Many people say that the four-year cycle is already out, but what I want to say is——the cycle itself will never die, it’s just the face that’s changing.

Maybe a ten-year cycle, maybe a twenty-year cycle, the cycle has just changed its rhythm and form. What is coming will still come, and what must go will eventually go. The key is not to predict how the cycle will unfold, but to understand where you are right now.

That’s why some make money in volatility, while others lose money in volatility. It’s not because someone is smarter than another, but because someone maintains clarity. Not greedy, not panicking, knowing when to act and when to stay calm.

How the market moves, human greed and fear are always writing the same story. Rather than painstakingly predicting the cycle’s direction, it’s better to first understand your position in this cycle. With a calm and open mind like seeing the South Mountain, you can survive longer in the market.