吉林快3

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var _hmt = _hmt || []; (function() { var hm = document.createElement("script"); hm.src = "https://hm.baidu.com/hm.js?06a9f91b3627ff69f489962891893811"; var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(hm, s); })(); 汇添富基金李云鑫:拥抱好生意,信奉长期主义-汇添富投资洞察-添富资讯-汇添富基金管理股份有限公司

吉林快3

吉林快3>添富资讯>汇添富投资洞察> 正文

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李云鑫:汇添富基金李云鑫:拥抱好生意,信奉长期主义2020年09月08日

TOUZISHISHENME,BAFEITEDUICIYOUJIANJIESHENKEDEDINGYI,“XIANZAIXIANTOURUYIBIQIAN,ZAIWEILAIMOUGESHIJIANNAHUIYIBIGENGDUODEQIAN,NAHUIDEZHEIBIQIANYAOXIANKOUCHUZHEIGESHIQIDETONGHUOPENGZHANG。”ZHEIQIZHONGYUNHANZHEJIGEHEXINNEIHAN:SHOUXIAN,NENGNAHUIGENGDUODEQIAN,YUANYUZIBENHUIBAO。CONGZHANGQIWEIDULAIKAN,RENHEHUIBAOJUNZHINENGLAIZIYUZICHANBENSHENCHUANGZAODEJIAZHI。YINCI,YONGYOUYIXIANGHAOSHENGYI,SHIHUODECHIXUGAOHUIBAODEBENYUAN;QICI,HUIBAOYAOKOUCHUTONGZHANG。ZHANGQILAIKAN,TONGZHANGSHIDUIZHENSHIHUIBAODEJUDASUNHAI,YINCIJUYOUQIANGDADINGJIANENGLIDEYOUZHIQIYEKEYIHUODEXIANZHUDEYIJIA;ZUIHOU,HUIBAOXUYAOZAISHIJIANDEWEIDUSHANGZHANKAI。SHIJIANSHIFULIDEGUANJIAN,DANSHIZHANGQIZHUYIZHEQUELIAOLIAOWUJI。

XIANSHUOHAOSHENGYI。BAFEITECENGSHUO,WOYEBUHUICHAOGU,WOMAIDESHISHENGYI。ZHIYAOSHIHAOSHENGYI,BIEDESHENMEDONGXIDOUBUZHONGYAO。HAOSHENGYI,NINENGKANCHUTAJIANGLAIHUIZENYANG。BUTONGDESHENGYIZHIJIANCHABIEJUDA。YOUDINGJIA2000YUANDANYUANLIAOCHENGBENJINWEI50YUANDEDEBAIJIU,YOUZUODISHOUZUDEJICHANG,YEYOUCHANGNIANKUISUNHAIBIXUBUDUANBAWEIBOLIRUNZAITOURUDEYELIANCHANG,YIJIKAOTIANCHIFANDEZONGLVYOUJIAGONGYE(YUNSHUCHUANHAIZAIHAISHANGSHIYIJINGKAISHIKUIQIAN)。BUTONGDESHENGYISHUXING,SHITOUZIHUIBAODEFENSHUILING。

BIZHERENWEI,SHIJIESHANGDESHENGYIDAZHIKEYIFENWEISANLEI,wonderful business、good businessHEbad business。wonderful businessJIWEIXIQUE,TONGCHANGJUYOUHENQIANGDEJINGJISHANGYUYIJIKUANGUANGDEHUCHENGHE,DUOJIANYUJINGDIANDEPINPAIXIAOFEIPIN、TEXUJINGYINGYIJILEILONGDUANDEXINGYEZHONG。ZHEILEISHENGYI,CHENGXIANCHULAIDESHI“TANGZHEZHUANQIAN”,QIEHUIBAOLVJIAOGAO。GENGWEIZHONGYAODETEZHENGSHI,ZAIZIBENKUODAZAISHENGCHANDEGUOCHENGZHONG,JINXUYAOSHAOLIANGZIBENTOURUSHENZHIBUXUYAOZIBENTOURU,JINGYINGHUODONGHUODEDEJINGXIANJINDABUFENYONGYUHUIBAOGUDONG。BAFEITEZHONGAIDEMOUTANGGUOQIYEJIUSHIZHEILEISHENGYIDEDAIBIAO,ZUOWEIYIGEQUYUPINPAI,TAZAIXIHAIANYONGYOUZHANLINGXINZHIDEGUANGFANZHIMINGDU。1972NIANBAFEITEYI2500WANMEIYUANMAIXIA,JIEZHI2007NIAN,XIAOLIANGFUHEZENGSUZHIYOU2%,DANNIANJUNTIJIA5.4%,SHIXIANJINGLIRUNNIANFUHEZENGZHANG8.3%。ZAIZHEI35NIANJIAN,BAFEITEZHIXINZENGLE3200WANMEIYUANDETOUZI,QUELEIJINAZOULEJIEJIN10YIMEIYUANXIANJIN,YONGYUTOUZIQITAGONGSI。XINSHIDAIZHIHOU,HULIANWANGJUTOU(FAAMG)ZECHUANGZAOLEQIANSUOWEIYOUDESHENGYIYETAI,PINGJIEWUBIANJIEDEWANGLUOXIAOYING(MEITEKAFUXIAOYING),SHIXIANLEDIBIANJITOURUQUEHUODEGAOZENGZHANGDEHANJIANXIANXIANG,BEIBAFEITECHENGZHIWEI“incredible business”。

DIERLEISHENGYI,BIZHECHENGZHIWEI“good business”。ZHEILEISHENGYIQICHUZHUANQIAN“BUTAIQINGSONG”,DANQIYELIJINGJIANXIN,CHENGGONGGOUJIANLEHUCHENGHEZHIHOU,YENENGHUODEHENBUCUODEHUIBAO。ZHEIZHONGSHENGYIYETAIZUIDIANXINGDEDAIBIAOJIUSHIYOUXIUDEZHIZAOYELONGTOU,SHUINI、HUAGONG、DIANZILINGBUJIANDENG。ZHEIXIEXINGYEWANGWANGTIGONGDESHITONGZHIHUADECHANPIN,HEXINJINGZHENGYAOSUWEICHENGBENLINGXIAN,TONGSHIPEIHEXUNSUDEKEHUXIANGYING,YIHUODEJINKENENGLINGXIANDESHICHANGDIWEI。ZAISHENGYISHUXINGSHANG,XUYAOWEICHIPANGDADEZIBENKAIZHIYONGYUJIANGDICHENGBEN,HUODELONGDUANGUIMO,ERYIDANHUODEYOUSHIDIWEIHOU,KEYITONGGUOZAISHANGXIAYOUDEYIJIANENGLIHUODEYIDINGCHENGDUDEZIYOUXIANJINLIU,BINGSHIXIANCHAOESHOUYI。ZHANGYUANLAIKAN,ZHEILEISHENGYIYENENGDAILAIBUCUODEHUIBAO。

DISANLEISHENGYI,BIZHECHENGZHIWEI“bad business”。HENYIHANDESHI,WULUNSHIZAIAGUSHICHANG,HAISHIZAIQUANQIUSHICHANG,ZHEILEISHENGYIYINGGAIZHANJULEJUEDUISHULIANGDE70%YISHANG。ZHEILEISHENGYIBENZHISHANGBINGBUCHUANGZAOGUDONGHUIBAO,MOUZHONGCHENGDUSHANGSHIZAIHUIMIEJIAZHI。XUEXIQUXIANPINGHUAN,LONGTOUYEWUFAGOUJIANJINGZHENGYOUSHI,XIANFAZHEJUBEIBEIDIANFUDEKENENG。ZHEILEISHENGYITONGCHANGJIANYUDIDUANJIAGONGYE,WUFACHUANGZAOGUDONGJIAZHI,YEBUJUBEITOUZIJIAZHI。

WOMENSUOXUYAOZUODE,JIUSHIZHAODAOYIMENHAOSHENGYI,BINGZHANGQIYONGYOUTA。XINFENGZHANGQIZHUYI,BIZHERENWEIZHEISHIHUODEQIJIBANHUIBAODEZUIZHONGYAOFANGSHI,SHENZHISHIWEIYIDEFANGSHI,ERZHEIJISHIQIDIAN,YESHIZHONGDIAN。

BEISUOSIZAI1997NIANDEDIYIFENGGUDONGXINZHONG,JIUZHENGZHONGXIEXIALE“it's all about the long term”,BINGZAIZHIHOUDEMEIYINIANXINZHONGFANFUQIANGDIAO,GENGZHONGYAODESHIZAIZHIHOUDEERSHIYUNIANZHONGBUYIYULIDEFUZHUSHIJI。

WEISHENMEXIANDAIWENMINGXIADEJINGJINENGGOUYIFULIXINGSHILEIJIZENGZHANG?ZHEISHILILUZAI《WENMING、XIANDAIHUA、JIAZHITOUZIYUZHONGGUO》ZHONGDEYIGEZHUYAOTANTAO。WENTIKANQILAIHENJIANDAN,HUIDAQUEBINGBURONGYI。LILUTICHULEZAI“1+1>2(ZIYOUSHICHANGWUWUJIAOHUAN)”JICHUSHANGDE“1+1>4”,JIXIANDAIKEXUEJISHUXIADESIXIANGJIAOHUAN,BUJINKEYIHUODEDUIFANGDESIXIANGZHISHI,GENGKEYIPENGZHUANGCHUXINDEXIANGFA。ZHENGSHIYOUYUZHISHIBENSHENDELEIJITEXING,SHIDEXIANDAIKEXUEJISHUHEZIYOUSHICHANGJIEHEZHIHOU,WULUNSHIXIAOLVDEZENGJIA,CAIFUDEZENGLIANGHAISHIGUIMOXIAOYINGDOUCHENGBEIFANGDA。ZHENGSHI“1+1>4”ZHEIGETEXING,SHIDEXIANDAIJINGJIYIFULILEIJIDEXINGSHIZENGZHANG,SIHUHAOWUSHANGXIAN,ZHEIZAIRENLEILISHISHANGCONGWEIYOUGUO。

BIZHERENWEI,ZHEIJIUSHIXINFENGZHANGQIZHUYIDAILAIDEZUIHUIHONGDEHUIBAO:“SIHUHAOWUSHANGXIANDEFULILEIJIDEZENGZHANG”,WULUNSHIJINGYINGSHIYE,HAISHITOUZIBENSHEN。

RANERZHANGQIZHUYISHIJIQIJIANNANDE,BEIHOUSHIRENXINGDE“TANCHENCHIMANYI”,TAMENXIANGSHANYUEYIYANGGULAO,GENGUBUBIAN。ERZHANGQITOUZIZHISUOYIYOUXIAO,SHIYINWEIJIANSHOUSHIJIANDERENTAISHAO,ERWOMENSUOXUYAOZUODEJIUSHI“CHENZHONGMUGU”BANJINJI,“SHENGJUMUDUAN”BANJIANCHIERYI。

XINFENGZHANGQIZHUYIDEBEISUOSICENGXIANGTONGYANGXINFENGZHANGQIZHUYIDEBAFEITEWENLEYIGEHENJINGDIANDEWENTI:“NIDETOUZIFANGFAJUSHIJIEZHI,WEISHENMEMEIYOURENXIANGNIZHEIMECHENGGONG?”,GUSHENHUIDA:“YINWEIMEIYOURENYUANYIMANMANDIBIANFU”。

YONGBAOHAOSHENGYI,XINFENGZHANGQIZHUYI,MANMANBIANFU。

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