Patriarch Wuxiang was born in Datong City, Shanxi Province. 98% of GDP basically revolves around the coal industry chain, and the outside world calls it “Coal Capital”.
This fourth-tier city is very ordinary, and life pressure is not great. However, after the stock market crash in 2015, hot money first came out of the stock market and then into the real estate. The price soared from 3,500 yuan to the highest average price of nearly 7,000 yuan, and it was even 10,000 yuan near the school district. At that time, anyone who bought a house, regardless of the location, made money, including stocks.
After the outbreak of the epidemic at the end of 2019, at the worst time, my city was not blocked on a large scale. Under the influence, my city finally experienced what a large-scale lockdown is. The streets were empty, and all the shops were closed. This was the first time I saw it with my own eyes.
This epidemic has made me more aware of the importance of cash flow. It makes sense to think of why Li Ka-shing and Buffett value cash flow so much. Some things can only be truly understood if you experience them personally.
Later, after the epidemic was released, I saw that my city had returned to the way it was before 2019. There were people coming and going on the streets, no fear of the cold winter, and the traffic was heavy and overwhelmed. I suddenly sighed that in the past three years, big consumption may be the asset that many investors have lost the most. Liquor has plummeted, food has been cut in half, catering has been suspended, and travel restrictions have been imposed. But I am not pessimistic, because the epidemic is temporary and will always pass. If you don’t buy when the big consumption is the most difficult, when should you wait?
As the Spring Festival approached, the wedding banquets of friends around me were postponed because of the epidemic; the party scenes of friends in two or three were damaged because of the epidemic; I wanted to travel, but they were all behind because of the epidemic; as for street food, all closed. But now it’s different. They started notifying me of re-organizing wedding banquets after the festival, invited me to get together for a drink, planned a self-driving trip to Hainan, street food and fireworks, shopping malls filled with gold and silver jewelry, and various Chinese New Year programs organized by the government were staged one after another. The familiar taste that people depend on food for heaven is back. ![[满仓]](http://assets.imedao.com/ugc/images/face/emoji_43_add.png "[full position]"){kind=small}
In 2023, Patriarch will continue to watch how big the consumption is, especially liquor. The cash flow it continuously generates is extremely valuable, and I believe it will reach new highs again. In the past three years, the long-suppressed consumer demand is bound to be released, and the upgrading of residents’ consumption will not be stagnated due to the epidemic. The ancestors will continue to slowly snowball in the track of big consumption. ![[涨]](http://assets.imedao.com/ugc/images/face/emoji_56_increase.png "[rise]"){kind=small}
#2023Spring Festival Research Insights#
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