The University of California tracked 35,000 investment accounts over 7 years and provided a painful answer — overconfidence and blind arrogance are quietly consuming men's investment returns. Today, let's discuss how to let go of the 'pride obsession' in investing, learn the wisdom of long-term investing from women, and use 'operation cool-down periods' and 'dividend anchor points' to stabilize holdings amid volatility and make good asset allocations.

First, let's look at this core data. The key reason women outpace men in annualized returns is not in professional ability, but in the differences in investment behavior. This is also where male investors should reflect the most.

It is often said that 'men are forever boys,' which fits perfectly in the context of investment. Data shows that the trading frequency of male investors is 45% higher than that of female investors, and this high-frequency trading directly leads to severe wealth erosion. Many men believe they can accurately capture every market opportunity, buying high and selling low frequently, but in the end, when accounting for transaction fees, slippage, and losses due to impulsive decisions, the account's returns are significantly reduced. The market is never an amusement park for quick in-and-out trades; behind high-frequency trading is an excessive belief in one's own judgment, as well as silent loss of wealth.

Let’s use a vivid comparison to illustrate the core differences in investment thinking between men and women: Hunters vs. Tree Planters. Male investors mostly have a 'hunter' mindset, always wanting to chase the market and catch every 'rabbit' of short-term profits, eager for daily gains and perfect timing. However, the result is often exhausting runs in the market, not only failing to make money but also easily falling into traps and suffering losses. In contrast, female investors tend to lean towards a 'tree planter' mindset, not rushing for immediate success, patiently nurturing the chosen assets, and focusing on long-term value growth and compound effects. It may seem slow, but it is indeed stable; this is the key ability to navigate through market cycles.

The core reason that traps men in the 'hunter' misconception, even unwilling to cut losses, is that fatal arrogance. The market changes rapidly, and no one can always predict the market correctly, but many men, due to their pride, are reluctant to admit their judgment errors. Even when their positions show obvious risks, they stubbornly hold on until the end, thinking that admitting defeat means losing face. However, the essence of investment is to make money, not to compete for victory or defeat. Being willing to admit mistakes and timely cut losses or adjust strategies is true rationality and responsibility for one’s assets, which has a greater investment perspective than stubbornly holding on.

Another point worth noting is that the intelligence distribution among male investors is polarized, which has led many from 'investment geniuses' to becoming 'gamblers.' Some men earn their first bucket of gold through professional analysis and then become blindly confident, thinking they can control the market, leading them to leverage and engage in high-risk trading, completely abandoning investment logic. Temporary success does not equate to perpetual correctness; maintaining rationality and respecting the market is the long-term path of investment.

After discussing the questions, we also share two highly practical investment strategies to help everyone stabilize their positions and alleviate volatility anxiety.

The first is to set a 'cooling-off period' for volatile assets, which can be considered a special remedy for volatility anxiety. Many people now allocate to high-volatility assets like tech innovation ETFs, and market fluctuations can easily lead to emotional reactions, prompting impulsive actions like increasing positions or cutting losses. Here’s a simple method: Treat investment decisions like buying a luxury handbag. When buying an expensive bag, you will repeatedly evaluate and compare; you won't rush into a decision. Investment should be the same. When you want to act on tech innovation ETFs, first set a cooling-off period of 24 hours or even longer for yourself. Wait for your emotions to settle and replace feelings with rationality before making a decision; this can help avoid most impulsive mistakes.

The second is to find a 'stabilizing anchor' for the investment portfolio—dividend assets. Currently, the AI and technology sectors are experiencing significant fluctuations. If these types of assets account for too high a proportion in the portfolio, the account will follow suit with large ups and downs, leading to an imbalanced mindset. Dividend assets offer stable returns and high dividend rates, effectively hedging against the high volatility risks of AI and technology sectors. Using dividend assets as the anchor point for the portfolio can make the overall allocation more stable and give you more confidence in market fluctuations, so you aren't swayed by short-term market movements.

Lastly, let’s talk about the highest realm of investment: truly successful investors possess the qualities of being 'androgynous.' This does not refer to gender but to the integration of the core advantages of both male and female investors: having the stability and patience of women, understanding market respect and timely loss-cutting, while also possessing the decisiveness and ability to seize major trends of men. Balancing risk control and profit capture without neglecting either side is essential to establish a long-term presence in a complex market and achieve asset growth across cycles.

Today's content ends here. Finally, we have an interactive session and would like to ask everyone: Do you have any female friends around you who have outstanding investment performance? What are their investment ideas and methods? Feel free to share in the comments section and learn together with everyone.