A shares are really dogs.
The longer you invest, the stronger this feeling becomes.
First, polarization is serious, and this year we are looking at new energy. Whirring up, you buy new energy, is to fall, regardless of whether your performance is good or bad.
This is not how good the bank's performance is in the third quarter, nor can it stop the track from being bad, and it is falling hard.
The medical consumption of a good track does not seem to be bright.
A share trading volume of more than one trillion will be on the news, you can Tesla a stock on November 1 a day trading volume is 65.3 billion US dollars, according to the exchange rate of 6.34, a total of 412.1 billion, even if 400 billion, is also 40% of the A-share trading volume.
To be honest, the weight of our Guo Jia stock market in the economy is too light.
Second, down and down. Big and small things, as long as it is a thing, we will fall, there is nothing to make up, we can also whirring down. No temper at all, no bones at all.
Soft bones, I am obedient.
However, from the valuation table, the price-earnings ratio of CSI Liquor is 42.28, and the return on net assets is 25.05%. The P/E ratio of the CSI 300 is 12.95 and the return on net assets is 12.05%. The price-to-earnings ratio of the CSI 500 is 20 and the return on net assets is 9.62%.
The NASDAQ 100 has a P/E ratio of 33.12 and a RETURN on net assets of 28.99%, while the S&P 500 has a P/E ratio of 25.96 and a RETURN on net assets of 18.30%.
To know that the NASDAQ 100 is a wide-based index, and liquor is the industry with the best business model in China, on this, the industry index cannot beat a wide-based index, not to mention that people have 100 constituent stocks.
The CSI 500 is a slag compared to the S&P 500.
From an investment perspective, ROE of 18.30% and 9.62% are two completely different assets.
From an investment point of view, the perennially rising US stock market is actually more undervalued than the declining Chinese stock market.
From an emotional point of view, it is difficult to accept, but from a rational point of view, it is like this.
If the Fed's monetary policy shifts, then the US stock market may have to react, but in good conscience, our asset quality is really inferior to others.
The reason for this result is that the industrial structure is different, and China and the United States have different positions in the world economic pyramid.
We are producers, American consumers (enjoyers).
Therefore, we are always facing the situation of overproduction and insufficient consumption. The United States, on the other hand, always consumes ahead of schedule.
The structural transformation of our economy is imperative.
Many people still worry about our status as the world's factory, in the past, it was indeed an advantage, an achievement, but we can't work all our lives, that is a shame.
Supply-side reform, science and technology to build a country, this is the trend of the times.
However, the transformation of economic structure cannot be achieved in the short term.
I have always felt that it does not make much sense to measure the strength and weakness of an economy by total GDP, or even per capita GDP.
The development of the economy also has a process from primary to high-level, the low-level demand is satisfied, the high-level demand naturally appears, and then the economy has to meet the new demand.
If a person from Guo Jia is busy with food, clothing, shelter and transportation all year round, then the economy is very rudimentary.
In yesterday's article I raised the recent mass start of price increases in consumer goods companies, I said:
If the price rises, will the profits of the enterprise increase? Not necessarily, such as East Ejiao, consumers can choose to reduce consumption, but there is no substitute, otherwise how to get up. If prices rise, will there be inflation? Not necessarily, there is a stagflation in economics.
Consumption, at least have to be rich. Have your wages gone up?
Today is fine, I went to Pinduoduo and Jingdong to see the sales of soy sauce, I directly entered the keyword "soy sauce", there is no other definite term.
Jingdong ranks in front of 14 products, 3 Lee Kum Kee, 9 Haitian and 2 Qianhe.
Pinduoduo I took a screenshot of the first 17 species, 13 kinds of Haitian, 2 kinds of June fresh, 1 kind of Qianhe, and 1 kind of Lee Kum Kee.
On October 12, Haitian Flavor Industry issued an announcement that in view of the continuous rise in the cost of major raw materials, transportation, energy and so on, after research, it was decided that the ex-factory price of some products such as soy sauce, oyster sauce and sauce would be adjusted, and the adjustment range of the main products would be 3%-7%, and the new price implementation would be implemented on October 25.
On November 1, Lee Kum Kee notified that due to the continuous sharp rise in the cost of major raw materials, packaging, transportation and so on, Lee Kum Kee decided to adjust the ex-factory price of some products, ranging from 6% to 10%. The new ex-factory price will be implemented from December 16, 2021.
According to reports, after the price increase of Haitian Flavor Industry, the retail price of C-end products of most of its products has increased by 1-2 yuan.
From the perspective of the market, the concentration of the soy sauce industry is relatively high, and the competitive pattern of the industry shows a trend of "one super and many strong". In recent years, with the continuous improvement of the per capita income of urban residents, consumers have paid more attention to condiment brands, quality, and application scenarios, and are willing to pay more to obtain better condiments.
For consumer goods, the channel is very important, from the current market distribution, Haitian flavor industry grasps the high-quality dealer resources. Catering customers are sticky, and Haitian's high market share in catering channels has created high barriers.
From the perspective of product price, Haitian focuses on cost-effective strategies. Haitian large single straw mushroom old soy sauce, gold standard raw soy sauce, card space demand the largest price band, can achieve brewing technology leading, competitive advantage is obvious.
After comparing the industry competition pattern, channels, brands and costs of the soy sauce industry, it is easy to find that Haitian Flavor Industry has great influence in this industry and is a well-deserved big brother.
Now Haitian Flavor Industry has decided to increase the price, and the younger brothers do not fight a price war, directly follow, and consumers can only accept it.
After the price of raw materials falls, as long as the competitive pattern of the industry is stable, then the price that has risen will not fall.
This may be the investment charm of consumer goods.
My WeChat public account: Stock sea contemplation, welcome to pay attention, let's talk about investment.