Value investor Duan Yongping responded to an investor's question on September 1, stating that the way for ordinary investors to avoid buying good companies at bad prices is simple: "don't touch them."

The investor asked Duan: "How can ordinary investors avoid buying Moutai at 2600 yuan or TENCENT at 700 yuan, which are good companies but without good prices? And how do you roughly estimate whether Pop Mart is at a good price or a fair price?"

Duan replied: "The way to avoid it is simple: don't touch." He did not offer further comments on the valuation of Pop Mart.

Moutai (Kweichow Moutai, 600519) and Tencent (00700.HK) are well-known high-quality companies but with significant price fluctuations. Duan's response emphasizes the importance of price safety margin.