Enhancing one's skills in the US stock market With the help of crayfish these days, silly brother has been quickly reading stock research reports Seize the bear market and enhance your skills in the US stock market I can't escape. Brother Silly has been watching the Seven sisters of American Stock Exchange and Zhonggai these days. Have some insights. Study the levels of stocks: 1. Understand financial reports and valuations; This is an arithmetic problem Apple, a company that sells hardware, has a gross profit of 44%, And Tesla is 18%, BYD is just over 20% Google and Tencent, this software platform, account for about 60% Apple is truly amazing, having achieved such a high gross profit by playing with hardware This also explains why Apple doesn't make cars: Apple doesn't make cars, making cars is not a good business compared to Apple's existing business 2. And from this arithmetic perspective, there are overestimates and underestimations. Tencent 14 times PE Google 25 times PE Apple 30 times PE Tesla 300 times PE Negative PE of Circle Why? Because business has its ups and downs Understand good business Understand the moat Understanding Capital Returns Because the potential for the future is different Understand the slope of revenue 3. The domestic Internet giants as a whole are significantly worse than the seven sisters Because the market for food is small, there is poor network effect There is not enough network effect, nor can we continue to incubate innovation in high density like the Seven sisters The only thing worth mentioning is PDD, which is surprisingly cheap from the financial report Good business can be bought at 30 times Pe How to explain why PDD PE is only 8? The suppression of Chinese concepts and the backwardness of the AI era? Not sufficient Therefore, many analysts believe that PDD underestimates.