Are there many people buying inside the wall? 1/Tell a fact that makes many people uncomfortable: In China, the people referred to as' maila 'are a minority among the few. And globally, those who do not buy US stock index funds are the minority. The asset structure of Chinese households is basically three: houses, deposits, and A-shares. Real estate accounts for the absolute majority, and many people's biggest "investment" in their lifetime is a property. If you have some spare money, you can either continue to speculate in real estate or banks, or rush into A-shares to chase the rise and fall. The proportion of people who truly allocate US stock index funds is pitifully low. It's not that they don't have money, it's that no one told them there's still this path. 3/Why? Three reasons: information isolation, foreign exchange control, and brainwashing of traditional concepts. From childhood to adulthood, schools did not teach you financial management, society did not teach you investment, and the generation of parents had never even heard of the words S&P and Nasdaq. You open your phone, and financial media talk about the ups and downs of A-shares, favorable policies, and the recovery of real estate every day. Nagi? That is' overseas assets', 'high-risk', and 'unpatriotic'. Foreign exchange control has added another lock. Ordinary people have limited annual foreign exchange quotas, and it is troublesome to make deposits and withdrawals. Many people are directly advised to withdraw. So everyone stayed comfortably in their comfort zone, continuing to buy houses and speculate on A-shares. But on the other side of the world is a completely different scene. In the retirement accounts of middle-class families in Europe and America, the S&P 500 and Nasdaq 100 are standard. 401k、IRA、 Pension funds are heavily allocated to US stock index funds. Norwegian sovereign funds, Japanese government pension funds, and Middle Eastern tycoon funds are all buying US stocks. It's not because they're stupid, it's because over the past century, US stock index funds have proven themselves with tangible long-term returns. The S&P 500 has a long-term annualization rate of about 10%, while the Nasdaq 100 has a higher long-term annualization rate. Through wars, crises, foam and recessions, the index has reached new highs again and again. 5/Ironically, those who are most bearish on the Nasdaq often don't even have a US stock account. 99% of their bearish reasons come from short videos and financial self media push notifications. Today Buffett hoards cash, tomorrow Rogers will clear his position, and the day after tomorrow the big short will warn AI of foam. They are trapped in an information cocoon, yet they think they have seen the world clearly. And those who truly hold the Nasdaq for a long time are simply too lazy to argue. They just mechanically buy every month and wait for time to happen. My viewpoint is very clear: In China, buying a piece of land is self-help. You are not betting on the United States, you are betting on the world's best technology companies, most mature market mechanisms, and longest term innovation dividends. Configuring Nagi is not about being unpatriotic, but about taking responsibility for one's hard-earned money. So, if you're still young, don't bet all your money on houses and A-shares. Take it out and buy index funds such as QQQM and VOO. Don't choose the right time, don't watch the news, and don't listen to the big Vs. The world is big, don't let your money slowly depreciate in a corner.