凌鹏：天下不可智取

Group 1 - The article emphasizes the importance of having "absolute strength" in investment strategies, suggesting that success relies more on strength than on clever tactics [2][3] - It discusses the concept of "safety margin" as a critical factor in investment, allowing for uncertainties without jeopardizing the overall investment strategy [3][4] - The article critiques the tendency to overlook investments with significant safety margins, indicating that true professionalism lies in making simple, beneficial choices rather than seeking complex, high-risk opportunities [4] Group 2 - The author draws parallels between military strategy and investment, highlighting that effective planning and understanding of strengths and weaknesses are essential for success [1][2] - It references historical figures like Zhuge Liang and Sima Yi to illustrate the difference between tactical brilliance and the importance of having a solid foundation of strength [2] - The article mentions the misconception that high-risk, high-reward investments are more impressive, while advocating for a focus on reliable, lower-risk options that provide substantial safety margins [3][4]