Graham wrote in 'The Intelligent Investor' in the section 'A Century of Stock Market History':

He recommended that investors adopt the following strategies given the circumstances of 1964:

1. Do not borrow money to buy or hold securities.

2. Do not increase the proportion of funds allocated to buying stocks.

3. Reduce stock holdings to less than 50% of total investments.

In 2022, I talked about a '3331 strategy', which is 30% in gold for preservation, 30% in US dollars, 30% in stocks, and 10% in cash.

More than three years have passed, and comparing the trends of international markets in gold, US dollars, and the A-share market, this cautious strategy has proven to be correct.

As Mr. Graham wrote in his book: We do not encourage the practice of 'beating the market' and 'picking winners'.

We should be more cautious in cryptocurrency trading!