There are obvious structural opportunities in the WN market

Long Sheng Tong-Qing separable trading fund on May 6, the end of a day of sales, becoming the first in more than a year to start the scale of more than tens of billions of stock direction funds.　　The burden of managing such a giant aircraft carrier is certainly heavy. But WN clearly allows many of the owners to rest assured that he pursues the big probability event, through the difference decentralization combination, reduces the risk probability, believes the time value, but is not rigid, "most people like the excess income, I also like, but I in the investment operation process will strive to maintain the stable mentality, first pursues the stable average income." Judging from past achievements, WN's performance is remarkable. During the dynamic selection period in 2006-2007, the fund was awarded the three-year, two-year five-star fund by Galaxy Securities, and the one-year four stars fund. As a manager of the Changsheng Growth Value Fund in January 2008, the Fund was recently awarded a one-year five-star fund by Galaxy Securities.　　January 2009, awarded the five-star fund manager issued by the National Gold Securities Research Institute. A lifetime of only one long-term investment opportunities long sheng with the closure period of three years, which means that in these three years, with the Qing fund can not be the index and the ranking of the obsession, the most critical is the pursuit of three years cumulative performance.　　This is also suitable for WN, his own style is the pursuit of long-term investment. "I personally pay more attention to value investment, each person has only one life opportunity, which means that everyone actually has a long-term investment opportunities." "Wn explained that excluding young people with a certain amount of time before and retirement has a lot of consumption, the real long-term investment time is not long, 30-60 years of up to 30 years, in these 30 years, if the investment varieties error, there will be no opportunity to start again."　　For investment, only clear the investment target, can calculate the average annual rate of return, as well as the possible fluctuations and risks, do the initiative of the bear, and then know the unity, can achieve long-term stable growth gains. "Most people like the excess income, I like it, but I will try to maintain a stable mentality in the process of investment operations, the first to pursue a stable average income, and then consider whether there is cumulative income." Wn smiled and said. He doesn't like to take risks for small probability events. In its view, the market may be in the acceleration of the fastest time, speed, range to reach the extreme of most unimaginable. 2007, for example, was the ultimate manifestation of greed, and 2008 was the ultimate manifestation of fear.　　The biggest winners of the 2008 global capital markets were bonds and gold, reflecting the extreme risk aversion of people. "Take a look at the comparison chart of gold and oil in 2008, the two are moving in the opposite direction at such a fast speed and amplitude, think about if you do the futures hedging between the two, like to do the prediction of the people, if the direction of the reverse, the consequences of what?" Swift ... "He uttered such sighs that once they fail, people will say that this is a small probability event, to forgive their impulses, but the influence of small probability events, penetration, radiation will affect your life for a long time, veryTo change the rules of the game in some industries. Is the market really rational long-term investment equivalent to finding a century-old store to invest? It doesn't seem that way. In the midst of this economic crisis, some hundred years old shops in the overseas countries have closed down, frequently impacting people's deep-rooted values. WN believes that the new cycle and led the industry and stocks are brewing development. The market only has to do with the value of the company, and it has nothing to do with people's values.　　The implication is to really find a good company that conforms to the trend of economic development. An entrepreneur once said: "Do not overestimate the role of each of us, is the reform and opening-up 30 years of the trend to create the current enterprise brilliant 1 wn to this sentence very much, is called the Times to create a hero." So who are the leading countries, industries and stocks in the future? He said that after the 1998 Southeast Asian financial crisis, the United States appeared technology boom, after the United States to save the technology bubble, lower interest, and then the real estate boom.　　In essence, the economic boom since 1998 almost all related to financial innovation, because of the constant rescue of various crises, resulting in low interest in capital prices, a large number of financial funds to participate in industrial industries, using virtual means such as leverage to pry entities, in the short term to form a huge industrial financial consortium. 2000 U.S. technology Market index foresight, and then the 2007 financial markets and other traditional market indices to see the top, but many financial companies in fact did not really appear trend rise, in a very large interval consolidation, why these world-class companies are not up? "Behind the huge leverage risk, seemingly irrational, practical very rational." WN points out, but when the last straw that crushed the camel was formed, it was these Chang companies that collapsed overnight, crises such as dominoes, sweeping the globe, and completing the return in the most brutal way.　　Stock prices in the immediate depth of the next jump, complete the cycle of history, looking back to the market was very rational at that time. WN said that after China started the real estate market in 1998, many of the comments that China's construction investment in the vast number of hardware assets have surpassed foreign countries, the software seems to be far away. After the crisis, many views suddenly changed dramatically, saying that the United States is deleveraging and that China should be a process of deleveraging.　　He said that after the boom and crisis, the securities and industries changed from marketization to nationalization, and to the transition period of virtual industry. Write down your feelings at any time wn is a very diligent fund manager, often thinking about the investment problem, and will be in time to write down the sentiment.　　This sentiment involves all aspects, both the United States and China's national economic balance, Buffett and other investment master investment experience, but also in the grassroots experience in life. For example, he thought of market paranoia and equilibrium, that the original globalization is mainly reflected in the Chinese youth, through export exchange, accumulation of wealth, the Americans mature, through the financial stimulation of consumption, payment of goods. Production in China, consumption in the United States, exports and resources to buy U.S. bonds in the form of return to the United States, the United States financial institutions with these funds to add a bumperThe pole stimulates the American people to consume, completes the integration circulation. Chinese production corresponds to American consumption, finance as the middle lever, China is a big producer and exporter, the United States is a large consumer service exporter, this paranoid state to the limit, crisis, can only seek rebalancing. In the long run, the United States and China will carry out the national balance, through the formation of a certain degree of economic internal self-circulation, improve the ability to resist external risks. China should be leveraged and America should be leveraged.　　China should make up the export gap by starting consumption, and the United States should save and make up for its debt gap. At the end of the interview, WN said that the core investment concept of long Shengtong is "value-benefit" strategy. Through the in-depth investment value analysis of listed companies, based on the competitive advantages of listed companies, performance expectations, growth value of the balance, select the medium and long term performance growth and value of undervalued stock as the main investment object. WN's view on the market is: in the long run, the market is in the upward trend; in the medium term, there are obvious structural opportunities.