Do you think running desperately can catch up with others? I used to think so too.

The logic back then was simple—more project brushing, more due diligence, adding a few more positions, anyway, you could always hit a dark horse. It wasn't until later that I realized, making money is not a physical activity, but a multiple-choice question.

Have you seen it? Someone runs very fast but keeps circling in the same place. Conversely, some projects only need you to "see clearly" a little earlier than others; no matter how slow you go, it doesn't matter, but the final results can be worlds apart.

What truly made me stop and reassess these days are those innovation directions that are seriously undervalued by the market. Early insights are often more valuable than later execution. The biggest risk in investing is not missing a rapid rise, but choosing the wrong track.