A Hundred Times Coin Not Worth Selling Watching a coin increase by 2 times, 5 times, 10 times, 20 times, or 100 times But at every point in time I still don't understand. Is there any basis for seeing future price increases or vague opportunities for convexity I didn't understand who is buying and who will be the subsequent liquidity receiver I didn't understand the sustainability of external liquidity So it's right not to take action in this situation; The rational approach is to maintain calmness and a calm mind like water, not foam; More importantly, reduce your actions as there are too many and too frequent spikes that cannot be explained There are too many and too frequent skyrockets under the disadvantage of high information asymmetry There are too many and too frequent surges that do not constitute convex investment opportunities In other words, a simple price surge or a simple price drop cannot constitute a condition for investment to be made Relying solely on price surges or betting on price drops is likely to result in long-term losses. How do investment masters deal with skyrocketing demon stocks? Value investing faction: Buffett&Munger (The "Ignore" Camp) Attitude: Ignoring, even contemptuous. Regard it as a gamble of "passing flowers through the drum" rather than an investment Principle of Ability Circle: If I don't understand why it's rising (not understanding cash flow, moats), even if it rises to the sky, it has nothing to do with me. Completely not touching: Even if the fool next door earns 100 times because of buying this thing, they are still at ease. Munger has a famous saying: "I am not jealous of others making money faster than me, especially money earned through gambling Soros (The 'Ride&Run' Camp) Attitude: Observe the foam, even participate in the foam, but leave one second before the foam bursts. A famous saying: "When I see a foam forming, I will rush in and buy it, because that is the direction with the least resistance." Right side trading: When the surge trend is established and there is strong public sentiment driving it, he will buy along with it. Never in love: He has no feelings for the target and immediately goes short when it doesn't rise. Strict screening for participation: For example, an uptrend should have reflexivity and stimulate fundamentals To summarize: 1. Either ignore it directly, or strictly choose to raise funds to make money. 2. Most hundredfold coins are not worth buying.