王波明：投资认知有法门，不做流星做恒星

Core Viewpoint - The article emphasizes the importance of understanding cognitive biases in investment, highlighting that many investors struggle with the disconnect between knowledge and action, which can lead to poor investment decisions [4][7]. Summary by Sections Author's Background - The author, Wang Boming, has a rich history in China's capital market, having participated in its creation since 1988 and founded the magazine "Caijing" in 1998, witnessing numerous capital stories and market fluctuations over 37 years [3][4]. Key Insights from the Book - The book "Wealth is the Realization of Cognition" systematically outlines 12 cognitive biases and 12 cognitive tools, integrating them into the four stages of investment loss, making it practical for investors to find solutions [6]. - It introduces the "Four Hearts" concept—patience, suspicion, caution, and original intention—corresponding to long-term thinking, contrarian thinking, risk thinking, and equity thinking, which simplifies the learning process for investors [6]. - The book explains the origins of cognitive biases through evolutionary psychology, illustrating how traits beneficial in primitive conditions have become mismatched in modern investment environments, leading to failures [7]. Writing Style and Reception - The book is noted for its accessible writing style, enhanced by the author's background in humanities and media, making complex ideas easier to understand [7]. - Despite lacking specific investment techniques, the book is praised for its focus on the philosophy of investment cognition, which is considered valuable for avoiding common pitfalls in investing [8]. - The book has been well-received, achieving reprints within four years of publication, indicating its popularity and recognition among readers [8].