Core Insights - The success or failure of investments primarily depends on the accurate judgment of profitability, which is rooted in the depth of understanding [1] - Reading is emphasized as a crucial tool for enhancing cognitive abilities and recognizing investment value over a longer time horizon [1] Summary by Sections Investment Philosophy - Howard Marks and Charlie Munger highlight the importance of aligning cognition with value to achieve desired outcomes in investments [1] - The article suggests that understanding historical perspectives and engaging with timeless knowledge can help investors break free from contemporary limitations [1] Recommended Reading - Chen Wei, Chairman of Dongfang Fuhai, recommends "A Brief History of Artificial Intelligence" by Nick, emphasizing its relevance in understanding the ongoing technological revolution and its implications for investment strategies [4] - The book is noted for its engaging narrative and clear structure, making it a valuable resource for investors to comprehend the evolution of the AI industry and its impact on traditional sectors [4]

Core Insights - The article emphasizes the importance of deep cognitive understanding in investment success, as highlighted by Howard Marks and Charlie Munger, suggesting that reading is a crucial tool for enhancing this understanding [1] Group 1: Investment Perspective - The chairman of Dongfang Fuhai, Chen Wei, recommends "A Brief History of Artificial Intelligence" by Nick, stating that we are experiencing a significant technological revolution with AI as an extension of human intellect [2] - Chen Wei suggests that both the AI industry and traditional industries empowered by AI are worthy of systematic investment and a fresh perspective [2] Group 2: Reading as a Tool - The article underscores that successful individuals across various industries share a common trait of being avid readers, which aids in observing long-term trends and recognizing investment value [1] - The initiative by Dongfang Fuhai to share recommended readings aims to help investors enhance their cognitive frameworks and identify enduring changes in the investment landscape [1]