Write a mi post, purely from an investment (speculation) perspective, don't like it don't criticize

Recently, there have been very few operations, constantly withdrawing funds and reducing positions. US stock options are almost bottoming out (mainly options). Idle time to study Lei Jun and Xiaomi (accumulate some real trading experience)

1. First, clarify the stance, neither a fan nor a hater. "Xiaomi" is just one of the very few Hong Kong stock targets I follow, and I have already started building a position.

2. Talk about the terms learned here: "investment" and "speculation". For this stock, the attitude is more "speculation" than "investment". This stock is not look at the long-term but only at the cycle (short-term profit opportunities are greater).

3. For a company, first look at the helmsman. Fortunately, I met Lei Jun many years ago/listened to his insights/sat at the same table for dinner and toasted. In terms of personal ability/market sense/affinity, he is really top-notch, but unfortunately missed Xiaomi's early stage. With an engineering and angel investment background, he is definitely a top entrepreneur in China, and his character is not evaluated.

4. Talk about the company. Xiaomi phones took off, Mi Chat/Mi Game/Mi+... became popular as soon as they launched, but later became lukewarm. Later, Xiaomi TV, Xiaomi Home, and Xiaomi cars, copying is not fake, creation has always been there. But in terms of the damage to the stock price and retail investors from dividends/issuance after listing, it is indeed unique in the circle. Of course, if you look at it over a longer cycle, for early-stage believers, the returns are still sufficiently generous.

5. Talk about thoughts

First, compared to the US market, the environment is different, so you can't expect a 20-year bull run; second, the current era is about technology/AI/robots and chip energy (at least for the next 5-10 years), and China also needs pillars and replacements, Lei Jun's ecosystem has touched all of them; third, Hong Kong stocks rely on a few big stocks to stabilize the index; finally, they have started repurchasing, at least showing an attitude.

Before, I remember mentioning in the posts of Longbridge friends (it should have been 44-45 at that time) that it would probably touch the monthly line (the trend was broken), now it's hindsight, indeed building a position near 37.

The subsequent trend has been rehearsed:

a. Continue to deteriorate, touch 32-33, break and head to 26 (bear drop)

b. Bottom out and rebound, quickly recover 40, forming a 5-10 trading day consolidation bottom (40-42); later either quickly break through 50/or form a longer-term wide-range fluctuation (3 months) (strategy to be considered then)

6. Finally, staying cautious/controlling positions is the most important.

$XIAOMI-W(01810.HK)