I don't want to mislead anyone; I want to systematically explain the logic behind my overall stock position building. Perhaps I just bought 5% of my total position, but you blindly All In. 1. Buying stocks is essentially buying a company's future cash flow, which I won't elaborate on. My stock holdings are primarily for the medium to long term; I don't currently engage in short-term speculation, mainly due to a lack of time and energy. However, I might dedicate more time to this area in the future, given that the only viable strategy in the crypto right now is to short altcoins. 2. Individual stock positions should not exceed 30%. This is the maximum position size to avoid excessive drawdowns/losses caused by incorrect judgments or extreme situations, which could negatively impact the overall portfolio's profitability and mindset. 3. My strategy for building a position is to build it in batches, usually 1/3, 1/3, 1/3. Building a 1/3 position on the left side occurs when a company is in a phase where it is "not favored by the market" for various reasons, directly reflected in a falling stock price. As for when something is considered "reasonable," that's subjective; I estimate it based on future cash flow and the P/E ratio. The next third usually occurs during extreme market crashes, sometimes due to overall market factors (pandemic/escalating US-China relations). Those who experienced the 2022 crash understand this. The last third was added on the right side (due to a significant improvement in performance). The advantage of this is that if you buy too early, you won't feel too bad because you've controlled your position size (like with Meituan). The downside is that sometimes the price goes up quickly before you've bought enough (like Pop Mart). You can All In starting a business, but neither investing nor speculating is acceptable.

What did you buy recently?