本文作者为BEDROCK成员Barry 对行业的理解： 美国Digital Lending：科技提升效率 or Regulation arbitrage? 美国个人无抵押贷款市场：从2012年的总共欠款460亿美元上升到2020年1900万个贷款者总共欠款1500亿美元，F...

The first quarter of 2022 has passed in the blink of an eye, which seems too fast and feels like a dream full of drama. In the past...

I have been reflecting on my investment experience over the past five years, especially in the past year, and thinking about how we...

We previously wrote an article exploring the issues of probability, concentration, and diversification in investing (Probability,...

Recently, due to the volatile market conditions, especially concerns about future policy changes that have caused a series of...

Rethinking the Underlying Models of Chinese and Western Approaches to Investment Recently, the news that the education industry in China...

Recently, our managed products have experienced some setbacks. Therefore, I think it is necessary to communicate with investors before...

Since I referenced w to the power of n in a book review of "The Selfish Gene" last time, I decided to take out the book again and read it...

Mathematical Considerations on Social Cooperation I had the opportunity to read a rather obscure yet groundbreaking book published in...

The tea session will focus on two questions that have emerged from reading "Zero to One": how to define the boundaries of a company and...

We Are All Product Managers Yu Jun's book was initially written for internet product managers, and it may seem unrelated to investments....

The Innovator’s Dilemma contemplates the difficulties of maintaining a firm’s position when faced with innovative technologies. Summary...

On the occasion of bidding farewell to the old and welcoming the new, although we have already written a summary, we still feel the need...

Competitive Advantage Analysis Determining the Existence of Competitive Advantage: Market Share/Stability of Relative Market Position...

Existence of Competitive Advantages I. Stability of market shares/relative market positions among firms: each player in the market can...

In this edition of Reflections on Investment, I intend to delve into the topic of skill acquisition and cognitive upgrades in relation to...

Performance and Valuation Levels of US Tech Companies Recent quarterly reports have been frequently released, and we have been closely...

Thinking, Fast and Slow was probably the best book I have read in the first half of 2020. Here are some of the notes I took after reading...

Thinking, Fast and Slow was probably the best book I have read in the first half of 2020. Here are some of the notes I took after reading...