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Over the weekend, I looked at the reading data for my articles, and a striking phenomenon came into my sight: articles describing dire situations were far ahead in terms of reading volume.

This seems to reveal a common psychology: people tend to pay more attention to bad news and are skeptical of good news, which dampens their investment enthusiasm.

This does not necessarily mean that the reality is really terrible. We are in the era of algorithms, where information dissemination follows the Matthew effect, personal preferences are infinitely magnified, and self-media can only follow the trend, so the atmosphere of pessimism is becoming more and more intense.

But if we analyze the macro data in July, we will find some bright spots. Production is stronger than consumption, and external demand is stronger than domestic demand. Although real estate investment appears weak, the year-on-year growth rate of foreign trade imports and exports is still high, the production and manufacturing momentum is strong, and the growth rate of industrial added value is 5.1%, exceeding expectations.

It is particularly worth mentioning that some high-tech manufacturing industries have performed well. For example, the railway, shipbuilding, and aerospace manufacturing industries have grown at a rate of up to 12.7%, with both their scale and growth rate being remarkable.

Faced with such market conditions, should we think more calmly? The current market price-performance ratio is actually quite high. For ordinary people, this may be a rare opportunity in a lifetime. There may only be 10%-20% room to go down, but there may be 50%-100% potential to go up. In the game, the expected odds of 1:2.5 or 1:3 are already quite considerable, and the current odds are as high as 1:5, which is almost once in a decade. For real professional speculators, they are most concerned about the odds, because risks cannot be avoided, and now is the stage of positive odds, that is, more wins and less losses.