These nine investment thoughts and insights provide valuable experiences and lessons for rational investing. Below is a brief summary and analysis of each insight.

I. About Returns

The impacts of investment growth and losses are not equal.
Insight: A 50% loss requires a 100% gain to return to the starting point, indicating that losses are more fatal than gains. A robust investment strategy is more important than reckless actions.

II. About Price Fluctuations

Daily fluctuations negatively affect the final outcome of assets.
Insight: Short-term market fluctuations adversely affect long-term returns. Even if there is a rebound after short-term fluctuations, the compounding effect may weaken due to volatility, steady growth is more effective.

III. About Volatility

Long-term volatility dilutes the return rate.
Insight: Frequent fluctuations may cause annualized returns to be lower than risk-free assets' returns. Seeking stability and avoiding excessive high-frequency trading is a rational investment strategy.

IV. About 1% Per Day

If one can steadily earn 1% daily, assets will grow significantly.
Insight: Although theoretically assets can grow exponentially, sustained efficient operations are almost impossible in practice. Maintain reasonable expectations and avoid over-pursuing short-term profits.

V. About 200% Per Year

Achieving a 200% annual return for five consecutive years can multiply assets several times, but high returns usually come with high risks.
Insight: The sustainability of extremely high returns is very rare in reality, caution against excessive risk-taking and maintain rationality. Behind high returns often lie huge market fluctuations and risks.

VI. About Tenfold in Ten Years

Achieving a tenfold increase in ten years only requires an annualized return rate of 25.89%.
Insight: Although an annualized 25% may not seem high, persisting over the long term is not easy. The key to compound interest is stability and long-term holding, rather than short-term aggressive operations.

VII. About Adding Positions

Adding positions can effectively reduce the cost of holding, but one must judge the future market trend cautiously.
Insight: Adding positions during price pullbacks can dilute costs, but it should also be based on rational judgment of market trends. Excessive adding may lead to a funding dilemma, hence careful operation is necessary.

VIII. About Holding Costs

Partially retaining profits during profitable times can achieve 'zero-cost' investment, but excessive holding may bring about the risk of a pullback.
Insight: Continuing to hold after partially taking profits can reduce risks, but excessive holding may lead to losing all gains when the market pulls back, so flexibility is needed.

IX. About Asset Portfolios

Diversifying asset portfolios can balance risks and returns.
Insight: By allocating funds between risk-free assets and high-volatility assets, one can achieve a balance between risk and return. Reasonable asset allocation can preserve capital and seize market opportunities.