What a gigantic change not seen in a century means

 1) Transition from export-driven economy to consumption-driven economy

• Impact on USA and rest of the world
• Japan, Taiwan and Singapore: How to go through transformation, learn from history 

•  Investment opportunities: real estate, stocks, bonds, commodity
•  Key factor in consumption economy is people, high earning and high contributing young people, whoever in large China can attract more people in this category will have a better time to transit to new model, and that is why Shanghai is relaxing its Hukou poliy

 

Book Review: What you are getting wrong about Appalachia by Elizabeth Catte

The book is a anti-thesis against Hillbillie Elegy by J.D.Vance. It offers a nuanced look at Appalachia, its racial composition, its history of poverty and uneven distribution of wealth within the region, the outside corporations exploitation of the region.

Reflection On Stock Investments Across Two Markets

Quick mid-term checks on recent stock investments in US and Chinese markets

1) Have a clear idea on your investment time horizon

    Is your investment horizon 1 year? 10 years? 

    For short termer, topics usually drives appreciation. For long termer, intrinsic value, management and moat should be what you look for

2)  Undertand market pecularity

    For US market   

• Market driven price movement
• Focus on growth
• Mid to long term thinking dominate
• Most of the time, asset is the king, you don't want to miss the boat
• Recently seems to dominate by fed money policy and deviate from market driven theme

   For Chinese market

• Government policy driven
• Focus on government policy and central bank monetary policy
• Short term thinking still dominate, but began to mature to mid term thinking
• Cash is king, once in red, always profit taking to keep some powder ready, when policy changes you have cash to jump in
• With new regulation, trying to transition to market driven, but result is still to be seen