抛弃幻想,面对现实（Cast aside illusions and face reality）.docVIP

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2017-08-20 发布于河南
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抛弃幻想,面对现实（Cast aside illusions and face reality）.doc

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抛弃幻想,面对现实（Cast aside illusions and face reality）

抛弃幻想,面对现实（Cast aside illusions and face reality） Good afternoon, everyone： The topic of my speech is abandon illusions and face reality.. Selection of this topic is mainly because the market index performance in the first three months of good, investors may have some unrealistic ideas, including the economic growth bottomed out, the policy is expected to adjust produces more fantasy. I think the actual situation may be very different from the markets imagination, along with the illusion of the process of rising. Put aside what investors think and what the actual situation is like. Let me introduce you here. Generally speaking, it contains the following contents: 1, what is the market and what we are concerned about? 2, by the end of last year, we are relatively optimistic about the market, at that time to judge the market will usher in a wave of rebound, and now that wave rebound in what kind of situation? 3, about earnings improvement, before the market expectations and reality of the contrast. 4, the impact of institutional reform. 5, we conclude with a view of industry configuration. (1) what we need to pay attention to at any point in time: 1. Enterprise profit. 2, market interest rate (risk-free yield). 3, risk preference. Many investors like to link the macro economy to the stock market when they discuss the stock market. (a) for example, some people are optimistic about Chinas economic growth, so they are optimistic about the performance of Chinas stock market.. Thats not true. When they invest, they run into barriers. In fact, the economy has something to do with the stock market, but they dont know what the relationship is. This is not a simple economic growth factor in deciding stock change, economic growth is affected by corporate earnings and stock price effect on the rise, so the determinants of stock prices is the profitability of the business. If economic growth is consistent with corporate profits, then economic growth will boost the rise in corporat