Buy a great company at a reasonable price and hold it for the long term, patiently waiting for it to gradually become more expensive It may seem simple, but almost most people cannot do it. Even though they know that cases like Buffett and Coca Cola are so classic that they cannot be more classic, there are still very few people who truly practice them? Core reason: This strategy is simple, but extremely inhumane. People need to deal with both psychological and behavioral barriers at the same time, which are almost human instincts. For example, at present, the market is in a state of panic, and no one knows when it will bottom out. Everyone knows to buy in fear and sell in greed. But most people's actions are to buy when market sentiment is wild, afraid of missing out on historic opportunities; When there is a sharp decline, people are afraid of going back to zero, but the reality is that many knockoffs have also gone back to zero. This kind of psychological muscle memory will only strengthen people's fear. In terms of behavioral disorders, people prefer movement over stillness. Especially now people are accustomed to instant feedback and don't feel comfortable with longer feedback. Even if someone says that BTC can rise to $1 million and ETH can rise to $100000 in the future, no one will feel anything. But if BTC rises or falls by $2000 recently, and ETH rises or falls by $500, everyone will feel it coming out immediately. Relatively speaking, inaction brings greater anxiety to people, and this instinctive anxiety can prompt frequent buying and selling, thereby destroying compound interest. There are other aspects of human nature, such as most people feeling smarter than others. Overestimating one's own cognitive biases is common, and most people tend to draw conclusions based on their preferred information. If there is a relative lag in returns, it becomes even more unbearable. For example, seeing BTC/ETH returns lower than other projects and Coca Cola lower than tech stocks. This kind of comparative pain is difficult for human nature to endure. Then, they started changing tracks and chasing hot topics, only to miss out on bigger opportunities. Compound interest is too time-consuming. Even if people recognize and discover high-quality companies, few are willing or willing to wait for five, ten, or even twenty years. Long term holding strategies are difficult for most people. With the current information overload, there are always various voices telling people that this is outdated, which shakes their hearts and minds.