The market at the bottom of the shock mechanism three path layout outlook / reporter Zhao Mingchao, editor of Yu Yong from the start on Wednesday, the market believes that the institutions at the bottom, severe concussion, no matter from the capital side, face value or sentiment, market shows signs of stabilizing at the bottom, but the investor sentiment is still low, also need to further observe the rebound. From the investment opportunities, we can focus on policy benefit side, around the annual report, as well as the prosperity of the industry, the growth of new industries to determine the layout. The market or at the bottom to stabilize from Wednesday at the bottom of the V type trend began, "fall" of the market began to gradually stabilize, although late Thursday reproduced panic down, but then the market is at the bottom of the concussion, the gem is a collection of four with Yang, some stocks by hot money institutions involved in the rush to raise etc.. From the policy level, the central bank issued a new mortgage policy, in addition to individual purchase City, the down payment of the first suite down, means that the real estate "destocking" began to be implemented. Institutional investors believe that the next and the go productivity, deleveraging, cost reduction, short board "and other related policies will further implement; from the capital perspective, the central bank to carry out reverse repurchase operations, to provide liquidity support to the market. Institutions believe that funds can be achieved smoothly holiday; from the perspective of value, dozens of listed companies overweight, repurchase and other operations, from a certain level means that investment value began to gradually highlight. Stock repurchase to boost the share price is very obvious, data show that this year there have been more than 20 companies announced the proposed repurchase; from the investor sentiment, the financing balance decreased continuously in 22 trading days after the rally, and has dropped to 900 billion yuan, down space is also limited. A private equity fund manager said that the year fell greatly on the market power, especially the influence of investor sentiment. But the opportunity is also come down, down is the release of overvalued plunge to overkill, "the only proper course to take, although many growth stocks have entered the range of investment value, but there is a stop request private funds, Qingcang can only participate in the game, the value of investment actually can be considered for admission, the left trading investor preference now is a good time." In fact, another private equity fund manager interviewed by the reporter last week said that because of the management of customer funds, there is a stop loss requirement, you can not rush Jiancang, but if you own money, you will be heavily loaded into. The three path layout outlook on the outlook layout from institutional investors, mainly in the following way: first is to pay attention to benefit from the policy, especially after the inventory to the rapid introduction of supporting policies in real estate related to capacity, to leverage, to reduce cost, make a short board "policy is also expected to be launched, and a month after that high-profile national NPC and CPPCC, changes need to focus on policy," put forward NPC and CPPCC across the country last year, "Internet plus" strategy, which run through comprehensive investment in the main line, this year’s new policy should focus on." The second is to focus on companies with better annual reports, especially in the three quarter and the four quarter. In fact, many journalists are talking about it

市场底部震荡 机构三路径布局后市   ⊙记者 赵明超 ○编辑 于勇   从上周三开始,市场在底部剧烈震荡,机构认为,不管从资金面、价值面还是情绪面,市场呈现底部企稳迹象,但在投资者情绪依然低迷的情况下,还需要进一步观察反弹力度。从投资机会看,可关注政策受益面、围绕年报以及行业景气度向好、增长确定的新兴产业予以布局。   市场或底部企稳   从上周三底部V型走势开始,“跌跌不休”的市场开始逐步企稳,尽管上周四尾盘再现恐慌性下跌,但此后市场呈现底部震荡走势,创业板则收出四连阳,部分概念股受到游资机构参与抢筹等。   从政策层面看,央行发布房贷新政,除了个别限购城市之外,首套房的首付比例下调,意味着房地产“去库存”开始得到落实。机构投资者认为,接下来与“去产能、去杠杆、降成本、补短板”等相关的政策将进一步落实;从资金层面看,央行开展逆回购操作,对市场提供流动性支持。机构认为,资金平稳过节基本可以实现;从价值层面看,数十家上市公司增持、回购等操作,从某种层面意味着投资价值开始逐步凸显。股票回购对股价提振非常明显,数据显示,今年以来已经有20余家公司发布公告拟实施回购;从投资者情绪看,融资余额在22个交易日连续降低后止跌回升,并且已经回落到9000亿元左右,向下空间同样有限。   沪上某私募基金经理表示,开年大跌对市场杀伤力极大,尤其是对投资者的情绪影响。但是机会同样是跌出来的,下跌是释放高估值的不二法门,急跌容易矫枉过正,“尽管当前不少成长股已经进入价值投资区间,但对于有止损要求的私募基金来说,只能轻仓参与博弈,价值投资者其实可以考虑入场了,对于偏好左侧交易的投资者来说,现在已经是较好的时机。”事实上,上周记者采访的另一位私募基金经理就表示,因为管理客户的资金有止损要求不能贸然建仓,但是如果是自己的钱就会重仓买进去。   三路径布局后市   从机构投资者对后市布局情况看,主要有以下几个路径:   首先是关注政策受益面,尤其是在房地产去库存配套政策迅速推出之后,与“去产能、去杠杆、降成本、补短板”等相关的政策预计也会接连推出,加上一个月后就是备受瞩目的全国两会,需要关注政策的变化,“去年全国两会上提出的‘互联网+’战略,成为贯穿全面的投资主线,今年新推出的政策值得重点关注。”   其次是关注年报业绩较好的公司,尤其是去年三季度及四季度创新业务向好的公司。事实上,多位接受记者采访的新兴成长基金经理表示,如果创新业务有百分之二三十的增长,市场给以30倍的估值,已经是很好的价值投资机会,尤其是行业空间巨大、短期没有天花板的行业,更值得重点关注。对于跨界发展新业务的公司,在新兴领域的推进情况值得跟踪观察。   最后是长期向好的新兴产业,主要特征是迎合社会发展趋势、受到政策推进、需求空间较大等,尤其是用创新手段改进了商业模式,提高了相关产业链运行效率的公司。在机构看好的行业中,包括VR、智能汽车、体育、精准医疗、新能源汽车等。其中潜在消费空间巨大的VR行业,随着技术提升,今年有望开启爆发性增长元年;智能汽车受到众多科技巨头重金投入,产业资本纷纷发力,众多上市公司强力跨界,尤其是在新能源汽车推进下,在汽车电子支撑下有望取得突破,而智能驾驶与保险公司合作,会从技术上改进商业模式,可以解决骗保问题,有望让空间巨大但让保险公司头疼的车险领域大爆发;而体育领域、精准医疗,同样属于迎合社会发展趋势且空间巨大的行业。 进入【新浪财经股吧】讨论相关的主题文章: