While going long on non-ferrous metals, I also went long on a marginal oil and gas company, and they need to meet the conditions of long-term upward trend while being able to complete hedging; on this basis, I even took out thousands of options as insurance for my various positions. But in reality, when I promote something, many people just see one post and can't copy the entire strategy. So, it's about understanding the logic, not directly copying homework, otherwise I'd just be standing there watching you all die.

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​First, don't copy homework; second, don't use leverage; third, don't chase time-sensitive things, unless you are clearly gambling. All options, if they are not for insurance and backed by a complete portfolio strategy, are not called investment.

Many people don't even understand that things for two or three, three to five years are also called speculation in my book. For example, whether it's non-ferrous metals or oil and gas, I am speculating because of some structural demand or capital. I'm willing to go with them for a few years, but not for 10, 20 years or even longer.

Investment is when I understand this business, truly study it as if it were my own business, and I'm willing to accompany it for a very long period, a duration I myself don't know. The process is not static either; I might use various strategies for it, such as keeping a base position, doing some day trading (T) with part of the strategy, or using options for insurance or profit expansion under specific volatility expectations. The core is to maintain my core holdings; protecting the ship itself, and not wanting to get off for a very long time is what's called investment.

$Southern Copper(SCCO.US)

$Albemarle(ALB.US)

$Cleveland Cliffs(CLF.US)

$Liberty Energy(LBRT.US)