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Burton Wilde - My Insights on Value Investing

Burton Wilde - My Insights on Value Investing

When a bull market arrives, everyone talks about how to make money easily, but a bear market brings panic and uncertainty.

The shift between bull and bear markets creates an extremely emotional cycle, often causing investors to overlook the importance of a stable investment philosophy amid fluctuations. The current Hong Kong stock market is undergoing a severe adjustment, and this bearish atmosphere necessitates the establishment of a robust investment system and emotional management strategy.

Today, I will share with you the legendary acquisition case of Warren Buffett and The Washington Post. I hope everyone can stabilize their emotions in the bear market, adhere to their investment principles, and maintain confidence in future prosperity.

Warren Buffett’s Investment Journey

In 1972, The Washington Post gained prominence for its in-depth coverage of the Watergate scandal, receiving important awards that highlighted its journalistic professionalism, quickly becoming one of the most famous newspapers in the United States. However, by 1973, the company faced significant challenges. The Washington Post was under pressure from the White House, and there were rumors in the market that the White House might revoke the newspaper’s operating licenses for two television stations in Florida. This segment of the business contributed nearly one-third of the company’s profit income. These unfavorable factors led to a consecutive decline in the stock price.

But precisely when the company was experiencing panic selling, Buffett went against the trend and began continuously buying shares of the company in 1973. By the summer of 1973, Buffett held a 9.7% stake in The Washington Post. Buffett firmly believed that the market value of the company should be between $400 million and $500 million. However, at that time, the market value was only $100 million, and in the following years, the company continued to be affected by the “Watergate scandal” and the bear market, causing Buffett to incur losses of up to 20% in the short term.

It was not until 1976 that the stock price returned to the level at which Buffett had purchased it.

Why Buffett Was So Resolute

At that time, The Washington Post owned four television stations and two radio stations, and these licenses were very difficult to obtain. Moreover, the company’s owner, Katharine, maintained close relationships with numerous U.S. dignitaries, ensuring The Washington Post’s influence across the United States.

Simultaneously, the company had a 63% market share, with over two-thirds of adults reading it. The company’s subsidiary, “Newsweek,” reached its peak advertising revenue of $72.5 million in 1972, and the magazine was sold in over 150 countries and regions worldwide.

The extensive circulation meant that advertisers preferred The Washington Post, indicating enormous growth potential for the company’s advertising revenue in the future.

Therefore, Buffett was determined to bypass conventional investment doctrines (such as his mentor Graham’s value investing philosophy: net current assets should be at least 30% higher than the stock price) and focus more on the company’s future profit potential, adopting a more forward-looking and growth-oriented investment strategy.

The cost of his investment in The Washington Post eventually reached $10.6 million, and by 2005, the value of this investment had grown to $1.3 billion, excluding dividend income. Buffett eventually sold this portion of assets after 2000, as the rise of the internet limited the growth of traditional newspapers.

What can I learn

The Washington Post’s market value at that time was $100 million. However, the company had franchise rights and a large user base, which, understood from today’s internet perspective, means “having a substantial traffic that can be monetized.” Therefore, even with just $100 million, Buffett believed that this value had a strong margin of safety.

If we look at a three-year time-frame, Buffett’s investment return rate is 0, and The Washington Post has clear market advantages but still lacks market recognition. However, if we extend the timeline to 27 years, The Washington Post’s average annual return rate is 19.5%.

From a 27-year perspective, The Washington Post is a good company, but for a good company to become a good stock, it may take the market a long time to adjust.

In the era of the internet, the pace of change in the world has accelerated. No matter how good a company is and how good its business is, it cannot outpace the changes brought about by the times. Even a good company’s business needs to move with the times.

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Burton Wilde — Mastering the Art Through Market Declines

As Warren Buffett’s partner and a close friend known for his insightful remarks, Charlie Munger is an undisputed investment master. Buffett himself once praised Charlie Munger by saying, “Charlie pushed me in a different direction, the power of his thinking expanded my horizons. I evolved from an ape to a human at an extraordinary speed, or else I would be much poorer now.” As an exceptional investment master, how does Charlie Munger navigate through market downturns?

How Investment Masters Deal with Market Crashes

“If you live long enough, sometimes you won’t need to chase investment trends.” This statement is attributed to Munger during the late 20th century when Wesco Financial stocks under Berkshire Hathaway experienced a significant decline.

Munger has encountered four major bear markets throughout his investment career, with the most severe occurring in 1973–1974. During the “Nifty Fifty” market, where the market granted a high valuation premium to a group of leading companies with moderate growth but strong profit stability, Munger had 61% of his funds invested in blue-chip, stamp-worthy companies. Following the collapse of the “Nifty Fifty,” which led to a maximum 48% decline in the S&P 500 index, Munger incurred losses of 31.9% and 31.5% in the respective two years. In that worst bear market since the Great Depression, this portfolio inflicted serious damage on his investment portfolio.

The second occurrence was during the third oil crisis in 1990. With the Middle East region in continued turmoil, the U.S. stock market experienced a significant downturn. Berkshire Hathaway’s stock price dropped from $8,625 per share at the beginning of the year to $5,600 in October, marking a 35% decline. Despite this, Berkshire Hathaway displayed optimism, as articulated in that year’s shareholder letter: “The primary reason for the depressed stock prices is pessimism, sometimes widespread and at other times limited to specific industries or companies. We look forward to doing business in such an environment, not because we are naturally pessimistic, but because it allows us to acquire more good companies at favorable prices.”

Another factor that sets Munger apart from most of us ordinary individuals is that he is never enticed by investments outside his circle of competence. He once stated, “We have three baskets: in, out, and too tough. We have to have a special insight, that we think is not generally true or obtainable by the average investor, into a business where we think we have a competitive advantage.” Investors should heed his advice: “If an investment is too difficult to understand, we pass on it and go on to the next. After all, there are a lot of things that are easier.” This mindset enabled him to steer clear of the bursting of the dot-com bubble from 2000 to 2002. During that period, the S&P 500 plummeted by 40%, with a maximum decline of 49%. Munger and Buffett, facing the irrational exuberance of the internet bubble in 1999, refrained from investing in internet stocks. They referred to it as an “irrational boom.” Following the burst of the internet bubble, Munger and Buffett avoided substantial losses by adhering to their investment principles focused on the intrinsic value of companies rather than market prices.

In the pessimistic market of 2008 during the subprime mortgage crisis, Buffett published “Buy American. I Am.” Five months later, the U.S. stock market began to rebound, marking the start of a decade-long bull market. Buffett and Munger emphasized the importance of emotional stability at the subsequent year’s shareholder meeting, highlighting that investors should use the market rather than be used by it.

Based on historical experience, my approach to downturns primarily relies on:

1. Avoiding speculative sectors; staying away from crowded places.

2. Emphasizing solid fundamental companies; focusing on the value of the company.

3. Maintaining a positive mindset when facing the future; selling high and buying low.

One of the best lessons investors can learn from past history is that there is no good time without bad times. In a prolonged investment journey, there often exists significant short-term losses during certain phases. If you cannot accept short-term losses, it becomes challenging to reap long-term market returns.

“If you cannot calmly navigate through two or three market declines of over 50% within a century, you are not suited for investing. In comparison to investors who can rationally handle market fluctuations, your investment returns are likely to be relatively mediocre.”

“Maintain a positive mindset and use leverage cautiously. In my view, the greatest risk in investing in the stock market is not the fluctuation of prices but whether there will be permanent losses in the future. In fact, those prepared to buy stocks should anticipate price declines because as market volatility increases, there is a greater chance of encountering exceptionally low prices in some good companies.”

Regarding leverage, Munger advises that most people should avoid using it:

While leverage can magnify gains during market upswings, it can also amplify losses during market downturns, potentially leading to the complete depletion of capital. Financial leverage increases the risk and uncertainty of investments, and prudent investing should be based on rational analysis and risk control. He suggests that investors should focus on growing intrinsic value rather than relying on external borrowing to ensure long-term wealth accumulation and capital safety.

After all, “No one wants to get rich twice.”

Investing is a matter of choices, and, of course, it is also about how to face changes with what kind of attitude after making those choices. Munger believes that, “Many people with high IQs are terrible investors because of their character flaws. I think excellent character is more important than the brain; you must strictly control those irrational emotions. You need calmness, discipline, be indifferent to losses and misfortunes, and, likewise, not be intoxicated by excessive joy.”

Therefore, restricting investments to alternative projects that are simple and easily understandable for oneself, while continuing to pursue wisdom and patience in the unpredictable market, becomes particularly crucial. During market downturns, focusing on assets with sufficiently high safety margins, using leverage cautiously, closely tracking fundamentals, and persisting through bull and bear markets will eventually lead to success.

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Burton Wilde's Investment Mastery: Business Wealth Club's Optimal Platforms

Burton Wilde's Investment Mastery: Business Wealth Club's Optimal Platforms

You have accumulated some knowledge about cryptocurrencies and are eager to delve deeper into your first cryptocurrency. However, you are unsure which cryptocurrency exchange to choose. There are too many cryptocurrency exchanges, and without the advice of business club professionals, you might end up selecting one that doesn’t meet your needs, thereby disrupting your initial cryptocurrency experience.

Don’t choose a cryptocurrency exchange directly: Before making metaphorical attempts, it is necessary to understand their functions, various features, and different types.

What exactly is a cryptocurrency exchange?

Cryptocurrency exchanges are simply platforms (digital market) that enable you to buy, sell, and trade your cryptocurrencies. They also provide storage for cryptographic and price discovery through trading activities. Hundreds of cryptocurrency exchanges offer a variety of digital assets, different levels of security, and associated fees, and you need to choose the right exchange that fits your needs, budget, and security expectations. In short, choose an exchange that aligns with your goals.

We, the Business Wealth Club, help you identify some key features on exchanges.

A) Additional Features

Geographical considerations play a crucial role in cryptocurrency trading. Your location can potentially limit your cryptocurrency transactions on specific exchanges due to varying state or national regulations. To gain in-depth insights into geographical restrictions affecting exchanges, feel free to reach out to the official representatives of the Business Wealth Club for comprehensive guidance.

B)Security

As cryptocurrencies are not backed or protected by any central authority (unlike how our money is safeguarded in banks), some exchanges offer insurance policies to protect users’ digital assets from hacking or fraud.

Look for additional security measures, such as KYC (Know Your Customer) and two-factor authentication. Apart from your username and password, the exchange must have official registration with a governing body and foundation management. Additionally, obtaining dual licenses from the U.S. MSB (Money Services Business) and NFA (National Futures Association) ensures the highest level of security for investors’ funds.

Therefore, whether you intend to keep your crypto assets on the exchange or store them for a limited time before transferring them to your wallet, the security of the exchange must be a top priority.

C) Fees

Exchange fees can be a fixed price, but they are typically a certain percentage of your trade, although some exchanges may charge fluctuating fees based on price volatility. The amount may vary depending on the currency you are trading, and it may differ if you are a seller or a buyer. Some exchanges may have a higher fee structure (which may be prohibitive for many) but increased protection and insurance (if available) might be worthwhile. Before making payments, make sure you understand the fee structure and charges.

D) Liquidity

An exchange should have sufficient trading volume to ensure that the assets you hold have reasonable liquidity, meaning you can sell them at any time. Typically, the most popular exchanges are those with the highest trading volume. The reason is that when a significant amount of trading occurs within any given exchange at a given time, you are more likely to buy or sell your cryptocurrencies at the most favorable prices.

E) Offered Coins

Are you focusing on popular tokens like Bitcoin or Ethereum, or are you interested in smaller, newer, and lower-market-cap altcoins? If you are looking for the former, any given exchange is likely to have them. For the latter, you may need to look around more, as not every exchange offers every one of the existing thousands of cryptocurrencies. If in doubt, I recommend sticking to more mature cryptocurrencies. Never invest in anything you cannot afford to lose, regardless of the cryptocurrency you are considering.

F) Educational Tools  When you are a beginner, you may not know where to find information. It is easier when most or all of what you need is on one platform. Some exchanges offer courses and articles to help you get started, understand more about the crypto market, and more, while others provide rewards for completing quizzes related to different tokens. From an educational standpoint, this kind of interaction adds more value. Especially noteworthy are exchanges that have AI-analyzed trading signal features.

Business clubs choose the services offered by cryptocurrency exchanges.

1)Brokers (Mentor Assistants)

While not purely cryptocurrency exchanges, some traditional securities brokers can act as intermediaries between the cryptocurrency market and investors looking to buy and sell. You simply visit an online broker and purchase cryptocurrencies at the prices set by the broker.

2)Traditional Cryptocurrency Exchanges

Some exchanges facilitate transactions using cryptocurrencies, while others allow users to trade cryptocurrencies with fiat currency.

This type of exchange is supervised by a third party, helping to ensure smooth user registration and transactions. They can quickly and easily link to your bank account for cryptocurrency purchases but often charge fees based on asset purchases. Most centralized cryptocurrency exchanges (CEX) permit users to buy and sell digital assets using both fiat currency and other cryptocurrencies.

3)Platforms with STO Compliance Token Issuance Capability

STO (Security Token Offering) has become the most touted legal and compliant new coin issuance model in the cryptocurrency market in 2024, obtaining multiple attestations from the SEC. This model is expected to attract new capital into the market.

I’m sure you’ve heard of platforms like Coinbase, Binance, and others — these aren’t mythical creatures, pet names, or random catchphrases; they are just a fraction of the many cryptocurrency exchanges. Just as you wouldn’t pick an unlikable color and the wrong size for your shirt, the same goes for cryptocurrency exchanges — there’s no one-size-fits-all. However, at the Business Wealth Club, we have tailored and selected the best exchanges for you.

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Burton Wilde | Navigating Investment Avenues Through Stock Splits

Burton Wilde: Navigating Investment Avenues Through Stock Splits

Thousands of stocks are traded on exchanges around the world, each with a different price. Some stocks are worth a few cents, while others are valued in the hundreds of thousands of dollars. Due to the significant price disparity, investors face a dilemma: whether to buy a few high-priced stocks or a large quantity of low-priced stocks. Investors with less capital often opt for the latter, as it offers higher liquidity and requires less commitment for each purchase.

Nevertheless, businesses have a strategy to overcome the psychological hurdle associated with acquiring expensive stocks — it’s called a stock split. The mechanics of a stock split resemble dilution, wherein the per-share value decreases, yet the company’s overall value stays constant. This approach enhances liquidity, enabling shareholders to engage in more extensive stock trading.

— Stocks maintains an equivalent overall value.

Stock splits also don’t have a fixed number for splitting. The most common stock split ratios are three-for-one (3:1) and two-for-one (2:1). Essentially, this implies that for each share held before the split, every shareholder will possess two to three shares after the split.

How does a stock split work?

Assuming a company’s current stock price is $200 per share and it plans to undergo a stock split. Despite there being no fundamental difference between 100 shares of $20 stock and 10 shares of $200 stock (20 x 100 shares = $2,000 market value versus 200 x 10 shares = $2,000 market value) given the same financial condition, there is a psychological barrier to buying such stocks, and the upfront cost for investors is also higher. In this example, the company could perform a ten-to-one stock split, meaning their $200 stock price would be split into ten $20 stocks. As mentioned earlier, the overall value or market capitalization of the entire company will remain unchanged.

To understand, it must be noted that market capitalization is calculated by multiplying the number of outstanding shares by the current market price per share. Using our previous example, if the company splits its stock ten-to-one, each share is now worth $20. Then, after the split, each share held will be equivalent to ten shares (200 x 1 share = $2,000, while 20 x 10 shares = $2,000). The total value of the company remains unchanged.

For simplification, visualize it like a pizza. When cut into ten slices, each slice is smaller than the original whole pizza. However, if you put them back together, the size of the pizza remains the same.

Key indicators per share, such as Earnings Per Share (EPS), are affected by stock splits, particularly when more shares are in circulation. This will proportionally reduce future per-share earnings numbers based on the split ratio. A two-for-one split earnings per share by two, a three-for-one split earnings per share by three, and so on.

Reverse stock split

A stock split involves multiplying the outstanding shares by the split ratio of the stock price. A two-for-one split will double the outstanding shares. As you might guess, reverse stock splits operate in the opposite process. For instance, a reverse stock split of two-for-one will reduce the outstanding shares by half and double the current stock price.

One of the most common reasons for a reverse stock split is to ensure that the company’s stock does not get delisted from the stock exchange. Delisting may occur when the stock falls to unprecedented new lows. It may start to be considered a penny stock, diminishing investor confidence in the company’s stability. A reverse stock split has the potential to restore investor confidence in the short term and provides the company’s management with time to improve the business fundamentals.

Similarly, a reverse stock split still does not change the market value. However, for example, since earnings can be divided into fewer shares, earnings per share will increase. Nevertheless, in the long run, this is not a sustainable strategy, as total earnings must grow at some point. Investors are also not easily deceived. Artificially boosting stock and other per-share metrics is often perceived negatively by many.

Unless there is genuine internal growth within the company, a reverse stock split typically only serves to offset the possibility of being delisted from the stock exchange.

Enthusiasm of retail investors

Although the fundamentals of the company remain unchanged after a stock split, the enthusiasm of investors often shifts. When the stock price becomes more affordable (in terms of price rather than valuation), retail investors can purchase more shares than before. Investors who previously couldn’t afford to buy a single share of the stock may now have the opportunity to become shareholders at the post-split adjusted price.

A relatively recent example of this phenomenon is Amazon (NASDAQ: AMZN). On June 6, 2022, Amazon conducted a twenty-one-for-one stock split, making its existing shares, valued at approximately $2,500 before the split, now priced at only $125 per share. Despite the unchanged valuation, the stocks became more accessible than before.

To convey investor excitement, data from Google Trends, accompanied by illustrations, showed a significant surge in search queries for “AMZN” during the highly anticipated stock split week. However, Amazon is not the only stock attracting attention due to a stock split. Google, Tesla, and Shopify have also split their stocks in 2022, making it easier for investors to access their shares. Some investors may argue that these stock splits are unnecessary since many stocks have now fallen to 52-week lows anyway.

Stock splits are straightforward, as only the total number of issued shares and the price undergo changes. However, delving into more technical details, especially per-share metrics, can be confusing.

The occurrence of stock splits may have several reasons, such as increasing the number of issued shares and making stocks more accessible. However, as mentioned above, there are many reasons for initiating a reverse stock split, with the most common being to prevent delisting.

The split ratio is typically three-to-one and two-to-one, but for companies with exceptionally high stock prices, larger split ratios are certainly possible. Regardless of how cheap the stock may appear after the split, it must be remembered that the fundamentals and valuation remain unchanged.

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Burton Wilde Stresses AI's Role in Financial Decisions

Burton Wilde Stresses AI's Role in Financial Decisions

Banks of the future will leverage generative artificial intelligence to influence customers’ financial decisions, a groundbreaking move that reshapes the landscape of financial institutions. Burton-Wilder of Lane Wealth Club notes that this complex technology is both exciting and daunting, with the potential to permeate every aspect of banking.

As American banks explore incorporating generative AI into their operations, its influence ranges from designing personalized financial products to training employees and managing social media platforms.

Embracing Generative AI in the New Generation of Banking

With the evolving AI landscape in finance, more banks are experimenting with generative AI. This innovative approach differs from traditional predictive models, involving the creation of entirely new concepts based on extensive data sets.

While AI has long been used in banking for tasks like fraud detection and risk analysis, generative AI opens up new possibilities. Technologies represented by chatbots like ChatGPT and Google Bard are gaining increasing attention, sparking curiosity among banking leaders and, in some cases, caution.

Unlocking Personalized Financial Experiences

Generative AI can tailor products to customers using personal spending and banking data, leading to a paradigm shift in banking. The concept of online banking “nudging” customers towards wise financial decisions is emerging, potentially enhancing their financial resilience. AI’s ability to analyze voice patterns could extend to detecting callers’ emotions, enabling banks to identify vulnerable or distressed clients and increase engagement.

While the potential benefits of generative AI in banking are enticing, trust remains a key factor for its widespread adoption. Burton-Wilder of Lane Wealth Club emphasizes that customers must trust that their data will be used responsibly to protect their interests.

The delicate balance between utilizing data to help customers manage financial outcomes and maintaining trust, data security, and reliability remains a focus. For example, credit card applications might prompt banks to recommend short-term overdrafts based on a customer’s financial status, raising questions about the credibility of such personalized suggestions.

AI has the potential to gauge a person’s understanding of financial products, becoming a powerful tool for identifying potentially vulnerable clients. A survey conducted by a banking AI platform shows that nearly a quarter of Americans have not received personalized communications from their banks, leading them to overlook financial information.

Burton-Wilder of Lane Wealth Club says the transformative power of AI lies in shifting customer support from passive to proactive, enabling early identification of potential financial distress.

Changing Landscape of Banking

As traditional banking institutions strive to adapt to the evolving financial landscape, the shift towards mobile banking is apparent. Major commercial banks in the U.S. have closed many branches, reflecting changing consumer preferences. Burton-Wilder of Lane Wealth Club points out that a significant portion of American consumers (about 20%) haven’t visited a bank branch in the past year.

This shift accompanies increasing reliance on simple, user-friendly mobile applications, with over one-third of adults considering it the most important interaction with their bank. The interplay of technological advancements, changing consumer behaviors, and the integration of generative AI paints a dynamic picture of the future of banking.

In the evolving field of banking, the integration of generative AI brings both hope and challenges. As banks use AI to reshape financial decision-making, the key question emerges: can the industry build and maintain the trust needed for widespread adoption? The fusion of technological innovation, personalized experiences, and ever-changing consumer preferences lays the foundation for a transformative journey in the financial sector.

How will banks find the delicate balance between using AI to benefit customers and ensuring data security and reliability? As financial institutions embark on the journey into the realm of generative AI, shaping our interactions and trust in banks, the future is unfolding.

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Burton Wilde — 2024 U.S. Stock Market Optimal Strategy

Burton Wilde: 2024 U.S. Stock Market Optimal Strategy

In 2023, the market experienced fluctuations, creating a lively atmosphere. Fortunately, the outcome was not perilous, and despite the turmoil, the three major U.S. indices showed commendable performance at the year-end. After the painful decline in 2022, there was some solace for the psyche in 2023, particularly with the sweeping tide of AI.

The end of 2023 marked a moment of reflection and foresight. Despite the turbulent journey characterized by ups and downs, the market finally found some footing. This stabilization alleviated the sense of frustration among investors, especially considering the heartbreaking downturn in 2022. The U.S. indices, symbolic thermometers of economic vitality, concluded the year with praiseworthy performance, partly driven by the surge of artificial intelligence technology.

The revolution of artificial intelligence carries transformative potential, serving as a beacon of hope and a driver of recovery. Its influence spans across various sectors, redefining operational efficiency and customer experiences from healthcare to finance, customer service to logistics. Consequently, companies at the forefront of AI innovation witnessed soaring valuations, reflecting the market’s demand for forward-thinking, tech-savvy enterprises.

However, as we stand on the cusp of 2024, the market’s recovery has triggered cautious optimism. While the rise of artificial intelligence has been swift, leading to the resurgence of indices, signs indicate that the initial enthusiasm may be waning.

The Lane Club speculates that enthusiasm for generative artificial intelligence might experience a downturn, and this type of AI has been a standout performer in the market rebound of 2023. If this prediction holds true, there might be a need to reassess tech stock valuations and shift towards a more conservative investment strategy.

Looking ahead to 2024, the investment landscape may paint a complex narrative. The global economy continues to feel the aftershocks of the pandemic and geopolitical tensions, posing significant factors. Monetary policy, inflation rates, and supply chain restructuring will continue to influence market dynamics. The Federal Reserve’s interest rate decisions remain a crucial observation point, and the economic policies of major entities like China and the European Union will also be key areas to watch.

Furthermore, advancements in the technology sector will be closely monitored. The industry’s resilience will face challenges from regulatory resistance, antitrust issues, and the looming specter of ubiquitous cyber threats. Meanwhile, traditional sectors once deemed stable foundations may need to further embrace digital transformation to maintain relevance and competitive advantage.

While 2023 provided a breather from the previous year’s decline, 2024 is filled with both caution and opportunity. The market may favor those who are prepared, adaptive, and innovative. For astute investors, the coming year will demand keen insights into emerging trends, a steadfast commitment to due diligence, and a focus on creating long-term value.

Here are some key insights and observations from the Lane Club report:

1. Industry Weight: The IT industry remains overweight, indicating optimism in Citigroup’s research. This suggests a belief that the industry’s performance may outpace the broader market.

2. Sub-Industry Performance: Within the IT sector, the software and services sub-industry is under focus due to its profitability in sales and revenue, driven by the growing demand for digital solutions and services across industries.

3. Valuation Concerns: Despite positive growth expectations, concerns arise over the high valuation of the industry. This may imply stock pricing premiums, limiting upside potential or increasing the risk of corrections.

4. Semiconductor Sub-Industry: The report indicates a mixed outlook for the semiconductor industry. While valuation challenges are less pronounced compared to other areas, the growth trajectory seems to rely on a stable but slower pace.

5. Impact of Large Tech Companies: Major companies like Apple, Microsoft, and Broadcom significantly influence the overall performance of the IT industry due to their substantial industry weights. Their individual performances can shape the industry’s direction.

6. Top Buy-Rated Stocks: Teradata Corp., Arista Networks Inc., and Corning Inc. stand out with high Expected Total Returns (ETR), indicating analyst optimism about their prospects.

7. Sell-Rated Stocks: NXP Semiconductors and Skyworks Solutions have negative ETRs, suggesting a bearish stance from analysts.

In summary, according to the Lane Club’s perspective, while the IT industry, especially software and services, is viewed favorably, there are nuanced differences, particularly in the outlook for valuation and sub-industries like semiconductors. The influence of large-cap tech stocks is significant, and specific stock recommendations provide a detailed view of the industry’s prospects.

The top buy-rated stocks from the S&P 1500, ranked by ETR, include Teradata Corp. (ETR 30%), Arista Networks Inc. (ETR 27%), Corning Inc. (ETR 22%), Juniper Networks Inc. (ETR 22%), GoDaddy Inc. (ETR 21%), HP Inc. (ETR 19%), Apple Inc. (ETR 17%), VeriSign Inc. (ETR 17%), and Microsoft Corporation (ETR 17%).

Sell-rated stocks, ranked by ETR, include NXP Semiconductors N.V. (ETR -33%) and Skyworks Solutions Inc. (ETR -23%).

The Lane Club highlights key points for the recommended companies:

1. Teradata Corp. (TDC): Teradata specializes in providing big data analytics and data warehouse solutions, with a strong position in data warehousing and cloud services.

2. Arista Networks Inc. (ANET): Arista Networks offers high-performance network solutions primarily in the data center space, capitalizing on the increased demand for efficient network devices with the growth of cloud computing and data centers.

3. Corning Inc. (GLW): Corning is an innovative company focused on glass technology, ceramic science, and optical physics, with widespread applications in display technology, communication networks, and more.

4. Juniper Networks Inc. (JNPR): Juniper Networks is a provider of network equipment and solutions, focusing on routers, switches, and network security, benefiting from the upgrade demand in network infrastructure and strong performance in cybersecurity and cloud computing.

5. GoDaddy Inc. (GDDY): GoDaddy provides domain registration, web hosting, and online marketing services, positioned to benefit from the increasing shift of businesses to online platforms.

6. HP Inc. (HPQ): HP is a global company offering personal computers, printers, and related services, maintaining a solid position in the PC and printing markets and investing in new technologies like 3D printing.

7. Apple Inc. (AAPL): Apple is a global technology company known for its products such as iPhone, iPad, Mac, Apple Watch, and Apple TV, with strengths in brand loyalty, product innovation, and ecosystem integrity.

8. VeriSign Inc. (VRSN): VeriSign manages global top-level domains like .com and .net, playing a crucial role in internet infrastructure with stable income sources and a high market share.

9. Microsoft Corporation (MSFT): Microsoft is a global leader in software, with a dominant position in cloud computing, office software, operating systems, and services like LinkedIn, demonstrating continued innovation and business expansion.

These companies hold significant market positions and technological advantages in their respective fields, justifying the high ratings given by analysts based on Expected Total Returns (ETR). However, each company faces specific market dynamics and challenges, so investment decisions should consider broader market and economic factors.

As always, AIGC’s big wave is highly anticipated, as is the software services industry, with a preference for industry leaders.

A few fundamental principles:

1. “Stay away from market noise and focus on the fundamentals of companies.”

2. When considering investments in the AIGC field, it’s crucial to have a deep understanding of the potential of these technologies and how they will impact specific industries and companies in the future.

3. Investors should focus on companies with strong technological capabilities, clear business models, and robust financial positions in the AI and global connectivity field.

4. In the face of short-term market fluctuations, maintaining a long-term and strategic perspective is crucial.

The Lane Club provides professionally informed investment strategies, enhanced by the tools from AI TURBO. Whether in the stock market or cryptocurrency, these tools make portfolios and investment decisions more aggressive and highly effective.

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Burton Wilde's First Principles Interpretation of AI Evolution

Burton Wilde's First Principles Interpretation of AI Evolution

In the AI era, The Lane Club discovers that the concept of first principles can help us adapt to the rapid changes in technology, fostering an open and flexible mindset, significantly increasing the possibility of disruptive innovation. By embracing and leveraging the continuous evolution of technology, we can drive more extensive and profound innovations.

The essence of the innovation process typically involves recombining existing elements in novel and creative ways, a process often filled with uncertainty and trial and error.

AI large models demonstrate tremendous potential in this regard:

1. Data-Driven Insights: AI large models can process and analyze massive amounts of data, extracting patterns and insights to guide new innovative attempts.

2. Pattern Recognition and Prediction: AI models excel in identifying complex patterns and making predictions. In the innovation process, this can help identify potential opportunities or predict the success probability of certain combinations.

3. Creative Combinations: AI large models can explore vast possibility spaces, attempting various innovative combinations. They can surpass human inertia in thinking, trying combinations that humans might not consider.

4. Rapid Iteration and Trial: An important advantage of AI is its ability to iterate quickly. Compared to manual experimentation by humans, AI can simulate and test thousands of different combinations in a short time, rapidly iterating to find the most effective solution.

5. Fusion of Cross-Domain Knowledge: AI large models can integrate knowledge from different domains, crucial for interdisciplinary innovation. They can establish connections between different fields and propose entirely new solutions.

AI large models indeed have unique capabilities in promoting innovation, especially in combining different elements, rapid trial and error, and discovering new patterns. However, human intuition, experience, and creative thinking remain crucial in this process, with AI serving more as a powerful assistant, expanding human innovation capabilities.

First Principles and AI

1. Mind-Machine Dialogue: First principles focus on inner awareness and calm, helping people maintain clarity and balance in the rapidly evolving AI era. Understanding how the human mind works is crucial for AI developers to create more empathetic and human-centered AI systems.

2. Mindset for Technological Change: As AI technology advances, many may feel uneasy or fearful. First principles provide a way to accept and adapt to these changes, helping people find inner peace amid technological revolutions.

Innovation and AI

1. Pushing Technological Boundaries: Innovation is key to driving AI development. From algorithm improvements to exploring new applications, innovative thinking is the driving force behind AI technology progress.

2. Collaboration between Humans and AI: Innovation is not only reflected in the technology itself but also in how we use technology. Through innovative applications, AI can become an extension of human efforts, helping solve complex problems and improve quality of life.

Integration of Innovation and AI

1. Role of First Principles Thinking in AI Development: The first principles thinking, with its characteristics of openness, adaptability, and deep awareness, is crucial for effective innovation in the AI era. This mindset encourages AI developers to focus not only on the functionality of the technology but also on its impact on human life.

2. Addressing Challenges of the AI Era: In an era of rapid AI development, first principles and innovative thinking can help people better adapt to technological changes, developing a harmonious and symbiotic relationship with AI.

The Lane Club has invested significantly in the development of a super AI application tool named “FinTech&AI Turbo,” led by Silicon Valley engineers for five years. It is born out of this wave of innovation, striving for the great cause of financial technology.

The interaction between the waves of innovation and AI reveals a multidimensional reality where technological innovation and a deep understanding of the human inner world can coexist. At this intersection, we not only see the infinite possibilities of technology but also the depth and breadth of human wisdom. We can better understand and harness AI technology to create a future that is more harmonious, effective, and human-centric.

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Storing Digital Assets: Burton Wilde Unveils Essential Strategies

Storing Digital Assets: Burton Wilde Unveils Essential Strategies

Lane Club, according to investor reports, acknowledges that all investments come with risks, and some investors consider cryptocurrencies to be one of the riskier investment options. If you plan to invest in cryptocurrencies, these tips from the club can help you make informed decisions.

1. Investigate Exchanges:

Before diving into investments, familiarize yourself with cryptocurrency exchanges. With over 500 exchanges estimated to be available, conduct research, read reviews, talk to experienced investors, and then proceed to the next steps. It is crucial to choose exchanges that comply with important regulatory licenses like MSB and NFA.

2. Understand How to Store Your Digital Assets:

If you purchase cryptocurrencies, you need a place to store them. You can keep them on exchanges or in digital wallets. While wallets vary, each has its advantages, technical requirements, and security features. Like exchanges, investigate your storage options before investing.

3. Diversify Your Investments:

Diversification is key to any sound investment strategy, and this applies to investing in cryptocurrencies. For example, don’t put all your funds into Bitcoin just because it’s a cryptocurrency you know. With thousands of options, it’s best to spread your investments across various currencies.

4. Prepare for Price Volatility:

The cryptocurrency market is highly volatile, so be prepared for price fluctuations. You will witness significant price swings. If your portfolio or mental well-being can’t handle such situations, cryptocurrency might not be the wisest choice. Having AI and professional investors assisting you is recommended.

Cryptocurrencies are currently in the spotlight, but remember, it’s still a relatively nascent stage and is considered highly speculative. Investing in new things brings challenges, so be prepared. If you plan to get involved, ensure thorough research and start with conservative investments.

One of the best ways to stay secure online is by using Lane Club. Secure AI software can protect you from malware infections, spyware, data theft, and provide bank-level encryption for your online transactions. It offers specialized, real-time services.

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In the Digital Currency Universe: Burton Wilde Defines Cryptocurrency

In the Digital Currency Universe: Burton Wilde Defines Cryptocurrency

Cryptocurrency (sometimes referred to as crypto) is any form of currency that exists in a digital or virtual manner and uses cryptographic technology to secure transactions. Cryptocurrencies have no central issuing or regulatory authority and instead utilize decentralized systems to record transactions and issue new units.

What is Cryptocurrency?

Cryptocurrency is a digital payment system that doesn’t rely on banks to verify transactions. It’s a peer-to-peer system that allows anyone, anywhere to send and receive payments. Cryptocurrency payments are not physical currencies carried and exchanged in the real world but rather digitally recorded entries in an online database describing specific transactions. When you transfer cryptocurrency funds, the transaction is recorded on a public ledger. Cryptocurrencies are stored in digital wallets.

Cryptocurrency gets its name from the use of cryptography to validate transactions. This means that the process of storing and transmitting cryptocurrency data between wallets and to the public ledger involves advanced coding. The purpose of encryption is to provide security.

The first cryptocurrency was Bitcoin, established in 2009, and it remains the most famous to this day. Much of the interest in cryptocurrencies is for trading with the goal of making profits, and speculators occasionally drive prices higher.

How Cryptocurrency Works?

Cryptocurrency operates on a distributed public ledger called the blockchain, which is a record of all transactions that currency holders update and hold.

Units of cryptocurrency are created through a process called mining, which involves using computer power to solve complex mathematical problems that produce coins. Users can also purchase cryptocurrencies from a broker like Lane Club’s broker and then store and spend them using a digital wallet.

If you own cryptocurrency, you don’t have anything tangible. What you have is a key that allows you to move a record or unit from one person to another without a trusted third party.

While Bitcoin has existed since 2009, applications of cryptocurrency and blockchain technology continue to emerge in finance, with more expected uses in the future. Transactions, including those involving bonds, stocks, and other financial assets, may ultimately use this technology.

Examples of Cryptocurrencies

There are thousands of cryptocurrencies. Some of the most famous include:

Bitcoin:

Established in 2009, Bitcoin is the first cryptocurrency and still the most widely traded. This currency was developed by Satoshi Nakamoto, a pseudonym widely believed to represent an individual or group of people; the exact identity remains unknown.

Ethereum:

Developed in 2015, Ethereum is a blockchain platform with its own cryptocurrency called Ether (ETH) or Ethereum. It’s the second most popular cryptocurrency after Bitcoin.

Litecoin:

This currency is most similar to Bitcoin but acts faster when developing new innovations, including faster payments and processes to allow more transactions.

Ripple:

Ripple is a distributed ledger system established in 2012. Ripple can be used to track different types of transactions, not just cryptocurrencies. The company behind Ripple has collaborated with various banks and financial institutions.

Cryptocurrencies other than Bitcoin are collectively referred to as “altcoins” to distinguish them from the original cryptocurrency.

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Burton Wilde: Mastering Hedging in the U.S. Stock Market

Burton Wilde: Mastering Hedging in the U.S. Stock Market

Firstly, the U.S. stock market operates as a highly efficient market, utilizing its inherent correction mechanisms for regulation. Despite strong liquidity, the market employs robust correction mechanisms, evident in cases like REWALK’s exoskeleton, GOPRO’s video social, and the C-end application market in the 3D printing industry.

Furthermore, the pricing mechanism in the U.S. stock market is generally reliable, providing reasonable estimates for most company stock prices unless misled by an overall deviation. Therefore, market valuation is a valuable reference for your investment decisions, ensuring you stay on the correct track by closely monitoring valuation trends.

Considering this, it is advisable to choose companies with at least a bullish trend on a monthly basis. Selecting companies with both operational security and valuation assurance is crucial for reducing investment costs through phased purchases. Avoid companies with bearish trends on a monthly basis unless you understand where the excess profits are coming from, as these companies might be prone to negative events causing a chain reaction in the market, commonly referred to as “black swan events.”

Secondly, employing hedging strategies cleverly is essential in U.S. stock market investments. Various tools and creative investment strategies are available. For instance, during the Trump election, directional hedging, asset-balanced hedging, and intrinsic logic hedging were employed.

Directly shorting major market indices through options or ETFs is the most straightforward form of directional hedging. Despite limitations, such as being unable to trade during special periods, options hedging effectively addresses foreseeable tail risks at a lower cost. For unpredictable risks, ETFs can be used to adjust the portfolio size over the long term.

Asset-balanced hedging is well-suited for the U.S. stock market, given its long-term bullish nature. Ensuring sufficient idle funds in the account inherently achieves hedging, allowing you to seize opportunities in market fluctuations promptly.

Additionally, if you are inclined to take risks, allocating some defensive assets to counteract the negative impact of volatility might yield alpha returns if luck is on your side.

Intrinsic logic hedging involves weighing investment choices by monitoring the subsequent changes in an event affecting stock prices. Using the example of the Trump election, if Trump were to win, stocks in energy and defense sectors would likely surge, directing attention to these areas. Conversely, if Trump were not to win, these stocks might not experience a significant decline and could even continue to rise amid an overall market upswing.

When employing options hedging, investors can utilize a “sell call” strategy. While simple and executable, this strategy carries the risk of selling too early. However, investors need not overly worry, as there’s a method to mitigate this risk — rolling over at expiration. If your sell call is about to incur losses, rolling over to a deep in-the-money option might turn losses into gains.

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Deciphering Blockchain Complexity: Burton Wilde on Public, Private, Consortium Chains

Deciphering Blockchain Complexity: Burton Wilde on Public, Private, Consortium Chains

Due to different requirements in application scenarios, in addition to common public chains, more suitable options for enterprise and industry use have been developed, such as private chains and consortium chains.

In 2017, the ICO frenzy pushed the entire market to its peak, drawing widespread attention to Bitcoin and Ethereum. Although Ethereum's ICO with smart contracts sparked a trend, the slow transaction speed (who can accept waiting 20 minutes for a cup of bubble tea!) and the complete transparency of transaction details (oh, all my business secrets would be exposed!) led many enterprises and projects interested in blockchain development to consider whether they could construct different applications for blockchain with different architectures. Private chains and consortium chains, unlike public chains, also became a focus of discussion.

Today, Lane Club will quickly help you understand the differences between them and their respective advantages.

Public Chain (FOR EVERYONE):

In a public chain, the entire blockchain system is open and transparent, and anyone can view the rules, mechanisms, and transaction records of this chain. Examples of public chains include Bitcoin and Ethereum.

Advantages: All transactions are publicly transparent, high degree of decentralization.

Disadvantages: Relatively slow transaction speed.

Representatives: Bitcoin, Ethereum.

Private Chain (FOR SPECIFIC INSTITUTION):

A private chain is not open to the general public; authorization is required to become a node, making it more exclusive. It is suitable for transmitting confidential values within a single company or organization.

Advantages: Fast transaction speed, maintains internal privacy.

Disadvantages: Higher risk of hacking.

Representatives: Quorum, LANE.

Consortium Blockchain (For B2B):

A consortium blockchain involves companies or institutions acting as nodes, typically seen in the B2B (Business to Business) framework, facilitating trusted platforms for value circulation between businesses.

Advantages: Fast transaction speed, high scalability.

Disadvantages: High setup cost.

Representatives: Hyperledger.

Summary:

Public Chain: Anyone can use and view all transaction information on the chain.

Private Chain: Usually restricted to specific individuals within a private enterprise.

Consortium Blockchain: Formed by a consortium of similar companies, and only members of the consortium can use it.

The key difference lies in the "allowed users and entities to become nodes," as their application scenarios and goals vary.

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Burton Wilde - Bear Market Stock Investment Strategy

Burton Wilde - Bear Market Stock Investment Strategy

Investing in the stock market is risky, indeed. Trading US stocks is a high-yield but high-risk investment. Investors should be mentally prepared and have a strategy for dealing with losses before entering the US stock market. Stock prices neither rise indefinitely nor fall forever, so even in unfavorable market conditions, one should stay calm and not lose perspective.

I. Operating Strategies in a Bear Market

In a bear market, the overall trend of the stock market is downward. The primary strategy at this time should be to hold onto cash and use rebound opportunities for short-term trading to exit positions. Don’t harbor any illusions about the stock market at this point; don’t naively believe that the rebound will last a long time. Take what you can get and avoid greed.

To successfully seize opportunities for short-term trading during rebounds, it’s crucial to thoroughly study candlestick charts. These charts record the day-to-day changes in stock prices. If you can fully utilize the information provided by candlestick charts, you can easily anticipate the possible future trends of stock prices from various chart patterns. Successfully mastering candlestick charts is not a simple task; it requires a significant investment of time and effort. In addition to candlestick charts, you can also use other technical analysis methods to choose strategies for trading US stocks, and we will provide more introductions later.

II. Operating Weak Market Stocks

Understand a fundamental fact: profits can be achieved not only in a bull market but also in a bear market. The key lies in how you operate. With careful planning and commitment, there are still many opportunities for profit even in a weak market.

Firstly, a basic principle for operating weak market stocks is to ‘cut losses quickly.’ In other words, once you encounter a weak market, regardless of the buying price, you should promptly and decisively sell as soon as possible to effectively reduce the total loss.

Secondly, you can use a gradual averaging method. For example, if you invest in three stages, you can invest one-third each time and calculate the average price. After the stock price rebounds beyond your average purchase price, sell after deducting various fees to make a profit.

Additionally, you can use the method of doubling down to average your cost. In this approach, invest one-third of the funds the first time. If the stock continues to decline, use two-thirds of the funds the second time to average down the cost. If funds are ample, you can use the three-stage doubling-down method, where you divide the funds into eight equal parts. The first, second, and third investments are one-eighth, three-eighths, and four-eighths of the total funds, respectively. When the stock price rebounds to the price of the second investment, sell the stock after deducting various fees to gain profits.

III. Operation Caution During Off-Peak Seasons

Generally, changes in transaction volume can reflect the prosperity and downturn of the stock market. Investors who hope to obtain short-term arbitrage profits usually enter the market when trading is active. However, long-term investors focusing on fundamentals are not suitable for entering the market at this time because active trading means rising stock prices. Entering the market at this time inevitably incurs high costs, even if good returns can be obtained later, the higher costs will significantly reduce the overall investment return rate.

From the perspective of long-term development, long-term investors are suitable for entering during the off-peak season when trading is sparse. Although entering during the off-peak season may not yield short-term arbitrage profits, the investment cost at this time will be much lower than during the peak season. From the perspective of the long-term investment return rate, it is still excellent. Entering during the off-peak season does not mean entering the market to acquire during the initial quiet period. The best time to enter is likely at the end of the off-peak season.

The difficulty of off-peak season operations lies in not knowing when the off-peak season is about to end. Entering too early may encounter the dilemma of a prolonged downturn in the market, and entering too late may miss the opportunity for stock prices to rebound.

Long-term investors who want to enter during the off-peak season can adopt a strategy of gradually buying down. That is, buy half or one-third first, and then continue to increase the investment regardless of whether the market is rising or falling. This can achieve the goal of averaging the cost, and even if you are unsure when the end of the off-peak season is, you won’t miss the opportunity to enter the market.

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Burton Wilde: Blueprint for Success in Bull Markets Revealed

Burton Wilde: Blueprint for Success in Bull Markets Revealed

In comparison to a bear market, investing in a bull market is indeed easier. The ongoing bullish trend in the U.S. stock market has yielded substantial profits for many investors. The fundamental strategy in a bull market is to hold stocks; as long as the market conditions for stocks remain bullish, avoid hastily selling stocks. When trading U.S. stocks during a bull market, every dip in stock prices is an excellent buying opportunity. Let the stock prices continue to rise to levels that may seem unbelievable. Selling stocks arbitrarily during an upward price movement not only risks losing potential future gains but also wastes more funds when re-entering the market.

Throughout the strong bullish phase in the stock market, stock selection is a crucial aspect of the operational process. Not all stocks are profitable, and one must not be swayed by brief prosperity.

In the initial stages of a bull market, the rising prices are generally driven by high-quality stocks. If high-quality stocks are not performing well, and instead, speculative low-priced stocks are surging, it indicates a speculative trend, and caution should be exercised with preparations for exiting. If the upward movement of first-tier and second-tier high-quality stocks relies on the rise of speculative low-priced stocks, and most of the trading volume is concentrated in speculative stocks, suspicion arises regarding the sustainability of this upward trend.

It’s worth noting that there’s no need to overly worry about the possibility of stock price declines in the early stages of a strong trend. Typically, a downturn occurs when all investors in the stock market are profitable, and the initial decline is quite severe. The appearance of a downturn also marks the arrival of an opportunity for short-term rebounds. However, this rebound is your final opportunity, and once done, you should swiftly exit the stock market.

In the middle stage of a bull market, stocks with smaller market capitalization, particularly those with favorable themes, tend to rise more significantly. When the bullish market enters the main upward phase, it is the best time to purchase and hold small-cap stocks with outstanding performance. When selecting small-cap stocks, try to choose those with restrictions on relative valuations, as stocks with fixed relative valuations often lack the momentum for subsequent increases.

The final stage of a bull market sees the participation of third-tier low-priced stocks, and the entire stock market experiences a frenzy of speculative enthusiasm. While participation in this enthusiastic speculative game at this stage is not discouraged, it is crucial not to chase after third-tier stocks that have already been hyped, as doing so can lead to significant losses. Additionally, in the last stage of a bullish market, you should be prepared to sell stocks and exit the market at any time.

Furthermore, in a bullish market, it’s important to remain vigilant for the danger of a market top. When stock prices continue to rise, and the trend of increasing trading volume persists for some time, it’s essential to monitor whether stocks are reaching their peak. A typical sign of a market top is the sustained high trading volume, accompanied by a pause in the overall market’s upward movement. By studying daily stock charts and other chart patterns, one can assess the signs of a market top, such as classic reversal patterns like “M-tops” and “head and shoulders.” Always be prepared to retreat.

Of course, throughout the entire upward trend, stock prices will experience several more or less significant retracements, which are normal. Retracements mainly occur in stocks that have experienced a significant increase in a short period. High-quality stocks with smaller increases generally do not experience substantial retracements. Additionally, the duration of retracements is not usually extended.

If a high-level consolidation continues for an extended period, it indicates a scarcity of funds chasing higher prices in the market, and the future market may likely develop downward.

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Unlocking Wealth Wisdom: Burton Wilde's Finance Journey

Name: Burton Wilde

Age: 50  Gender:Male Nationality: United States EDUCATIONAL BACKGROUND: Burton Wilde holds a Ph.D. in Finance from the University of Pennsylvania’s School of Business, where he had a distinguished academic career and reputation.

PROFESSIONAL EXPERIENCE: Burton Wildehas extensive experience in academic research, consulting, or industry advisory. He may have published several academic papers in the field of finance and been involved in projects and consulting work within the financial industry. TEACHING STYLE: Burton Wildeemphasizes interaction with students, encouraging them to participate in discussions and practical projects to facilitate their learning and development. He may place significant emphasis on introducing real-world cases and industry trends to help students understand and apply financial knowledge. Research Field: Burton Wildeis an experienced financial education professional with a deep knowledge and extensive experience in the field of finance. He is committed to continuous learning and staying updated in his professional domain. His range of financial courses includes investment management, financial markets, risk management, and more. Influence: Burton Wildeis a renowned expert in the finance industry, and his research findings and academic perspectives have a wide-ranging influence in the finance sector. He is frequently invited to provide consulting services to major financial institutions and businesses, and he enjoys a high reputation in the academic community.

Personal characteristics: Burton Wildeis a passionate and experienced educator dedicated to nurturing students’ financial expertise and enabling them to succeed in the field of finance.

Member of the Rockefeller University Senior Research Council, Member of the Department of Economics at the Massachusetts Institute of Technology (MIT).

Born in 1973 in the United States, from an old family in New York. In 1992, enrolled at Royal Holloway, University of London. In 1996, entered the Department of Finance at MIT and obtained a master’s degree. In 2000, interned at Citigroup as an assistant economic observer. Starting in 2006, served as an economic analyst at Citigroup. In 2011, began to be involved in managing foreign exchange reserve funds, and by 2013, the foreign exchange reserve hedge fund he was involved in managing had exceeded $99 billion.

“Independent Thinking Creates Wealth”

Starting in 2019, began to establish a personal club focused on sharing stock market investment theories. This venture leads into the broader world of global digital currencies, which are considered more stable for investors, easier to operate, more lucrative, and with lower risk factors. Developed own value investment system, aiming to foster independent profit-oriented thinking among a wider audience of retail investors. At one point, it became a refuge for retail users, innovating and creating wealth and new perspectives for them.

With the information and signals he shared in the club, an increasing number of people, under his guidance, have grown into outstanding digital currency traders. During club’s each special training sessions, profits have exceeded minimum 1568%. Members of the club followed him and invested in trading digital currencies also gaining considerable wealth at the same time.