I’ve been watching *The Edge of the Tides*—a book that’s been revered as a masterpiece by the Chinese community lately.

A story where each generation has its own legends-of-the-age also makes a lot of sense.
In their peak years, IBM, Nokia, and Yahoo were all widely seen as unbeatable.
In the end, they still fell from their “throne” under the tides of the times, losing their dominant positions.
I used to think that bubbles are a very scary thing, but later I realized that every bubble also brings huge opportunities for wealth allocation and distribution.
After all, if capital doesn’t FOMO, ordinary people will never get a chance to turn things around.
And the existence of a bubble doesn’t necessarily mean it’s about to burst right away; bubbles often last for a very long time—long enough that even an absolutely rational person starts to doubt the authenticity of the bubble itself.
So people still need to develop their own investment ability😂—treat investing as a skill that requires lifelong learning, rather than placing faith in a particular “opening-a-trade teacher” or project.
Don’t mindlessly follow one-click buy or sell.
Finally, I’ve attached the PDF version of this book. You can import it into your reading app to read—this kind of “perspective upgrade” feels pretty great, and it helps you understand the essence of cycles and liquidity more clearly.