Dan Bin: The Rose of Time is so beautiful!

Dan Bin's investment philosophy of "The Rose of Time" proposed in his book "The Rose of Time" indeed demonstrates his profound insight and unique value investment philosophy. The following analyzes its "brilliance" from three dimensions: core concepts, practical verification, and contemporary significance:

1. The Breakthrough of Core Concepts

The Poetic Expression of Long-termism

Dan Bin compares value investment to "The Rose of Time," emphasizing that the value of great companies can only bloom after being tempered by time. This metaphor blends philosophy and capital aesthetics, as stated in the book: "Investment is like a lonely turtle racing against time, and true returns require years of nurturing." Its core lies in selecting "crown jewel enterprises" that can transcend cycles, such as Kweichow Moutai and Tencent, to achieve wealth growth through the compound interest effect.

The Subversion of Traditional Technical Analysis

After experiencing the failure of technical analysis early in his career, Dan Bin turned to value investment, proposing that "technical analysis is a conscious art, while value investment is a way of life." In "The Rose of Time," he criticizes short-term speculation, stating that "frequent trading is like catching loaches in a muddy pond," while long-term holding of high-quality assets is "whale-level investment."

2. The Foresight of Practical Verification

The Benchmark Significance of Classic Cases

Investment in Kweichow Moutai: Since 2003, Dan Bin has heavily invested in Kweichow Moutai. Despite crises such as the plasticizer incident in 2012, he has held onto the stock to this day, with its market value growing from 8 billion to over 2 trillion, confirming the power of the "moat theory" and "long-term holding."

Tech Stock Allocation: After 2020, he foresightedly invested in AI industry chain companies such as NVIDIA and TSLA. Although he experienced a pullback in 2025, he adhered to his judgment of "industrial capital challenging financial capital," reflecting his keen insight into technological revolution.

The Originality of Risk Control

He proposed the "Three No Principles" (no overdraft, no financing, no borrowing), emphasizing the use of idle money for investment to avoid systemic risks. This concept protected the investment portfolio during the 2008 financial crisis and the 2025 U.S. stock market volatility.

3. The Transcendence of Contemporary Significance

Adaptation to the Chinese Capital Market

In "The Rose of Time," Dan Bin proposed that "value investment needs to be localized," arguing that the growth of Chinese companies must combine policy dividends and cultural barriers (such as the liquor industry). This view breaks the prejudice that "China is not suitable for value investment."

The Universal Value of Investment Philosophy

His philosophy blends Buffett-style value investment with Eastern wisdom. For example, the book quotes the poem "The Rose of Time" by Bei Dao to symbolize the resonance between investment and life, elevating cold, hard capital logic into a humanistic narrative. This cross-disciplinary expression makes professional theories more communicable.

Conclusion

The "brilliance" of Dan Bin's "The Rose of Time" lies in its transformation of abstract investment principles into perceptible growth narratives and its verification of the theory's correctness through cross-cycle practice. As stated in "The Rose of Time": "True investment is the exchange of time and life for wealth, and the value of great companies will eventually bloom in the long river of time." This judgment not only reshapes the cognitive framework of Chinese investors but also provides a methodology for adhering to long-termism in an era of rapid change.