Cai Jinqiang, former chief China strategist of Citibank, president and investment director of Olu Capital, has won the best analyst of "Institutional Investor" for nine consecutive years.
In June of this year, he launched his new book "Upstream and Upstream-Investment Psychology". In addition to explaining his investment psyche, he also mentioned the top ten gold stocks!
Cai Jinqiang emphasized that the investment portfolio must be "hot and not hot". There are companies that are favored by the market, and there must be some value stocks that no one cares about.
He even stated in mid-July, "If there is a stock market crash, it will be the case." But if you hold value stocks, you don't need to rush to retreat.
"Champion Analyst" Cai Jinqiang's new book this time has repeatedly studied and integrated different major industry reports, carefully selected and analyzed the "top ten gold stocks", which covers technology, new energy, semiconductors, luxury goods, precious metals, etc. Plate.
The "top ten gold stocks" commented by Cai Jinqiang are all leaders in the industry. Are they "big is beautiful?" He said in an interview with "Hong Kong 01", "If you choose the best sector, you will not be able to choose the leader. Chicken!" Although the leading stocks may not be the one with the most returns, they have also seen impressive gains.
Among them, the Ningde era, which is listed on the A-share market and one of the "top ten gold stocks," has risen by 60% to 70% during the year.
Cai Jinqiang pointed out that since many long-term funds currently have no positions in the Ningde era in the top ten positions, they are more optimistic that they still have room for growth in the future.
(Ningde Times official website)
Long-term funds lack "new white horse stocks" and still have room for growth
Although "stock kings" such as CATL and TSMC have risen a lot during the year, Cai Jinqiang believes that this batch of "white horse stocks" still has the ability to continue to rise in the next one or two years, rising by another 30 or 40%. It’s forever, but it’s never too big a year."
In addition to the leading position of the Ningde era in battery production, the reason Cai Jinqiang has confidence in it is that many long-term funds currently have no positions in the top ten positions of the Ningde era, and most of them still hold Tencent (0700) and Ali ( 9988), Pingbao (2318), AIA (1299), etc.
"As long as CATL drops 10%, long-term funds will enter, so every time it adjusts a little, it will rebound by more than 10% if it falls back 5% to 10%."
Then when is the time to leave?
Cai Jinqiang said that as long as a new batch of white horse stocks begin to appear in the top ten positions of long-term funds, "basically what you see is in stock", the next step is for the company to achieve its own growth. As long as its growth target is reached, the fund will take advantage of it. Good news shipments began to gradually lighten up.
Cai Jinqiang emphasized that the investment portfolio should have both the old and the new economy, describing the situation as if "you have to eat meat and vegetables."
(Photo by Luo Junhao)
Both the old and the new economy "eat meat and vegetables"
Although the carbon neutral plan is the flow of the great era, among the "top ten golden stocks" that Cai Jinqiang commented on, there are not only the new energy sector, but also the oil stocks represented by the old economy.
"No conflict, you have to eat meat and vegetables!" Cai Jinqiang took this year's sector rotation as an example. The new economy trended strong from January to March, and after the ten-year US Treasury bond interest rate soared, the old economy took the lead.
Therefore, he emphasized that it is difficult for investors to fully lean towards the old and new economies, and can only adjust from the "82 ratio" to the "64 ratio".
Therefore, Cai Jinqiang also included CNOOC (0883) in the "Top Ten Gold Stocks".
He pointed out that when oil prices fell to zero last year, CNOOC was able to make 25 billion yuan last year, and is expected to make more than 30 billion yuan in the first half of this year. "This company makes a lot of money."
In addition, Cai Jinqiang believes that CNOOC pays a dividend of 6.7% every year, which is quite stable. He emphasized that "investment must have a main line, but it can not be too biased. You must keep one hand."
Hong Kong stocks fell by more than a thousand points for two consecutive trading days at the end of July. Cai Jinqiang has previously revealed that "the stock market crashes just as soon as possible."
(Photo by Yu Junliang)
There is no need to retreat from the crash of value stocks
In addition to the mix of old and new economies, the "top ten golden stocks" are the combination of yesterday's white horse stocks and today's kings.
"Moutai, Tencent (0700), Meituan (3690) are in the past tense, CNOOC, Weichai (2338), Zijin (2899) are value stocks, Ningde, Bifu (6098), and Longji are in progress", Cai Jinqiang is convinced, Holding part of the value stocks in the portfolio can hedge against stock market crashes.
"The stock market crash is not impossible. Just talk about the stock market crash. You have to retreat. There are some (value stocks) who want to retreat." Cai Jinqiang was interviewed on July 21, and the HSI was only three months later. The violent diarrhea exceeded 2,600 points during the day.
Many of the "top ten gold stocks" have gained a lot in the past period of time, but they are not investors who are very knowledgeable and have high valuations.
Cai Jinqiang bluntly said that it is very difficult to find "ten times stocks" and "100 times stocks", but he believes that there are relatively more opportunities for A shares, and he is particularly optimistic about the cyber security sector.
"Cyber security is a major trend in the future. Many Hong Kong people have misunderstood that the Communist Party wants to control you, but in fact, cyber security is very important." Cai Jinqiang gave an example that the security of AI autopilot systems is very important. Will pose a danger.
He bluntly said that Hong Kong does not have this type of shares, but there are many opportunities for A shares. As long as investors pay more attention to the Growth Enterprise Market, they will find many interesting companies.
"It is the A-share GEM, the Hong Kong GEM is a joke!"
Interview with Cai Jinqiang｜Dismantling the mystery of strong central supervision, Xiao Jinren sighed: I don’t even want to play Hong Kong stocks!
