{"id":177,"date":"2010-01-10T06:52:34","date_gmt":"2010-01-10T10:52:34","guid":{"rendered":"https:\/\/blogs.transparent.com\/chinese\/?p=177"},"modified":"2010-01-10T06:52:34","modified_gmt":"2010-01-10T10:52:34","slug":"stock-picking-in-china","status":"publish","type":"post","link":"https:\/\/blogs.transparent.com\/chinese\/stock-picking-in-china\/","title":{"rendered":"Stock Picking in China"},"content":{"rendered":"

The other day, I met with the head of a \u57fa\u91d1\u4f1a<\/strong> (fund) in Shenzhen.\u00a0 He compared the process of institutional investing to a\u00a0\u9009\u7f8e <\/strong>(beauty contest) rather than a more focused and individualized process such as \u9009\u5076 <\/strong>(selecting a spouse).\u00a0 He iterated time and again that one must have basic standards as the groundwork for \u7b5b\u9009<\/strong> (filtering) rather than trying to digest all the information available on all stocks like how Warren Buffett used to read about all of the securities listed in the Moody’s manual.\u00a0 Using a mixture of \u91cf\u5316<\/strong> (quantitative) and \u8d28\u91cf\u5316<\/strong> (qualitative) measures as the groundwork, an investor must narrow down thousands of stocks to hundreds and begin more detailed research from there.\u00a0 When an associate of mine mentioned that even being able to \u7aef\u5496\u5561 <\/strong>(deliver coffee) so as to be able to first\u00a0\u9760\u8fd1 <\/strong>(be near) the industry and later \u6df1\u5165 <\/strong>(enter more deeply).\u00a0 The fund manager advised my friend to first \u7d2f\u79ef\u7ecf\u9a8c<\/strong> (accumulate experience), as getting into the industry without some level of experience was \u4e0d\u5927\u53ef\u80fd<\/strong> (not highly likely).<\/p>\n

\u57fa\u91d1\u4f1a <\/strong>ji1jin1hui4 – fund
\n\u9009\u7f8e <\/strong>xuan3(2)mei3 – beauty contest
\n\u9009\u5076 <\/strong>xuan3(2)ou3 – selecting a spouse
\n\u7b5b\u9009 <\/strong>shai1xuan3 – select\/filter
\n\u91cf\u5316 <\/strong>liang4hua4 – quantitative
\n\u8d28\u91cf\u5316 <\/strong>zhi2liang4hua4 – qualititative
\n\u7aef\u5496\u5561 <\/strong>duan1ka1fei1 – hold (in this case bring\/deliver\/serve) coffee
\n\u9760\u8fd1 <\/strong>kao4jin4 – be near
\n\u6df1\u5165 <\/strong>shen1ru4 – enter deeply
\n\u7d2f\u79ef\u7ecf\u9a8c <\/strong>lei3ji4jing1yan4 – accumulate experience
\n\u4e0d\u5927\u53ef\u80fd <\/strong>bu4(2)da4ke3neng2 – Not really possibly<\/p>\n","protected":false},"excerpt":{"rendered":"

The other day, I met with the head of a \u57fa\u91d1\u4f1a (fund) in Shenzhen.\u00a0 He compared the process of institutional investing to a\u00a0\u9009\u7f8e (beauty contest) rather than a more focused and individualized process such as \u9009\u5076 (selecting a spouse).\u00a0 He iterated time and again that one must have basic standards as the groundwork for \u7b5b\u9009…<\/p>\n

Continue Reading<\/a><\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":""},"categories":[13],"tags":[2659],"class_list":["post-177","post","type-post","status-publish","hentry","category-vocabulary","tag-chinese-language"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t