Hao Hong: The One Thing Regular People Should Avoid is High-Leverage ETFs On August 5, 2026, renowned economist Hao Hong (@HAOHONG_CFA) stated in an interview on *Binance Lounge* that he still advises investors against purchasing leveraged ETFs like 2x long SK Hynix. He explained that these products are essentially gamma effect amplifiers, and their trading mechanism requires continuous buying during uptrends and constant selling during downtrends. Regarding the current deleveraging phase, Hao Hong believes that if investors haven’t used leverage or bought at the peak, there’s no need to panic excessively. This is because relevant tech companies are still generating real profits with considerable growth, and the AI tech revolution is advancing rapidly. Additionally, he noted that credit expansion or rising leverage, overarching trends, and relaxed financial regulations are the necessary and sufficient conditions for bubbles to form. Source: Binance 华语