In casino terms, it means to bet all the chips. Naturally, a picture of a gambler pushing all his chips forward in a Hong Kong film will appear in your mind. Of course, it will be accompanied by music different from mine, which is exciting and low-key.
Speaking of ALL IN, we might as well look at a story of Livermore, who is the greatest speculator in the history of Wall Street. I don't use "one" after "greatest" here, because Livermore is so great and talented in the history of American stock market speculation, and its greatness lies not only in President Wilson's request to close cotton futures in 19 1907 to save the country, but also in JPMorgan Chase's request in 1907 stock market crash. What we are going to talk about here is how he made a comeback after three bankruptcies.
Mike Wu wrote this story in an article commemorating Livermore. After three bankruptcies, Livermore regained its peak through the stock ALL IN "Bethlehem Steel".
"19 14 years, after Livermore experienced the third bankruptcy, the United States experienced another four years of Great Depression, and the capital market was unremarkable and had no profit-making effect. At the same time, he also owed millions of dollars in huge debts. He seems to be at the end of his rope again, because only one brokerage company can give him 500 shares of credit loan. In other words, for his life, there is only one bullet, one chance to pull the trigger, and either win or lose. If he can't have this only chance, first, look at the market correctly; Second, choose the right stock; Third, seize the opportunity; Fourth, show courage. No matter which of these four conditions goes wrong, it will lead to never turning over again. Then maybe he can only go bankrupt forever, and then leave the capital market forever like 99.99% people. In other words, if Livermore wants to survive, he must make a transaction with a success rate of 99.99%, when the stock market was in a four-year economic recession. This difficulty is unimaginable. " I took this article directly from Mike Wu. In fact, the pressure on Livermore to mature at that time can be imagined. At the critical moment, he did it! In short, it has also achieved success.
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From Livermore's story, we can generally feel the feeling of ALL IN the critical moment of life, but we still need to explore further. The first thing we have to solve is what is the "critical moment"? Discussion on the same thing must be based on the same cognition, otherwise it is basically a chicken talking to a duck, which is meaningless. For example, if you travel to ancient times, tell the ancients where there is a "computer" and I want to use it. Basically, the ancients didn't know what you were talking about, and then you were bound to quarrel, just as it was difficult for you to describe the difference between "blue" and "red" to the blind.
We usually meet new things. When we first talked about this new thing, we could only talk about it. Say "that thing" first. You basically know what "that thing" is, but outsiders still don't understand it until something new is given a "concept", such as "blockchain". So when you say that you want to discuss blockchain, although others may not know what blockchain is, at least you can know what you are talking about.
As we know, in customer service or satisfaction research, there is a concept called critical moment. In the service industries such as airlines or banks, by dissecting every link in customer service, the key links that affect customer experience are found, and the quality of these key service links is studied and improved to improve customer satisfaction. Basically, as long as all the links involving customers are critical moments, enterprises that adopt the concept of critical moments will make you feel thoughtful in service and perfect in details. For example, when you walk into China Merchants Bank, you can roughly understand this feeling.
Back to personal critical moments, I think it is those moments that are of great significance to your personal destiny or development. Many people will look back and say "I wish I hadn't done that" or "I should have gnashed my teeth", but obviously "then" is the "critical moment" for you to face the thing you regret today. In fact, it takes your wisdom to make a correct judgment in the face of critical moments, but I think God should not throw an olive branch to you only once or twice in your life, but we can see that some people have escaped all the "critical moments" with their agile skills, and basically their mediocre lives are predictable. Seeing this, someone said: I have never met a critical moment in my life.
Of course, why can't some people even grasp a critical moment? Some people even say that they haven't met a critical moment. In fact, it is more likely that they may not realize that this is a critical moment. The ability to find critical moments requires you to have the ability and habit of introspection. The popular saying may be called "recovery". In The Road to Wealth and Freedom, Li Xiaolai called this ability "metacognition", and I like to call it "consciousness". We often say that this person has no "consciousness", that is, he lacks the necessary perceptual ability, and he can't recognize what everyone knows. If you are highly conscious, you can realize what most people can't. Then it's not a pediatrician's job to find the critical moment in your life. Reading can improve the ability of consciousness, especially history, sociology and philosophy.
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Understand the concept of critical moment, it should be said that when you face the same moment again, your attitude should be different, but there may still be differences, that is, will you all go in? In the face of the critical moment, some people may say, this is indeed an important node. Let me try. Some people may say, ah, this is a critical moment, but I feel that my ability is not enough, and I am afraid I can't grasp it. In fact, ALL IN has different ALL IN methods. You push out all the chips in the casino. In terms of investment, it is the allocation of positions. Buffett's "concentrated investment" is a way of all-in. When he finds a good opportunity in a good enterprise, he dares to take a heavy position, so that he can make a lot of money. Many investors are happy to say that his stock has gone up and bought 100 shares only after asking.
ALL IN, of course, not only refers to money betting, but in fact, in many cases, what is more important than money is our time. Everyone has only 24 hours a day, which is absolutely fair. The difference lies in your attitude towards time. So more often, we discuss whether you regard this as an extremely important thing for you and devote yourself to it after making a decision.
In fact, the experience of people who have all bet and those who have not all bet is completely different. For example, starting a business is basically a risky behavior that everyone thinks, and it means that everything in the company needs you to make a decision after starting a business. Entrepreneurs basically have no concept of holidays. For example, the company needs you to prepare for a new company or new department, so that the grass-roots employees in the original department can feel at ease, and once you take over this challenge, it is like getting on the motor. It should be said that ALL IN can make people grow up quickly, and it also requires a lot of energy, so not everyone can understand the critical moment. Some people will think, "Do I need to be so tired?" And "ALL IN" means that I won't have a comfortable life for a long time, so I will reconsider. But as Ma Yun said, I have seen many successful people have a hard time starting a business, but I think unsuccessful people are even more difficult. They have to live a poor life. (It means something like this.)
Of course, we're not advocating that you think it's cool for Chow Yun Fat to launch all the chips when people are watching, so you will have ALL IN your life from time to time. In this case, you basically have a problem with your chances. Just as a foundation with extremely scattered positions gets a mediocre net worth curve, betting on at's life will not be dazzling. In fact, there are not many critical moments in life that can affect fate. It's enough for you to seize those moments.
Do you remember the feeling of loving someone wholeheartedly? Now, please get ready and go all out at that critical moment that belongs to you in the future.