"Bear markets are opportunities, while bull markets are risks" is a phrase I strongly agree with.

In a bear market, prices decline, but it's only paper unrealized losses; the chips are continuously accumulating. High-quality assets become more valuable in the long term as they fall, making it the golden window for strategic positioning.

Meanwhile, during a bull market, the market is bustling with voices, consensus is strong, and emotions are狂热. It may seem like opportunities are everywhere, but in reality, it's a meat grinder for capital, harvesting profits at high levels and trapping latecomers.

The vast majority of losses are not caused by bear markets, but by chasing highs and幻想 at the top during bull markets.

True traders buy during bear markets and stay cautious during bull markets. They only position themselves when no one is paying attention, and do not linger during the狂欢 of the masses.