I ate with some customers this week. When we talked about the market before the seasons, some people sighed, some people had a lot of heart, and successfully talked about the courage and courage at that time.Soul, I missed more is regret and unwillingness, and there is a loud noise that the operation errors have left the market. Looking at the expressions and words of each person, my thoughts suddenly returned to 2015.
That is the first year to be known as "national leverage".Different leverage ratios seemed to be out of order without borrowing some money at that time. As a result, the Internet crazy in the first half of 2015 became interesting with the daily limit of thousands of shares in the middle of the year.Most investors who are addicted and killed, once the cost is high.
But what I want to say is that leverage is just a amplifier of human nature, and the capital market itself is a game field of human nature. Buffett said that "the investment part is scientific, part is art, and art is more important than art.Science, but the stock gods teach you all the science parts for life, how to pick up cigarette butt, how to look at the industry, how to maintain reason, and how to use humanity.As for the art of art, it is impossible to find it, and let it go.
This round of adjustment began after 2021. Finally, the liquidity crisis at the beginning of this year, the valuation, profit, and liquidity have a three -kill situation.The valuation came to the bottom of the history, and the liquidity was close to exhausting. Although the profit inflection point was not clear, many varieties were worthy of long -term attention.At this time, using panic and bold start, the premise background is sufficient. Such an opportunity has been in the past and will still be in the future.
This is not a bold problem, but a problem of investment science. As long as it is considered a good probability odds, at the time, we did not need to listen to others.It can be judged rationally. Of course, when the final selection, we still need to keep the ability to keep the ability. "When the tide is retreating, we must first see who is swimming naked.Its the key. "
During the communication with customers, most people are talking about emotions, markets, policies, and fluctuations. In fact, investment is just a simple mathematical problem, but this question is just this questionIt often appears on the test papers of other subjects.At this time, the Shanghai Stock Exchange Index Station was 3,000 points. Some people cheered, someone lost, or that sentence, look at your basket, do this mathematical problem.Find the "cigarette butt" left by others when panic, and take a few mouthfuls. If it is still a "cigar smoke buttons", then congratulations, you can ignite a longer ... (The author is the research director of Shanghai Junan Shanghai)
