［11月9日］美股指数估值数据（全球股市下跌，原因为何；美股会有长熊市吗；全球指数星级更新）

Group 1 - The global stock market experienced an overall decline this week, with the US market down by 1.59% and other global markets down by 0.58% [3] - The Asia-Pacific region saw significant volatility, particularly with declines in South Korea and Japan [4] - Chinese assets remained relatively strong, with the A-share CSI All Share Index rising by 0.63% for three consecutive weeks [6] Group 2 - The Hong Kong stock market outperformed the A-share market, with the Hang Seng Index increasing by 1.29% this week [7] - Chinese assets are currently valued slightly lower than the global market average, providing a degree of protection against potential downturns [8] Group 3 - Market fluctuations this week were primarily driven by uncertainty regarding the Federal Reserve's potential interest rate cuts in December [9] - The Federal Reserve did lower rates in October, but the decision for December remains uncertain [10] - Long-term expectations suggest that the Federal Reserve will continue to lower interest rates [11] Group 4 - The US stock market reached a high valuation at the end of October and early November, marking the first instance of overvaluation in the past year [12][13] - Following this, the Nasdaq 100 and S&P 500 indices have seen a valuation correction, returning to a normal but slightly elevated level [14][15] Group 5 - Current valuations in the US stock market are not particularly low, but they do not indicate a significant bubble [16] - Historical comparisons show that the Nasdaq's valuation during the 1990s internet bubble exceeded 100 times, whereas it currently hovers around 30 times [17] Group 6 - There are two types of bear markets: one occurring during economic recessions with slow or declining corporate earnings, and another during periods of normal economic growth with short bear markets [18] - The US stock market has experienced long bear markets following the bursting of bubbles, such as the 2000 internet bubble and the 2008 financial crisis [19][20] Group 7 - Despite the potential for future economic downturns and long bear markets, the US stock market has shown relatively good earnings growth in recent years, primarily experiencing short bear markets [24] - Current valuations in the US stock market are not low enough to present significant buying opportunities [25] Group 8 - A global stock market star rating chart indicates that the market was undervalued during previous periods in 2018, 2020, and 2022, with current ratings around 3.0 stars, suggesting a relatively low valuation [27] - The global stock index can be accessed through various funds, although there are currently no global stock index funds available in mainland China [29] Group 9 - The company has launched a "Global Index Advisory Portfolio" that diversifies investments across US, UK, Hong Kong, and A-share indices to track the global stock market [30] - There are limitations on the purchase amounts for overseas market funds, typically capped at around 100 yuan [32] Group 10 - A new edition of the book "The Long-Term Investment Secret" has been released, which has been influential in the investment field for over 30 years [35] - The book emphasizes that stocks are the best long-term investment vehicle and provides extensive data on asset class returns over the past two centuries [36]