personal suggestion

In real life, most things require cooperation with people, and this cooperation forces you to follow the masses most of the time, otherwise you will be considered unsocial. Investing is the complete opposite, you don't have to cater to anyone, just do what you think. The probability of this kind of cognitive profit is far greater than the most popular cognition on the market, and the cognitive behavior that is consistent with the public tends to lose a lot of money.​​​​

I personally feel that many people don't buy stocks now, and if they don't buy them now, they have no chance. Investors have only two fates, they are either quilted or empty.​​​​

The business model of iQiyi and Tencent Video is bound to fail. If the video industry continues to accumulate traffic and then attract advertisements, this business model will not work, and the entire industry will collapse. Provide free movies and TV series, attract traffic, and then charge advertising fees, this model will definitely fail.​​​​

I am successful not because I work hard, but because I do what I do best. To succeed in the future, you must do what you do best.​​​​

Those of us who invest, all have a concept of delayed gratification. The efforts we make at the moment do not immediately give us a good result. If you're a big spender and you do something to see the best results right away, I don't think your personality is right for stock investing. All successful investors are delayed gratification. Many of us want immediate results, and many have insatiable desires that need immediate gratification. This character is not suitable for investment.

Some people advise young people not to enter the stock market, but that is nonsense. I think that it is very difficult to start a business in an industry, and it is impossible to start a business without capital. There is a lot of unfair competition in the industry, and those with backgrounds, such as the second generation of officials and the second generation, have a higher starting point than ordinary people. If young people do not enter the stock market, they will lose the dividend opportunities of this era. Even if you don't do well at the beginning, you should enter the stock market early, understand the capital market, and accumulate experience. You will always enter the stock market in the future.

The stock market is one of the rare places where there is a level playing field. There is no fair competition in other fields. When you start a business, those second-generation officials and second-generation rich with family backgrounds have a higher starting point than the average person. They have family backgrounds and connections that others do not have. There are also people with ordinary family backgrounds, but they also curry favor with the powerful and rely on the power of the powerful to make money. So it's hard to say fair in most places. Only the stock market is the field of fairest competition. In this field, family background and connections are useless, and it depends entirely on personal strength.

When buying stocks, you must buy them as early as possible, and you must enter the market in a bear market. Only when you enter the market in a bear market can you make money and you can learn systematic knowledge about investing. To make money in a bull market, many people get carried away and think they are all gods. For ordinary people, only through the stock market can change their fate. But the premise is that you must act according to common sense, and must not be speculative.​​​​

A lot of people don't buy bank stocks, very stupid. Buying bank stocks is like giving you money. Bank stocks pay a lot of dividends every year, and bank stocks can be bought with closed eyes. There are a large number of bank stocks that have broken net. Are there problems with the operation of these broken bank stocks? As an investor, the most important thing is to know the truth and have independent judgment.​​​​

In my opinion, the most suitable stocks to buy at the moment are two industries. One is financial stocks, including China Ping An, Industrial Bank, and Ping An Bank. The other is traditional Chinese medicine stocks, including Yunnan Baiyao, Pien Tze Huang, and Dong E E Jiao. Financial stocks can be bought boldly, casually, or with closed eyes, because the valuation of bank stocks is too low, which is equivalent to giving money away.

If you want to change your destiny and cross the class, you must have the most basic three elements: capital, ability and opportunity. But these three do not seem to be easy to obtain​​​​

My point is very clear. In the past, many people who made money by luck will lose it by their ability, and they will definitely lose it. In the past, many people made money from buying houses. If they don’t manage well in the future, they will lose the money they make by buying houses.​​​​

A company's net profit keeps rising, and the company's stock price will rise forever without end. Estee Lauder's stock price has risen for decades, and has continued to rise for decades, as Estee Lauder's net profit has continued to increase for decades. This is also the case with Chinese listed companies Moutai and Ping An. As long as net profit grows, the stock price will keep going up.​​​​

How much money can a business make? This is the most critical. If Moutai's annual net profit is 100 billion, and at a valuation of 30 times, Moutai's market value is 3 trillion. Ejiao's annual net profit is 2 billion yuan. Given a valuation of 50 times, the market value is 100 billion yuan. In my opinion, there is no ceiling for the profit of medicine, and the profit of medicine has not fully exploded.

To invest in Chinese medicine stocks. The current Chinese medicine stocks are very similar to the 14-year-old liquor, and the valuation is very low. Why not buy it at a low valuation? I think Pien Tze Huang, Dong E E Jiao and Yunnan Baiyao can all be bought, just buy them, and start ten times in the next ten years, earn at least ten times, and have 10-20 times the return.​​​​

The worst mistake many people make when investing is looking at the moment. When I invested in Moutai, Moutai was embattled on all sides. When investing in Yunnan Baiyao, the performance of Baiyao was the worst period in history. Investing in Dong-E-Ejiao, Ejiao exploded. When investing in Huayi, Huayi was in the lowest period in history. How can investing look at the moment?

The most important thing in buying stocks is industry selection. Five years ago, if you didn't invest in the liquor industry, you couldn't make any money at all because you didn't choose the liquor industry. In the future, if you haven't selected a related industry, you will still not be able to make money. If the industry is selected, it is another 5-10 times the return.​​​​

My thinking is very clear. In the future, a large amount of my funds will be invested in the pharmaceutical industry, and two-thirds of my funds will be invested in the pharmaceutical industry.​​​​

In the pharmaceutical industry, I invested in Yunnan Baiyao. Now is the best time to invest in Baiyao, and the valuation has never been this low. The choice of industry is very critical. I think the pharmaceutical industry will be the most profitable industry in China in the future. When you're in a profitable industry, you pick 1-2 big companies and you make a lot of money. Yunnan Baiyao is not wrong.

After I bought the stock, I had no idea when I would make money. But I have experience in several bull and bear markets. I have strong psychological capital after several bull and bear cycles. Optimistic, calm, tenacious, has the patience that others do not have, and can resist various psychological misunderstandings. For me, making money comes sooner or later.​​​​

How did I get my money? Very simple, buy low, sell high, and hold at other times. The money I make is divided into two. One is the profit brought by the growth of the company's net profit. The other is profits from valuation fixes. Most of the money I make is profit from valuation fixes. Predicting whether something will happen is always easier than predicting when it will happen.​​​​

Many people keep thinking about money. If you don't think about things other than money in your investing practice, your investments are doomed to fail. If you don't apply your interest, focus, and savvy to your investment practice, and your mind is always making money and making money, you are doomed to fail.​​​​

If a stock continues to rise, many people will start to be optimistic about the company's future. As the stock continues to rise, there will be a lot of bullishness and all information will be interpreted as bullish. If the stock price continues to fall, all those who start to be optimistic will change their minds and dare not be optimistic anymore. With the decline of the company's performance, all information will be interpreted as negative. Most of the opinions on the market are human nature, and the person who makes a lot of money in the end must be against human nature.

My understanding of stocks is different from other people's, and other people don't have the courage to do things like me. Buying a stock, either the stock is delisted, or the stock is bought to get rich. Only this logic. Some people change their minds every day, some people change their minds every month and every year. Some people see that the stock is not going up, they feel that they have made the wrong purchase, and then they change their minds at will. People who change their minds at will, must be wrong. It's also better to go all the way to the dark than to change your mind.

My current knowledge reserve is many times what it was after I came out of school. In the past, some college classmates, some of whom were academically tyrannical, who were the champion of the college entrance examination in such a certain area, seldom studied after graduation, and only a few people could read, but I have not found any one who is so obsessed with me. Although they have a talent for reading, they have more than 20 years of school career and score-oriented thinking. Once they do not need results and scores, they have no motivation to pick up books again. A person has no purpose, he does not know why he is doing it.

Investing requires focus, patience and rationality. Where does confidence come from? Where does dignity come from? Where does freedom come from? After great time and great suffering, will you gain confidence, confidence and dignity.​​​​

A lot of people are actually very inflated. When a person succeeds in one area, he feels that he has insight in all areas.​​​​

Every era has different values. In my father's time, I studied in the Department of Philosophy, and the Philosophy Department of the Chinese Department was very popular in that era. At that time, Kant, Freud, Camus, Schopenhauer and Nietzsche were popular in society. In the newspaper marriage advertisements of that era, almost every man and woman wrote labels that they liked literature and music.​​​​

In the field of investment, many people rely on their feelings rather than correct thinking. Some people feel that the management of company A is inferior to the management of company B. Some people think that not many people around me have used a company's products. Many years ago, I often heard that many people do not drink baijiu, and fewer and fewer people drink baijiu. These scattered things are an untested feeling of the individual, not correct thinking, not conclusions drawn through observation and rigorous thinking.

It's all a traffic culture now. Movies pay attention to traffic, saying that traffic brings box office. Weibo is more about traffic. But I always feel that what is the relationship between self and traffic? Traffic does not fall from the sky, nor will it be given to you casually. When the self has not accumulated to a certain level, it is difficult to undergo qualitative change. The so-called qualitative change is flow. Just talking about traffic doesn't make much sense. You should find a balance between your own efforts and traffic according to your own situation.

When I started investing in stocks, I found that there is one ability that is very important, the ability to be alone. Doing stocks is an investment activity that requires independent thinking. The key is to be calm, calm, and emotionally stable. Whether a person has value or not is two factors. One is literacy, the other is solitude. What is mediocrity? Bustle is mediocrity.​​​​

I bought Maotai a few years ago and now I have Yunnan Baiyao, Dong E E Jiao and Huayi Brothers in my hands. I was always thinking in my mind what would these companies be like in 5 years, what would they be in 10 years. So I can live, and the return must be very good. Some people say that if you take these stocks for 10 years, there will be many uncertainties in the future. I don't care how much money other people make in those 10 years, I only think about myself.​​​​

I don't know much about valuation, and I don't know much about cash flow and liabilities. I'm just trying to figure out what it would be like 5 years from now if I put my money in a company. I've been thinking about it this way.​​​​

Creativity requires creative time periods. When I was young, I read books. In old age, the brain is in the confusion stage. There are very few creative periods available in life. If this time is not used well, the time will pass. Each of us has limited knowledge. Fewer people read books now, and fewer people read classic books. I remember a very classic saying. To read a classic book is to have a dialogue with a good person.​​​​

When the public pays attention to Maotai, Maotai's stock price will not rise significantly. Maotai's net profit will maintain a low single-digit growth rate.​​​​