Core Viewpoint - The article discusses the challenges and dynamics of private equity and fund management, emphasizing that many so-called investment experts may not possess genuine investment strategies and often rely on marketing and fundraising rather than actual investment performance [2][8][10]. Group 1: Private Equity Dynamics - Private equity has low entry barriers, primarily requiring fundraising ability rather than investment expertise [1] - Many private equity managers may not have profitable strategies, leading them to seek external investors to validate their approaches [2][3] - The article highlights that successful private equity managers often transition to managing their own funds after proving their strategies, rather than continuing to manage external capital [2][4] Group 2: Fund Management Challenges - Fund managers face significant constraints, including regulatory requirements and investor expectations, which can limit their investment strategies [4][10] - The primary revenue for funds comes from management fees rather than investment returns, indicating that the focus is often on fundraising rather than generating profits for investors [8][10] - The performance of funds can be misleading, as many funds report strong returns while the actual investor experience may be negative due to high fees and poor timing [8][10] Group 3: Market Perception of Investment Experts - A significant portion of well-known investment figures may have inflated or fabricated performance records, with only a small fraction genuinely achieving long-term success [5][9] - The article suggests that many investment professionals may struggle to adapt to the structured environment of fund management, which can hinder their effectiveness [9][10] - The distinction between true investment acumen and marketing prowess is crucial, as many so-called experts may be more focused on their public image than on actual investment success [10]

Group 1 - Fangyuan Co. plans to reduce its repurchased shares by 3,320,000 shares, which accounts for 0.65% of the total share capital, to supplement its working capital [1] - Kangtai Medical's shareholders intend to reduce their holdings by no more than 3.59% of the company's shares [1] - Zhigao Machinery is listed for new share subscription on the Beijing Stock Exchange [1] Group 2 - Convertible bond data includes various bonds with their current prices, redemption prices, last trading dates, last conversion dates, conversion values, remaining scales, and the proportion of convertible bonds to the underlying stocks [2][4][6] - Notable convertible bonds include Beilu Convertible Bond with a current price of 133.000 and a conversion value of 134.90, and Zte Convertible Bond with a current price of 163.100 and a conversion value of 164.90 [2] - The remaining scale of several convertible bonds varies, with some having a significant proportion of the underlying stock, such as Hongfeng Convertible Bond at 7.95% [6]

我看到的最好的回答，是王文的。他的观点是， 第一有卓越的智商 第二对投资的热爱 第三阅历 第四长期主义思维 对于50岁以上的，增加三项特质要求：好奇心、谦卑感和勤奋。 以这个标准，我审视了身边的人，发现绝大多数在第一条上面都及格了。但大多数也止步于 第二条。 有的，是赚了点小钱就没了热情。有的是赚不到钱就没了热情。 真正从市场上赚到几个甚至几十个小目标的，绝大多数符合上述标准。 我想对于大多数人，最合适的，是把投资作为理财的方式，而不再幻想暴富。更多的时间精 力用于享受生活，开发兴趣。曾经以为个人只有欲望，没有兴趣。但经过一段时间的探索， 结合个人经历和努力思索，终于还是找到了几个方向。在这几个方向上，即使结果不好，甚 至没有结果，这个过程总是充满了热情、愉悦的心情，甚至体验到了所谓的心流。 如果对王文的观点进行一定的修正，我现在认为以下三点是能做好投资的金标准，且有先后 顺序： darksage 投资需要高智商是最大的误区，实际上只需要正常人的智商就够了。真正重要的是正确的原 则和坚韧的性格。 花过水无痕 1、知道和相信常识 （智商不要太低就行，达到小学能毕业就OK） 2、能坚持（不被市场情绪左右，牛市人声 ...

Group 1 - The core viewpoint of the article discusses the upcoming IPO of Zhigao Machinery, highlighting a lower threshold for subscription and an estimated subscription rate of 0.051% [1] - Zhigao Machinery's issuance price is set at 17.41 yuan, with a public offering market value of 3.55 billion yuan [1] - The total estimated subscription amount for the IPO is around 700 billion yuan, indicating significant market interest [1] Group 2 - The article mentions that Changjiang Electric Power plans to invest 26.6 billion yuan in shipping infrastructure, although it may not yield substantial profits [1] - China Shenhua has suspended trading to prepare for the acquisition of controlling shareholder assets, indicating strategic moves in the market [1] - The National Energy Group is planning to acquire multiple companies through a combination of share issuance and cash payments, aligning with the goal of supporting the real economy [2]

Core Viewpoint - The article reflects on the author's personal experience with a property demolition and the subsequent financial gains, highlighting the impact of local government policies on real estate and personal investment strategies [1][3]. Group 1: Property Demolition Experience - The demolition process took two years, with the author receiving a total compensation of 2.88 million yuan, which was primarily in cash [1]. - The author worked in a local state-owned enterprise and did not face significant challenges during the demolition process, indicating strong governmental influence in expediting the compensation [2]. - The property was a self-built house from the 1970s, located in a central area, which contributed to its value during the demolition [1]. Group 2: Financial Gains and Investment Strategy - The author started with 3 million yuan in the stock market and, after receiving the demolition compensation, had a total of 5.8 million yuan, which later grew to over 14 million yuan within two years [3]. - The timing of the demolition was fortunate, as it occurred before a significant downturn in the real estate market, allowing the author to capitalize on the last high point of property values [3][4]. - The author chose not to invest in real estate immediately after receiving the compensation, respecting the wife's preference and considering the overall market conditions [4]. Group 3: Economic and Market Insights - The article discusses the negative consequences of local government policies, particularly the reliance on state-owned enterprises to support the real estate market, which has led to financial strain on local governments [4]. - The author notes that the compensation process was complicated by the local government's financial issues, leading to delays in receiving the promised funds [4]. - The overall investment strategy has been influenced by a combination of market understanding and personal circumstances, with the author acknowledging the role of luck in their financial success [4][5].

Group 1 - The article discusses the implications of state-owned enterprises (SOEs) being used as a means for the government to manage debt, suggesting that this reflects a lack of true market economy principles [1][2][14] - It raises concerns about the impact on minority shareholders, indicating that the profits of listed companies are being redirected for social purposes rather than for shareholder returns, which contradicts the fundamental purpose of these companies [14][16] - The article suggests that the government may be testing the waters with high-profile cases like Yangtze Power, potentially leading to broader applications if successful [2][19] Group 2 - There is a shift in taxation focus from circulation taxes to property taxes, indicating a new phase of taxing wealthier individuals and entities [4] - The article highlights the social responsibility initiatives of companies like Kweichow Moutai, which have contributed significantly to local development and education, suggesting a trend among corporations to engage in social welfare [5][19] - It mentions that the financial resources of SOEs are essentially state assets, implying that the interests of shareholders may not be prioritized in decision-making processes [16][19]

以下是大致一些数据，供大家参考 上证，上轮顶部3731，当前3582，距离顶部4% 中证全指，上轮6073，当前5173，距离顶部17% 深证，上轮16293，当前11059，距离顶部47% 港股，上轮31183，当前25538，距离顶部22% 巴菲特指标，上轮97%，当前81%，距离20% 中证全指，本轮最低3566，当前5173，涨45% 港股，本轮最低14794，当前25538，涨72% 怎么感觉牛市进入后半程了，最多有20%空间呢，大家一般如何估算牛市顶部区域的呢？ luckzpz @心太软 身边一个不炒股的朋友咨询我开户的事情 早着呢！ 等他向你推荐股票再担心吧。 glasses 熊市不言底，牛市不猜顶。 当前缓慢上行，很多韭菜都战战兢兢的，一根阴线能吓跑一小半人，说明没疯狂，等到人人 看多，老韭菜都不提风险的时候，就是顶部了。 每次向老婆汇报炫耀后，账户就差不多要跌回去了。最近尽量憋着在家里避免谈到投资的 事，哪天憋不住也就到顶了。 blacklevi0823 看哪天基金又开始比例配售了 你就可以马上跑路了 因为韭菜都上车了。 转身瞬间 楼市熄火，股市可能会超出你的想象。 东楚散汉 就上证来说，应 ...

Group 1 - The company Shanying International has changed its name from Shanying Paper, which raises questions about the reasoning behind the rebranding while still referring to itself as Shanying Paper in announcements [1] - China Shipbuilding Emergency's 2022 annual report revealed accounting errors, leading to an overstatement of revenue by 31.37 million yuan, which is 1.86% of the reported revenue, and an overstatement of profit by 7.14 million yuan, which is 36.64% of the reported profit [1] Group 2 - Shanying International plans to establish a partnership enterprise with a valuation of 2.977 billion yuan, aiming to attract long-term investors such as China Orient Asset Management and others, which will enhance its sustainable development and core competitiveness [2]

Core Viewpoint - The highest realm of trading is to achieve a state of minimal concern and effort, akin to a strategic approach in warfare, where one seeks to win without direct conflict [3][10]. Group 1: Trading Philosophy - Trading is likened to warfare, where each buy represents a strategic move, and successful traders possess the ability to buy low and sell high, achieving victories through skill [3]. - For most investors, diversification and small position sizes are recommended to mitigate risks, allowing for gradual accumulation of gains [3]. - The ultimate goal is to reach a state of "no desire" in trading, focusing on simplicity and detachment from emotional influences [10][11]. Group 2: Strategies for Success - Successful trading involves waiting for the right opportunities, which can be achieved through global asset allocation or by waiting for market downturns to buy undervalued assets [5]. - The concept of "buy and hold" is emphasized, with the idea that the best investments are those that do not require selling [7]. - Understanding market cycles, participant psychology, and value assessments is crucial for making informed trading decisions [13].

Group 1 - The core viewpoint of the article discusses recent developments in the Chinese stock market, particularly focusing on new stock listings and convertible bonds [1] - The new stock "Youli Intelligent" on the Beijing Stock Exchange has a threshold of 6.47 million [1] - The "Lincang Convertible Bond" is undergoing a down adjustment [1] - The "Gansu Energy Chemical" has resumed production at its Wangjiashan Coal Mine, well number one [1] - The "Aofei Convertible Bond" will not be forcibly redeemed [1] - "Dongjie Intelligent" is undergoing changes in its controlling shareholder's upper-level equity structure, which may lead to a change in the actual controller [1] - The "Xianle Convertible Bond," "Shengxun Convertible Bond," and "Jingrui Convertible Bond 2" will not undergo down adjustments [1] - "Dingjia Precision" has been listed as a new stock on the Beijing Stock Exchange [1]