$XIAOMI-W(01810.HK)Many companies go through cycles.

Thinking back to last year when I added to my Google position, it was right at the peak of antitrust issues, with even rumors of breaking up the business, and the stock price was sluggish. Looking back now, it was indeed a good time to add, but back then, even though the price was good, I was impatient and restless. To chase a better cost basis, I did day trading haphazardly, just to shave a few decimals off the cost price. Either that or I thought the position wasn't big enough. I was anxious, greedy, and scared, and in the end, I didn't actually make much profit.

Now holding Xiaomi, I feel that due to its business structure, cyclical factors have a relatively large impact on the company. Coupled with the recent issues caused by Donald Trump affecting oil and thus the supply chain, the short-term outlook doesn't look favorable at all. In this situation, whether sales are high or low, it's quite difficult.

But opportunities always coexist with crisis and benefit, and opportunities look different from a short-term versus a long-term perspective. Even if it's an opportunity, because some people are bearish and won't buy, some people lack the patience to hold, some people can't handle the psychological stress of volatility, some people incur losses from trading during volatility, and some people have poor portfolio allocation, the number of people who can actually make money after all this filtering is probably not many.

Keep a calm mindset and look at the long term. Give up the potential gains from short-term fluctuations to also avoid the risks, and wait for the gains from the future improvement in the cyclical structure.