2023 has been a challenging year for the stock market. From the beginning of the year to the end of the year, the market experienced many ups and downs, rising and falling. Under the pressure of factors such as the uncertain international environment, the slowdown in global economic growth, and the continuous interest rate hikes by the Federal Reserve, the core indices of the A-share market generally performed poorly, and major indices such as the Shanghai Composite Index, the Shenzhen Component Index, and the ChiNext all fell.
In the turmoil of the stock market, there is a fund that has successfully resisted the huge waves of the market and achieved remarkable performance growth by virtue of accurate market insight, stable investment strategy and excellent risk control ability, which is the Shanghai Determined Will Phase 1 All-weather Securities Investment Fund founded by Deng Mi. In the past year, the fund has achieved an excess return of about 40%, which is a strong performance among its peers.
"Investing is not a matter of chance"
Investment performance is the best proof that the company is firmly rooted in a complex market. Deng Mi sighed: "As experienced investors know, this is not a simple luck, it requires the ability to judge the macro situation, long-term accumulated experience and a deep understanding of the market. ”
Obviously, this logic has also been integrated into Deng Mi and continues to run through investment management. "On the road to investment, we always insist on selecting companies that can stand the test of the market and have long-term growth potential. In 2015, Deng Mi founded Shanghai Yiding Investment Management Co., Ltd., and established a comprehensive investment framework at the beginning of his career, which not only emphasizes long-term effective stock selection strategies, but also covers the skills to accurately grasp the timing of holdings.
In Deng Mi's view, the "bear market" is a period that tests the wisdom, patience and courage of investors, and only investors who are calm and adhere to value investment can have the last laugh in this market. "When the market is down, we focus on selecting companies with healthy cash flows and solid business models for long-term investments. This strategy allows us to effectively avoid companies that perform well during a bull market but are vulnerable to heavy blows in the market downturn or lack substantial support. By deploying these high-quality assets in advance, Deng Mi was able to find the possibility of growth in the adverse market. Especially during the "bear market", when other investors withdrew from other stocks, the money naturally flowed to high-quality companies carefully selected by Deng Mi.
In the "bear market", wait patiently and seize the opportunity of the rebound, in the "bull market", quickly adjust the strategy to capture the maximum gains in the rising market. Thanks to his accurate grasp of the market cycle, as well as his profound strength and rich experience, Deng Mi is able to capture fleeting investment opportunities in the complex and volatile market environment and create considerable value for investors.
Since the issuance of the first phase of Shanghai Determined All-weather Securities Investment Fund, Deng Mi has experienced many rounds of market tests with her keen investment vision and steady operation methods, and has always maintained excess returns on the market. So far, the cumulative excess return of the fund has reached an impressive 100%.
"Preference" of assets in the medical and consumer sectors
It not only pays attention to the macro situation, grasps the global economic context and trends, but also is good at digging into the intrinsic value and growth potential of enterprises from the micro level.
Investing in assets in the healthcare and consumer sectors has always been a strategic choice that has a deep investment logic.
"First of all, these two areas are often seen as more defensive asset classes, not only because of their relatively stable demand, but also because they have unique industry characteristics and competitive advantages, which make it easy to establish exclusive 'professional barriers' in terms of technological innovation, brand influence, consumer loyalty, etc., and secondly, these high-quality companies can not only generate stable independent cash flows, but also continue to show positive development in key financial indicators. Deng Mi said that some companies have achieved significant growth in revenue and net profit since the entry of the intended investment, while maintaining a good rate of return on capital. The steady performance of these companies not only proves that the choice of Yiding Investment is correct, but also further strengthens Deng Mi's confidence in long-term investment.
In the process of stock selection, Deng Mi creates stable and sustainable investment returns for investors through in-depth research, selection of targets and the use of auxiliary technical indicators. He is well aware that there are not many companies with real investment value and reasonable prices in the Chinese market, and after strict screening, Yiding Investment has carefully established a database of about 100 companies, and continuously tracks the dynamics of these companies to accurately grasp the investment opportunities.
In the investment process, Deng Mi also tends to quantify technical indicators such as KDJ or RSI as an auxiliary tool for stock selection. By combining fundamental and technical analysis, we can more comprehensively evaluate the value and future development trend of the company, so as to improve the accuracy and reliability of investment decisions.
Unlike other investment methods that may rely too much on artificial intelligence or quantitative strategies, Deng Mi adopts a comprehensive micro and macro investment approach, which enables him to start from the judgment of the overall situation, and to be accurate and forward-looking, so as to predict market trends more accurately. After just a few years of development, Yiding Investment has successfully achieved a management scale of hundreds of millions of yuan, demonstrating the effectiveness of its investment strategy and the excellent execution of its team.
But that's not the end. Deng Mi hopes to continue to incubate each investment project into the next growth point on the basis of replicating the successful model of the past through accurate judgment of new business models, find and grasp disruptive and high-growth investment opportunities, and once again stimulate scale fission.
In order to accelerate the realization of this goal, Yiding Investment decided to launch the second phase of the fund plan, through in-depth market research and relying on the professional capabilities of the team, to ensure that it can accurately grasp market trends, tap more potential opportunities, and create more value for investors.
Ten years of "butterfly change", planning a new layout of AI
"The second fund is not a simple replication of the strategy of the first fund, but an attempt full of challenges and opportunities based on an in-depth understanding of the market. Obviously, Deng Mi has a detailed plan for the second phase.
The success of the first phase is due to the use of defensive strategies and the robustness of market fluctuations, creating stable returns for investors. However, the market is constantly changing, and investor needs are constantly evolving. Therefore, the second phase of the investment will focus on companies that may achieve revenue explosions in the future, which is a more active and aggressive investment strategy. In Deng Mi's view, whether it is a defensive strategy that pursues steady growth or an offensive strategy that seeks rapid development, it has its rationality and can bring more generous returns to investors.
Compared with the first phase, the investment focus of the second phase of the fund has also changed. With the rapid development of science and technology, the field of artificial intelligence is ushering in unprecedented development opportunities, from improving infrastructure, to building large model systems, to achieving widespread applications, each stage is pregnant with huge investment opportunities. Deng Mi firmly believes that artificial intelligence will be the main development track in the next ten to twenty years.
"Just like the Internet, there are several key stages of development. At first, it was the infrastructure stage, which involved basic elements such as computing power, then it moved on to the stage of large-scale model systems, similar to Microsoft and Yahoo in the early days, and finally reached the application stage, which was widely used by companies such as Tencent and Alibaba. The scale of development at each stage will be several times larger than the previous one. At present, artificial intelligence is in the initial infrastructure stage, and it is the best time to make a layout. He said.
Focusing on artificial intelligence and its upstream and downstream, including energy, is not only a focus on current technologies and enterprises, but also an exploration of emerging industries with great potential in the next few years. "We need to find the best investment point in the field of artificial intelligence, such as technological breakthroughs, policy support, market demand, etc., to ensure that we can invest in the most potential and promising projects. At the same time, choosing the right position building strategy and sector rotation is also an important guarantee for achieving growth goals. We will flexibly adjust our portfolio according to market trends and industry developments to ensure that we can capture the most valuable investment opportunities at different stages. For the second phase of the intended investment, Deng Mi maintains a high degree of confidence.
Since its establishment in 2015, Yiding Investment is about to complete its first decade, and the launch of the second phase at this node is not only a milestone in the company's development process, but also a celebration of the glorious achievements in the past. Looking back on the past results, Deng Mi said, "I am very satisfied, especially in achieving excess returns. I look forward hopefully to many more in the coming decade. ”
He set himself a "small goal", that is, to expand the management scale to more than one billion in the next 3~5 years. "In an environment where many investment institutions and individual investors find it difficult to distinguish between the good and the bad, the clearly visible report card and steady development process have become our best business card. We have reason to believe that the company will be able to continue to grow and succeed in the market of the future. ”
Grind your fists and compete in long-distance running rally
The first step to achieving your goals is to "recruit".
Looking back three years ago, Yiding Investment also performed well, but Deng Mi did not consider expanding the investment team and investment scale. As the economic situation changes, especially in the context of the current volatile economic environment, both the private and mutual fund markets are facing challenges. Based on this, Yiding Investment has also made further adjustments and enhancements in the configuration of the team, which can not only improve the overall investment and research capabilities, but also respond positively to market changes and enterprise development needs.
Deng Mi is "strict" for the team's requirements, and he hopes to be "comprehensive" for professional ability. As a "veteran" with 30 years of investment experience, Deng Mi selects team members based on their deep industry knowledge, excellent market analysis skills, and good risk management awareness, as well as the ability to quickly adapt to market changes, make accurate judgments in a complex and volatile environment, and continue to be sensitive to emerging trends.
But Deng Mi also recognizes that successful fund managers often have their own strengths, some are good at solid defense, some prefer aggressive attack, and some can flexibly switch between attack and defense. However, being able to switch between different styles is not an easy task, and it requires deep market insight and a wealth of practical experience. Therefore, he believes that it is more practical to let different members focus on what they do best, and to achieve investment goals and diversity of styles through internal complementary cooperation.
Finally, for the future market trend that investors are particularly concerned about, Deng Mi also threw out a "heartstone". After combining analysis and predictions of geopolitics, monetary policy in advanced economies, endogenous economic growth momentum, and a number of key factors, he concluded, "Despite the uncertainties, I think the market will generally be on an upward trend." For the next three years, I believe there is at least eighty or ninety percent certainty that we can expect an upward bull market cycle. But it's important to stress that "these pricing bases are not set in stone." Changes in the macroeconomic environment are constant and complex, so it is important to constantly monitor the changes in the global economy in order to develop the best investment strategy. ”
Deng Mi firmly believes that the way to invest is to understand and grasp the market. "In the long-distance rally of investment, which tests endurance and wisdom, Yiding Investment always insists on doing the right thing in the long run. We will not be shaken by short-term market fluctuations, nor will we be lost by momentary gains and losses. ”
It is precisely under the prudent assessment of the market environment, the growing team and the continuous improvement of the investment and research system that Yiding Investment is full of confidence in the future development and goes further and more steadily on the road of investment, which is full of challenges and opportunities.