#Investor Message 2022 # Time into 2022, although the epidemic still has an impact on China's economy, but it is already within the foreseeable and controllable range, the domestic macro policy has been

#Investor's Message 2022#

Time into 2022, although the epidemic still has an impact on the mainland's economy, it is already within the foreseeable and controllable range, and the domestic macro policy has gone to normal. Recently, the US 10-year Treasury yield once exceeded 1.9%, which also means that the ultra-loose liquidity situation on a global scale is also on the way back to normal, although the market is still controversial about the number, frequency and magnitude of the Fed's interest rate hikes in 2022, but the economy is recovering, the epidemic is being effectively controlled, and macro policy is returning to normal should already be the consensus of investors. For the United States, the process of returning to normal monetary policy does not necessarily lead to the collapse of the US stock market, but I think it should be judged according to the recovery of the US microeconomy and the valuation of individual stocks, because the factors that dominate the overall trend of the market have also undergone fundamental changes.

The influence of macro factors such as crisis, macro policies and economic recovery will be further weakened in this year's global capital market trend, especially in China's capital market, macro factors have no longer become the most core factors dominating the capital market trend, investors should change course and return to the company's profitability, industry growth potential, valuation and other micro frameworks.

Buffett once said in an interview: "In the past 54 years of my career with Charlie, I have never made an investment decision because I am optimistic about the economic prospects for the next year or two, we will only make business forecasts based on the future performance of the company, selecting the good company is the key, and we will not cancel a transaction because the economy is in a deep trough." Peter Lynch is a very typical stock picker, during his tenure, he has invested in 15,000 stocks, compared to its more than 9 billion US dollars, he has successfully invested in many "ten years and ten times" stocks. From Peter Lynch's investment practice, in his active era, there were a large number of investment opportunities in the US stock market that were mispriced and undervalued.

2022 is likely to be the first year of post-pandemic economic normalization, and investors will need to revisit long-term investment opportunities rather than focusing too much on the impact of short-term events after the world economy and capital markets have been hit by the coronavirus that has gone down in history and ravaged the world. 2022 will also be a year of change in investment philosophy, and we should return to the logical framework of -- heavy individual stocks, light indexes.- Reconstruct the "bottom-up" investment logic with a "ten-fold ten-year" logical framework.

Where there are fish, snowball (consumer), mudslide (platform), hard technology and large cycles, four areas where investment opportunities are very likely to occur in "ten years and ten times" are more worthy of our attention. Investor Mind Map: Capturing Ten Times the Investment Opportunity in Ten Years" Author's Message 2022