Recently, when the stock market was rising, everyone went crazy chasing gains, and Threads was flooded with articles about stock investing—hot stocks, trending sectors, you name it. Now that the market has dropped, everyone is lamenting. In truth, after investing for a while, you come to realize that market ups and downs always follow this pattern: when prices rise, emotions run high and everyone rushes in; when prices fall, everyone cries out in regret, wondering why they chased highs in the first place. Investing is essentially a buildup of emotions, swinging wildly between extremes—sometimes euphoric, sometimes despairing. The most important thing for long-term investing is risk management. During the recent sharp rally, those practicing risk management probably looked foolish—but looking back, they were likely among those who lost the least. Why? Because they maintained proper asset allocation, avoided overexposure to high-risk stocks, and set clear stop-losses in advance. In short: to succeed in stock investing over the long term, risk management matters far more than any single number on your statement. Very few people can become investing gurus who perfectly time trends and watch their wealth surge relentlessly.