1. The definition of investment is to buy excellent companies within one's capability circle at a reasonable price and hold them for the long term;

2. The essence of investment is slowly becoming rich;

3. The ultimate destination of investment thinking is philosophy;

4. The issues in investment are ultimately human issues, reflecting human weaknesses;

5. Investment returns come from the sales profits of a company's front-end products, not from market fluctuations;

6. The core of investment is as unpredictable as standing on the edge of a deep abyss;

7. The best qualities in investment are patience, focus, and frugality;

8. The secret to successful investing is contrarian thinking and independent thinking;

9. The most powerful weapons in investing are long-termism and compound thinking;

10. A concrete metaphor for investment is treating it as if you have a 'person' working in an excellent company at home;

11. The best method to study and understand a company in investment is to maintain tracking;

12. The fastest path to progress in investment is learning, thinking, summarizing, and advancing;

13. The three elements of investment compounding: principal, interest rate, time;

14. The three elements of investment liquidation: gambling-style heavy positions, frequent trading, leveraging;

15. The most representative quantitative indicator in investment is the annual K-line that continuously breaks new highs.

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