Why did the stock market have a seizure? With U.S. employment data coming out incredibly well, one interest rate hike is a given, and the probability of two has exceeded 30% . What you need to understand here is that when a certain probability exceeds a critical point, the stock price suddenly reflects it. Is it at a level where we can predict and respond? You need to look at the criteria. If I go with Samsung, the biggest problem is, will it cost 300,000 won, 350,000 won, or maybe 250,000 won? I just do it by feel. Don't do it. If you are not prepared, you will definitely end up paying the cost . Then what do I have to do? We will explain how to view it. Hello. This is Park Seon-young from Knowledge Class, the time to share real knowledge that isn't taught in school . On June 8, as Samsung Electronics and SK Hynix plummeted, the KOSPI also fell below the 8,000 mark . It literally showed a Black Monday . The belief in a bull market for AI semiconductors turned into fear in an instant. Whether this downturn is temporary, whether the real peak has already been reached, or if we have no choice but to just endure this, today we are looking at the predecessor of SK Hynix . Together with Center Jang Min and Kim Jang-yeol, a semiconductor expert from Hyundai Electronics, I will ask them thoroughly if there really is no solution . Nice to meet you. hello. Nice to meet you. It is Kimjang. The stock market really collapsed today. If we count the recording day, today is Monday. It’s safe to say it’s a Black Monday. yes . First of all, when the stock market crashes, ask yourself this question, as it is the key. They ask if there are any issues with the fundamentals . There are no issues with the fundamentals. Even so, there are many cases where stock prices fall . So, the performance is good, so why is it dropping? There are so many people who are curious about this. It's not like anything happened at the company, so I think it'll be fine. That's just how the stock market is. The current fundamentals are actually just an estimate for this quarter based on the earnings from the last quarter . That is roughly the extent of what is referred to as the current status of fundamentals. Macro variables that influence fundamentals— such as interest rates, exchange rates, and geopolitical factors—change frequently, but when looking at the current state of fundamentals, there is no change in what we know. But why are stock prices plummeting? Stock prices are falling in advance because investors are concerned about the possibility that future fundamentals could turn negative due to macroeconomic variables . What is that question? You always need to pay attention to macro variables rather than fundamentals . Looking at the stock market these days, it feels like the saying "it has gone this way, so it will go this way" holds true at all . So, regarding this macro, then what do I need to look at now? Things like interest rates or international affairs, right? In our case, since we are a major exporter, the exchange rate is the most important factor. Secondly, if the US interest rate goes up, our won becomes very cheap, right ? Falling values, exchange rates, land prices, geopolitical risks, Middle East risks, and geopolitical risks connected to North Korea are actually not risks. It is just a concern until it explodes and a real war breaks out . On the contrary, yes. This is a nearby variable, and besides the direct one, there is something else. Our country's market hasn't opened yet. So, as we commonly say, it is not classified as a developed country, but rather as a developing country. Ah, but right now we are hoping to be included among developed nations . There is an expectation that developed countries will be included in the watchlist of the so-called MSC index in June and July . Accordingly, even if Samsung Electronics and SK Hynix make the same profits, how much foreign capital flows in and how supply and demand are managed becomes a variable that affects our country, rather than just global macroeconomics . Are those macro variables at a level where we can predict and respond? hmm. That's a good question. Macro, the U.S. benchmark interest rate is currently between 3.5% and 3.75%. As of June 8th, when we are recording today, the probability that interest rates will be raised has increased significantly. Last weekend. But the issue is, why did the stock market have a seizure ? With U.S. employment data coming out exceptionally high on Friday, the fact that there is a lot of hiring can, in itself, lead to inflation. Ah, it’s not like the probability that interest rates would rise was somewhat unforeseen. yes . We've been talking about this for a while. The expectation that interest rate hikes could happen once as a baseline and twice—that is, once in October and once in December—was very low but has now surpassed 30%. That is exactly what the stock price emits. What you need to understand well here is that these are probabilities, for example, the probability of an economic recession, an interest rate hike, or a war. When you talk like this, I do n't care about even 20% or 10%. However, at some point, when it crosses the critical threshold, the stock price suddenly reflects it sharply after having reflected it up until that point. Based on my experience, that is 30%. The critical point for oil prices, according to market discussions, is around $120. $120 is the critical point. But how do you talk about interest rates? There were signals like that earlier, but I am concerned about the movement of 10-year government bonds . The U.S. 10-year Treasury bond is currently around 4.5. Since the base interest rate is around 3.75, there is a discrepancy. The fact that 10-year government bonds are rising indicates that market interest rates are already showing that the benchmark interest rate will soon follow suit . That possibility was shown once in mid-May, and the South Korean stock market itself dropped by 6-something percent in mid-May. Now, as of today, June 8th, it has dropped by almost 9 percent, so it seems unlikely that the benchmark will be lowered twice to return to its original level. The stock market will only rise again when there is a sense of relief that this is merely a preemptive measure taken just once. So, how do you view that? What other indicators are there besides employment indicators? The CPI ( Consumer Price Index) will affect our country's market this Thursday morning . If that is too high, the main market might not go well . Even though it has hit rock bottom, the most critical issue regarding macros that is causing concern is currently unfolding. For those of you thinking, "Oh no, it's Saturday, what should I do?", then what are you supposed to do next Monday? Ah, I couldn't do anything. Ah, how is it going to be with Former like this? As for Monday, I don't know. We don't know if Former will come or Peer will come then. Stock prices have to go up for the former to come, and if stock prices plummet, fear sets in . Then, what should I do when I run over ? If Pure comes, you must not sell it. It's too late, and you should n't buy it when the time comes. Then what do we have to do? So, you have to stay calm and do it . Ah, it’s not easy to stay calm. Ah, if you look for tofu, you shouldn't invest in stocks . If 4 comes, 3 won't work. If you sell it when the pier comes, you'll be a fool . But if you come here and tell yourself you shouldn't sell and hold onto it, yet later look back and realize that you should have actually sold it at that point, then isn't that essentially cutting your losses? You've hit the stop-loss rule. What is the stop-loss rule ? Uh, when you have an accident and have fallen more than 20%, you should stop looking ahead, admit that you went in the wrong way, and quickly give up and get out, but the problem is that you don't give up at that moment. But there are many situations where people end up selling based on Buhan Donghae even though it seems like there is simply no change in the fundamentals. That is being sold out of fear, and the reason it is being sold out of fear is because it was bought at a high price . The horror part has arrived now, and it's Fear. What is a grid? It's greed. So, when the former comes, it becomes like this. If this indicator is 75 or higher, it won't be 3. The former is coming. Where can I check that index after selecting it? This is measured every day at the CNA. Oh, please update it every day. yes . It comes out every day, you know. If this drops further today, you have to buy it at Extreme Pier from Fear . And as for the Extreme Mask, you either have to sell it or you should n't buy it. yes . Then how do you beat FOMO? Regarding the former, the standard is that you need to look at the target stock price. yes . If you go with Samsung, the biggest problem is, will 300,000 won from Samsung Electronics go in? Will it cost 350,000 won? Will it be 250,000 won? I just do it by feel. You know how many people— 30 analysts—give target stock prices. each week. That's not a lie. But since one person isn't better, it became a consensus when several people gather and do it. Discarding the top and bottom digits— that is truncation. So, aren't I suggesting taking the consensus number like that and subtracting about 20 or 30% from it? Wall and Buffett: Everyone sets a margin of safety and waits until it drops below that, and if it doesn't come up, they don't buy. What are you guys talking about, sticking right to the target price? The average target price is 300,000 won. But the union strike ended there at 299,000 won . Why are you following me like that? Right? Then, if you get bitten there, you won't be able to hold it even if you go down just a little . The problem is that they keep repeating that, so please look at the target stock price. Yes, you need to understand the target stock price. I'll really give you just one more thing. For those who invest even when the target price is borderline, the mindset is that the target price keeps updating and keeps getting higher. Even if it rises at that point, I suggest reaching a consensus at that time and watching. How far will Samsung Electronics go? It was about 400,000 won. If you multiply 400,000 won by 0.8, it is 320,000 won. If you do 0.7, it 's 280,000 won. When the amount fluctuates like that, around 300,000 won, you need to consider it a risk before investing . If the current consensus is 420,000 won. There is one for 600,000 won, but since there are lower consensus rates, you multiply 420,000 won by 0.7. You know, 7. Then it is 298,000 won. The stock price closed at 295,000 won today. It was 292,000 won this morning, right? Then you can go in. But even in this case, the discount rate you see has gone down, hasn't it? You should n't listen to it all at once. I have to watch it. Do you predict how the macro will turn out based on the macro situation? I can't do it. You never know what might happen in a day or two. I'm going in out of frustration. When that range arrived, after hearing Mr. Kim Jang's story, I thought, "Oh, it was 298,000 won, but it became 295,000 won ." Something like 50 million won that I threw. of course . Who does that accurately? Wouldn't that be the timing to start buying some? It provides that kind of guidance. If macroeconomic fluctuations are severe, you must set the depth of the split deeply; considering that it is not just today but several days or a week, institutions recover and do it 20 times when they redo it. So I never bite. Bite the small one. The reason is that the small ones have power because they don't know them well . But the big ones like Samsung, SK Hynix, and Hyundai Motor are being bought separately. Do you know how foreigners live? How do I do it? We will share it for 60 days. Ah Back when I used to buy a lot of energy, I even bought it over six months. Oh, I really like it. no. That is how you eliminate the risk . Ah, since it’s always Samsung Atomic Energy, you should n’t just jump into doing something different all of a sudden. You have to follow along while considering whether you might lose votes for that, but Samsung Electro-Mechanics is solid these days . The moment the Samsung Electro-Mechanics report comes out at 3 million won, I buy 2.3 million won. We don't have much leeway with this either . I have as much as 700,000 won. In terms of ratios. ratio. When they called out 3 million won, the consensus was 2.3 million won. If you multiply by 7, it becomes 4 7 28 74. Now that it has reached the 1.7 million won range today, it could be the starting point where you can re-enter . When there is no momentum, you can place a 30% bet up to about 0.7, and when there is momentum, you can place a bet up to 0.8 or 0.85. I mean, it is 1 million won, so what is the point of going and buying it at 900,000 won? Because I think I might miss it . I think I need to buy it even now. Don't do it . yes. Then it stabilized. At that time, 80% is fundamentals. Since the focus today is Samsung Electronics and SK Hynix, the semiconductor industry depends on how much it grows. And they say that semiconductors have cycles. Once every four years, once every three years. What is it? If you make a lot of money for about two or three years, then perhaps due to the cyclical nature of that, people think it is cheap right now. Samsung Zeiss isn't 7 times right now, but what I mean by knowing it's 7 times is that the PR 7 times I mentioned is 6-something times. This is bringing forward the 7 years by 7. South Korea seems to be around the mid-7x range right now . The US is now about 20 times larger . It's giving you 20 years' worth in advance. But it's okay to hang it there after seeing that it's already pulled in. Because macros will come in intermittently. That's a good question. Because the U.S. has so much history. Try taking the reciprocal of the 4.5% monument government bond . 20-something is the appropriate PER/PR. It applies to every day . So why does the stock price go up and then stop? Since the total SMP is 500, that means there are 500 companies. Because the U.S. has that history, that doesn't change much. So if it becomes 22 times, it becomes 23 times expensive, and if it becomes 18 times cheap, it goes back and forth . But since Korea is an open market, that isn't working well. Korea is following past patterns; in the past, it accumulated less than eight times, and if it went up twelve times, it was considered very overvalued. So, I thought it would average tenfold, but right now it is at a level of less than eight times. Ah, even when the war broke out in March, I think it went up to eight times or less, seven points or something like that . So, right now, based on delirium, it is cheap . But since the macro is such a mess, how is this resolved? Also, since the weight of semiconductors, including Samsung Electronics and SK Hynix, has become so large, if a variable arises, isn't there a chance that this 47-something point figure might go awry ? The stock price level dropped again in the middle of the 5th because those concerns were mixed up with macroeconomics . So, regarding the fundamentals, I mentioned earlier that semiconductors have cycles. Do you know how much Samsung Electronics and Hynix are worth? The past pattern is that Samsung Electronics is six to eight times cheaper, and SK Hynix is ​​four to five times cheaper. It has dropped to about six times its original value. There are expectations for Samsung Electronics to reach 550 trillion won next year. Hynix is ​​projected to reach 270 trillion won this year and 420 trillion won next year, but they aren't pulling the numbers forward again for next year. The six times mentioned earlier is based on this year's performance . If next year's earnings are based on the consensus, it is less than five times. It's super cheap. If that is confirmed over time, the discussion will inevitably lead to the view that there is more upside potential at the current level, even if it does not necessarily result in a re-rating . Ah, for the many people who have invested in semiconductors right now, should I keep investing, get out to take profits, or just watch since it is expected to drop further? Should I buy semiconductors? I already bought it. Ah, I bought it. Then, you have four questions. Will you break my arm and go? The reason the stock price has dropped is that the slope of the rise was a bit steep. Even though the PER is low, the stock price has definitely risen a lot . The counterargument to that is that memory value is not yet expensive. yes. But if profits go down next year, it's a bust. The earnings consensus for next year is 30%. Samsung Anix. Should I believe that or not? If worrying news comes out and the mindset is that the energy is wrong, then if you can't trust this, you probably can't buy it. But I trust Cons right now. There's no need to sell it . The second question is, ultimately, semiconductors have to be sold, right? It seems like the demand will be tremendous. Data centers account for nearly 60% of all semiconductor DRAM . Amazon, Google, and even Microsoft are all taking up all the data centers and servers . We're investing in AI. So, there is no volume left for the remaining mobile phones and PC consumer sectors. That's true. Since it's going up so much like this, is n't it possible that people are faking it? Isn't it just bubbles? I have a lot of thoughts like this. I'll refute that as well. Can you tell how big the first demand will be next year ? Is that an unpredictable field? I'll ask about this. Do you use Chaechipi? Do you enjoy writing this? You can't use it. yes . I use both. Ah, I use both. Do you use the paid version? I use it for free. Ah, I use it for free. But I asked Yuus, if the price becomes 35,000 won next year, will I stop using the one I'm currently using ? no. I think I'll use it. yes. So, if OpenAI is said to be gaining traction and Entropy is going public, and they make money, then they will continue to use semiconductors, right? Then, the burden of rising semiconductor prices will likely cause them to continue using them. So, the most important thing is that we need to ask ourselves whether or not we will stop generating a lot of tokens. People who are not smart workers or developers use something called AI agents instead of doing it themselves. Hey, you investigate this, you organize it, and if you have the opportunity, you pass it on to about three agents. So, how many times do you usually ask questions? It doesn't go up to five times. Since it's difficult, they do it 50 times, 50 times, 50 times all at once. How many agents will how many people run simultaneously, and how many loops will they run? That is determined by the number of tokens. That would be explosive. Right? There is no one who can calculate that kind of thing. Because you never know how much you will love in the future . If you can't do the calculations, you keep going until you do. Ah, after opening, Entropy's listing will be in the fourth quarter. Going public means communicating with the market. Then, they are bound to disclose how they view the market and what the variables might be, even if we are not fully aware of them . Then the market has probably factored a lot of that into Inderprice's stock price. Third question. Anyway, since it looks like AI will do well, so what? The biggest buyers of our pickaxes are big tech companies. The important thing is whether Big Tech continues to invest, but since they are investing so much, wo n't the growth rate of investment slow down a bit starting next year? Perhaps because cash wasn't circulating for them, Alphabet and Google engaged in pseudo-electronics not long ago. They must have a lot of money. Isn't it possible to have such a thought ? It was what made the anxiety grow. That's right . This is a question. You have to keep watching this. But there is a rebuttal to that. Symbolic terrain. It is a symbol of the terrain. It is like riding on the back of a tiger. If companies like Amazon, Alphabet, Microsoft, and many others compete, even if I don't do it, what happens to me? As competition faded away. Even if I do it, if I do it together, it won't be taken away. I'm not a loser. If I do it and they fall behind, I'll be the one eating it all . This becomes the prisoner's dilemma, and if you fall, you just die. So, because it is a prisoner's dilemma situation, Buckshaw, founded by Wall Street and Warren Buffett, said it would invest another 10 billion dollars in Google during the recent paid offering. I did 200% last year. Even though the stock price went up, Yoo Sang-jae invested $10 billion trusting AlphaS. Then we'll go together . If things turn out this way, we have no choice but to trust this and move forward. yes . What's the very last one? They say everything is fine and we should follow because it's ahead, but since semiconductors seem like a good sector, Samsung, Hynix, Micron, and even China are investing massive amounts . If demand is good and the semiconductor supply increases too quickly, then eventually, supply and demand will balance out, wo n't they? It is not the moment when supply and demand balance out, but rather a strong belief that supply and demand will balance out. If caught, the stock price drops more than six months in advance. Ah, I'll leave first. Recently, the American global house Barkl could see a price drop for a select few starting early next year . I said this, but in Korea as well, about one in ten people does n't know what will happen at the end of the year and the beginning of the new year. We're talking about this, and it's June right now. You cannot enter the stock price now. hmm. Since it will be reflected starting 6 months from now, is this correct? Another point is that while Samsung, Inis, and Micron occupy over 90% of the market, there is a Chinese semiconductor manufacturer called CXMT that accounts for about 7%. They are actively increasing production . The technology is lacking, but then eventually it will go to consumer PCs or mobile phones first, rather than data centers . Then, as I mentioned earlier, if that works out, the price tends to drop steadily starting from that point, so it is difficult for a short-term trade here to follow that pattern. Do you know why? Since it is currently so difficult for companies to secure shipments, they keep getting hit with LTAs . LTA stands for Long-Term Agreement, a long-term supply usually priced on a monthly or quarterly basis, but it is approaching as if we are pre-ordering two or three years' worth in advance. It has already been discussed that we will proceed by signing an LTA . This is what went up in April, March, and May. With this approach, even if a downturn cycle in the semiconductor market comes, it won't crash or anything like that . Since they know that, the Samsung Electronics labor union can earn 200 trillion or 240 trillion, so the bonuses continue . So, when we evaluate Samsung Electronics, even if it’s not 300 trillion or 400 trillion, hey, it’ll be around 200 trillion to 450 trillion. Then, based on the operating profit of 2,450 trillion won, when calculating compensation, it still comes out to between 250,000 and 450,000 won. That evaluation comes out to about 350,000 won, you know. yes . But these are the strings in the middle, you know. It's fine if you go in low, like 0.8. From 35 * 0.8, currently, it is at 84 38, 280,000 to 290,000 won, it came the day before yesterday. It's now. I'm not the only one who thinks that way; all fund managers do. If you guys don't do it, you'll be a fool. That's how they do it, so I'm telling you, I don't follow the trend of going in high to survive when they throw. So, regarding the question asked earlier, please look at whether there are many errors, whether the rebuttal is correct, and where the balance has been added. Then, regarding investing in Samsung Electronics and SK Hynix, since Samsung Electronics and SK Hynix dropped significantly when we focused on the key points today, I will explain how to analyze the situation. This isn't the rule. And if the stock price mentioned here reaches this price, you must buy it unconditionally. Or it’s not like I have to sell it. Please don't misunderstand. There is no opinion from Unistory Asset Type, which I sued . You have to make the decision yourselves. However, I will tell you that this is a reference that can serve as guidance to help . yes . The choice is entirely up to the investor. yes . Samsung Electronics and Hynix basically go together with Micron Technology about 80% of the time. But it goes up less than Micron Technology does. If we get into the micro, we tend to get into it even more. Why are you acting like that? It’s not subservience to a great power just because it is the Republic of Korea; that is the reality. But you really can't consider the frightening fluctuations of rising and falling as a characteristic of South Korea . That’s a good question. Micro is currently doing this in the US for about 10 days. The weight of individual stocks isn't in the 20-something percent range like Samsung Electronics or Hynix. Hmm, the role is small, isn't it? There is dispersion, you know. Since there is no such impact, when going up lightly, it goes lightly . Since Samsung Zynes currently accounts for 40 to 50% of the total, if the market as a whole doesn't move, Samsung Zynes feels a bit heavy. It goes less. When going . Another reason is that, as I mentioned earlier, there is still a discount in the Korean market, so it is going less than Micron and has a lower valuation. So, you just need to study micro. In March, Samsung Atomic Energy, Hynix, and Micron were all in a frenzy. What was it in March ? There was a war. yes . I lost over 20% when running the dungeon . But then, starting from April, it goes up. Why do big tech companies keep investing at the end of April? Samsung Atomic Energy's performance was excellent. At that time, Micron rises 20%. So it goes well over $600. And when our anchor was trying to exit the stock market in May, it was from May 7th, but they ran quite a bit from May 7th to May 20th. Have you heard of the CPU shooting game that Micron went up in back then? It was starting in May that the stock market went into a frenzy upon realizing that a lot of CPU is needed for GPUs to run well. It was also in May that Nvidia stepped forward to sell CPUs separately, thinking that since Intel and AMD, the leading players in the CPU market, have high stock prices and CPUs are decent, the CPU market would be great even though it is smaller than the GPU market. That is why semiconductor stock prices went up a lot . Semiconductors have gone up a lot. MLCCs have gone up, semiconductor substrates have gone up, and everything has gone up like this, right? that's right. I can't forget that fiery woman . that's right. yes . However, the utilization period is May 26th. This was when the stock price was less than $800. At a UBS stock market, it was in the 700s back then, but now it has far exceeded that figure. It's already $535. This guy suddenly triples the price. $ 1625. This is when the PER is less than nine times . It gives 15 times the amount. I told you earlier. What did you say? I told you it’s not easy for cyclical stocks to go up tenfold . If you give me 15 and say something, I'll say, "Hey, the cycle has changed." I mentioned LT earlier, right? Long Tong Grimont is coming out. So, there will be no semiconductor crash. So, it is maintained for 15 years from the same profit. I called out to them like this . And also, before that, there was a huge fuss about Samsung Electronics and Hynix target stock prices of 500,000 won, 600,000 won, and Hynix at 3 million won, 4 million won. And it dropped 20% yesterday and the day before yesterday. 48.64%. When this target increase is achieved, the question is that you shouldn't blindly follow the target . Oh, of course. What should I do? We look at that and see the highest consensus. Consensus. The consensus was $1,000. Then you need to know how to analyze whether it becomes $1,600. Someone like me thinks, "This is too much." I'm not sure about the $1,100. It's too severe. $1,000 $1,100. Then, how much should that be multiplied by? 0.8 0.7 Looking at that, will he go out while assessing the momentum? You have to do it this way. But 12 billion is too much. How are we supposed to make that judgment that we should consider it as 1 ? Inexperienced people. You have to believe me. So , how do you catch it? At that time, when it was actually good at $660, this could n't be broken. You need to grasp the concept that making this much profit is a fact until Jeonse prices plummet . And when we went there, it was just now, wasn't it? You followed along out of excitement. Then, will you believe this ? It's ambiguous. I choose the median. Then, how much does this come out to? It comes out to $78. Then what is it? If this breaks, is something wrong with the hand point? What we see. That is how I do it, and another thing is that I am not completely saving the CPU; this side is a better fit than this one. So, if you apply the weight to the May 26 mid-price, it comes out to $827. In that case, I believe that even if the price drops further at this level, buying at low prices should occur . And this is n't a loan that came through, what did I say earlier? You said it was nine times, right? This is when the PR is less than eight times. If Micron is not eight times its past value, it is cheap. Then you should be able to enter . This is how you pack it. If you hold it like this, then the Samsung character is exactly the same. Samsung Electronics dropped 23% and then 21%. It's similar to earlier, right? Let's go together. But what is this one on May 27th? We were really underrepresented. What was there? Let's average it out because of the sudden variable of the union strike . 297,500 won. Let's believe this a little bit. If weighted, it is 300,000 won to 310,000 won. Um, next, I mentioned the target stock price earlier . What is the target price consensus ? 600,000 won. Not this, not 570,000 won, but the average is 426,000 won. Try searching on Naver . This changes every day, but it is 426,000 won. Since the momentum is bad for a safe 20-30%, if you do 30%, it is 298,000 won. You can see where and how to approach it, right? yes . yes. yes yes. Hynix went up by the same 24%, 24% . So, there is another one of these 27 . What is it? Double ETF. Ah, we probably went a little overboard too. Then, with a 70% weighting for this and this, the target share price of 1,986,000 won is only 2.7 million won. There are 3 million won and 4 million won, but the average is safe. If you do 30%, it is 1.89 million won. The closing price ended at 1.87 million won earlier today, right? Even if you explain it like this, those who can't do it still can't . Then the stock price was seven times the Friday closing price. How much is the micro? Micro was 8.5 times at Friday's closing price . It's that discount. This is a burden, isn't it? If you use the 70% base price, the target stock price is six times higher than the 30% safe-fit mentioned earlier . If there are no other variables, it becomes the time when you can enter . But you don't necessarily use 100% just because it's done now; if you divide it up and monitor the momentum day by day, the past cycle... as I mentioned earlier. Samsungja is either salvaged from eight mushrooms or increases by 5,900 minutes. Hynix used to be hundreds of times ahead of Samsung, but that doesn't happen anymore . Then, if you subtract five or six, it's cheap . So, today's closing price went up 6.2 times, 6.7 times, 7 times, and 8 times. Right? From this point on, you have to split it up and enter . So, when it comes to stocks, I have already bought a lot of stocks. I bought Samsung Atomic Energy for 200,000 won. What is Hynix? I bought 1.4 million won and 1.6 million won. If you have already established a sufficient low position, do nothing. You have to think carefully when the macro reaches its threshold. If the 4.7% government bond yield I mentioned earlier is met, or if oil prices reach $120, then it could start to go down from now on. Then you really have to think it over. At that point, should I start realizing profits by selling in installments ? Or you know that based on the length . If you look at the semiconductor age and AI cycle in the short term, you might feel embarrassed about it . So you need to study. The question is how to proceed, looking at things strictly over one year, two years, or three years at a time . So, what happens? If you have already invested a lot and your brother holds 20%, entering as a new investor is like placing new shares. when? When I lost a lot of weight. This is conservative. The reason I'm neutral is that my weight in Samsung is too small. There's only 30%. The market cap is 50%, what should I do? Then, when getting an adjustment, it would be good to just adjust it little by little to increase it. But the thing to be careful about is that I'm anxious about whether it's a disability. You know that useless thing where we go together . It seems like you were talking about a different sector earlier, but you have to get rid of that first . Why is this considered neutral to focus on Samsung Electronics Nix ? But if you put all your portfolio into just the top tier, the risk comes up really high, doesn't it? It ca n't be done. If you want to enter the Korean market, you have no choice but to sleep like that, but if you are worried about that, go for the US market. I am not saying that it is okay to structure the portfolio that way; rather, it is to do it with the Korean market as the center . But usually, don't just go into the 3rd generation; literally, don't go into the materials, parts, and components sectors. You are doing materials, parts, and equipment after Samsung Zainice has stabilized . You can do materials, parts, and equipment. But you have to study much more. Samsung Electronics Ines is helping out a lot of people— 30 of them, and there are people like me too—so if we build a good materials, parts, and equipment business, it would be a huge success. One wrong move and you're screwed. Why is it that there is no ratio of less than 20 for materials, parts, and equipment? PER. And there are also 40 times and 30 times. That's what I found out . If you catch it wrong, it's a bust. However, if Manager Song goes into ETFs ambiguously, they are still mixed in, with some centered on Hanmi semiconductors and others centered on Isupathes. Do not proceed if you do not understand the composition or if you are not confident that you can handle individual stocks. Doing that isn't easy, either, anally. You should do short-term trading in the materials, parts, and market when you have real leeway, after Samsung Electronics and Hanwha Electronics have risen and stabilized. But for aggressive ones, it can go up to 0.85 when the momentum is good . But going above 0.85 or 0.8 really fails after about 80% . And why can't I cut my losses after buying 0.85 0.5 units? After he went in high. And it's a bust. I am saying this now . However, there are many people here who currently own both SK Hynix and Samsung Electronics . Rather than saying that only one of the two must be included. But those who have small CDs will probably go with Samsung Electronics. I think I have no choice but to join Samsung Electronics. It's 300,000 won, and this one is 2 million won. Right . yes. For the first one, I do n't really see the qualifications that justify the price difference. I said earlier that 300,000 won or 2 million won isn't the important thing. Regarding valuation, although Samsung and Hynix did n't set today's closing prices exactly, they generally fall around here. yes . Samsung is receiving a bit more, too. This is normal. why? Samsung has something that Hynix doesn't. Have you heard of something called a "foundation" in semiconductors, besides memory ? yes. It is still just sperm, but there is room for improvement. If there is no improvement and the deficit continues, this won't happen anymore. Samsung Aviation's revenue is 600 trillion to 500 trillion won, but in reality, even if you do the bound, it does n't even amount to 40 trillion won. The deficit is now 1 trillion won per quarter. But aren't you continuously investing in that direction ? I am doing it . One of the reasons I believe it can become profitable is that it has n't been able to visibly secure customers like Tesla or Qualcomm . It's the Darks, not Tesla . So this gap will widen further. I do n't recommend buying just one of the two, uh, I really do n't recommend it. You have both right now, so just let the market take its course . If you're not going to study, ET is better. It is better to mix in any ambiguous gold. If you strictly avoid buying at the top and buy at 0.8 or 0.7 or lower, even if you miss the rise, you won't have any reason to worry when it goes down . yes . yes. Today, together with Center Director Kim Jang-yeol, we took a detailed look at everything from the reality of the recent anxieties surrounding the semiconductor market to the sober future outlooks for Samsung and Hynix . I hope the Center Director's macroscopic analysis will be of great help to your semiconductor investments. We will be back next time. 습니다.