From 2010 to 2018, the well-known investor Dong Baozhen held a heavy position in Kweichow Moutai and experienced ups and downs in the investment process. During this period, he wrote millions of words of articles, recording his fundamental analysis of Kweichow Moutai and the Chinese liquor industry, and also recording his understanding and thinking as a value investor. <Br />After 2018, Kweichow Moutai emerged from the extreme underestimation that was completely denied and rose nearly 10 times. Many investors hope to review this classic investment case. This book selects some of Dong Baozhen's articles. The issues discussed in these articles are essential and not timely. They have practical significance and reference value in the past, present and future, including the laws of China's liquor industry, the pricing mechanism of China's high-end liquor, and the principles of price competition in the liquor industry. <Br />In addition, as a person who has experienced the Moutai Great Game, Dong Baozhen deeply understands that investment is a cognitive game on the surface, but a human game in essence. From the generation of investment opportunities to the transformation into real wealth, this process revolves around cognitive games and is very tortuous and difficult. This book also faithfully records Dong Baozhen's mental journey during this period.
Reader comments
His analysis and thinking gave me a deeper understanding of value investing. This reminds me of Buffett's Letters to Shareholders, both of which emphasize the importance of fundamental analysis and long-term investing. Moreover, the author also has a profound insight into the game of human nature in the book, which coincides with the views in "Poor Charlie's Almanac". All in all, this is a great book worth reading!
Overall, it's okay. The text is a bit complicated. Some of the ideas are still valuable. Just don't believe in all the books. It's better to have no books at all. Just understand the essence of it that you recognize, at least the real experience of others.
His analysis and thinking gave me a deeper understanding of value investing. This reminds me of Buffett's Letters to Shareholders, both of which emphasize the importance of fundamental analysis and long-term investing. Moreover, the author also has a profound insight into the game of human nature in the book, which coincides with the views in "Poor Charlie's Almanac". All in all, this is a great book worth reading!
Overall, it's okay. The text is a bit complicated. Some of the ideas are still valuable. Just don't believe in all the books. It's better to have no books at all. Just understand the essence of it that you recognize, at least the real experience of others.