Yang Delong talks about Buffett's value investing: we must add a Chinese characteristic in the Chinese market.

Yang Delong, Chief Economist of Qianhai Kaiyuan Fund, stated at the 2025 Buffett Shareholders Meeting and the Sino-US Investors' Cocktail Party that many people are beginning to question whether value investing, like Buffett's, is suitable for A-shares. We know that when introducing something to China, there must be a Chinese characteristic added, otherwise it may be difficult to fully adapt. I also mentioned that Buffett's best investment is not what everyone understands as long-term holding. In fact, the stocks he holds long-term are very limited, and he sells most of them after a short time. Some people say that adding investment is for long-term holding, but in fact, I think it is a result, not that you hold for the long term just for the sake of holding. It is necessary to follow the policies and avoid those suppressed by the policies.