Core Viewpoint - "Thinking" is a core capability required for value investing, representing the need to dialectically view value investment as both simple and complex, requiring adherence to basic common sense while also evolving with the times [1][11]. Group 1: Value Investing in A-Share Market - The A-share market is suitable for value investing due to a stable economic growth and the presence of many excellent entrepreneurs and companies [2]. - Since 2021, many well-known companies have seen stock price declines exceeding 70%, leading to skepticism about the effectiveness of value investing in China [2][3]. - The decline of core assets since 2021 is attributed to the return of value principles rather than the failure of value investing [2][3]. Group 2: Misunderstandings of Value Investing - Many individuals misunderstand value investing as merely buying good companies and avoiding poor stocks, which oversimplifies its essence [3]. - The performance of traditional stocks like coal, banks, and utilities has surged since 2021, indicating that the market's previous neglect of these stocks was misguided [3]. Group 3: Challenges of Value Investing - Value investing is effective and replicable, but only about 1% of investors truly practice it due to its frequent inefficacy and the long periods of underperformance [4][5]. - The nature of value investing often requires contrarian decision-making, which is challenging due to human psychological weaknesses [4]. Group 4: Book Overview and Structure - The book aims to clarify misconceptions about value investing, providing practical insights on how to apply value investing principles effectively [11][12]. - It categorizes content into three parts: basic principles and methods of value investing, challenges and difficulties faced, and various investment opportunities [6][7][8].