Yesterday in the live channel, we talked about principles.

[About Principles]
"If Investment Has Principles"
If there is a first principle in investing, it is that once you have determined your principles, you must execute them without compromise.
Only principles can transcend cycles.
No one, regardless of how much money they make, is worthy of envy and respect if they do not have their own principles or if their operations have many fatal bugs.
"Two Kinds of Errors"
There are only two types of mistakes in this world.
Forgivable mistakes can be excused, while unforgivable ones require a strong condemnation of one's own errors.
The former is a mistake made due to insufficient understanding, which is a necessary path that requires spending money to gain knowledge; it is understandable and unavoidable.
The latter is an error of not adhering to principles, which means knowing it is a mistake but still not sticking to one's principles and going ahead with it. This kind of mistake is unforgivable; if you are wrong, you should attack yourself for the mistake.
Many people hold a large portion of their positions empty, thinking in their minds that they believe or are convinced that there will be another great opportunity waiting for them. In my view, this is still greed. They might really be waiting for a significant outcome, but it is not commendable.
The most correct logic for staying in cash should be: I don't believe in anything, and I don't predict that there will be a major crash next. I am merely adhering to my own principles and acting according to them. The current price has not reached my ideal buying point, so I won't buy. My decision to stay in cash is not because I expect a crash next, but simply because it's not yet the opportunity for me to buy. On the surface, everyone is in cash, but the underlying thought patterns are completely different, and the essence is entirely different as well.
Respect All Truly Principled People
In the world of investment, most failures and losses stem from the brotherhood of fear and greed. From a human nature perspective, overcoming fear and greed can be said to be akin to seeking fish from a tree; no one can achieve it.
No matter how much you recite the Diamond Sutra every day, strike the wooden fish, or eat vegetarian and chant Buddha's name, it is all in vain.
To truly address fear and greed, one must start from principles.
Indeed, with principles, everything can become very simple.
Learning the right principle is more important than temporary gains and losses.
Only principles are what you truly earn, and no one can take them away from you.
Without principles, what you earn is likely to be lost again.
With principles, even losses can be earned back.
The Most Basic Principles of Investment
If you don't understand, don't buy; this should be the most basic investment principle.
You dare to buy what you are familiar with.
You dare to invest heavily only in what you are familiar with.
What you are familiar with is what you can hold on to.
You can only earn from what you're familiar with...