"Is it still necessary to continue holding PONS? Profits have dropped from ninety percent to now thirty percent."

Regarding PONS, I have recently written two articles: the first one is "PONS Review: Speculation is a gamble, investment is waiting to see clearly" on September 8; the second one is "PONS Investment and Speculation and a Reflection on UNI" on September 22.

In these two articles, I believe my views have been clearly expressed.

In the first article, I quoted Duan Yongping's words: "He must wait until he sees a target clearly, especially after seeing that it can continue to make money in the long run, before investing a large amount. If he cannot find such a target, or if the price is already too high when he finds it, he would rather miss out than touch it."

This is my standard.

So according to my standard, what is my view, is stated in the second article:

"If this 'next' refers to a time frame within a year, then I think judging a project's fundamentals (such as barriers to entry, cash flow, profit model, etc., commercial and financial indicators) from its inception to the following year is close to gambling, or to say, heavily relies on luck."

"Looking at today’s PONS from this angle, the reasoning is the same. If one needs to judge what its fundamental situation will be like a year later or even longer, such as whether profits will continue? Will the pullback last? Does the team have resilience? Is there a barrier to entry in the business model? I think the difficulty is still very high."

So whether in the short term or long term, judging PONS's future profitability based on current conditions and situations is very difficult for me; I cannot make a judgment.

If I cannot judge its profitability, then I certainly cannot judge its investment value, and without judging its investment value, I cannot then judge the subsequent investment operations.

In fact, in facing this situation, a more important question should be asked:

Why did you buy PONS in the first place?

If it was purely for fun or a tentative purchase, then this amount of funds should not be too large, and it should be something you can afford to lose. If you are using money you can afford to lose to tentatively participate in a project, then I think the more important significance is the insights and experiences gained during this process, rather than being primarily entangled in profit and loss. If this amount of funds is large, then it is gambling, and that is not a topic to be discussed here.

If it is a large investment, then you need to further question yourself why you initially decided to invest heavily in such a target?

I remember on July 22 I wrote an article specifically sharing "How to judge whether your heavy investment is reliable?" Among the several criteria listed, if any one of them is touched upon, it is warning you — your heavy investment is likely unreliable.

Two points worth considering are:

"Fifth, after heavily investing in a target, you go to various forums to comment, asking everyone if they think this target is good."

"Ninth, when the price of the target you heavily invested in falls, you immediately become anxious, wondering if you should sell."

If you look back and find that you did not encounter these problems when you made your heavy investment, although it might not prove that your investment is 100% reliable, at least you would not be asking such questions.

But if you find that you have touched on any of these points, then it is likely that your previous heavy investment operation was not very reliable, which means you did something wrong.

Everyone makes mistakes; that’s okay. What matters is that after making a mistake, you need to change.

As for how to change specifically, I still recommend carefully reading Duan Yongping's investment Q&A.

In it, he repeatedly describes his painful process of correcting mistakes through personal experience. Although correcting mistakes at the time was painful, hindsight has proven that those acts of correction were all correct.

In short, if what you buy is something you do not truly understand, even if you buy Bitcoin and Ethereum at a price of ten dollars, you will ultimately not earn substantial profits from it.

But if you buy something you understand, even if it only doubles, the money will be earned in peace and security.

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