A Bitter Lesson

31/Mar 2025, Today I sold 1000 shares of Nvidia to secure my leveraged short PUTs on NVDL. I acknowledged a huge paper loss to ensure my account wouldn't be liquidated. I strongly believe Nvidia has a bright future, but I confess I made a big mistake by using leverage to try to earn more. When I lost all the gains, I was still under the illusion that they would come back, and I failed to stop the loss.

Duan Yongping once said: "Do the right thing. If you sense something is wrong, stop it." It sounds easy but is actually hard. Greed, fear, and unwillingness to accept reality made me want to gamble. But what if the gamble succeeded? Next time, I might gamble even bigger.

Once again, I need to write down these words here:

Do the right thing. 1) Think long-term. This decision will determine who I am in the future. 2) If it's wrong, stop it. 3) If you know it's wrong, never do it.

Investing is about finding good companies, holding them at a reasonable price, and waiting for them to grow. Ensuring I can hold them long enough is the most important thing. Therefore, I need to reduce my risk, make fewer operations, and simply buy and hold.

Investment is a long-term game. Life is interesting, but if investing makes life unhappy, then it's wrong. I should allocate more attention to my life: to learn, to accumulate, to enjoy, and to connect. Make life happy, happiness is the true meaning of life.