Value Investing Is the Way

Across 200 chapters, The Way of Value Investing traces the decade-long transformation of retail investor Ying Lan, from chasing rising prices and selling in a panic to developing the theory of "value investing through gradual cost reduction." The story begins with the sage advice of stock-market veterans in a teahouse and the sobering profit-and-loss figures of retail investors. After devastating losses in real trades and a crisis of understanding, Ying Lan breaks free from the old dogma of simply holding stocks for the long term. He incorporates swing trading to lower costs into value investing, devising a "dynamic cost-reduction" strategy: rationally buying more as prices fall to reduce the average cost, then locking in profits as prices rise. This resolves the dilemma between "lying flat for the long term" and "trading too frequently."

The story unfolds amid the market's trials: black swan events, policy shocks, and skeptical clients. Ying Lan refines his system through each crisis and turns inward to ask: Is investing about making money from the market, or is it a path to cultivating the mind? In the end, he evolves from an "innovative strategist" into someone awakened to life, offering the ultimate answer: "The Way of Value Investing: slow is fast."

The book explains philosophy in plain language and dispels misconceptions through stories. It portrays the real lives of retail investors while offering a vivid example of how value investing can take root in China. From personal growth to the passing on of ideas, from market battles to a profound understanding of life, this is not only an investment guide, but also an epic about ordinary people making peace with the market and dancing with wealth.