Recently, I came across an interesting asset comparison case that really illustrates the point.

Going back to investment decisions from 10 years ago—those investors who bought diamonds have seen a decline of up to 99%, with 10,000 yuan now worth only 100 yuan. In contrast, the performance of gold during the same period has been markedly different. In 2015, gold was priced at approximately $1061 per ounce, and by 2025, it has risen to $4299.52 per ounce, a gain of 305.2%, turning 10,000 yuan into 40,000 yuan.

This stark contrast reflects a phenomenon: traditional assets vary greatly in performance, and the market is constantly redefining what truly constitutes a value niche. Those who adjust their strategies in time are instead looking for the next opportunity—such as reallocating funds from previous holdings into areas with greater growth potential. In the current market environment, many investors are closely watching new investment opportunities, waiting for the real turnaround moment. The art of asset allocation lies in identifying which bubbles are sunk costs and which are future growth points.