First of all, you should fundamentally understand that there is no value investment in the China stock market, only speculation-the best example. You can see that since the establishment of the China stock market, several stocks have paid more dividends than financing.

Secondly, under the condition that the above conclusion holds, we think that a stock market that does not seek dividends is only speculative, that is, the price difference is often said, just like playing pass the parcel.

next, you should be able to think that the only thing that can determine how far this flower can spread is the size of admission funds.

you can analyze the flow of funds by yourself.

1. The central bank injected liquidity into the market, and banks lent on a large scale, which made the capital in the whole market larger.

2. The bank interest rate is low, and the country's large-scale bond issuance has laid the groundwork for future inflation. Forward bonds have fallen one after another, and residents are forced to invest in order to protect their property from future inflation (I am one of them, and my recent gains are ok, but I must keep a clear head). In China, there are not many types that ordinary investors can invest in, and the future of the property market is uncertain. Because of its special trading mechanism, the futures market is risky (two-way leverage) and the participation of ordinary residents is small. Only the stock market can arouse the enthusiasm of these funds best.

3. under the current export environment, do you think those export enterprises will invest money to expand production after they get the loan? There must be a considerable amount of funds flowing into the stock market through various channels (there is no doubt that an enterprise with the ability to make false accounts will certainly be able to do this, and it is difficult to supervise it comprehensively).

Based on the above points, I think that under the circumstances that the property market is unclear, the export environment is further deteriorating, and the amount of bank loans is further increasing, the stock market can still go higher, and there must always be a place for funds (consumption? That's impossible. So I'm not worried about my current stock at all, not because my stock has more investment value, but because the funds are pushing up now.

In addition, the worst loss I made (more than the sum of all my other losses) was that I was eager to try, and I was stupid enough to firmly believe in the so-called value investment and long-term investment concept.