One framing I keep coming back to is this: capital allocation and risk allocation are not the same thing. Desk note: Two positions can each be 10% of capital and still contribute wildly different amounts of risk. Why investors care: That matters because portfolio discipline lives in risk contribution, not in capital symmetry. Translate it into behavior: A high-volatility sleeve can dominate the emotional experience of the portfolio even when its capital weight looks modest. Where people usually get tripped up: The mistake is assuming equal capital weights mean balanced exposures. Keep this nearby on the next review: A useful review question is which funding, incentive or cash-flow channel is actually doing the work. That is the kind of small conceptual habit that compounds into better decisions over time.