Snowball Special Issue 050: "12 Ways to Make Money"

Chapter 6 Harvest 2014, Gratitude 2014
唐朝，个人投资者，发表时间：2014-12-28，下载雪球APP：http：//xueqiu.com/r/2YviQn；原文链接：http：//xueqiu.com/8290096439/34585973
Taking advantage of my free time today, I wrote a summary, so as not to pile up on Wednesday.It's a bit long, so it's divided into two posts, the link to the last one: http://xueqiu.com/8290096439/34585825
The fourth achievement of 2014 reading

Lao Tang read books, and reading itself is the purpose of reading.There is no special field, which belongs to omnivores: novels, history, finance, business, finance, philosophy, psychology, economics, investment... catch whatever you want.And the reading speed is very fast, easy to read without asking for deep understanding.

Nowadays, there are fewer and fewer people buying paper books. Most of the reading is moved to Duokan Reading and Kindle. The advantage is that it is convenient to take notes (it is convenient to carry this, for nerds, I don’t feel it), and the disadvantage is that it takes a lot of eyes. .In addition, I use Foxit Reader to read the financial report on the iPad at the same time, so my eyes are even harder to use.I want to change to a kindle with an electronic ink screen. The screen is too small to read PDF files, so I have to bear with it.

This year, because of the delay in writing a book, I have read less, and the general state is as shown in the picture below:
Recommend a few books for you to enjoy during the Chinese New Year: For those who like to read investment books, "The Simplest Thing to Invest" by Qiu Guolu is quite good; If you are interested in cultivating your sentiment, "Jiang Xun Says Song Ci" is a very comfortable reading material.

@自由老木 I hope I can recommend a few investment-related books that I have read. Old Tang makes sense, and chooses the must-read, important, and easy-to-understand books first, and lists them below:
1. "The Intelligent Investor" (by Graham).It was Graham who made stock investing less of a gamble.This book is a must-read for investment and the "way" of investment. The books recommended below are all based on the cornerstone of this book.After reading this book, understanding the two concepts of "stocks represent a part of the enterprise" and "Mr. Market" is what everyone who is responsible for his own money should do.The focus is on Chapter 8 and Chapter 20.

2. "The Simplest Thing in Investing" (by Qiu Guolu).The reasoning of this article is simple and straightforward. Combined with China's practice, it shares the author's experience from various aspects such as investment philosophy, methods, systems, risks, etc. Although there are some views in it, Lao Tang does not fully agree with it, but it is really a good book .

3. "The Most Important Thing in Investing" (by Howard Marks), the subtitle is "Advice from Top Value Investors", and Buffett's recommendation is "This is a rare and useful book".It is also the bedside book of many masters in Snowball.You can figure it out.

4. "True Rules of the Stock Market" (by Pat Dorsey), subtitled "Investment Scriptures of the World's Top Rating Agencies", mainly focuses on the "techniques" of specific operations, which can be used at hand.

5. "Buffett's Letter to Shareholders - A Course for Joint Stock Companies" (by Lawrence A. Cunningham), this is the essence of Buffett's letters to shareholders over the years sorted out (reminder, pay attention to the author's name, it is called similar to the title of the book) , there is also a "essential version" added to this garbage book, don't buy it wrong).If you have time, I suggest you read the original text of Buffett’s letter to shareholders after reading it. A friend in Xueqiu has shared the Chinese-English version of all letters to shareholders from 1957 to 2013. The download link is here:

http://xueqiu.com/3815464690/23742523
6. "Buffett's Moat" (written by the author of the real rules of the stock market), the original English title has nothing to do with Buffett's dime, and it has a Chinese name that is sensational.But the book is really good, a thin book, which elaborates on the moat theory in detail.

7. "The Fog of Omaha" (co-authored by Zhu Xiaoyun and Ren Junjie), one of the best books explaining Buffett's thoughts in China.Two authors are on the snowball: Yun Xiaoshu and Renjunjie.It is said that I encountered an unscrupulous publishing house, accepted the manuscript, and ignored the author.depressed.I hope Teacher Ren will publish a new book soon.

8. "The Way to Advance the Stock Market" (written by Li Jie), the author is also on the snowball: crystal fly swatter.The strength of this book is that it is comprehensive.It covers almost all the basic knowledge related to investment theory that a retail investor who has just entered the market should know. It is really "a retail investor's self-cultivation" as the subtitle says.

9. I will teach you how to read the financial report (Tang Chao) without explanation.You can’t even understand the financial report. You say you are engaged in investment and speculation. Don’t lie to yourself. You don’t even know what you are buying and selling. Use your own money to create good "opportunities" for others to get rich.

Investing in Fifth Outcomes

There is nothing to say about investment this year. Anyway, when the wind blows, everyone will fly together.Those like Old Tang, who followed the rising water and barely flapped their wings a few times, have gained 28% as of today (59th), which is only 10 percentage points higher than the market average, which is basically not worth mentioning.

There is basically no operation: at the beginning of the year, it was 47% Moutai, 25% Merchants, 17% Minsheng, and 11% Laojiao.

The whole year is: the dividends in the first half of the year have been withdrawn;

The dividends in the second half of the year jumped around on BOC Convertible Bonds, Conch Cement, and Gold Mantis, and finally fell on SDIC Power;
On the day when Minsheng’s employee stock ownership plan came out and fell sharply, about 4% of Laojiao was exchanged for Minsheng at a little over 6 yuan;

The last remaining old cellar was also added to the water and electricity stocks after the warehouse was cleared.

The positions that move throughout the year account for less than [-]%, and other holdings have not changed until today.

After the new version of Xueqiu came out, in order to make it easier for me to know the changes in net worth without entering the trading software, I built a real portfolio. So far, I can barely beat the Shanghai and Shenzhen 300 Index by 5 percentage points, which is nothing to write home about.

If there is nothing good to report, then there is nothing good to report on it. Fortunately, Lao Tang doesn't worry about these stocks anyway, and I don't feel surprised if they double again, and I won't be cautious.Although I know that before leaving the market, it is all fictitious wealth, but looking at the growth of the market value, the increase in wealth this year is more than the sum of the money earned by Lao Tang from birth to 30 years old, which is also a happy thing.Count it as a gain.Thank the bull market for the wind, thank Guo Jia for the party.

(End of this chapter)