WE THINK: Why the Fed is becoming the problem itself ? How to face irrationalities in the market ?
we have learned to become graceful towards all irrationalities, as we understand this is one of the most important characteristics of market cycle. As an investment manager in the listed securities market, we believe that 1) the most important part of alpha comes from pick stocks with revenues earni
2023-05-08WE THINK: Change of a century how should we treat GPT? Engage or disengage?
While we think that AI-related segments have been too hot recently, it is still a good thing for the capital market to have a consensus and money-making for investors. This bubble effect will ripple out and radiate into other sectors or themes with potential, increasing the overall investment sentim
2023-04-25WE THINK: Don't be fooled by short-term uncertainties. The hardest thing in investment (14) – understanding the core issue by seeing through superficial
we would discuss the typical Spring performance and corresponding investment strategies, what are the short-term obstacles that blocks you from seeing the core issue of matters, and why is such the most important ability we ask for as a research analyst.
2023-03-13WE THINK: Knowing where growth will come in 2023 through micro observations
While mediocre look at results, professional look at causes; If Macro data are results of the economy, then Micro economic activities are the causes of such data.
2023-02-05WE THINK: 2023 Overview: Winter has passed, Spring is coming
Much happened in the past year and we will try to conclude the events with the following keywords: geopolitical disputes, inflation & recession, globalization, foreign affairs, China’s anti-pandemic controls, Chinese real estate market, Chinese economy, global economy, and global capital markets.
2023-01-03WE THINK: Walking out from the Illness; Market continues its rally in the midst of doubt
Stock markets in November surprised many with its strong performance: Wind China all A Index rose 7.86%, Hang Seng Index and Hang Seng Tech Index rose 26.62% and 33.15% respectively, while NASDAQ Golden Dragon Index rose a fabulous 42.13%. From “Selling China” in October to “Buying China” in Novembe
2022-12-08WE THINK: When will the market bottom out?
The month of October was no better than September. Though the WIND All China Index dropped only 2.51%, the CSI300 Index fell 6.93%, and the “Maotai Index”, an index by WIND that covers 30 blue-chips of different sectors in China, fell 6.48%. Year to date the CSI300 fell 28%, more than 2018’s 25.3%.
2022-10-31WE THINK: Dollar appreciation leading to another crisis?
It’s been a grim 3Q for year 2022 for the global stock markets–Wind China-A Index fell -12.61%, while NASDAQ resulted in -4.11% after a short-lived rebound (falling -23.65% from its peak). A-share market performance was pathetic – rebounds were short-lived. In September, Zijing Mining, Wuxi Biologic
2022-10-08