Playing it safe.
If you constantly play it safe in life, you’re probably hoping to avoid making mistakes by going along with the herd. But this is one of the biggest mistakes of all, because sweeping success only comes to those who are courageous enough to strike out on their own. Successful people may initially allow themselves to fall into this trap, but something in them propels them to take risks. They would rather try something new and fail than take a safe bet and lead a boring life.
It is alright to have a courageous approach to life and the different niches we find ourselves in. But in investments, playing it safe is one of the best advices one can get
It takes time to grow a portfolio and build your profit margin, inorder to last the test of time, one needs to take low, calculated risks, to successfully manage their investments. When you've gotten more profits, you have the freedom to take more risks, but definitely not when you're just starting out with an asset.
there is a point mentioned above by OP which states - the rich people don't pretend to be someone else.
This is the best thing they do and the other very important point is taking time to decide and stick to their decision.