$BABA · Value Investing with Sven Carlin, Ph.D. · 2026-11-07
Alibaba 属于说话者高风险、高回报的类别，有趣且值得研究，但他并不持有，不同于通过 Prosus 持有的 Tencent、JD.com 和 Pinduoduo，因为他在特定情境下不喜欢中国公司，并对该组中的部分公司有所保留；尽管营收翻倍，Alibaba 和 Tencent 的股价 14 年间回报为负 11%。
逐段跳播
我们昨天讨论的另一个问题是中国互联网股票。现在差不多 14 年就要过去了。14 年过去，回报却是负的，Tencent 和 Alibaba 的股票为负 11%。这些公司在过去 14 年里收入翻了一番，利润增加，并成为主导者。
但股票却毫无起色。我们六个月前讨论过这个。从情境角度看，我不喜欢“中国公司”。我通过 Prosus 持有 Tencent 的“Kwab”、JD.com 和 Binduduo，但不持有 Alibaba。
因此，从士气角度看，这很有趣。那里有很多东西值得研究。我把它从这里移到了这里。为什么风险更高？因为在“俱乐部”里有我不喜欢的东西，例如一些公司，但没错，它们承诺更高的回报。
Another issue we discussed yesterday was Chinese internet stocks. Now almost 14 years will have passed. 14 years and the return is negative, minus 11% for Tencent and Alibaba shares.
These companies have doubled their revenues over the past 14 years, increased their profits, and become dominant. But the stocks didn't go anywhere. We discussed this six months ago.
I don't like "Chinese companies" from a situational perspective. I own Tencent's "Kwab" , via Prosus, JD.com, and Binduduo, not Alibaba. Therefore, it is interesting from a morale perspective.
There's a lot to research there. I moved it from here to here. Why higher risks? Because in "the club" there is something I don't like, for example, some companies, but yes, they promise higher returns.
这个频道对 $BABA 的历次判断
Value Investing with Sven Carlin, Ph.D. 在这只股票上共 5 条判断，这里只列相邻的几条。