Related Labels [Stock Market] [Blue Chip]
Affected by the violent turmoil in the surrounding stock markets, it seems that the bull's head just raised in the mainland stock market will be lower again. Now many investors are very nervous and full of doubts: Can A shares maintain the upward momentum of the bull market? How long can the good days last? What kind of stocks should I invest in? Can the fund still be bought? In this regard, Yue Aimin, investment director of Xincheng Fund Management Co., Ltd. said that the fundamentals of A shares are still improving.
China's economy is like a "running elephant". If investors are full of confidence in its rise and expect the creativity of outstanding listed companies invested by funds, they should stick to the belief of long-term investment in order to share the economic growth under the prosperous China.
A-share long-term bullish is not a zero-sum game.
In a wide-ranging investment market classified by boxes, the sale of investment products is often regarded as a game of delivering packages, and the money earned by some people seems to come from the losses of others. So some people think that stock trading is just a zero-sum game similar to gambling.
In fact, the stock market is not a zero-sum game, because it is not a closed market, and peripheral funds will choose to join or withdraw according to their own expectations. In the long run, or from the perspective of investment, the rise and fall of the stock market must be based on the health of the real economy, and the stock price must be based on the ability of listed companies to continuously create profits.
Based on this judgment, Yue Aimin emphasized that the profitability and growth of the most fundamental listed companies in the stock market are still optimistic, and there is still the possibility and space for further upward adjustment of the profit forecasts for 2007 and 2008.
Yue Aimin pointed out that the dynamic P/E ratio of Shanghai and Shenzhen 300 Index in 2008 is currently around 26 times, which is between expensive and cheap-expensive because the expected P/E ratio of 26 times in 2008 is the year after last. Cheap means that if we consider the market situation in the second half of this year, the fourth quarter or even one year from the beginning of 2008, if we stand at the beginning of 2008 and if the market is still positive for the future performance growth of listed companies, we will try our best to accept the expected P/E ratio of about 26 times.
In view of the recent wide fluctuations in the A-share market, he suggested that investors should remain cautiously optimistic, because the fundamentals of A-shares are still good, and investors should ignore short-term fluctuations, pay attention to market fundamentals and corporate profit growth, pay attention to the selection of individual stocks, and pay attention to changes in some risk factors inside and around the system.
Long-term investment funds are bound to lose.
Historical statistics show that individuals who engage in high-risk investment will eventually abide by the 72 1 law-70% will lose money, 20% will be flat, and 10% will gain. With the help of securities investment funds, the probability of investors becoming 10% will be greatly improved. The data shows that if you invest in the US stock market during 1926- 1992, the probability of losing money and making money are 2% and 98% respectively, and the probability of making money during 15 is 100%. This means that as long as the real economy can finally flourish, listed companies can continue to create profits and participate in stock market investment, especially in the form of * * * mutual funds, which will eventually outweigh the benefits.
Therefore, Yue Aimin suggested that investors should take the long-term investment of stock funds and hybrid funds as the main strategy in the future under the premise of unchanged bull market foundation. The data shows that in the previous stage of adjustment, many funds have obviously resisted falling. Before the index hit a new high, the net value of some funds has exceeded the net value level of the highest point of the Shanghai Composite Index of 4,335 points. It can be seen that it is one of the best choices for ordinary investors to invest in high-quality funds for a long time and hand over their concerns about the market to fund managers. The second quarter reports of several funds show that the funds focus on real estate stocks and banking stocks, and these two sectors happen to be the strongest sectors in the near future, which shows that the funds are forward-looking in industry allocation.