Duan Yongping interview

2 hours full version

In the interview, Duan Yongping expressed his views on various aspects including investment, corporate culture, corporate management, the company, and children's education.

19 Selected:

About Investment
1. If you really know how to invest, you don't need any advice; just buy the companies you think are good and hold on to them.

2. What people care about is what we have done, but the reason we are who we are is largely because of the things we do not do.

3. If you can't withstand a 50% drop in a stock, you shouldn't buy it.

4. The saying "Buying stocks means buying a company" is impressive if even 1% of people truly understand it, and achieving that is even harder.

5. Stock trading is very difficult to make money in; most retail investors lose money in both bull and bear markets, about 80%, so don't think of yourself as the special one.

6. Why have you been able to hold on for so long and earn so much money without selling? The problem is that that money is not much.

About Corporate Culture
7. Corporate culture is closely related to the founder; you find those who resonate with you and those who identify with your culture.

8. Doing the right thing and doing things right

About Enterprise Management
9. Steve Jobs told Tim Cook, as CEO you make the decisions, don’t think about what I, Steve Jobs, would do; that's the right approach.

10. I don’t think age has to be a barrier. Buffett is over 90 years old, and he’s doing quite well. He just enjoys doing this, so he keeps on doing it.

About children's education and growth
11. I don't ask my child to do things that I think I can't do myself.

12. The most important thing learned in university is the method of learning, how to learn, and building confidence that when encountering things you don't understand, you can learn them.

Understanding of a company
13. I usually tell everyone that I only have three stocks: Apple, Tencent, and Moutai, and it's pretty much true.

14. When Apple finds that its products cannot provide enough value to users, they will not pursue them; they will not do it for the sake of business, and that is part of their culture.

15. I think Apple's corporate culture is very good. They really care about doing things well and are very concerned about user experience.

16. I watched many videos of Jensen Huang, and I really admire him. What he talked about more than a decade ago is the same as what he talks about today. He saw it long ago and has been working in that direction.

17. I think we should at least get involved with AI a bit, so as not to completely miss out on it; it seems a bit inappropriate to completely miss it.

18. The electric vehicle business won't be very good, it will be very tiring, and its differentiation is very small.

19. There are two types of baijiu, Moutai and others.