Since Dukang made wine, wine culture has been throughout the entire development history of Chinese civilization. Li Bai wrote hundreds of poems while drinking, and half of the prosperous Tang Dynasty was recorded in his mouth; Song Jiang Xunyang Tower drunkenly wrote anti-poems, and the eight hundred miles of water witnessed the glory of the peasant uprising. Over time, liquor has become one of the most common consumer goods in our daily lives. Who doesn’t eat dumplings during the Chinese New Year, and who doesn’t eat dumplings without drinking wine!
So in the secondary market, if we choose to invest in liquor, is it better to choose first-tier liquor with a higher market value, or second-tier liquor with a lower market value? In order to explore this issue, we used big data to conduct systematic statistical analysis and observe the specific performance of large-cap liquor and small- and medium-cap liquor in the past five years.
The total equity is greater than 1 billion. Liquor strategy
The total equity is greater than 1 billion. Liquor strategy
Source: Aniu Intelligent Investment
For the liquor sector, we select stock selection factors with a total equity greater than 1 billion, and carry out stock exchanges according to the financial reporting cycle. On the basis of excluding the blacklist and ST stocks , 3-5 stocks are selected from large to small according to the stock score, and 5-year periodic backtesting is carried out. The results are shown in the figure above. The liquor sector has increased by 371.21% in five years, which is far more than the cumulative increase of the mid-cap market in five years. However, the large-cap liquor strategy with a total share capital of more than 1 billion has a cumulative increase of 318.32% in five years, which is 318.32%. Underperforming the comprehensive cumulative increase of the liquor sector.
The total equity is between 200 million and 1 billion. Small and medium-sized liquor strategy
The total equity is between 200 million and 1 billion. Liquor strategy
Source: Aniu Intelligent Investment
Similarly, according to the above method, we set the value of the total equity factor at In the range of 200 million to 1 billion, the change in this result is very obvious: as shown in the figure above, the cumulative increase of the five-year cyclical backtest of the small and medium-cap liquor strategy reached 600.57%, and the cyclical annualized return reached 47.57%. The risk return The rate is as high as 1.20; the comprehensive performance of the strategy is much higher than the 5-year cumulative increase of 371.21% in the liquor sector.
From this we can conclude that the comprehensive income of investing in second- and third-tier small and medium-cap liquors is better than that of first-tier large-cap liquors. We can also make appropriate reference when choosing to invest in liquors. The first-line liquor market is too large and the relative price is also high. It is also difficult to continue to have obvious rising performance.
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Disclaimer: The stocks, industries, markets and other securities involved in this article are for reference only and do not constitute any buying and selling advice. No investment returns are promised. Investment is at your own risk! I and the company do not bear any investment risks and responsibilities! Hereby declare! The stock market is risky, so be cautious when entering the market.
Zhao Yuanyuan’s practicing certificate number: A0460121050003, Aniu Intelligent Investment business license: 91370100724977116F.
