Buffett's senior apprentice
Rate Of ReturnLast year, Meituan faced competition from Douyin. If you understood the industry well and knew both sides sufficiently, you could judge and seize this opportunity. At that time, we actually identified this opportunity and took action—after Meituan's stock fell below 100, we added positions multiple times. However, poor discipline led to a lack of funds when it dropped below 80, forcing us to use leverage to buy calls. When it fell below 70, many positions were liquidated......
Overall, the judgment on this opportunity was correct, but the execution was poor. It was the most reflective operation of this year.
"When a strong large company encounters a huge but solvable crisis, an excellent investment opportunity quietly arises." So the question is, how to identify a 'huge but solvable crisis'?
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