Our future investment strategy Abandon 'buy and hold' and embrace 'wave rotation' Don't fantasize about a decade long one-sided bull market anymore The future opportunity lies in a 3-5 year intense mini cycle We need to switch between two scripts like hunters: Script A (Inflation Handbook): When the market realizes that AI energy consumption, debt, and deglobalization are causing inflation to spiral out of control Buy: Physical assets, copper, oil, gold are standard equipment But now I need to add utilities (electricity), water resources, and agriculture/fertilizers. Because these are the 'physical costs' behind the prosperity of AI. Avoidance: Long term US Treasury bonds, loss making technology stocks Script B (Deflation/Recession Handbook): When the central bank raises interest rates and "explodes" the economy, recession panic strikes Buy in: long-term treasury bond (before interest rate cut), large technology stocks (giant with abundant cash flow is a haven for deflation) The key to making big money by mastering the art of "macro switching" lies not in stock selection, but in timing The most dangerous and profitable moment is the moment when the Federal Reserve turns around - when they panic and start rescuing the market due to recession, it is a signal for us to sell bonds and rush into commodities. Due to a new round of stimulus, coupled with the rigid demand for physical resources by AI, it will trigger the next round of even more intense inflation