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Small Scattered Must Cover The Hands Of Cattle Stock.

2011/7/22 14:29:00 34

Small Scattered To Cover The Hands Of Cattle Stock.

Four driving forces:

1, cheap

Bank shares

At present, the average price earnings ratio of A share listed banks is only about 8.4 times, much lower than that of A shares, which is 17.6 times the average p / E ratio.

"According to this profit growth, both PE and PB are very cheap and optimistic about the performance of bank shares," said Pu Yonghao, Asia Pacific head of the Swiss bank's wealth management research division.

Undervalued bank shares are the driving force of prices.

2, poor new

fund

The size of the new fund set up this year has shrunk by 37%.

Among them: 1) Monetary Fund and QDII fund shrank the most.

2) Guo Lian an currency A, Pu Yin Sheng Sheng currency A, Guo Lian an B B scale shrank by more than 90%; 3) long beacon Pu 100 and other weights, and Haidong's two China QDII scale also shrank by 88.26% and 86.11%;

3, underestimate the value of A shares: at present, the A share price earnings ratio is still about 15 times.

Moreover, the dynamic P / E ratio of all A shares is lower than the valuation level at the end of June last year, even close to the historical low of 08 in November; (undervalued A shares have the driving force of "primitive society").

4, robust

Gross domestic product

GDP grew by 9.6% in June.

Among them: 1) increased by 9.7% in the first quarter and 9.5% in the two quarter.

2) the total retail sales of consumer goods in the first half of this year amounted to 85833 billion yuan, up 16.8% over the same period last year.

3) the total value of China's imports and exports from 1 to June was 1 trillion and 703 billion 670 million US dollars, an increase of 25.8% over the same period last year.

Among them, exports in June amounted to 161 billion 980 million US dollars, an increase of 17.9%, exceeding the historical record of just 157 billion 160 million US dollars in May.

In the first half of the year, macroeconomic data, the international investment bank's "empty China" conspiracy, dispelled the market's concern about the "hard landing" of the economy.

(robust GDP constitutes persistent market driving force)

Four great imagination:

1) CPI inflection point inflationary inflection point; 2) PMI inflection point - currency inflection point; 3) policy inflection point - "fine-tuning"; 4) QE3 inflection point - Import inflection point;

After the inhibition of interest rate expectations, the suppression of the deposit reserve and the suppression of intensive IPO, the focus and value of A shares have fallen to a serious "axis of value". The big triangle has been running for 2 years, and the big triangle finishing time can not be described as not long enough. In the second half of the year, once all these factors of A share are lifted or released, then the second half of this year is the most promising time to break through the big triangle. The second half is also the best time to start the wave in the big three waves since 1664, because CPI began to fall back, and the monetary factors that suppress the market's more dynamic energy are bound to start loosening. In addition, through policy tightening and monetary tightening, the international board,

At present, a large number of undervalued stocks in A shares have climbed to a historical bottom. In view of the current A share price earnings ratio and market rate, the short-term operation can bring some "slight" differences. But with the undervalued stocks in the medium and long term, the income and growth potential are not equal, especially those of the small and medium board GEM stocks that are growing at a high speed. The differential pricing operation will be more harm than good, because the most efficient geometric profit growth mode in the A share market is the high delivery mode: repeated rights elimination and right filling.

Apart from the lack of performance and lack of growth potential, from a large historical cycle, from the perspective of the historical underestimation potential of A shares, we can see that speculators are not as good as collectors in terms of the opportunity to break through the big triangle.

This has seen "clues" from international institutional investors and external media to "empty China", "short China" and "covet China".

Speculators are not as good as collectors who stand at the height of history and stand at the great development space of A shares to see the value of A shares, so speculators get the price difference, while the collector may get N times of time profit and time multiplier.

Therefore, the 2800 point is not enough to be "full of sex".

Even from the point of view of collectors, speculators never surpass the collectors.

Although the stock market and the collectible market are different markets, time can prove that a lot of examples can prove that speculators are not as good as collectors.