To The Moon

Alibaba has undergone a sudden and significant reorganization of its management structure. Daniel Zhang, previously serving as Chairman and CEO of Alibaba Group, will now step down from both positions and assume the role of CEO of Alibaba Cloud unit. Eddie Wu, one of Alibaba's co-founders, will take over as the Group CEO, while Joe Tsai, another co-founder, will become the chairman. Unlike Zhang, both Wu and Tsai have been with Alibaba since its inception. Wu initially served as a technology director in 1999 and possesses extensive experience in the company's core e-commerce business, monetization, and technology, making him a logical choic to oversee the entire group. Tsai previously held the position of the company's chief financial officer until 2013 and currently serves as executive vi

The Federal Reserve is convening once again to discuss interest rates over the next two days. Based on my analysis, I predict that there will be a 0.25% increase, marking the final hike for the year. Here's why. The first consideration is the impact that rate hikes have already had on the banking system. Banks have been hit hard by mark-to-market losses on their treasury bill holdings, as rising interest rates have pushed bond prices in the opposite direction. Several banks, including Silvergate Bank, Silicon Valley Bank, Signature Bank, and most recently First Republic Bank, have already suffered significant losses as a result of the recent rate hikes. Clearly something has broke. Given this situation, it seems unlikely that the Fed will adopt an aggressive stance on rate hikes in the nea

$Li Auto(LI)$ Li Auto stock is trying to recover after a volatile year. Li Auto (LI) and other China EV stocks are showing tremendous sales growth, and Li is starting to show profitability. After a rough 2022, production is rebounding with a new model on tap. Is Li Auto stock a buy now? Founded in 2015, the Beijing-based company competes directly with Tesla (TSLA) and Nio (NIO) in the high-end EV market. The company debuted its first model, an electric hybrid SUV called the Li ONE, in December 2019. That vehicle carries a price tag ranging from $29,000 to $76,000 and was one of China's top-10 sellers across all fuel types in 2020. Covid shutdowns hit production, logistics and demand for Li Auto and other EV makers l

The good news is that it is easier and definitely achievable but it takes time, patience and discipline. Saving for retirement is tough, especially when the stock market is volatile. It can also be difficult to distinguish the good investments from the bad when stock prices are down, and it's tempting to avoid the market altogether. However, smart investment is the way to go. There's one type of investment that's safe, requires very little effort, and could help you retire a millionaire: the S&P 500 ETF. Returns from S&P 500 ETF over the years What Is That? 🤔 The S&P 500 itself is a stock market index that includes stocks from 500 of the largest and strongest companies in the U.S. Since launching in 1993, the SPDR S&P 500 ETF Trust has returned an average annual retur

‘’致股東信”很有用，但它們從來沒有對巴菲特可以傳授和複製的成功方法做出過令人滿意的解釋。編者按：市面上關於巴菲特的書可能已經足夠擺滿整整一個書架了，但是勞倫斯·坎寧安的新書《巴菲特的嘉年華》仍然值得一讀。跟大多數聚焦於巴菲特投資經歷和理念的書不一樣的是，這本書彙集了四十多位參加過伯克希爾股東大會的各界人士對於巴菲特的直觀感受，他們都近距離接觸過巴菲特和芒格本人。這些人中有職業投資者、合作伙伴、創業者、商學院教授和作家等等，他們的共同點除了都是伯克希爾公司的股東之外，都試圖從各自擅長的角度來理解巴菲特投資成功的祕訣。本文選自第五章專家的第一篇《投資於人》，作者普雷姆·賈因是一位會計專家，他從巴菲特身上看到了那些在財務報表上看不到的東西。1987年，當我還在賓夕法尼亞大學沃頓商學院擔任財務報表分析課的助理教授時，一位資歷較老的同事問我：“沃倫·巴菲特為何如此成功？”我回答不上來。他說服我專門研究巴菲特以找出答案。從科學角度出發，這位同事建議“我們尋找特例來深入學習”。我的研究旅程就這樣開始了。在閱讀了許多文章並與幾位研究人員交談後，我發現大多數學者都能舉出巴菲特先生獲得成功的例子，但沒有人能解釋他為什麼會成功。當時普遍的答案是，他的巨大成功應歸功於偶然的運氣。我那時並不認為這是一個令人滿意的答案，多年來這種解釋已被證明是不充分的。我認為巴菲特先生是個特例，因此決定深入挖掘。有兩個原因促使我去尋找問題的答案。第一，高尚點說，是為了教我的學生如何成功。第二，自私點說，是為我自己。我給伯克希爾-哈撒韋公司寫了封信，要來了1979年以來巴菲特先生所有的年度信件，並裝訂成冊。我還請巴菲特先生在封面上簽名，他答應了我的請求，這讓我喜出望外。每年的“致股東信”都很有用，但它們從來沒有對巴菲特先生可以傳授和複製的成功方法做出過令人滿意的解釋。從我自己的教學經驗中，我知道聽老師講課是很重要的，

$Apple(AAPL)$ ended at an 8-month peak of $169.68 on 28/4 (Fri), the highest level since 26/8/22🐂🐂🐂 At its current valuation, 🍎 has a market cap of $2.68 trillion, making it the most valuable company trading on the 🇺🇸 stock exchange. Shares are up 30.6% so far in 2023, almost quadrupling the 7.7% rise in the S&P 500 index, was outperforming the broader market by a wide margin over the same timeframe🥳🥳🥳 ⭐️ I expect 🍎 to follow 🐂-ish earnings reports MSFT, GOOGL, META, & AMZN last week $Alphabet(GOOGL)$ Bullish$Amazon.com(AMZN)$ Bullish$Meta Platforms

巴菲特在2020年股東信中寫道：“回顧我時好時壞的投資記錄時，我得出的結論是，收購就好比婚姻：當然，一開始婚姻是令人開心的，但之後現實往往會偏離婚前的預期。美妙的是，有些時候，新婚夫婦為雙方帶來了超出預期的幸福。而在另外一些情況下，幻滅也來得很快。將這些畫面放到公司收購上面，我不得不說，一般是收購者遇到不愉快的意外情況。在追求收購的階段，我們總是容易滿眼樂觀。按照這種類比，我想說我們的“婚姻”記錄大部分還算差強人意，各方皆大歡喜，都很滿意很久之前所做的決定。我們的一些合作關係如同田園般愜意。但是，有不少情況，事後很快會使我很納悶我在“求婚”時到底在想什麼，纔會做出當時的決定。”這是巴老最近一次在股東信中提到“投資就像結婚”的著名觀點。放眼過去，巴菲特最滿意，股東信中頻頻提及的“美滿婚姻”有如下幾樁（當然，令巴菲特極端滿意的收購案不止於此，下列僅為最著名的幾例）：1. GEICO（蓋可保險公司）1976年收購50%股份，1995年成為伯克希爾全資子公司巴菲特早在1951年時，就在老師格雷厄姆的影響下買入過蓋可的股票，當時他投資10282美元，並於次年獲利50%了結。1976年，因為估計賠償錯誤，再加上定價過低，蓋可幾乎瀕臨破產，當時該公司股票從每股六十一美元暴跌到二美元，在市場都不看好的情況下，巴菲特卻認為這場風波對蓋可的價值無損，果斷花費4500萬美元收購了蓋可三分之一的股份（後因蓋可回購等因素的影響，巴菲特的持股比重逐漸上升到二分之一）。之後，又在1995年花費23億美元，收購了蓋可餘下的股份。蓋可為巴菲特帶來的豐厚浮存金，成為了其投資的堅實後盾。2. Nebraska Furniture Mart（內布拉斯加傢俱百貨）1983年收購1983年時，巴菲特以5500萬美元收購了內布拉斯加傢俱百貨90%的股份。巴菲特經常在股東信中提及當時收購的情形：合約只有一頁，B太太做個記