Few people truly practice consistency with Duan Yongping's philosophy:
Always maintain contrarian thinking, know what you don't want
If you can't clearly define the boundaries, it's not a real ability.
Remember: Drowning people are usually good swimmers. Admitting ignorance is more important than displaying cleverness.
The first law of compounding: never interrupt it without reason
If you truly understand the power of compounding, you will realize that the key to investing is not running the fastest, but whether you can persist in going the farthest. If you really understand it, just hold it—no techniques needed.
Investing is that simple; people just tend to make it complicated. Nobody in this world doesn't want to make quick money, so knowing what cannot be done is extremely important.
The more confused you are, the farther ahead you should look. Don't lose yourself in the chaos of immediate circumstances. Instead, use end-game thinking to consider problems. Try to imagine what things will look like in 20 years, or even 30 years.
Some things seem confusing now, but when you extend the time horizon, they become crystal clear. Looking ahead is far more important than blindly rushing forward. If the direction is wrong, effort is wasted.
If you can select the best from the best and pick three stocks, each one sufficient for your family's wealth to sustain indefinitely, then holding these three stocks is safe enough.
Remember: if you're unwilling to own a stock for ten years, then don't consider owning it for ten minutes.
Few people truly practice consistency with Duan Yongping's philosophy:
Always maintain contrarian thinking, know what you don't want
If you can't clearly define the boundaries, it's not a real ability.
Remember:
Drowning people are usually good swimmers. Admitting ignorance is more important than displaying cleverness.
The first law of compounding: never interrupt it without reason
If you truly understand the power of compounding, you will realize that the key to investing is not running the fastest, but whether you can persist in going the farthest. If you really understand it, just hold it—no techniques needed.
Investing is that simple; people just tend to make it complicated. Nobody in this world doesn't want to make quick money, so knowing what cannot be done is extremely important.
The more confused you are, the farther ahead you should look. Don't lose yourself in the chaos of immediate circumstances. Instead, use end-game thinking to consider problems. Try to imagine what things will look like in 20 years, or even 30 years.
Some things seem confusing now, but when you extend the time horizon, they become crystal clear. Looking ahead is far more important than blindly rushing forward. If the direction is wrong, effort is wasted.
If you can select the best from the best and pick three stocks, each one sufficient for your family's wealth to sustain indefinitely, then holding these three stocks is safe enough.
Remember: if you're unwilling to own a stock for ten years, then don't consider owning it for ten minutes.