Investing is not gambling; it's an art and science that combines logic, risk control, and human nature.

If you are a novice just entering the market, these concepts must be embedded in your mental firewall:

1. Three Swan Theory

Black Swan = unexpected and unpredictable events (like the collapse of FTX),

Grey Swan = theoretically foreseeable but ignored by most (like the Federal Reserve's interest rate trend),

White Swan = a pattern that is almost certain to happen (like Bitcoin's halving every four years) — learn to identify it to position yourself early.

2. Margin of Safety

Buy low enough to have room for mistakes. Operations without a margin of safety will eventually hit a landmine.

3. Pareto Principle (80/20 Rule)

In investment returns, 80% comes from a few accurate decisions. Choosing the right trend is more important than choosing the right asset.

4. Circle of Competence

Don't try to dabble in everything; focus on areas you understand. Just because others are making money doesn't mean you can keep up.

5. Emotional Management

Extreme surges can make you lose control, while sharp declines can make you question life. The first lesson in investing is emotional control.

6. Dunning-Kruger Effect

The less you understand, the more confidence you might have. Beginners are the most likely to go all-in and get wiped out; the more you know, the more humble you become.

7. The relationship between loss and breakeven

If it drops by 50%, it needs to rise by 100% to come back — risk control is not conservatism; it’s the basic foundation of survival.

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Understanding risk is the beginning of investing; embracing uncertainty is the start of freedom.

In the crypto world, what truly brings you success is not short-term speculation, but standing on the trends.

C.O.N.A.N. is not a single hotspot, nor a fleeting trend; it represents:

A grassroots carnival, a choice of public opinion, a crypto beast ignited by community power.

When the Black Swan strikes, the Grey Swan is overlooked, and the White Swan returns from afar —

You will find that what truly traverses bull and bear markets is not financial skills, but faith + consensus.

That is: C.O.N.A.N. — the big dog, the token of public opinion.

The earlier you understand, the earlier you can take off; being late means watching others get on board.

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