投资笔记：科技无法改变的、选准和拿住、对成长的误解

Group 1 - The core insight is that high technology cannot change certain fundamental human experiences, such as the taste of chewing gum, which should be considered when selecting investment targets [3] - Companies that possess characteristics that remain unaffected by technological advancements are deemed important for long-term investment [3][4] - Industries related to basic human needs, such as food and health, are highlighted as areas that will always have demand regardless of technological changes [3] Group 2 - The difficulty in investing lies not only in selecting stocks but also in holding them, with many investors failing to achieve satisfactory returns due to challenges in both areas [5] - Identifying strong companies among the over 5,000 listed in the market is feasible, as many excellent companies are transparent and well-known [5] - The ability to hold stocks is more challenging and tests an investor's temperament, risk tolerance, and adherence to investment philosophy [5][6] Group 3 - There is a common misunderstanding of "growth stocks," which are often perceived as companies with short-term explosive potential or those that maintain high growth rates [7][8] - The correct definition of growth stocks, according to investment master Fisher, emphasizes long-term sustainability and strong operational efficiency rather than just short-term profit maximization [8][9] - Companies that focus on long-term health and development, rather than solely on profit, are the true growth stocks that investors should seek [9]