I recently revisited quotes from a great writer on markets, and honestly, it really resonates with what we're experiencing right now. One thing that struck me: people make mistakes not because they don't understand, but because they think they know everything. This is so true in crypto.

The recurring point from this writer Soro is the idea that everything always goes up and down. The important thing isn't predicting where it will go, but recognizing when the trend changes. Finding the turning point—that's the key. And honestly, it's more difficult than it seems.

What also interests me is his view on risk. It's good to take risks, but don't risk your entire fortune. It sounds obvious when said like that, but how many people ignore this basic principle? Risk management is really what separates surviving investors from others.

A particularly disturbing quote from this writer: the global economic history is a series of illusions and lies. The way to get rich is to recognize the illusion, get involved, then withdraw before everyone discovers the game. It's harsh but makes you think about market cycles and how bubbles form.

What I like about this thinker is that he doesn't hide the fact that market prices always distort fundamentals. Present expectations shape future events, not the other way around. And this reflexivity he describes, where prices themselves become a fundamental, is exactly what we see in crypto with sentiment cycles.

But there's also a humility involved. Admitting a mistake is something to be proud of. A truly excellent investor doesn't depend on always winning, but rather on having the courage to get back up after each failure. And honestly, not knowing what will happen in the future isn't scary. What's scary is not knowing how to face it if it happens.

The quote from this writer Soro that stays with me: investing isn't about following the trend. If you follow others, you'll be doomed to failure. The important thing isn't whether your judgment is right or wrong, but maximizing your power when you're right. That's what I try to remember when I see everyone rushing into the same trend.