Yesterday, Buffett retired and published his last letter to shareholders. Today, the entire internet is discussing the conversation between Duan Yongping and Fang Sanwen about investment and life.

Essentially, both Duan Yongping and Buffett are talking about the same thing—

"Less is more." "Slow is fast."

Despite their different backgrounds, both big shots emphasize the same underlying logic: do subtraction, maintain goodwill, and accumulate patience.

Back when Buffett was not famous, Wall Street and the elite from Yale and Harvard looked down on him, thinking he "lacked a proper financial education," was somewhat unsophisticated, only bought Coca-Cola, and had no understanding of the internet. But the old man didn’t care; adhering to the principle of not investing in what he didn’t understand, he only bought Coca-Cola!

It’s easy to say but hard to do: when almost everyone in the market is making big money, to restrain oneself and not buy. Anyone who has played the market knows this is absolutely counterintuitive. I ask those present, who can do it?

Duan Yongping said, "A stop doing list is more important than a to-do list." Essentially, it’s the same logic: if you don’t understand it, don’t invest; if you can’t see through it, don’t act. It’s better to underperform for a few cyclical phases than to miss out on opportunities; the market has never lacked opportunities, only our patience!

Duan Yongping relies on "waiting," waiting for the market to make mistakes; Fang Sanwen relies on "endurance," resisting short-term temptations; while Buffett relies on "faith," believing in long-term compounding and the warmth of human nature.

The sentence that moved me the most in this letter is—

"Keep in mind that the cleaning lady is as much a human being as the Chairman."

When the tide goes out, what remains is clarity, restraint, and goodwill. Wealth, status, and wisdom will ultimately fade, leaving behind the depth of "being human."

So, whether in investment, entrepreneurship, or life, what we truly need is not more skills, but less self-deception.

Take it slow, because important matters are never fast.

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