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The Industrial Cycle is Our Bet for 2025
How Have We Reorganized Our Portfolio in Q4
Jingshu
Dec 29, 202411 min read
Light at the End of the Tunnel?
3Q 2024 Investor Letter
Jingshu
Sep 29, 20248 min read
Our Updated Thoughts on PDD
Excellent Odds for Patient Investors who can Tolerate Volatility Dear Readers: On August 26, PDD Holdings (PDD), the parent company of...
Jingshu
Aug 30, 20247 min read
Global Valuation Comparison
Increasing Western Exposure as Dividend Aristocrats Rally in China Before I start with this quarter’s letter, I’d like to share with you...
Jingshu
Jul 5, 20247 min read
Reflections of a Short Seller
In the Age of "Roaring Kitties"
Jingshu
May 14, 20249 min read
Carefully Navigating a Speculative World
To A Market That Did Not Have a 2% Correction in 6 Months
Jingshu
Mar 29, 202411 min read
Meituan is Our Next "Big Long"
In Q4 2023, we are finally warming up to Meituan’s valuation. Despite its incessant decline in equity price recently, we have been gradually
Jingshu
Jan 9, 20247 min read
Q4 Investor Letter -- Bracing for the Worst
How We Plan to Navigate the Worst-Case Scenario in China
Jingshu
Dec 31, 20238 min read
Q3 Investor Letter -- Poised for Capital Appreciation
Well-positioned in the longest historical decline of Hang Seng Index
Jingshu
Sep 30, 202310 min read
The "Dubious" Case of Netflix's Valuation
To A Gamma Squeezed World
Jingshu
Jul 18, 20234 min read
Q2 Investor Letter -- Two Worlds of Equities
The Opposite Treatment of US and Chinese Equities
Jingshu
Jun 30, 20237 min read
Q1 2023 Letter: Close to Our Anniversary
Regional financials present attractive opportunities for stock pickers
Jingshu
Apr 1, 20235 min read
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