If you’ve been investing for the last ten years, it probably hasn’t felt very hard. Markets recovered quickly. Pullbacks were brief. Long-term discipline was rewarded. In fact, the numbers are so strong that they almost start to feel normal. And that’s where the risk quietly creeps in. Not because something bad is guaranteed to happen next, but because extraordinary periods have a way of resetting our expectations without us realizing it. When returns stay elevated for long enough, it’s easy...