GateUser-5f5e10dd

BofA: Currently, "going long on global semiconductors" is the most crowded trade.
A month ago, the most crowded trade was "going long on crude oil," and two months ago, it was "going long on gold" & "going long on global semiconductors" (but it wasn't as crowded back then as it is now).
Another piece of good news is that "shorting global carbon-based consumer stocks" ranks as this year's least crowded trade. But the bad news is that there aren't many people going long on the carbon-based consumer concept either.

There are many excellent four-season hotels domestically, such as Hong Kong, Suzhou, Hangzhou, Dalian, and Guangzhou, but Beijing Four Seasons is truly quite outstanding. I would call it American-style old-guard (compared to Shangri-La's Chinese-style old-guard).
In the chicken wine circle, is there anything more surprising than Huang Renxun, a loyal MO fan, ignoring two exceptionally excellent MO hotels in Beijing and only staying with leadership in the old-guard style? Is there anything more uncomfortable than staying at Beijing Four Seasons?

@0xLoki_Zeng

End this week's bitter life with the following shitpost,
1. The continuous surge in storage has had a huge impact on my physical health. Every time the storage rises, I feel a slight anxiety (thinking my mindset is already very excellent), and every time I feel a bit anxious, I go to the gym to lift weights, climb stairs, and swim. So recently, I’ve almost been living in the gym.
2. On Friday, I built positions in $FICO and $NOW , going further and further against the main narrative of the market. “#Patience of the Incapable Capital.”
3. I studied the “last car of semiconductors” carefu

On Sunday, I read an excellent article,
Tantuh Macro: "The claim that 'U.S. stocks always decline significantly during each transition of Federal Reserve chairs' " is incorrect.
The maximum drawdown within the first six months after a Fed chair takes office, and the maximum drawdown within any six months in the history of the S&P 500, show no significant difference.
If the calculation method is based on the lowest point within six months of taking office minus the S&P 500 level at the time of appointment, then
1) The maximum drawdowns within six months after the appointment of the most

The Chief Economist is actually a very prestigious position, mainly focused on research plus PR/IR.
If your trading is average or terrible, but you have good looks (like Hong Hao), know what to say to attract attention (like Li Bei), or have excellent market interpretation skills (even if forced, like Zhang Yidong),
then you are inherently a top-tier figure.
The excellence of this track is still greatly underestimated by veteran players in the crypto circle;
theoretically, it’s relatively easy to achieve a “Base + Bonus + near-zero risk altcoin exposure.”
But the guys are still compe

Hermès, Kering (Gucci's parent company) announced their earnings today, and unsurprisingly, they reported a major blowout, with double-digit declines (the largest drop since Hermès went public). A couple of days ago, LVMH's earnings were also quite weak, with leather goods business declining for seven consecutive quarters.
The business in China for these three brands is also quite sluggish.
But in recent years, the luxury industry hasn't been completely bleak,
1) There are always mythic sales stories defying the trend, with Miu Miu leading the way, and now Coach. It looks like Coach is a

Buybacks still heavily depend on the regime
1) Excellent buyback: It is part of the core narrative and also involves buybacks. This market generally interprets it very positively, with buyback effects maximized; buying back 1 yuan might generate 10 yuan of outside buying pressure. For example, in recent years, the AI sector.
2) Effortful buyback: Long-term observers like Wolong Fengchu, $ADBE and $PYPL , both have stable large-scale buybacks: $ADBE 's buyback in the past two years is around 10B, and $PYPL 's buyback in the past two years is around 6B. Their growth looks relatively decent.
How

Every year at the end of the year, I go to Lingshun Temple in Hangzhou for a report. This temple is reputed as the "Number One Wealth God Temple in the World" and is also well-known in the crypto circle.
But this year, there are especially many people, feeling like the number has increased by an order of magnitude: long lines for the cable car, crowds on the walking paths up and down the mountain, and the temple on the mountain top is packed inside and out. After returning, I still receive various recommendations from Xiaohongshu every day. The content is all about how there are too many peo

"As a proponent of cyclical theory, Zhou Jintao had his own theoretical beliefs: economic laws are like the laws of nature, as unchangeable by human will as the changing of the seasons."
9 years later. Zhou's theories have profoundly influenced how I view the crypto world and how to 'survive with high cost-effectiveness' in the industry, even though
"Strategically, he correctly identified the direction of the gears, but tactically, he clearly underestimated the power of resistance."
Cycles are always Zhongdeng's friend.