A reflection by Yili Hua, founder of Liquid Capital (formerly LD Capital), very authentic.

On July 26, 2023, the team released a SOL research report,

and completed their position around $20, believing the SOL ecosystem was undervalued.

However, rumors about FTX-related OTC shares kept surfacing,

and under emotional pressure, they exited their positions below $50,

missing nearly a 15x increase afterward.

Looking back, their judgment was not wrong,

the issue was failing to endure the 'waiting' phase.

The hardest part of investing,

is often not buying at the bottom, but enduring the uncertainty before realizing the outcome.

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