At present, my country’s monetary policy is still loose, so there will be no full-scale bear market in A shares!
The coexistence of structural bear markets and structural bull markets may remain the norm going forward.
The stocks that have been blown away from the support of fundamentals (the stock price has skyrocketed n times, the valuation is extremely high, and the growth rate does not match the valuation (1peg)), where is their decline?
I have communicated with many friends. The bottom line is not how much it falls. It depends on dividends and peg. When does peg < 1 , or the dividend yield is about 2 times the long-term fixed deposit rate , it is almost bottoming out. For the hype mentioned above, it is entirely possible for many to fall by 80-90%.
Dividend yields are support levels for many stocks!
This is also the reason why I have always adopted the strategy of “undervalue + dividend + growth”. Even if the stocks I hold encounter a black swan, the dividend yield determines that the downside of the stock price is limited, because if it falls more, the dividend yield will be higher. , the greater the long-term holding value , the more worthy of bottom-hunting or long-term holding.
The current three-year fixed deposit interest rate is around 2.5%, so the dividend yield of most stocks is around 5%.
$China Merchants Bank(SH600036)$ $BYD(SZ002594)$
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