Someone asked Duan Yongping: How do you hold through a major decline? He said that during his holding period of Apple, there were several times when the retracement exceeded 40%, and 30% was quite common. He basically doesn't look at or care about it. After decades of investing, he still can't buy at the lowest point or sell at the highest point. Large drawdowns are normal. But many retail investors expect themselves to execute perfect trades every time. Someone laughed at him for not selling Moutai at 2600, only for it to drop to 1400, nearly halving in value.