Chung Kee_The Essence of Practicing Value Investing 2020 Edition_Hong Kong & Macau Exclusive

Author: Chung Kee Publisher: Bright Light Culture Dimensions: 150mm x 210mm Pages: 288 ISBN: 978-988-8605-70-5 Publication Date: January 2020 [Synopsis] This is the 2020 edition of "The Essence of Practicing Value Investing." In his preface to the 2020 edition, the author writes: "After the peak in 2017, the overall performance of the Hong Kong stock market in 2018 and 2019 was rather disappointing, undoubtedly shaking the confidence of some investors in value investing. In times of a sluggish market and wavering confidence, the best course of action is self-improvement through reading. I hope 'The Essence of Practicing Value Investing' can become one of the financial books on investors' shelves, one they can revisit from time to time to reinforce their commitment to value investing." Chung Kee mentions the inspiration behind writing this book: "If I hadn't persisted back then in documenting my personal research findings on various industries and listed companies through blog posts, I believe it would have been difficult to compile such a rich financial book filled with numerous real-life Hong Kong stock examples. Now that I've retired from my role in stock investment, producing research insights of the same quality has become impossible. Therefore, I particularly cherish the articles in Chapter 8, 'Research and Stock Selection,' which makes this book even more worthy of collection." Having worked in the financial industry for over 20 years, the author believes that to avoid becoming "dim sum" for the big players, investors must possess a solid investment philosophy tailored to themselves. Among the many investment approaches, he finds that the "value investing method" advocated by "stock god" Warren Buffett is the most logical and sensible, and the most valuable for investors to learn. The concept of "value investing" is simple and easy to understand: it primarily involves buying quality stocks at a low price and holding them long-term. "Low price" here refers to being undervalued relative to the company's intrinsic value, ensuring investors have a sufficient margin of safety when they buy. However, while "value investing" is easy to understand, it is difficult to practice. "The Essence of Practicing Value Investing" uses multiple examples, including both successful and unsuccessful investment cases, to help readers better grasp what "value investing" truly means and how to correctly assess a company's value. Chung Kee points out that the essence of "value investing" lies in strict discipline and overcoming short-term psychological pressures. As long as investors understand the true meaning of "value investing" and persevere, they will surely reap rewards in the long run. [Author Biography] Chung Kee He has served as a stock analyst and fund manager at several financial institutions, and as an investment manager at a listed company in Hong Kong. With over 20 years in the financial industry, he holds an MBA from The Chinese University of Hong Kong and is a Chartered Financial Analyst and a Fellow of the Association of Chartered Certified Accountants.