矯枉必正

有人喜大普奔，自然也有人如喪考妣，在兩極化的社會裡很正常。

從經濟上講，一個社會最大的群體是中產階級最理想，從政治上講，溫和的中間派占多數是社會的福祉。君子和而不同，同是為了國家和整體社會的利益出發是民主制度的基石和最理想狀況，但是這和共產主義『各盡所能，各取所需』同樣不切實際。如果單單從烏托邦的意義上講，後者甚至比前者更高尚。

其實世界上非黑即白的情況占少數，更多的情況是很多事情有中間地帶，也就是我們無法絕對確認對錯、好壞，爭議較大。在自媒體和社交媒體出現之前，主流媒體如果仍然有一定道德底線，不去嘩眾取寵煽風點火，這樣其實是為解決社會問題爭取了寬容的空間。

如今的情況呢？自媒體和社交媒體無孔不入，為了吸引眼球或者商業一點叫流量，不斷製造爭議和焦慮，無所不用其極。而更加惡劣的，則是披著『新聞自由』的外衣行挑撥煽動甚或『攬炒』之實。人在做，天在看，不是不報，時候未到。而這個時候，終於到了。

過往積非成是，而今矯枉必正。這個週末，值得浮一大白。

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。