The price of gold has accelerated its rise this month, and it is said that the price of domestic gold jewelry has exceeded 650 yuan per gram. Looking at the rising gold prices every day, my wife, who originally wanted to buy a gold bracelet and had been hoping for a drop in gold prices, had to give up the idea of buying.

At present, there are at least 24 companies related to gold production and sales in the A-share market, such as Zijin Mining, Lao Feng Xiang, China Gold, Shandong Gold, and so on. These companies should have made a lot of money in the past two years. Seeing the current sharp trend of gold, I can't help but recall the past events of the autumn of 2018.

Advertisement

At that time, I found that gold had been adjusted for many years and was very likely to be at the bottom of the market. So I tried to buy tens of thousands of yuan worth of gold, and my colleague also followed me to buy tens of thousands of yuan. Because, at that time, my understanding of gold was limited, and my main focus was on researching stocks and funds, so I sold after making a few hundred yuan. My colleague was confused by the gold market and sold the gold after losing a few hundred yuan.

Now looking back, we were actually buying at the bottom of the gold market at that time, and we missed a chance to make a lot of money! In fact, missing the opportunity to get rich is not terrible, the most terrible thing is not to reflect, and miss the opportunity to make a lot of money again and again. My reflection on this matter is that I didn't make a big mistake by selling gold at that time, because I didn't understand gold very much. Doing something you don't understand, even if you make a lot of money in the end, is just a lucky gamble, which is a dangerous way to make money! It is not conducive to our long-term development of life and investment.

Moreover, I think that in the future, when encountering such opportunities that may be a long-term bottom, we must not give up and must hold firmly for a long time. But soon, I made a similar mistake again. Soon, international crude oil fell to negative, and I, who had studied crude oil deeply, actually did not buy oil funds, which made me miss the opportunity to make a lot of money again!

Missing the bottom of gold is understandable because I don't understand gold very much. Missing the bottom of crude oil is too wrong. Because the petroleum industry is one of the industries I have studied the most. Why did I miss the opportunity within my ability range?

I reflected again, and this time I truly realized my problem: that is, I always worry about not getting a return for many years after buying. I am eager to make money immediately and am not willing to have low capital utilization efficiency. At that time, I knew that crude oil was at a historical low, but I was worried that if I invested in crude oil, I might not be able to make a profit within three to five years. So I chose to invest in A-shares.

Now it seems that investment must be willing to accept low capital utilization efficiency. Those things that look very unpopular now and don't know when they will rise sharply may rise sharply in the next few years, and may even rise to a level we can't imagine in our dreams.This time, I have learned a profound lesson. Currently, I hold a number of niche industry index funds, such as those in the pharmaceutical, real estate, photovoltaic, and other sectors that have been declining for many years. I am prepared to hold them for more than ten years. Slow is fast. Only by enduring what others cannot endure can one earn what others cannot earn.

Some may ask: "Since the gold trend is so good, why not buy gold now?"

I believe that buying gold now may indeed make money, but those who buy gold at such a high position will not have a good mentality, and the speculative mentality is bound to be severe. Taking the risk of being trapped at a high position for many years to fight for a little profit is obviously not a cost-effective deal. Regardless of whether one makes money or not, at least psychologically, one has already lost.

Therefore, cherishing the A-shares that are currently at a historical low and cherishing the several industry sectors that have been plummeting for many years is the most important thing. The current A-shares have fallen to a low area near the ten-year mark, and such an oversold position will inevitably trigger a strong bull market in the future. Such investment opportunities in A-shares are really not a few times in one's life!