The stock market is only relatively cheap among CN assets, but all CN assets are downside assets, and they will fall at a glance.
With the aging population, the potential return is declining every day, and the so-called alpha is not enough to kill the valuation of the long-term prospects.
If the 3,000-point stock market is priced in gold, it will only fall in the future, and the longer the time, the more certain it is.
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