Likes ReceivedFor example, can gold still serve as a safe haven given its huge gains in recent years?
Many people only look at the surface when investing, without thinking about the core issues, such as strong cycles. They only remember buying cyclical products at high valuations and selling at low valuations, resulting in missing out on $CNOOC(00883.HK)$CHINA SHENHUA(01088.HK) in recent years.
Why operate this way? It's because strong cycles see temporary sharp rises in profits, along with significant stock price increases.
But at that time, these two companies were still able to remain profitable (due to low costs and taxes) even when the entire industry was losing money, and their stock prices did not rise significantly due to various factors. Instead, they fell sharply ahead of the boom period.
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