To achieve wealth in life, one typically needs to navigate through three bull and bear cycles. For an average person without guidance, it takes self-realization and these three cycles to make significant money, along with some talent and luck.
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First Cycle:The average person lacks information, resources, and guidance. They only pay attention to the market when the media heavily reports on it, creating myths of sudden wealth. Regret sets in for not taking a chance, and without patience, only ambition remains, often leading to substantial losses.
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Second Cycle:Most can't endure the bear market of the first cycle. Having experienced the bull market, you might resign from your job, having lost faith in the value of labor. The biggest blow isn't the loss of money or debt, but realizing you're "good for nothing." You don't gain wealth, but you do gain experience. This round is still frustrating, but you start to face reality.
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Third Cycle:Only those with endurance and insight reach this stage. After one bear market and a complete bull-bear cycle, you understand that the capital market has seasons. You know the sun shines in winter and hail falls in summer, but over time, extreme weather can't escape the seasonal cycle. You slowly discover the certainty of the market: seasons are cyclical, and human nature never changes. The patterns are remarkably consistent. As Charlie Munger once said, "Successful people in the capital market often need the rare dual attributes of ambition and patience." At this point, you balance ambition with patience, and with experience and self-decision, you can grasp the rhythm of the third bull market. Making big money becomes natural. With a bit of luck and ancestral virtue, this wave can lead to financial freedom.