Changpeng Zhao shares the 'Four No's' of financial management: No stocks, no real estate, no short-term crypto trading, no excess cash. According to HK01, Binance founder Changpeng Zhao reflected on his journey from rural Jiangsu to a billionaire in an exclusive interview, sharing his 'Four No's' financial principles: no buying stocks, no real estate speculation, no short-term crypto trading, and no holding excessive cash. He explained that real estate transactions are time-consuming and not worth the returns. He avoids stock trading and short-term crypto trading, opting instead for long-term holding and selling some crypto assets when needed. 'Holding fiat is the dumbest investment strategy; cash keeps depreciating.' In 2013, Changpeng Zhao sold his house to go all-in on Bitcoin, which later dropped by two-thirds and stayed flat for a year and a half. (Ouyang thinks traders should: buy stocks, buy real estate, trade crypto short-term, and keep more cash for a buffer.)