银行螺丝钉·2025-09-22 13:51Group 1 - The article emphasizes that different regional stock markets do not move in unison, and understanding multiple markets can provide investors with more opportunities [2][3] - Global investment can significantly reduce volatility risk, suggesting that investors should consider diversifying their portfolios internationally [2] - A free course is offered to teach methods for investing in global stock markets through index funds, along with supplementary materials like course notes and mind maps [2][3] Group 2 - The article discusses various schools of thought within value investing, highlighting Graham's classic strategy evolving into value and dividend indices [4][5] - Value investing has yielded good returns in the A-share market over the long term, with multiple different schools emerging over the past century [5] Group 3 - Value investing 1.0, referred to as the "cigarette butt" strategy, involved picking up undervalued stocks during the post-war period when many companies had market values below their liquid assets [6][7] - Value investing 2.0 transitioned to a focus on low valuation investments, particularly in the 1960s during the "Nifty Fifty" bull market, where leading companies reached high price-to-earnings ratios [8][9] - Value investing 3.0, influenced by Charlie Munger, shifted towards buying excellent companies at reasonable prices, exemplified by Buffett's investment in See's Candies [11][12]