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终极复利机器基金第三季度报告节选

终极复利机器基金第三季度报告节选The excerpt of the Third Quarterly Results

2016-11-05 实力视界

 

    We have prepared the third quarter report in both Chinese and English.  For more information, qualified investors can contact us strengthasset@163.com.The following is the excerpt of the quarterly report. 

  

    我们准备了中英文版的实力终极复利机器基金第三季度业绩报告,需要了解的合规投资人可以联系strengthasset@163.com ,下为英文版节选

       2.2 Investment Theory

       Buffett's mentor, Graham stressed that stocks should be regarded as part of the business.  "The smartest way to invest is to consider yourself as the owner of a holding company."  Buffett believes these are the most important words on investment and financial management in history ever.  That is to invest from the perspective of a business owner. The core investment idea of Strength Asset is to choose underpriced but powerful enterprises, hold them for a long term and invest with a moderation orientated objective. A low price can ensure safety.  Strength Asset will create value.  Compounding makes miracle. Moderation will reach destination.

 

       The Five Major Investment Areas Focused by the Fund

·     Large consumption: food for the people;

·      Great health: life is precious;

·      Big money: money never sleeps;

·      Great energy: social driving force;

·      Great wisdom: A spiritual mode.

      The five major industrial groups will produce extraordinary enterprises, characteristic of a compounding machine.  According to Wall Street’s statistics for the last 50 years, these areas have the highest long-term average compound rate of return.  These areas are also circle of competence and circle of competitive edge developed by Mr. Li Chen and his investment research team.

 

      3. How to Manage Risk?

      The nature of the asset management industry is risk management.  Risk management is system engineering.  Strength Asset has established a strict
unique risk management system in the management of fund:

       Risk averse culture;

      One person to act as both chief investment officer and chief risk officer  collectively referred to as "risk manager";

      Double-stack risk defense (double insurance thinking);

      A checklist prior to major investment decisions;

      Eight principles: Do not speculate; Do not carry high debt; Do not sell naked short; Not to be desperate; Not to be distracted; Do not do when do not understand; Do not follow the crowd; The compounding process of core holdings is not to be easily interrupted;

 

     Definition of Risk

     We believe that the risk is the "possibility of loss", which is a permanent capital loss.  For enterprises, the risk is mainly the narrowing of the enterprise's  moat (competitive advantage weaken), or even the possibility of disappearance of the moat.

 

      Culture of Steady Progress while Controlling Risk:

      We always put the asset safety in the first place.  We will adhere to the law and social values, adhere to the investment discipline and
management principles, and cultivate a corporate culture of progressing
steadily while controlling risks.  We will embed such a risk adverse culture in our gene and protect us from any risk.

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