Good evening, brothers!
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 equivalent to a 20% discount. In such a situation, can we expect an immediate rise after buying?
Not at all. The stock, which was already undervalued, surprisingly saw the "wise" Mr. Market not only fail to push its price towards a return to value but also cause it to continue to plummet by a quarter a year later. If there had been the internet back then, I believe irrational netizens would not have shown any mercy towards Buffett.
For individual stocks, being further undervalued after being undervalued is a norm. Otherwise, how could we say Mr. Market is "mad"? Therefore, we should not use short-term funds to participate in stock investments, nor should we "single out" a single stock. These principles may seem like simple common sense, but they are indeed ironclad rules of investing.
If an investment reaches the conditions for buying and successfully builds a position, and the price continues to pull back, I think this is Mr. Market offering them cheap chips.
……
The "war for talent" on Wall Street has escalated, with JPMorgan aggressively poaching from its competitors.
On Sunday, the Financial Times cited sources saying that since early last year, JPMorgan has successfully recruited about 100 managing directors from competitors like Goldman Sachs and Citigroup. This round of aggressive hiring is quite timely.
Reports indicate that the scale of this recruitment significantly exceeds previous years. In the past 12 months, the number of managing directors brought into JPMorgan's global banking division has even surpassed the total from the previous decade. One insider stated:
"We have been quietly hiring across major institutions, and the recruitment is still ongoing."
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 be suppressed by multiple moving averages, showing a weak price trend.
In summary, the support level is 108200, and the resistance level is 108600.
ETH: On the 4-hour level, the price continues to stay above the middle band of the Bollinger Bands, showing a healthy price trend, with a support level of 4430 and a resistance level of 4460.
LTC: The price continues to oscillate near the middle band of the Bollinger Bands, with a support level of 109 and a resistance level of 112.
BCH: The price continues to stay above the middle band of the Bollinger Bands, showing a healthy price trend, with a support level of 540 and a resistance level of 560.
That's all for now, good night!
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
