It happens to be the weekend, and we have a rare two days of warm winter sunshine.

Yesterday I participated in the training of Ge 16. I originally planned to complete a 21-kilometer half-marathon. Unexpectedly, I finally realized the challenge to myself. With the encouragement of the coach and team members, I completed 32 kilometers. This is also the longest I have completed since I started running.

long distance.

In the last 5 kilometers of the journey, my steps were as heavy as lead. I relied entirely on perseverance and believed that I could reach it eventually. When I finally reached the finish line and crossed the line, I felt extremely relaxed and relieved.

Running is like our own life journey. We break down the goals step by step and achieve small goals one by one. Just run. When we look back again, we are inexplicably excited.

In life, when faced with something that makes you feel scared or timid, really, my method is not to think so much, worry about this or that, as long as the direction is right, just do it.

At this moment, I sit in front of the desk with my sore body and start typing. I think back to my emotions during yesterday's run, and then think back to every bit of the past 2020. It is thrilling and seems to be still vivid in my mind.

Looking back on the past, I wonder if the flags everyone set at the beginning of the year have been realized one by one?

Looking back on 2020, most of the goals I set have been achieved and exceeded expectations. There are also a small number of goals that I regret that have not been completed, but I am still very satisfied with the performance in 2020.

What I am even more happy about is helping friends around me to provide comprehensive asset allocation and investment consulting. Whether it is fixed income, public funds, or private funds, it has brought good returns to everyone and provided everyone with ways to maintain and increase the value of assets.

Help.

In 2020, the word we say most is: "See you soon", and we are witnessing history every day!

As for the capital market in 2020, especially the stock market, if I had to use a few words to describe it, I think it would be: a magical beginning and a dreamy ending.

Let’s look at the U.S. stock market first.

In the past year of 2020, amid the COVID-19 epidemic that swept the world, we saw a meltdown in the U.S. stock market that even Warren Buffett had not seen many times.

Then, stimulated by the subsequent trillions of dollars, the Nasdaq and S&P 500 hit record highs one after another!

At the end of 2020, the Dow Jones Industrial Average rose 7.25%, the S&P 500 Index rose 16.26%, and the Nasdaq Index rose 43.64%. The Nasdaq Index recorded its largest annual increase since 2009.

The bear market in 2020 turned out to be the shortest bear market in history!

Let’s look at the A-shares we are familiar with.

February 3, 2020: On the first trading day, 1,000 stocks fell to the limit, and the entire market plummeted 8%. Only 172 stocks rose in the two cities, and more than 3,000 stocks all showed a sharp decline.

Fear hangs in everyone's mind at this time, and as the epidemic continues to ferment, the emotions of people who are isolated at home have magnified exponentially in the market, leading to successive plummets.

In a blink of an eye, the time has arrived on December 31, 2020, the last trading day.

What kind of performance is it?

At the close, the Shanghai Composite Index closed at 3473.07 points, an increase of 1.72%; the Shenzhen Composite Component Index closed at 14470.68 points, an increase of 1.89%; the GEM Index closed at 2966.26 points, an increase of 2.77%.

All ended in red!

From the first trading day to the last trading day in 2020, what stages have we passed?

I divided the trend throughout the year into four stages: Stage 1: Panic decline. At the beginning of 2020, first, under the influence of the epidemic, the global market plummeted.

The second stage: rebound and rise. After the panic decline in March, countries began to release massive easing policies and started printing money.

The liquidity crisis eased, and the extra funds began to flow into various assets, driving a major rebound in the global stock market from March to July.

A shares also rose rapidly from more than 2,000 points to 3,400 points in July.

The third stage: sideways shock. After July, for about half a year, with the repeated progress of vaccine research and development, A shares fluctuated between 3200-3400 points, with no major rise or fall.

The fourth stage: slight rise. In December, there will be a certain degree of rise.

A red ending.

Throughout the year, the Shanghai Stock Exchange has risen cumulatively: 14%!

The cumulative rise of the Shenzhen Index: 38%!

The GEM Index soared 65%!

Soul torture from Buddha: Have you made a profit in A-shares this year?

If you made a profit this year, did your investment income outperform the GEM?

!

You must know that you do nothing, just invest in GEM index funds, and you can get 65% of the income. Thinking about the suffering of many people in the capital market, it seems to be a huge irony.