The Gem Is Limitless In The Perilous Peak.

< p > since the beginning of 2014, mobile Internet applications have been active. We think: < a href= "http://www.91se91.com/news/index_s.asp" > growth stocks < /a > is still the main force in the first half of this year, focusing on three main directions: electric smart cars represented by Tesla, intelligent production based on 3D printing and robots, and intelligent application of mobile Internet applications.

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< p > < strong > 1, new technology market since the beginning of the year < /strong > /p >

Since the beginning of P, although the performance of the market is not outstanding, the concept plate representing the new technology direction has been outstanding.

The gem index also surpassed the high of last October, and hit a new high.

We maintain the judgement of the rhythm of growth stocks, and growth stocks have ushered in a new round after a short break.

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< p > growth stock market is not limited to gem, but also is spreading to small and medium-sized board.

There are also fetal movements in the motherboard involving new technologies.

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From the perspective of science and technology, human society is welcoming a new revolution in science and technology. As we pointed out in the ten major advice in 2014, the three directions of science and technology are changing the world.

We must pay attention to these three directions: (1) electric smart cars represented by Tesla; (2) production intellectualization represented by 3D printing and robots; (3) the intelligent revolution of life based on mobile Internet and wearable devices.

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< p > < strong > 2, unlimited scenery in danger peak < /strong > /p >

< p >, is there any bubble in growth stocks? There must be some, but the market trend is at the beginning of the manufacturing bubble, not the bubble burst period.

Compared with the Internet bubble of NASDAQ in 2000, the mobile Internet bubble in 2014 has just begun.

Well, since the future is a bubble, do we want to catch up? < /p >

< p > everybody has more or less climbing experience. We all look forward to the infinite scenery on the mountain peak. We all know that we will have to come down later.

When we crawled up halfway up the hill, we must have felt very tired, already very high, but the platform of the cable car is here.

To keep up, it is up to the mountaineers' courage and hardship to stop having comfortable cable cars.

At present, the growth stocks are on the halfway up platform, and there is a high mountain up there. If we stop here, we will not experience the infinite scenery of the peak.

Real climbers are only now beginning.

Just like the current A shares, the real pursuit of growth bubble has just begun.

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What is the scenery on the top of P? It's not the pain that comes down, but the persistence of true growth.

Even in the 2000 Internet bubble, excellent Internet application companies came out quickly in the adjustment of bubble burst, such as Amazon and Google.

We also believe that when the bubble of the mobile Internet burst at some point in the future, soy sauce companies will no longer have today's scenery, but truly excellent mobile Internet application companies will stand out in the tide.

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< p > unlimited scenery in dangerous peak.

At present, the trend of mobile Internet is more important than valuation.

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< p > 3, compared with the 2000 NASDAQ bubble < /p >

< p > obviously, < a href= "http://www.91se91.com/news/index_cj.asp" > gem < /a > index rose from 585.44 points in the early December 2012 to the latest 1561.77 points. The continuous increase in one continuous line has already created history.

However, this point is less than that of 1200 in 2010.

If the 585.44 point is the valley, the 1200-1500 point is at best half a hill, which is the platform of the cable car, not the top of the mountain.

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< p > Why do we think that there will be opportunities for growth enterprise in the future? Let's compare the Internet bubble in 2000.

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< p > (1) from the relative growth rate of the gem leading the market, it seems that the bubble of the growth enterprise market is comparable to that of the 2000 Internet bubble.

But we compare the background of the two: in 2000, the US's economic environment was very good, and the blue chips did not go down like this A share market.

The relative increase is not reliable.

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< p > (2) from the growth of the gem itself, it is not unreasonable.

Compared with the Nasdaq, from around 400 of 1990, it rose all the way to 1800 near 1998. After a slight pause, it rose to 5132 in March 2000 (then dropped to 1108, and returned to 2000 in 2007, up to 4200 now).

In this way, there is a bubble in the growth enterprise market, but it has not yet reached the peak of the bubble.

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< p > (3) from the perspective of technology environment, 2000 is the Internet bubble, and now it should be the mobile Internet bubble.

There are indications that the penetration of mobile Internet continues and the mobile Internet bubble is still expanding.

In 2000, the Internet is a single soldier operation. Nowadays, apart from mobile Internet, new technologies are emerging one after another.

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< p > from the trend of science and technology, the new era is opening.

We believe that there are three major technological directions to lead the economic trend in the next 20 years: (1) electric smart cars represented by Tesla; (2) production intellectualization represented by 3D printing and robots; (3) intelligent life represented by < a href= "http://www.91se91.com" > wear < /a >.

There is no doubt that the mobile Internet and the Internet of things will infiltrate into the above three fields, and human life will open up a new chapter.

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< p > Where is the peak of mobile Internet bubble? When the penetration of mobile Internet in the above three technologies is more than 50%, the bubble is in danger.

But this incident has not yet arrived.

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< p > is still the phrase: the mobile Internet bubble is not big enough, the bubble of the growth enterprise market has not reached its peak, and further look at the three major scientific and technological directions.

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