First of all, congratulations to your friend for not playing stocks and futures. Stocks and futures are like meat grinders for retail investors. You don’t know how to die, let alone precious metals such as foreign exchange. Our colleagues in the industry all know this, so no one ever plays with it. Commodity securitization is a relatively new concept, but we have all seen its application. For example, the mooncake coupons you can see during the Mid-Autumn Festival are a type of commodity securities. There is a joke about mooncakes that talks about commodity securitization. The mooncake manufacturer produced a mooncake coupon with a face value of 100 yuan and sold it to the dealer for 65 yuan. The company's HR purchased mooncake coupons at a price of 80 yuan and gave them to company employees as a Mid-Autumn Festival benefit. After the employees got the coupons, the employees who did not need the mooncakes sold the coupons to scalpers for 40 yuan, and the scalpers sold them back to the mooncake factory for 50 yuan. As a result, the mooncake factory produced nothing and earned 15 yuan per coupon. It's amazing. Commodity securities are the mooncake coupons. To put it bluntly, they are delivery coupons. As long as you have it, you can pick up the goods. When it comes to investment, commodity securitization is much safer than stocks, futures, and foreign exchange. The purpose of investing is to speculate on the appreciation and then earn the difference. If stocks, futures and foreign exchange are trapped, you will lose everything. The asset package of commodity securities is different. If it appreciates, you can sell it and make a profit. If it depreciates, you can choose to take delivery, just like a mooncake coupon. You buy one from the market for 50. If you sell a 100 mooncake coupon when it reaches 60, you will earn 10 yuan. If you sell it to a scalper and the scalper only gives you 20 yuan, then you can just get the mooncake and eat it. Anyway, it will cost you hundreds. There are currently commodity securitization platforms for liquor and jewelry in China. The income depends on luck, but there is basically no loss. This thing has no shelf life, and the longer it is kept, the more valuable it becomes. But the most important thing is the platform. If the platform is not reliable, no matter how reliable the investment is, it will still fly.