剧震之下抄底还是撤离？公私募大佬做出这样的抉择

上海证券报 2021-02-26

元宵节还没过，全球市场已开启巨震模式，尤其前期风光无限的“抱团”股，这几日近乎全军溃退。电脑屏幕上，贵州茅台已经跌下2300元，中证白酒指数还在调整，有色、化工股也在下跌，2月24日，头部私募的基金经理王林（化名）盯着盘，下出了买入的交易指令。“我觉得A股系统性下跌的可能性较小，因此近期的调整可能是阶段性建仓的好机会，老产品也没必要降低仓位，最近更重要的变化是，更愿意去寻找一些没那么多人关注的股票...

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免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

Fred_6810
2021-02-26
Fred_6810
对象起舞，你们都视而不见吗？
真的英雄
2021-02-26
真的英雄
老百姓幸福吗，基尼指数都爆了
猛逃
2021-02-26
猛逃
卖拐了，拐卖了……[财迷]
悠悠然的胖砸
2021-02-26
悠悠然的胖砸
抄一天抄一点
南无阿弥
2021-02-26
南无阿弥
还瞎吹
钞能力系Me
2021-02-26
钞能力系Me
讲左等于无讲，50/50

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0.5%以内的样本数量占比已经下降到约只有25%，可见当前已有公募基金开展一定程度的调仓行为。沪上一位头部私募创始人认为，“经历过去年的结构性行情，机构抱团的消费、新能源等板块的龙头股交易已经非常拥挤，在全球经济复苏的过程中，有色、化工等顺周期板块仍然具备机会，尤其是其中可能产生积极变化的中小市值股票，值得关注。”一位公募基金经理直言，预计铜、铝等基本金属价格韧性强于预期，但受季节性因素可能有所波动，所以近期下调了有色金属板块的仓位。另外，基于电动车相关的锂、钴、镍等品种持续涨价，等待未来价格水平超预期时点，才会酌情买入相关板块的股票。另外，近期基金经理对于“防守”还是“进攻”也存在分歧。比如，董承非在1月末的内部交流分享会议中表示，年初市场呈现明显躁动行情，而且市场已经脱离基本面进入资金正反馈过程，所以对2021年全年比较悲观，已经在做一些预防性的动作。王林却认为，全球经济复苏进程刚刚开始，市场流动性依然较为宽裕，市场系统性下跌的可能性较小，后续仍将维持高仓位运作。港股投资机会惹争议对于港股市场，公私募基金经理的观点也不尽相同。前海开源基金联席董事长王宏远表示，以今年这一维度来看，港股会是全球主要资本市场中表现最好的市场之一，有望走赢美股10-20个百分点，同时也会强于A股。格雷资产总经理张可兴也直言，今年会把投资的重心选在港股市场，目前港股资产已经占格雷产品仓位六成以上。今年的港股市场是汇聚天时、地利、人和的投资机会，持续时长将超过一年。主要原因在于港股2018-2020年连续三年跑输A股，即便去年流动性宽裕，互联网行业的优质龙头去年涨幅相较于A股的科技股也不算明显，因此，如果以10年期视角看，港股的机会才刚开始。但董承非却表示，港股大家比较看好，但未必结果会好。具体来说，现在看好港股的人，逻辑是A股流动性外溢，但如果A股市场有变化，港股作为离岸市场，不一定会有很好的结果。上海钦沐资产合伙人于洋也提示称，港股的很多优质标的相比于A股优势较小，只是交易相对没有那么拥挤。如果大量南向资金涌入，其交易优势也会逐渐消失。而且，由于美国流动性可能会收紧，港股的风险更大，因此投资者在投资港股时需要更加谨慎。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":368629441,"gmtCreate":1614319684783,"gmtModify":1703476307339,"author":{"id":"3563140991934227","authorId":"3563140991934227","name":"Fred_6810","avatar":"https://static.tigerbbs.com/fbe236f23155302a4dcecbf04d2e9040","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"3563140991934227","authorIdStr":"3563140991934227"},"htmlText":"对象起舞，你们都视而不见吗？","listText":"对象起舞，你们都视而不见吗？","text":"对象起舞，你们都视而不见吗？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/368629441","repostId":2114329408,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":368695369,"gmtCreate":1614315121951,"gmtModify":1703476246036,"author":{"id":"3472509891364152","authorId":"3472509891364152","name":"真的英雄","avatar":"https://static.tigerbbs.com/840859d8f7d3c5c63498b7f330b98705","vip":1,"hat":"https://static.tigerbbs.com/6444b4970948c1077534c593eccd6d16","crmLevel":6,"crmLevelSwitch":0,"idStr":"3472509891364152","authorIdStr":"3472509891364152"},"htmlText":"老百姓幸福吗，基尼指数都爆了","listText":"老百姓幸福吗，基尼指数都爆了","text":"老百姓幸福吗，基尼指数都爆了","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/368695369","repostId":2114329408,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":368692157,"gmtCreate":1614315006179,"gmtModify":1703476244493,"author":{"id":"3518527627041174","authorId":"3518527627041174","name":"猛逃","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3518527627041174","authorIdStr":"3518527627041174"},"htmlText":"卖拐了，拐卖了……[财迷]&nbsp;","listText":"卖拐了，拐卖了……[财迷]&nbsp;","text":"卖拐了，拐卖了……[财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/368692157","repostId":2114329408,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":368872620,"gmtCreate":1614313293960,"gmtModify":1703476215904,"author":{"id":"11199475574232","authorId":"11199475574232","name":"悠悠然的胖砸","avatar":"https://static.tigerbbs.com/b6633f0c4e40a342e8ecbc28af7be0ac","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"11199475574232","authorIdStr":"11199475574232"},"htmlText":"抄 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