負債品質與流動性｜現金循環天數（CCC）是武器，還是炸彈？
從現金循環天數（CCC）、短期負債、租賃與供應商融資安排，判斷公司現金鏈是否穩健。
PVL 投資學堂
M-04 Primary Base 主底／初始基礎打底：最大獲利的起點
Primary Base 是強勢股在 Stage 2 主升段早期形成的主底／初始基礎打底。本文比較 O’Neil 與 Minervini 對 Primary Base、VCP、Pivot Point、供需結構與 Base Count 的定義，說明為什麼第一個底部往往是最大獲利的起點。
M-04 Primary Base: The Starting Point of Your Biggest Gains
Primary Base is the major early base of a Stage 2 advance, not an IPO-only setup. This article compares O’Neil and Minervini on Primary Base, VCP, Pivot Points, supply-demand structure and Base Count, explaining why the first base often creates the largest gains.
Asset Quality: What Are the Balance Sheet Assets Really Worth?
Learn how to evaluate asset quality through inventory, receivables, PP&E, goodwill, ROU assets, and HTM classification, and spot valuation risk, impairment flexibility, and balance-sheet beautification hidden in the notes.
資產品質，帳上的資產值多少？
從存貨、應收帳款、PP&E、商譽、ROU 與 HTM 分類出發，教投資人判讀資產品質，拆解財報註解中的估值風險、減損彈性與資產美化手法。
Shareholder Activism in Taiwan: Turning Scattered Retail Investors into an Army
Carl Icahn forced the PayPal spin-off with just 0.82% of eBay. How can Taiwan's retail investors turn scattered shares into an organized force? A playbook on the Company Act's aggregation toolkit, voting from home, and AI as the retail investor's force multiplier.
台灣股東行動主義：把散兵游勇變成行動軍團
Carl Icahn 用 0.82% 持股就逼出 PayPal 分拆。台灣散戶如何把散兵游勇變成行動軍團？解析公司法的集結器、數位時代不出門也能投票對抗無能公司派，以及 AI 如何成為散戶的力量倍增器。