To The Moon

虎友，你好～ 歡迎再次來到芝士學堂，我是芝士虎這次爲大家準備了彩蛋，文章結尾揭曉 🎁絕大部分人都聽過「財報」這個詞，但很多人對它有刻板印象，認爲讀懂財報是件專業且困難的事，畢竟財報裏包含了大量晦澀難懂的金融名詞。但儘管這樣，還是有非常多的投資者和金融大佬，願意把大量的精力和時間花在研究財報上，這是爲什麼？股神巴菲特曾說過：你必須瞭解財務報告，因爲它是企業與外界交流的語言，一種完美無瑕的語言，只有你願意花時間去學習它，才能夠獨立選出投資標的。我說的👆換句話說：你在股市賺多少錢，跟你對投資對象的瞭解程度成正比。很多人不能理解，不學美股財報，只要掌握了基礎的股票交易知識，照樣可以炒美股，幹嘛還要花時間去學美股財報呢？ 你看，這就是你和投資大佬們的差距了。巴菲特在股市中鑄造了無數令人津津樂道的投資經典案例，每一個案例背後都有他對於公司財報的獨特理解和看法。我們來看看其中的兩個最經典案例： 1、Sanborn Maps Sanborn 主要業務是爲：保險公司印刷和校正美國所有城市的地理詳圖；這類地圖能提供下水道的寬度、消防水龍頭的位置、屋頂使用材料等信息。Sanborn 不僅能憑藉自身的壟斷地位，長期獲得高額利潤，並且還不會受到經濟週期影響；公司業務本身不需要大量資金投入，所以管理層幾乎將所有的公司盈餘都用於對外投資。但，這樣的投資方式最終導致了 Sanborn 投資業務不斷擴大，公司主營的地圖業務反而逐步萎縮的情況。巴菲特在投資 Sanborn 時，是有深入研究過財務報告的，他發現僅僅是公司的投資組合資金就達到了65美元/股，這還不包括它的地圖業務價值。而 Sanborn 公司當時的股價僅爲 45 美元/股。他判斷：買入這家公司股票相當於是撿了一個大便宜。因此，巴菲特在1958年，1959年兩年的時間之內，不斷累計該公司籌碼買入大量股票，最終以 35%的股權進入 Sanborn 併

Hello, friend!Welcome to the 《FCN Investment Course》，This course is divided into four sections. In the first section, we will provide an introduction to the basic concepts of FCN, helping you understand its fundamental principles and advantages.The second section will compare FCN with other financial products, giving you a clearer understanding of the suitability of each type of financial product.The third section will use case studies to calculate the risks and returns of FCN, providing you with a clearer understanding of the product's risk and return, and facilitating a transition from entry-level to advanced knowledge.In the fourth section, we mainly teach you how to trade FCN products on Tiger APP.Let's start with the basic concepts of FCN.1.What is FCN?The exact nature of Fixed coupon

Bull market:The bulls charge forward when they attack, pinning their target firmly with their horns and throwing them high, similar to a rising market.In such a market, stock prices show a long-term trend of rising. At the same time, for a longer period, the rise is larger, and the fall is smaller.Bear market：Bears attack by slapping their PAWS from top to bottom, or by leaning over and ramming opponents, similar to what happens when markets fall.In such a market, stock prices show a long-term downward trend, and the duration is longer, the decline is larger, and the rise is smaller.Strictly speaking, there is no clear distinction between bull and bear market indicators, generally as a description of the market trend of the concept.Some research institutions define a market downturn of mor

The Purchasing Managers' Index, or PMI, includes the manufacturing PMI and the services PMI.The PMI is a comprehensive snapshot of the overall US manufacturing sector, employment and price performance are among the most closely watched economic data in the world. At present, PMI has become a macroeconomic monitoring index system for international counterparts and plays an important role in monitoring and forecasting national economic activities.The PMI is based on a monthly survey of purchasing managers at companies. The index ranges from 0 to 100 %, with 50 % called the "market boom/bust score." A PMI reading above 50 % indicates expansion in the sector; conversely, anything less than 50 % indicates contraction.Simply put, the PMI is a proxy for companies' willingness to buy materials and

An ETF is an exchange-traded fund, a type of fund that is listed on an exchange and has a variable portion of the fund. Generally, an ETF is an index fund that invests passively by tracking all or part of the securities that make up an index according to the types and proportions of the securities that make up the index. Its trading hours are more flexible than those of other funds, so it can be traded during business hours just like stocks. An ETF is an index fund that tracks an index or an industry.An example: The S&P 500ETF (SPY) The S&P 500 ETF is a fund that tracks the S&P 500 Index of the United States. In other words: When the S&P 500 goes up, it goes up; when the S&P 500 goes down, it goes down with it. You can sear

Hey, tigers!US Stock Financial Statements for BeginnersToday is our 9th day of "Learn US financial statements". In this article, I mainly introduce: finding the value of a company.In our previous articles, we've learned how to use financial statements to select the highest quality leading stocks. But many of us still run into problems in practice.Suppose you're very optimistic about a stock. You've done detailed research on the financial statements and the company's business model. The financial data is good and there's no reputational risk in the short term, but the stock price just keeps falling.Or take another example. A company's financial statements and the stock fundamentals are impeccable. The stock price i

Hey, tigers：Review: US Stock Financial Statements for BeginnersToday is our seventh day of "Learn US financial statements".In this article, I mainly introduce: the main industry sectors of US stocks.Those of you with investment experience will know that there are two steps to invest in stocks: selection and trading.To put it simply, we can select high-quality stocks based on the company's financial statements, and then trade the stocks in the market to earn earnings.So how to pick good stocks?The answer is: we must first understand the high-quality industry; In high quality industry shares, you will greatly increase the winning probability.Therefore, in this article today, we will mainly talk