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].