Lifetime recommendation for investment beginners｜‘The First Lesson of Investing’ by Brother Meng Yan! If you're experiencing losses or confusion in your investments, I suggest every follower spend 10 days reading this. No exaggeration—over 92% of readers can easily achieve a stable annualized return of 12-15% after finishing it! Here’s a simple summary of the five principles of investing: Principle 1: Stay in the market as much as possible. Principle 2: In the long run, returns mainly come from the growth of corporate profits. The longer you invest, the smaller the contribution of valuation changes to your returns. Principle 3: For every investment, if the holding period is long enough, you don’t need to insist on buying at the lowest price, but also avoid buying too expensively. Principle 4: During long-term holding, you can further improve returns by seizing opportunities to buy at low valuations. Principle 5: If valuations during a bull market are too high, selling a portion can significantly boost long-term returns. The first three principles allow us to achieve stable profits in the stock market—they are the foundation of investing. The last two principles can further enhance returns on top of that, serving as the icing on the cake. Meng Yan’s five principles are easy to understand, and many of us might even scoff at them or dismiss them. But for most investors, firmly executing these principles in the stock market is not as easy as it seems. As Charlie Munger said: Investing is simple, but not easy.