Core Viewpoint - The article reflects on the author's investment experiences over the years, highlighting key mistakes and lessons learned from various market conditions and personal decisions [2][5][9][11]. Group 1: Investment Mistakes and Lessons - The first significant mistake occurred in 1992 when the author missed the opportunity to invest in stock subscription certificates, which skyrocketed in value, illustrating the importance of timely decision-making [3][4]. - The second mistake happened in 2008 during the financial crisis, where the author believed in a market rebound due to the Beijing Olympics, leading to significant losses after initially avoiding the downturn [6][8]. - The third mistake in 2012 involved relying on a perceived market pattern, which resulted in losses when an unexpected market downturn occurred, emphasizing the unpredictability of markets [10][11]. Group 2: Market Conditions and Reactions - The 2008 financial crisis was marked by a significant drop in stock values, with the author managing to limit losses through strategic shifts to bonds, showcasing the importance of asset allocation during downturns [6][7][8]. - The 2012 market conditions were characterized by a false sense of security based on historical data, which led to a quick reversal of gains when the market unexpectedly declined [10][11]. Group 3: Investment Strategies - The article discusses the strategy of investing in closed-end funds and bonds during market downturns, highlighting the benefits of diversifying investments to mitigate risks [6][7]. - The author also reflects on the importance of independent thinking and not succumbing to social pressures or market sentiment, which can lead to poor investment decisions [9].

Core Viewpoint - The article reflects on the past ten years since the significant stock market crash in July 2015, highlighting the volatility and the lessons learned from trading experiences during that period [1]. Group 1: Market Performance and Personal Experiences - The Shanghai Composite Index has fluctuated around 3400 points a decade after the crash from 5178 points in 2015 [1]. - Many traders experienced significant losses during the market downturn, with some recalling their mistakes and missed opportunities, emphasizing the importance of learning from past experiences [2][3]. - The article mentions specific trading strategies, such as short selling and arbitrage, which some traders employed during the market's volatility [2][9]. Group 2: Investment Strategies and Reflections - Some traders successfully capitalized on market conditions, such as engaging in arbitrage with split funds, achieving returns of up to 40% [5]. - The narrative includes reflections on the emotional toll of trading, with traders expressing feelings of fear and regret during downturns, yet also highlighting eventual recovery and learning [3][4]. - The importance of maintaining a long-term perspective and a positive mindset is emphasized, with references to historical wisdom about the transient nature of market conditions [3].