Market participants in the eyes of the gem: investment is like love

In the gem is not open before the board, the market is looking forward to the gem will become China's "Nasdaq", to create China's "Microsoft" and "Google." Now three years later, a fund manager to the reporter to describe the gem: 90% of the stock trend from the high way down, overlapping innovation is low, but still has about 5% of the stock, the listing has relied on the high growth of performance, the stock price has risen. In the eyes of the fund manager, Gem stock is a certain selection criteria: The company's profit model can support the rapid expansion of the company's light assets? Industry market space, can support the company from the billions of market value of small companies to the tens of billions of market capitalisation of the company transformation? The company's competitive strategy is appropriate, management capacity, the attitude of the executive team, etc., if the above several aspects of the investigation are no problem, such a company from a large probability, can achieve high growth. Fund manager said and love the mentality of the process so consistent with "from time to times to test, check their character words and deeds, and then decide whether to entrust lifelong" "East Sunrise West Rain, road is not clear but there is clear." "In the Wang Jianqiang of the Gem Index fund manager, the course of the investment process is in fact very consistent with the process of love." At the beginning of this year, the market is in the downward adjustment stage, all the road scholars, macro strategy masters have seen the empty market. Gem has also been "high valuations, delisting system, the new Sanbanxi imminent launch" and many other adverse clouds shrouded. As a rare gem in the market fund, Financing Gem Index fund difficult to set sail. "Investment in the initial, wide net, wide coverage, combined with macro-industry background, to determine the general idea, first of all look qualified" Jia son "into the watch list. Wang Jianqiang said, all this is like the beginning of love, when the Willow Green, secretly looked at, select the right person. Then began to research upstream and downstream, visit the company's executives, explore the company's operations and specific prospects of the action, as in love, so that the acquaintance of the sisters, to ask about family, whether motivated and so on. After the selection of the label, the fund manager began to try to position, continue to observe, to see whether the company can be combined words and deeds, and then decide whether to add heavy positions. This is just as lovers get along, from time to time to give a small test, check its character and words and deeds for good match, and then decide whether to entrust lifelong. However, there are accidents, people have unforeseen. The company's sky is shrouded in showers, or the sun is shining, still unpredictable. Wang Jianqiang said, overall, the general environment of enterprise survival by the economic growth cycle law and industrial structure changes to decide. The short-term changes in monetary policy, macro-industry policies, industry capacity and competition are more like the changing clouds in the sky. Fund managers can not accurately grasp every cloud and every ray of sunshine, but need to find out whether there are more and more opportunities for sunshine. Do not listen to the management word "risk considerations are the key to gem investment," "The investment in gem stocks from the IPO company began to pay attention to." "A shanghai-based fund manager, who declined to be named, told the Beijing Morning News reporter that the researchers had already begun to communicate fully with the company's management when the gem was marketed. For the bullish company moreis to conduct field research, combined with the industry's judgment, from the company up and down the side to understand the situation, to determine whether investment and investment ratio. After buying the stock, it is necessary to conduct regular research on the company to understand whether the business situation is in line with the expectations and take appropriate countermeasures. For the investment of Gem, the key is to fully investigate the industry, and not just listen to the company's management word. The fund manager said one of the most impressive things in the past three years was that a listed company in a photovoltaic industry had achieved a high growth in the first three years of its IPO, and that the company's management had a good picture of the future. However, several other listed companies in the same industry have gone through the peak of performance growth and the profit situation is deteriorating. The company's explanation is that its technology is good and that market share will gradually increase, so that investors do not have to worry about performance problems. In the end, the company went on a smooth listing, with a quarterly performance that remained high. But the report, released after the IPO, showed that performance began to plunge and share prices fell by half from the highest point. The fund manager admits: "The consideration of risk is the key to gem stock investment." "Investors say Love" chicken flying Dog Jump "gem" of the world's only one, China's gem only three years, why so urgent? Mr. Liu, who works in a university in Hainan, has been a loyal fan of the gem. Although last year, its investment in the gem of more than 30% losses, but Mr. Liu said, there is no way, he is like the "Chicken Fly Dog Jump" gem. "Microsoft in the United States is one of the world, China's gem only three years, why so urgent it!" Mr. Liu said that he most miss the end of 2009 to 2010 days, the Gem company is not many, the index is active, the highest has risen to 1200多 points. "The hands of the stock rub on the rise, this is the most happy when the fry." "Bubble more, Fall is very normal, can't stand to run!" Mr. Liu said, want to do gem investment, to have a strong psychological capacity, such as the gem delisting system has come out, poor performance of the stocks do not touch, because maybe after the real exit. "In addition, more than 300 gem companies are a more appropriate figure." But I heard that there are more than 800 companies lined up outside the market, and think it's scary. If the gem after the company really over the thousands, it must be garbage stocks, gem is really dead. "The author of this edition of the morning newspaper Wang Jie