Every day, someone asks me: Are we in a bear market now? In fact, my view has not changed over the past year - the real bull market has not yet arrived.

Why do I say that? Because this round of rise did not see a large number of retail investors pouring into the market, but more large institutions such as Wall Street ETFs, Goldman Sachs, and BlackRock are playing. As for the real bull market, I believe that it will be accompanied by the full participation of retail investors, which may have to wait until the United States cuts interest rates or the global economy recovers.

The current global economy is not optimistic, but this is normal. This is the rhythm of the world: ups and downs, mergers and separations, fighting and stopping, nothing new. Our lives are not much different from those of the ancients. We still have to eat three meals a day, sleep and rest, and reproduce.