Portfolio value
--CNY
守住本金，建立穿越周期的金融资产 Protect principal. Build assets that survive cycles. IBFUTU Principle
万物皆周期，反者道之动 Everything moves in cycles. Reversal is the motion. Cycle Thinking
选择永远都大于努力 Risk first. Return second. Capital Discipline
独立思考，明辨是非 Think independently. Discern what is true. Research Habit
About IBFUTU
IBFUTU 是一个记录模拟投资的公开组合看板。只为验证投资逻辑，公开页面保持只读；管理员模式用于维护持仓、刷新行情和进入研究工具。
IBFUTU is a public portfolio dashboard for recording simulated investing. It exists only to test investment logic. Public pages stay read-only; admin mode is for maintaining positions, refreshing quotes, and entering research tools.
About the portfolio ›IBFUTU Notes
投资笔记 Investment Notes
好文分享，自由之路的根基。 Selected writing, the foundation of freedom.
从百万到千万：劳动之外的跃迁 From Labor Income to Compounding Wealth
只靠劳动，终身价值很容易被货币计价锁在百万级。真正的跃迁，来自工资之外的机会、复利意识和个人 Alpha。 Labor income alone can cap lifetime value. Real mobility begins with opportunities beyond wages, compounding, and personal alpha.
仓位、群体与长期体系 Position, People and Long-Term System
投资是一门功课，守财也是一门功课。长期可持续的循环体系，来自稳定的群体、清醒的仓位和风险控制。 Investing and preserving capital are both disciplines. A durable system begins with people, position sizing, and risk control.
房地产退潮后：城市更新、资产逻辑与财富安全 After the Property Boom: Cycles, Cash Flow and Choice
城市停止外扩后，房产逻辑从潜在红利回到地段与现金流。比起押注普涨，更重要的是拒绝过度杠杆，保留选择。 As expansion ends, durable value shifts toward location, cash flow, liquidity, and the freedom to choose.