I saw an interesting piece of data today: According to public fund statistics, the current number of eligible investors for Nasdaq related products in China is approximately 3.2 million to 4.2 million. Sounds like a lot. But in terms of China's population base, it is actually very small. More importantly, only 400000 to 600000 people may actually hold it for more than three years. This is the most authentic aspect of regular investment. Many people think that buying is difficult when it comes to regular investments. Actually, it's not. The hardest part of investing is whether you can do the same thing for several consecutive years. NASDAQ is not without volatility. The COVID-19 pandemic plummeted in 2020, interest rate hikes in 2022 will kill valuations, and the AI market will continue to retreat. Every round of fluctuation will filter out a group of people. Some people start to doubt after a 10% drop. Stop investing after a 20% drop. If it drops by 30%, I feel like I've been deceived. There are many more typical people: When the price rises, I feel like I'm buying too little, I dare not buy again when it falls. The final vote turned into an emotional vote. But what really widens the gap is often not who buys the smartest, but who can hold on longer. You can see this data clearly: In compliance channels, there are not many people involved in the targeted investment of Nasdaq. There are even fewer people who can persist for more than three years. What does this mean? What ordinary people lack is not tools. Now through public funds QDII、 The participation of Nasdaq related products in US stock technology assets has made the entrance much more convenient than before. What is truly lacking is long-term discipline. Behind Nasdaq is not a string of candlesticks. It represents American technology companies AI、 Cloud computing, semiconductor, software platform, global Internet ecology. What you bought is not the rise and fall of a certain day. What you are buying is the probability that the technology company will continue to make money in the next decade. Of course, this does not mean that investing in the Nasdaq is risk-free. High valuations can cause a pullback, exchange rates can fluctuate, and limits, premiums, and product rules can also affect the user experience. Everyone's cash flow, position, and risk tolerance are different, don't copy others. But if a person cannot persist for even three years, then they are not actually making a regular investment. He only bought a few times when the market was good. Fixed pitch is not a sprint. It's not about staying enthusiastic for a few months. It's more like a long-term habit: There is income, There is a plan, There is cash flow, Be mentally prepared, Then repeat the execution during the rise and fall. What is truly scarce is not Nasdaq. What is truly scarce is that when others doubt, stop, or withdraw, you can still continue according to your own plan. The biggest threshold for regular investment has never been the buy button. But three years later, are you still there or not.