A Shares Ushered In More Than A Week'S "Head Start."

I have not yet recovered from the excitement of the new year.

It will usher in more than a week of "blow the bullet", to the stock market in 2017 brought "cold".

The overall trend of growth stocks is sluggish, and some growth fund managers have stepped on thunder frequently.

Turning to this year's investment strategy, last year's top performance of a bank department fund manager, according to a reporter, this year's investment strategy first of all, "control positions", followed by trying to match some flexible varieties, such valuations are not very high, but the performance is likely to exceed expectations.

In view of the above fund managers, taking into account the difficult to say loose funds and high valuation factors, growth stocks in 2017 will continue to "squeeze the bubble". Overall, this year's operation is more difficult, but through flexible position strategy, looking for some defensive counterattack rebound.

For the 2017 market trend, in the recent interview with the Shanghai Securities Journal, Celestica fund easy fund manager Liu Dong's view is also cautious, especially high valuation and high bubble assets risk.

In the background of short term stock market, many private equity managers who pursue absolute returns have adopted a more conservative strategy: "substantially reduce positions, or even short positions."

"In 2017, the overall tone of the policy is also based on risk prevention and bubble prevention. The policy of stimulating bubbles and debt growth should be convergent. In terms of asset allocation, the allocation of high valuation and high bubble assets can be minimized."

Liu Dongtan said, the space for operation in 2017 is larger than that in 2016.

In Liu Dong's view, overall in 2017 was better than in 2016, but it was not a bull market.

There are three reasons: the fastest stage of depreciation of the RMB against the US dollar has passed; the decline of the private economy in the middle of 2016 has been stable, and now it has reached the critical point; in 2017, monetary policy will not be as loose as the previous two years, and the rhythm will be properly controlled to prevent asset price bubbles and debt leverage from widening.

Specifically, Liu Dong is optimistic about three major sectors: medicine, food and drink, military industry and so on.

The environment is better than 2016. Although the valuation is not cheap, some stock fundamentals still grow than those in 2016, and banks with low valuation have certain advantages.

At the end of last year, the high net value population was turned from optimism to prudence, but the demand for equity investment was still strong. For this reason, their product strategies were focused on equity, quantitative investment and increase, and for the time being, they did not consider the issuance of pure stock and bond funds.

"I set two rules for myself: first, no intra day trading; second, completely eliminating leverage."

Zhou Wenming, a professional investor who ran through the stock market and futures market for many years, expressed great reverence for the market at the third commodity currency Summit Forum and the investment forum 2017, which was held by Sina Finance and economics.

In the past year, Zhou civilization rarely participated in the stock market, and most of its efforts were focused on commodity futures.

For the unclear market, Zhou civilization does not predict. Now it tends to reduce the position and wait for the defensive counterattack.

In addition to lowering the warehouse position appropriately, "bottom-up"

It is also essential.

Although the difficulty of stock selection is increasing, most fund managers still want to find some directions which may be flexible, such as the theme of state-owned enterprise reform that has recently been highly heated.

"In the short term, heavy defense is the key to heavy defense."

The Kowloon Thai Fund believes that it is expected that the plate with better valuation and steady earnings growth will still have better opportunities. From the perspective of the plate, it will mainly focus on consumption and financial sectors.

"After continuing the bubble, this year will be better than last year. There will be appropriate allocation of some theaters and some high-quality content production companies. Although the best investment time in the industry has passed, there may still be a wave of rebound this year."

The foregoing banking department fund manager said.

How to avoid trampling growth stocks? The fund manager gives two words: "research". This includes both the judgment of the industry and the judgment of the stocks, as well as the assurance of the management of the company.

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