關於 use value中文 ，我們在網路上蒐集到這些相關的討論、資訊與評價

🌻年報導讀

之前提過, 本來想秋天來做這樣的導讀, 但台灣疫情太嚴重, 這個時候做, 或許比較好, 這樣有興趣的人可以利用在家的時間來學習, 也可以轉移對疫情的注意力.

美國上市公司的年報資訊很透明. 通常看完一份年報, 就能掌握八成的公司狀態了. 公司給的官方資訊也比網路上的優質&有系統.

這次會以一家成長型公司的年報為主軸, 其他公司的為輔, 來帶大家看年報, 並分享自己是如何抓公司的營運重點. 屆時也會有有看年報經驗的股友一起做分享.

(By the way, 我說的年報導讀, 是說看10-K(以下以PINS為例). 主要是知道公司的業務, 還有該注意的營運關鍵數字:

https://d18rn0p25nwr6d.cloudfront.net/CIK-0001506293/0c811ec8-0109-4e9a-8f81-974b15595671.pdf

Anyway. 只是想先溝通一下會比較好. 要參加的人, 也比較有心理準備.)

年報導讀
🎯目的: 推廣看年報的好處,並藉此了解公司營運核心, 以掌握財富; 推廣疫情期間在家自學.
🎯對象: 想要了解個股基本面的美股投資人.英文能力不是問題: 可透過這次的導讀, 讓您之後找中文資料時, 能夠進入狀況. 或是之後可利用Google Translator來做輔助.
🎯時間: 台灣時間本周日(06/06)早上10點. 美國的朋友也歡迎(美東時間周六晚上10點, 美西時間晚上7點). 計畫1~1個半小時.
🎯進行方式 : Zoom (抱歉我不會露臉😅)
請用這連結加入會議: https://www.zoom.us/join
Meeting ID: 490 064 3121
Meeting passcode: 4n0tRe(輸入的時候請注意大小寫. 中間那個是數字"0")
(如果屆時不方便, 我會將影片錄下來, 之後可以觀看)

🌻本周做的功課與閱讀
https://makingsenseofusastocks.blogspot.com/2021/05/blog-post_27.html

🌻曾獲諾貝爾經濟學獎的美國心理學家 Daniel Kahneman, 最近接受了Barron's的專訪, 談了一下他的新書"Noise".

https://www.barrons.com/articles/economist-daniel-kahneman-says-noise-is-wrecking-your-judgment-heres-why-and-what-to-do-about-it-51622228892

印象比較深的幾段有:

1. 討論也是會帶來所謂的噪音("in some cases, discussions can cause noise.")
-->This makes me wonder: 大家在一起討論個股時, 是否真的對自己有幫助?

一位財經名嘴的方法挺好: 他會自己先把公司的資料看過一遍後, 歸納出自己的想法. 也讓自己不受到媒體的報導所影響.

2. Overconfidence spins from the fact that we tend to latch onto one interpretation of a situation. We do not see alternatives.
過於自信其實是只看到一種情境的展現, 因為這表示自己沒有看到另外幾種情境.

3. One way to discipline your thinking is independence—making sure that if you’re consulting different people, they are independent of each other. Or if you are looking at different characteristics of an investment, that you evaluate them independently of each other.
一種讓自己思考能夠有紀律的方法是獨立--也就是在跟不同的人徵詢意見時, 這些人的思考也是要互相獨立的. 不是同溫層.
運用在投資上就是, 在考量一家公司的各種特點時, 要獨立去看這些特點.

4. 這段也寫的挺好. 可用在挑股上. 也就是, 挑股時, 不能只把眼光侷限在單一個股上. 而是要把公司拿來跟其他公司一起做比較.
Aggregate judgements wherever possible. Making judgements comparatively, rather than absolutely, is [also] a very good procedure. People are much better at saying that A is riskier than B, rather than putting an exact number on how risky A is and how risky B is. Use comparative risk and relative risk, rather than putting absolute numbers on things. Simple rules tend to be very good; people who are not governed by rules tend to be extremely noisy in their judgements. When you become conscious of the problem of noise, you become conscious of the value of rules and of discipline.

Picture: 花栗鼠(chipmunk)

There is no big or small work🤔 #所有工作的質量或價值取決於投入多少精力✨#中文如下 ⠀
“The quality or value of the work you do, depends on how much concentration you put into it” - Dr. Ganesh. ⠀
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I find this such a beautiful thought, because it’s an attitude which you can use for anything you do in life. ⠀
From doing your work, to daily tasks like house hold, more complicated things like projects or taking care of relationships. ⠀
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Everything you do, no matter the size of the task, can become very valuable just simply by you putting your heart in to it.💛⠀
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「沒有所謂大的或小的工作。 任何工作的質量或價值取決於你投入多少精力」- 來自印度的 Ganesh博士。⠀
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我覺得這句很美好，因為這種思考方式和態度適合用在生活中的任何事情上。⠀
從工作到日常家務，或照顧人際關係和感情，這些都是。⠀
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我們所做的一切，無論任務的規模如何，只要我們全心投入，它就可以變得的非常有價值♥️⠀
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#yoga #yogalove #yogalife #yogainspiration #yogagirl #yogaeverywhere #yogaeveryday #yogapractice #yogi #yogis #yogilife #grateful #begrateful #gratefulheart #gratefull #gratefulness #thankful #thank #bethechange #bethankful #live #liveauthentic #livelife #love #loveit #loveyourself

[科技業的護城河]

這篇是講矽谷投資人, 是如何在一堆的新秀中, 挑選可以投資的創新公司.

裡面有提到護城河.不過有些跟"尋找投資護城河"一書提的不太一樣.

我也認為, 研究個股, 尤其是科技相關類股, 除了要看它有沒有先行者優勢(first mover advantage), 也需要注意公司有沒有自己的生態系統, 以及它在更大的生態圈/供應鏈中扮演了甚麼角色.

********
(中文譯稿見此:https://36kr.com/p/5141901)

常見的護城河至少有以上六種：

技術。更好的基礎技術當然是一種護城河。在極端情況下，能夠為客戶帶來利益的新技術可以演化為一種行業標準，你也可以把它理解為一種壟斷，就像英特爾一樣。

生態系統。 YouTube 從內容生產者、分發渠道到內容的託管、保存，建立起了一整套生態系統。類似的，蘋果的 App Store 也有自己的生態。

網絡效應。社交網絡現在已經很好理解了。此外，如果某種按需服務具備了一定的流動性，並且與消費者建立了親密關係，或者是基本控制了需求或供應方其中一方，也可以算作網絡效應。

產品領導者。像 Salesforce，Workday 和 ServiceNow 這樣的雲服務提供商，搭建了一套完整的解決方案，而且創新速度夠快，產品功能完善，成為其細分行業的領導者，當然也算是一種護城河。

渠道。尤其是對於 to B 產品來說，能不能在一個企業內部流通，既是一個挑戰，也是一種優勢
********

原文寫的比較仔細, 轉貼在下方: https://news.greylock.com/what-do-i-look-for-in-a-pitch-866355bddb3

We love to talk about “network effects” in Silicon Valley, but many believe that starts and end with the social, viral growth of Facebook. But network effects can build many kinds of moats that defend them against copycats and price erosion.

I don’t describe every kind of moat here (e.g., regulatory) and many great companies will have new types of moats — ones yet to be invented. No moat is absolute or permanent or I’d be out of a job! Still, having a thesis on your defensibility is essential, even at the Series A.

--Tech. We continue to believe in new and better fundamental technology as a moat — not so much patents or legal protection, but products that are hard to build well or take advantage of a fundamentally new approach. In extreme cases, a technology advantage that translates into a customer benefit can turn into a standard — an effective monopoly — as in the case of Intel. In most cases, even a great technology moat only gets you far enough to become a market leader, buying you the right to work closely with customers and enabling you to define the market.

--Ecosystem moats come in many flavors — from becoming the default hosting site for user-generated video content (YouTube), to the rapid, developer-driven free adoption of container technologies and growth of associated tooling (Docker), to the developers that now make >$20B a year through the Apple app store.

--Networks. Social networks are now pretty well-understood. Marketplaces and on-demand businesses reach a liquidity point (even a local one) and build mindshare with consumers that becomes hard to displace. Often, marketplaces have some advantaged acquisition strategy for at least one side (demand or supply) — they’ve built a community, offered a compelling new service, have organic or viral spread.

--Product leaders. In the enterprise, cloud pioneers like Salesforce, Workday and ServiceNow built complete, core workflow solutions with a new architecture. Their faster-innovating products, (at that time novel) SaaS consumption model, and dominant go-to-market machines have made them category leaders. Each is now expanding their initial moats to become platforms for other applications and workflows.

--Distribution represents a new generation of user-adopted SaaS products. End-user engagement within organizations is often a weak spot for enterprise software incumbents. Deploying software is a challenge for most organizations, and consumers who are using more software in their own lives expect better choice and usability. Simplicity and quality of design has become a moat, especially when coupled with product features that encourage adoption within an organization, or new layers of value for incremental users within an organization. Is it better for me if my team also uses a tool? What about my manager?

Capturing a unique dataset is also emerging as a moat in the age of AI-powered products. If your workflow product or MVP is useful on its own, and you can use it to collect unique data, you can then learn from that data to build a better and smarter product, improving the user experience — driving a new virtuous cycle.

孩子取名，不跟著家譜就是大不孝 !?

在新加坡，幾乎每個父母都會為孩子取個洋名。有的家長覺得這樣比較容易叫孩子的名，有的認為這樣才跟得上時代。

但我們必經是華人，刻在墓碑上的，終究是華文名。華文的源起在歷史中已隱藏著玄秘的力量，因此一個好的中文名有著巨大的力量來加持一個孩子八字的不足，不是英文名字能比得上的。

有的父母取名憑當時的感覺，有的父母有家譜的傳統。前者可能感情用事，後者就一定比較有智慧嗎？

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It Is Unfilial Not to Name Your Child After the Family Tree Book?

In Singapore, almost every parent will give the child a Christian name. Some parents say that it is easier to call the child with an English name, while some regard this as keeping up with the times.

But we are Chinese after all. What is engraved on our tombs will still be our Chinese names. Due to its historic mystical origins, the Chinese language is much more powerful in empowering the child with auspicious energies for the inadequacies in his/her Bazi. A name from its English counterpart just doesn't measure up.

Some parents name their child based on their emotions at that time. And there are parents who are obliged to follow the Family Tree Book. While the former is sentimental/emotional, is the latter necessarily a wiser move?

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阿彌陀佛，你好！我是李季謙，來自新加坡。我將我的一生貢獻於弘揚佛法和中華玄學。這過程曲折離奇，卻也充滿了許多人生的領悟。

通過我的影音與寫作，我希望能與你分享，盼你也能夠突破自己命運的束縛，真正活得精彩。我命在我，不在天。

人生長短無所謂，最重要的是活得有價值，有貢獻。

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Hi, I am Lee Ji Qian, a Chinese Metaphysics practitioner from Singapore. This journey in propagating Buddhism and Chinese Metaphysics has been full of hard knocks and exciting discoveries.

Through my videos and online writing, I hope to share my journey with you. So that you too can break free from the limits of your destiny and truly live a life you can call exciting. My destiny is in my own hands, not Heaven. So is yours.

It does not matter whether we can live a long or short life.
What matters most is living a life of value and contribution.

??‍? 服務諮詢 FOR MY SERVICES：
http://www.qianyu.sg/consultations

? CONNECT WITH ME HERE:
http://www.facebook.com/qianyuSG
https://www.instagram.com/qianyusg/

*** 我使用的器材 OTHER TECH EQUIPMENT I USE ***

這支影片 FOR THIS VIDEO:
Iphone 6
Wide Angle Selfie Ring Light
3-in-1 Monopod: https://amzn.to/2rJ1M03
Royal Voice Lavalier Mic (out of production)
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Sony A6400: https://amzn.to/33NLssT
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有聲書錄音器材 AUDIOBOOK RECORDING
Neumann T102: https://amzn.to/34XuFE3
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大約一個月前有外國皂友留言詢問我「胺基酸皂」的製作，他應該是用了翻譯軟體用中文留言讓我印象很深刻，完全被他的誠意感動就來一鍋吧！

「胺基酸皂」跟我們常做的冷製皂非常不同，成品的pH5.5是非常適合用來洗顏的弱酸性，泡沫豐盈溫和洗感超棒的。

Few months ago, I got a message asking about "Amino Soap" from @عالم الصابون والاعشاب ومستحضرات التجميل. I'm quite touched because the message was written in Chinese (looks like from google translation ). So I arranged this video demonstrating how to make the "Amino Soap"

It is very different from the CP soaps that we made very often. The pH value is about 5.5, very suitable for facial use. The texture is wonderful.

【配方/Recipe】
椰油醯基谷胺酸/Cocoyl glutamic acid: 350g
丙二醇/propylene glycol: 90g
甘油/glycerin: 100g
純水/purified water: 175g
三乙醇胺/triethanol amine: 250g
茉莉花瓣香精/demure jasmine petals fragrance oil: 20ml
氨基酸起泡劑/sodium lauroyl methylaminopropionate: 35g
金箔/gold foil: 適量/moderate

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