Guo Shiliang: Stir Up Stocks, Actually Do Not Need To Know Too Much!

You don't need to know too much about stocks.

70 times the average price earnings ratio is an insuperable curse for the growth enterprise market.

However, the trend of the growth enterprise market has not yet been questioned by the market, but has gone out of the accelerating market.

As of March 4th closing, the gem index once again hit a new high, rising 2.45% throughout the day.

In the domestic market, price earnings ratio, market rate and other indicators are often used by value investors.

However, in practical operation, the actual role of relevant indicators can not achieve the desired state.

What is more, blind and superstitious belief in such indicators leads to frequent market errors.

According to the latest statistics, the current A share market has an average price earnings ratio of 18.8 times.

Among them, the average price earnings ratio of Shanghai stock market is 14.27 times, and Shenzhen market is 27.17 times.

As for the gem index, its average price earnings ratio has climbed to 81.15 times, once again refresh its highest level.

Some commentators believe that the crazy trend of the gem index has reached the extreme, and its performance has completely overdrawn the future profit space.

It is undeniable that since the end of 2012, the crazy performance of the gem has indeed been worrying.

Among them, the growth rate of gem reached 82.73% in 2013 and 12.83% in 2014.

Entering the 2015, the growth enterprise market has not been under too much adjustment pressure.

Up to now, the growth rate of the gem index has reached 36%, and broke through the 2000 integer mark at one stroke.

It is noteworthy that with the continuous growth of the overall price of the GEM market, its fundamentals have also been improved.

Among them, in 2014, the overall growth rate of the growth enterprise market rose to 27.4%, which has increased to a certain extent compared with the previous years.

According to the profitability of the 421 GEM companies, nearly 70% of the listed companies show signs of good performance.

In addition, there are nearly 10% of the listed companies, the performance growth rate has exceeded 100%.

Nevertheless, in the environment where the growth rate of GEM listed companies is improving, their basic situation is still unable to support the current high price level.

Obviously, if we judge the future trend of gem according to the previous analysis basis, then I am afraid that the GEM market will be hit by the sharp market trend.

In the A share market, capital always occupies a leading position.

In other words, even if the market meets a major good policy, but the funds are not strong enough, the positive stimulus will be greatly reduced.

In fact, in the past six months, the take-off of the A share market has mostly depended on the rapid growth of the two financial businesses.

It can also be considered that the bull market is built on a highly leveraged market environment.

From the specific data analysis, since July last year, the growth rate of the two scale of the market business has been closely linked with the performance of the stock market.

Among them, last July, the scale of the two financial businesses in the market was only 450 billion yuan.

By November, the scale of the two businesses in the market reached 700 billion yuan.

As of December 31, 2014,

The scale of the two financial businesses has broken through the trillion mark and has reached the highest level in history.

At the same time, the performance of the A share market has also accelerated.

Attitude.

With the policy of cutting interest rates at the end of November last year, it also ignited the passion of the market.

During the period, the index climbed from 2500 to 3404, and it took more than a month.

However, in 2015,

With the increase of deleveraging, the market scale of the two financial businesses has also changed significantly.

During this period, the stock market has gradually changed the pattern of unilateral rise, and has gradually changed to the trend of high volatility.

Thus, the A share market is still dominated by capital driven.

At present, under the influence of various deleveraging measures, the frenzied performance of the main board market is also flameout.

However, compared with the main board market, the GEM market, which has a smaller market value, occupies an advantage.

According to statistics, the total market value of the main board market is 39 trillion, while the total market value of the gem is only 2 trillion and 800 billion.

In addition, in recent years, the GEM market still belongs to the social security fund and other national team funds.

In other words, when stock market funds can not be leveraged to occupy the main board market with large market capitalization, capital tends to enter the market dominated by gem.

In the final analysis, in the growth enterprise market, large capital institutions only need to use smaller funds to play the role of leveraging the market.

In fact, when the growth enterprise market is peaking, no one can make an accurate judgement.

However, I believe that in the bull market, in fact, there is no need to know too much.

Because the great market will never happen when most people think of it.

Before that, participants only need to have patience to hold shares.