You Know Several Ways To Make A Shares.

Over the years, there are many ways to make A shares, but there are basically five ways to form long-term profit models:

This is one of the most common routines.

Most investors adopt this model.

At the theoretical level, there are many literature support, and there are many classic cases at the practical level.

There are three points to note: first, A shares are a normally overvalued market, and a new thing will rise when the business mode is not clear. Until the value is reflected, the valuation has been high, investors need to constantly weigh and uncomfortably in the valuation and prosperity. Secondly, guard against the trap of value, and many varieties will be gradually fulfilled to maintain the growth rate before, but the valuation will continue to decline. For example, China Merchants Bank, GREE electric, and Hai Kang, at this time, the fundamentals are not necessarily profitable. Thirdly, value investing is a very luxurious thing, and money needs great tolerance.

Its success depends on its high quality business model.

Stable, low cost and non callable.

In fact, people who are familiar with this kind of routine do not have to be a primary market or a one and a half market, because the essence of their earning comes from the understanding of the value of the company. The fluctuation of the two level stock price is sometimes the noise.

The premise of this method is the violent fluctuation at the macro level. This is dragon killing and is not suitable for rabbits.

Fortunately, a hundred year old financial crisis actually happens every ten years.

It will not open for three years, but will last for three years.

This method focuses on BETA, which is a cross market, cross domain, and multi dimensional trading. A shares are just one of the battlefields.

In fact, people who are familiar with this kind of routine do not have to make macro hedge. If you can judge the price fluctuation of non-ferrous metals, why waste time on colored stocks?

There are three levels of industry rotation: one is the change in the industrial level, and the emergence of a leading industry will inevitably change the entire industrial structure, and it will always be in the industry.

A bull market has been launched. That is why A shares have been a bull market every 5-6 years in the past 26 years, such as appliances in the 96/97, desktop Internet in 99/00, real estate urbanization in 05/07 and mobile Internet in the current round.

The emergence of the leading industry will inevitably make its valuation separate from the original structure, for example, the rise of computer sector in the past year, the sky is the limit.

In addition, the market will first stir up mainstream varieties, followed by mergers and acquisitions and cross-border.

The second is the industry rotation that is brought about by macro change, that is, investment clock, which was most vividly shown from 2005 to 2010. At that time, the actual GDP growth rate could be from 6.1% to 11.9%, CPI from 8.7% to -4.5%.

After 2012, the macro variables fluctuated little. The change of industry rotation and large class assets was no longer the logic of investment clocks.

The detailed application of the investment clock in the industry rotation is described in detail in the author's "driving force and credit verification system" from 2009 to 2011.

The third is the opportunity of industry rotation, which is caused by capital rotation and inflation.

Any round of big rebound will eventually turn all the major industries.

Fundamentals are only an excuse for deep digging. It is a more effective way to rise first and then rise.

Shen Wan's first generation industry comparison system based on relative valuation is very useful.

From the above three industries, the first is the industrial level, the second is the macro level, and the third is the strategic level.

Thematic investment is a feature of A share investment. For the detailed discussion of topic investment, see the previous article "five elements of theme investment".

There was a piece of paper before saying a small target. This year, it used 100 thousand rollover to buy Zhong Yi Da, Shen Bao, famous family exchange, Langfang development and so on, until now it is 1 hundred million.

Everyone laughed, but in fact, I do have such a grass-roots side, through this way to complete the accumulation of wealth.

We have never seriously studied such stocks and have not seriously explored this method.

In institutions, talking about such stocks seems to be a very degenerate thing. People who come from colleges and universities to buy this kind of stock are similar to Shaolin Abbot as a master of the Ming Dynasty.

This method is far less dependent on resources, market and capital than the previous ones. Therefore, this method is worth studying and summarizing.