Before starting a long journey, the children of the "Year of the Weak Crown" accidentally broke the piggy bank that their father had treasured for 20 years, and ...... at the age of 8, 9, and 15The "competition" experienced by the child in his life was recorded on paper by his father.
Behind the note, there is the continuous progress of the child's cognition of hard work, and it is also the testimony of the father on the long road of growth. He understood his father's well-intentioned "notes of life".
If you focus on the gains and losses, the results may not be immediate;If you look at growth, your efforts will definitely live up to expectations......My father finally confided his life insights.
This is the story told by the micro film "In Time", and the narrative of hard work and always walking together touched me deeply.
If I borrowed you a time machine that traveled through history, would you like to go back to that year?
For Han Dongyan, what is deeply engraved in her memory: January 2010.
Walking 618 meters from Jintai Xizhao subway station, a dark gold 17-story building comes into view.
In Beijing's CBD, where every inch of land is valuable, the simple façade of the Nuoan ** Building is not conspicuous, but it contains Han Dongyan's initial impression of "Nuoan".
Among the more than 100 public offerings, the scale of the "waist" of Nuoan**, just like the "totem" they believe in - the lion, dutiful, open-minded, unassuming, but aggressive, down-to-earth every step of the way.
In the past 20 years, Sino Analytica** has carried the wealth hopes and dreams of more than 20 million investors, as well as the efforts and growth of batches of young talents.
From the perspective of the ever-flowing reform and opening up and capital market, how to record and evaluate the current "historical orientation" of Sino Analytica?Where does it come from?Where are they going?
Han Dongyan, Zheng Yi, Zhu Meng, Kong Xianzheng, four ** people from different worlds and roughly the same age, told about the little things they did in Nuo'an**.
Their life succession over the past 20 years, as well as their experiences and insights into investing and life, may help us understand some of the mysteries.
1. A philosophical question of "man and the world".
On the streets of Beijing in the depths of winter, a taxi shuttles on Chang'an Avenue.
Han Dongyan, who was wrapped in a mask, put down her mobile phone and sat in the back row, listening to the story told by the master.
There is an eldest sister in our hospital who was cheated out of 150,000 ...... in a supermarket four or five years agoThe master said.
If you have money to spare, do you use it to buy a house or do you use it as an investment?She asked.
This is a scene in the CCTV documentary "** The first episode of "Why did you come", which was taken on an ordinary winter day two years ago, and Han Dongyan was on the way to investigate.
What is not in harmony with the restless context at that time is that Han Dongyan, who has an investment style of "not holding a group", participated in the filming of the documentary, which reflects the profound understanding of "**to**" from a perspective: **Manager, who has experienced those blind obedience, drifting, and verified mistakes, has experienced those who do not hold together, insisted, and proved to be correct, and gradually builds a sustainable iterative and optimized investment system, so that he knows how to truly manage customers' money.
Last Friday, sitting in the office of the Shenzhen headquarters of Nuoan **, Han Dongyan connected with "Deep Chat Investors". In the picture, she is wearing a black coat, and after two hours of communication, she is as low-key, peaceful, calm, and specul......ative as ever
What kind of belief has driven you to stick to the public offering for nearly 20 years?I asked her.
She said: It's a "sense of mission"!
What is a "sense of purpose"?This is not a "rhetoric" in the field of investment, but a philosophical proposition about the relationship between "people and the world".
Contemporary people, standing between heaven and earth, are first of all "self-crossing", followed by "** beauty". The reality of the latter refers to, first, the trust of the holder;The second is interpersonal collaboration.
In the past period of time, "Deep Chat with Investors" has had in-depth exchanges with many front-line managers in the front, middle and back offices of Sino Analytica, and in their long or short relationship with Sino Analytica, in their review and gaze at the details of the past workplace and investment, the "answer" we are trying to find has gradually surfaced.
2. The four peers who "pushed open this door".
Assistant to the General Manager of Sino Analytica**, General Manager of the Equity Investment Division: Han Dongyan.
General Manager of Marketing Management Department of Sino Analytica: Zheng Yi.
General Manager of Information Technology Department of Sino Analytica: Zhu Meng.
General Manager of Quantitative and Innovation Investment Department of Sino Analytica: Kong Xianzheng.
When the gears of fate began to turn, four practitioners with different life resumes and similar ages became the mainstay of Nuoan in different fields and overcoming obstacles.
When it comes to the fate of "Sino Analytica", each interviewee has a story that cherishes the bottom of their hearts.
Han Dongyan, who has worked in Huaxia for six years, has been an industry researcher since the beginning of 2004 as a fresh master's student to be hired as a Xi in the finance department, and the "long-cherished wish" of becoming a ** manager was completed after arriving at Nuoan.
In the early years, the four heads of the investment department, two of them established a private equity ** after leaving, and Yang Gu and I are still here, one south and one north, one man and one woman ......Han Dongyan recalled.
Over the years, as the leaders of investment research, they have given their "sense of mission" to everyone in the team, led the team to ride the wind and waves, and also devoted themselves to planning for the development of the team.
More than ten years ago, Zheng Yi, who worked in the Shanghai branch of a large state-owned bank, had an impression of the word "Nuoan**" when he was engaged in wealth management business.
During the exchange, Zheng Yi was deeply impressed by an older customer, who was a loyal holder of Sino Analytica, who had never given up for many years, and had obtained nearly ten times the income, becoming the long-term holder of the textbook-level compound interest growth she had seen with her own eyes.
From a large state-owned bank to a public offering**, Zheng Yi's "relationship" with Nuoan is accidental and inevitable.
When the driving force of inner transformation meets the randomness of external encounters, life also blooms with a variety of possibilities.
In the first half year of coming to Sino Analytica, Zheng Yi caught up with the panic of the new crown epidemic and the first warm and cold of the first issuance, and Sino Analytica also began to emerge from that time, looking at the massive influx of subscription funds and the ardent trust of holders, she admitted that the "pressure was very high" at that time!
Now it seems that Zheng Yi first came to the company for a period of time, it is the critical period of the transition from "old Nuoan" to "new Nuoan", and the team of ten people she led has also withstood the pressure from inside and outside the market.
Zhu Meng, who joined Nuoan a year later than Zheng Yi, was recruited into the department by a leading public recruitment school after studying at Wuhan University for seven years, and became the assistant general manager of the department from the most basic technical personnel.
Until the end of 2020, Zhu Meng was introduced to Nuo'an** by his peers, and since then he has started a fantasy drifting with Nuo'an.
Review the three-year fate with Nuoan **, Zhu Mengyong"Shoulder to shoulder".Three words to describe it - there is no flowery rhetoric, but it condenses the coordination between the Ministry of Information Technology and other departments in the past three years, as well as the friendship between him and more than 20 brothers and sisters in the department.
Among the four department general managers exchanged in "Deep Chat with Investors", Kong Xianzheng is the latest to join the company, but he is the one with the most extensive experience.
After graduating from Renmin University, he started the legendary experience of studying abroad, after obtaining a doctorate, he successively worked in foreign securities firms, quantitative private equity, and then returned to China to work in brokerage asset management, public offering**, two years ago officially joined Sino Analytica**, becoming the head of the quantitative department of the company with high hopes.
My rich study and work experience has provided me with multiple perspectivesKong Xianzheng said.
In just two years after coming to Nuo'an**, Kong Xianzheng felt Nuo'an"Harmony but difference".In the investment research meeting, everyone can express their hearts directly, and different ideas can "confront", even the investment targets he is most familiar with can also let him see the multi-dimensional world with thousands of possibilities.
This emphasis on independent thinking and the tolerance of multiple perspectives are the result of the system that Sino Analytica has been building.
In Han Dongyan's view, the construction of investment and research system is a systematic project, including product architecture construction, platform construction, mechanism construction, cultural construction, talent echelon construction, etc., and a truly healthy investment and research system is a professional and diversified soil, so that more potential talents can take root and flourish together, and become a dense forest.
Taking cultural construction as an example, Han Dongyan hopes to create an investment and research culture of "rational questioning, independent thinking, open sharing, and continuous learning Xi with the goal of building a "more resilient and stronger" equity investment system.
Every morning meeting, we ask every manager to share the roadshow information he accepts with the team, and we will do it to this extent now", said Han Dongyan.
We accept the voice of opposition and doubt, but also advocate the spirit of independent thinking, no matter how well-known you are, no matter how good your performance is in the stage, we will regularly review and reflect on the gains and losses of investment practice!Han Dongyan added.
This "one for all, all for one" system and the style of "mutual promotion and continuous improvement" run through all departments of Sino Analytica.
On December 5, Zheng Yi and Kong Xianzheng, who flew from Shanghai to Shenzhen, and Han Dongyan, who flew to Shenzhen from Beijing, met Zhu Meng, who had been waiting in Shenzhen for a long time.
3. The "silky feeling" of venous underflow
I miss the time I used to have in Noan ......”
As an in-depth participant and witness of the industry, in the past ten years, I have been in close contact with many managers and practitioners of Sino Analytica, some of whom have left, or "run for personal gain", or started a business, or went to other companies, and in the communication with them, I can often hear similar heartfelt testimonials. Some are still holding on, as short as two or three years, and as long as more than ten or twenty years.
What is it like to work at Sino Analytica?
One of the general managers of the department interviewed said that it was an indescribable "silky feeling" - in this company, whether it is the communication and exchange between department colleagues, or the coordination and cooperation between departments, it is very smooth. Because everyone has the same goal, communication and problem-solving are synergistic and efficient, which makes the people in it feel comfortable.
In the second half of last year, Kong Xianzheng noticed the independent trend of "micro-cap stocks". Under the beta of the overall decline in the valuation of the whole market, the maverick of "micro-cap stocks" alpha reflects obvious excess returns. So, they began to observe, understand, and argue internally.
In February this year, Kong Xianzheng began to take over several ** such as "Noamdo Strategy", and tried to use the "micro-cap stock" strategy, as a rare innovative strategy in the whole market, which naturally needs the full support of the technology department, investment research department, and marketing department.
In the fourth quarter of this year, Kong Xianzheng's "micro-cap stocks" gradually attracted the attention of peers and the market.
In the overseas quantitative private equity circle, the competition for transaction speed is very hot, and it has even reached the nanosecond ......Kong Xianzheng said.
A few years ago, as an elite returnee dedicated to quantitative trading, he returned to the domestic ** circle, and also deeply felt the competition in the quantitative business, in addition to the fight of brainpower and algorithms, the collaboration and support from the company's technical department also played a pivotal role.
And this is exactly what Zhu Meng of the Ministry of Information Technology is always considering.
As the back-end department of the company, Zhu Meng's positioning of the information technology department is not satisfied with the role of cooperating with and supporting the front and middle office departments, and they also assume the role of taking the initiative to become the person who knows the business best in addition to the business department, trying to tap the needs of various departments, promote the empowerment of science and technology, and even do the responsibility of researching and exploring the pain points of the technology industry, and providing technical support and investment research suggestions to the investment research department.
For example, in the communication with science and technology peers, in the selection of software and hardware suppliers, they will also form a detailed research report on the application and market share of cutting-edge technology, and provide communication and innovation for investment and research departments, which can improve the accuracy of investment in science and technology tracks.
4. The endless "Lion Army".
For the "winter" of the four seasons of the year, Han Dongyan has a special feeling.
The most important nodes of her life are all related to winter. She was born in winter, and her parents also added a footnote to her name as "winter".
In the winter of 19 years ago, she participated in the Huaxia ** interview as a fresh master's graduate of Renmin University and was hired, and began to enter the ** industry.
In the deep winter of 14 years ago, she opened the door of Nuoan ** and started the longest trip of her career.
In the early winter of 8 years ago, she took charge for the first time and became the ** manager of Sino Advanced Manufacturing.
In the winter of 2023, on the occasion of the 20th anniversary of Sino Analytica, she took the microphone and reviewed the mental journey of coming to Sino Analytica over the years, as well as a little insight written to Charlie Munger this winter.
You have to find a game where you have an advantage, and it has to be something that interests you a lot, and you have to determine if the job is helpful to society. Han Dongyan quoted Duan Munger's quotation.
Today, Han Dongyan is very fortunate to have found the love of her life: investment.
Investment, on the one hand, has driven her continuous academic Xi and personal growthAt the same time, the sense of accomplishment brought by investment has also made the holder, and in the limited life experience of investing as a business, she has also gained the love of life and precious friendship.
Looking back at the many people who have come and gone over the years of the Sino investment research team, Han Dongyan believes that their excellent qualities in the past will be inherited and precipitated for those who remain and those who come after them to learn from each other, and the wisdom of investment will also be passed on from generation to generation.
In the course of communicating with several front-line managers of Sino Analytica these days, "Deep Chat Investors" noticed that the positive energy such as "positive", "friendly", "tolerant" and "collaborative" conveyed by their words and deeds is also deeply reflected in their philosophy of life outside of investment.
They are not only specialized in their respective fields, but also "psychological coaches" for young people in the department, and mentors and friends of their respective family education.
Kong Xianzheng, who works in Shanghai, and Zhu Meng, who works in Shenzhen, have many young people born in the 90s and 95s in the team, and in the face of the high pressure and anxiety of survival in big cities, as managers, they will organize various forms of activities to help the team "positively face" the problems of life.
Zheng Yi, who works in Shanghai, and Han Dongyan, who works in Beijing, are heroines in the company, but when they return to their families, they are life mentors on the road to their children's growth.
Whether it is the front desk of the company in the publicity, or the teacup in the inconspicuous place, the image of the "Nuoan Lion" can be seen everywhere, and the spirit of the lion, especially the spirit of the conscientious guardian, is also engraved in the blood of the Nuoan people.
There is also such a scene in "In Time" - in the dead of night, under the dim lamp, the father looks at his sleeping son and writes down his understanding of life ......At this point, the theme of the micro-film has also been sublimated.
Companionship gives us the opportunity to find ourselves in the mess;Companionship, let us touch hope in chaos. Every step of the way is an extraordinary and ordinary road!”
Working hard to walk together, achieving each other, and always accompanying, Nuoan is still moving forward on the road of growth.
(Chen Junling, founder and chief writer of Shenliao Investor, has served as a senior reporter of Shanghai ** Daily, director of public offering ** sub-marketing planning, deputy editor-in-chief of Finance Associated Press, and the first ** supervisor of AMAC).