---
title: "Reading Notes"
description: "1. The rise and fall of stock prices has nothing to do with whether the company selection was right or wrong. 2. A company's stock price and its development prospects are often easily confused. 3. Res"
type: "topic"
locale: "en"
url: "https://longbridge.com/en/topics/38959435.md"
published_at: "2026-02-28T02:37:55.000Z"
author: "[山雨](https://longbridge.com/en/profiles/15750272)"
---

# Reading Notes

1\. The rise and fall of stock prices have nothing to do with whether the company selection is right or wrong.

2\. The company's stock price and its development prospects are often easily confused.

3\. Respect the market. It's already difficult to make money from the stock itself; it's even harder with options or futures.

4\. Choosing to invest in options is equivalent to choosing to become poor quickly, for the following reasons: (1) Options have an expiration date, which contradicts the rise in a company's stock price, because a good company may only rise much later. (2) Option broker trading commissions are very high, making it a sure-win, no-loss business for them. (3) The options market is a zero-sum game. (4) Money in the options market ultimately flows from reckless, careless people to careful, cautious people. (5) Using options to configure portfolio insurance seems safe but is actually foolish. (6) A put option is essentially wasting 5%-10% of your capital each year to protect yourself from a 10% loss in stock price, which can be summed up as "a lot of effort for nothing." (7) Option investing causes investors to lose their original intention, shifting from fundamentals to trends and technical analysis.

---

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