Just look at the results:
As of the end of 2022, I have been investing for almost 10 years. 2022 is the first time that I have lost money for 2 consecutive years. After losing 1% in 2021, this year’s yield is -5.6%, which is 6% after rounding.
During the same period, the CSI 300 fell by 22% for the whole year, and my personal performance exceeded the index by 16 percentage points. This is the eighth consecutive year since 2015 that I have outperformed the index.
From a long-term perspective, it has been a total of 9.5 years since mid-2013. During this period, the annualized rate of return calculated by the XIRR formula of the personal account was 22%. During the same period, the annualized rate of return of the Shanghai-Shenzhen 300 was 4.8%, and the personal account outperformed the index by 18%. If the index includes dividends, it is estimated to outperform the index by 16%.
Regarding this result, from an emotional point of view, I am disappointed. After all, this is the first time I have lost money for two consecutive years. Although I outperformed the index, the absolute value is a loss. I lost about 7% in two years. For me Said that this amount of funds is already a lot of money.
From a rational point of view, I am still sure at present. On the one hand, most of the companies I buy are of good quality, and on the other hand, the buying prices are all reasonable or even underestimated. Finally, there is protection from my investment and trading system. In the long run, I think it will be a matter of time to make money.
Then look at the position situation:
Currently holding 10 companies, Fuyao’s proportion is negligible, and the top 5 positions account for 82%, which is still highly concentrated.
Compared with the end of the third quarter of 2022, Maotai, Tencent and China Merchants Bank have experienced significant position changes:
I did not trade Moutai, probably because of stock price fluctuations and additional investment in other companies, resulting in a decline in the proportion.
Tencent is mainly due to the significant increase in share price in the fourth quarter and the low price buying in the second half of the year. The former should be the main reason.
The increase in the proportion of China Merchants Bank is mainly due to the relatively large number of purchases and the obvious rise in stock prices.
If compared with the end of 2021, the positions of Gree, Tencent, China Merchants Bank, and Haikang have increased significantly. There are not only factors that have invested heavily in these companies this year, but also factors that have caused the company’s stock prices to rise (mainly Tencent and China Merchants Bank). .
At the same time, the proportion of Moutai and Luzhou Laojiao has dropped significantly due to no additional investment and stock price changes. Although the proportion of Moutai seems to have dropped significantly compared to the end of 2021, I have not actually changed the shareholding of Moutai.
Let’s take a look at the annual transactions:
In 2022, there will be 6 real transactions throughout the year, 5 companies are buying, and 1 is selling. Compared with last year, although the number of buying seems to have increased significantly, some of them are multi-account buying operation.
In terms of actual net investment, it is similar to last year and slightly higher than last year. The amount of investment in the past two years is several times that of the previous years.
Next, let’s talk about my future trading plan. The picture of the previous position is divided into 2 types of companies according to the color of the shading:
The 6 companies whose shading is green – Moutai, Laojiao, Tencent, Gree, Hikvision, and China Merchants Bank. I will continue to buy when the stock price is reasonable. If the stock price is significantly overvalued, I will gradually sell.
There are 5 companies with yellow and red shading—Vanke, Shuanghui, Fuyao, Luthai, and Wanzhou. They are marked in different colors because I have different judgments on their textures. Yellow is better, but in the follow-up There will be no significant difference in the trading plan, I will not buy any more of these two types of companies, and will sell when the stock price is reasonable.
From now until the end of April next year, what I have to do is to continue to execute according to the established trading plan, and then when the annual reports of each company come out one after another, I will conduct a new round of inspections on them and synchronize them. Make your own trading plan for the next year.
That’s about all the content of investment. There are already a lot of explanations that should be said, so I won’t repeat them. It’s all about that.
If you are a new reader, reply to the investment system in the background of my XX (villike’s financial freedom notes), and read that article carefully, basically my system is there.
Then, I want to chat with my friends about this year. Readers who only want to see investment results don’t need to look back, it’s gone.
I’m really having a hard time this year.
I am 34 years old this year. In the workplace in first-tier cities, this is a delicate age. I am still groping and thinking about how to go about my future career.
I work in the management consulting industry. Under the situation this year, clients are also having a hard time, and when it is reflected in our industry, it will be even worse.
When it comes to investing, you have already seen that, although there are things like “Looking at Barabara in the long run”, I can’t be calm forever, and I will have doubts about myself. After all, I am just an ordinary person.
There is also the sharing of the official account. You can also see the popularity of the article now. Starting from the second half of 2021, it has almost been in a state of decline.
Yes, I know the amount of reading is not important, but if fewer and fewer people read, where should I find reasons to be more and more happy?
In addition to these, there are also some trivial problems in life, some problems that middle-aged people gradually carry on their backs, and it is difficult to unload them. They are very trivial and complicated, but none of them are fake.
Well, allow yourself to be depressed for a while and complain so much, let me talk about the things that are worth being happy this year.
First of all, I and my family are still in good health this year. My mother had a major surgery last year, but she is recovering well this year. The recent new crown epidemic has not caused any serious problems to my family members.
I am still yin so far, please call me the shepherd at the foot of the yin mountain, haha~
And the relationship with my family is still very good, my wife is still as beautiful as ever and loves life, and also brings a sunny attitude to me who is reserved, which is a precious asset to me.
Maybe because I am getting older, my relationship with my parents and younger sister has become more and more warm. It feels like a family love, which is very good.
My son looks different every day. Recently, because everyone else is in the sun, I take him to sleep together. I sleep on the upper bunk and he sleeps on the lower bunk. Every night, I tell a story before going to bed, and then turn off the lights to chat. Only the 5-year-old boy will be quiet. Quietly listening to me talking about living in the village when I was a child and moving to the county seat, from primary school to university, from graduate school to my coming to Shenzhen, for a moment, I felt that my son has become an adult, and father and son have become brothers for many years .
In terms of work, there are no major problems, and it is basically considered qualified. I have also reflected on many ways to work better, and I am also making some improvements.
Although the investment has a lot of negative feelings mentioned above, it is fair to say that it has outperformed the index for 8 consecutive years and the annualized rate of return of 22% is really not too hypocritical.
Regarding investment, one of the major gains this year is that my system has been greatly improved. The backstage replied to Duan Yongping and Buffett, my reading experience of “Duan Yongping Investment Questions and Answers” written this year, and the reading experience of the Berkshire Shareholders’ Meeting Record. What you miss is a loss.
In terms of sharing, I am actually very proud. Starting from the second half of 2020, I have set myself a principle. Every original article (including this one) begins with “A Letter to All My Readers”. I have fulfilled the written promise almost verbatim.
If you haven’t read that letter, please read this article, and be sure to read that letter. Everything written in it is useful to you.
In terms of sharing, what makes me happy is that those who often leave messages are already “regular customers” here. Every time I see you, I feel as happy as seeing old friends in reality. This feeling is really great.
In general, this year is really difficult for me, but what makes me satisfied is that I didn’t make any big mistakes, and I did a few good things in general. Next, I think I can give myself 70 points.
Next year, I have a few plans:
The first one is to continue to explore the road ahead, hoping to find my own direction as soon as possible.
The second one is to read, think, invest, and continue to share my gains, ideas and transactions with you.
The third is to adjust the state, find some fun, and make life more interesting and interesting.
To be honest, I started this article at the end of November, looking forward to it for a month, thinking about writing a lot of things, but I was speechless when I picked up the pen, emotions came and went, and I was still the same me, the me who did not forget the original intention, Simply write so much, and leave the rest to time.
In the past year, thank you for your company, I feel very warm. In the new year, if we can continue to move forward hand in hand, it will be a great satisfaction for me.
Happy New Years Day everyone! See you in 2023!
@今日话话#2022Investment Summary# $S&P 500 Index (.INX)$ $Hang Seng Index (HKHSI)$ $Shanghai Composite Index (SH000001)$
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