I hope that some experts who are proficient in this will answer a few questions about stock selectio

You have to have a general direction, such as environmental protection, IT, or consumption, so that the scope is much smaller.

How much money do you have, you can't buy some of each **, or you should concentrate on the direction.

You don't have to look at all the financial data, but you mainly look at a few items.

Everyone's habits may be different, but I look at the cash flow from operating activities, whether dividends are paid every year, and the proportion of dividends.

Individuals are not inclined to fundamental stock selection and engage in technical analysis. Personally, I always think that technical analysis is good for reference to the news, and it is a better way to select stocks. Personal opinion, hope for reference.

For some stocks, the fundamentals are bad enough, but combined with the end of the analysis and the recent policy, the fundamentals are directly put aside, like 600728 Jiadu Xintai, the fundamentals This Friday's news involved in private banks, and then pulled the limit, the early stage has been sideways for several months, and it has more than 50 million large orders on September 30, the last trading day before the holiday. The week after the holiday season is the time to step in decisively.

Hello, first of all, I want to tell you that the financial statements are not very useful, the reason is that the practice of financial statements is not particularly strict in China, for example, the company's product sales revenue in the statement is very large, some companies as long as the goods are shipped regardless of whether the money arrives or not will be credited to the product income, some are sent to the money received before it is counted, and some are only the orders are recorded in it, so the finance of Chinese listed companies can not be seen, if you want to learn the fundamentals of stock selection, it is recommended that you take a look, Bide, Lynch's book and O'Neill's book, as long as you can understand it, can basically learn what you should pay attention to in fundamental stock picking.

Fundamental stock selection is a big concept, and there are many methods in it, generally speaking, the more formal way is from top to bottom, that is, from macro to industry to company, and it is not as long as it is fundamental stock selection must look at the financial report. Also, tools are very important, such as database data.

**Generally divided into junk stocks and high-performance stocks (compiled from China Securities Network).

Junk stocks: 1) Generally refers to stocks with very poor performance, so the profit is very low or even negative. Therefore, the value of junk stocks mainly depends on what assets the company can realize, and the reason for the high P/E ratio is mainly that the performance is too low, even if the stock price is only 1 yuan, if the profit is only a few cents, the P/E ratio can be close to 100 times.

2) Junk stocks, the company also has assets, these assets even if converted into replacement cost has a certain amount, so when the market is pricing, the stock price can only be set at the value of the company's realizable assets, which is similar to the net assets, so the price-to-book ratio is low.

High-performing stocks: 1) Stocks with good performance have relatively high profits per share, and the market pricing is determined by performance estimates, which can be understood as the market "buying profits". For example, a 10x P/E ratio can be seen as a 10-year return on investment, and the stock price will be determined by the market's estimate of future profits.

2) Stocks with good performance also have a characteristic, that is, the asset utilization rate is high, that is, the benefit of the unit net assets is large, so the return on net assets is high. Due to the high return on equity, investors do not buy static assets, but buy net assets on the basis of net assets. For example, if the return on equity is 20%, then the net assets will double after 4 years, and the stock price will also double under the same price-to-book ratio.

In fact, the general one is to select ** by looking at the technology first, and then look at the fundamentals and then confirm it. You can start by familiarizing yourself with a small number of classics** and then expand them slowly. Try to find those who are leading in the industry.

I think it's complicated. After all, financial statements aren't necessarily true either. So I personally prefer the technical side.

It depends on which industry you like and which industry you know, and if you are familiar with it, you can study an industry.

Fry **, how do you choose? That thing, don't dare to touch it. Same as minesweeper.

Such as environmental protection, IT, or consumption

Fundamental stock picking, first from top to bottom, followed by bottom to top.

What do you mean? The former is to choose the industry first, and then choose **, and the latter is to choose**. And only after the ** and the company's selection are determined, will the selection and research of financial indicators be entered.

The choice of industry varies greatly under different economic cycles and different valuation levels. Specifically, there is a Merrill Lynch clock, you can go, and the well-known content is not here.

My habit and thinking are to make industry choices at the beginning of each year according to the degree of benefit and certainty of different industry cycles in the economic cycle, as well as the level of growth rate

Take an example of the process of the complete operation of the industry:

For example, the lithium battery industry at the beginning of 15 years, at the beginning, the choice of the market is the battery company, its typical representative is Guoxuan, and by the end of 15 years began to enter the upstream battery industry, to the largest dark horse and continues to this day is the upstream lithium and cobalt industry. Why?

Because in the early stage of the theme, the market can not judge the order and degree of the benefit of the industry, the theme of hype and profits began to cash in is the finished battery company and industry, therefore, the market first from the finished battery to start the theme of speculation, from the perspective of valuation and performance growth, at that point in time is indeed right, with the development of the industry, especially after the national subsidy has become the largest profit model in the market, the market has passed the industry from the concept to industrialization, and then the industry began to enter the overheating stage, Then the essence of the battery industry or congenital deficiencies began to gradually expose, for example, the lack of technical advantages and patent advantages of domestic battery companies, at best it is an assembly industry model, although the products between the secondary enterprises and other enterprises can not be said to be very different, but the difference is indeed not as big as everyone imagined.

In addition, the standards and subsidies of the national subsidy are in place and the controversy of the national subsidy in 16-17 years continues, and the consequence is that the battery companies are facing funds being squeezed by vehicle car companies, and the cash flow is deteriorating, which also exposes the essence of the battery companies mentioned above is just an assembly industry. After the market size goes up, the more upstream, such as lithium cobalt, electrolyte, separator, module, the higher the profit, the better the cash flow, especially lithium cobalt, which is basically an advance payment, and the worst is cash on delivery, and there is no cash flow crisis at all, unless your company's own expansion management is out of control and brings cash flow risks. Therefore, the bull market represented by Tianqi, Zhufeng, and Huayou Cobalt began to show strong rigidity because of the upstream resource nature, bringing huge profits and constantly being strengthened.

The case I gave is a good illustration of his logic of top-down stock selection and bottom-up stock selection. The relationship between changes in different economic cycles and industrial cycles is a dynamic change.

In fact, we can go to the market to do a survey, and then have a certain understanding of **, so that if we buy again, it will be much simpler, and there will be a certain profit.

1. The trick of the growth cycle: Some people who have experienced the headquarters of the brokerage company and the most experienced cultural person like the method, because this kind of information needs to be familiar with listed companies or have the habit of research. In general, this kind of ** is technically easy to get out of the habit of the rising channel, if you find the trend of the rising channel, you should analyze whether the fundamentals of the stock have been improved.

2. The trick of expanding information: sometimes some listed companies have the possibility of expanding their share capital or expanding to advantageous industries, and this fundamental analysis should be used in the period before and after the announcement of statements and news.

The tricks used are the selection method, the screening method, the elimination method, the elimination method, the elimination of the completely meaningless **, the screening of the dead**, and the selection of the highest increase**.

Stock selection is generally through fundamentals and technical, the so-called fundamentals are some news, technical is the use of technical indicators to determine the current **, news because it involves all aspects, all need to select the news.

Market fundamental analysis mainly focuses on the research and analysis of the company from the fundamental factors, such as macroeconomy, industry background, business management ability, financial status, etc., trying to find out the "intrinsic value" of the company from the perspective of the company, so as to compare it with the market value and pick out the most valuable investment.

To determine the reasonableness of a company, we must first determine the company's expected dividends and earnings, and we call the method of analyzing value determinants such as expected earnings fundamental analysis.

Generally speaking, if a company's profitability declines in annual indicators, it is often a sign that the company's medium- and long-term operations have turned to a disadvantage. When the company's profitability declines, it is necessary to pay special attention to whether the company's scale has expanded and whether it can maintain the same total profit or net profit. When the company's profitability rises, it is generally necessary to eliminate the influence of accidental factors and seasonal factors, so as to judge whether the increase in profitability can be sustained.

Secondly, it is necessary to judge the quality of the company's earnings by paying attention to the company's profit composition, net profit margin and operating cash flow.

Financial situation The relationship between industry development prospects and policies The position of the industry.

Financial Status, Industry Status, Policy, Technology, and so on.

If you want to get a higher winning rate for investment, of course, you must have a comprehensive analysis of the market environment and the best bid, but I found that many partners do not know fundamental analysis, and I feel that fundamental analysis is not easy to learn and do not want to learn. In fact, it's very easy, today the senior sister will tell you how to do fundamental analysis, so that it will be easier to catch the **. Before you start, you might as well get a wave of benefits - the ** list selected by the organization is newly released, don't miss it when you pass by:

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After the industry is selected, we will then screen the companies in the industry, so we will mainly analyze two directions:

Financial statements: Understand the company's financial status, profitability, solvency, capital ** and use of funds, the main tracking financial data are operating income, net profit, cash flow, gross profit margin, asset-liability ratio, receivables, advance receipts, return on net assets, etc.

Product and market: The former mainly analyzes the company's brand, product quality, product sales volume and life cycle; The latter mainly analyzes the market coverage, market share and market competitiveness of products.

3. Advantages and disadvantages of fundamental analysis.

The content is said here, friends should also be able to feel the advantages of fundamental analysis, this set of analysis methods from top to bottom, very systematic, from macro analysis to meso to micro, can help us more clearly grasp the overall environment of the current market, can allow us to really find valuable companies. However, no matter what kind of analysis method, there are advantages and disadvantages. The disadvantages of fundamental analysis can also be seen at a glance, although the senior sister has tried her best to simplify the analysis content for everyone, but the real entry must also have a certain foundation.

The short-term transition fluctuation cannot be fed back in time through fundamental analysis, because in the short term, it may also be affected by investors' trading sentiment, according to the fundamental analysis, these cannot be seen. It may be difficult for Xiaobai to judge the quality of **, but it doesn't matter, I have specially prepared a stock diagnosis method for you, even if you are an investment Xiaobai, you can immediately know the good and bad of a**: [Free] Test your **current valuation position?

Some people's fundamentals are flickering, although this is biased, but it is not unreasonable, a** There is thunder everywhere on the field, white horses may become black swans in an instant, and salted fish may also become stars in the blink of an eye。A lot of ** fundamentals are not what we outsiders can really understand, and the channel we understand ** is through the ** release of the financial report, as the saying goes, good eyes are not necessarily believing, and there is a question mark about how reliable this thing is.

Of course, there are so many really good fundamentals in the market, but this is basically meaningless for the investment in the A** field。It is an indisputable fact that the a** field pays attention to the wind outlet rather than the fundamentals, and no matter how good the fundamentals are, you may be able to return to the original place for 10 years, which is an indisputable fact, and the garbage is flying all over the sky is the main theme of A shares in the past few decades.

Relying solely on fundamentals is too limited, and there is no capital to pay attention to, and perhaps the bank interest will not be able to run through the bank interest in a lifetime。It is not reliable to rely solely on technical stock selection, and maybe it will be thunderous that day. So stock selection must be combined:

Fundamentals, technicals, tuyere, capital. It is the best choice to choose the best choice with good fundamentals, financial attention, and ability to stand on the tuyere.

My personal stock picks focus on the trend technicals, then the fundamentals, and then around the 453 antenna, because there is a trend there must be funds in the speculation, there are funds to speculate that it may be the outlet, and the 453 antenna is the watershed of the bull and bear, the ability to break through the show is to start to strengthen, far below the 453 antenna to indicate that the ** is still hovering in the bear, no funds, no theme, birds do not, although the risk is low, but the long night does not know where is the end, most of them will fail because they can't stay up. In addition, far above the 453 antenna, it means that ** has left the initial bullish stage to accelerate or even the end, that is, the tuyere will pass. There is also a high risk of choosing this, and if the individual is not sensitive, it may be possible at any time**.

Everything in the world can not get rid of the fate of prosperity and decline, decline and decline, I do not choose the most declining nor the most prosperous, only choose the middle, because the middle of the explosive power is the largest, the shortest time, the highest efficiency.