Security Enables Rationality | Generated by AI
Question: How to understand Duan Yongping’s quote: “People without a secure heart can’t be rational”?
Answer:
Duan Yongping (段永平), the renowned Chinese entrepreneur and investor (founder of BBK Electronics, investor in companies like Apple, Tencent, and Moutai), has frequently emphasized the importance of sense of security (安全感) in both child-rearing and decision-making.
The quote—”people without a secure heart can’t be rational” (or more accurately translated as “without a sense of security, it’s hard for people to be rational” / “没有安全感的人很难理性”)—means that emotional insecurity triggers fear, anxiety, or survival instincts, which override logical thinking and lead to irrational behavior.
Key aspects of this idea:
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In child education: Duan believes parents’ primary role is to build a strong sense of security in children through trust, clear boundaries, and avoiding actions that diminish security (e.g., scolding, hitting, or excessive pressure). A secure child develops the ability to think rationally, make independent decisions, and handle failure calmly. In contrast, insecure children may become overly reactive, fearful, or unable to judge situations objectively.
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In investing and life decisions: Rationality is difficult to maintain under pressure. For example, Duan attributes part of his success in holding investments (like NetEase during sharp declines) to using only “idle money” that didn’t threaten his financial security. When stakes feel existential (due to lack of security), fear dominates, leading to panic selling or poor choices. True rationality requires a foundation of security to stay calm and think long-term.
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Personal reflection: Duan credits his own rational habits to the security provided by his parents, who gave him freedom to make decisions without heavy demands or punishment.
In essence, security acts as the emotional “safety margin” that enables clear, rational thinking—much like the “margin of safety” in value investing protects against errors.
References:
- 段永平 2025 万字访谈录：投资、经营与人生的“本分”哲学 - 知乎
- 段永平谈教育：父母做的一切，就是为了给孩子增加安全感 - 东方财富网
- 段永平最新专访全文｜谈投资、企业与人生选择：真正的价值藏在“不变”里 - 腾讯新闻
- Duan Yongping gives a rare public interview: “Without a sense of security, it’s hard to be rational” - Bitget News
- 段永平最新访谈：聊巴菲特、苹果、茅台、拼多多、特斯拉 - 观察者网