About Me

Hello, welcome to my blog! You’re also welcome to follow my WeChat Official Account: Jianshan Notes (见山笔记).

I spent years in audit at accounting firms, then moved into finance and operations management across several investment companies. Currently working as a freelancer.

In this era of short videos and algorithms, knowledge is becoming increasingly fragmented, independent thinking is trapped in filter bubbles, and it’s harder than ever to sit down and read or write. Yet the depth of thought and long-term value that long-form writing provides cannot be replaced by quick, bite-sized content.

Writing serves me in three ways: first, to document my investment insights, business analysis, and professional knowledge; second, to build a personal brand and influence; and finally, to connect and exchange ideas with you.

Thank you for visiting — I look forward to the conversation!

Jianshan Notes

Jianshan Notes is an independent blog focused on value investing and business analysis, created and maintained by Canglang.

Core Philosophy

DCF (Discounted Cash Flow) is the first principle of value investing.

The intrinsic value of a company equals the sum of all its future free cash flows discounted to the present. This is not merely a valuation formula, but a way of thinking about business — it forces us to return to the most fundamental questions: How much cash can this company generate? For how long? And with what degree of certainty?

Being roughly right is better than being precisely wrong.

We do not pursue valuations precise to two decimal places. Instead, we seek a deep understanding of the essence of business. Framing a roughly correct range with reasonable assumptions is far more valuable than producing a seemingly precise number with a fragile foundation built on complex models.

Content Focus

  • Company Valuation: DCF-based company analysis, breaking down core variables such as free cash flow, growth rate, and discount rate
  • Business Analysis: Understanding business models, competitive advantages, and industry landscapes
  • AI & Investing: Exploring how artificial intelligence can assist investment analysis and improve decision quality

Valuation Tool

We have developed an open-source DCF valuation tool — Valux DCF — to help investors quickly perform discounted cash flow analysis.

Contact