VQ strategy–Value investing part

Good Business and Good People are the only two measurements of security selection. Good Price is the time selection. Good Business > Good Price > Good People. Three Basic Laws (Graham) "The intrinsic value equals to the assets of the company" OR (Buffett) "The intrinsic value equals to the future free cash flow of the company"Uncountable... Continue Reading →

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The Brief analysis of Momo

Summary Momo dropped 22.4% from 31.69 (closing price on Dec 04) to 24.58 (closing price on Dec 11). The analyst normally does not believe that Momo's net income is sustainable (may be inappropriate word choice). After the financial report, the high expense and low growth rate of live streaming become the other reasons for the pessimistic... Continue Reading →

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The personal philosophy of worldly Boxuan– the significance

世俗意义上的成功有三种,财富,权利,和名声。三者相互关联。追求这三种是无可厚非,但要清楚自身动机,换言之,吸引自己的原因。 他人是最大的一个假动机。当我们追求这三种时,往往是因为环境告诉我们这些好。这三种都指向万人之上。实际上财富,权利,和名声都是表象,与他人不同,出众才是根本原因。也就是说,失去他人这个参考系之后,这三种对我们的吸引力就会消失。前两种好理解。。。 Click the title to read more

Internet industry

Empowering--the essence of the internet company The significance of the internet industry is to empower other industry. To empower means to make it more efficient Like electric power companies, internet companies do not produce value alone but produce value through empowering other companies. In some specific industries, internet companies develop efficiency too much from quantitative... Continue Reading →

The analysis of WeChat

WeChat WeChat starts with just the communication and has expanded (is this the right word) to SNS, payment, UGC, and to connect service with people. Combined MAU of Weixin and WeChat was 1,057.7 million, an increase of 9.9% YoY. ( 2018 Q2 financial report).Translation: WeChat has strong quantity, quality, and cost of traffic. Good, could... Continue Reading →

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