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: On the next portfolio review, separate what feels urgent from what is structurally important. The point is not to memorize the label. The point is to know what variable is actually doing the work.