Deeply shocked! Recently, an asset management expert said in a conversation that as long as the time is long enough, it is not a dream for A-shares to rise above 1 million points, and perhaps even he did not expect it, which directly caused an uproar in the financial world. However, under the continuous fermentation of financial public opinion, the relevant parties also had to stand up and clarify, saying that the argument of 1 million points is not aimed at our big A market, it is just a bet made by Warren Buffett and others, especially referring to Wall Street, which has nothing to do with China's capital market.
It doesn't matter if you want the text to be righteous, or take it out of context! Obviously, the remarks of asset management experts have indeed touched the sensitive nerves of the investing public, and the reason why they say this is because of the boring performance of the A-share market that has been spinning in place for many years at 3,000 points. Think about it, how can a market that has been fluctuating at a large level for ten years and cannot even stand firm at the 3,000-point integer mark, is worthy of the imagination space of 1 million points? Truth be told, the rhetoric of the experts has become more and more shocking these years, and to a certain extent, they dare to say anything, completely lacking the principle of due prudence, and it is not surprising that all the ambiguities that arise from this have arisen. If you don't add a time limit to the time, let alone 1 million points, even 100 million points are theoretically possible, I think this truth is simple and straightforward, anyone can understand.
What's more, the famous economist John Maynard Keynes once said: What does long-term mean? The supply and demand curve of this question certainly cannot be explained, and the only answer is that everyone is dead. In this case, a hundred years is too long, and 1 million points has become a typical mirror, and if you continue to talk about it, it is inevitable that you will be grandstanding.
Undoubtedly, our financial experts also understand this logic, but why do they leak their mouths? The reason is nothing more than a dogmatic comprehension of the 'essence' of Buffett's price investment philosophy, after all, the stock god has repeatedly preached on various occasions to emphasize long-term investment, and even claimed that his holding period is forever. To put it bluntly, this extreme investment philosophy is not only inconsistent with the philosophical meaning of pragmatic rationality, but also a misreading and betrayal of the principle of mean reversion. In short, indiscriminate absorption will only cause trouble and lead to constant turmoil!