侃股：中长期持股是翻倍的基础

Core Viewpoint - The A-share market is approaching the one-year anniversary of the "924 market," with over a thousand stocks doubling in value within the past year, highlighting the importance of long-term holding for achieving significant returns [1][2]. Group 1: Investment Strategy - Achieving a doubling of investment returns requires patience and confidence in holding stocks for the long term, rather than being swayed by short-term market fluctuations [1][2]. - Value investing is characterized by buying stocks when their price is below their intrinsic value and selling when the price is significantly above it, regardless of short-term profit or loss [1][2]. - Investors should focus on the relationship between a company's intrinsic value and its stock price, continuing to hold as long as the intrinsic value exceeds the stock price [1]. Group 2: Challenges for Investors - Many small and medium investors find it challenging to maintain long-term holdings due to the rapid rotation of market sectors and the temptation of emerging hot stocks [2]. - The lack of confidence in their holdings often leads investors to frequently switch stocks, resulting in losses from chasing trends, even in a bull market [2]. - Confidence in long-term holdings stems from thorough research and understanding of the investment targets, which allows investors to adhere to their value investment models [2]. Group 3: Philosophical Perspective - The essence of value investing is encapsulated in the idea that patience and a long-term perspective can lead to substantial returns, as illustrated by the experiences of successful investors during the "924 market" [2][3].