Brothers, when it comes to El Ni ñ o, the first reaction may be: Will it be particularly hot again this year? But for ordinary people, the impact of weather is not only on air conditioning remote controls, but may also appear in vegetable prices, electricity supply, and even financial reports of holding companies. Let's start with two domestic examples. In 1998 and 2016, severe floods occurred in the Yangtze River Basin, both of which were against the backdrop of the decline of strong El Ni ñ o events. Of course, floods cannot be attributed solely to one climate phenomenon, and factors such as atmospheric circulation are also important. But it reminds us that changes in sea surface temperature in the Pacific may affect domestic agriculture, transportation, and production through abnormal rainfall. Let's take a closer look at the more easily understandable 2022 high temperature and drought in Sichuan. That's not an example of El Ni ñ o, but it illustrates how weather affects the economy: reduced precipitation and incoming water, putting pressure on water and electricity supply; The hotter the weather, the more electricity is used for air conditioning, and the supply and demand are squeezed, forcing some companies to shut down. If it falls on the factory, it may result in delayed order delivery and additional costs for equipment and labor. The phrase 'sustained high temperature' in the weather forecast may turn into changes in production and profits in the financial report. Agriculture is the same. Drought and flood affect harvest, transportation is hindered and losses increase, which may ultimately be reflected in food prices. But it cannot be simply understood as' when agricultural products rise in price, agricultural companies make money '. If a company incurs greater losses in its own production, the increase in selling price may not necessarily be able to make up for it. From an economic perspective, the key is how long the price increase can last. If only some regions and short-term supply are disrupted, other production areas, inventories, and imports may buffer the impact; If the scope is broader and lasts longer, food and energy costs may push up inflation, compress other consumer spending, and squeeze corporate profits. At this point, the situation faced by the central bank is even more complex: there is pressure on prices, and economic activity may be damaged. It cannot be directly deduced as a certain interest rate hike, nor can it be assumed that gold will rise and stocks will fall based on this. For me to make a regular investment, the weather is worth paying attention to, but I don't need to change my plan every time I see a warning. I will take one more step forward: Has there been any actual reduction in production? Has the price continued to rise? Has there been any change in the cost and profit expectations of holding companies? Understand these and then consider adjusting the pace of investment. Pay attention to the weather in order to understand what is happening in life and business earlier, not to find an extra reason to follow hot topics.