Today, A-shares are all over the board**.
It is said that the main reason is that last night's management released a positive release, and this year's Chinese New Year's Eve ** closed for one day, and the market sentiment has been greatly boosted.
In order to let everyone have a good year, the above also took a lot of thought Last week, I said that Professor Liu Jipeng's Douyin account was banned from following, and soon after Mr. Liu issued a statement in the circle of friends: ".
As of December 7, 2023, I no longer serve as the dean of the Capital Finance Research Institute of China University of Political Science and Law. In view of the fact that my friends have recently invited me to participate in many social events, I still use this position. Therefore, I will make a special explanation to inform all friends.
I don't know what to say about it.
Let's share three paragraphs of what Mr. Liu said, although his account and position are gone, I hope his voice can be heard by more people.
about who is the God of A-shares".
The question of who is the God of China's ** has not been clearly discussed in our ZJH system, and I argued with the CEO of CICC about this issue at the ZJH meeting, and it was Comrade Xiao Gang (then chairman of ZJH) at that time.
He (the CEO of CICC) said that the listed company is his God, and I said Chairman Xiao, listen to it, these intermediaries of ours think that the listed company is their God.
But who's paying for it?Investors are paying money, and the whole thing is upside down.
About delisting
We don't have adequate regulation, especially the delisting system. 4,000 companies have developed to this day, and there were only more than 100 delistings in our history, with a delisting rate of a few tenths of a percent. In the future, if the registration system is like this low-threshold entry market, and the supervision can no longer keep up, then the market will not be healthy.
After the implementation of the registration system, ZJH is not having nothing to do, but really wants to return to the main business of supervision, and must include the exchange in the scope of supervision. The exchange is by no means the arm and hand of ZJH, it continues to supervise and review, nor is it an outpost of ZJH, it is the object of supervision by the CSRC.
About the listing and **".
Our **16 years 52 times hovered around 3,000 points, so most people can't produce a wealth effect here, so this market has become the highest amount of financing and the highest number of listed companies over the years. The number of listings is now more than 5,300, and the speed of our listings is getting faster and faster, the first 1,000 households took 11 years, and the fifth 1,000 companies were achieved in 2 years.
What's the crux?Therefore, this market is a market in which we have been unfairly distributed and lack justice since the reform and opening up. Why do I say that?It is because in our market that these major shareholders do not put their energy on listed companies to achieve a win-win situation for the wealth of listed companies, with small and medium-sized shareholders, but put their energy on the major shareholders of listed companies.
Since our country's current strategic goal is to run towards common prosperity, the number of more than 200 million shareholders and 600 million basic people here is large enough. If we do a good job of common prosperity in this field, I think the common prosperity of the whole country will not be difficult to solve.
Thank you, Mr. Liu, for speaking up for us.
In addition to criticism, in this extremely undervalued position at the moment, I don't think we should blindly be bearish. Objectively speaking, the quality of A-shares has been stable in the past 30 years, and there have always been many problems, whether it is a bull market or a bear market.
It's just that when it's good, everyone selectively ignores it, and when it's bad, it's angry.
So the texture hasn't changed much, what has changed?
What has changed is ** and valuation.
In the past 30 years, the ** and valuation changes of A-shares have been drastic and important, and it largely determines whether we are likely to make a profit or a loss.
An ordinary hairy crab usually sells for 20 yuan, although it cannot be compared with the Yangcheng Lake hairy crab full of cream, but when it is discounted to 10 yuan or even 5 yuan, should we think about whether there is a chance to pick up a cheap one at this time?
To make an investment, you must understand the cycle, grasp the rhythm, and have independent thinking and reverse thinking