职投第十年接受命运对我的安排，年化20%

Core Viewpoint - The article reflects on the investment performance over the past decade, highlighting that 2025 is expected to yield high average returns for investors, with a personal return of 18.39% for the year [1][3]. Investment Performance Summary - The annual returns from 2014 to 2025 show fluctuations, with 2025 achieving an 18.39% return, while the average annualized return over the years is 20.79% [2]. - Monthly performance in 2025 indicates a cumulative return of 18.39% by December, with notable monthly variations [2]. Investment Strategy Insights - The investment strategy has been conservative, focusing on low-risk investments, which has limited the ability to capture higher returns during bullish market conditions [3][4]. - The article emphasizes the importance of understanding risk and the need to balance between conservative and aggressive strategies, suggesting that maintaining a high equity position is crucial for better performance [5][7]. Future Investment Directions - The author contemplates future investment strategies, suggesting a focus on non-linear investments such as convertible bonds, which provide a safety net and align with a conservative investment style [5][8]. - There is a recognition that traditional low-risk strategies are becoming less effective, prompting a need for adaptation and exploration of new opportunities [4][6]. Market Trends and Considerations - The article discusses the challenges in the convertible bond market, particularly regarding the effectiveness of the downshift strategy, indicating that market conditions are evolving and require patience and strategic positioning [8][9]. - The potential for gold as a negative correlation asset is highlighted, suggesting it could be a valuable addition to a diversified investment portfolio [9].