乐生活Li Bei published an article yesterday, comparing the current hot "core assets" of A shares to concessional real estate in the Republic of China, "relying on foreign forces to raise valuation, relying on squeezing other assets to support profitability", which is now the pinnacle. After a long downturn, she looks forward to the "China Securities 500 Index representing the vast manufacturing industry", and puts it into practice. Compared with the TG after the victory of the war of resistance, although weak, it has a bright future. This metaphor is absolutely clear and bright.
Just last weekend, I interviewed two big investors. The five-year yield ranked in the top 1% of the market, which is totally contrary to Li Bei’s view, not the general contrary, but the opposite. One of them has held core assets since 2016. The fund operated for five years with a net value of 4.5 (after performance commission), which is much better than Li Bei. Of course, the past performance can not represent the current point of view, but is only a reference direction.
Mark it today and see which one will win next year when Shanghai 50 and China 500 can match each other. In private equity circles, low-key earning is the king’s way, daring to show their views is encouraged, but it is also a gambling, in any case, it is a double-edged sword (except for the thick-skinned).
