One Intoxicating Game

I've never heard someone using "intoxicating" to describe a basketball game. But Mike Breen is right, this is one intoxicating basketball game. 

This victory by the Clippers is so intoxicating given the weight of the franchise. The other team of LA had not advanced to conference finals in 50 years, just think about that. 

It's so intoxicating given how they rallied from a 25-point deficit in the opening seconds of the third quarter, how a little known Mann exploded for 39 points, how Reggie Jackson made clutch shots after clutch shots, how Patrick Berverly hit two insanely critical 3s down the stretch, how Playoff P redeemed himself in game 5 and 6, completing a terrific series with near triple-double of 28/9/7.

And this was minus their franchise superstar Kawhi Leonard, who went down in game 4 due to a knee injury. Sure everyone has recency bias. But this is truly one of the most magical games I've watched in my 30-plus years following NBA. IF YOU DON'T LOVE THIS, YOU DON'T LOVE NBA BASKETBALL.

買斯摩爾

做了筆較大的調倉，買入40,000股斯摩爾(6969) @53.15，沽出一些比亞迪(1211)。

之前比亞迪倉位實在太高，趁最近有不錯反彈稍微減輕倉位；斯摩爾星期三應該跌過分了。

紀念袁隆平

一粥一飯當思來處不易；

半絲半縷恆念物力維艱。

24 + 21

Russell Westbrook has won me over. After being unashamed Westbrook basher for so many years over his inefficiency, poor decision-making, being turnover machine, this Washington Wizards iteration of West Beast has won me over. There is now a sense of calmness to his game. Still frantic at times, but mostly under control, more efficient, less gambling on defense, less angry, even endearing sometimes. 21 boards, 24 assists against Pacers today. I mean who does that?

比亞迪檢討

比亞迪(1211)現在的長處和短板都很明顯，簡而言之是4P中前兩P杠杠的，後兩P不如人意不盡人意。

Product很好，DM-i打正旗號要革燃油車的命，Pricing也很吸引，奈何Promotion和Place不給力。已經有很多人指出比亞迪和造車新勢力最大的差距正正在於營銷。現代社會已經不再是酒香不怕巷子深的年代，產品再好再牛逼，如果不能把產品通過有效的營銷手段讓潛在顧客產生購買的慾望，那就等於事半功倍。理工男不是不好，踏踏實實是好事，但也要插上有效營銷的翅膀才能做到事倍功半。比亞迪的營銷手段落後已經不是被投資者詬病一天兩天的了，老王似乎至今對這一短板缺乏足夠的重視。

對我來說，未來三四個月DM-i車型能否放量至關重要，如果領先的技術和優秀的產品不能轉化為銷售成果進而利潤，就要認真審視是不是要繼續持有極高倉位的比亞迪。

具體而言，可看看花旗對二季度的展望：

Catalysts to watch into 2Q: 

Although BYD does not give 2Q earnings guidance, we expect the following catalysts in 2Q: (1) Strong 2Q NEV sales: We expect 2Q21 BEV NEV shipment at 113k units (+106%/194% QoQ/YoY) without chips shortage according to today’s channel check; (2) Order backlog: We estimate, up to 23rd April, BYD DMI PHEV order-backlog surged to 70k units (end-March was 50k). Furthermore, we believe the recently launched Tang DMI PHEV order-backlog has collected 6k units from the past 4 days—We expect BYD’s DMI PHEV products monthly sales to further ramp up to 5k/10k/20k between Apr-Jun; (3) Sales-mix & ROE: The low margin ICE cars 2Q sales to be further reduced to 50-54k units, from 2Q20’s 59k; (4) NEV credit: By assuming BYD average NEV PV generate 2.6 NEV credits with ASP at Rmb3k, this should yield a potential Rmb3.3bn NEV credit income for BYD in 2021.

BBC host CONFRONTED on Anti-CHINA framing

記者之記，實應為『既』，先有既定立場，然後再找證據，都是立場行先，妄言黑白。我國如此，西人『更勝一籌』，此之謂天下烏鴉一般黑。再等而下之，則為『妓』者，埋沒真相，指鹿為馬，出賣良心。報導真善美實為幌子而已，揭露假醜惡更無從說起了。

難能可貴

跌跌撞撞、打打停停疫情下取得的冠軍，感覺最為珍貴，於自己而言很好的句號。

增持少少安踏

呢排經常有組合持有嘅股票向市場抽水，或是配售舊股，或是發新股集資，包括騰訊(0700)、美團(3690)，富途(FUTU)，以及新鮮熱辣嘅安踏(2020)。

丁生套現觀感上相比南非佬賣騰訊或者美團配股集資要差，而且騰訊同美團嘅case市場係有一定預期喺度，尤其係美團，唔少人甚至可能已經係沽咗或者short咗先。因此，安踏短期股價相對騰訊同美團抽水之後嘅表現應該會差一些。

雖然和騰訊一樣都是大股東配售舊股，不同之處南非佬大家都明是被動財務投資者，丁生則是大股東兼管理層。另外，安踏大股東減持對上一次好似是六七年前，因此市場對抽水並沒有預期。

也因為如此，今朝淨係輕輕買咗兩手安踏 @ 132。

增持美團

扯幾句美團(3690)配股感想：

1. 如果和沒多久之前騰訊(0700)大股東減持併在一起看，雖然一是賣舊股，另外一個則是先舊後新新股集資，但兩者金額都不小。從市場反應看，合理推論是港股市底其實不俗。美團最新報293.6，升1.5%，較配售價273.8則升了7%。

2. 有人抱怨美團出爾反爾無口恥，其實簡單，那就不買，甚至已經持有就賣出，最煩買個股票整天嘰嘰歪歪的人。

3. 今日買入6,000股美團 @ 291.4。由於之前減持小米(1810)，美團持倉超過小米，略低於安踏(2020)。

4. 減持小米是不喜歡其蹚電動車這趟渾水。瘦田無人耕，耕開有人爭，其實想投資電動車板塊，除了下注比亞迪(1211)，現在另一個想法是另闢蹊徑，投資於提供不可或缺軟硬件的公司。華為當然投資不了，舜宇(2382)應該是不錯選擇，如果股價回軟。

國家安全

生於憂患，死於安樂。至理名言也。

沒有經歷過『瓜菜代』，甚或聽都沒有聽過，你跟他從國家角度講糧食安全，嗤之以鼻是正常反應。二戰以後70多年大致和平的國際環境，你跟他講山河破碎民族危亡，他覺得很陌生。你告誡他自由民主內裡所包裹可能是糖衣毒藥，他不但不聽反而甘之如飴。

很正常。因為教育這個環節，在大家有意無意地忽視中，被嚴重異化了。因此才會有中學文憑試歷史科『1900-45年間，日本為中國帶來的利多於弊，你是否同意此說？』的奇葩考題。

要亡一個國家和民族，就要亡它的歷史文化、民族意識和愛國精神。英人治港，殖民奴化教育百多年，對中國歷史、文化和傳統習慣性的輕蔑排斥。回歸後教育不但未能改弦更張，反而在港英餘孽洗腦和煽動下導致香港年輕一代對祖國不但沒有歸屬感反而憎恨之，對民族不但沒有感情反而反感之，所謂批判性思考變成了純粹的批判，甚而進一步發展到妄言亂世、光復、革命。

不經大亂，難以大治。天要下雨，娘要嫁人，對於那些一條道非要走到黑的，那就祝他們人生越來越精彩。能夠挽救的，那就儘量挽救，畢竟他們當中的一些人就是我們的下一代。

寫於香港首個國家安全教育日。