Adapt to the market to optimize the investment theme Money Tips

Category: Money tips Release Date: 2006-02-20

Source: Guangzhou Bandung

Abstract: We need to hold a rational attitude towards the market, more needs to be respectful attitude to look at the market. When the market is significant deviation from our expectations, we must take the initiative to analyze the reasons for this phenomenon, and timely make any amendments.

Game Analysis

A) the main and policies of the Game:

A) For respect of the market can beat the market: Today there are 14 fund management companies 93 Fund, the disclosure of a quarterly show that various types of fund of fund managers in a quarter-round lighten up, of which partial stock-fund lighten up some of the biggest number of regard, a variety of fund lighten up by about 50 billion stock market value of A, we should say lighten up the scale is not small.

Although the A shares of the largest main, that is the fund in a quarter busy enjoying themselves to lighten up, but the city did not fall for it; on the contrary largest city, after a period of time after the shock, and constantly reaching record highs. Of course, the result is not difficult to imagine, the fund lost a quarter as a whole broader market run.

The most interesting is that this year, the cities A-share market more than double their share a total of 739, accounting for 52% of the total number of listed companies; that is, running in the fund at the same time the broad market lost almost half of the stocks in a short period within four months more than doubled. A great contrast, is a kind of helplessness, but also an irony.

OK there are well-known saying: Investment is not only a science, but also an art. In other words, as an investor, we need to hold a rational attitude towards the market, more needs to be respectful attitude to look at the market. When the market is significant deviation from our expectations, we must take the initiative to analyze the reasons for this phenomenon, and timely make any amendments.

An analogy, large blue-chip at the end of a quite good performance, which to a large extent due to large blue-chip low valuation, but the current situation is different, and the market are relatively high center of gravity, including large blue-chip and funds Shigekura second-line blue chips. For example, Guizhou Moutai, Changyu and other listed companies from the perspective of good, but from the perspective of the stock is not the best option. Since the valuation of the whole are high, then to open up space for only by extension type of asset into the subject matter, no doubt most of the cap, lower in this respect have an advantage.

2) afternoon proposes a focus on three types of opportunities: earlier we mentioned that in the first quarter of the fund generally reduced positions, indicating the main force to promote this wave of Quotes is not a fund, but private, retail and other non-regular forces, the nature of these funds Quotes of the current round of speculative color. Most importantly, the size of the non-reduction peak has arrived, in order to successfully send a high current, many companies have additional injection of assets with a directional manner, in a way that strengthened the Quotes of the subject color.

Consider the above points, this column suggested the opportunity to focus on the following four categories, the first is the electricity, with the power shortage situation in the stage end of the long-delayed reform of the power is expected to perk up again, as the next few years the state will focus on treatment plant separate legacy network and consolidate the results Changwangfenkai steadily implementing the separation of major reform, and promote regional power market platform construction and large users and power producers direct transactions. The second is coal, the Chinese coal industry major group strategy to be implemented by 2010, the formation of a number of 100 million tons and 5 million tons of coal enterprises, China Coal Industry Association executives disclosed that the state will soon put on the reorganization of large groups of coal specific documents. The third is the chemical industry, along with the international chemical industry, the transfer to our country, our country faced with great opportunities, while also under significant challenge. Accelerate the industry consolidation, the formation of local industry leader, has become the major aspects of the development of chemical industry. Fourth, military industries, along with two of the end of the war, military orders significantly reduced, the relative degree of military industrial enterprises, the economy declined. From the development experience of countries in the world, M & A restructuring, military products for civilian-oriented military-industrial enterprise development has become an important direction.

At present, China's military-industrial enterprises have also started a similar wave of merger and reorganization.

B) the main financial Game: taking into account the index is at a relatively high level with the upcoming stock index futures and other factors, some of the main body throw some of the lucrative chips to lock in profits, or to shift the focus of defensive configuration varieties, but the overall position relative front has also declined. New funds, although some species have begun Jiancang, but the intensity Jiancang not. In general, agencies have taken to look look, The Hills view of the cautious strategy of fighting tiger, even in the heavyweight competition, the same is not deep wading.

3) between the medium and small retail game: It is recommended to invest in a better focus on the texture of M & A unit, or a lower price-earnings ratio of second-line blue-chip. For the short-term performance gains without the support of individual stocks is too large, you can consider progressively lighten up.

Disk X-ray: is expected tomorrow repeated shocks, maintaining the pattern of high shock.

The opportunity to plate is expected to: It is recommended focusing on companies with assets of subject matter into the chemical industry, coal plates.

Market Risk points: short-term or excessive stocks, pay attention to out rallies.

Protection measures: proper control positions.