Over the past year, the market for liquor and home appliances in the A-share market, represented by Moutai, has evolved in depth, and individual stocks have risen sharply. The market value of Moutai surpassed the trillion mark, approaching the GDP of Guizhou Province. Moutai’s near-mythical excessive rise and blind pursuit of the market have caused market participants to worry more and more. In fact, this also reflects the difficulty of economic transformation. New economic momentum has not yet formed, and the traditional economic composition is still high.In the future, the world will still be driven by innovation. A-shares may be in a deep return. After the return, growth companies will be more attractive. If you only recognize that immediate profit is the so-called value investment, and ignore the original intention and long-term historical significance of the establishment of ChiNext, a big deviation will occur and it will also violate the original intention of the market.Practice has proved that the great revival of China’s capital market cannot rely on a bottle of wine alone. China’s capital market needs a profound sobering revolution.
