Month: April 2018

家用电器

问题：

  1. 还有哪几家厂生产空调？
  2. 为什么电视机不能像空调一样有利润？
  3. 以前的春兰空调是怎么倒闭的？
  4. 空调的海外市场有哪些竞争对手？
  5. 有哪些小家电是有利可图的？
  6. 大金空调的技术优势？
  7. 我家的空调是什么牌子？

品类

  1. 空调。
  2. 冰箱
  3. 洗衣机
  4. 厨电。
  5. 油烟机。
  6. 烘烤炉。

Investment Portfolio Check List

  1. Great Business：60-70%
    1. Understandable
    2. Moat: durable competitive strengths
    3. able and high-grade management
    4. 厚厚的雪: good returns on the net tangible assets required to operate the business
    5. 长长的坡: opportunities for internal growth at attractive returns
    6. at a fair price
  2. Cigar Butt：20%
  3. Momentum，news，high Tech： 10%
  4. Cash Level：
    1. market depression: <0 or 0 [borrow less than 30%]
    2. P/E above average X%: X/2%
    3. No good investments: prepare the washtubs
  5. Sell points
    1. Great businesses: sell 50% when the valuation is 50% (30% for 20%); or move around
    2. Cigar Butt: sell all when its price reaches fair value.
    3. Momentum: depends on conditions; flexible, adjust frequently
  6. Prepare the washtubs
    1. Bonds
    2. Real estate
  7. Circle of competence [能力圈]
    1. 电器[格力，美的，老板，苏泊尔]
    2. 白酒[]
    3. 游戏[]
    4. 保险[?]
    5. 银行[?]
    6. 医药[?]