Excellent investors are masters of reading the company's financial reports, such as Warren Buffett, the stock god, who has the habit of reading financial reports every day.

Among investors, those who overly believe in their ability to control the stock market, especially the ability to control a single stock, are often fat sheep in the eyes of market makers.

Learning to read the company's financial reports and honestly pursue long-term and stable compound growth is a smart and stable investment choice.

Warren Buffett is like this, according to the company's market prospects, only make long-term investments, not short-term speculation.

Roy can also read financial reports and attach great importance to the company's financial reports, which is a fundamental quality of a leader.

In fact, it is not difficult to read the company's financial report, as long as you have basic business knowledge, a certain amount of logical thinking, and a little patience, you can gain a lot of interesting information from it.

After the meeting, Roy and Tim returned to the office area, where he sat in an empty spot and took out a copy of the financial report he had just put together and studied it.

In terms of financial reports, it is important to look at the growth of profits for companies with relatively stable development, and for fast-growing companies, it is more important to increase their own turnover without losing money. Because the latter type of company only needs to reduce the cost a little bit, the increase in profits is very obvious, and it is easy to cheat. Internet companies all fall into the latter category.

Some of the financial systems in China and the United States are similar, but the corporate laws of the two countries are different. In contrast, it is easier to find out about the financial reports of American companies, while the problems in the financial reports of Chinese companies may not be obvious, but once they are discovered, they will definitely be a big problem.

In the United States, the cost of financial report fraud is very high, not only to face judicial penalties, but also the stock price may also fall to zero, the United States has no such thing as a fall limit.

If a U.S.-listed company makes false accounts, shareholders will ask the company to explain clearly, give details of the transaction, and even the Securities and Exchange Commission will intervene in the investigation. Of course, before the results of the investigation came out, its stock must have plummeted, and it is not surprising that it fell by more than two-thirds in a day.

In China, this is the case, and shareholders generally do not have access to evidence, despite the company's financial problems.

Therefore, when Buffett makes investment choices, he pays special attention to the company's cash flow, because it is not difficult to fake turnover and profits.

Cash flow is usually divided into two types, cash flow from operating activities and cash flow from operating properties. For example, the later excellent IT companies Microsoft, Apple, and Google, which not only have strong cash flow, but also almost all come from business activities, which shows that they make money from their own products and services, and these are all good companies.

In the future, old companies like IBM will sometimes have a very high proportion of cash flow from non-operating activities, including the money earned from patent lawsuits, the investment income of employees' pensions, and the income from the sale of assets. This shows that it is not as competitive as it used to be.

For example, in China, many non-real estate companies have their cash flow from real estate or national research funding. Such a company has problems in the long run.

The above rough introduction, in other words, means that the financial reports released by listed companies can not only help investors judge risks and measure returns, but also may detect whether the financial reports are fraudulent.

If you can confirm with 90% certainty that a certain company is problematic, then there are many ways to play in the financial market.

……

After a hard day's work, Roy has generally straightened out the workflow of the S1 group, and the layout of the first step has come to an end.

He stretched and shouted, "Debra, go to dinner." Then go straight back to Silicon Valley. ”

Debra wiped the corners of her mouth and smiled embarrassedly: "Roy, I'm sorry, I was very hungry just now, so I ordered a pizza, and now I'm full." ”

"Didn't I tell you in advance that we would have dinner in the evening?"

"I'm sorry, I'm sorry. Debra stood up and lowered her head, her eyes clear and sincere, which made people unbearable to criticize.

"Forget it. Really. Roy was depressed and had a rumbling stomach, but he lost his appetite.

"Thank you, I won't do it again next time. Why don't you order you a pizza too? That one was really delicious, delicious, crispy......

"-Can you shut up?" Roy glared at the other party, if it weren't for her sincere blue eyes, Roy suspected that Debra was deliberately teasing herself. I'm really going to be.

……

————

Back in Silicon Valley, Roy asks about Jamie's situation, "Is she still actively engaged in what Daddy will do every day?"

Roy didn't like it, he had been back for so many days, and he didn't take the initiative to say hello. In vain, I spent tens of thousands of dollars for her to further her education and raised a white-eyed wolf. Hum. I really thought that with a little cleverness, I could change the world.

The feeling of being out of control is uncertainty, and uncertainty can make people anxious, make people suffer from gains and losses, and Roy looks at Jamie with this kind of trouble.

Roy has a narrow circle of friends, and he doesn't want to spend his energy on identifying good friends, so he cherishes the good friends he used to live with. Now facing Jamie solo, he has two options. First, the Tao is not the same, and the friendship is no longer maintained. Second, support her silently, let her play freely, and leave a corner for her in her heart.

However, Roy didn't like either of the above options. At this moment, he intends to be willful once and choose the third one.

"Hmm. Debra nodded, "Can I help you find out?"

"No, your intelligence, to be honest, is not suitable for being a spy. Hey, just play your silly white sweet. ”

Roy called Donna directly to find out what was going on. Donna was one of the earliest members of Jamie's organization.

As Roy expected, without praising the other party, Donna directly betrayed Jamie's camp and threw herself into the arms of material.

After figuring out the situation of the Daddy Solidarity Club and confirming that Jamie and their group had an event at night, Roy had an idea and directly set a brilliant plan - tonight, to unveil Jamie's hypocrisy in public.

……

As night fell, the moon and stars were scarce, and the Daddy Solidarity Club slowly gathered in a small square next to the park.

Nearly 100 people attended the meeting, holding slogans and calling on people to pay attention to the hardships and hard work of men's lives.

The real exaggeration is not the crowd, but also the media reporters from all walks of life, large and small, who line up around the area with guns and guns, and some reporters simply go deep into the crowd and interview all kinds of supporters.

The crowd of onlookers around the square was also quite impressive, and it was obvious that this novel topic attracted a lot of melon-eating people.

In particular, a group of big men who dragged their families with their families in the Bao Dad Solidarity Association were led by a delicate-looking and small woman. The gimmick of this woman leading male fathers and calling for attention to male pressure directly detonated the public's imagination.

When the rally was in full swing, Roy, dressed in a strange costume, arrived.