GEM investment must grasp the concept of the medium-term trend to avoid the blind pursuit

  GEM gradually increased attractiveness of the "new economy" and "unicorn" has recently been a major concern of market participants, wind data shows that since February 12, the concept of sector rose Foxconn%, millet chain sector rose%, horn the concept beast sector rose%, and "nineteen prices" on the market in mid-2017 in stark contrast。   Southwest Securities believes growth stocks counterattack, mainly derived from the fundamentals and catalysts resonance。 On the one hand, after a year of digesting valuation, the valuation of growth stocks have fallen to a reasonable range, but some of valuation and growth stocks have not lost on the White Horse Unit; on the other hand, after the 2018 Spring Festival on a number of policy the change, to become a catalytic factor triggering growth stocks rise。
  Financial securities strategy research team noted that the market for small and medium-ups of risk appetite has gone up, and will continue to rise。 Support for the new economy will be a long-term policy direction, especially the supply side gradually deepen reform to improve the quality of supply as the main requirements after the policy shift for the importance of small and medium-creating growth stock market is self-evident。
At the same time, A-share market after more than two years of division and pushing into the high valuation of shares of White Horse consumer demand for increasingly high performance verification, performance is not up to expected to lead the industry chain downstream。
Under the trading channel congestion, the market gradually awareness of potential risks。 On the other hand, the relative valuation of the GEM board in the bottom of the history of the region, upwards of return is higher than the risk of down, gradually increase the attractiveness。   "There is growing innovation sector further policy support, but also the future direction of economic development, can continue to focus on, to form a new momentum to improve revenue and profitability, it is recommended attention to electronics, computer, communications innovation growth plate。 "CSC team said Strategy should focus on the texture of individual stocks in the current background related to the concept of plate full swing, investors still need to remain vigilant。
Rock stars investment pointed out that small and medium-record performance is more differentiation, from the current situation, after killing more than two years under valuation does appear to be a lot of earnings and valuation of stocks to match。
But overall, the latest results show notice% decline from the third quarter 2017 to fourth quarter 2017% GEM (excluding Wen's shares and mergers and acquisitions over the past year) net profit growth, while small plates growth still maintain a high level (excluding M & a and profit growth in the past financial year, up from the third quarter of 2017% to% in the fourth quarter of 2017), which means that there is a big small start-ups the performance differentiation, and therefore should focus on stocks when investing in texture, rather than external events。 Avoid blind pursuit of concepts and hot, but should be more attention to the quality of listed companies, in order to obtain a more robust return on investment。
  Shun Securities research reports that, if the market continued to show rapid growth stocks rising trend, the probability adjustment and subsequent retracement appear will rise; if short-term correction, predict its magnitude will not be great, more investors should be based on to grasp the medium-term trend, but investors still need to pay attention to avoid pure subject of speculation。   Suzaku investment represents, on the whole the overall valuation GEM still high, the follow-up should focus on mining investment earnings quality stocks a good layout, dilute the property sector。 Operation, will give priority to grasp the leading technology scarce recently, the leading part of the consumer, investment opportunities Some low valuation cycle products, choose a reasonable valuation, relatively high earnings visibility of the company making active layout。