中国市场策略 - 市场确认了一个重要的拐点

Categories: General Market Analysis, Financial Analysis

Country or region: China

Summary:
交银国际董事总经理研究部负责人洪灏, CFA 认为,CPI波动性>PPI,企业定价能力弱。估值扩张比盈利增长更能解释中国股票回报,择时比选股重要。历史上,MZM增速低点对应A股的重要拐点。随着美联储转鸽,这次拐点的确认和《峰回路转》对上证2450重要性的讨论一致。尽管筑底一波三折,长期趋势仍重于短期波动。 This research appears on WeiXin's blog "Hong Hao China Strategy" on 21 March 2019. This article qualifies for 0.5 CE credits under the guidelines of the CFA Institute Continuing Education Program. We encourage CFA Institute members to login to the CE tracking tool to self-document these credits.   ......


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