"𝑰𝒏 𝒂 𝒎𝒂𝒓𝒌𝒆𝒕 𝒇𝒖𝒍𝒍 𝒐𝒇 𝒓𝒂𝒏𝒅𝒐𝒎𝒏𝒆𝒔𝒔, 𝒚𝒐𝒖 𝒄𝒂𝒏𝒏𝒐𝒕 𝒄𝒐𝒏𝒕𝒓𝒐𝒍 𝒕𝒉𝒆 𝒐𝒖𝒕𝒄𝒐𝒎𝒆; 𝒕𝒉𝒆 𝒐𝒏𝒍𝒚 𝒕𝒉𝒊𝒏𝒈 𝒚𝒐𝒖 𝒄𝒂𝒏 𝒄𝒐𝒏𝒕𝒓𝒐𝒍 𝒊𝒔 𝒚𝒐𝒖𝒓 𝒊𝒏𝒗𝒆𝒔𝒕𝒎𝒆𝒏𝒕 𝒑𝒓𝒐𝒄𝒆𝒔𝒔." ——This famous insight from Investment Strategist & Author Michael J. Mauboussin rang true in recent markets, especially as the once runaway global AI trade stumbled. This is precisely why ChinaAMC launched its NextGen Active Investment framework—highlighting a global, platform-, and ecosystem-oriented approach—to better navigate turmoil of the global markets. In the upcoming episodes, we will explain why these three pillars matter. Stay tuned! #ActiveInvesting# #GlobalInvesting# #ChinaAMC# 𝐼𝑛𝑣𝑒𝑠𝑡𝑚𝑒𝑛𝑡 𝑖𝑛𝑣𝑜𝑙𝑣𝑒𝑠 𝑟𝑖𝑠𝑘, 𝑖𝑛𝑐𝑙𝑢𝑑𝑖𝑛𝑔 𝑝𝑜𝑠𝑠𝑖𝑏𝑙𝑒 𝑙𝑜𝑠𝑠 𝑜𝑓 𝑝𝑟𝑖𝑛𝑐𝑖𝑝𝑎𝑙. 𝐴𝑛𝑦 𝑓𝑜𝑟𝑒𝑐𝑎𝑠𝑡𝑠, 𝑝𝑟𝑜𝑗𝑒𝑐𝑡𝑖𝑜𝑛𝑠, 𝑜𝑟 𝑜𝑝𝑖𝑛𝑖𝑜𝑛𝑠 𝑐𝑜𝑛𝑡𝑎𝑖𝑛𝑒𝑑 ℎ𝑒𝑟𝑒𝑖𝑛 𝑎𝑟𝑒 𝑓𝑜𝑟 𝑟𝑒𝑓𝑒𝑟𝑒𝑛𝑐𝑒 𝑜𝑛𝑙𝑦 𝑎𝑛𝑑 𝑎𝑟𝑒 𝑛𝑜𝑡 𝑔𝑢𝑎𝑟𝑎𝑛𝑡𝑒𝑒𝑑 𝑡𝑜 𝑜𝑐𝑐𝑢𝑟. 𝑇ℎ𝑒 𝑖𝑛𝑓𝑜𝑟𝑚𝑎𝑡𝑖𝑜𝑛 𝑖𝑛 𝑡ℎ𝑖𝑠 𝑚𝑎𝑡𝑒𝑟𝑖𝑎𝑙 𝑟𝑒𝑓𝑙𝑒𝑐𝑡𝑠 𝑝𝑟𝑒𝑣𝑎𝑖𝑙𝑖𝑛𝑔 𝑚𝑎𝑟𝑘𝑒𝑡 𝑐𝑜𝑛𝑑𝑖𝑡𝑖𝑜𝑛𝑠 𝑎𝑛𝑑 𝑜𝑢𝑟 𝑗𝑢𝑑𝑔𝑚𝑒𝑛𝑡 𝑎𝑠 𝑜𝑓 𝑡ℎ𝑒 𝑟𝑒𝑙𝑒𝑎𝑠𝑒 𝑑𝑎𝑡𝑒, 𝑤ℎ𝑖𝑐ℎ 𝑎𝑟𝑒 𝑠𝑢𝑏𝑗𝑒𝑐𝑡 𝑡𝑜 𝑐ℎ𝑎𝑛𝑔𝑒 𝑤𝑖𝑡ℎ𝑜𝑢𝑡 𝑓𝑢𝑟𝑡ℎ𝑒𝑟 𝑛𝑜𝑡𝑖𝑐𝑒.

if you’re like me thinking why retail still trades so much memecoins or perps but not doing much holy DeFi here’s why: 1) DeFi in ‘26 is a minefield: you’ve protocols blowing up left & right: - some due to opsec (eg. drift, kelp) - economic risks (eg. neutrl) we're seeing 2-3 small protocols blow up ~every week now 2) assume you take the risks: but then also you’ve p low yields blue-chip assets at top protocols like aave, morpho hardly give you 5-6% apy at max eg. there's $250m at kamino just yielding 2.6% apy??! ofc, whales or foundation treasuries can’t off-ramp and have no choice but to do TVL deals & put in this DeFi protocols imagine this: if you’re a retail user who has $5k left will you put in a random protocol for 15% apr knowing your money can blow-up anytime or simply buy memecoins or even gamble in prediction markets in hope to 10x or go 0 casino math makes latter far more lucrative 3) old nyc uncs already knows this trend: hence they declared crypto ‘institutional’ - slapping the clarity act and made the narrative that crypto is just a backend for wall street to push their ‘governance tokens’ it’s good to see crypto’s institutional growth but trying to kill what makes crypto exciting is as sinful as ‘memecoin pump & dump’ both can def. co-exist 4) don’t get me wrong: i love DeFi and love nerdy financial engineering a ton but even as a pro DeFi user of ‘23 (when i’d have used 100+ protocols) putting a huge chunk of my portfolio isn’t good from a r/r perspective now ofc in ‘23 era, you’d farm airdrops, get a $1b+ tge and that’d make it worth it but now most vc-backed token launches are awful to make it farm-worthy and it's same for all my crypto friends i still get nerdsnipped by good DeFi mechanics & exotic assets or interesting sources of yields and still put couple of Ks in them (imo: if you still find an underrated DeFi protocol which can have a good narrative later - you should still deposit who knows it gives you unexpected airdrops like uni/jto) 5) crypto or even stocks is now fast finance: active investing is roaring back exponentially people wanna trade and rotate fast (either memes and stocks) they don’t have to worry much about blowups or their capital getting stuck anywhere (they've stablecoins or bank accounts to park money) as a builder: stop optimising for TVL, DeFi is not just TVL - you can optimise for just volumes or ‘fast finance’ and make tons of money and still perform finest financial engineering 6) tokens are beautiful: do any financial engineering around tokens (eg. memecoins paired with stocks and using creator fees mechanics) and you'll see the true power of crypto composability eg. a token on solana is instantly available at launch to 100s of terminals, wallets, apps etc i.e so you get instant distribution and leverage network effects tldr: long financial engineering, long fast finance!