From Meituan’s Losses to Bond Mismatch
In the turbulent and unpredictable stock market, we often use faith and expectations as our compass, attempting to navigate through the fog and reach the shores of wealth. However, when our voyage deviates from the guidance of the compass, it’s easy to lose direction, even to run aground. This essay is about one such journey, beginning with an unwavering obsession with Xiaomi, which rose and fell repeatedly amidst the waves of capital.