Intel's 28% Plunge Dominates the Night! But Bin's Latest Reflection: Era Dividends Are Never a Free Gift, Staying True to Your Convictions Amid Panic Is Real Fortitude

On the night of Intel's dramatic selloff, well-known private fund investor But Bin posted on social media, sharing his investment reflections on the recent sharp swings in US tech giants.

But Bin stated: The reason the vast majority of people miss one era after another is precisely because even in a major bull market, the journey is never smooth sailing. People used to say that investing in US stocks was easy — as if picking the right tech leaders and simply holding on would let you reap the dividends of the era. It is only when sustained heavy declines arrive that you realize how difficult it truly is. US stocks have no price limit restrictions, and the intensity of volatility often exceeds expectations. A single-day plunge of nearly 30% like Intel's is rarely seen in A-shares. Even recognized industry leaders can face dramatic valuation repricing due to a single guidance miss or an operational disruption. Along the long upward march, there are always sharp pullbacks, choppy consolidation, and panic-driven selloffs interspersed throughout.

When caught in the middle of it, people are easily swept up by massive short-term swings: during declines, they doubt the long-term thesis and mistake a temporary correction for the end of a trend; during choppy markets, anxiety becomes unbearable and they cannot hold onto quality positions. Many people only see the result of tech giants climbing steadily over long cycles, but overlook the countless heart-stopping drawdowns along the way.

The dividends of an era are never a free gift — they come wrapped in turbulence, fear, and repeated tests. Those who can ride through cycles need not only a clear view of the long-term direction, but also the fortitude to withstand the storms along the way — to hold onto their convictions when the market panics, and not let short-term price movements disrupt their judgment about industries and companies. Many people are not incapable of understanding the big trends; they simply cannot endure the bumps along the road, falling again and again just before dawn, and ultimately letting the opportunities of the era slip past them.

Intel (INTC) shares plunged nearly 28% in a single session, while Intel-T (04335) also came under significant pressure.