Reading Teacher Fu Haitang's (Way of Trading) reflections:

Part One: Investment Philosophy and Trading Methods

1. Fundamental analysis is a system; it requires understanding economics, politics, project roadmaps, market makers, the macro environment, communities, white papers, financing backgrounds, and human nature, and being able to integrate them.


2. What is the correct method? It is to study supply and demand relations, grasp the law of value, due to forecasting and capturing trend conditions. No matter how many years pass, this method will remain truly effective. This is the program of the universe; no one can change it.


3. Talk more about concepts and less about market conditions; once the concepts are clear, the market conditions will naturally be grasped.


4. Adhere to the truth, believe in yourself, it's hardest when it's most difficult. You must believe that what is true is true. What is false is false. Do not trust what is untrustworthy.


5. Most people believe that all investment methods have flaws, thus giving themselves an excuse not to pursue perfection.


6. Some people trade without belief because they have not clarified the correct logic.


7. Using a wrong method, after making some money, it is very difficult to deny that method.


8. In investing, some people don't understand themselves and go to learn; after listening to many teachers' concepts and methods, they find they understand even less. Most people lack the ability to discern truth from falsehood and learn whatever they see.


9. Talking about technical charts every day is not the correct method for contracts; it is about understanding the commodity, not just the charts.


10. Technical analysis likes statistics, but statistics are about the past and do not represent the future. They are about high probabilities but do not indicate whether the next event is a low-probability event.


10. Combining technical and fundamental analysis does not work. Incorrect things cannot be combined with correct things. For example, if the technical analysis shows a downward break, the fundamentals might suggest buying; who should you listen to?


11. My investment focuses primarily on qualitative research, with quantitative research as a supplement. Qualitative research addresses directional issues; quantitative research addresses magnitude issues.


12. The driver isn't afraid, but the passenger is; don't always communicate, asking this and that. Still, you must study and experience on your own.


13. In any investment field and any investment method, you must invest in certainty.


14. Whether it’s left side or right side, only the certain can be pursued; the uncertain should not be pursued. Whether it’s the left side or the right side is only known after the fact; the key is to know the certainty of future market conditions before the market completes its movement.


15. Human nature is unchanging and convergent; when everyone moves in one direction, be cautious. Most are greedy, fearful, shortsighted, and unreasonable in front of interests. It has been this way in the past and will be in the future. Therefore, regardless of how great the interests are, we must be rational; only by seeking truth from facts can we analyze correctly.


16. Risks come from misjudgment, so one must find ways to see correctly. If you see correctly, risk control is solved, position management is solved, and mindset fluctuations are resolved.


17. Seeing correctly is the best risk control. Whether in stocks, futures, real estate, talent selection, or management, seeing correctly is paramount.


18. Stock prices and cryptocurrency prices are driven by emotions, but the factors causing emotional changes are related policies, events, and corporate profits and losses.


19. Once the scar has healed, forget the pain; this is human nature, so one must invest rationally, following a truth rather than a person's temperament.


Part Two: Economy and Economics



1. The establishment of this market system is planned by the government.

2. The system of this market is formulated by the government.

3. The improvement of this market system is promoted by the government.

4. The efficiency of this market system is managed by the government.

5. The maintenance of this market system is completed by the government.

6. Economic outcomes are caused by policies, which is the greatest economic law.

7. When the state intervenes, see whether it is the government or the cycle that decides. The steering wheel is in the driver's hands, so of course the government decides.

8. Different industries have overestimations, underestimations, booms, and recessions; there is always imbalance. One should not criticize national policies based on the so-called cycles of a single industry, but should look at the comprehensive situation of all industries.

9. Surface analysis easily leads to one-sided or incorrect views, while essential analysis can yield comprehensive and correct views.

10. Material wealth is the foundation, and spiritual wealth is the enhancement; both are important.


Mutual encouragement