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January 2021 Meituan at 460 That was probably the golden era for Chinese stocks, right? Now it’s down 87%. If you bought QQQ and got stuck, can you really DCA (dollar-cost average) for 14 years to break even? The truth is often brutal. Most people buy at the peak and sell near the bottom. The reason is usually very simple: When prices are rising, there’s always a narrative convincing you to buy at the top. When prices are falling, there’s always a narrative convincing you to sell at the bottom. Don’t believe it? What was the narrative that convinced you to buy altcoins, meme coins, or Chinese tokens back then? Did it work on you? And today, what’s the narrative convincing you to sell them? Why did you buy BTC back then, and why don’t you dare to buy it now? Why are you bold enough to jump into SOXL and TQQQ today? The narratives are always changing. The market will naturally provide reasons for you to buy high and sell low. You don’t need to actively seek out these narratives— they’ll find you with precision. The truth is often simple and unadorned. As Teacher Bei once said, ‘Smart money will always find its rightful owner.’
