Strategic view in December 2021 & gold stock portfolio
Strategic perspective
Strategic view
Considering the background of downward fundamentals, relatively abundant macro capital and neutral and cautious sentiment, the systematic risks and overall opportunities of the A-share market are small, and the upward space of index trend is limited, but the market does not lack structural market, so we can focus on the investment opportunities brought by industry rotation and hot topics. Focus on the setting tone of the central economic work conference in December, as well as the specific direction and strength of support for the industry.
Industry configuration:
(1) Continue to focus on the key directions of new energy vehicles, such as middle and upper reaches, photovoltaic, high-end equipment manufacturing, semiconductor, military industry and so on
(2) Combined with the cost performance of individual stocks and the leading attributes, the left layout is appropriate, and gradually intervene in the undervalued and slow repair sectors such as communication, household appliances, medicine and securities companies
Risk warning: the new covid-19 strain spread widely; The multi-point spread of the epidemic in China affects the repair of follow-up service industry and consumption; Changes in industry regulatory policies; China's economic data fell sharply; Sino US friction escalated again; The strength of China's macro policies did not meet expectations, and the macro liquidity was greatly tightened; The Federal Reserve tightened monetary policy more than expected; The progress of vaccination is not as expected, etc
