College Entrance Examination Essay Topic: "Holding the Position"

【Topic Material】

In the 2020 Bank of China crude oil treasure incident, an investor insisted on "holding the position" until a negative settlement, ultimately owing the bank millions; during the 2021 Dogecoin surge, Musk claimed "never to short," prompting countless retail investors to follow suit in holding positions. However, "The Art of War" by Sun Tzu has long taught that "victorious warriors win first and then go to war," and modern quantitative trading models strictly set a 5% forced stop-loss line. When the volatility of the digital world breaks through traditional understandings, and when human greed clashes violently with algorithmic rationality, how should we remain clear-headed in the storm?

Please write an argumentative essay of no less than 800 words on the topic "Holding the Position," combining financial philosophy and life wisdom, to explore the eternal struggle between rationality and obsession in a risk society.

【Topic Explanation】

This question closely ties to the new social phenomena under the wave of financial digitalization. "Holding the position" refers both to the irrational holding behavior in financial trading and can also be interpreted as a survival strategy against the uncertainties of the times. The material provides typical scenarios such as the crude oil treasure incident and cryptocurrency frenzy, creating a dialogue between ancient and modern concepts with references to "The Art of War" and quantitative models. Candidates are required to analyze the psychological mechanisms of fear and greed behind "holding the position," contemplate the warning wisdom of the I Ching's "knowing the few and the spirit," and can also connect to Keynes' theory of "animal spirits," showcasing the level of dialectics in financial behavioral science and philosophy, ultimately pointing to the profound question of how humanity transcends instinct and constructs rationality in the age of digital civilization.