After reading it again, I think the most difficult thing is to believe in myself, I believe that everyone is drunk and I wake up alone, rather than my own misjudgment. It is especially difficult to deny when everyone says yes. The difficulty lies in whether the belief is strong enough, and the difficulty lies in self-doubt. Is it me, or is it most people? Before, I always felt that I was going against the market, and what was lacking was the belief in gamble with everything and gamble. It is only now that I can see that all actions against the market are just my own choices after careful consideration. And the premise of all this is that what you see and insist on acknowledging is really the truth after all the whitewashing, betting on 1% with 99%, rather than betting on 99% with 1%. From this logic, being a risk averse is not a bad thing, which is why I am so cautious about risk, but love VCs. The real prudence is to be able to see the opportunity clearly, and when the real opportunity comes, use the 99% prediction accumulated by oneself to fight for a correct, verifiable and general outcome. In the capital world, everyone thinks about their own interests. Irrational investment and various financial tools that cut leeks have turned investment into a game of drumming and passing flowers. The competition of who is the fastest is extremely ridiculous, and the final casualty is heavy. So everything returns to the essence. In textbooks, it is always the assumption of a perfect capital market, and investors are completely rational. Wise people always live in books, but in reality they are full of hotheaded fools. Rather than trusting these "experts", I trust money to think for itself.
View more about The Big Short reviews
