End Of The A Share Investment End: Private Profit Growth Faction Hard Shoulder

　　 Private "making money" magnifying leave

Last Monday, the growth enterprise board "cliff style" fell, and the net loss of the public fund of individual growth stocks was even more than 8%. The nearly terrorist adjustment has left many investors unprepared, but there are lucky winners ahead of schedule. Clearance Live a free life.

A private person in Shenzhen gave himself a long vacation in advance, and began to approach the journey of God. In December 1st, the private person released a message in the WeChat circle and was accompanied by a landscape photo in the Middle East. The previous day, the SFC officially announced the IPO restart schedule.

For the above private placement, it is now an opportunity to catch breath in recent years. In the worst case of 2012, the net product value of the private placement management was close to 0.6 yuan. However, relying on the investment of a few stocks, the above private placement has achieved counterattack this year, and its management products have been earning more than 50% since 2013. In his words, "this year is a good year." From the recent changes in the net value of its products, the position has been quite low.

Southern China private Michael has also made considerable gains in investing in growth stocks this year, but his absence from Shenzhen is not lucky. "Last Monday's slump announced that the gem was" finished "and there was no big opportunity for blue chips. At the end of the year, the funds are tight and the stock market's money is not easy to earn. Michael cleared the stock market in a small rally in the three market last Tuesday and is preparing to enjoy Christmas holidays in North America.

The starting point of Michael is that it is difficult to fight at the end of the year. The current market is not easy for retail investors and institutional investors. Last Thursday, a reporter interviewed with a public fund manager accidentally discovered that his mobile phone page was all "green" from the stock selection page. On Wednesday, a large investor bought shares of 4G concept. He was pleased to see the stock price skyrocketed, and the next day he was gloomy: the stocks he bought the day before had fallen below the cost price. "Now the money making effect of the market is gone." The large family shook his head and sighed.

　　 Growth faction "hard shoulder" limit

Some people are happy and sad. Compared with the "contentment faction" that was enlarged in a timely manner, the growth school was trapped in the liquidity trap of the small board of the gem, and the year-end war turned into a "struggle for the trapped animals". The problem they need to consider is not how to buy stocks, but how to sell them.

Private Huang Lao said, in fact, everyone is still fighting.

A highly selective public fund investment director told the China Securities Journal reporter that the growth enterprise market has ended, and blue chips are hard to make money. But the strong cyclical industry deserves attention at the end of 2013, especially steel, cement and other long abandoned varieties. "Recently I have been trying to reduce the position, but I can't sell it at all. If I move a little bit bigger, the plate will collapse." Previously, Lao Huang had hoped that the stock market would be pulled up by the enthusiasm of the Third Plenary Session of the market, so as to achieve the purpose of shipment. But contrary to expectations, after the IPO restart news impact, last week, its heavily loaded gem share price fell nearly 20%. To make it more chilling, the volume of trading has shrunk and the willingness to receive funds has been extremely low.

At the end of the year, public fund managers are faced with severe pressure of performance appraisal. The fund managers need to keep their net income and win more bonuses. The fund managers who are below the average income level of the industry have to go all out to avoid bonuses or even lose their jobs. As a result, many public fund managers held high growth stocks at the end of the year, and suffered serious losses in last week's crash. "Some of my colleagues fell by more than 5% on net value last Monday, and small bills could not run at all." A fund manager who withdrew early from the GEM board said: " Gem It will definitely continue to adjust, and I don't know when it will be transferred. "

The current investment situation of the two major fund camps is likely to end in the end of the year. On the one hand, the early escape funds choose to stay away from the market "magnifying leave", unwilling to return to the bottom at the end of the year. Plus the end of the year capital interest rate increase is a big probability event, affected by factors such as bank storage, institutional capital withdrawal and other factors, the year-end stock market decline sharply, it is difficult to support the rising market. On the other hand, there is a strong liquidity demand for growth funds trapped in the liquidity trap. These factors will form a larger sell-off at the end of the year.

　 "Abandoned children" or become new favorites

In the background of tight funds at the end of the year, the A share market is pessimistic. But if we can choose the few structural opportunities, fund managers can still achieve "year-end" overtaking in the year-end position when their performance improves and others' net value goes down. Although blue chip stocks were stronger than growth stocks last week, some institutional investors privately believed that the stocks that were expected to be counter attacked by the end of the year were not those stocks that were highly watched by the market.

A highly selective public fund investment director told reporters that the GEM market has ended and blue chips are hard to make money. But the strong cyclical industry deserves attention at the end of 2013, especially steel, cement and other long abandoned varieties. Last week, the market showed that many steel stocks and cement stocks rose continuously in the adjustment market. A fund manager who specializes in digging up growth stocks has recently gone to investigate cement industry listed companies. He said that the cement industry boom continued to rise, individual varieties expected profit is good, this highly flexible stock can be used as counter chips at the end of the year.

In addition to strong cyclical stocks, the fund's counterattack varieties are currently owned by brokerage firms. along with IPO The restart time is determined, and the end of the brokerage's winter is drawing to a close. "Everyone is talking about securities companies, and they will consider matching some of them." A fund manager in Shenzhen says the general idea of fund managers in circles.

Although the escaping behavior is widespread at the end of this year, investors need not be too pessimistic. In fact, this year, a large number of stocks have gained a sizeable increase. At the end of the year, a lot of senior investment personages took the mentality of "making enough money this year" to relax themselves for a while. But they are not looking at the market completely. On the contrary, some restructured investors believe that there will be better opportunities next year, and now they are leaving to welcome the market next year.

Jiang Guoyun, chairman of the times Bo Le, said that the stock market of A could not be rigidly rigged for several days. The A-share market has already welcomed the real growth stock investment era. He believes that the gem will not bear the bear. After a short adjustment, it will open the long term slow bull market. The outstanding enterprises represented by brand consumer goods, medical health, excellent Internet companies, media culture, energy conservation and environmental protection will have a golden ten years' growth period.