Let's go back to the story of Naver and Kakao.
The reason these companies are called platform companies representing our country is because countless people flock to the spaces created by Naver and Kakao.
People create new cultures in that virtual space, and sometimes even create added value that exceeds expectations.
If you are a seller, you should sell your goods in a place where many people gather to sell more.
For consumers, the more variety of items they want to buy, the wider the range of rational purchasing choices they have.
This supply and demand are balancing within the new platform market, and in response, the proliferation of platforms is growing day by day.
Especially as we enter the IT era, the influence of platforms is increasingly expanding.
We live in a world dominated by platforms, to the point where it's difficult to conduct economic and social activities without going through platforms like Naver, Kakao, Google, and Amazon.

--- Page 32, from 'Platforms that Rule Everyday Life'

Whether you make a profit or a loss, you should think of your initial stock investment experience as a lesson in the basics.
Sometimes you may make a profit, and sometimes you may experience a loss, but you should not be overjoyed or depressed by the results, but rather take them as an experience.
A relaxed attitude and psychological stability are also essential virtues for stock investors.
And as I've emphasized before, it's also important to look at how the world will change and what companies or trends are currently leading the world.
And there is one more important thing.
If you are currently investing in stocks, even if you are only trading one stock, you should not blindly and thoughtlessly follow what others say.
Whether it's a lot or a little, it's right to invest hard-earned money and protect it, and to make decisions based solely on my own judgment.
Can you really trust the information someone gives you? Most stories like, "Invest in this or that stock because it's good," are close to empty.
Especially for professional investors, it is necessary to have a fierce mindset, as if you are practically risking your life when investing.
The family may be in financial difficulty
It's a desperate state of mind.

--- Page 42, from 'The New Normal Era'

The life of a modern person living with financial illiteracy is the worst.
It might be understandable for someone who doesn't know anything about stocks, but there are some stock investors who are financially illiterate.
I am not talking about the impact of interest rates, exchange rates, or sensitive financial policies on the stock market.
Surprisingly, they don't even know how much they have invested in which stocks, and they are indifferent to calculating the returns on the money invested in the fund.
Some of my acquaintances are upset because they put money into a fund, forgot about it, and then liquidated it after suffering a loss of -40%.
Some people, though few, say they don't even know where or how much of their money is, and these cases are examples of poor money management that can be considered financial illiteracy.

--- Page 82, from 'People Living with Financial Illiteracy'

Stock investors have many options.
People broadly divide investments into mid- to long-term and short-term investments.
Especially in the case of short-term investments, you should consider that the money invested during the investment period is not strictly your own money.
If you have made a profit from a short-term investment, it becomes your real money only when you stop investing for a while and cash it out and hold it in your hand.
To make money not only in short-term but also in mid- to long-term investments, I check every time I make a profit, take a break for a while, and then reinvest.
In my case, the overall investment amount has increased, so I manage some of the money for mid- to long-term investments and some for short-term investments.
For accounts that I consider my own money, I invest primarily in absolutely safe stocks. Although the rate of return is slow, I consider this account my own because it shows stable results regardless of market conditions.
As I disclosed my profitable account a few years ago, many of you may know that the account started with 200 million won and grew to over 2 billion won in 3-4 years, and now it is well over 3 billion won.
These accounts prioritize stability, so their yields tend to be lower, but even so, they are nothing compared to the interest rates paid by banks these days.

--- Pages 95-96, from 'How to Invest My Real Money'

"Is Samsung Electronics stock a blue chip?" I have two answers to this question.

'It's a blue chip stock.'
'It's not a blue chip stock.'

If you think about it from a common sense perspective, Samsung Electronics stock is obviously a blue chip stock.
However, if we truly want to call Samsung Electronics stock a blue chip, we should do so after experiencing subjective earnings rather than relying on common sense.
If I bought Samsung Electronics stock at 100,000 won and sold it at 80,000 won at a loss, can I truly say that the stock is a good investment? No matter how good the company's size, performance, or dividends, if I invested in it and suffered losses, it's definitely not a good investment from an investor's perspective.
In reality, stocks that provide profits to investors are considered blue chip stocks.
To be a good stock for investors, it must not incur losses and provide stable profits.
That is the standard of excellence.

--- Pages 107-108, from 'My own definition of blue chip stocks'

In fact, for several years now, funds and investors pursuing traditional value investing have been receiving investment reports that either underperformed the market or fell far short of expectations.
That doesn't mean you should invest in just any stock.
Investing in stocks that are overvalued compared to their corporate value carries risks, so value investing is the practice. However, this means that there are limitations to determining the value of a stock solely based on PER or PBR.
I think it is problematic to use the same valuation method from the 'analog era' in the 'digital era' when evaluating corporate value.
Traditional value investing, which focuses on financial statements, fails to capture the value of intangible assets such as a company's intellectual property rights, brand value, management premium, and future growth potential.
I hope that in the future, ordinary individual investors will be free from the burden of pouring their heart and soul into finding undervalued stocks.
Analyzing a company's fair value and identifying undervalued companies is actually the job of securities analysts.

--- Page 111, from 'Undervalued Blue Chip Stocks'

There are two criteria for the United States to raise interest rates.
One is the inflation rate, and the other is the employment index.
Interest rates are adjusted based on these two factors, and sometimes a friend of mine asks me, "Is it okay to invest in dollars?"
From the American perspective, if you were the President of the United States, I would ask you whether you would prefer the dollar to be expensive or cheap.
From the US perspective, if the dollar is expensive, exports will become difficult, so naturally, the value of the dollar will fall as a policy.
In this way, fluctuations in the dollar price are closely related to all imported and exported goods.
It may seem like it has nothing to do with us, but the global economy is interconnected and dominates every aspect of our lives.
Investing in stocks requires a lot of study, whether you want it or not.
There is absolutely no reason to be complacent or happy about buying a stock that looks good at a pretty good price.
Whether it was luck or skill, if you've made a profit from stock investing, it's natural to want to do better.
So, I look for various news and, as mentioned above, I also look into the US stock market, which I would not normally pay attention to.

--- Page 130, 'The Federal Reserve's Monetary Policy

Time series analysis is closely related to preemptive buying.
Therefore, I would like to clarify in advance that I have borrowed the term time series analysis to easily explain preemptive buying.
In real-world investing, it would be helpful to understand this as the idea of ​​predicting the ripple effects that will unfold over time when an event or situation occurs and purchasing stocks that match that prediction in advance.
The COVID-19 pandemic, which is still plaguing us, can be summarized as follows.
At the beginning of the COVID-19 crisis, in the early stages of the disease outbreak, no one could have predicted that the disease would spread globally.
In the stock market, stocks related to masks, where demand has increased rapidly, showed a brief upward trend.
However, as time passed and the situation deteriorated into a pandemic requiring an international response, stocks related to diagnostic kits for diagnosing COVID-19 showed a significant increase of around 10 times.
If we can predict the impact of such an event in advance, we can reap huge profits.
Of course, there may be limits to an individual's ability or range of predictions to predict the outcome of such events.
Another example is the issue of technological development in the ICT field.
We've been hearing about electric cars for a long time.
However, stock prices of companies such as Samsung SDI and LG Chem have risen significantly as of November 2020, and their stock prices continue to hit all-time highs.

--- Pages 150-151, from 'Using Time Series Analysis'

There are plenty of opportunities to profit from stocks that have surged due to news or issues, even after they have undergone a subsequent correction (decline).
It is about making a profit by buying after a sharp rise and adjustment, taking advantage of information that has already passed.
This is also one of the strategies that people are not familiar with.
Most regular investors believe they are always out of information, but I think that's a stereotype.
Even at this time, many investors are eager to find advanced information that only they know about.
I believe that knowing this information will lead to success in stock investing.
But let's think about it carefully.
There is no reason for me to receive high-level information that no one else knows about, and the likelihood of that happening is low.
A sound and realistic way of thinking is to make a profit by faithfully and appropriately utilizing past and open information.
I'd like you to look back and see if any of the so-called advanced information was ever really helpful.
Most, if not all, of the so-called advanced information would have been false.
If you want to make rational investments, you must not be fooled by false information hidden behind the name of advanced information.
--- Page 157, from 'Don't be afraid of information asymmetry'

The theory that refutes the efficient market hypothesis is the 'delayed reaction effect of information.'
A typical example is the 'delayed reaction of stock prices to earnings announcements.'
The 'delayed reaction effect of stock prices to earnings announcements' refers to 'the phenomenon in which the stock prices of companies that announce earnings higher than market expectations drift upward for a considerable period after the announcement, recording accumulated excess returns.'
Let's say a company records an unexpected earnings surprise.
In this case, according to the efficient market hypothesis, this information should be immediately reflected in prices.
But that's not the case in the real stock market.
On the day that earnings surprise news is announced, we can see many companies whose stock prices continue to rise even after the initial rise.
This also applies to good news announcements.

--- Pages 160-161, from 'Theory of Information Delayed Reaction Effect'

Hanjin Shipping faded into history! While times change and new beneficiaries emerge, like contactless services, some industries, like shipping, struggle to navigate the turbulent times.
Therefore, it is appropriate to invest in stocks by thoroughly examining the trends of the new era through objective information.
However, investors participating in the stock market are slow to accept new things, and even when the index rises, they may suffer large losses.
In behavioral economics, this is called "conservatism bias," meaning that investors are reluctant to change their thoughts and beliefs and do not respond quickly to new trends.
In behavioral economics, stereotypes are a phenomenon in which people distort information by being caught up in the initial idea they had when setting a reference point.
In terms of stocks, the purchase price becomes the reference point.
--- Page 243, from 'The Trap of Blind Faith in Investment Experience'

When the investment amount is small, approaching it with too long-term investment concepts can slow down the growth of your money.
If you are investing with a small amount of money, you should first invest in a direction with a high probability of your money growing quickly.
First, money must be collected.
One of the most common questions I hear from investors is:
I have won awards in real investment competitions more than five times.
People are curious about which stocks I bought and made a profit from.
Whenever I get asked this question, I tell myself that I've rarely bought more than two stocks with a 100 million won investment.
So, it is a strategy to select one or two stocks that seem promising and invest heavily in them to achieve results.
This strategy has clear pros and cons.
The advantage is that you can maximize your profits or benefit from compound interest by not investing in too many stocks.
However, the downside is that it is risky.
Since you only buy one or two stocks, you could easily suffer a huge loss.

--- Page 279, from 'Building Focus on Money'