Analysis of the Current Market Applicability of Duan Yongping's Value Investment Methodology

As a representative figure of value investment in China, Duan Yongping’s investment philosophy is derived from Buffett, with core principles including no short-selling, no leverage, concentrated investment, and focus on corporate business models[1][2][3]. The classic case of bottom-fishing NetEase in 2002, which yielded a 100-fold return, verified the long-term effectiveness of his philosophy[1][2]. 2025 market data shows: Duan Yongping’s core holding Apple (AAPL) rose by 9.34%, Guizhou Moutai (600519) fell by 6.10%, and Nvidia (NVDA), which he newly focused on, rose by 28.04% due to its high-quality business model in the AI field[0]. In the same period, the S&P 500 and Shanghai Composite Index rose by 14.76% and 15.78% respectively[0].

1. Risk Control Principles (No Short-Selling, No Leverage)
   ：Market volatility was significant in 2025, such as Nvidia’s stock price volatility reaching 119.53%[0]. This principle effectively avoided forced liquidation and unlimited loss risks, reflecting strong risk control capabilities.
2. Concentrated Investment Strategy
   ：Duan Yongping holds nearly 80% of his investment position in Apple[2][3]. Although Apple underperformed the market in 2025, long-term holdings have brought him substantial returns. The premise of concentrated investment is in-depth research on the company, which is the core requirement of Duan Yongping’s methodology.
3. Focus on Business Models
   ：Apple’s ecosystem, Moutai’s brand moat, and Nvidia’s technological advantages in the AI field are all key bases for his stock selection[0]. Despite short-term price fluctuations, the stability and competitiveness of business models remain the foundation of long-term investment value.

1. The Core of the Methodology is “Long-Termism and Risk Control”
   ：During the adjustment of Moutai’s stock price in 2025, Duan Yongping continued to buy[2], reflecting firm confidence in long-term value rather than chasing short-term market fluctuations.
2. The Effectiveness of Concentrated Investment Depends on the Ability to “Understand the Business”
   ：Duan Yongping can hold a concentrated position in Apple because of his deep understanding of its business model[3]. If ordinary investors lack in-depth research capabilities, blindly imitating concentrated investment may face higher risks.
3. Current Market Attention to “Long-Term Value and Risk Control” is Increasing
   ：With intensified market volatility in 2025, investors are gradually returning to value investment concepts, and Duan Yongping’s methodology has once again been widely discussed and recognized[3].

• Single Company Risk of Concentrated Investment
  ：If a sudden negative event occurs in the held company, concentrated investment may lead to large losses.
• Short-Term Performance Pressure
  ：In a market environment pursuing short-term returns, the short-term performance of this methodology may underperform index funds, testing investors’ patience.
• Capability Boundary of Ordinary Investors
  ：Investors lacking in-depth research capabilities may find it difficult to replicate Duan Yongping’s concentrated investment strategy.

• Safety Margin from Risk Control
  ：Against the background of intensified market volatility, the principles of “no short-selling and no leverage” provide a strong safety margin for the investment portfolio.
• Long-Term Value of High-Quality Business Models
  ：High-quality enterprises in emerging fields such as AI (e.g., Nvidia) still have long-term investment opportunities, which are in line with Duan Yongping’s stock selection logic of “focusing on business models”[0].

Duan Yongping’s value investment methodology is still applicable in the current market environment, but the following points need to be noted:

1. Need to have a long-term investment vision and avoid short-term performance anxiety;
2. Concentrated investment needs to be based on in-depth research on the company’s business model;
3. “No short-selling and no leverage” is an effective means to control extreme risks;
4. Ordinary investors need to balance the relationship between concentration and diversification according to their own capabilities.