Group 1 - Recent volatility in crude oil futures has highlighted the investment risks associated with event-driven trading strategies [1] - On June 24, the main crude oil futures contract on the Shanghai International Energy Exchange fell by 9%, followed by an additional drop of 8.13% on June 25 [1] - The initial surge in oil prices was driven by escalating tensions between Israel and Iran, which attracted bullish investors, but the subsequent de-escalation led to a rapid reversal in market sentiment [1] Group 2 - The phenomenon of event-driven investing is prevalent across various markets, including stocks and futures, where investors often bet on unpredictable events like wars or "black swan" occurrences [2] - Successful bets on such events can yield significant short-term gains, but they come with substantial risks due to the inherent uncertainty of outcomes [2] - Investors engaging in event-driven strategies should maintain a respectful awareness of the risks, ensuring they are well-informed about the events and potential market impacts before investing [2]