Li Jun, the Shanghai Gold Exchange expert advisory members; Ho Chen, Department Director Lee asset investment, a typical representative of Public-private transfer. Yesterday, Chengdu Branch of China Everbright Bank to listen to organizations master lecture held in Chengdu, the two styles of talking heads appear on the podium.
Although the topic of conversation be different, but two of the confidence of the investment in the future. Jun Li convinced that gold will at least gain a further 10 years; Ho Chen argued that A shares expected to reproduce the systematic from 2006 to 2007, chances are unlikely, only to find institutional investors the opportunity.
RMB internationalization decision would increase gold
June 19, the central bank announced further promote the reform of RMB exchange rate formation mechanism, enhance the flexibility of RMB exchange rate. This is the market seen as an important step in the internationalization of RMB.
"Internationalization of the Renminbi, the gold will be doomed to rise." After a lapse of eight years, Li Jun Rong investors once again appear in front of his current status is the most important member of Shanghai Gold Exchange expert advisory.
Eight years ago, Li Jun debut in Chengdu, was closed to the media, "China's first exchange of God" title, then he that is a hot topic in foreign currency speculation. "RMB exchange has not changed, many people are keen on foreign exchange speculation," Li Jun said that after the exchange rate reform in 2005, foreign exchange investment has been very difficult to become investment hot spots, will be replaced by gold.
10 years ago, the international spot price of gold is more than 200 U.S. dollars an ounce; five years ago, is more than 400 U.S. dollars; today, is more than 1200 U.S. dollars. Li Jun said that participation in gold investment, in addition to the portfolio, especially for the needs of the market itself.
He pointed out that the internationalization of the yuan to become a reserve currency, and must be based on gold reserves. At present, about 1,100 tons of gold reserves, Li Jun said that he has senior people from the Shanghai Gold Exchange was informed, at least our gold reserves to 4,000 tons, to allow the RMB internationalization. This means that China's holdings of gold possible.
Not only that, including India, Russia, South Korea, and holdings of gold reserves, "between supply and demand will directly push gold higher." Li Jun said that the yuan could become an international currency in 2020, a hidden meaning behind this is that "Gold will rise at least 10 years."
The future of technology and private investment spending is key
Li Chun, passionate style and very different from Shanghai willy Asset Management and Chief Investment Officer, General Manager Ho Chen should be prudent lot. In his own words, "I am better than Li (Jun) teachers may be more rational."
Ho Chen said that China's economic growth model is from a resource-driven to innovation-driven change, which will determine the industry's long-term trends in resource allocation. Experienced a bull market years of 2006,2007, and 2008 after the crash, the stock market entered a period of adjustment.
Ho Chen said, A 股 market Yi did not have systematic opportunities, which are easily reproduced Bu Hui Du Shang Zhang Zhi Gupiao the criteria, and Zhihui You structural 机会, "They will exist in the technological innovation, consumer services."
2010, the Government stressed the need to focus on resolving employment, housing, social security, medical, public health, livelihood issues, to improve the residents quality of life. In the private equity fund, it seems, to guide the implementation of these policies will help eliminate the worries of the people to enhance their desire for consumption, "consumption growth in China will reproduce the history of Japan and Korea."
Ho Chen pointed out that the consumer is imminent in the people, the consumer valuation of listed companies are at historic lows, leaving sufficient for their living spaces, such as Suning Electric, Maotai, Haier, Tencent and other stocks.
Meanwhile, in the resource-driven to innovation-driven model transformation, the new energy industry, there are great investment opportunities, the building energy-saving materials, electric vehicles, smart Dian Wang, photovoltaic.
In yesterday's speech, as a private equity fund managers, not too much to talk about how shock index, he has passed his investment philosophy teams. He stressed four principles:
First, the target must have adequate margin of safety. This is the most important of all stock selection must comply with the conditions.
Second, we must make sure to identify the money, that is, the probability of the event bigger.
Third, as far as possible to shorten the waiting period profit, which is selected as the intervention point (wait catalyst appear).
Fourth, the systematic risk of the view that the head to avoid the large level, other levels of adjustment can be adjusted and shareholding position to reduce the risk of structural adjustment.
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