An article was published over the weekend, "The big guy said that the main investment opportunities in 2024 should focus on these sectors, which is consistent with Dong Chengfei's optimism", mentioning the current valuation position of the A** field core index and the 31 industry indices of Shenwan Level 1 - it can be seen that the current price-earnings ratio of the Shanghai Composite Index is 1253 times, at the valuation percentile of 13 since the base period43%, with a price-to-book ratio of 121 times, at the valuation percentile of 0 since the base period13% is already super underestimated, but this does not affect the ** continue to fall sharply in the past few days.
Lao Hu, who entered the market at 3144 points, did not expect it to fall like this. The bottom of the market often breaks through your cognitive ......It is really important to invest with spare money and not to be leveraged.
For the record, the CSI Partial Stocks** Index (930950) has been annualized for three years so far, has stepped on the MA120 monthly line, thinking that at the beginning of 2021, the three-year annualized rate of partial stocks easily reached %, and now it has fallen to three basements.
Data**: Dongcai Choice data, as of January 8, 2024.
Data**: Dongcai Choice data, as of January 5, 2024.
At the beginning (the three-year annualized rate easily reached %), it should be a little cautious, but at the moment (three-year annualized rate is -13.).53%) Personally, I feel that there should be some optimism and patience.
Today, I chatted with an elder in the family for a while, and the ** she bought has lost 160,000,000 yuanThe mentality feels like it's broken, ready to admit and sell, I was persuaded ...... for a whileAt that time, I bought ** or I helped her choose, and now I really regret that I didn't configure some QDII ** for her at that time, and blame me for being optimistic at the time.
At present, this situation is really uncomfortable, and there are many people who have collapsed their mentality. In the flowers, Xiao Jiangxi wanted the little sister to take **, but the little sister categorically rejected - it's easy to make money, what to do if you lose money. And at present, I have fallen into a state of losing money with relatives to buy **, this kind of entanglement and discomfort is more sad than my own loss of money, I want to learn a lesson this time, and try to play silently by myself in the future, and do not recommend volatile partial stocks to relatives around me**.
I myself am currently in a full state, and in the past two years a little income is still smashing into it, last weekend a reader in the private equity industry communicated with me, she believes that the market is going to fall, the short-term trend I really can't say, I personally allocate A-share assets to see far, but recently I am also reflecting on myself, A-share ** is too heavy, QDII ** is not enough.
The advantage of investors who can understand the valuation compared with investing in Xiaobai is that they probably know whether the market is in a vague bottom area, so they increase the confidence of investment. I can bear it myself, after all, there have been no major expenses in recent years, and the income has increased more in the past two years, and there is a steady stream of cash flow in the future.
In order to avoid short-term uncertainty, I choose to sell assets temporarily and wait for the trend on the right side to chase it, which I personally can't do. Although it is uncomfortable to bear the volatility in the relative bottom area, I prefer to choose this more "simple" way.
Friends who are close to collapse, at the current valuation, my personal advice is to uninstall the software, not sell it.
As a reminder, CEIBS Wealth Investment Advisor's article "Guess the Rise and Fall |Thermometer Weekly: Trading Sentiment Diverges from Market Movements" notedAt present, the trading congestion of the dividend sector has been at a historical high level, and the cost performance of allocation will decline sharply
5. Recently, if you want to buy A-shares and want to allocate them more balanced, if you are in the market, I personally think that the A-share ETF (563330) is not bad, this ** tracking index is the CSI A share index (930903), which is relatively modest, not biased in style, do not worry about the surprise or fright given by the manager, you can game the subsequent recovery of the entire market**.
The same style of ** also popped up in the brain of three performance benchmarks against the CSI partial stock ** index (930950) of-lof**, see the following table for details, the ** managers involved are Lin Guohuai, Sang Lei, Liu Bing,The performance charts of these three ** and the CSI 300 Index are shown below
Data**: Dongcai Choice data, as of January 3, 2024, past performance is not indicative of future trends.
XingquanThe performance benchmark is the yield of the CSI Equity** Index+China Bond Composite (Full Price) Index Yield*15%;
Central EuropeThe performance benchmark is the yield of the CSI Equity** Index+Bank demand deposit interest rate (after tax)*20%;
Bank of CommunicationsThe performance benchmark is the yield of the CSI Equity** Index+The yield of the China Bond Composite Full Price Index * 10%, all of which are equity-biased.
The performance charts of these three ** and CSI A-share Index (930903) in the past 2 years are shown as follows:
Data**: Dongcai Choice data, as of January 3, 2024, past performance is not indicative of future trends.
The performance charts of these three ** and CSI partial stocks** index (930950) in the past 2 years are shown as follows:
Data**: Dongcai Choice data, as of January 3, 2024, past performance is not indicative of future trends.
I personally think that A-share ETF (563330) and Industrial Securities Global Active Allocation Three-year Closed Hybrid (FOF-LOF) A (501215) are good choices.
Data**: Daily**, as of September 30, 2023.
In terms of scaleIndustrial Securities Global actively allocates the largest three-year closed hybrid (FOF-LOF) A (501215), and the liquidity is relatively better.
Data**: Dongcai Choice data, as of September 30, 2023.
Another relatively bright spot is that the 2023 ** interim report shows that Lin Guohuai holds more than 1 million shares.
Data**: China Industrial Securities Global Actively Allocated Three-Year Closed Hybrid (FOF-LOF) A 2023** Interim Report.
My article is basically ** combing notes, the amount of information is still relatively large, thank you for your patience to read, all content is personal research, does not constitute investment advice, please pay more attention to objective data.
Risk Disclosure:The relevant views quoted are from relevant institutions or public channels, and I do not make any guarantee for the accuracy and completeness of the views, and investors operate accordingly at their own risk. The market is risky, regular investment is risky, and investment needs to be cautious. The above content is for reference only, the article involves **, does not constitute **recommendation and investment advice, **market volatility, please operate cautiously before purchasing. China's first operation time is short, and it cannot reflect all stages of development. The Manager does not guarantee the profit and minimum returns, and the other performance of the Manager does not constitute a guarantee of the performance of the Administrator. **Past performance and its net worth are not indicative of future performance, and the full results can be found on the product details page. **The product has the risk of income fluctuation, investors should agree with the principle of "buyer's responsibility" when making ** investment decisions, and after making ** investment decisions, the investment risks and losses caused by the changes in **operating conditions and **net value shall be borne by ** investors. Investors should carefully read the "** Contract", "Prospectus" and other ** legal documents to confirm that they know and understand the product features and related risks, and have the corresponding risk tolerance. The market is risky and investors should be cautious.