Yang Delong: Investment in Chinese characteristics to defeat the market from the medium and long term

Yang Delong | Cube, everyone talks about column authors

On Wednesday, July 6th, the Shanghai and Shenzhen cities have shown a fluctuation trend. Recently, the A -share market has begun to fluctuate after a significant rise. Such adjustments are still technical adjustments. Since the primer bottom -up in the market on the 27th, the negative factors affecting the market are gradually eliminated, especially after controlling the epidemic in various places, the epidemic control measures have been adjusted, and the itinerary code cancels the addition. effect. As the 33 stimulating economic policies issued by the State Council gradually landed, the economic face ushered in better opportunities. From the recently announced economic data and PMI in June, both the manufacturing and consumer service industry appeared. Obviously, the A -share market has gradually established a trend of upward.

The first wave of A shares is mainly driven by new energy. Relying on the relay rebound of the consumer sector is expected to usher in the second wave of rise. Recently, not only the liquor, tourism, and tax -free industries have rebounded sharply. The sectors have also risen sharply. Previously, due to the impact of collective mining, many pharmaceutical stocks had a large decline in profitability, and the stock price fell hugely, but there were no industries that just rose or not, and there were no industries that had fallen without rising. After the significant decline in pharmaceutical stocks Some pharmaceutical faucets have a chance to rebound in both Chinese medicine and innovative medicines recently. Investors who have suffered a large loss due to heavy positions or pharmaceutical funds in the early stage do not have to worry too much. The influence of many pharmaceutical stocks is difficult to return to the peak moment, but it should be said that a large wave of rebound and valuation repair can be expected. Investors can hold it patiently, wait for the solution to consider adjusting the adjustment before the adjustment is adjusted. In the warehouse, the aging of my country is getting more and more serious, and the demand for medicine is expected to rise in the future.

It is difficult to do value investment. When the market has fallen sharply, many investors have no confidence, so even when some people fell at 2,900 points on April 27, they were worried that they would fall to 2500 points. In fact, there are many similarities in the decline in each round of the market, including various factors that cause the market to intensify the market, which causes many investors to panic and sell. At this time, low points can be generated. In April, I insisted on telling you reverse investment. Reverse investment is an important way for value investment. It is also a way to insist on the master of investment masters. When the market is extremely pessimistic Fund is a better way to obtain excess returns and long -term investment returns. In the long run, good companies have greater investment value. We must choose to buy when the market is extremely pessimistic to get a better buying point At this time, it is also when we must insist on value investment, so if we lay out at the end of April, we have obtained a better profit performance now. There is no new thing under the sun. In fact, after many cycles in the A -share market, the bottom is often generated when the market is extremely pessimistic. When investors are extremely optimistic or even start to adopt financing and securities and margin, the market reaches one in one market. High Point.

A good company can consider the layout, and every time you seize the rising opportunity are also the main way to obtain excess returns. Everyone remembers that when I fell sharply in April, I said that I wanted to invest in reverse, and I used the "Mo Na Neng outside". The word means that when the market is extremely pessimistic, the layout is expected to get a good return, and a good company often has a new high in the long run, because the fluctuation of the stock price is caused by a short game between the buyers and sellers. In the long run, it is determined that a company's long stock price shows the fundamentals of the enterprise, that is, its long -term performance. For companies with good long -term performance, we don't have to worry too much about the fluctuation of short -term stock prices, but it depends on it even more depends on it. The long -term investment value of an enterprise can get a better buy price at this time.

In addition to doing value investment, I have always told everyone to make investment in value Chinese, that is, when the market appears in a bubble, it is necessary to make a profit. Essence Qianhai Open Source Fund has successfully achieved two escapes and three low layouts in the past eight years. In order to avoid risks to avoid risks at the beginning of April, Qianhai Kaizhou Qianqian Qianqian Qianlian Energy Fund has decisively increased its position at the end of April. Opportunity. From a practical point of view, investment in the value of Chinese characteristics is easier to obtain good investment returns, and it is also more suitable for the long -term trend performance in the A -share market. Compared with the trend of US stocks, the A -share market often fluctuates greatly, and and and also It is often ups and downs. At this time, it is appropriate to do some large band operations through position management, which may make investors' confidence stronger, so that the net worth fluctuates smaller. Don't pay too much attention to the short -term fluctuations in the market, but most people cannot do this. It is difficult to withstand the psychological fluctuations brought by the short -term net value retracement. Investment in Chinese characteristics is to moderate position management, thereby reducing the large volatility of the account The psychological shock comes is expected to defeat the market for a long time.

Responsible editor: Yang Zhiying | Audit: Li Zhen | Director: Wan Junwei

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