$Microsoft(MSFT.US) I saw a post on Xiaohongshu (Little Red Book) and found it very insightful. This isn't about denying the idea of bottom-fishing Microsoft or turning bearish on it just because it crashed hard. It's about using this incident to warn all investors: if you don't even understand why Microsoft fell, or what kind of bottom you're trying to catch (i.e., what informational edge you're trying to profit from), then your current bottom-fishing is just speculation, and you're even calling it value investing. This is highly inadvisable. The strong rebound over the past year might have given many people the illusion that as long as you 'buy the dip,' you can just wait for it to recover. I don't deny that good companies can do that, and Microsoft might even hit new highs again, but the prerequisite is that you have a solid, logical rationale when you buy the dip, not some clumsy imitation of so-called 'value investing.'

Personally, I bought the dip at 423. At the time, I just heard from a friend that it was cheap and that Microsoft is a Mag7 stock. That logic was obviously very fragile. So, I haven't averaged down at all so far. I'll only take the next step when I understand Microsoft and am convinced of its future prospects. Let's all encourage each other.