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"Investment Lesson 1" 16 Questions: My Answers

"Investment Lesson 1" uses 16 questions to answer common questions for novice investors. From an investor's perspective, it objectively presents the results, explains the process, and uses the right strategies. It is a good investment science book.

Luckin turns on Hard mode

Luckin is the second Wandian company in the Chinese beverage chain, the first being Mixue Bingcheng + Lucky Coffee. At the same time, Luckin and Cudi recently started a new round of fighting. These two incidents represent the beginning of the second wave of elimination for coffee brands.

Consumer chain: franchise vs. direct operation

Chain catering: the appropriate boundary between direct operation and franchising. In essence, they are all ways of opening a store and acquiring customers. No one is more advanced than anyone else. It is mainly in line with the company's strategy and goals.

Investment in the consumer chain industry: framework, risks, indicators (attached: coffee chain)

Regarding the investment framework, methodology and risk points of the consumer chain industry. The consumer chain is a common industry that we usually see, such as McDonald's, KFC, milk tea shops, coffee shops, etc. Many of them are actually consumer businesses.

Learning "valuation": book list, methods, cases

3 books from Columbia University's School of Value Investing, "Competitive Advantage", "Value Investing: The No. 1 Investment Rule from Graham to Buffett" and "Advanced Guide for Securities Analysts"

Three common pitfalls for novice investment researchers

Three big pitfalls for novice investment researchers. Pitfall 1: Should the report be objective or subjective? Pitfall 2: Research is research, not investment decision. Pitfall 3: Don’t give a summary, but give the main story line.