First, no matter how good a stock is, it must be sold when it rises. It is the apprentice who will buy it, and the master who will sell it.
Buffett sold PetroChina around 13 yuan that year, and was ridiculed by many people because he continued to rise to 20 after selling it. Now PetroChina 3.5. If he never sells, his investment performance in my country will be 4 times in 20 years, not 300 times in 20 years.
Second, it is too easy to make money in the Chinese stock market. Lots of money, stupid people.
In 2002, 72-year-old Buffett bought PetroChina at a price-earnings ratio of 5 times and a price-to-book ratio of 1, with a dividend rate of 8% that year. In 2007, 77-year-old Buffett sold PetroChina at around 13 yuan and earned 8 times in 4 years. At that time, PetroChina had a price-earnings ratio of 20 times.
In 2008, 78-year-old Buffett bought Hong Kong stock BYD at a price-earnings ratio of 5 times and a price-to-book ratio of 1. At that time, BYD’s annual profit was nearly 3 billion and the market value was more than 10 billion. It is the leader in the electric vehicle market of several trillions in the future, the first manufacturer of large-scale production of electric vehicle batteries in China, and the leader of the small but powerful Chaoyang industry. In 2009, BYD rose to 88 a year later. Later, Barclays bought BYD at 72, a set of ten years, until 2022, after BYD broke the previous high, it rose to more than 300 yuan, and Buffett earned fourteen years. Ten times sold to Citibank. Buffett has made more than 300 times his investment in China for 20 years. BYD has a price-earnings ratio of more than 200 times and a price-to-book ratio of 10 times after it went up to 300 yuan. Countless investors are optimistic, and a large amount of capital pours in, which is called value investment. The human psychology of conformity, and how terrifying and how cute it is to buy expensive or not to buy cheap. Obviously, many good companies do not buy at five times, seven times, and ten times earnings. They have to rush to buy at 100 times earnings and 10 times earnings, and then call it long-term holdings. After a long time of losing money, they start to criticize the market for not making money. Opportunities, and it is also claimed that Buffett cannot invest in value when he comes to China. In fact, Buffett has earned more than 300 times from you. Kweichow Moutai, Wuliangye, Baiyunshan, BYD, Yili Co., Ltd., Shanxi Fenjiu, Gujinggongjiu, Jiuguijiu, Tongrentang Technology, these big bull stocks have so many opportunities in the history of 10 times the price-earnings ratio and 2 times the price-book ratio. 40 times the price-earnings ratio or even 100 times the price-earnings ratio to buy. Buffett buys BYD at five times the price-earnings ratio, and Linyuan buys Kweichow Moutai at ten times the price-earnings ratio is called value investment.
From the age of 72 to 92, Buffett invested in China for 20 years, took a short position for one year, and held shares for 19 years. He only made two stocks and earned more than 300 times. We are nowhere near 72 years old. We are 92 years old and have 2 to 3 20 years left. We still have 2 to 3 chances to make 300 times in 20 years. The premise is to stop doing stupid things, stop taking orders from high market positions, buy future sunrise industries, small but strong big track leaders, and want 20 billion market value to buy and sell trillions of market value in the future, not a stock that has been sold in the past ten years. It has risen dozens of times and has a market value of hundreds of billions of dollars.
$Baiyunshan(SH600332)$ $BYD(SZ002594)$ $Ningde Times(SZ300750)$
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