长期投资

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证监会:持续巩固资本市场回稳向好势头
Di Yi Cai Jing· 2025-08-29 12:00
Core Viewpoint - The China Securities Regulatory Commission (CSRC) is accelerating the reform and opening up of the capital market to enhance its attractiveness and inclusiveness, in line with the directives of the "14th Five-Year Plan" and the upcoming "15th Five-Year Plan" [1][3]. Group 1: Capital Market Reform and Development - The implementation of policies such as the "New National Nine Articles," "Science and Technology Innovation Board Eight Articles," and "Mergers and Acquisitions Six Articles" has led to a noticeable improvement in market fundamentals and increased confidence among market participants [2]. - Experts emphasized the need to establish a multi-tiered capital market system, deepen institutional reforms, and enhance market functions to support long-term capital inflow [2]. - The CSRC aims to strengthen legal frameworks in key areas such as stocks, bonds, derivatives, and cross-border regulation, while also intensifying efforts to combat financial fraud and market manipulation [2]. Group 2: Strategic Planning and Future Directions - The "15th Five-Year Plan" period is seen as crucial for achieving socialist modernization and high-quality development in the capital market [3]. - The CSRC plans to consolidate the positive momentum in the capital market and promote comprehensive reforms in investment and financing to enhance market appeal [3]. - The involvement of experts and scholars is encouraged to leverage their expertise in addressing strategic and foundational issues in the capital market [3].
证监会主席吴清:持续巩固资本市场回稳向好势头
Zheng Quan Shi Bao Wang· 2025-08-29 11:58
Core Viewpoint - The China Securities Regulatory Commission (CSRC) is committed to implementing the "14th Five-Year Plan" for the capital market, focusing on high-quality development and enhancing market attractiveness and inclusivity [1] Group 1: Capital Market Strategy - The CSRC will deepen comprehensive reforms in investment and financing as a driving force for the next round of capital market reform and opening up [1] - Emphasis will be placed on advocating for long-term, value, and rational investment philosophies [1] Group 2: Research and Collaboration - Experts and scholars are encouraged to leverage their professional strengths and utilize the platform of the China Capital Market Society to enhance research on significant strategic and foundational issues in the capital market [1]
新华保险回应鸿鹄基金最新进展:二期基本完成建仓 三期7月启动进展顺利
Xin Hua Cai Jing· 2025-08-29 11:56
对于鸿鹄基金进展,新华资产管理股份有限公司总裁陈一江表示,试点基金共三期,三期基金7月初开 始启动,目前进展顺利。公司计划累计出资462.5亿元。从投资的方向范围来看,三期基金投资范围包 括,与中证A500指数成分股中符合条件的大型上市公司A+H股。标的公司标准包括治理良好、经营运 作稳健、股息相对稳定、流动性较好等。经过一年多实践,投资团队在标的股票选取能力上得到了长足 进步。 (文章来源:新华财经) 新华财经北京8月29日电(记者张斯文)新华人寿保险股份有限公司于29日在京召开2025年中期业绩 会。新华保险管理层表示,公司坚定看好中国经济,充分发挥保险资金"长期资本、耐心资本"优势,坚 持长期投资、价值投资和稳健投资的理念,坚定服务实体经济,有力支持资本市场长期健康发展。 ...
证监会:持续巩固资本市场回稳向好势头,加快推进新一轮资本市场改革开放
Hua Er Jie Jian Wen· 2025-08-29 11:49
Group 1 - The core viewpoint emphasizes the need for the China Securities Regulatory Commission (CSRC) to implement high-quality planning for the capital market in line with the "14th Five-Year Plan" [1] - The CSRC aims to consolidate the positive momentum of the capital market and deepen comprehensive reforms in investment and financing [1] - There is a focus on enhancing the attractiveness and inclusiveness of the market while promoting long-term, value, and rational investment concepts [1]
史上最好中期业绩后,“券商一哥”高层有何新计划?
Hua Er Jie Jian Wen· 2025-08-29 09:36
同时,公司总资产达1.81万亿元,较上年末增长5.67%,归母净资产达3054.33亿元,较上年末增长 4.20%。 在这场业绩说明会现场,中信证券董事长张佑君、总经理邹迎光、会计机构负责人西志颖等核心高管悉 数出席,回应了各方投资人的问题。 资事堂将业绩说明会的内容要点整理如下,以飨读者。 谈及A股:韧性充足、活跃度提振 今年以来,中央强调要"持续稳定和活跃资本市场",我国资本市场改革不断深化,保险资金、养老金等 中长期资金入市机制更加完善,常态化稳市机制不断健全,服务科技创新与实体经济效能明显提升,上 市公司投资者回报力度不断加大。 8月29日上午,中信证券2025年半年度业绩说明会。 作为中国证券业"一哥",中信证券上半年业绩比较亮眼:实现营业收入330.39亿元,同比增长20.44%, 实现归母净利润137.19亿元,同比增长29.80%,创历史最好中期业绩表现; 股票成本:余额下滑源于永续债到期 有投资者问及,中信证券上半年其他权益工具投资和交易性金融资产投资中的"股票"成本余额均出现一 定下滑。 这家券商的高管回应称:2025年上半年,公司股票成本略有下滑,一方面是其他权益工具中 部分永续债持仓到 ...
时报观察丨加快权益资产配置 险资“长钱长投”效应显现
证券时报· 2025-08-28 23:59
Group 1 - The core viewpoint of the article highlights the significant increase in stock investments by listed insurance companies in China, with a total stock asset amount exceeding 1.8 trillion yuan as of June 30, marking an increase of over 400 billion yuan and a growth rate of 28.7% compared to the end of the previous year [1] - The combined amount of stocks and funds held by listed insurance companies has also shown rapid growth, with specific allocation ratios for major companies such as China Life, Ping An, China Pacific Insurance, and China People’s Insurance reaching 13.6%, 12.6%, 11.8%, and 10.7% respectively, reflecting an increase of 0.9 to 2.7 percentage points [1] - The increase in equity asset allocation by insurance companies is driven by two main factors: the low interest rate environment and new accounting standards, creating a real demand for increasing equity asset allocation [1] Group 2 - The policies introduced since last September, including the Central Political Bureau's call to guide long-term funds into the market, have effectively addressed the barriers to insurance capital entering the market, leading to a significant increase in investments [2] - The active participation of insurance capital in the market is expected to enhance its role as a stabilizer and ballast, promoting a trend towards long-term and value investing, which in turn supports the stable and healthy development of the capital market [2] - In the long term, the combination of a low interest rate environment and policies encouraging insurance and other long-term funds to enter the market is likely to lead to a continued increase in equity asset allocation by insurance companies [2]
时报观察 加快权益资产配置 险资“长钱长投”效应显现
Zheng Quan Shi Bao· 2025-08-28 17:58
上市险企的投资动向历来是市场关注焦点。截至6月30日,五家A股上市险企持有的股票资产金额超1.8 万亿元,较上年末增超4000亿元,增幅达28.7%,远超投资资产增幅,入市明显提速。 去年9月中央政治局会议提出"大力引导中长期资金入市"要求,《关于推动中长期资金入市的指导意 见》等政策相继落地,打通保险资金入市堵点成效显著,稳步入市成为险企投资布局时的共同选择。 险资积极入市,得以更大程度发挥市场稳定器和压舱石作用,并引导市场逐步形成长期投资、价值投资 之风,助推资本市场平稳健康发展。反过来,资本市场稳步向好,也让保险公司受益,两者呈现出良性 互动的局面。长期来看,在低利率环境和政策鼓励保险等中长期资金入市的背景下,保险公司对权益资 产的配置有望持续提升。 (文章来源:证券时报) 上市险企持有的股票和基金合计金额亦呈现较快增长。截至6月30日,中国人寿、中国平安、中国太 保、中国人保的股票和基金配置比例分别达13.6%、12.6%、11.8%和10.7%,上升区间为0.9个至2.7个百 分点。新华保险股票和基金配置比例虽较上年末减少0.2个百分点,但仍处历史和行业高位,达到 18.6%。 险资积极入市主要有两 ...
大牛市中,自己买的基金不涨怎么办?
雪球· 2025-08-28 13:00
Core Viewpoint - The article emphasizes the importance of maintaining a calm and rational investment approach during a bull market, highlighting that not all assets will rise and that individual investment strategies should align with personal risk preferences [5][16][18]. Group 1: Investment Strategy - Investors should regularly assess their portfolio structure to ensure it aligns with their true risk tolerance, especially during significant market changes [9]. - A mismatch between current market trends and an investor's portfolio can lead to underperformance, which is common in bull markets [12][13]. - Investors need to clarify their goals and strategies, avoiding emotional decision-making that can lead to confusion and poor outcomes [15][19]. Group 2: Market Behavior - Bull markets do not guarantee that all assets will appreciate; structural market conditions often dictate performance [16]. - It is crucial for investors to avoid being swayed by others' successes, as this can lead to impulsive decisions that deviate from long-term strategies [17]. - The article suggests that missing a bull market is not as detrimental as making hasty investments during market highs, which can lead to significant losses [18]. Group 3: Long-term Perspective - A slow and steady investment approach is recommended, focusing on consistent, moderate returns rather than high-risk, high-reward strategies [22]. - The accumulation of wealth over time through disciplined investment and life management is emphasized as a more effective strategy than chasing quick gains [24]. - The article concludes that ordinary investors should prioritize their life paths and resilience over mere investment success rates [26].
巴菲特再度出手:伯克希尔增持三菱商事,持股比例已超10%
Sou Hu Cai Jing· 2025-08-28 12:30
Core Viewpoint - Berkshire Hathaway's wholly-owned subsidiary, National Indemnity Company, has increased its stake in Mitsubishi Corporation from 9.74% to 10.23%, entering the list of major shareholders [1][3]. Group 1: Shareholding Changes - National Indemnity Company held 3,890,439 shares (9.74%) before the change and increased to 3,909,339 shares (10.23%) after the change [3]. - Following the announcement, Mitsubishi Corporation's stock price rose nearly 3%, positively impacting the Japanese stock market [1][4]. Group 2: Other Companies Involved - Berkshire Hathaway also increased its stake in Mitsui & Co., with a current holding of 9.82% as of March [4]. - Berkshire holds shares in all five major Japanese trading companies, including Marubeni Corporation, Itochu Corporation, and Sumitomo Corporation [4]. Group 3: Long-term Investment Strategy - Warren Buffett expressed a long-term commitment to holding shares in these Japanese trading companies for at least 50 years, indicating a strong belief in their value [5][6]. - As of the end of 2024, Berkshire's total investment in the five major trading companies was $13.8 billion, with a market value of $23.5 billion [6]. - Expected dividend income from these investments in 2025 is approximately $812 million, with interest costs on yen-denominated debt around $135 million [6]. Group 4: Historical Context - Berkshire first purchased shares in the five major trading companies in July 2019, initially attracted by their low stock prices [7].
市场涨跌变化,收益坐过山车怎么办?
银行螺丝钉· 2025-08-28 04:01
Core Viewpoint - Market fluctuations, likened to a roller coaster, are an essential part of long-term investing, and investors must learn to navigate these ups and downs [1][3]. Understanding Market Fluctuations - The concept of "Mr. Market," introduced by Benjamin Graham, illustrates the unpredictable nature of market prices, which can swing between optimism and pessimism [3][5]. - Investors with experience and psychological resilience are less likely to be swayed by these market fluctuations [4][6]. Investment Strategy - A sound investment strategy involves buying when prices are significantly below intrinsic value and selling when prices are significantly above it, while ignoring market noise during other times [4][8]. - Market volatility presents opportunities for undervalued buying or overvalued selling [7]. Tools to Mitigate Market Impact - Utilizing objective metrics such as star ratings and valuation indicators can help investors avoid emotional decision-making influenced by market fluctuations [8]. - Historical data shows that market indices tend to rise over the long term, with each bear market bottom likely being higher than the previous one, indicating a general upward trend [8]. Long-term Investment Benefits - Long-term holding of undervalued assets can yield satisfactory returns, even in the absence of a bull market, primarily driven by corporate earnings growth [10][12]. - In bull markets, investors can benefit from both corporate earnings and the additional gains from market enthusiasm, which can be viewed as "extra bonuses" from Mr. Market [13][14]. Conclusion - The roller coaster of market fluctuations is not inherently negative; buying undervalued assets and benefiting from corporate growth can lead to returns that surpass many other investment options [16]. - Maintaining a rational and patient approach, along with a calm mindset, is crucial for successful investing [17].