Articles

Signals and Noise in Investing

Signals and Noise in Investing

Investors come in different styles. Some are highly theoretical, studying business models; others are deeply intuitive, studying products. Jinjian Zhang seems to move between the two, carving out a rare investment style all his own. He brings deep research into society, demographics, and other macro domains, while also maintaining his own methodology for reading people. I'd say he's one of the most memorable investors I've gotten to know in recent years.

绿洲资本·
Jinjian Zhang: A Brief Discussion on Research

Jinjian Zhang: A Brief Discussion on Research

"Research" is a concept most people mention in passing, and the "core" competitive advantage of countless funds. Yet most funds don't have analysts with real research capabilities, and even the standout ones rarely have more than three. On one hand, China's private equity market has grown so fast that systematic research methodologies remain underdeveloped. On the other, asset liquidity used to be weak enough that institutions could make direct judgments — analysts mainly needed to discover assets rather than assess their value.

绿洲资本·