Many people may not fully understand Maotai. In my opinion, Maotai is: culture, willfulness, circle, class, finance, it is the only wine that is not like wine! If you can’t understand this, naturally you can’t understand Maotai.
If you ask ten people on the street, at least eight people know about Tongrentang, but no one or two people have heard of Guangyuyuan. You say that Guangyuyuan’s Angong is better than Tongrentang’s Angong. The public will be anxious with you and think that You are fooling and talking nonsense. This is “public perception”.
And through careful research, you believe that Guangyuyuan’s ” four dishes and one soup ” is very solid, and the future of Guangyuyuan will definitely get better and better. This is called ” investor logic “.
There is always a difference between “public perception” and “investor logic” in the investment process. When we invest, we must learn to use logic to explain the rationality and irrationality of the market. When the market is inconsistent with our expectations, we should More to see if our logic is biased than to suspect that the market is wrong.
Tongrentang is doing very well at present, and it naturally has its inherent logic. Those with a high level will seize the opportunity and make arrangements in advance. People who invest in Guangyuyuan often look down on Tongrentang and think that Tongrentang is a piece of garbage. There is a difference between ” public perception and investor logic “. When there is a deviation between the public’s cognition and the logic of your investors, you can only tolerate, wait, suffer, and wait for the evolution of some potential energy to be finally accepted by the public!
Let me summarize Tongrentang’s investment logic in one sentence: “The short board is not short, the long board is super long, and the development of traditional Chinese medicine cannot surpass Tongrentang”.
Tongrentang is in line with public perception , while Guangyu is far in line with investor logic . This is the difference between the two.
To a certain extent, the difference between public perception and investor logic can be understood as “expected difference”. The greater the difference, the greater the flexibility of future targets, but the premise is: your investor logic is Reliable, this kind of logic can be gradually recognized by the public and transformed into public cognition!
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