---
title: "100-Day Reading Sharing Plan — Day 62"
description: "Recently lost so much that I can't even focus on reading, haha. Both assets and returns are at new lows. Might as well go play some ball.$Amazon(AMZN.US) $Novo Nordisk AS(NVO.US) $Cleveland Cliffs(CLF"
type: "topic"
locale: "en"
url: "https://longbridge.com/en/topics/38742303.md"
published_at: "2026-02-14T13:56:10.000Z"
author: "[长期主义接班人](https://longbridge.com/en/profiles/16386327)"
---

# 100-Day Reading Sharing Plan — Day 62

Lately, I've been losing so much that I can't even focus on reading, haha. Both assets and returns are at new lows. Might as well go play some ball. $Amazon(AMZN.US) $Novo Nordisk AS(NVO.US) $Cleveland Cliffs(CLF.US)

"A Random Walk Down Wall Street"

1\. All other things being equal, the lower the risk of a company's stock, the higher the price rational investors (and risk-averse investors) should be willing to pay for it.

2\. All other things being equal, the lower the market interest rate, the higher the price rational investors should be willing to pay for stocks.  
3\. Stocks are like people; someone's performance can thrill one person but bore another. Moreover, if the story of earnings growth is consistently unpopular, the increase in the price-to-earnings ratio may be smaller and slower.

4\. The "cyclical movements" in stock price charts, like a gambler's streak of good or bad luck, are not true cycles.

5\. Humans are born with a love for order and find it difficult to accept the concept of randomness. No matter what the laws of probability tell us, we still look for patterns in random events, regardless of where they appear. People seek patterns not only in the stock market but even when explaining sports phenomena.

### Related Stocks

- [AMZN.US - Amazon](https://longbridge.com/en/quote/AMZN.US.md)
- [NVO.US - Novo Nordisk AS](https://longbridge.com/en/quote/NVO.US.md)
- [CLF.US - Cleveland Cliffs](https://longbridge.com/en/quote/CLF.US.md)

---

> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
