Investing is mostly about waiting. It's not just about finding the bottom, but also having enough patience to see the returns through.

The secondary team released a SOL research report on July 26, 2023. At that time, they built a position around $20, and were very optimistic about the SOL ecosystem and its undervalued potential. But what happened? Continuous news about FTX's OTC share, market panic, and we couldn't hold on either. We fully exited below $25. As a result, we missed out on the subsequent 15x increase.

It's a bit painful, but this is the most honest portrayal of this industry. Investing and trading seem simple, but in reality, every step from start, process, to outcome is a test against human nature. How much short-term fluctuation there is, and how long it takes to see results—besides those who only analyze after the fact, claiming to be right about every rise and fall—no one can predict accurately in advance.

That's why waiting itself is the most difficult lesson.