JPMorgan Chase & Co strategists say the implied probability of a US recession in the stock market is 85 per cent; interest rates on US home mortgages are at 5.78 per cent, the highest since 2008; and the Bank of England has raised interest rates for the fifth time in a row, suggesting stronger action. In terms of energy market dynamics, natural gas prices in Europe have soared, Russia's supply cuts have escalated the energy crisis, and Russian Deputy Prime Minister Novak has said there is no need to cut oil production in response to the EU embargo.

1. The past, present, and future of ETF arbitrage trading has been, and will be a legal and compliant market business. Currently, there are many private equity or individuals engaged in such transactions. The mechanism is simple: by providing liquidity to the market, you earn the difference between the real-time price of an ETF and its net worth.
2. Since the subscription and redemption mechanism of ETFs is similar to T+0 for individual stocks, you can trade back and forth an unlimited number of times within a day. There is generally not much profit every day or even every Monday, but it may be quite a bit when accumulated. Moreover, if you can strictly abide by basic rules, such as real-time hedging, not judging even the next second market trend, etc., the probability of losing money is very low.
3. ETF arbitrage traders are typical “risk averse” in the market. Their biggest characteristic is that they don't gamble. Therefore, they are certainly not “speculators” in the minds of many people who seem to understand what they don't know; of course, it doesn't seem appropriate to call them “investors.” Some people jokingly claim that they are “scavengers,” that is, through their hard work, they obtain a stable positive income by picking up broken money discarded by the market little by little.

Received, the market is still in a trough

Don't lament your luck like a woman. If your first and second chances aren't favored by fate, you can still find the reason for your loss and win in your third chance. Don't spend more time with your wife or stay at your mother's house; men aren't made for comfort.

1. Compound interest works miracles.
2. Although everyone wants to become rich overnight, it is very difficult to actually increase the yield. Accept reality with peace of mind and find ways to prolong the effects of compound interest.
3. If you hold a broad-based index for a long time, the yield can also beat inflation and beat most investors.
4. It is rare for long-term earnings to beat the market. Public and credible records show that only Buffett and some “Graham's disciples” who pursue value investing have done so.
5. Even if long-term yields beat the market, they will still experience huge fluctuations in the short term.
6. Value investing is slow, but it is the only sure way to get there.

The main reasons why large funds did not outperform the index include:
1. Collective decision-making. Investments where everyone participates in decision-making will inevitably only achieve average value; it is impossible to achieve excellence; 2. The mentality of following the crowd. Follow the trend and maintain a similar investment portfolio to other large institutions; 3. Institutional restrictions. The consequence of fund managers being maverick is that if they make money, they don't make much profit, and if they lose, they have to bear responsibility, so they still adhere to a moderate approach; 4. Diversify investment. Failure to concentrate on investing in high-quality assets will inevitably reduce yield; 5. Inertia.

Any industry is not progressing along a straight line, but is progressing along the “double S curve.” The fault between the two S curves represents a leap in technological development. Whether it can overcome this discontinuity is related to the life and death of the enterprise.

The pursuit of the best is the most professional pursuit of pure knowledge, just like no matter how beautiful the clouds are, she won't know why she is so beautiful? The dark clouds obscure the sun, but the dark clouds don't know why they are blocking the sun.

On luxury cruises, rooms with artificial windows cost around $20,000 a week. For a long time,DisneyLuxury cruises have always had two types of guest rooms, one with a window and one without a window. The one with a window is cheaper. Those without windows, but those with artificial windows are more expensive. Not having a window is not bad; on the contrary, it's better. Actually, it's just a matter of trade-off. The architect who criticized me is a wooden head, has no knack at all, and is definitely not saved. When it comes to architectural design, of course, there are trade-offs.
In order to leave more space for interaction, and to make it easier for teachers and students from different majors to learn from each other, we abandoned the windows in some rooms. Abandoning the windows in some rooms, our dormitory can accommodate more students, and our dormitory can provide plenty of public space for communication.
Some rooms don't have windows, but the air is very fresh, and we designed artificial windows to perfectly simulate the effects of sunlight exposure.

As Kipling said in his poem, "they are all illusions." There is day and night. Is there anything you can't stand? No. Sometimes it's night, sometimes it's day. Sometimes it's a boom, sometimes it's a recession. I always believe that I should try my best and persevere to the end.