First of all, you should fundamentally understand that there is no value investment in China stock market, only speculation-the best example. As you can see, since the establishment of China stock market, several stocks have paid more dividends than financing.

Secondly, under the conditions of the above conclusions, we think that a stock market that does not require dividends is just speculation, that is, the price difference is often said, just like playing with parcels.

Next, you should be able to think that the only thing that can determine how far this flower can bloom is the size of admission funds.

Below you can analyze the flow of funds by yourself.

1. The central bank injected liquidity into the market and banks lent on a large scale, which increased the amount of funds in the whole market.

2. The low interest rate of banks and the large-scale issuance of bonds by the state have laid the foundation for future inflation. Forward bonds have fallen, and residents are forced to invest in order to protect their property from future inflation (I am one of them, and the recent increase is ok, but we must keep a clear head). In China, there are not many types that ordinary investors can invest in, and the future of the property market is uncertain. Because of its special trading mechanism, the futures market is risky (two-way leverage) and the participation of ordinary residents is small. Only the stock market can best mobilize the enthusiasm of these funds.

3. In the current export environment, do you think those export enterprises will invest money to expand production after getting loans? There must be a considerable amount of funds flowing into the stock market through various channels (there is no doubt that enterprises with the ability to make false accounts can certainly do this, and it is difficult to fully supervise).

Based on the above points, I think the stock market can go higher when the property market is unknown, the export environment is further deteriorating and the amount of bank loans is further increased. Money always has a place (consumption? That's impossible. So I'm not worried about my current stock at all, not because my stock has more investment value, but because the funds are pushing up now.

In addition, the worst loss I made (more than all my other losses combined) was that I was eager to try and stupid enough to believe in the so-called value investment and long-term investment concept.