---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/42025510.md"
description: "There is a famous psychological phenomenon called the backfire effect. When reality slaps you in the face, instead of cutting your losses, you might cling even more desperately to your mistaken beliefs, all to save face.Admitting a mistake is not shameful. The greatest folly is to ruin yourself just to prove you were right."Weakness and ignorance are not the biggest obstacles to survival; arrogance is."— Liu Cixin, "The Three-Body Problem"$PDD(PDD.US)$XIAOMI-W(01810.HK)"
datetime: "2026-06-19T23:22:25.000Z"
locales:
  - [en](https://longbridge.com/en/topics/42025510.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/42025510.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/42025510.md)
author: "[長野原烟花店交易员](https://longbridge.com/en/profiles/13857406.md)"
---

# There is a famous psychological phenomenon called …


### Related Stocks

- [PDD.US](https://longbridge.com/en/quote/PDD.US.md)
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## Comments (3)

- **想看富兰克林冲我撅嘴 · 2026-06-20T01:54:19.000Z · 👍 3**: As long as you can buy Chinese concept stocks, they'll sell you the entire company
- **hullhutt · 2026-06-19T23:44:14.000Z**: What's going on here? When will it end?