Quotes from Hong Kong stock god Cao Rinchao: 1. Only those with a net worth of over a hundred million have the right to diversify their investments. Retail investors must concentrate their firepower to have a chance to make big money; putting eggs in too many baskets can easily lead to chaos. 2. Never try to catch the bottom, and never guess the top; no one knows where the "bottom" or "top" really is. However, trends can be judged. Grasping the trend makes earning money a simple matter. 3. I often hear people say that money can't buy happiness. This is just a consolation for those without money. A poor couple has all sorts of woes; 90% of the troubles ordinary people face are related to money, and the seven daily necessities can all be solved with money. 4. Investors must always remember "what to buy, when to buy, how much to buy, and when to sell"; either earn over 100% or cut losses at 15% and exit. 5. As the saying goes, speed is of the essence in warfare; in the stock market, one should act quickly and decisively. When there is an opportunity, go all in to earn the maximum profit in the shortest time. 6. When young, with little capital and wisdom, one has plenty of courage, so one should take risks; as one ages, with more capital and wisdom, courage diminishes, so one should be stable, as one can no longer afford to lose. 7. In difficult times, do not lose confidence in yourself; during crazy times, always keep a cool head. 8. Don't fear missing opportunities; as long as you have capital, there will be another opportunity tomorrow. Cao Rinchao once said while summarizing his path to success: "Effort accounts for 30%, while the remaining 70% is about the trend that causes gains and losses." For many years, it has been the method of "watching the trend" that has allowed his wealth to grow so rapidly. At first, everyone believed that value investing was infallible, but later discovered that trend investing is the best way to survive in the long term. What I most agree with is his statement that how much money one makes is related to the trend rather than effort.