Seeing that there have been hardly any messages in the group, Teacher Kou is discussing the market to give everyone some confidence.

The long-term annual average return of the S&P 500 has been around 10% since 1950, and after every major crisis (such as wars, political turmoil, pandemics, etc.), the market downturn has ultimately proven to be a good long-term investment opportunity.

After experiencing a decline of more than 10% over two days, the subsequent average returns for the S&P 500 over 1 year, 3 years, and 5 years are 15%, 25%, and 35% respectively, and historically, every major crash has resulted in positive returns.

On average, bear markets last about 13 months, with a median decline of 32%. If we have currently confirmed entry into a bear market (as of April 2025, the S&P is down 19% from its peak), historical median estimates suggest it may take until March 2026 to recover.

The chart also shows two economic crises we have experienced.

The 2008 subprime crisis triggered a systemic financial collapse, paralyzing the banking system and causing a recession in the real economy.

This was followed by various fiscal assistance measures and the Federal Reserve initiating quantitative easing.

In 2020, the market plummeted due to the pandemic, global economic activity came to a halt, leading to a liquidity crisis.

Subsequently, the Federal Reserve launched unlimited QE, reaching a bottom in one month, and then hitting new highs in the following five months.

The crisis in 2025 is a recession created by human actions, and the favorable measures to stabilize the market have not yet appeared, so we still need to wait patiently.

In the early stages of a bear market, panic selling can create temporary lows, but a true bottom requires multiple confirmations.

People tend to rationalize crises that have already occurred, believing the opportunities were obvious at the time, but will instinctively amplify their fears about crises that have not yet happened.

History shows that in times of crisis, 'danger' and 'opportunity' often coexist; the greater the storm, the more valuable the fish.

Managing emotions well during market fluctuations is key to investing; this time, being brave enough to take over is truly a blessing.