I started my career in investment 20 years ago, and I've gone through several upgrades in the intervening years
From two or three Hong Kong Hang Seng Index ** trades per day in the early days, to one domestic commodity ** trade every two or three days.
Then 11 years ago, we formally established a private equity ** management company, opening the road of stock index ** quantitative trading, at that time there was no formal private equity ** company, we were still established in the form of "limited partnership". From December 2012 to September 2015, in two years and nine months, the net value of ** under my management increased by 6 times, while the index rose by only 30% in the same period.
In June 2015, part of the reason for the market was attributed to the stock index, so the stock index was restricted from trading in September, and our quantitative trading could not be done, because the limit on the number of open positions and the increase in transaction fees led to no liquidity in the market.
CFFEX announced in September 2015) Although the quantitative trading of stock index ** cannot be done, the manual trading of commodities ** is OK, and I have saved more foundation in the past two years, and I can use the mature technology of the year. But I know very well that trading is always a game of probability and odds, I don't want to stay by the computer all my life to watch the market, I want to be able to have a broader horizon, more active thinking.
In 2016, after a year of thinking and calming down, I decided to start researching fundamental value investing. Because the right way to invest is actually value investing. Trading is always a zero-sum game, and the money you make must be someone else's loss. Value investment is different, behind the ** is the real enterprise, the enterprise can truly create value. The purpose of our value investment is to make money for the growth of the enterprise, which is the right way to invest, and only this money can be earned safely and steadily for a long time.
So I gathered a few old friends from the financial industry to form a new company together. A company definitely needs to be profitable, but the issue of profitability has always been difficult for us. We have always insisted on using a research attitude to make content, and the output content is often boring, and many investors have no patience to read it. Of course, over the years, we have continued to output the most important principle of content quality, and it has been more than six years now. In recent years, the company has increased its registered capital several times, and now the net expenditure has reached 16 million.
Everyone says that in this industry, you can't survive without cutting leeks, but no matter what, we will never do that. What we want to do is a lifelong thing, and if we want to do it for a long time, we must give the real thing. We also believe that whether something is good or bad, time will tell, and everyone will have a correct judgment in their psychology, but we have not spread it enough for the time being.
In the second half of 2023, I established the "Rock Pine Investment Research Circle". Some of the important research results of our team are shared with friends in the investment and research circle in the most down-to-earth way, with a variety of complex business logics, industry and company investment logic.
Screenshot of the investment research circle) 80% of the people in this world are extremely poor all their lives, and it is impossible to do a good job in investment. And investment is something that must be done by those who have pursuits. Our team has the ability to help you solve these problems.
Joining the "Rock Pine Investment and Research Circle" can mainly obtain two values:
First, Yansong's investment research column, 36 issues a year, takes you to explore the investment logic behind industries, enterprises, and hot events.
Second, add my personal WeChat, when you have important investment decisions, there is a senior and reliable person who will provide you with the most pertinent and personal emotional advice.
One of our words of advice and one sharing may determine whether you become a demon or a Buddha in investing, the most important thing in life.
Feedback from customers in the investment research circle).
You pay 999 yuan a year, and we provide 36 sessions of the most elite investment ** course every yearThen send private consulting services to senior investors who have been in the industry for 20 years.
If you want to buy, you can send me a private message!