Every bull market is like a scam.

There's no way around it, because the market is all about following trends. Therefore, doing your homework and practicing value investing is very important. What is value investing? It's simply investing in what can rise in value. Don't focus solely on performance; never do that.

Because stocks that have good performance and can rise are usually one in ten thousand, or even just one or two. Just like asking you, who is the next Moutai? How many can you name? So it's clear. Most of the market is speculation, and most people are attracted to the stock market by speculation.

Everyone has a wife, but why does everyone like to look outward? The principle is the same. Everyone knows where the leaders of value investing are, but who can hold on to them? That's life. The opponent is not others, but oneself.

Indices are not easy to rise.

The market is consolidating again! The bears are very pleased. Because the market is inherently more down than up, indices are even more difficult, easier to fall and harder to rise. But this is life, and opportunities in life are also very few.

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Just like the internal friction I mentioned. If you look back, there are many problems, and they will always be more than the future. And if you look forward, opportunities are few, and the direction that is lovable is also very small. Just like a family, if everyone considers problems from the perspective of children, there will be fewer contradictions. It won't be a comparison of who loves less or more. But if you look back and compare who is better or worse among the elderly, you're doomed; this family will definitely argue non-stop, and it's a big deal if it doesn't fall apart.

The stock market is the same. Bears are those who look at the past, look at performance, and they are also right; in ten gambles, nine lose, and winning is normal. Look at the world; the world is so big, how many mobile phone brands can survive? The world is so big, and how many emperors are there, fighting back and forth, it's just a few major countries playing with puppets.

Bulls are those who look at policies, and of course, the more impressive ones are those who understand where the opportunities are, so they are more optimistic than anyone else, and their optimism is infuriating. Many people always ask, what kind of person is suitable for entrepreneurship? I have seen all the answers, and actually, I find that they are all foolish. My answer is only one: those who discover opportunities are suitable for entrepreneurship. Successful people are all kinds of strange, so success is not about people, but about the timing of discovering opportunities. Just like if Buffett was born in Afghanistan, he might have been killed long ago.

The United States can still be great.There are only a few major countries, hence they can all be formidable. Small countries, aside from tourism and small movies, can't do much else. Whenever it comes to technology, they're doomed because they lack the ecosystem and the market to support it. They simply don't have a large enough market to bear the technology. If you put high-speed rail in the UK, it would cross the border as soon as it starts, making it pointless.

Saying all this is just to make beginners understand that the stock market is not as easy as you might think. Both bulls and bears have their reasons, the difference is who can spot opportunities. Opportunities are definitely rare; once they become abundant, they turn into risks.

Iran's air defense showcases Eastern power

In the past few days, the world has been amazed by Iran's air defense system, achieving a 99% interception rate. Even Israel, with a U.S. background, can't achieve half of that. So this is a great live advertisement and a vanguard action of the Eastern powers against short sellers.

Next, the world will see a massive monetary easing, with the Federal Reserve continuously lowering interest rates. Trump's rise to power also involves rate cuts. There's no other way; without rate cuts, U.S. infrastructure cannot be propelled. As for U.S. inflation control, lowering tariffs is the best alternative to raising interest rates, specifically by reducing import tariffs.

Regarding the distribution of benefits, expanding the scale of U.S. investment in China means that China needs to open up more of its market to the U.S., allowing them to come in and become shareholders. This achieves a situation where we have each other within us. Of course, the U.S. doesn't want to waste time; they would prefer to go straight for the kill. However, when they can't achieve that, they have to settle for the next best thing. Because if they don't become shareholders, they won't even have the qualifications to enter later, as India is also rising. The world is entering the Asia-Pacific era.

The U.S. is very similar to the Qin state over 2000 years ago; it's easy for them to attack others, but very difficult for others to attack them. The U.S., located in the mountains, is naturally wealthy. A country established by a group of pirates really seems like the nomads from over 2000 years ago, living off warfare.

Lower rates, lower rates, lower rates again

As interest rates become lower and lower, money will flow into the stock market. If you're not daring enough to trade stocks, no problem, many countries' funds will be allocated to ETFs. ETFs then buy stocks, creating a chain reaction that forms the cornerstone of financial stability. The U.S. is the same; their ETFs just broke through 1 trillion U.S. dollars before 2010, and now, 14 years later, they have broken through 10 trillion U.S. dollars. Including other non-stock ETFs, the total scale has already broken through 14 trillion U.S. dollars. They are also piling up money, but as a major country, they can do so. Take the small country of Norway, for example; no matter how much money they have, they only dare to invest it all in the U.S.

Small countries? They have no way to survive; their currencies can't even survive. They might as well just focus on tourism. So in the future, the world's money will basically all flow into the capital markets of major countries. There's no other way; it's better than keeping it at home and suddenly seeing it devalue by half or even turn into waste paper. Look at Argentina; they directly abandoned their national currency and chose to use the U.S. dollar.Bitcoin is on the rise, gold is also on the rise; essentially, everything at the core is increasing in value. What is our country lacking now? Trust and confidence, that's what. Only by expanding openness and allowing more foreign capital to come in can confidence gradually be restored. Of course, I use the term "restored" because our country's purchasing power GDP is already the world's number one, and our military strength is formidable without any boasting. What remains is the issue of market governance. This has to be advanced step by step; it can't be rushed. Our country has only been open for a little over 40 years, and we're already closing in on the United States. Such a pace is already incredibly strong; we can't expect to overtake the U.S. overnight—it's not realistic. Great powers still exist in the long term. However, in the later stages, cost advantages, the ecosystem, and population scale are very important, and policy efficiency is even more crucial.

Where are the opportunities? For large sums of money and substantial funds, seek out leaders that can surpass Moutai and hold onto them. For medium sums and funds, look for mines to invest in, especially as the world electrifies, the value of mines is on the rise. For small funds and those who act recklessly, invest wherever there's potential for growth, whether it's the Beijing Stock Exchange, special treatment (ST) stocks, automobiles or not, lithium batteries, baijiu, or anything else—don't worry about the specifics, just focus on what can grow. Don't know how? Then play less. That's it. You're not good at catching up on gains, you're afraid of the high valuations of leaders, you're scared of small-cap stocks being delisted, and you disdain the slow pace of large-cap stocks. The final conclusion: come back after 4000 points, and you will be formidable. Remember: it's not your fault. This is the law of the market. Confidence at 5000 points is always much greater than at 2600 points.