Public offering funds significantly reduced their positions in technology and innovative drugs in the first quarter.VideopokerfreegamesonlineElectronic and pharmaceutical positions decreased by 1. 5% respectivelyVideopokerfreegamesonline.86% and 2Videopokerfreegamesonline.9%. MeanwhileVideopokerfreegamesonlinePublic offering funds substantially increased their positions in power, resources and banks, with power positions increasing by 1.29% and resource stocks by 1.92%. This suggests that institutions are more inclined to increase their positions in industries with high dividends and reduce their positions in the technology and pharmaceutical industries. However, this up-and-down phenomenon is unreliable, as public funds chase the hottest industries and attract people to buy to earn management fees, regardless of the strength of fund managers.
This model should be changed, otherwise the performance of active funds will only get worse and worse. In addition, the current high dividend is very crowded and may face the risk of explosion. In addition, some oversold micro-disk stocks have been found recently. once their first-quarter results are slightly better, the stock prices will jump short and open the next day, forming a strong net profit fault pattern. This is also a poor expectation, because the market had expected these stocks to be delisted or ST, but in fact their performance is very good, there is no risk of delisting and ST. So look for oversold microcaps that did well in the first quarter and came out of the gap in net profit, and they are likely to keep coming out of the repair market. In short, this idea of stock selection is much better than blind selection.
On the news side, the data released by the United States showed that the PMI of the manufacturing sector was 49.9 and the PMI of the service sector was 50.9 in April, indicating that the real economy of the United States has weakened, so the market expectation of the Fed's interest rate cut has returned, and the latest forecast has been advanced to July. However, market expectations of a Fed rate cut are no longer reliable and the market no longer believes this factor. In addition, SenseTime Group launched the Rixin 5.0 model, which can be used as a benchmark for GPT4.0, and its share price soared 31%. However, the speculation of AI theme may be more cautious in the near future. In addition, Zhao Changpeng, the richest Chinese in the United States, was fined 43.2 billion US dollars and sentenced to three years in prison for suspected illegal activities. The rich are often harvested in international affairs. On the whole, A shares and China General Interconnection stocks have performed well recently, and the strategy of lowering expectations is still effective.
