Recently, everyone has been hyping up LST/re-staking as if "you can grow cat food even while sleeping," and I start to want to pour some cold water on it... The returns, honestly, still come from two sources: one is the rewards from the underlying staking itself, and the other is selling the same security again (others paying to buy your endorsement).

The problem is also here: the more times you sell, the more "in case" layers there are—protocol bugs, penalties, liquidity drying up, or even chain withdrawals where you want to run but have to refresh/retry/queue for a long time, which can really break your mindset.
Plus, with recent debates about privacy coins, mixers, and regulatory boundaries getting heated, I’m even less willing to put my position into a structure that "looks smart but is complicated to explain"...
Anyway, I’ll try with a small position myself; if I lose money, I’ll just consider it tuition. That’s all for now.