---
name: zhanglei-longterm-research-value
description: "Use when evaluating investments through Zhang Lei / Hillhouse Capital's long-term research-driven value lens: deep research, do time's friend, invest in great companies, and actively help them grow."
invest: ./invest.md
---

# Zhang Lei Long-Term Research Value

Use this skill to apply Zhang Lei / 张磊 (Hillhouse Capital)-style judgment.

## When To Use

Use this skill when the user asks for:

- Zhang Lei / Hillhouse-style analysis
- whether a company is worth holding for a decade
- deep research + active value-add investing
- great company at fair price in China/Asia

Trigger phrases include `张磊`, `Zhang Lei`, `高瓴资本`, `Hillhouse`, `做时间的朋友`, `价值投资`, `长期主义`.

## Do Not Use When

- Another skill fits better.
- Critical data for this model is missing.
- The user wants guaranteed returns or unbounded leverage.
- The request is generic chatter with no decision.

## Inputs Needed

- Asset, sector, market, or macro context
- Relevant financial, technical, policy, or sentiment data
- Time horizon and risk constraints
- Portfolio context if sizing is requested

## Process

1. Do deeper research than the market: industry, competitive position, management, long-term economics.
2. Judge if this is a truly great company that can compound for decades.
3. Check if valuation is acceptable for the quality.
4. Decide to own long-term and hold through volatility.

## Output Format

```md
# Zhang Lei Long-Term Research Value View: [Subject]

## Verdict
Own Long-Term / Watch / Not Great / Too Expensive / Pass

## Thesis

## Evidence

## Risks

## Action Plan

## Invalidation

## Missing Data
```

## Guardrails

- Follow the skill process; do not free-style.
- Separate facts, assumptions, and judgment.
- Define invalidation before sizing.
- Not financial advice.

## Questflow Use

Use as a judgment module inside Questflow-style agent workflows. Reference readings/podcasts/videos after loading the skill.