I finished reading over 400,000 words of "The Great Way: The Investment Q&A of Duan Yongping" in the last 7 days and gained a lot.

This book summarizes the core viewpoints of a billionaire entrepreneur—from his blog posts during the NetEase era to his later shares on Xueqiu and various occasions. Mr. Duan never holds back, speaking frankly, and many of his assertions are indeed incisive.

The core logic can be summed up in two words: "do the right thing, do things right." It sounds simple, but very few truly understand this statement.

The first half of the sentence talks about strategic direction - choosing the track, choosing opponents, and choosing partners, which determines your ceiling. The second half discusses execution - the same task can be done finely by some and roughly by others, resulting in drastically different outcomes.

The book contains many sharp comments that hit the pain points of many investors. In particular, the views on market bubbles, company valuations, and long-term value are enlightening to read. For those who want to understand investment logic and enhance their cognition, this book is worth chewing over repeatedly.