It is always said that value investment should be held for a long time. Of course, it is also said now that value investment does not mean long-term holding, but also selling. But let's take a look at Buffett's success stories. From Coca-Cola, American Express and Washington Post, they all gained huge profits through long-term holding. Of course, some people are saying that Buffett has not made any money from Coca-Cola in recent years. As I said, the logic of long-term performance growth and stock price will not be developed here, but I have it on WeChat official account.

I said we are awesome people in China. The two grandfathers, with low education level, can't say much, but the multiple of long-term shareholding, but not losing Buffett, and killing many domestic fund managers.

I hope you don't talk about survivor bias. There is a classic saying in Duan Yongping. You can say that I am lucky to buy a dollar of Netease, but it is not luck to get 1 yuan. We can grasp it for a long time and get excess returns, which is worth learning with an open mind.

1. Uncle Dragon in Tianjin

I don't know if you have seen the Investor Talk held by CCTV the year before last. One of my favorite investors, Uncle Dragon in Tianjin, a laid-off worker, has held Midea for 2 years, and now the cost is almost 1 yuan. According to the beautiful price during this period, he has earned almost 9 times.

He has been able to hold it for so many years. From his words, it is found that Midea's stock is a "good stock" and it is also the tough logic of the stock price, so he has been holding it. In fact, the stocks of major blue-chip companies are all this feature. When they rise, they are no worse than others, and when they fall, they fall less.

while he studies stocks, he basically doesn't read books, he just watches financial programs, and he usually studies beauty, that is, he looks at the research reports of securities firms, because he thinks they are quite accurate, "eps per share is not much different every year, so I don't need to study it."

It's very simple. The program is still there. You can watch it.

2. Uncle Beijing's Invisible Rich

This is reported by CCTV. I also met an awesome man, an invisible wealth tycoon recommended by Beijing fans, who has invested in LU ZHOU LAO JIAO CO.,LTD for a long time. Older people don't surf the Internet, let alone use snowballs.

Brother's education level is not high, but he made some money because he went to the sea earlier, and bought a lot of LU ZHOU LAO JIAO CO.,LTD stocks in the late 199s. He didn't study stocks so deeply and didn't read the financial indicators so carefully. He said several times, "I don't read the statements, they are all fake, and it's useless to read them."

He bought LU ZHOU LAO JIAO CO.,LTD because he thought it was real. As a Beijinger, he didn't like to drink Erguotou and Fenjiu, but he liked to drink Laojiao. Especially after it was listed in 1573, he found that Guojiao was also commonly used among his business friends, so he preferred Laojiao. I asked him why he had been staring at the old cellar for years and not at other stocks.

He said, "It's too difficult to do it by yourself after doing business for a long time. It's much easier for a state-owned enterprise like Laojiao to make money than him."

"Buying other stocks means buying a number. I don't understand. LU ZHOU LAO JIAO CO.,LTD bought it. I can feel it at ordinary times. I actually bought a good thing. Don't worry."

from the end of 199s to now, he only increased his position, but basically did not reduce his position. He used the dividend just like me, except that I spent it, and he used it for business. Brother's old cellar has a market value of several hundred million. Because we have no interest relationship, we just chatted with friends and showed me one of the accounts, which was really shocking!

long-term holding is easier said than done. Because if the performance can not maintain long-term steady growth, the stock price will not continue to rise for a long time, and Coca-Cola is a typical example. You can say that when they bought stocks, they were lucky enough to win these stocks whose performance could grow for a long time, but they were able to hold on to such big ups and downs today, such as 28 and 215, and it was several times. This is definitely not a fluke.

today, should we also ask, if we really want to punch in with double thousand, or continue to hold it after punching in with double thousand, what is the long-term logic that supports us, and whether we can withstand the big wind and waves by relying on these logics?