Good evening, brothers!
Investment knowledge sharing from the veteran members of the Yifan private group:
In his letter to shareholders in 1985, Buffett wrote: "From 1973 to 1974, the Washington Post performed well, which caused its intrinsic value to continue to increase. Nevertheless, the market value of our holdings decreased from the original cost of $10.6 million to $8 million, a reduction of 25%."
When Buffett bought the Washington Post in 1973, the company's intrinsic value was between $400 million and $500 million, but the market price at that time was only $80 million, essentially selling at a two-fold discount. In such a situation, can we expect an immediate rise after the purchase?
Not at all. The stock was already undervalued, yet a year later, the "wise" Mr. Market not only failed to push its price towards a return to value but also caused it to continue to plummet by a quarter. If there had been the internet back then, I believe irrational netizens would not have shown any mercy towards Buffett.
……
The unexpected surge in the U.S. Producer Price Index (PPI) in July has brought new inflation signals to the market, but major Wall Street analysis firms believe this data is unlikely to shake the Federal Reserve's upcoming interest rate cut decision.
The latest data shows that the U.S. July PPI rose by 0.9% month-on-month, with the core PPI excluding food and energy also recording the same increase, far exceeding market expectations. Another core indicator excluding trade services also rose by 0.6%, similarly stronger than expected.
BTC: On the 4-hour level, the price continues to stay below the middle band of the Bollinger Bands, showing a weak price trend.
On the daily level, the price continues to oscillate near the moving averages.
In summary, the support level is 118800, and the resistance level is 119100.
ETH: On the 4-hour level, the price continues to stay above the middle band of the Bollinger Bands, with the price trend still oscillating, support level at 4620, and resistance level at 4650.
LTC: The price continues to stay below the middle band of the Bollinger Bands, showing a weak price trend, support level at 116, and resistance level at 124.
BCH: The price continues to stay below the middle band of the Bollinger Bands, showing a weak price trend, support level at 580, and resistance level at 610.
That's all for now, good night!
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