You should be talking about stock funds. Recently, the index has been falling, but stock funds are specialized in allocating stocks, so when the index falls, the net value of the fund is also falling. Once the index rises, the net value of equity funds will naturally rise.

personal judgement

If not before the end of the year

Policy factors

The index will not hit a new high.

One reason

The money-making effect disappears.

Because the strength of heavyweights masked the decline of most stocks, the popularity in the venue could not be condensed.

In other words, most stocks have fallen sharply, and investors who have not been out in time are trapped.

In this case, it is unlikely for retail investors to convert their positions into big blue chips at this time.

Reason two

: The overall market valuation is high.

The report for the third quarter has basically come out, and the overall profitability of listed companies is not as good as expected.

Moreover, careful investors can find that many performance growth rates are hundreds or thousands of percent.

The net profit of city companies after deducting non-profit is very low, and the main profit is the listed companies with cross-shareholding growth.

Not a few. No matter how good the stock price of listed companies is, there must be a foundation, and beyond this foundation, it will be produced.

Foam.

Reason 3: Why does the fund net value outperform the index?

I have to observe every detail carefully every day to find the answer. I found that the net value of the fund during this period is

The average decline is less than the decline of the index. 1October 25th, 10, the Shanghai Composite Index fell by 4.8%, and the market performance on that day was average.

Falling, in such a market, the average net value of the fund can still outperform the index. There is only one answer. they are

If you don't lighten up all the time, it's impossible to beat the index. )

As can be seen from the public data, the overall fund has reduced its position by more than 654.38+0 billion near 6000 points, but I

What we can know is that in fact, the amount of fund lightening around 6000 points is much greater than 1000 billion.

Reason 4: Some funds have heavy stocks.

The first high-priced stock in Shanghai and Shenzhen stock markets

China ships (600 150) should pay attention to the phenomenon of high volume.

According to the public statistics on September 20th, China Ship (600 150) restricted institutional shareholding.

The total proportion of shares sold accounts for 82.74% of listed companies, which means that the concentration of chips is quite high.

For 20 trading days from September 24th to June 26th, 10, the total turnover was 18%, and the adjusted market was ahead of the Shanghai Composite Index.

After 3 trading days, it can be judged that the institution has obvious

The act of lightening positions.

Similar stocks and

Admiralty Gold (600489), Guangzhou Shipyard International (600685),

Lu 'an Huaneng (60 1699), Conch (600585), Commodity City (6004 15) and so on. .

Careful observation of their similarities: they all belong to the fund's heavyweight stocks, and the adjustment began earlier than the Shanghai Composite Index.

Investment suggestion: the market as a whole is weakening, so try not to participate. There is one opportunity to launch stock index futures.

Very reasonable point of view, that is to say,

Not high not low

Partial launch, personal judgment will be in the Shanghai Composite Index.

4600 plus or minus 200 is more appropriate, and the media reports are ready. Personally, I don't think it means right away

Launch, I judge it will be launched next year1-February. If calculated according to 4600 points, the Shanghai Composite Index will be

In three months, there is still room for decline of about 20%.