on the one hand, there are high-tech photovoltaics, new energy vehicles and chips, and on the other hand, there are a large number of bank stocks that have broken the net and have a good dividend yield? How do we choose as retail investors?

As a small retail investor, I chose a bank, and I chose a big state-owned bank that was abandoned by everyone, neither China Merchants Bank nor Bank of Ningbo or Ping An Bank.

banks are the mother of all trades. Real estate has been suppressed, but there will be new industries such as photovoltaic, new energy vehicles and chips to boost China's economy. Since it is a fast-growing industry, enterprises will inevitably increase leverage and expand, and they will inevitably need loans. Who will provide them? Stock market financing? All stock market financing is unrealistic. Which high-tech enterprise has less debt ratio? According to this logic, the logic that banks have no increment because of suppressing real estate will not be established. As long as China's national strength is constantly increasing, banks will not be an unprofitable industry. Some people may say that German banks have little income? In fact, this involves China's institutional problems. China's institutional advantages will definitely enhance China's national strength and continuously realize the redistribution of wealth.

photovoltaic, new energy and chips are well exposed and will certainly develop well in the future, but don't forget that these are capital-intensive industries, and it is impossible to have much effect or advance by leaps and bounds in a short time. Now, the improvement of profits comes not from their technological breakthrough, but from the improvement of the relationship between supply and demand, just adding a technology and giving such a high valuation.

knowing the above two points, do you want to choose the one with less downward risk or the one with greater upward risk?

my choice is to go down to smaller banks.