Zhu Su: Selling at the top is often more dangerous than selling during a decline; excessive confidence can easily lead to counterproductive actions

Three Arrows Capital (3AC) founder Zhu Su stated in a post that, based on his past experience, "selling at the top" is often riskier than selling during a downturn, as the euphoria from successfully timing the market can lead to premature position re-entry and overconfidence.

Zhu Su further pointed out that he suspects Garrett, after gaining hundreds of millions from the 10·10 event, may have been similarly influenced by such hubris, leading him to take on higher risks in subsequent trades.