Things that are hard to understand, no matter how lively, should not be touched.

This world changes too quickly. Today it's AI large models, tomorrow it's Web3, and various new opportunities are emerging one after another, making people feel excited.

However, the stronger the uncertainty, the more we need to draw a 'warning line' in our hearts.

In simple terms: stay within your circle of competence and don’t mess around.

For example, AI. With AI being so popular, many people want to hear what the stock god thinks.

And the result? The old gentleman is very realistic: I will not invest and develop everything around AI... If I really want to use AI in business, I’d have to let the more knowledgeable Berkshire vice-chairman Ajit Jain make the choices.

As for myself, I won’t give blind directions.

Pretending to understand what you don’t is the most expensive 'tuition fee' in life, bar none.

Even Buffett maintains a full respect for things he doesn’t understand, and doesn’t meddle blindly. This isn’t about an 'old fossil rejecting new things', but rather that he won’t casually bet money before he has thoroughly studied it.

The world is vast, and there are many opportunities, but just a few that belong to you are enough.

The reasoning is clear. But just holding on isn’t enough. After all, development is still needed, and opportunities must be seized.