15 key insights about investment from Duan Yongping's interview:
1. Cheap things can become cheaper.
2. Staying rational is a very difficult thing to do.
3. If you really know how to invest, you don't need any advice; you just need to buy the companies you think are good and hold on to them.
4. What people care about is what we have done; in fact, a big reason we have become who we are is because of the things we don’t do.
5. Investment is very interesting; not understanding it doesn’t mean you can’t make money.
6. For a stock, if you can't handle a 50% drop, you shouldn't buy it.
7. In the era of AI investment, if you think you can make money by looking at charts and lines, you are just a complete novice.
8. The probability of making mistakes is actually similar for everyone; it’s just that some people won’t make the same mistake repeatedly.
9. Buffett's margin of safety doesn’t mean cheap; margin of safety refers to how well you understand the company.
10. The phrase 'buying stocks is buying companies' is understood by only about 1% of people, and actually doing it is even harder.
11. Why is investment said to be simple but not easy? Simple means you must look at the company, understand the business, and also comprehend future cash flows; the difficulty lies in that it's very hard to do this, as most companies are not easy to understand.
12. Making money from trading stocks is very difficult; most retail investors lose money in both bull and bear markets, about 80%, so don’t think you are that special person.
13. Coming from a business background makes it relatively easy to understand others' businesses, but I still can’t understand too many businesses.
14. Why have you been able to hold on for so long and made so much money but still don’t sell? The issue is that the money isn’t that much.
15. Is copying homework a sustainable investment method? It’s difficult because by copying homework, you are lagging behind.
Strive to be a good holder of BTC, ETH, and BNB, and have faith in the future of the crypto world.
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