What I learned in Hong Kong stocks 1) Value investment: When...

What I learned in Hong Kong stocks

1) Value investment: When everyone thinks it's valuable, it has value first. The value you feel is completely worthless when no one recognizes it... What you need is a strong heart and a long wait, which can span a lifetime or longer

2) Trends: Trends are created by the market; there are winds and trends

3) Quality stocks: Quality stocks in country A are not suitable for placement in country B. The previous aura may be a bottleneck in the future, which is particularly evident in old-fashioned management

4) Shareholders' rights: 90% of the board of directors and management don't care about the rights of external shareholders or minority shareholders; they only care about their own and internal shareholders' rights. This situation is particularly evident when internal shareholders control a large share of shares

5) Cycle: Every stock and industry has its own cycle. The time of the cycle depends on changes in people's minds

6) Garbage: When everyone is speculating on so-called garbage, the best investment is to follow along. When the bubble bursts, three steps of arbitrage escape faster than others

7) Bubbles: If you have bubbles, you have dreams, although most bubbles are accompanied by hope and despair. But no foam is like a glass of boiling water, plain and odorless

8) Persistence and stubbornness can only be clearly distinguished after the fact. Geniuses and idiots alike