The NFT craze that once swept through the crypto world has crashed hard, and Hong Kong celebrity Alex Fong Lik-Sun has also fallen victim. Alex Fong is known as a 'hidden tycoon' in the industry. He revealed that he suffered massive losses buying NFTs. 'Lost more than I did trading stocks, I don’t dare tell my wife.' Take a look at what he invested in and how badly it tanked: The 'Bored Ape' dropped from $3 million to $100K, -97%. The total trading volume of the NFT market fell from $1.43 billion to less than $7 million, -99.5%. But what’s really worth pondering is another thing he said: 'When I had the least money, I spent the most on watches.' Why? 'I was afraid people would think I wasn’t doing well.' No matter the social class, if your understanding isn’t deep enough, you’ll still get ruthlessly drained by different markets. People who lose money aren’t always losing because they picked the wrong asset. Sometimes, they lose because they’re trying to prove themselves as fast as possible. But for most people, investment losses are almost always due to a mismatch between their knowledge and their financial level, and the greedy mindset of wanting to get rich overnight. The essence of trading has never been about getting rich overnight. It’s about surviving longer, achieving stable profits, and compounding returns. Surviving is the only way to turn things around. You don’t need to prove anything. You just need to keep improving your understanding, and avoid being eliminated by the market too early.