1. Investment is an excuse for speculation.

2. Exit in time before the fallacy is exposed.

3. When you are in the market, you have to be prepared to endure pain.

4. A fool and his money are welcome everywhere.

5. The end of the bull market is signaled by a series of fundamental changes.

6. Stocks will rise only when market conditions are mature.

7. When you are right, you must have the courage to be a pig.

8. Investment itself has no risks, only out-of-control investments have risks.

9. To be successful, you must have sufficient free time.

10. The ability to do the right thing is a privilege possessed by a few.

11. The biggest secret is to have insight into industry opportunities and see what no one has seen before.

12. Financial management is always a way of thinking, not a simple skill.

13. In the stock market, look for mutations that others are not aware of.

14. I was born poor, but I will never die poor!

15. I am not afraid of anything, not losing money, but I am afraid of uncertainty.

16. The reason why I am rich is just because I know when I am wrong.

17. It’s okay to take risks, but when it comes to taking risks, don’t risk your entire fortune.

18. I regard the financial market as a window through which I know and understand the world.

19. If the operation is excessive, even if the market decision is correct, it will still fail.

20. Even if this interest cannot be satisfied, it is much better than not trying at all.

21. When there is an inflection point in the macroeconomics, select the stocks with the worst performance in the worst industries.

22. Intuition is the main basis for investment. In the market, you have to be prepared to endure pain.

23. Participants’ decisions are not based on the objective conditions themselves, but on the interpretation of the conditions.

24. I am not interested in making a lot of money. I just use operations to prove whether my philosophy is correct.

25. Everything always rises and falls. The important thing is to recognize the trend change. The key point is to find the turning point.

26. The reason why people make mistakes is not because they don’t understand, but because they think they understand everything.

27. Participants’ opinions affect the development of events, and the development of events affects participants’ opinions.

28. The stock price depends on the basic trend and the mainstream bias, which in turn are affected by the stock price.

29. Not knowing what will happen in the future is not scary. The scary thing is not knowing what to do when it happens.

30. If I want to buy shares worth US$100 million, I will only buy US dollars at the beginning. Invest first, then observe.

31. The operation is like the law of the forest in the animal world, specifically attacking the weak. This approach can often achieve perfect results.

32. If your investments are doing well, go with your gut and invest all your assets.

33. I realized that I had to take some action, even if it meant losing the battle, and I was ready.

34. When you are sure about a transaction, give the other party a fatal blow, that is, it is not enough to do it right, you must get as much as possible.

35. There are few brothers and sisters, and not much money. What else can you do at this stage? Do whatever you can to survive!

36. Fundamentally speaking, all our views on the world are flawed and distorted to a certain extent.

37. It cannot be called a career without risks, but it is important to know where there are risks and leave a way out and a way for oneself to survive.

38. Market prices are generally wrong because they do not bring a rational view about the future, but a biased view.

39. There is no blame for taking risks, but at the same time, remember not to put all your money on the line! When you have the opportunity to make a profit, don't be afraid to move forward.

40. If you are not ready to endure the pain, then leave. Don’t expect to become a victorious general. If you want to succeed, you must be ruthless!

41. I will never take risks that can destroy myself, but I will never stand idle while there is a profit to be made.

42. The financial market will not simply reflect the internal reality negatively, it also has a positive effect: it can affect the so-called fundamentals that it should reflect.

43. To make a profit in the capital market, the rate of return is just a symbol, and what constitutes this symbol is not only wisdom and strength, but more importantly, courage and confidence.

44. The stock market is generally unreliable. Therefore, if you follow the fashion of others in the East China Street area, your stock management is destined to be very bleak.

45. I believe that the bias of participants is the key to understanding all historical processes in which thinking participants are involved, just like heredity and mutation are the key to biological evolution.

46. Anyone who engages in risky business but cannot deal with the consequences is not a good player. In a team, investment styles can be completely different, but the character must be reliable.

47. If your business situation is not good, then the first step is to reduce your investment, but it is difficult to recover the funds. When you reinvest, start with smaller amounts.

48. The most important thing is character. Financial speculation requires taking great risks, and unscrupulous people are unwilling to take risks. Such people are not suitable for engaging in high-risk speculation.

49. It’s never good to go all-in. Market trends do not necessarily reflect the nature of the market, but rather reflect investors' expectations for the market. Maybe the party is over, but there are still people dancing.

50. In human activities, thinking is part of the subject discussed, and has both cognitive and manipulative functions. These two functions can interfere with each other, but mutual interference does not always occur.

51. 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!

52. 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.

53. As a market participant, what I care about is market value, that is, the pursuit of profit maximization; as a citizen, what I care about is social value, that is, human peace, freedom of thought and social justice.

54. Although rational behavior is strictly an ideal situation, unexpected results may 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.

55. In terms of financial operations, it is impossible to say whether it is ethical or unethical. This is just the general operation in the future. The financial market does not belong to the category of morality, where morality does not exist at all, precisely because it has its own rules of the game.

56. Market participants are not only biased in their operations, but this bias affects the development of events. Market prices are incorrect precisely because they ignore the potential for future developments and their imminent impacts.

57. Economic theory believes that supply and demand conditions are given and explains how the free market can achieve the optimal allocation of resources under perfect competition. But the formation of the demand curve does not exist in isolation, but is manipulated by advertising.

58. Action and reaction. One affects another, and the other affects itself. The mainstream bias is self-reinforcing at first, and the trend continues, but then flaws are exposed, the mainstream bias is reversed, and finally it continues to be self-reinforcing.

59. Only by staying away from the market can we see the market more clearly. Those who stay in the market every day will eventually be swayed by every detail that appears in the market, and will eventually lose themselves. direction and was fooled by the market.

60. The market is stupid, and you don’t have to be too smart. I hope you will seize the opportunity, but you must always be vigilant, otherwise you will not be swallowed up by the madness. Learn and understand the confusion when others are clear, and wake up in advance when everyone is confused!

61. My personality is that I have no personality investment style. To be more precise, I am constantly changing my style to adapt to different conditions. I don't play according to the existing rules, but seek changes in the rules of the game.

62. People think that I can’t make mistakes. This is completely a misunderstanding. I can honestly say that I make as many mistakes as anyone else about everything, but what is super about me is that I can recognize my own mistakes. This is the secret of success.

63. 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. Not relevant.