A couple of days ago, Duan Yongping shared a screenshot on Xueqiu of one (not all) of the U.S. stock accounts he manages, showing 133,500 shares of Apple. Out of those, 131,112 shares were purchased on 2011/11/18 at a cost of $13.75 per share, with a return rate of 1,881.8%. This purchase hasn’t been touched for 14 years and has brought in $33.92 million in profit. November 2011 was actually a very unique time. Just a month earlier, on October 5, 2011, spiritual leader Steve Jobs had passed away, and the market was deeply worried: “Can Apple still innovate without Jobs?” Plus, Tim Cook was widely seen by the public as someone who was “only good at managing the supply chain,” rather than a product genius like Jobs. This is the epitome of value investing. In 2022, when Apple’s stock price dropped and the market questioned iPhone sales, he added a small position. Duan Yongping also said, “In the new year, I need to seriously learn how to use AI. Hopefully, I can understand AI well enough to make bold bets on it. The more I use it, the more fascinating it feels—it’s like the world is a little different now. It’s hard to imagine what the world will look like in 10 years, but it’s very likely the changes will be even bigger than the past 10, 20, or even 40 years.”