Why do 80% of retail investors lose money in a bull market? Because they sell low and buy high, and because they chase rising prices and sell on dips.

According to statistics, in the last bull market, 190 million retail investors made a total profit of 6.7 billion. You might say, 6.7 billion is not a small amount! If I can get a small share from this 6.7 billion, I could even marry a freshly graduated college student, right? But don't celebrate too early. Retail investors are divided into 'big fish' and 'small fish.' Those with investment accounts over 500,000 (big fish) made a total profit of 254 billion, while those with accounts below 500,000 (small fish) lost a total of 250 billion. Do you see the problem? Trading stocks does not create wealth; it is merely a process of wealth redistribution.

And the bull market only serves as a means to mix the wine.