Water Story: Bull Market Is Coming, But You Are Not Here.

November 11th is a masterpiece produced by the Alibaba, which can be said to be a masterpiece of Ma Yun's efforts. The so-called "singles day" has been plated into a Christmas shopping online. Irrational consumption of "chop hand Festival", although the Chinese style "mother of the devil" and "April Fool's Day" are outstanding, but the voice of blame is also endless.

What is even more surprising is that although Ali's sales amounted to $9 billion 340 million on that day, it has increased by more than 62.4% compared with the US $5 billion 750 million in 2013, but it still failed to meet the expectations of investors. Ali's share price fell 3.87%, although it rebounded on the second day, but the next day it fell 2.84%.

Of course, Ali's decline is not worth mentioning compared with its increase. In October 15th, Ali's share price had reached 82 dollars, and now the highest has hit 120 dollars, less than a month's gain is close to 50%, and its market value has exceeded 300 billion dollars. Ma Yun's heart and lung function has been subjected to a severe test. The only thing he has to face now is that he has never seen water in the sea, or he has to fight for defeat alone, or he will become a slave to the market.

This is it.

The price, the sweet trouble.

In fact, compared with competitors, Ali's share price performance has been quite perfect. In October 15th, the price of Jingdong, which was listed in the United States, was also 24 dollars. Now around 28 dollars, it also has a 1.68% decline on singles day, while sunning Yun business dropped from 8.70 dollars to 7.70 dollars now, and it dropped by 5.58% on singles day. In the same period, Gome exported to Hongkong from HK $1.40 to HK $1.14 now.

However, global warming is the same. It will only become more and more consistent in the future. It will become more and more popular.

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What is the significance of this is a question of benevolence and benevolence and wisdom. In our view, this is a milestone event, which means that China's capital market is fully open to the outside world, which means that the beginning of global investment by Chinese investors means the integration of A shares and the international market.

According to Goldman Sachs analysis, "Shanghai Hong Kong pass" is too big to be ignored, adding 568 optional stocks to global investors, which is expected to bring an increase of US $1 trillion and 300 billion.

UBS believes that this figure will reach 2 trillion dollars, if coupled with the expected "Shenzhen Hong Kong Tong", then

It will become the world's largest market outside the United States.

Morgan Stanley's research team believes that the implementation of the "Shanghai and Hong Kong Tong" indicates China's regulatory authorities' willingness to market economy and open capital account. Meanwhile, improvements in SOE reform and industrial pformation are also underway. The A share market is just beginning, and this bull market is likely to reach the level of -2007 in 2006.

The Morgan Stanley index shows that MSCI China has only 8.7 times price earnings ratio, which is 18% less than that of MSCI's emerging market P/E, and that China's MSCI will have a 19% upside in the future, and that will be close to 3000.

The spectators are clear.

When the Shanghai composite index broke through 2500 points for the first time, the sum of Shanghai and Shenzhen pactions increased to 570 billion yuan, which is much higher than that of the previous bull market. Around 400 billion of the daily volume of trading is now around 350 billion.

The stock market proverb, the sky is sky high, so it is normal to see the amount of people shipped. There is no need to make a fuss. Once the amount of days is constant, the new normal mentality is formed, and the market is going up and down. It is normal to see that the bank of China is going to die.

There is only one Ma Yun. There are tens of millions of investors. The biggest tragedy is not that you can't become Ma Yun, but that the bull market is coming, but you are not.