Today's A-shares didn't fall much, and if you don't compare it with the outside world, you'll think it's okay, but...
It was all red, and the green one in the upper left corner. Similar situations have occurred many times this year. Today, there was another green one in Europe. Looking closely, it turned out to be Russia. It is indeed a good friend.
What makes people feel most helpless is that the Hong Kong state-owned enterprise index rose today, +1.29%, which is full of mainland companies listed on both the A-share and Hong Kong stock markets. This is really the modern version of "If you are born in the south of the Yangtze River, you will be an orange, and if you are born in the north of the Yangtze River, you will be a tangerine." The difference is that the river mentioned by Yan Zi when he was sent to Chu was the Yangtze River, and now it has become the Pearl River.
Why does the same company rise in Hong Kong but fall in A-shares? This is obviously the difference in liquidity between different markets. Hong Kong stocks have shown signs of recovery, affected by the large-scale monetary easing overseas, while A-shares are still in a state of low confidence and liquidity withdrawal.
Many stockholders left messages asking me to say more to encourage people. After all, the current market is at a historical low, and in the long run, it is a high-cost-effective entry area. In fact, I have said similar things many times in the past two or three years. I have drawn the pie again and again, but it has not been fulfilled in the end. There has been a serious rebound sentiment. You don’t know that now, if I just say a few good words about A-shares, or encourage everyone to hold on, hope is ahead, etc., I will be cursed viciously in the background, and I will be cursed by my family.
I can directly feel the deep hatred these investors have for A-shares, and I can understand that, so I am now avoiding writing and will not bring bad luck upon myself again. Whoever is optimistic about A-shares can support them, and I will just describe them objectively, and I am not willing to express my opinions.
I used to say that one of the social responsibilities of big Vs is to be scolded and help stockholders vent their emotions. In fact, who likes to be scolded? It’s just that I could make some money from A-shares in the past, and I was scolded for taking advantage. Now I have no benefit at all, and the financial calculations related to A-shares are still negative, so I just lie down and do it, that’s it.
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I'm not in Linhai today. I made an appointment with my friends to hang out. You can see the IP released. It went to Nanjing, Jiangsu.
You all know that I like to read history. Nanjing was a city that was the capital many times in ancient times, so it has always been known as the ancient capital of ten dynasties. But if you delve into the fate of those ten dynasties, you will find that it was really very bumpy.
The first dynasty was the Wu Kingdom during the Three Kingdoms period, which was eventually conquered by the Jin Kingdom in the north.
The second dynasty was the Eastern Jin Dynasty, which was a regime that hastily moved south after the Western Jin Dynasty was destroyed.
The third dynasty, the Southern Song Dynasty, usurped the throne from the Eastern Jin Dynasty.
The fourth dynasty, the Southern Qi Dynasty, usurped the throne and established the Southern Song Dynasty.
The fifth dynasty, the Southern Liang Dynasty, usurped the throne from the Southern Qi Dynasty.
The sixth dynasty, the Southern Chen, usurped the throne from the Southern Liang and was then conquered by the Sui Dynasty.
The seventh dynasty, Southern Tang, a local regime, was conquered by the Northern Song.
The eighth dynasty, Zhu Yuanzhang established the capital in the early Ming Dynasty. However, he was usurped by Zhu Di shortly after his death and the capital was moved to Beijing.
The ninth dynasty was the Taiping Heavenly Kingdom, which was later conquered by Zeng Guofan and the city was massacred.
The tenth dynasty, the Republic of China, was occupied by Japan during World War II and the city was massacred.
I feel that this city lacks royal aura and has a bad fate. It was either a local regime in a corner or a short-lived dynasty. It was either conquered or usurped. The common people suffered a lot. There are records of the city being massacred many times.
Sometimes you have to believe in fate, feng shui and other things. Nanjing just doesn't believe in evil. It was the capital ten times, and it was broken ten times. Readers from Nanjing should not be angry after reading this. These ancient histories have nothing to do with you. It is almost impossible for the real natives of Nanjing to survive so many catastrophes in history. The current Nanjing people mainly migrated here after World War II, so the past history is just a story.
I have also thought about why the dynasties that established their capital in Nanjing did not have a good ending. There are several main reasons:
1. The terrain in the south of the Yangtze River is flat and lacks favorable terrain for defense.
2. Lack of grassland pastures, and strategic materials such as war horses.
3. In ancient times, the people of Jiangnan were extravagant and decadent. They were good at studying and taking exams, but not good at fighting.
4. Jiangnan is mountainous and its population is not as dense as that of the northern plains, so its war mobilization capabilities are poor.
5. There is no kingly way. Since ancient times, the legitimate political power has been inherited in the Central Plains, and the south of the Yangtze River lacks foundation.
Since ancient times, the orthodoxy of Chinese civilization has been in the Yellow River Basin. It was only after the reform and opening up in the past 40 years that the economy was dominated by maritime trade and it developed towards the southeast coast. However, even so, Nanjing's locational advantage is not very obvious. Not to mention that it cannot be compared with Shanghai in the lower reaches of the Yangtze River, even those troublesome younger brothers in the province are not convinced.
In the past few years, there is a popular saying among us stock traders: investment is limited to the territory of the Southern Song Dynasty, and it is not possible to invest further north. From the perspective of economic development, this statement makes sense, but I think that if our country encounters the challenge of invaders again, we may have to rely on our compatriots in the north to defend our country. It may be a bit risky to rely on us southerners who are good at making money.
I visited Nanjing last year and visited Sun Yat-sen Mausoleum, Niu Shou Mountain, and Jiangsu Museum. This time I plan to visit the Presidential Palace and Ming Xiaoling Mausoleum. I will share my travel notes with you later. Actually, the place I stayed this time is also very interesting, but for some reasons it is not convenient to share it on the official account.
That's all for the small talk. Today's Olympic semifinal between the US men's basketball team and Serbia was so exciting. The Serbian guard shot three-pointers like crazy. If it weren't for the explosive Curry who turned the tide, James would have won the bronze medal again.