Group 1 - The core viewpoint emphasizes the importance of long-term holding in achieving significant investment returns, as evidenced by over a thousand stocks doubling in value over the past year [1][2] - Many investors struggle with maintaining patience and confidence in their holdings, often succumbing to short-term market fluctuations and failing to realize the potential for long-term gains [1][2] - Value investing is defined not by immediate profit or loss but by the relationship between a company's intrinsic value and its stock price, advocating for holding stocks as long as their intrinsic value exceeds their market price [1][2] Group 2 - The current market environment features rapid sector rotations, which challenge investors' patience and commitment to long-term holdings [2] - Confidence in investment choices is crucial for maintaining long-term positions, as many investors frequently switch stocks due to a lack of confidence, leading to detrimental chasing of market trends [2] - Successful investors who achieved doubling returns over the past year exemplify the principle of patience in a volatile market, adhering to a fundamental investment philosophy [2][3]

Core Viewpoint - The A-share market is approaching the one-year anniversary of the "924 market," with over a thousand stocks doubling in value within the past year, highlighting the importance of long-term holding for achieving significant returns [1][2]. Group 1: Investment Strategy - Achieving a doubling of investment returns requires patience and confidence in holding stocks for the long term, rather than being swayed by short-term market fluctuations [1][2]. - Value investing is characterized by buying stocks when their price is below their intrinsic value and selling when the price is significantly above it, regardless of short-term profit or loss [1][2]. - Investors should focus on the relationship between a company's intrinsic value and its stock price, continuing to hold as long as the intrinsic value exceeds the stock price [1]. Group 2: Challenges for Investors - Many small and medium investors find it challenging to maintain long-term holdings due to the rapid rotation of market sectors and the temptation of emerging hot stocks [2]. - The lack of confidence in their holdings often leads investors to frequently switch stocks, resulting in losses from chasing trends, even in a bull market [2]. - Confidence in long-term holdings stems from thorough research and understanding of the investment targets, which allows investors to adhere to their value investment models [2]. Group 3: Philosophical Perspective - The essence of value investing is encapsulated in the idea that patience and a long-term perspective can lead to substantial returns, as illustrated by the experiences of successful investors during the "924 market" [2][3].