The Little Stream in the Forest 1. Many people are very afraid of bear markets, thinking that if a bear market comes, it will be over. Indeed, all mainstream assets are declining, but you can hold U to avoid such losses. However, you may think this is nonsense. Why didn't you do this? Because bear markets are a posterior perspective, in the current market downturn, you still cannot see whether the market will continue to weaken or improve in the future. 2. I firmly believe that wherever there is water, there are fish. Believing in places with liquidity will lead to seizing opportunities. The liquidity of a bull market is like a turbulent river, very excited. Opportunities come and go very quickly, and there are many competing fishermen. Fishing on such a large river actually involves considerable mental pressure, requiring constant mental tension. And the liquidity of bear markets is like a small stream in the mountains, very soothing. There are relatively few fish, but usually there are no other fishermen competing with me in the entire river. If you can block the panicked noise around you, fishing on such a small stream actually has some charm. 3. Finally, what Sha Ge wants to say is that bear markets do not have strong narrative opportunities. But opportunities with high randomness like Trump and Pandora are no different from a bull market. Cheer up and go fishing in the creek.