📖Duan Yongping
Systematic Investment Approach
A systematic approach ensures consistent investing.
A systematic approach to investing removes emotion and ensures consistency. Document your process, follow your rules, and review regularly.
🏠 Everyday Analogy
📖 Core Interpretation
Duan Yongping advocates a repeatable process: define criteria, execute consistently, and review decisions against evidence. Process quality drives outcome consistency.
💎 Key Insight：Systematic processes outperform ad hoc decisions.
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❓ Why It Matters
Without process, there is no reliable feedback loop. Structured execution and review improve decision quality over time.
🎯 How to Practice
Run a decision loop of research, thesis, execution, and post-mortem; document assumptions and update playbooks with evidence, not hindsight bias.
⚠️ Common Pitfalls
Having opinions without execution criteria
Reviewing outcomes but not decisions
Abandoning rules during volatility spikes
📚 Case Studies
1
U.S. Financial Crisis vs. NetEase (2008)
Global markets crashed and China’s economy slowed, yet NetEase’s game business remained resilient despite fears of macro-driven collapse.
✨ Outcome：Duan focused on business fundamentals, not macro forecasts, held shares, and saw substantial multi‑bagger returns as earnings grew.
2
China Slowdown Fears vs. Tencent/NetEase (2015)
Widespread concerns about China’s GDP slowdown and stock market volatility led many to predict long-term stagnation in Chinese internet companies.
✨ Outcome：Ignoring macro guesses, Duan emphasized durable competitive advantages and user growth, kept investing, and holdings appreciated strongly over subsequent years.
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