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理性是思考的结果，而非性格",[501,605,606,607,610,611,613],{},"段永平区分了理性和",[510,608,146],{"href":609},"\u002Fnaixin","：理性是思考的结果，可以通过后天养成；而",[510,612,146],{"href":609},"更像是性格。",[522,615,616],{},[501,617,618,619,621,622,624],{},"大道其实也很没",[510,620,146],{"href":609},"，也很想赚快钱。理性应该是思考的结果，",[510,623,146],{"href":609},"感觉像是个性或者叫性格。\n——大道投资问答录",[522,626,627],{},[501,628,629,631],{},[510,630,11],{"href":512},"其实就是理性思考的习惯，应该是后天养成的。\n——2019-04-22",[536,633,635],{"id":634},"_4-理性是决策的基础","4. 理性是决策的基础",[501,637,638],{},"段永平强调，着急时尽量不要决策，决策要建立在理性的基础上。",[522,640,641],{},[501,642,643],{},"我会着急，但是，着急时尽量不要决策。决策要建立在理性的基础上。\n——大道投资问答录",[497,645,646],{"id":646},"实战案例",[536,648,650],{"id":649},"步步高央视广告投放理性而非冒险","步步高央视广告投放：理性而非冒险",[501,652,653,654,657],{},"1996年",[505,655,656],{},"步步高","在央视投入8200多万广告费，被外界视为\"倾家荡产的一搏\"。但段永平认为这完全是理性决策：\"我们做自己懂的东西，为什么你说是冒险呢？用一块钱去买两块钱的东西不叫冒险，叫理性，只要记得不用margin就行。\"",[536,659,661],{"id":660},"投资网易苹果理性的独立思考","投资网易、苹果：理性的独立思考",[501,663,664,665,668,669,672],{},"段永平在",[505,666,667],{},"网易","股价极低时买入，在",[505,670,671],{},"苹果","被市场低估时重仓。这些决策不是跟风也不是逆向，而是基于对企业的理性理解。他说：\"最重要的是理性的独立思考能力。\"",[536,674,676],{"id":675},"步步高和oppo进入新市场的理性判断","步步高和OPPO进入新市场的理性判断",[501,678,679,680,682,683,686,687,682,690,693],{},"有人评价",[505,681,656],{},"和",[505,684,685],{},"OPPO","对进入新市场有\"相当严谨而且理性的判断\"。段永平的方法是看这个市场是否符合",[510,688,109],{"href":689},"\u002Fchayihua",[510,691,35],{"href":692},"\u002Fxiaofeizhedaoxiang","，而非盲目追逐热点。",[536,695,697],{"id":696},"不投机不用杠杆","不投机、不用杠杆",[501,699,700,701,704,705,707],{},"段永平始终坚持不用margin（杠杆），这是理性的体现。他说：\"",[510,702,92],{"href":703},"\u002Ftouji","却需要很大的勇气\"，而\"",[510,706,39],{"href":574},"不需要勇气，需要的是对投资标的的了解\"——理性取代了勇气。",[497,709,710],{"id":710},"常见误解",[536,712,714],{"id":713},"误解一理性就是冷酷无情","误解一：理性就是冷酷无情",[501,716,717],{},"段永平指出\"生活中有很多感性的东西，不能啥都要理性的。不过，投资和经营企业需要很多理性。\"理性是在关键决策中使用的思维工具，不是生活的全部。",[536,719,721],{"id":720},"误解二理性是天生的","误解二：理性是天生的",[501,723,724,725,727],{},"段永平认为理性是后天养成的习惯：\"",[510,726,11],{"href":512},"其实就是理性思考的习惯，应该是后天养成的。\"他还推测自己能比较理性，\"很可能跟我爸妈从小就不打骂我有很大关系，心里没有很多人有的那种恐惧感。\"",[536,729,731],{"id":730},"误解三理性就是不着急","误解三：理性就是不着急",[501,733,734],{},"段永平承认自己也会着急，\"也很想赚快钱\"。理性不是没有情绪，而是在有情绪的时候不做决策——\"着急时尽量不要决策。决策要建立在理性的基础上。\"",[497,736,737],{"id":737},"思想演变",[536,739,741],{"id":740},"_2000年代隐含在平常心概念中","2000年代：隐含在\"平常心\"概念中",[501,743,744,745,747,748,751,752,754],{},"2000年《经营者》杂志记者描述段永平\"充满智慧\"和\"理性思维\"。2003年北京大学演讲中，段永平说\"",[510,746,11],{"href":512},"跟",[510,749,5],{"href":750},"\u002Fbenfen","也有点相像，就是做事情要比较理性\"。此时理性还是",[510,753,11],{"href":512},"的一个注脚。",[536,756,758],{"id":757},"_2010年代与芒格的rationality对接","2010年代：与芒格的\"rationality\"对接",[501,760,761,762,764,765,767,768,770],{},"2010年代，段永平发现",[505,763,516],{},"所强调的\"rationality\"与自己讲的\"",[510,766,11],{"href":512},"\"高度一致，开始频繁引用",[505,769,516],{},"的话来阐释理性。理性从一个附属概念上升为独立的核心概念。",[536,772,774],{"id":773},"_2020年代成为思想体系的底层逻辑","2020年代：成为思想体系的底层逻辑",[501,776,777,778,781,782,784,785,787,788,682,791,794,795,797,798,797,800,797,802,804],{},"2025年与",[505,779,780],{},"王石","对话中，段永平给出了最完整的逻辑链条：\"",[510,783,11],{"href":512},"不是心态，而是理性；理性不是克制，而是想长远；想长远，就是",[510,786,170],{"href":548},"。\"同年他总结：\"道就是'",[510,789,15],{"href":790},"\u002Fzuoduideshiqing",[510,792,19],{"href":793},"\u002Fbashiqingzuodui","'，就是理性想长远、想本质。\"理性从此成为贯穿",[510,796,5],{"href":750},"、",[510,799,11],{"href":512},[510,801,170],{"href":548},[510,803,15],{"href":790},"等所有概念的底层逻辑。",[497,806,807],{"id":807},"原话引用",[522,809,810],{},[501,811,812,528,814,531],{},[505,813,516],{},[510,815,11],{"href":512},[522,817,818],{},[501,819,820,567],{},[510,821,11],{"href":512},[522,823,824],{},[501,825,557,826,560],{},[510,827,11],{"href":512},[522,829,830],{},[501,831,832,833,682,835,837],{},"道就是\"",[510,834,15],{"href":790},[510,836,19],{"href":793},"\"，就是理性想长远、想本质。\n——2025-07-24",[522,839,840],{},[501,841,842],{},"秘诀就是理性想长远想本质的思维习惯。\n——2025-08-15",[522,844,845],{},[501,846,847,631],{},[510,848,11],{"href":512},[522,850,851],{},[501,852,853,854,624],{},"理性应该是思考的结果，",[510,855,146],{"href":609},[522,857,858],{},[501,859,860,599],{},[510,861,39],{"href":574},[522,863,864],{},[501,865,866,867,869],{},"总之，崇拜任何人都是不对的，最重要的是",[505,868,516],{},"讲的那个\"理性\"。\n——2012-01-09",[522,871,872],{},[501,873,874],{},"生活中有很多感性的东西，不能啥都要理性的。不过，投资和经营企业需要很多理性。\n——2019-09-25",{"title":876,"searchDepth":13,"depth":13,"links":877},"",[878,879,887,893,898,903],{"id":499,"depth":13,"text":499},{"id":534,"depth":13,"text":534,"children":880},[881,883,885,886],{"id":538,"depth":17,"text":882},"1. 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