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	<title>不懂不做 &#8211; Zhang Haibo</title>
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		<title>价值投资：段永平说全世界只有一种投资</title>
		<link>https://zhanghaibo.com/value-investing/</link>
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		<dc:creator><![CDATA[海波 vincent]]></dc:creator>
		<pubDate>Sat, 06 Jun 2026 01:02:16 +0000</pubDate>
				<category><![CDATA[认知基石]]></category>
		<category><![CDATA[不懂不做]]></category>
		<category><![CDATA[价值投资]]></category>
		<category><![CDATA[段永平]]></category>
		<category><![CDATA[长期主义]]></category>
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					<description><![CDATA[价值投资是投资的唯一道路，其核心在于购买公司未来的现金流折现。买股票就是买公司，投资者应坚持不懂不做的原则，在能力圈内投资。长期持有是正确决策的结果而非目的。理解这一简单却不易的常识，分清投资与投机，是普通人做好投资的关键。]]></description>
		
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