Cybernetics and systems theory are fundamental disciplines for understanding the changes in things, and understanding these fundamental...

Although the phrase "when in doubt, use quantum mechanics" has long been used as a joke, this article is not a discussion of a...

Recently, I have been reflecting on our investment methodology, and one of the most important aspects is risk management. I believe this...

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...

We did some Q&A after our Q2 investor sharing, as follows. It is for reference only and not intended as investment advice. Q: How do you...

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...

Market & Operation Review The sudden Russian-Ukrainian war in February and the subsequent sanctions imposed on Russia by various...

Risk Control, Challenges and Corrections 2021 can be said to be the most challenging year for my investment career. It's not because of...

Investment Ideas & Market Outlook Domestic macro: the main conflict is steady growth. Steady growth is the core of the central economic...

Core Value： Value investing in the best growth opportunities and share with our investors on the way. What we are looking for: 1, Those...

Part 1. How to Understand Consumerism Part 2. How to Understand Media/Content/Communication/Consciousness Centralization? Part 3. How to...

Part 2. How to understand media/content/dissemination/ideological centralization? The author attempts to combine media theory with the...

In consumer goods investment, understanding brand is an important topic. The role of a brand can be simplified and divided into two...

by Jolin This book was recommended to me by a friend who is an entrepreneur. We were discussing the topic of "how to maintain consistent...

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

Many people would say that it was Jack Welch, who achieved a 20.9% annual compounded shareholder return during his 20 years as CEO of...

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...