Yesterday, Duan Yongping's speech at Zhejiang University attracted widespread attention in the circle, and many investment experts were sharing some of his brilliant points. As the founder of BBK Electronics and Subor, Duan Yongping has made significant achievements in the investment world, having bought the dip on NetEase for a hundredfold return and heavily invested in Apple and Moutai for dozens of times return. Not only has he achieved remarkable results himself, but he has also been keen on sharing investment insights, from which many have benefited greatly. Therefore, he is also known as 'China's Buffett.'
This time in 2025, he returned to his alma mater to give a speech. Although he did not directly mention Bitcoin, his investment philosophy and mindset can provide profound insights for each of us investors. Today, I will distill several core points from his speech and share them with you in conjunction with my own experiences. If you are interested, you can look for the full video yourself.
1. Don't FOMO: Stay calm and invest rationally.
FOMO (Fear of Missing Out) is a common mentality among retail investors. Duan Yongping mentioned in his speech that investment masters like Buffett and Munger never rush to make decisions out of fear of missing out; their principle is: do not fear missing out, but absolutely avoid stepping on landmines. I particularly resonate with this point. In my investment experience, many failed decisions were due to impatience, especially during overheated markets. The most important thing in investment is not making money but preserving strength. Once rational judgment is missed due to FOMO, one may lose the opportunity to turn things around.
I can send everyone a message: Money can be earned endlessly, but money can be lost completely.
2. A good track always has good returns: Choose fields with long-term value.
Duan Yongping mentioned, 'A good track will never enter a low-margin state.' This view is equally applicable to the cryptocurrency market. Many newcomers to the crypto sphere might think that cryptocurrencies like Bitcoin are merely products of 'hype,' but upon careful consideration, Bitcoin is not just a virtual currency; it has driven the mining industry, smart contracts, cross-border payments, and several markets worth billions, all of which have tangible business value.
Just like the booming memecoins and AI agents in this bull market, which showed huge profit effects from the very beginning, not only did the coins themselves skyrocket, but many lucrative opportunities also emerged around these concepts. In investment, choosing a good track often continuously brings new market demands and business opportunities; this is the manifestation of a 'good track.'
3. The premise of taking on high risk is knowing high returns: High returns do not equal uncertainty.
Finally, Duan Yongping mentioned that the premise of taking on high risk is knowing about high returns. This is a very crucial point; the reason many people incur losses is that they do not understand what true high returns are. We know that Bitcoin, as the leader in digital currencies, has almost guaranteed high returns during a bull market. It not only has historical validation but also future potential. However, many FOMO-driven coins in the market, although they may surge in the short term, have uncertain returns and are fraught with risk.
Some people may feel that Bitcoin has already risen very high; is there no coin that can multiply tenfold tomorrow? But I must say that such coins do not exist. Looking at Bitcoin over a decade, isn't it a certain hundredfold coin? As Buffett said: 'No one can stand to make money slowly.' This is also why many people always want to chase quick profits in the short term, neglecting the importance of long-term stable returns.
These are several investment philosophies from Duan Yongping's speech. Although he did not directly mention Bitcoin, many of his thoughts and suggestions can help us remain calm and make rational decisions in the market, avoiding blind following. On the future investment path, whether in the cryptocurrency market or other fields, maintaining rationality, focusing on good tracks, and understanding the connotation of high returns are essential for truly achieving sustainable gains.