Private equity champion reveals future hot spot: Securities Brokerage Stock Center

Every reporter Zhu Xiuwei this week, the two sides around the 2,800 point of fierce competition, the Friday plunge let A shares again face the choice, market parties to a A-share future how to run differences further increase. This week's "Daily economic news" interviewed Xu Yong, the first of the May rankings of Sunshine Private equity, general manager and investment director of Oriental Vision 1. In his view, the market short-term adjustment pressure, the eastern vision of the investment portfolio also began to bias defense, but he still think the upward trend has not ended, the median line remains bullish.　　　On the stock selection side, they are more concerned about half a year reported better companies.　　Good results from the judgment of accurate "daily economic news" (hereinafter referred to as NBD): The Oriental Vision from February 2008 began to operate formally, to June 5, the net unit value has reached 1.24 yuan per share, the cumulative growth rate reached 24.11%, far away to win the market, Oriental vision is how to do? Xu Yong: At the beginning of this product operation, we have already seen the market empty, so we adopted a prudent strategy to control the risk. At that time was 70% dozen new shares, 30% investment two level market, operation one weeks later, earned 1 cents.　　Then we completely empty the market, so we resolutely closed the warehouse, last March or April, we did not move the net product, but the market is plunging.　　NBD: Why did you see the sky? Xu Yong: Last year we were able to dodge the Big bear market, mainly because we were very successful in our grasp of the trend. We can control risk in a market slump, mainly because there is a strict risk control system within the company. But last November, we began to see more, the real participation is in December, starting position is not heavy, the Spring Festival before and after the heavy warehouse.　　Although the economic conditions have not improved much, but the rebound trend has been formed, so we actively participate in this period of time has more than 30% of the revenue.　　The combination began in favor of defending Nbd:5 month performance first, how is it done? Xu Yong: This is mainly because of the trend in the first half of this year.　　There are two main points, one or the trend of accurate judgment, we think the market will not have the risk of plunging, and not necessarily can be a lot; More than 2,600, a lot of private placement is very cautious, we are relatively heavy positions. In addition to real estate stocks and car stocks, we also have some financial stocks and consumer stocks, such as liquor and medicine plate, the combination is gradually biased towards defense.　　Our view is that, under the pressure of the IPO restart, the market will be volatile, but in the medium term, there will be no big drop.　　NBD: Now the market to 2,800 points, the differences between the parties are relatively large, how do you see the future market trend? Xu Yong: In fact, at 2,600, the differences between the institutions are very large, after all, the accumulation of profit has been very large.　　At that time we thought that although the short-term will also concussion, but the median line is optimistic, because at that time the liquidity is very loose, with policy, economic support, we believe that the upward trend will continue. But the current market style has been veryBig changes, the recent trend of blue-chip market is quite strong, the previous three-strand stock gradually turned into a large blue-chip, from the theme of investment to the performance-supporting investment, the recent white wine, medicine to make up is because of good performance.　　IPO restart on the securities brokerage shares is a positive NBD: Now the market is very concerned about the IPO restart, then the IPO in the end will have any impact on the market? Xu Yong: IPO Restart is equivalent to increase the supply of stock, will be diverted to the market funds, these two days weak market trend is also related to this concern. But as a normal market, financing must be some, as long as the size of the financing, rhythm control, will not have a big impact on the overall market.　　But if a large number of stocks, the market must not bear, so investors can specifically focus on the pace of the IPO, do not worry too much.　　NBD: Will the Oriental vision make some adjustments in the operation?　　Xu Yong: Now or structural adjustment, to ensure a certain position, because the IPO restart, we also bought some securities brokerage stocks.　　NBD: What do you think of the May macroeconomic data? Xu Yong: As long as the macro figures do not exceed expectations, the wave will continue.　　Economic data has an impact on the market, but the main thing is liquidity, we think in the short term, global liquidity is very loose, so the global stock market is good, but this is not based on a complete improvement in fundamentals.　　NBD: Is there a special bullish plate or stock? Xu Yong: We are more concerned about the performance of the Half-year report better companies. such as securities brokerage stocks, it is relatively low valuation, IPO restart on it is positive. We are bullish on it, but it's hard to say.　　In addition, real estate stocks and consumer stocks we are relatively optimistic.　　Do not agree with the "buy and hold" strategy NBD: You mentioned the trend in the previous several times, so can you say you are a trend investor? Xu Yong: I'm a value investor in essence, and the stocks we choose must be guaranteed by performance. But our understanding of value investing is not buying and holding for a long time.　　Because of the volatility of China's market and the need to take steps when important changes occur, we must also combine our value investment with the trend. For example, we had all the clearance at 6,000 o ' time because the stakes were too high for investors to bear. I am a value investor in essence, but I also pay attention to bands.　　We are successful, is the big band, we judged accurate, and did the right, this is our company's core competitiveness.　　NBD: Do you have any better advice on investing in small and medium investors? Xu Yong: I think for small and medium investors, now the risk of individual participation in the market is growing, as far as possible through professional institutions, such as public offering, private placement to invest.