** is art, staring is life.
2023 opens high and falls, and the financial dog loses its soul even more depressed.
It can't go up and can't go up, and it doesn't fall yet;Roll and roll and roll can't win, but lie down and lie flat.
I reflected on whether I had worked hard over the years, but I found that it was already good to play the role of "myself".
This year, the app I consumed the most was Alipay again.
This year, the word that WeChat posted the most was "".
This year, QQ** told me that the most listened to was "You Wait for Me at the End".
I smiled, this is a song, and it is clearly lonely.
If the investment in 2023 is summed up in songs, the first song must be "AI when you die".
After all, as soon as the year began, artificial intelligence pressed the accelerator button.
Although the domestic large model chooses to pay tribute between intellectual disability and intelligence, the hard logic of reducing costs and increasing efficiency does make game companies the most rare reflection of AI in A-shares.
Whether you are an old man or an electric three-wheeler, in the analyst's target price, it is the most popular motorcycle.
**The manager was forced to be empty, the channel manager was in a hurry, my eyes were worried, and the backstage asked vigorously, "Brother, the media rush or not?"”
In the end, whether to wait for a breakthrough or an adjustment, you choose to wait for the return on investmentIn terms of whether to rise or fall, the media chose big fluctuations.
The media can fall by 82% in 7 years, and it can rise by 86% in 8 months, and it can also take six months to fall back, "giving you another chance to read the file".
Anyway, most of them are game companies, just for fun.
This makes it very painful for those who get on the bus and those who don't.
Of course, this year's pain also stems from countless "miscalculations" at the beginning of the year.
misjudged the recognition of foreign capital, thinking that it would only enter and not get out of the bottom A shares;
Misjudged the strength of the index, superstitious partial stocks will not double kill, CSI 300 will not triple kill, Hang Seng Index will not quadra kill, in the end the market will always make you have to serve;
The accuracy of the fundamental analysis was misjudged, and the calculated growth rate and the margin of safety left behind turned out to be so unsightly;
The speed of economic recovery was misjudged, and the difficult transition from "singing recovery" to "strong expectations and weak reality" to "no expectations" was miscalculated.
The dumbbell-type strategy that was hard to find, whether it is left-handed technology or right-handed medium special valuation, no one made it to the fourth quarter.
The ** manager, who has not had time to build an "anti-fragile" portfolio, began to struggle with the return of the dividend strategy under the style rotation.
In addition to AI-enabled quantification and micro-cap stocks, there are only a handful of micro-cap stocks that can adapt to this market this year.
Although it was tortured by 3,000 points for another year, the Shanghai Composite Index still showed strong resistance to decline, and of course it also resisted the rise.
Among the mainstream products, the STAR 100 has become the most successful index, but only the smaller and more modest CSI 2000 has positive returns, as for the CSI 300 and ChiNext where the heavyweights are concentrated.
Forget it, ask for more blessings.
In the past, we thought that investment and even asset allocation were simple.
Pick a ** manager and give the money to them. ”
But this year, the ** manager said, "I'm sorry, I really can't grab the pricing power, and it's hard to keep up with the index." ”
So for 2023, the second song should be "It's Not That Simple".
The difficulty of A-shares lies in the misjudgment of the size and size of the market capitalization style, the difficulty in the disturbance of the theme of having concepts and no performance, and the difficulty in the strategy that is popular this year will be finished next year.
Come to think of it, it seems that only "broad asset allocation" is a free dinner.
I thought that "asset allocation" was the right nonsense, but in the end I was young and ignorant and unfamiliar with the means of asset allocation.
At that time, the price investment said that ** did not create cash flow, who would have thought that the gold price would rise to a record high this year?
Last year's ** most beautiful boy, who caught up with the top after realizing it?
I used to think that young people have a long duration and can not buy bonds, but this year I finally realized that "buying stocks and bonds in a balanced manner, and not hanging on the account" is the great wisdom of investment.
In the 20-year real estate bull market, I am accustomed to "buying a house is the best investment", and this year I finally realized the true connotation of "housing is not speculation".
In the past two years, I finally accepted the traditional narrative of equity investment to fight inflation, and who realized that when cash flow problems may occur, fixed deposit is the best investment for wage earners?
The old will be broken, and only the fittest will survive.
In 2023, another place that breaks the tradition is that cross-border investment is somewhat out of the circle, and the QDII quota of each ** company is very tight.
Capital is profit-seeking, of course, it is also "weak", since we can't beat it, then let's join!
This year's obsession with QDII, it seems that only the lyrics of "Big Sleep" are the most touching-
"Thank you to Big A for taking me for a fool and coaxing me to be fooled once a day. Sober for a lifetime, that's it. I don't mind using the good to get drunk and dream of death. I forgot that I could buy the S&P 500, and my wasted youth may be able to come back to life. ”
Learning northbound, questioning northbound, understanding northbound, and becoming northbound, there seem to be only two options left in front of A-share people-
Buy QDII and become foreign capital in the United States, Japan, and India;Buy the Beijing Stock Exchange and become the northbound of domestic capital.
In these years, everything has to talk about a global vision.
* Try to cross the river in the United States, and on the other side, you have to copy Japanese homework.
Before 2023, I didn't know who Gu Chaoming was, and after 2023, everyone will have a copy of "The Great Recession Era".
You ask me what I think, and what judgment do I have.
It's nothing more than squeezing people to go to Zibo to eat barbecue on May Day, Li Jiaqi's PUA salary did not rise in September, Citywalk watched Tianjin Uncle diving in October, and spent 42 in November to give Haohao a home.
I really don't know if Japan is not Japan, but more and more people do care about the cost performance of consumption.
2023 is also a year of farewell.
Munger passed away peacefully at the end of November, and the entire secondary circle is mourning.
The first person to mourn is Munger, which is clearly the era of value investment that is far away.
If we could do it all over again, we would definitely cherish it.
It's a pity that there is no if".
For residents' financial management, we are officially bidding farewell to the "beautiful but not real" "just exchange" in the "thunder" in 2023.
Speculation is not necessarily a steady profit, financial management is really not equal to the guarantee of principal and interest, and every penny of the trust commitment is higher than the risk-free rate of return, in fact, there are corresponding risks behind it.
In contrast, ** is already the most standard investment product that ordinary people can access.
Whether it is chasing outstanding investors in previous years or fully embracing the index this year, everyone has made changes according to their own perception of the world.
History has passed, the future has not come, perhaps only the present can we grasp.
2023 is not easy, but the so-called every year is sad.
At least, we are still alive, we have not been laid off for the time being, and there are no major problems with our health.
Since the people are still there, there is still a chance.
Maybe when we look back in 2024, maybe everything is in the past.
2023, never again;2024, please be kind to me.