저자: 박세익 · 한국인
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영상은 체슬리 운용 성과(최근 12개월 월평균 약 1억 148만원 수익 주장)와 투자 철학(대형 코스피 종목, 손실 시 보유)을 소개. 4월 실적 시즌 전 반도체 강세 지속 가능성을 언급하나 과열 우려 제기. 중동 전쟁 관련 원유·비료주(CF Industries) 기사 소개 후 전쟁 장기화 베팅에 신중론. 체슬리 사칭 투자리딩 방 주의 공지로 마무리.
다듬은 글
hello. Let's become investment masters by reading the newspaper every day with Park Jong-mo, just like Wallen Buffett . We will now begin the program for today, Thursday, March 19. It is already Thursday. Wow, time really flies. Well, yesterday... ah, I realized I went on for way too long yesterday .
1 hour 23 minutes. Actually, yesterday's newspaper article was a very important one regarding semiconductors . I spent over 50 minutes reading newspaper articles yesterday, so the content ended up being a bit long, yes. Let's communicate with Worm quickly today, and today is really yes. I will submit it a little early .
ruler. hmm. I think the reason Warm's Shinbak brings a good night's sleep is thanks to Jeonmu's voice. When I asked Jeonmu to compare his voice to a classical instrument, he replied, "Park Se-ik's voice features a coexistence of calm, logical maturity and a trustworthy resonance. If I were to compare it to a classical instrument, it is a sound that combines the deep resonance of a cello with the clarity of a clarinet ." The cello-like element is a heavy, low tone that soothes the fear of the market.
The clarinet-like element is a smooth texture that explains complex economic indicators . Such a voice can be considered the greatest asset, especially for a financial expert for whom trust is everything . Hey, did you say that's how they explained it at Jaeminai? Uh, I'm really grateful to Jaeminai.
A while ago, I uh, copied an article, but um, because of another important article, uh , I deleted it again. One of the articles is uh, these days Chatfitinai AI is a bit good at flattery. yes. So, you know how they say that the number of people interacting with AI has increased a lot these days . yes.
Even if you keep asking questions, ugh, it's a hassle. There is nothing like that, and when I ask a question, they just answer enthusiastically, saying, "Oh, that is a good question," and even go so far as to ask, "Are you curious about this too?" and ask me more questions. If you say, "Oh, tell me that too," I will say, " Yes, I will explain the [what is it] part," and go through it all.
Then, would you like me to organize it like this and give it to you again? So, because of this, I'm basically stuck with AI all day long. But anyway, I feel good. Uh, I also used to have the 93.1 Classical Channel on all the time, switching back and forth to listen to a lot of classical music. As I listened to it more and more, I realized that things like piano sonatas and various violin concertos are really good.
Then, it is also really nice to appreciate the sound of each individual instrument like this. Ah, cello. hmm. Oh, speaking of the cello, that teacher Jeong Gyeong-ah... uh, among the siblings, there was another one who played the cello, right? Is that all? Right? Anyway, thank you. A heavy, low ground that soothes the fear of the market.
And the clarinet has a smooth texture that assembles and explains complex economic indicators. yes. I will continue to strive to be able to provide explanations with this kind of feeling. We're already approaching 6,000. He said that he felt reassured having cash on hand when the market went down. Well, then again, today it started with a significant drop, but hey, the market is strong.
Right? It keeps coming up little by little . Actually, we have already achieved the goal conversion type in that lab operation . If you look at it, we achieved it at the end of February, but it dropped sharply again in early March. As soon as we got back in, we managed to convert all the goals and do everything within less than a week, but just as we finished that, it dropped again like this morning.
Actually, yesterday, while having a simple standing meeting with our managers, we were discussing how to handle the work that came in until yesterday. But the market will be fluctuating. We were planning to take advantage of the correction, and since it dropped sharply again this morning to start, well, anyway, I think we are really lucky.
Our customers who are with us are also very happy, so these days, anyway, the return on investment needs to be the best . I don't have anything else . I feel good only when the client's investment return is good. No matter how good everything else is, if the client's return is bad, I feel like a sinner inside, and yes, I get quite stressed .
The point is that the market is supporting various aspects of the operating rate of return, right? Oh, luck plays a part too. It's 70% luck and 30% skill, but it seems like luck really does play a big role . Some days I feel like I understand, and other days I don't. Since it has been a year, the biggest change is that the sensitivity to the controversy over volatility has changed.
It seems you have now realized the most important part. Yesterday was a long time, but it was very informative. Oh, thank you. Let's look at the newspapers starting from last summer. I am a middle-aged woman born in 1971 who was a subscriber, applied for an internship this March, and is currently studying hard.
I have been investing in stocks for over 10 years, but I have only been studying for a year. I closed my account that was in the red, recovered it this year, and made a profit. Thank you. He did. yes. Congratulations on making a profit. I am happy to be together on the internet. I am rooting for your continued progress .
yes . Our Seoul Department Head left another comment . I live near a hot spring. Uh, I'm a hot spring exercise enthusiast working hard in the evening . I wasn't sure because it sounded like you were speaking the Busan dialect, but it's nice to meet you since you're from Busan. He did. Ah, uh, I'm trying quite hard to use Seoul Village, but it doesn't seem to be getting fixed.
Right? You notice it right away. I always listen at 1x speed, but when I listened at 1.5x speed for the first time, it didn't sound like the full text and felt awkward, so I just went back to listening at 1x speed. He did. After my work got blocked, I felt at ease, so I was just happy without any worries even while traveling abroad .
I also treated my friends to something when we met, and I felt great. As the saying goes, generosity comes from abundance; even if it’s not quite a full saddle, I feel very happy to have gained the capacity to look around my surroundings. yes. With the money earned from stocks, you do this to those around you.
hmm. As you spend more time, you'll find that at some point, spending money on others feels much better than spending it on yourself. Oh, I also live in Haeundae, Busan, where the Suyeongcheon Hot Springs are said to be. Ah, it is said that there are many mullet living in that hot spring now. It is fantastic when the cherry blossoms bloom.
Oh, really? Hey, does n't that all mean our country has become a developed nation? Since my house is in Woncheon-dong, my father and I often went up Geumjeongsan Mountain, where Geumjeongsan Fortress is located. When we were up there, my father would show me the entire city of Busan spread out before him, and if you look over there...
Even back then, due to the smog, this smog—not clouds—was spread all over downtown Busan . I remember you saying that when I see that, we are living in such bad air. It wasn't just the air, right? Back then, since the Busan area had a lot of industries like shoes, textiles, and clothing, a huge amount of industrial wastewater was dumped, and all of that went to places like hot springs, right?
Over there, in the Ulsan region, well, the Taehwa River... you know, the Taehwa River used to be like that in the past. You'll eat it all up, right? Is that all ? Fish cannot survive in schools in the Nakdong River, so every now and then when you look, you see schools of fish dying and coming up. You are 1.5 times smart.
Regular speed has its advantages, as it is prescribed as a special rider for sleep disorders, requiring you to listen at least twice by default. yes. If you listen at normal speed, it's immediately yes. You can get a good night's sleep . A hawk's eye for the market. How did Chesley's team know that semiconductors would drive the market one more time?
Yes, the semiconductor weighting has been a bit high recently. I think Chesley and I get along really well. It is truly fun and enjoyable to listen to the macro market analysis in the morning brief, learn about the stock market and portfolios through the Inter program, acquire managers' skills, and even learn about newspapers and character through Omaesinbak.
My hobby is Chasley. He did. yes . Our department head, and me too, under him. The whole day is filled with Chasley. You understood . yes . Every time I see comments like this, I think, "Oh, you're working even harder." That hobby, the hobby called Chesley, does live out the body, mind, and soul, yes.
Oh, but the body shouldn't gain weight. Right? Yes, yes. I will make sure this becomes a hobby that nourishes the heart forever— yes, a hobby that makes you plump and chubby . I realized how great a 15% return is by looking at the fairly satisfactory average rate of return of pension savings accounts.
I was surprised by the figure of 2%, which is 7.2% . If you apply the concept of compound interest, an annual average of 15% is tremendous. Thank you again today for being amazing . I think the dollar, not gold or coins, is the true safe asset . And you did. Since the response to the comments last time was so positive, I am posting this chat to share our investment strategy with you .
My investment strategy is to invest only in large KOSPI companies. If the price drops, I hold onto the investment, and if I feel it isn't working out, I sell without hesitation once the price returns to roughly the commission fee. So, there is no loss in stocks. After hearing my mother tell me to put any profits into a separate account, I have been depositing any profits from selling into a different account ever since.
I am a grandmother nearing 70 who chatted a few days ago. yes. My mother is now three years old, and she is still in very good health. So, if you are in your late 60s approaching 70, you are not a grandmother. Right? yes. Oh, Ms. Jeon Hyeong-mi, I am also a 7th grade grandmother. I should try doing that.
You did, and oh, I didn't know. Judging by the atmosphere of that comment and the handwriting, I thought you were in your 40s. Yes, yes. Here in Chamilton, seeing you older sisters and brothers writing comments like this, there is really a lot to learn, isn't there? hmm. That is correct. I would like to learn from how you maintained your consistency all the way through 7th grade.
It's really cool. Our younger siblings are also posting many messages of support like this . My parents are also in 7th grade. You are studying the stock market way too hard these days. So, our KakaoTalk and phone calls have also increased. It seems like my mother is better at it than my father . I also feel that I should always be someone who learns and learns .
It is important. Right? So many of these younger siblings learn from just this one comment. She is a cool older sister. Oh, you're a cool older sister. I also want to learn well and follow along. yes. A worm I definitely listen to, even though it's a day late. Ah, since it was three hours ago, you must have heard it today.
I am always incredibly amazed by the depth of the Chasley family . It feels like a gathering of ghosts, so we end up doing it together . Thank you so much. yes. The elders of old used to say that many people should look after one person, as it is difficult for one person to look after many. Oh dear, you worry so much, so please just accept it as your fate, Jeonmun.
Is n't this also a sign of fate? My father-in-law visited his parents' graves with my mother-in-law, wife, and daughter . I couldn't finish the morning brief because I had to leave early in the morning . I mowed the grass while getting wet from the spring rain, and put the pretty artificial flowers that Ttara bought into a vase.
The drive back after finishing the weeding was very refreshing. I cannot express in words how grateful I am to my father-in-law and mother-in-law for tending to the Sado Tomb with such care . The two deceased and elders like myself shared a deep affection for the Apostle. It was to the point where I wondered if there could really be such a close relationship between in-laws .
All that remains for the two of you is your hearts. Ah, our CEO shared a heartwarming story about visiting his parents' graves again after a long time . I am a graduate of Oncheon Elementary School, born in 1970. Oh, really? Then we're classmates, so yes. He is a classmate from elementary school. Right?
hmm. I was in Class 10 of 1st grade, Class 6 of 2nd grade, Class 10 of 3rd grade, Class 1 of 4th grade, Class 11 of 5th grade, and now I've forgotten all of 6th grade. Teacher Shin Young-ju in 4th grade. And uh, now I ca n't remember any of the teachers' names either, except for the 4th grade teacher .
yes. As we have been together for over 5 years since the Upper Class 12 days, our profits are gradually increasing . I was able to endure the difficult market in 2022, and since then, I have been continuing to make good profits. I previously mentioned the moving average monthly returns for 12, 24, 36, and 48 months, respectively .
Today, we finally recorded a monthly average of 101,480,000 won over the past 12 months . Monthly average. Then you earned 1 billion won in the past year . Right? Wow, that's amazing. After believing in the 10,000-hour rule and steadfastly working together every day for six years, the day has finally come when I hit a monthly average of 100 million won.
The professionals and Chasley are my friends. Wow, our Compound Interest Wizard, you are truly amazing. Right? That's a huge deal, you're amazing. Wow, and congratulations. He did. This is the entrance to Beomsa. And my wife attended Woncheon. Although we graduated from different schools, my wife attended with you, who is three years older than me .
I see you are a senior from Naeseong Middle School. Yesterday, I was about to talk about Naeseong Middle School, but as you mentioned, I graduated from Naeseong Middle School and Bunil High School. Since you mentioned last time that you have also been withdrawing 100,000 won annually from your retirement pension account starting at age 55, yes, I think you are the right senior rather than me .
As someone without semiconductors, I am significantly underperforming compared to the market this week, but I feel good. Because if the market thrives, I will have an opportunity too . I am looking forward to it. I am waiting for my turn . yes. Minjeong, you are an expert, aren't you? I am a 75-year-old housewife.
I want to join too. yes. 75 years old. Uh, I always think this role model is important . Well, I also have physical role models like Choi Soo-jong or Tom Cruise. When I look at Choi Soo-jong or Tom Cruise, are n't they amazing? Right? You said that Choi Soo-jong is one year older than President Lee Jae-myung.
yes. So, as for role models, for our older brothers and sisters in their 70s, yes, Mrs. Pelosi from back then. Mrs. Pelosi was probably born in her 40s, right ? Oh, let me look for Mrs. Pelosil for a moment. Anyway, my mother was similar to my mother. Mrs. Pelosi. yes. You are just like my father . He was born in 1940.
Born in 1940. Right ? yes. How energetically did Mrs. Pelosi do that, too ? There have been various articles recently regarding 85-year-old former U.S. House Speaker Nancy Pelosi, but if we look at Mrs. Pelosi or just President Trump, is he a deity born around 1946? yes. You were born in 1946, right?
yes. So, if you look at President Trump, even at the age of 80, he is incredibly active and in good health. Right? He set a role model in his own way, and now... um. Uh, wait a minute. We should n't be talking about President Trump; we have Professor Kim Young-seok . Right? yes. Now, thinking of Professor Kim Young-seok as my role model, I wonder, "Ah, why do we need to be healthy like that?" You need to be healthy to work.
yes. So, um, I do n't have any desire to retire early or anything like that. Right? Looking at Professor Kim Young-soo, I think, " Ah, how beautiful is the sight of him working like that, sharing words of wisdom with so many people?" Right ? The fact that our True Milton members share their GM messages with each other through comments like this, and go beyond that to choose a role model and work hard at something while dreaming— isn't that very very fact happiness?
I am going on a business trip from Pohang to Yeouido tomorrow for training . Oh, really? It has been a few months since I last visited Yeouido and left my belongings there, and I feel good and the atmosphere feels fresh. Regarding the electronics sector, which was filled with nothing but pessimistic outlooks just a year ago, all analysts are now pouring out only positive news.
With this sudden surge in volatility, I have many thoughts, wondering if the waiting companies that were just observing might end up fanning the flames. Stocks are really difficult. Uh, you are transferring my husband's account, but it looks like we need to pay the remaining balance for the land we contracted for around the end of April .
Most of the cash has been transferred, so we need to sell stocks to raise the funds . You usually view stocks favorably until April, and then, uh, you said they would fall afterward. Since the war is not over yet and there is volatility, I would like to hear your expert opinion on whether I should ask them to sell little by little whenever the price rises, or if I should sell all at once when I think the stock price in Seoul is at its highest.
In this case, as you listen to the comment question right now, many of you are probably thinking, "Oh, I'm in a similar situation." Those of you who have expenses coming up in June or October are likely wondering how I will respond to that comment. You need money for the first time in April, but it is currently March 19th.
yes . Then, I think there are many things you will need to visit within this month . Even though I think the market will rise to form a double top again ahead of Samsung Electronics and SK Hynix's earnings announcements this April, with stocks, you have to find the money when you need it. Finding it at that moment only to find out it was the peak is a bit of a gamble, so I would absolutely never tell you to invest money you need in three months .
I have to use it in three months . hmm. If you have to use it in three months, ah, I don't want to do it. But if you need to withdraw the money in a month, uh, yes. Within this month, or by early April at the latest. Yes. I think it would be best to cancel the funds. And because we are making a lot of profit right now .
Right? Now, I have a question . You mentioned that when stocks are in a low-valuation state, like during the Gae-eom residence incident, they rebound from a sharp decline caused by external events; however, in a situation like this where prices have risen significantly and the undervaluation has been resolved in terms of PBR, they tend to rise while experiencing W-shaped volatility even if they plummet due to a war event like this .
I was thinking while drinking coffee when I suddenly thought of COVID. At that time, the Nasdaq had already risen significantly in 2019 solely due to interest rate effects, without any EPS growth, so its valuation was somewhat high. However, after the COVID event in 2020, it plummeted and then recovered in a V-shape.
In what ways is this case different? Did the Year and the Treasury Department create a massive disparity in liquidity? Oh, that's another good question. Now, how much did the Nasdaq drop back then? How much has the SMP 500 dropped? Yes, there was a massive plunge as it dropped from 3,300 to 2,200. It dropped by 35% .
Uh, the SP amount went up by 28.8% in 2019, you know. Although EPS growth was only 1%, the index saw a liquidity rally in 2019 due to three interest rate cuts . yes. If it had gone up steadily and then dropped about 10% from there—or maybe 5% like recently—a V-shaped rebound wouldn't have been possible.
yes. But the SMP dropped by as much as 35% to 500. The Nasdaq dropped significantly at that time, by about 44% or 48%. yes. 45% is almost half gone. So the value has dropped. And as you mentioned at the end, the annual and redistribution departments checked liquidity rates and printed money indiscriminately, raising the small price.
Okay, then, that's it for now . Now, let's read the newspaper article . Okay, here is the first article. Uh, it's listed as a standalone item . The government and the oil refining industry are pushing for the import of Russian raw materials as a measure to secure a new source of supply, given that the last oil tanker to depart just before the blockade of the Horomo Strait is set to arrive next week.
Executives from oil refineries such as SK Energy, GS Caltex, S-Oil, HD, and Hyundai Oilbank held consecutive meetings with the Ministry of Trade, Industry and Energy starting on the 13th to discuss plans to import Russian crude oil . This follows the U.S. government's temporary lifting of sanctions on Russian crude oil purchases to curb the rising price of meat caused by the war .
Uh, the fact that the government and oil refineries have played the Russian crude oil card means that the supply situation is that serious, and there are analyses suggesting that refineries would have to cut export volumes by nearly 80% to meet domestic demand. If this happens, it will be inevitable for rectifiers to declare that they cannot engage in joint ventures with overseas business partners.
Along with this, the government also decided to import an additional 18 million tons of crude oil from the United Arab Emirates . Kang Hoon-si, Chief of Staff of the Blue House, stated today that the United Arab Emirates has pledged to supply crude oil to Korea as its last line of defense amidst the global crude oil supply emergency .
This article is also an exclusive. It is said that AMD's Lisa Su discussed everything with Lee Jae-yong regarding the Korean automotive industry; let's take a look. Lisa Su is the CEO of AMD. This is the answer Lisa Su gave to the question of what was discussed when she met with Samsung Electronics Chairman Lee Jae-yong at Seungjiwon in Hannam-dong, Seoul on the 18th.
So you answered "Everything." Now, Susio stated that he met with a reporter from this publication at his accommodation, the Forces Hotel in Seomunan-ro, Seoul, on this day and discussed everything regarding future business, ranging from HBM technology and supply scale to the foundry, AI, and infrastructure construction .
Oh , I see you are kindly signing autographs for citizens you met at a hotel in Seoul again . It appears that they have expressed their determination to comprehensively strengthen their cooperation framework to seize the initiative in the competition for next-generation AI semiconductors, building upon the 20-year alliance between Samsung Electronics and AMD .
Sushio said that meeting this person was very productive. Chairman Lee Jae-yong called him a good friend and also expressed satisfaction. Regarding the dinner with Lee Hae-jang at Seungjaewon, he said it was an excellent meeting and a very good evening, adding that Samsung is the perfect partner for AMD .
They added that they also discussed how to further solidify their partnership in the semiconductor market as well as the cutting-edge AI market . Regarding the AI bubble theory, Uh Susio flatly stated that AI is still in its very early stages. This can be interpreted as implying that it is not even the stage to discuss the AI bubble .
AMD has selected Samsung Electronics as the preferred supplier for the HBM4 to be installed in its next-generation AI accelerators. We also promised cooperation with Samsung Foundry. yes . Even when it failed to pass Nvidia's call test in 2024 and 2025, the former was still supplying HBM to AMD . So, AMD and Samsung were maintaining a very close relationship, but since AMD's revenue is less than tenth of Nvidia's, no matter how well Samsung works with AMD, it is meaningless unless they can break through Nvidia.
yes. It was like this. When I saw the signing scene, Lisa Su was at the F1 Grand Prix or something, and a reporter was interviewing her. The reporter asked, " Can you speak English?" and she readily replied, "Yes, I can." Then the reporter asked who she was, and she said, "Ah, I am Lisa Su, the CEO of AMD." That is the interview scene.
hmm. In contrast to that, in our country, citizens recognize CEO Lisa Su and ask, "Oh, please sign this." So, you probably felt really good like this. It states that, in principle, the Convergence and Composite Trade Act prohibits division into KOSDAQ 1 and 2. Uh, the photo is a summary of the transaction system.
President Lee Jae-myung is listening to the remarks of the attendees at the meeting on capital market stability and normalization held at the Blue House yesterday. From the left, there is Heo Min, a research team member at Kiwoom Securities, followed by comedian Jang Dong-min. And this is the President Yeon Hyeon-ju Lifestyle Research Institute Grand Conference.
Now, in principle, the duplicate listing of a parent company and a subsidiary is prohibited. The KOSDAQ market is operated by dividing it into Part 1, consisting of blue-chip innovative companies, and Part 2, consisting of scale-up companies. So, at the Blue House, Joo Jae-han held a meeting with Jung Seong-hwa regarding capital market stability, and the Chairman of the Financial Services Commission reported this as 200 million won .
They said they would create a market structure where innovative companies can grow . If the shareholders of the parent company view the duplicate listing negatively, it cannot be pursued. It is permitted only in truly exceptional cases after comprehensively weighing factors such as general shareholder consent and the necessity of domestic listing, but the parent company's board of directors is subject to a duty of loyalty to shareholders .
It has been decided to reorganize the KOSDAQ market in the first half of next year by dividing it into the first and second divisions to enable mutual transfer. Uh, we plan to announce the list of listed companies with low PBRs at the conference . President Lee stated that the reality in which a significant portion of national assets is concentrated in real estate is causing various side effects, such as increased operating costs, rising corporate production costs, and declining industrial competitiveness, and said that it is now time to drastically change the structure so that capital can flow more productively.
It was said that by establishing market transparency and fairness, the Korea Discount can certainly be transformed into a Korea Premium . Oh, the KOSPI index surged by as much as 5% yesterday. Now, the Financial Services Commission has officially announced a structural reform plan to separate the KOSDAQ market.
The plan envisions removing failing companies from the market through delisting and strategic M&A, and dividing the remaining companies according to their growth stages to boost the overall competitiveness of the market. Reform plans for the foreign exchange market and foreign investor system were also announced to achieve another policy goal: inclusion in the MSCI Developed Markets Index.
Now, the KOSDAQ market was launched as Korea's NASDAQ modeled for technology and growth companies, but it has been criticized for causing confusion for both investors and companies within the market due to the diverse growth stages and earnings scales of the firms . In response, the Financial Services Commission announced measures to establish a three-tiered structure consisting of KONEX, the second tier of KOSDAQ, and the first tier of KOSDAQ to build a short-term growth ladder .
The plan is to form a group consisting of 110 to 170 high-quality innovative companies among the current KOSDAQ firms, and to align them so that they can receive a valuation premium commensurate with their standing . Support policies following the restructuring have also been announced, with plans to expand the KONEX funds established by Korea Growth Financial Investment Management and financial companies from the current 100 million won to over 200 million won and to ease listing costs .
It is said that, in response to the cold weather for listing on the KONEX market, the requirement to maintain the holding ratio for small-cap stocks will be gradually raised from 5% to 15%, and tax support for KONEX investments will also be reviewed. The special technology listing system for the KOSDAQ market will also be expanded.
The exchange plans to review the expansion of the customized special technology listing system, which is currently limited to the bio, AI, space, and energy sectors, to include advanced robotics, K-content, and cybersecurity. The US NASDAQ market was presented as the target for this KOSDAQ market reorganization.
Unlike the KOSDAQ market, which has effectively been relegated to the second league of the securities market, the NASDAQ market is successfully operating separately from the New York Securities Exchange, divided into three tiers such as Global Select and Global Capital . An official from the Financial Services Commission stated that they plan to expand the investment base by developing an index centered on top representative companies within the premium segment of the KOSDAQ and introducing linked ETFs, adding that the goal is to enable KOSDAQ market stars to receive sufficient investment without having to move to the securities market.
What is the low-quality through M&M&? It also opened the door to growth through M&A for Seo Tae-chul. The typo here is strange. Now, the door has been opened for the emergence of listed companies through M&A. According to the amendment to the Capital Markets Act that the Financial Services Commission is pushing to implement by this coming September, the management of a listed company must disclose any written restrictions that detail the purpose of the acquisition, the price, and the basis for the calculation.
Furthermore, regarding directors, they must review restrictions from the perspective of all shareholders, not just the controlling shareholder, and disclose their position. They explained that the intent is for the board of directors, representing the controlling shareholder, to make judgments and disclose in accordance with the duty of fidelity to shareholders, rather than habitually opposing serious M&A restrictions .
We are also strengthening the operation of the delisting system reform measures announced last month to expedite the removal of failing companies. The plan is to establish an intensive management team within the exchange for a period of intensive delisting management until June of next year, thereby increasing the number of companies subject to delisting this year from 50 to within 150.
President Lee also emphasized the importance of streamlining the trading system to allow many people to freely participate in the market, stating that one would not want to visit a store if they could not tell whether the goods were rotten or of good quality. Now, on this day, the President pointed out the structure of stock transaction settlement dates and requested institutional improvements.
Currently, when domestic stock investors sell stocks, it takes 200 million won for the actual settlement to take place. It is the PS2. Currently, even when purchasing stocks, margin trading is established where a deposit is paid first, and the balance is paid within the trading day to receive the stocks .
There is talk that since President Lee sold his stocks today, what money will be given? It is said that they requested that this be made one of the agendas for coordination and reviewed. In response, the exchange also announced that it would shorten the settlement period from two trading days to one day.
Even if I struggle with loans, I won't give money to Dujong-gu . Warning about backward consumption. Now, we always need to check for changes in our consumption patterns and things like that . The Engel coefficient, which had been forgotten since Korea entered the ranks of developed nations, is once again drawing attention.
The Engel coefficient, which represents the proportion of food expenses in consumer spending, exceeded 30% last year for the first time in 31 years. This is because overall consumption has contracted due to an aging population and economic stagnation, while food expenditure has increased as the prices of groceries and dining out have risen.
It is analyzed that changes in lifestyle, such as not cutting back on dining out and delivery despite thinner wallets, have also had an impact . Oh, the cold index is coming out here. Looking at it now, wow, it was 42.4% back in 1970, then dropped to 4%, and even fell to 26.7% when Korea hosted the World Cup in 2002, but the Engel coefficient is rising again .
So, the Engel coefficient for 2025 is 30.3. It's 3. It surpassed 30% again for the first time in 31 years since recording 30% in 1994 . Last year, Korean households spent an average of about 3.66 million won per month. Of this amount, out of approximately 1.108 million won, 568,000 won was spent on groceries and 5,433 won on dining out .
Generally, the Engel coefficient is higher in developing countries. The Engel coefficient for Korea was 48.3 in 1968, when the winter season began to be compiled. yes. Since it is hard to make a living, how can I possibly go to cultural performances or things like that ? I spent almost half of that money on food.
Then 46.9. Then, it was 40% in the 1970s, but dropped to 30% as it entered the high-growth period of the 1980s. In 1993, it recorded 29.4 tests, entering the 20% range, and since the 2000s, it has maintained a level of 27%. However, since 2020 when COVID-19 spread, it is now on an upward trend again.
Now, the fact that the connection coefficient has returned to the level of 30 years ago is not unrelated to changes in the population structure, as elderly people who rely on pension income are reducing other consumption such as cars, clothing, and furniture, but are not reducing their main expenditures on food, such as eating out .
The change in consumption patterns among young people, whose disposable income had been shrinking due to shrinking employment and rising housing costs, also had an impact, as they opened their wallets for small luxuries such as a 150,000 won luxury hotel shaved ice or a porridge costing over 10,000 won per person .
Over the six years from 2019 to last year, the disposable income of Korean stores increased by 29.4% and consumption expenditure by 24.5%, but food expenditure increased by a whopping 35.3% . Japan, which is experiencing an aging population before Korea, is also seeing its Engel coefficient decrease .
Last year, Japan's aging coefficient reached 28.6%, the highest level in 45 years. In a way, salaries are n't increasing, but prices have risen a lot recently. yes. Even the deputy director's house, where I go often, was 7,000 won just three years ago. 6,000 won to 7,000 won. But 8,000 won, 9,000 won, 10,000 won.
yes. It became 10,000 won in an instant. I'm not sure if it's 10,000 won or 11,000 won. So, regarding food expenses, I think it's not that people are eating more than they used to when they spent 300,000 won, but rather that the prices themselves have gone up. Oh, for reference, my Engel coefficient seems to be around 80%, 70%, or 80%.
I spend almost 70 or 80% of it on food. This consumption has a very backward, developing-country vibe . I think I spend almost 80% on food. Well, since I don't spend money on anything else. Okay, the struggle with loans... ah, I just finished this. Cosmetic stocks, which had been sidelined by sectors like semiconductors despite record-breaking earnings, are showing signs of recovery.
Analysts suggest the sector has entered a rebound phase, driven by robust export performance and growing expectations for earnings improvement as the company enters the seasonal peak . Now, most cosmetics stocks have been showing strength across the board this week, but as of today, Dalba Global, Amore Pacific, and others are showing a downward trend compared to the 16th .
The atmosphere is quite different from last week; most welcome stocks rose by as much as 46.99% from the beginning of the year to the 13th, but this fell significantly short of the KOSPI index's growth rate of 27.3% after excluding the APR. Korea Holmar at 9.6 and Cosmeco Korea at 4.0 recorded single-digit growth rates, while Cosmax ( -0.44), Dalba Global (-1.76), LG Biomed (-1), and -7.59 recorded negative figures.
Despite achieving record-breaking performance thanks to the K-beauty market, it failed to lead to a rise in the stock price . Korea Kolmar and Cosmax, the two leading companies in the cosmetics manufacturing and development industry, both recorded all-time high performance last year. Oh, really? Looking at this stock price alone, you might think that business isn't doing well these days, but this is the result of a surge in orders from global beauty companies and indie brands based on solid manufacturing capabilities.
Additionally, Dalba Global recorded sales of 163.5 billion won in the fourth quarter of last year, exceeding the consensus by 12% . The securities industry forecasts that cosmetics stocks will rebound, as global demand for K-beauty remains solid and the sector is relatively less affected by the war capabilities of the United States.
According to the Korea Customs Service, cosmetics exports in January and February of this year amounted to $1.853 billion, an increase of 18.5% and 5%, respectively, compared to a year ago. Seasonal peak periods, such as spring and summer when demand for cosmetics increases, are also identified as a strong driving force for growth.
Lee Gyo-seok, an analyst at Shinhyung Securities, stated that with summer, the season for sunscreen, approaching, it is necessary to pay attention to companies like Kolmar Korea, which have strengths in ODM . The stock price is unable to rise due to relative attractiveness . It's the opponent. The most powerful opponent among them right now is semiconductors.
yes. With buying interest flocking to semiconductors due to record-breaking performance, yes, other sectors are... uh, we are also growing by 20%. We are also growing by 30%. If you do that, hey, that's 160% growth for semiconductors. It's 170% growth. It works out like this . So, for these stocks to rise, the sales or profit performance of semiconductors needs to start to decline.
When talk like this comes up, yes, these kinds of stocks will probably jump. Okay, this is the last article. It is the biggest beneficiary of the Iran war, so sell it; it is going further. I checked to see which stock it was. It is CF Industries, North America's largest nitrogen fertilizer company, considered one of the biggest beneficiaries of the Iran crisis .
The ticker symbol is CF. Wall Street views are divided regarding CF's stock price. As stock prices surged in the short term due to geopolitical risks originating from the Middle East, voices recommending profit-taking are clashing with optimism that structural benefits will continue . Now, CF Industries' stock price closed at $126.73 on the 18th, up 2.79%, and the stock price growth over the past month reached 32.26%.
In particular, stock prices surged after the U.S. and Israel carried out an offensive against Iran. This is because concerns over fertilizer supply have grown as the possibility of a blockade of Hormuzhao, through which 33% of the world's maritime fertilizer flow passes, increases . With buying pressure driving up the price, it rose to 137.44 during trading on the 12th, breaking its 52-week high .
Uh, this is the stock price trend since the beginning of the year . I saw that it was 80 won, and then it went up to 137 dollars. Now, the current stock price has fallen to the $120 level and is showing signs of stagnation. Meanwhile, Wall Street is holding back the controversy over short-term gains.
Mizo Securities recently issued a neutral investment opinion on CF Industries, meaning it will underperform the market—not underperform, but underweight. It will not be able to reach the market return from a neutral investment. If you can't keep up, it's true that you're underperforming. They lowered the rating to underperform and set the target price at $100.
This is based on the judgment that the surge in oil and fertilizer prices due to the Middle East conflict has already been reflected in stock prices, and that prices will fall if the conflict eases in the future. Even amidst controversy over a short-term peak, the company's fundamentals are evaluated as solid; it turns out CF Industries is the world's number one company with an annual production capacity of 10 million tons of ammonia and 20 million tons of fertilizer .
The core competitiveness lies in the cost structure. This is because we can procure this thousand-year gas, which accounts for a significant portion of the production cost of nitrogen fertilizers, at a low price. The industry secured price competitiveness by utilizing inexpensive natural gas from North America .
This is in contrast to the contraction in production by European competitors, whose energy procurement costs increased following the Russian War. With the advantage of reduced logistics costs due to its geographical proximity to the U.S. and Brazil, the world's largest fertilizer consumers, and forecasts suggesting that a prolonged lockdown would act as a positive catalyst for stock prices, analyst Ko Min-seong of NH Investment & Securities analyzed that global fertilizer prices are highly likely to rise further if major exporters like Saudi Arabia, Bahrain, and Gulf states lose their share of exports.
He further predicted that the company could benefit from short-term price increases and demand for supply chain diversification . There are also views anticipating upside potential in the stock price; [ __ ] Capital recently maintained its "Outperform" rating on CF Industries and raised its target price from $115 to $140.
This is based on the judgment that earnings defense will be maintained as long as structural cost advantages and global supply constraints persist. Ah, so recently, the stock prices of domestic fertilizer companies, starting with Jobi, have been rising rapidly, haven't they? So, when stock prices surged globally in this sector, this went up with the exact same momentum .
yes . But regarding the nature of the war, well, it might drag on someday, but rather than betting that the war will keep going on, I think that the war will eventually end. Betting on that uncertainty is a bit much . Right? So, ah, sell it, I'm going further. Largest order in the Korea-Japan War . yes .
Investing based solely on this is difficult, considering the second pandemic came in 2021, but later on, due to temporary orders from COVID-19 like Jinjindan Kitter and Seegene, and the rubber glove business at the time, it was a cycle of using and discarding. As a result, in the case of Geummo Seoyu Chemical, the stock price...
It surged, but eventually it all dropped, didn't it? So, hmm, it feels a bit burdensome to get involved right now. I actually think it would be better to give a little more weight to the opinion that you should sell it. That's all for today's Warm Heartbeat . It is a day where the night has turned into the afternoon, and now you can feel the spring breeze and sunshine .
But when I left in the morning, there were no movie jobs again. So, when you go out, make sure to dress warmly—yes, even if it means taking off some layers if it gets hot. Please dress warmly, take care not to catch a cold during the changing seasons, and I hope you have a healthy Thursday afternoon.
Thank you. hello. This is Park Se-ik from Chesley Investment Advisory. Recently, there have been frequent cases of people using Chesley's name to lure others into investment sites, Band, Telegram, KakaoTalk channels, etc., and then causing financial damage. I, along with the employees of Chaesli Investment Advisory, do not engage in any investment advisory activities through social media or online channels .
For official advice, you must visit our office and go through the contract signing process. Therefore, please exercise extreme caution, as any paid or free investment advisory activities are illegal . If you receive a suspicious channel or message. To prevent damage, please report or delete it immediately .
In most cases, when I see the mobile phones of those who suffered damages on the 4th floor, they come to my room and I help them with their investments for free . So, that is what we are talking about . If you look there, it says to guide the money to a specific band and then do the palm reading . yes.
Since that office has no contractual relationship whatsoever with our company, we ask that you pay special attention to the matter of them requesting a money transfer. Not only me, but also many impersonation rooms impersonating famous figures in our industry are currently rampant. The common feature is that I will tell you about stocks that will skyrocket by several hundred percent in the future, so hey, join this room.
After that, because they use a tactic of requesting a financial transfer, we provide you with free stock information. If you receive such messages, please delete them immediately . Uh, we hope that none of the damages like this on the 4th floor will occur to our Chesley customers and subscribers who love Chesley and its employees so much .
Then, I wish you all peace and happiness always in your homes and workplaces . thank you
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