1️⃣ When stocks are surging rapidly, most people are afraid to buy. They want to wait for a pullback or a specific price level before entering. The problem is that when the stock actually pulls back, the trend is gone. Buying in at that point is like catching a falling knife. Once you're trapped and down by tens of percentage points, these same people start wailing, claiming savings are a scam and the cycle is over. 2️⃣ For stocks that have already been hyped, people still obsess over financial reports, deceiving themselves into thinking they are 'value investing' because the reports look good. Actually, many private equity bosses frequently make this mistake. Take Pop Mart, Yangtze Optical Fibre, and Nokia, which I mentioned earlier; even those who focus on fundamentals think the earnings are decent and decide to hold...