Daily commentary-每日见闻-2024.3.6 Global environment:Politics:US: internally US is focusing on preparing for the president election.  This means each party will find a way to frustrate the other parties bills or acts. Internationally, US is supporting Ukraine and Israel to fight against Russia and Hamas. US is making allies with EU and Asia countries to strengthen its power globally.China: internally China is holidng the national representative meetings in beijing. So locally, it is seeking peaceful environment to hold the national reprsentative meeting. Most things would under close monitor during this period. Internationally, China is building close ties with EU and Asia countries to enlarge its business partners and political friends. Depending on internal and international situation, China may rebuild the relationship with US if needed.EU: internally EU is dealing with political pressure from high inflation and worse living standards. Internationally, EU is allied with US to smash the threats from Russia and China.Economics:US:internally US economy is quite strong indicated by low unemployment rates and strong consumer spendings. As long as the umemployment keep at records low, consumer spending would be strong. Consumer spending accounted for about 70% of the total GDP. So we haven't seen how this economy boom would end in near future. Internationally, demands for US goods keep growing. While imports are declining slowly due to government's efforts on move manufactures back to US. So overall, we would see a strong US economy in short term.China:internally China is suffering from high unemployment ratio due to crash of several industry and government's scrunities on others industries. The high unemployements lead to low consumer spending. Lack of confidence lead to reducing investments from enterprise. While the government spending is capped by skyrocketing debts outstanding during the covid period. Make it worse is that chinese population is decreasing. So chinese residences total demand is declining in short term. Loose monetary policy and loose fiscal policy are needed to stimulate the local economy.EU:internally EU is badly hurt by energy crisis, households are cutting their expenses greatly. Internationally energy crisis and hug subsidies from other countries handicapped the EU exports.Culture:US: US is still engaged with pop culture which helps people to enjoy their lifes.China: Chinese youth are enjoying the lying flat culture, and lowered their expectation gradually.

Daily commentary-每日见闻-2024.2.29 Global environment:Economy:US: US is between the late expansion and the slowing down stage. Interest rate peaked. Fiscal spending peaked. Fixed income price bottomed. Equity price peaked. Inflationn is peaked.China: China is between recession and initial recovery stage. Inflation is bottomed. Interest rate is peaked. Government is using positive fiscal policy and positive monetory policy. Trading strategy:long commodities

Principle of universe-宇宙的原则-2024.2.17 If you want something, you would better to make a plan and work hard on the plan. Then you may achieve your goal.

Daily commentary-每日见闻-2024.2.16 According to CFA, the whole investment process could be investment process could be top down or bottom up. The purpose of invesment is differ according to different investors. Investors could be devided into two category: individual , institution investors. The main purpose of investment include : achieve extrodinary return and control the risk within certain range.Best investment would be the one fit the investor best. From the top down approach, after done with client KYC, you should write the Investment Proposal Statement for client. Then you should prepare the Capital Market Expectation and decide the strategic asset allocation. After we have the Strategic Asset Allocation. We focus on on build the investment portfolio. As we have clear view on long term market expectation and short term expectation, we could have Tactical Asset Allocation which deviate in short term from Strategic Asset Allocation to take advantage of market opportunities. Then we choose individual investments within each asset class. Then we build a portfolio that refects the asset allocation strategy and security selection. We need to regularly reviewing the portfolio's performance against benchmarks and rebalancing to maintain the desired asset allocation. Last we need to adjust the investment policy stratement and asset allocation as the client's objectives and constrains change over time.For example, we are doing asset allocation for a 42 yrs old professional. First we need to calculate his net wealth and potential financial needs.

Daily commentary-每日见闻-2024.1.26 Global environments:Cycles:Display industry: the display industry is driven by the needs people for big and better display. This demands will not shrink until economic crisis happen.