绝对估值法

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对话菁英投顾——“长河”主创裘昕浩
申万宏源证券上海北京西路营业部· 2025-03-12 02:11
Core Viewpoint - The article discusses the current bullish sentiment in China's A-share market, particularly in the technology growth sector, and suggests that 2025 may present significant investment opportunities as the market continues to evolve [2]. Investment Philosophy - The investment philosophy is tailored for two types of investors: "Buddhist" investors who accept short-term volatility for long-term compounding, and "robotic" investors who strictly adhere to trading plans without emotional interference [7]. - The guiding principle is to use trends as anchors and discipline as boundaries to achieve optimal risk-reward dynamics [7]. Timing and Risk Management - Timing is viewed not as predicting the future but as aligning with trends; confirmation of trends through technical signals is emphasized for entry points [9]. - The investment framework includes four modules: trend selection, right-side entry, dynamic risk control, and capital management [10]. Stock Selection Logic - The investment strategy does not set fixed holding periods but is driven by signals; strict stop-loss measures are in place if expectations are not met [11]. - The approach is primarily bottom-up, focusing on individual stock trends while also considering top-down factors to enhance selection [12][13].