基石资本张维：读400年中国史，悟内生变革动能丨大咖荐书

Core Insights - The success or failure of investments primarily hinges on the accurate judgment of profitability, which is rooted in the depth of understanding [1] - Engaging with historical perspectives and reading extensively can enhance cognitive abilities and help identify investment value [1] Summary by Sections Investment Philosophy - Howard Marks emphasizes that investment outcomes depend on the correct assessment of profitability, highlighting the importance of deep cognitive understanding [1] - Charlie Munger suggests that deserving what one desires fundamentally involves aligning cognition with value [1] Importance of Reading - In a rapidly changing world, it is crucial to extend one's understanding by engaging with historical contexts and diverse perspectives through reading [1] - Successful individuals across various industries share a common trait of being avid readers, which aids in observing long-term trends and identifying enduring changes [1] Featured Book - The book "China's Struggle: 1600-2000" by Xu Zhongyue addresses the complexities of modern Chinese history and its relevance to contemporary China [4] - Xu Zhongyue argues that modern Chinese history is characterized by proactive efforts to address internal and external challenges, rather than merely reacting to Western influences [5] - The book outlines three driving forces behind modern China's evolution: government policies, ethnic resistance to foreign influences, and the search for survival strategies in new contexts [5]