Currently, the Shanghai Composite Index is 3000 points in the bottom area. Looking back in the next few years, you will find that it is so close to the bottom at the moment.
The current valuation of the Shanghai and Shenzhen 300 is about 11 times, while it was about 10 times when it fell to the extreme level in 2018. Although it is slightly higher now, the current Shanghai and Shenzhen 300 component is very different from 2018. The main change is that the proportion of banks has decreased and the technological content has increased. The current Shanghai and Shenzhen 300 has higher gold content and its valuation is lower.
's current interest rate level is much lower than in 2018. Taking the 10-year Treasury bond yield as an example, it was about 3-4% in 2018, while it is currently between 2-3%. If the stable yield decreases, funds will naturally flow slowly to stock markets with higher yields.
In addition, there are many stocks, , which currently have dividend yields of more than 10%, and there are many stocks with dividend yields above 5%. The degree of this high dividend is far greater than in 2018.
So, it is highly likely that it will be the bottom area in the next few years, and the investment opportunities are far beyond 2018.
It should be noted that although it can be confirmed that the current period is the bottom area, it cannot enter the entire warehouse. Because anything can happen in the stock market. When market sentiment deteriorates again, market may still go down again, and the possibility of falling below 2,800 points cannot be ruled out. Even if there is a sharp drop, it may be quickly pulled back.
There is nothing absolute in the stock market. Rational investors only make rational investment decisions from the perspective of high probability of winning, rather than making absolute judgments.
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