How to Die in Trading by Bottom Picking

1. Graham bottom-picked in 1931 after the stock market bubble burst in 1929, but ended up going bankrupt (reason for failure: bottom-picking)

2. Cao Renchao was bearish at 1,200 points before the Hong Kong stock market crash in 1972, and fell sharply after the Hong Kong stock market reached 1,773 points in 1973. It fell to 400 points in 1974, avoiding the big bear and gaining confidence. After the Hong Kong stock market fell to 290 points in July 1974, he thought it was time to bottom-pick. Hutchison Whampoa fell from 43 yuan in the stock market bubble in 1973 to 5.8 yuan. Cao Renchao bought all the stocks. As a result, the Hong Kong stock market fell to 150 points again in the next five months. Hutchison Whampoa fell to 1.1 yuan. (reason for failure: bottom-picking with all the stocks)

3. Fisher bottom-picked and bought what he thought were cheap stocks after the stock market bubble burst in 1929, but he didn't expect there would be hell, and he lost millions in a few days. (Reason for failure: bottom fishing)

4. The general manager of a fund management company in Shanghai entered the Taiwan stock market when it was over 1,000 points, and continued to reach 10,000 points. The 500,000 yuan she invested in the market grew to 80 million yuan. When it was 10,000 points, she sold all her stocks and had only cash. In the end, the Taiwan stock market rose to over 12,000 points, and the value increased by 160 times in more than three years, but the final outcome was still tragic. When the Taiwan stock market fell from 12,000 points to 7,000 points, it had fallen by more than 5,000 points. It should have rebounded, but she entered again. The stock index fell another 5,000 points, and she had to accept the loss and liquidate all her positions. Three years of wealth turned to ashes again. (Reason for failure: betting on a rebound, trading in waves)