1. People make mistakes not because they don’t understand, but because they think they know everything.
2 I was born poor, but I will never die poor!
3. Everything always rises and falls. The important thing is to recognize the trend change. The key point is to find the turning point.
4 It’s okay to take risks, but when it comes to taking risks, don’t risk your entire fortune.
5 World Economic History is a series based on illusions and lies. The way to gain wealth is to recognize the illusion, get involved, and then get out of the game before the illusion becomes public knowledge.
6 If you are not ready for the pain, just leave.
7 A truly excellent investor does not lie in whether he is always a winner in the market, but in whether he has the courage to stand up from every failure and become stronger!
8 Admitting a mistake is something to be proud of. I can admit my mistakes and forgive others for their mistakes.
9 I realized that I had to take some action, even if it meant losing the battle, and I was ready.
10 Although rational behavior is only an ideal situation, unexpected results can appear at any time, and there is no perfect understanding. However, pursuing more perfect knowledge is not only beneficial to the results, but also in line with people's desire for knowledge.
11 Stock prices depend on basic trends and prevailing biases, both of which are in turn affected by stock prices.
12 People often fail to keep up with the development of things.
13 The causal chain does not lead directly from facts to facts, but from facts to cognition, and then from cognition to facts.
14. To be successful, you must have sufficient free time.
15 Reflexivity does not exist all the time, but once it occurs, market price trends will follow different patterns. They also play different roles. They not only reflect the so-called fundamentals, but they themselves will become one of the fundamentals and shape the evolution of prices. This recursive relationship makes the evolution of prices uncertain and has nothing to do with the so-called equilibrium prices. Irrelevant.
16 Market prices always distort the fundamentals behind them.
17 In fact, it is not that current expectations correspond to future events, but that future events are shaped by present expectations.
18 However, as total liabilities accumulate, the weight of total credit increases and begins to have an appreciation effect on the value of collateral. This process continues over and over until the point where increases in total credit no longer stimulate the economy. At this point, mortgage values had become overly dependent on the stimulus of new lending, and as new lending failed to accelerate, collateral values began to decline. The erosion of collateral value has a disincentive effect on economic activity, which in turn reinforces the erosion of collateral value. By that stage, collateral has been stretched to the limit, and a slight decline could trigger demands for loan repayments, further exacerbating the recession.
19This whole world is a scam, you must get involved as early as possible and leave before the scam is discovered by everyone."
20 If your business situation is not good, then the first step is to reduce your investment, but do not withdraw funds. When you reinvest, start with a smaller amount
21 Not knowing what will happen in the future is not scary. The scary thing is not knowing how to deal with it if it happens.
22Investment is not about following fashion. If you follow others, you will be doomed to failure.
23The important thing is not whether your judgment is wrong or right, but to maximize your power when you are right.