Topic: How to achieve 10% annual revenue with 10 million yuan? The hot topics these days, I think most of the strategies discussed are quite fancy and have the risk of losses, making it too complicated. Now the yield of 20-year US treasury bond is 5%, and you can directly buy 20-year treasury bond ETF TLT ， Pay dividends every month. By using the most conservative option short selling strategy, it is possible to achieve an additional 2% annualization without losing positions, resulting in an overall annualization of over 7%. Long term bonds become more attractive when interest rates fall, and if the Federal Reserve cuts interest rates in the future, there is still room for TLT to rise. If the rise of treasury bond is included, the probability of short selling of portfolio options in the next 1-3 years is very high, and the average annual rate is 15-20%. If you don't know how to make options, you can buy TLT option strategy ETF TLTW ， The capacity is 1 billion US dollars, I think it should be enough for most people to use. Let's talk about TLT risk again 1] Treasury bond yields continued to rise, while treasury bond continued to fall. The 20-year treasury bond yield is now 5%, and the market expects it to be 6%. It is difficult to sell new bonds, which is almost the critical position for US debt default. True default is like burying global risk assets together. During the process of falling from 5% to 6%, a sell put strategy can be adopted to compensate for the loss. 2] The US dollar exchange rate has plummeted. This is quite possible. If what you are most looking for is U-band returns, you don't need to worry about it, but if it's RMB returns, you can use 1% of the cost as a long-term exchange rate hedge.