投资是一场马拉松，长期主义才能制胜

Core Viewpoint - The article emphasizes the importance of long-term investment strategies and the necessity of patience in waiting for the right opportunities and value realization in the stock market [2][3]. Group 1: Investment Philosophy - Investment is likened to a marathon, where long-termism is essential to outperform the market [2]. - Investors should focus on waiting for high-quality companies to reach a "good price," which is defined as a price below their intrinsic value [3]. - The difficulty of waiting for value realization is highlighted, as many investors tend to exit too early when a stock begins to rise [3]. Group 2: Practical Investment Strategies - Investors should assess the intrinsic value of companies before making purchases, using the example of Moutai to illustrate the need for careful evaluation of price versus value [3]. - The article suggests that successful investors are those who can endure the waiting period for both good prices and subsequent value appreciation [3]. - The ability to wait is presented as a test of an investor's understanding and temperament regarding their investments [3].