In late October, when I postedAfterwards $Tesla (TSLA.US)$ There have been two consecutive price reductions. To be honest, this sudden price adjustment today is somewhat beyond my expectations. But such arbitrary and free pricing ability, in the context of the high upstream cost prices, demonstrates the company's strong competitiveness!
Next, the monthly data from the China Association of Automobile Manufacturers for October has been released, and the sales of gasoline vehicles have started to decline... This is not surprising. The industry's "winter" began three to four years ago. Subsequently, there was the "automobile subsidy for rural areas," the transition from National V to National VI emission standards, this year's direct cash subsidies and a halving of the purchase tax, as well as the second round of "automobile subsidy for rural areas." After implementing the same policies, the marginal utility will decrease. In addition, the improvement in demand for automobiles has been largely exhausted this year (for example, there was a significant month-on-month decline in luxury car sales in October, and the demand for improved vehicles from owners with parking spaces/garages for electric vehicles is relatively saturated). Next year will undoubtedly enter a more differentiated "battle" year, with Tesla's price reductions and the introduction of new models becoming points of contention. The phase-out of subsidies for new energy vehicles, coupled with the uncertainty of upstream lithium mines, as well as the cold weather in northern regions (power outages are 150%-200% of those in the summer) and the issue of coverage of fast charging stations, will all impact further penetration of new energy vehicles. The competition in the "existing stock" gasoline vehicle market is expected to be extremely fierce.
Some "experts" always talk about encouraging policies to stimulate the market when the industry is not doing well, but for the existing stock market...

$Hang Seng TECH Index (800700.HK)$Find a company like Maotai, take it for decades, go sightseeing, drink and play ball, and make more money than most people.
This is the investment state that many investors dream of, and many big Vs in Snowball are spreading this investment idea. I think most people may not understand the difficulty and risk of this investment idea, but it is just a kind of self-hypnosis. comfort yourself with a long-term prospect that cannot be proved for the time being.
Suppose there are two investors whose investment returns are good, but their investment methods are not quite the same.
A highly concentrated, ultra-long-term holding, in one or two companies made N times, for example, some big V over the years the only success is Maotai, Gree, Vanke and other companies.
B relatively scattered, medium-and long-term holding, every few years, the position of the company changed more than half, a single company does not earn much, but accumulated a small victory, but also achieved considerable profits in the long run.
If you choose, whose investment method do you choose to learn? Whose investment method is more likely to succeed?
I am inclined to learn B's investment method, because A's success may only be a survivor's deviation. I believe that at least some investors who have achieved great success in Maotai will not be able to find the next Maotai. The investment method summarized by An is likely to be similar to the lottery experience summed up by the winners of the two-color ball.
A's investment method can be replicated weakly. Softbank Corp. never found the next BABA after BABA, nor did the South African newspaper Group after Tencent.