Du Kejun: The epidemic will not have a fundamental impact on A shares

Du Kejun: The epidemic will not have a fundamental impact on A shares

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  Source: Red Weekly News from the Securities Market. Lin Weiping’s pneumonia epidemic dilutes the enthusiasm for the Spring Festival this year, and also makes investors worried that it will have a fundamental impact on A shares.From the perspective of national prevention and control, the highest peak of the outbreak (Jin Qilin analyst) may cause the market to reach a low point due to panic.

Through the improvement of the epidemic data, market conditions will also pick up.

Personally, although the current overall estimate of the A-share market is not particularly high, it is estimated that it is still a good thing for investors to choose a good target to open or increase the market.

  In the investment sector, many investors may focus on some sectors related to the epidemic, such as medicine and masks.

However, I am not too worried about investment opportunities in these areas. I think this one-time investment opportunity will pass in about two or three months. There are not many long-term investment opportunities worthy of attention.

  However, the outbreak may have adverse effects on catering, tourism, hotels, transportation, etc. Some stocks may be oversold because of this, especially some leading consumer stocks may usher in a new round of killing estimates. However, the estimated revaluation alsoBring good investment opportunities to these leading stocks, and this is my special concern.

  In addition, affected by the epidemic, everyone is reducing outdoor activities and increasing online activities. This is definitely good for Internet companies. If it is estimated that they will be killed, they will be wrongly killed, because the 武汉夜网论坛 subsequent performance of these Internet companies will definitely look good.

  ”Red Weekly” has promoted and disseminated value investment in a comprehensive transformation since 2016. I can be regarded as one of its witnesses and peers. I think this is a meritorious thing.

At present, there are too few media that can positively understand and integrate value investment in the A-share market!

More voices in the market are still focused on traditional game investment, such as chasing attractions, listening to news, etc., and eventually lead investors to chase up and down, which is an important reason why many investors in the market do not make money.

  I personally believe that the direction of the fixed value investment in Red Weekly is correct, which can open the door to value investment for many individual investors.

In 2020, I will also expect to publish more articles on value investment perceptions in Red Weekly, together with Red Weekly, to contribute to the development of value investment in China’s capital market.

  As a value investor, my ability circle is limited, but Red Weekly has expanded to this area by participating in Berkshire shareholder meetings in Omaha and interviewing Charlie Munger and other practitioners of valuable investment.The boundaries of my personal circle of competence; permission also brings me useful inspiration.

  From a value perspective, I believe that investment fragility in 2020 will increase compared to 2019, but I am not bearish or pessimistic about the overall investment opportunity.

  Affected by the systematic decline in 2018, most assets, both high-quality tickets, have experienced an estimated downward trend. In 2019, there are already companies with very poor performance. Most companies have estimated repair processes, which have basically reached historical scale, and some are even close.Historical estimates are high.

At the end of 2019, part of the emergence of the core asset class target, so the market has improved some high-quality core asset stocks.

Personally, I believe that after the disclosure of the 2019 annual report, the market will realize a new round of forecasted conversions. Before the conversion and conversion, the stocks that are not expected to fall too much, or that they have not risen too much, will usually face regular mistakes.

  As a result, the logic of improving by evaluation in 2020 may be weakened. Not all core asset companies will continue to enjoy the evaluation premium. Investors should be cautious about this.

To invest more, it is necessary to have a correct judgment on the future growth and release of corporate profits. Only core and endogenous companies with sustainable and steady growth can bring sustained investment returns to investors.

  In addition, in 2020, investors are advised to pay due attention to the investment opportunities in the Hong Kong stock market, because from the perspective of the comparison of global important market indexes in 2019, Hong Kong stocks are estimated to be the lowest.

Some outstanding companies in Hong Kong stocks, some of which are leading stocks of Internet companies, have recently recovered their estimates to near the median historical estimates.

Unlike some A-share core asset companies, it is estimated to be in a historically high position.

From this point of view, the opportunities for improving the quality of Hong Kong stock companies are more worthwhile.