Understanding starts with reducing trading frequency. Everyone knows to wait for the right opportunity, but it's hard to do so. The market data fluctuates back and forth, seeming to present too many opportunities to make money. It feels like a waste not to jump in and grab some, but once you do, you end up trapped. Once trapped, your mind gets chaotic, and you can't focus on trading rules, let alone wait for the right moment. Your head is filled with negative emotions brought by being trapped, leaving no room to think about anything else. This is usually how losses happen.

A very heartfelt statement by Liu Zhenyun:
"When poverty reaches a certain level,
You simply have no ability,
To learn, to think about upbringing, opportunities, and direction. When survival becomes the only luxury,
All the splendor in this world is just a display for you, yet there are still too many ridiculous things.
"Easily praising suffering."

Turn the things you like into the things you are good at,
Turn what you are good at into something professional,
Turn your professional matters into specialized matters,
Loving work so much, striving for excellence, and continuously improving will inevitably lead to wealth.
Becoming a genius, a master, or a wealthy person is the result of years of focusing on monotonous and tedious work to enhance expertise in a specific niche.

Recently, I had a profound realization that I wanted to share quickly before I forget again. Many pros are using Auto-Invest, which means they are entering positions in batches. They can't guarantee that they will buy at the lowest point. For example, if they want to buy 1 million, they might divide it into five purchases of 200,000 each. This is very important, as even traders cannot do it; there are very few people who can consistently buy at the lowest point or sell at the highest point.

I learned a concept from Professor Tal Ben-Shahar, a professor of positive psychology at Harvard University, called "arrival fallacy."
It means that we often think that as long as we can reach a certain destination, everything will be accomplished, such as when I have money, when I am free, when I have time... Once that moment arrives, happiness will automatically come. But the paradox lies in the fact that if you do not feel happy in the present, then you, arriving at that goal in the future, will not actually be happy either. Because for you at that time, it will just be an ordinary "present

Why do most ordinary people have a high failure rate in entrepreneurship?
1. Lack of business awareness: Entrepreneurship is by no means just simple buying and selling; it tests a person's overall abilities. Many people enter the market simply because they believe they can succeed. If you don't fail, who will?
2. No precise targeting of the target audience: Clearly define who you are serving? What pain points are you solving? Your product or service must address the real needs of a specific group of people to be valuable; otherwise, it is just self-entertainment.
The main reason for entreprene

We are speculating about our future opportunity cost. Warren speculates that he will have the opportunity to invest capital at a high return rate, so he is currently unwilling to invest capital at a rate lower than 10%. But if we know that the Intrerest Rate will remain at 1%, we would change. Our barrier reflects our estimation of future opportunity costs.

If the technology hadn't changed, they (the newspapers) would still be great enterprises. Online television (in its heyday), anyone could do well. If it were Tom Murphy, you would do well, but even your idiot nephew could do well. Fortunately, carbide cutting tools (such as those made by Iscar) do not have these alternatives.

Dividing it into the whole concept of "value" and "rise" makes me feel quite bored. For a group of pension fund advisors, this is a convenient way for them to earn fees through casual conversations and to distinguish one advisor from another. However, for me, all wise investments are value investments.

The relationship between happiness and desire: happiness has no absolute relationship with the absolute value of possession; when ability exceeds desire, there is happiness; conversely, there is suffering.