The market has always been a coexistence of two worlds—some assets are booming while others are deserted.

You will find that behind the sharp price increases, there is often a strong growth engine at work; whereas in places where prices stagnate or even decline, you can usually see the exhaustion of growth momentum. This is not a coincidence, but rather the voice of value itself.

The real issue is that most people see the price but fail to understand the logic behind it. Buffett’s famous quote "Be fearful when others are greedy, and greedy when others are fearful" sounds simple, but in reality, very few can truly practice it. The reason is straightforward—during every market fluctuation, emotions tend to run faster than rationality. Greed and fear are like two hands manipulating your decisions, while you think you are in control.

Therefore, the crux of the problem is not the investment strategy itself, but whether you can maintain a clear understanding of value during emotional turbulence. This is the dividing line between true investors and followers.