Today is Children's Day, and my wife and I went grocery shopping at the supermarket at noon. There happened to be an event at the supermarket where customers could participate in a free ring toss activity with their shopping receipts. I let my wife try her luck, and she held six rings in her hand. To our surprise, she managed to toss a ring around a watermelon on her last attempt.

The supermarket is nearly 3 kilometers away from our home. Carrying a 20-pound watermelon, along with the items we bought in two backpacks, was definitely a challenge to our physical strength. At that time, my expression was a mix of joy and worry. I could only grit my teeth and carry on, walking for more than half an hour before we finally made it home.

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If we compare the watermelon to "wealth," then the strength to carry wealth is absolutely necessary. Sometimes I really doubt whether I can bear the "wealth." Carrying a watermelon only requires physical strength, but carrying wealth requires energy and composure.

I remember when I earned my first 10,000 yuan in my life, I was so excited that I couldn't sleep at night. The next day, I spent the whole day in a daze. It can be said that the 10,000 yuan at that time severely affected my physical and mental health. It took me several days to recover from the daze, feeling as if I was dreaming.

I realized at that time that my psychological quality was really too poor. If I had earned 10 million yuan, I would have fainted in the middle of the road. At that time, I realized that there might be many ordinary people's children like me who panic when they encounter larger amounts of money.

The same is true in the stock market. Many people, after their stock value increases by tens of thousands or hundreds of thousands of yuan, become disoriented and then rush to sell, fearing that the money in hand will fall back. This is a manifestation of not being able to bear the burden of great wealth.

There is also a type of person who, after losing tens of percentage points, sells immediately after the stock returns to the original price to ensure the capital is preserved. This is also a manifestation of not being able to bear the burden of great wealth. People who can truly bear great wealth are those who can earn or lose tens of percentage points and gain or lose millions without turning red or panicking. Such people are, of course, not ordinary!

When the A-share market carried out the equity division reform, I lurked in the stocks that were about to undergo the reform. After waiting for the reform to be completed, the stock price soared by more than 100% after the opening. At that time, I was so excited by such a huge profit that my eyes turned red, and I sold it immediately after the opening.

Many years later, I realized that it was a wrong decision. There are not many opportunities like this in life. When we encounter opportunities that can bring us huge profits, we must be calm and bear the wealth. I couldn't do this when I was young, and it was only after the age of 40 that I had such courage and composure.That is, being indifferent to gains and losses of several percentage points, and not feeling bored even if the position is held for several years or even decades without moving. Talking about this reminds me of a question. A fan friend asked: "Mr. Meng, why are you always bullish on the stock market?"

Here I will answer this question in a centralized way:

Firstly, it is because of investment beliefs. As a long-term value investor, my main purpose is to earn the money from the growth and development of companies. And the growth and development of companies are closely related to the national and global economic prospects. I am optimistic about the future economy of our country and the world, and believe that humanity will become increasingly wealthy.

The economy is the foundation of the stock market. If you are optimistic about the economy decades from now, you will naturally be optimistic about the stock market decades from now. Therefore, every downturn, in my eyes, is an opportunity to buy low. Most people do not have investment beliefs, and some people may even think that the earth may be destroyed tomorrow, so such people will not always be bullish on the stock market.

Secondly, it is to view the stock market from a long-term perspective. Almost every article I write analyzes and observes the market from a time span of five to ten years or more, so I cannot be bullish today and bearish tomorrow. My views will not change for at least one or two years. Once I start being bullish, I will continue to be bullish for several years until the stock market shows obvious bubbles.

Those who frequently change their bullish and bearish views are people who do medium-term and short-term traders. They view the market from a medium-term and short-term perspective, and naturally need to frequently change their views according to market changes. Of course, this is also related to their inability to bear too much gains and losses. If their gains or losses are slightly larger, their mentality will change greatly, and they will change their bullish or bearish positions. In the final analysis, they cannot bear too much wealth.