I just finished watching Duan Yongping's interview, and it was truly a complete watch without missing a single frame.

As expected from an old hand in the secondary market, that feeling of "true insights and plain words, yet healing and transparent" is very satisfying to watch.
Although Duan Yongping's capital scale, unlimited backing (this is extremely crucial), and the market environment he is in are completely different from us crypto traders, I still resonate with some aspects of his philosophy and position management.

For example:

Why can NetEase hold onto its 20 times profit over 6 months and Pinduoduo's high profits?
The core reason is actually very simple - low position.
Chasing alpha, beyond investment research, what is more critical is:
Try to use a low position to seize opportunities; this is one of the reasons why you can hold on.

For example, he mentioned the **"Twenty Holes" theory**.
In my opinion, this is more like a Beta asset that a person is willing to hold for the long term.
In the cryptocurrency space, if you ask me which asset I would be willing to take a large position in, or even go all in on,
Currently, there is only one for me: BTC.
If you really don't know what to buy, just buy BTC in a bull market.
Of course, this is in the context of a bull market.
As for the bear market, I personally prefer U-based.
Based on these thoughts, I made a Not to Do List for myself:
1️⃣ Do not exceed a 5% position in small coins within the exchange, strictly avoid "gambling".
2️⃣ Maintain U-based as the main focus for the next year.