Are you familiar with the person named Duan Yongping, known as the "Buffett of the East" in China's investment world? If you seriously study his investment strategies and philosophy, you are sure to gain some form of inspiration.

Duan Yongping is truly a legendary figure. At age 28, he took over a small factory in debt and rapidly grew its annual output value to about 10 billion yuan within just a few years. Later, he left Yihua Group to establish BBK Electronics, and achieved success such as winning the "Top Brand" award in CCTV advertising for two consecutive years. In 1999, he split BBK into multiple businesses, which eventually led to the creation of the two major smartphone brands, OPPO and vivo.

Duan Yongping retired from corporate management at age 40 and moved to the United States to fully start his investment activities. In 2006, he became the first Chinese investor to secure a lunch with Warren Buffett for $620k, and it’s famous that he proposed Apple’s competitive advantage to Buffett during that meeting.

Looking at his investment track record, his net worth from investments in NetEase grew from an initial $2 million to over $100 million. He began buying Apple shares when its market cap was less than $300 billion in 2011, and now his holdings are worth over $10.2 billion. He regards Kweichow Moutai as a "long-term bond," holding it for over ten years, and also strategically invests in Pinduoduo and Tencent.

Now, let’s look at the 10 investment principles Duan Yongping practices.

First, fish where you can make money. Chinese stocks have been stagnant for 20 years, but U.S. stocks continue to rise. Choosing the right direction is more important than effort.

Second, select stocks in one year and hold them for ten years. Buffett also says, “If you can’t hold a stock for ten years, don’t hold it for even one second.” Duan Yongping’s investment in Apple exemplifies this philosophy.

Third, buying stocks is buying companies. If the products are excellent, the business model is good, and the founders have vision, there’s no need to fear short-term stock price fluctuations.

Fourth, investment requires conviction. Duan Yongping has two accounts—one for value investing with long-term holdings, and another for speculation—but the profits from these were ultimately small.

Fifth, there are no shortcuts in investing. Continuing to speculate results in a 55-45 chance, no better than flipping a coin.

Sixth, reduce your investment decisions. Making 20 judgments a year will inevitably lead to mistakes. Ten decisions in a lifetime are enough.

Seventh, if you’re not making money, review your strategy. Continuously improving speculative techniques won’t lead to real wealth.

Eighth, buy when no one is paying attention, and sell when there’s hype. It’s famous that when Duan Yongping bought NetEase, he said, “What courage does it take to buy something worth 10 yuan that’s being sold for 1 yuan?”

Ninth, A-shares are not gambling. True profits come from value investors. Duan Yongping’s holding of Moutai for over a decade is proof of this.

Tenth, human nature cannot be changed. The reason Duan Yongping dines with Buffett is because both are practitioners of value investing. If you are a speculator, this philosophy won’t change. But if you agree with value investing, you too can become such a person.

Through Duan Yongping’s investment life, what becomes clear is the importance of choosing the right direction, maintaining a long-term perspective, and unwavering conviction. The ability to see through market noise and identify intrinsic value is what leads to true investment success.