One common mistake I see is trying to be too clever too early. People correctly identify a meta early, but instead of expressing it through the cleanest, highest-attention vehicle, they hunt for cheap, illiquid betas hoping for extra upside. That adds unnecessary complexity: you now need the meta to hit and capital to rotate into your specific proxy. In a fast, speculative market, the main ticker gets the bid first. Betas only work after the narrative is established. Early on, simplicity is the edge.