段永平的采访，值得每个普通人看3遍

Group 1 - The article discusses two significant events in the investment world: an interview with Duan Yongping and Warren Buffett's retirement announcement [2][3] - Duan Yongping emphasizes the importance of accepting one's limitations and the value of being an ordinary person, which can lead to happiness [4][6] - A key takeaway from Duan Yongping's interview is the idea that admitting ignorance in investment can prevent significant losses, as many investors often pretend to understand complex topics [7][10] Group 2 - Duan Yongping's investment philosophy includes recognizing when to cut losses quickly, as demonstrated by his past experience of losing over $10 million on a $100 million investment [13][14] - He advocates for a mindset of correcting mistakes promptly and sticking to sound investments, which is crucial for ordinary investors to understand [16][19] - The concept of opportunity cost is highlighted, with Duan Yongping explaining that decisions should be based on potential returns from alternative investments [20][22] Group 3 - Long-term holding does not mean one should never sell; if a better investment opportunity arises, it is wise to make the switch [32][34] - The decision to invest should be based on future cash flows rather than just price-to-earnings ratios, emphasizing the need for understanding the underlying business [36] Group 4 - Duan Yongping shares insights on parenting, stating that parents should focus on providing security for their children, which influences their future success [39][41] - The article discusses the psychological aspects of investing, noting that a lack of security can lead to irrational decisions in the stock market [43][45] Group 5 - The article concludes with a reflection on the current economic landscape, suggesting that there are new turning points in the market that require careful consideration and preparation for future investments [64][65]