Maori brother believes that the style of today's market is that small ticket stocks have declined, while weighted stocks have led to the rise of the index. We have long been prepared for this situation, and this preparation has a lot to do with two factors: valuation and sentiment. Emotionally, we have a cautious index, which directly reflects the current market sentiment. The meta-universe began to enter everyone's field of vision at the beginning of November, and gradually faded at the end of November, and our market sentiment also improved significantly from the beginning of November, and now the mood has begun to turn downwards to a very high level.
Maori: The current market style is high sentiment and low valuation!
In terms of valuation, we have weighted P/E pivot data for major indices. From the data point of view, in addition to the ChiNext index, other indices are at an undervalued level. The weighted price-to-earnings ratio of the CSI 500 Index is in the 13.73% quantile for two years; the Shanghai Composite Index is 22.13%; the CSI 300 is 24.39%; and the SSE 50 is 32.58%. So from the valuation point of view, the current market is clearly at an undervalued level.
Yu Jing: What directions can we focus on next investment opportunities?
In our four-quadrant analysis method of sentiment plus valuation, if the sentiment and valuation are very high, then the market is a situation in which large and small stocks fall together; if it is high sentiment and low valuation, then it will be a theme decline and a large vote to start the market; if it is a high valuation and low sentiment, then it is a theme opportunity, a large vote does not move the market; if the emotion and valuation are very low, then it is a situation in which the size rises together. So now the market is a high sentiment, low valuation style, then the theme of the decline and the launch of weight stocks is naturally expected.
Fang Guangming: The latest adjustment of the investment direction, biased towards consumption to do configuration!
Fang Guangming believes that the view of the index has always been bullish, and today the index is finally standing at 3600 points. But now it's time to adjust in the direction. In November, our strategic direction was mainly small-cap stocks, and now we will be biased towards consumption appropriate to do some balanced allocation. Since it is consumption, the two preferred directions are liquor and medical beauty.
If you feel that the viewpoint is not bad, welcome to comment.
(Editor-in-Charge: Qin Jinhua)
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