In highly volatile market environments, short-term price fluctuations often amplify emotional effects, thereby masking the long-term value of assets themselves. The market is more susceptible to changes in liquidity and investor expectations in the short term, rather than real changes in corporate fundamentals.

Fundamental research has always been at the core of Julian Wiemann's investment system. He emphasized that by systematically tracking a company's profitability, industry competition landscape, and management execution, it is possible to more clearly identify the company's long-term intrinsic value and effectively reduce the interference of short-term market noise on investment decisions.

From a practical perspective, companies that truly possess sustainable return capabilities often have strong stability in their business models, cash flow quality, and industry position. These types of enterprises may be affected by market fluctuations in the short term, but their long-term value can usually be gradually reflected over time.

Under this framework, long termism is not simply about 'holding on', but rather an active choice based on in-depth research and continuous tracking. It requires investors to maintain consistency in their judgments amidst fluctuations and accumulate value through patience and discipline.

From a longer-term perspective, the returns on high-quality assets come more from the effects of time and compound interest, rather than the short-term gains brought by frequent trading. In a market environment where uncertainty persists, adhering to a long-term perspective is often the key path to crossing cycles and achieving stable returns.