Zhu Su: Selling at the top is often more dangerous than selling during a downtrend; overconfidence can easily lead to the opposite of the expected outcome.

Zhu Su, founder of 3AC Capital, wrote that based on his past experience, "selling at the top" is often riskier than selling during a downtrend, because the euphoria from successfully exiting at the top can easily lead to premature averaging down and overconfidence. Zhu Su further pointed out that he suspects Garrett, after gaining hundreds of millions of dollars in profits from the October 10th incident, may have been influenced by similar overconfidence, thus taking on higher risks in subsequent transactions.