How do _ value investment in China-Sheng

���ࣺ��injury lawyers orlandoӪ����wbr>��������ô�����������Ҹо��治� In General, when the market rose to two thousand or three thousand points when friends to listen to the seminar and thousands, in fact, that time is at greater risk; at the time of 1000 points, instead of listening to people is small, in fact, greatly reduce the risk at this time, significant growth.����So now to listen to the lectures of friends, at least mentally, concept, is very good, invest in the stock market downturn ahead, after rose is timid. I since 1999, in particular the recent four-year bear market, feel. This four-year bear market funds the management of annual earnings will probably be about 30%. I have also passed through several stages. Before 1999, like many of my friends, all day long in front of the computer technology, graphics, or listening to gossip, finally, made a complete mess. Since 1999, fear, think stability is not lost is probably the most important rule of 1999, so after moving in the direction of which is the study of fundamental value investment. Have friends that China a-share market speculation is too strong, not amenable to the value of investments. I do not like this.����Watch forums entitled 05 investment channels, according to bill consolidation loan mortgage secondmy own opinion, there is no distinction of 05, 04, 03, in which year will do.���� I practice in recent years in terms of value investing and the formation of ideas, to sum up, there are four main methodssan francisco personal injury attorneys. the first one, called three noes principle, is to say without looking at the market, do not believe in technical analysis, not forecasts. don't watch the market, quite simply, the market in good times and bad stocks also fell was a mess, I still have a stock limit down, you want to see the market shares on the unit or your plant, and vice versa, this four-year bear market, in fact, some stock new highs year after year, brings us good return. We've seen a lot of stock analysts study the market, who can often see? market is useless and on the end you still have to put it into individual stocks, this sentence very few exceptions, only in index funds such as the Shanghai Stock Exchange 50ETF on this issue, depending on the market, at an average price-earnings ratio to the number of times, we should buy, when to jiancang. So I'm usually in addition to the sale of index funds, stock selection is not to look at the market. Do not believe in technical analysis. In 1999 I was on the wave theory, theory on w.d. Gann theory, moving averages, trends, and so on, I do not know how much time you spend study, felt like 18 weapons can use, try it. Results simply wouldn't work, or is old and losing money. Later, in a large gambling casino see the bookstore books sold, and have seen nine of ten gamblers lose money, it dawned: the original studies are not always is a good thing. Read a bad book is better not to read. Technical analysis of the book is the difference between the fortune teller, gambling will not be too far away. In particular, for some time, my friends be banker by turn, see where they are doing k-line. Also known as "trick lines." Dealer tells me that you see, I was stopped at a certain price by closing price today that it will stop at a certain price, which impressed me deeply. Kxiantu these things, you can't say it was a fraud, but many of them are lying, and if you rely on technical analysis, it is very dangerous, these risks include, you might have a stock's trend very well, hung up on the results at a very high position. We've seen a lot of friends doing technical analysis, which one do you think they can speak clearly is a rising or a falling tomorrow, do it. You see what technical analysts to technical analysis of the road passed to his son? they all agree that the mysterious! value investing is based on fundamentals, is only the owner righteousness do the learning. Don't do predictions. Also do not listen to gossip. Not do forecasting, accurately, is not short of ups and downs to predict, but you can make long term development of the forecast, such as on the Chinese economy or a sector, you can probably name a long time. Macro-control start, to avoid the excessive rise of cyclical stocks. Such as mobile phones came along, you don't have to buy those shares of BB, colour film there, don't buy stock of black and white film, digital cameras, color film stock, like the famous Kodak, Fuji, do not touch it, which we can also predict that SARS has come, affected the tourism industry, aviation industry, we probably can be predicted. But you have to say, tomorrow we must through 1000 points, will come to the end of 2000, then how can you say? said that one day a month to a year up to the number of points, are necessarily make the exact error. The exact error correct better than fuzzy, so I don't do predictions. Hong Kong has a famous wave master, you just have to see him out of the investment newsletter a few years, you'll find his forecast of more than one year can say about 70%, not about a month, forecasts every day it's impossible to see. Masters like this, what's more, we mere mortals. This is the first investment of three methods. Outside of the three, the only research company fundamentals. Study on company fundamentals, not just financial statements. My personal experience, report 30%, other 70% is the investigation and analysis, figuring out the major problems of enterprises, such as the core competitiveness, sustainable competitive advantage issue, the monopolistic advantages, profitability and revenue model problems and so on. the second method, 12 words of investment strategy: good good share price, long-term, appropriate decentralization. I like things like the great Warren Buffett quotations studies for five years, generally if I own this 12 characters. This 12 characters to prioritize, the most important thing is a good share. Good stocks can be simply expressed as: core competitiveness, sustainable competitive advantage, in China, because of their institutional reasons, there are significant monopoly, long life. Profit growth per year not less than 15%, net capitalProduction rate of not less than 10%, and so on. In addition, the prospects are better, there are excellent brands, it is necessary to have independent pricing power, excellent management, less liabilities, infrequently enough money to the rapid development of products to be straightforward, and so on. Company is not much better, I'm feeling a-share market, the Hong Kong stock market over the years, its probability in 50 hardly well 1000 stock company would have been nice, if you frequently buy stocks, certainly, the more good unit range, my four-year annual average of buying stocks is 2 to 3, so I bought some earn more than 200%, at least make 50%. That means you must be in a good effort on unit. I'm talking about here are the most important thing. Well outside the unit, is a good price. Both are indispensable. Many stocks, in addition to not buy stocks, buy garbage stocks outside the mistakes, they have pricing questions. We booked, will make many calls much see which airline discounts, even when it bought a few pounds of fruit, also ask price, 5 bucks a pound of apples, our quality, cut price cut. We usually buy things, is unambiguous. Many of us have bought stocks, take out all the billionaires, multi-year savings, but buy it was sloppy, a phone order. Or listening to a friend of mine said: "this stock has risen!" so I bought. Very hastily, and vital to this stock price, and you haven't had to think about. In fact, the stock market and life. Or think about this stock 100 per 1 unit is expensive, the stock 3-1 unit, very cheap. Absolute price comparison, this is a great deal of misunderstanding. To Hong Kong you will find, HSBC Bank than a penny of the $ 130 wing international, I do not know how much cheaper. A penny stock price-earnings ratio of 1000 times, or is about to go bankrupt, and $ 100 per unit of HSBC, you put in there, average annual profit of 6%, a little issues at all. This is the price of mistakes. My target companies, are carefully calculated, which price is it only worth buying. I bought the maotai liquor, according to the present price ex-dividend, was bought for $ 15, dynamic price-earnings ratio is 10 times less, static price-earnings ratio is 12 times, yun was bought for $ 12, Tong ren Tang technologies is 5.5 Yuan to buy, Changyu b is 6 Yuan to buy. I themselves has a discipline, who over 20 times times earnings above of, all does not buy, tube you what good unit bad unit, tube people how says, for what does? because by Buffett of value investment theory, has is important of a section, you buy a company of stock, you to wanted to, world again excellent of company, also is difficult to annual keep 40% of growth, so company is too less, it keep 40% of growth, you to with 20 times times of earnings to buy it, why? because value investment theory also has a section, we best in price is inherent value half of when, we buy only pays, dang it of inherent value is 40 Yuan, we will ways to in it of price 20 Yuan, is half of when to buy it, you is exact of WINS grasp: as long as it to inherent value regression, you on earned has 100% has. Then, steady growth of the price is relatively simple, it is to keep annual growth of 20%, just 10 times earnings, when to buy, I give you an example, the Tongren Temple, you can see, from 1993 to the present, the average annual net profit growth of 20%, then we are at 10 times earnings to buy it, you can buy it too easy to make money. Now is not, the market fell to 1000 points, it also has 25 times forward earnings, then we can not buy, you can go and buy something else, you can wait as I got to happen like this, then go buy it. Steady growth stocks relatively simple, cyclical stocks a bit more complicated, but the pricing is also very important. I lift a examples, you if all car industry very good of when, 16 Yuan, and 18 Yuan to buy Shanghai car, then buy it, on committed has errors, buy to has Supreme points, macro-control, it from 16 Yuan off to 4 Yuan money, special cruel, is 's? but with I told of this method, you on will found in 16 yuan of when does not buy, by Buffett of teacher Graham of method, also is simple, on cyclical stock, you to it 7-10 years of profit all plus up, then divided by 7 or 10, on can is out annual average profit, to average profit divided by now of total equity, in multiplied by the 15 times times, this pricing, risk greatly reduced, because so a is, Shanghai car of value is 4 Yuan, again playing a folding 's, best price is 2.6 Yuan, even in Shanghai car performance worst of when, cyclical low points of when, with 2.6 Yuan to buy, you also is not afraid. 2.6 Yuan to buy and $ 16 buy, a difference was too far, as a matter of fact, why are there a lot of people, a few years ago, my Office the following electrician run, said he was going to buy Shanghai Automotive and ChangAn Automobile, visible when a hot danger. Actually bought at that time, knows by now, you want to pay 80%. There is no good what? wait. I bought maotai, be patient and wait for it to be listed for two years, and never touch it until 2003, turning point appeared. In October 2003, the liquor industry there have been a very interesting phenomenon, big bear market of the liquor industry over 5 years, 8 million tons of the country fell to 3.2 million tons, living concept has changed, a lot of people drinking beer, wine, will not drink liquor, liquor-depression. In 2003, liquor sales stopped falling, began to rise, maotai liquor increases, I've been waiting for two years, the stock price dropped to my standard, dynamic static price-earnings ratio of 12 times times earnings, 10 times, I think 35 have big chance came, so I bought. Got a good price. "We can't afford to lose, we can afford it!", remember the words. Here is the "long hold". A four-year bear market down, we can't accept the "long hold". Said that if we four years ago, early throwing off the stock, now would be a happiness, will not be lost 5%,, how can long-term holders? told me if what? that means, when you buy is good company, when you buy a is a good price, so long you hold there is no problem. I give foreign examples, Wal-Mart you bought ten years ago, long held rose er��sanshibei now, 100 years ago to buy Coca Cola, you will earn 20 million times, 20 million times, 10,000 yuan to buy, now is the 200 billion�� Of course, we wouldn't last that long. Lao Zi said, "let it win". Long term holds good stocks of lazy and stupid people than those who were busy every day short of hard working men and wise men to earn more. The past few years, I mobilize many of my friends bought PetroChina (Hong Kong), Mao, Changyu, Yunnan baiyao, double sinks, Tong ren Tang technologies (Hong Kong), and so on. But unfortunately, many of my friends earn two or three bucks, get rid of as soon as possible. And bought a bad stock, not to make money, he has been kept, the result has been set, the more the deeper, $ 40 to $ 4: 40 30 reluctant to cut, to 20 numb, $ 10, he is no longer whether or not. A few years, a bear market, opening accounts to a single, full of junk bond. What reason? well earn money has left the unit, unit has to take. Bad money drives out good money, bad unit out good unit, it is bad to leave stock. Win win on candy, transmission distance between plants. How?, good shares should have been held. Yunnan baiyao, decade has risen 10 times times Queen shares rose nine times ten years times maotai, two years rose twice times China let alone. Seen in this light, bought a good company, good price, but you cannot for long held, finally, profit is not guaranteed. These 12 words, long term, I consider it essential. This long held it, also include the belief, we stock have such idea, when you don't want to hold this stock in 15, 20, all my life, you don't buy it. You have the spirit, in order to buy good stocks. I bought stocks, stocks, no longer moving. I said, no longer is the means, Fundamentals do not change, hold life.����Because it has to make money. Proper dispersion, which is relatively simple, it is a good company, it is a good stock, nor can only buy one, like the Shanghai Airport, Guizhou moutai is so good, could not only buy a, proper dispersion and distribute appropriate to what extent better? I feel 5 to 10 good, not too much, too many of our research, however, my secret Tung and make many calls every year, I often go running listed company, the general meeting of shareholders to participate in, if I were to buy 100 shares, and that I am too busy to care about.����So called proper dispersion. the third method, first, individual stock after. buy individual stocks, it is necessary to buy the industry leading. Buy the best. Want to buy products, sure to buy a pair of sinks; do you want to buy liquor, clear moutai, wuliangye elections; to buy steel stocks, buy Baosteel; buy Airport unit, it is necessary to buy throughput, traffic, supply the largest airport in; buy wine, you can only buy the Greatwall dry red and Changyu; beer, Qingdao Beer is yanjing; dairy, none is Queen shares and mengniu, there would be no choice of ASP and new hope, electronic industry, ZTE, Huawei has listed, that's on the inside, we all want to buy a mixer. But tap no, remains to be seen what the industry leading, but also a further option. Why distinguish between industries? because of differences is too large. There are stable, some industries are not stable and some bright, some already saturated; some risk, some small risk ... ... First, it is important to distinguish between a steady Growth industry and cyclical industry, such as food and beverages, commercial traffic of drugs, is steadily growing sex industry, such as drugs, not because the economic situation is good, I get another medication, eat a bunch, poor economic situation, only eat grain, cold medicine does not eat. Cyclical industry, it is not the same, we biggest mistakes, in terms of earnings, most likely cyclical industry and when, you see, 2004 macro-control up to now, a lot of friends in a loss, a loss in cyclical industries. In early 2004, cyclical industry, steel, cement, petrochemical, automotive, aluminum and so on, these industries, their earnings are very low, at the lowest price/earnings ratio as if only, 4 times, and if you look only at price-earnings ratio, earnings, low, just go buy this cyclical industry, it will be big when, cyclical industry is actually just the opposite, high earnings when performance is a mess, well worth buying. For example, gold, gold prices, gold stocks soared, this time cannot be bought, because gold standard eliminated, gold not up. You have to wait until the price close to the gold mines of gold mining costs when buying. Production cost is probably an ounce of gold mines around $ 220, gold prices fell at the time, gold mining is not profitable, it will stop mining, cessation of mining, and you'll see gold miner's price-earnings ratio is very high, it may be high enough to hundreds, but it was at this time, you go and buy gold stocks, when the gold price per ounce $ 220 to buy gold stocks, it would make a lot of money.����In cyclical industries, is easy in terms of earnings, net assets, and so I think, first of all, distinguish between industries are important. Why should I take another industry, and then choose a unit of the examples, we strive for perspective, select the importance of the industry where? some industries, it's not Daniel shares, look at United States standard and poor's 500 index and Dow Jones can be seen, Daniel shares where?, Daniel shares resulting from the manufacturing, service industry, petroleum and mining industries. You've listed companies comprising the Dow Jones index, most fall into these three industries, we say General Electric, Coca-Cola, Gillette razors, is manufacturing; Wal-Mart, Citibank, HSBC, Bank belong to some famous services; Exxon China petroleum oil, China is part of the extractive industries, Daniel shares was born in these industries. What industries are not Daniel unit? would you like to think of it, public utilities, not Daniel unit. You look at the stock markets in Europe, from the Netherlands market began, nearly 300 years of history, is there a public utilities became Daniel unit for a long time? coal gas, water, bridge, Metro, motorway, tunnel, electricity, such a company, I suggest that you don't buy, does not mean that these do not make money, doesn't mean that they are not stable, but if you want him to make 10 times, 20 times times, too difficult! we have to do a professional investor, there should be an ideology, that is, not too find well organized. Don't want to be a general soldier, not a good soldier, don't want to buy the shares rose 10Investors, not a good investor and we wanted to be a billionaire, our stock selection will be considered taking into account, do not select from public utilities, gas, highways, mass transit railway, which regulated the price of, and you want to get Metro price increases, people want to Maniang, how can you let Metro be Daniel unit? unless their share prices fall to the extreme. Metro fix, highway repaired, billions of loans from banks, large capital expenditure. The manufacturing sector, ZTE you see, it had sold the product to go to Europe, Africa, this is the advantage of manufacturing, it can be sold to the most remote places, you can sell to every corner of the Earth, is one such example of Coca-Cola, Microsoft, Wal-Mart to expand in the Global Bank in its global expansion, these industries can produce Super Daniel unit decade rise 10 times, starting from the birth of Wal-Mart, rose by 500 times. Some of the industry, are you sure you want to enter the sunset industry, we don't buy it. For example, the lucky company, it is very hard, to build the nation's film brand, but in the downhill. Watches, with cell phones low end watches sales down sharply. Because people watch time to glance follow SB. closely can be a mobile phone. Visible, don't buy low end watches in company stock. Luxury watches with added value, not just to tell time, is also a status symbol, luxury watch manufacturers of brand-name exception. Phone has just come out when the Chaoyang industry is incredibly bright, but for now, you very clearly, mobile phone and a sunset industry, mobile is too many, it is no longer profitable. Some of the industry is doomed to not make a lot of money, for example, airlines, I never buy airline stocks, I'll give it a name, that ends ill used, what both sides suffer wrong Ah? it costs continue to rise on the one hand, the airline is the cost of the two, one is gasoline, is a large amount of manual, will always be the price of oil, and the wages, we think back to look at, so many years now, when you see the wages is falling? each city at the rate of increase, we didn't see the decline. Shenzhen Airlines has done the best, and doing so well, it's a plane, but also to 110 persons, ground crew, air hostess, Captain into one aircraft services, cost will never rise, airlines under this head, cost to be bullied. The end be bullied, is the price, old and ticket discounts. Textile industry is doomed to not make a lot of money, low threshold, product homogeneity, which means that no differences, no brand, make a lot of money is difficult. but some industries, both sides will benefit, while lower costs while raising prices. You look at United States Felix Pu Moli company, the production of Marlboro cigarettes, there is Chunghwa Shanghai tobacco group of cigarettes, Panda brand cigarettes, tobacco can continue to the introduction of new technologies, continually reduce costs, tobacco processing equipment improvements year reduced manpower costs, which, in turn, tobacco prices increase year after year. Chinese brand of cigarettes, and $ 1000 per article, than when the cultural revolution has risen many times more. Of course, the tobacco is harmful to people, bad tobacco company social benefits. I advocate who bought shares in support of company beneficial to the community. Good investment targets are CCTV, Shenzhen Special Zone daily, and monopolies, economic efficiency and social efficiency are better. There is no monopoly of good company, Gansu province is the most typical of the readers of the magazine: the magazine tastes elegant and advised people good, read the magazine good physical and mental health can improve the social and intellectual interest in readable, depends entirely on the level of editing was a huge circulation, King in the market for decades, and its costs are low, not journalists, even fee not too much, because they are reproduced. Economic efficiency is also highlighted. Its quality to be constantly running to raise prices is also acceptable. Unfortunately, the reader is not listed. Said tobacco company is an example. We're going to find this kind of industry, it can consistently raise prices, and continually reduce costs, rather than buy airline, higher costs, price reduced. Qingdao Haier, I really admire it, very good, but it's a very unfortunate, fully competitive. Steel products, raw materials continued to rise, but in terms of price competition is extremely fierce and bargaining, prices continued to fall, so I never buy home appliances stocks.����We must distinguish between industry. the fourth section, stock selection of extremely demanding conditions. I tell a story, Germany has a young painter, very hard, daily to paint a picture. But one year down, didn't sell a painting. Then ask an old painter, says I'm so hard every day, how can a picture cannot be sold out. The old artist said, if you can, in turn, 364 days a year to draw a picture, and then one day to sell paintings, I believe you can definitely sell. The examples I listed companies shares, very enlightening, I personally was doing. Is 364 days, to study, to investigate, to think about, from life in the discovery. Don't go to see computer quote of the day, every day prices fell from three to two, two quickly risen to three, does not make much sense. 364 days to go to the annual report, to investigate, to think, time to buy stock in a day, in fact, I said one day, it's no exaggeration, I remember these few years spends time to buy stocks, add up to less than a day, because buying stocks now is too easy, as long as a telephone call, as long as a few on the Web, is done for a few minutes. Certainly does not mean to be on a given day you can buy. Refers to time adds up. To do this, and really not easy. Why study 364 days, it only takes one day to buy stock? because you want to use stock selection is extremely demanding conditions. This demanding to speak pop points, is a million, can choose a good 100 stock. If you can even pick up a, so much the better. What level of demanding? the first is to "thousands of love". We want to buy a stock, it is necessary to comply with a number of conditions, it is necessary to enterprise competitiveness and long life; it is necessary to have the monopolistic advantages, but also management capable; both high growth and debt, and so on. If a number of conditions are not met, don't buy it. That is to have an idea, fried short of friends with this idea a lot difficult to accept, but it's true my own implementation. That is, you buy itA stock, you have to buy myself a House to buy, you buy a House would not say that just buying a, and then every two or three days to sell, change set, right? there's a lot of people live in a House to live your whole life. Because you want to live your whole life just because you have to put their savings to buy a House for decades, great attention to the selection, location, ventilation, sunlight. We buy a stock, like buying a House that pick. Second like the stamp collection, go to collections. Stamp collecting philately, stamps when the cultural revolution, not just sell it, know more more valuable. Shares of good companies too, over time, will be worth a lot, when oil stocks often have fixed, maotai often have a fixed time, Yunnan baiyao often have a fixed time, but a long time, you know, it will give you increased 15% to cent per year. If there are 1 million, an annual growth of 20%, 40 years later, is a billionaire. But we are also very easy, you can go on holiday, go, go fishing. But the premise is good, good of you to treasure. Collection of stamps. How to stock selection in the most demanding conditions? that is, the companies which have to comply with the standard, "this is the thousands of pet". I for one, I do not speak the name of the company, about its advantages, for everyone to look at, and how thorough and meticulous research all aspects of listed companies, stock selection criteria if we can follow this demanding to stock selection, even if you do not meet this stringent standard, at least one thing, we won't buy junk bond. 1. it has the industry but also the national famous "" size, top brand, has a long history, steady profitability and vitality of this powerful enterprise is best for long term investment; 2. products unique in the world, that is, left the place where it is located, not somewhere else. Think a lot of the Japanese approach, has more than 10 years has been made out. Company's own technical staff, to produce it to a nearby place, not, nor will produce exactly the same product. ��ˣ�����ᱻ�κ������ҵ���ƣ�2.��IJ�Ʒ���»�ѹ������Խ��ѹԽֵǮ�������ݲ�ƷҪ������ǧ��������Ԫһƿ����Ĵ����ֵ�͸ߴＸ���ڣ������Ҫ����豸�ؽѲ�����ʴ����ֵ����ʱ����ᱻ��̭������ʱ��Խ��Խ����4.��IJ�Ʒ���м�ǿ���������ۡ�����������ܹ�����ԭ�����Ǽۺ�ͨ�����͡�������Ͷ���߱�ֵ��ֵ����Ҳ����һ�����˵���ҵ�У������ҵ��������ҵ����ͬʱ��ۣ�������Ե���ҵ������ɱ�ۣ�һɱ��ɱ��5.��IJ�Ʒ�ڱ�̫�ã���������쵼�˶����������ι�棬�������ƶ������ɱ�ȴ���ߣ�6.��IJ�����Ϊ���ո��ӣ����ǹ���Ӧ���г�ռ����ֻ��ǧ��֮һ���ң����з�չ�ռ䣬�㲻�õ�������г��ᱥ�ͣ�7.���ÿ�ɾ�����ָ�ꡢ���ʲ��������ڱ���ҵһֱ����ǰé���������������ƽ�����30%�����ë���ʸߴ�80%������ƽ���������߾��������й�˾֮�ף�8.��ĸ�ծ�ʼ��ͣ������յ�������ǿ����������ֽ�dz���ԣ����������һ��Ǯ���Ϳ�����������Ͷ����������ģ���㲻�õ�������ɼ��ʡ�Ȧ���Ǯ����̯�����Ȩ�棻9.��IJ�Ʒ��δ��������յ�����Ԥ����������Ӧ�տ���ծ�����ţ�10.��Ĺ����dz����㣬һֱ������ҵ������÷������³��������У��Dz�Ʒ���͵�����ߡ�����ҵ�ļ���Ȩ���� Everyone laughed, and knew that one enterprise. My simple comments on several items. You see, most of the company, the product backlog are afraid of. Goods cannot be sold out, they are a dime a dozen. Computer, chip, in a warehouse in the five-year, $ 10,000 worth of computers, a five-year, $ 1000 are cannot be sold. Cookies, for five years, you still could sell money?, Board for five years, were yellowed paper, can you sell it? the company's products, are not afraid of the backlog, it backlogs, the longer, the more dime. Its main production equipment, the cellar, no maintenance, does not rust, obsolete, devaluation, on the contrary, the cellar will add value, and why? it of microbial populations in more and more rich, wine and products get better and better. In turn, many of our heavy stock, such as airlines, aircraft are the most important cost, essential equipment, flying out after a few years, it will spend money to buy new aircraft, the shareholders to earn any money? it's easy to earn money from the passengers, but also to buy new aircraft, and the new aircraft are expensive. Why we do not buy those devices are not obsolete? and many more. Maybe he just doesn't, our stock selection, to the most discerning eye to selected stock. Lastly, I want to boil down to, to investment success, use two words can be summed up, one sentence is, 364 days a year carefully select the best company, the second sentence, and patiently waiting, price reached waiting for me, good good share price, on the list. Do not waste time members, thank you!r>2005��6��18�������ڵ��ݽ�