"I am desperately speaking of risk. It is making great progress, and the gem is breaking my glasses every day.

But I think the reason why I am empty is not wrong. I will not change it. "

Facing the soaring gem index, Li Daxiao, director of the British Securities Institute, issued such a voice.

"The historical experience of the human stock market shows that no stock market bubble can blow up."

He said.

By the end of last year, when the SFC named 18 companies suspected of manipulating the market, there were 300 collective stock market stops, and the gem index also fell 4.94% on that day.

At that time, Li Da Xiao, who had just won the honor due to the success of "Diamond bottom", threw out a "black five category" formulation.

He reminded investors to stay away from the "black five categories", namely, small stocks, bad stocks, subject shares, sub shares, pseudo growth stocks of the five types of stocks.

However, the share price performance of GEM has exceeded the expectations of Li Xiao Xiao this year.

This year, the gem index rose from 1471.76 at the end of last year to 2142.67 at yesterday's close, up 45.59%, and no sign of a fall has yet been seen.

Yesterday's closing, a total of Sang Le Jin, Hua Changda, Yi Lianzhong and other 28 gem stock trading.

The surge in the growth enterprise market has given Li Da Xiao a lot of pressure.

"I always say old mistakes. Many people want me to admit their mistakes. This market is threatening me to admit mistakes every day, and harassing phone calls every day."

To the public securities and financial information network reporter said.

"The gem is breaking my glasses every day, but I think the reason I see is not wrong. There is nothing wrong with the analysis method. It is wrong to say early, and it is a little too early."

Li Daxiao said he was determined not to change his judgment.

However, Li Xiao Xiao now no longer predicts where the gem is.

He said: "now this stage is the limit of the human stock market, but to what extent it can happen.

PE's rise to 70 times is already far from the mark. If it rises to 85 times, it will be 90 times more likely.

The bubble also has its own process of strengthening itself. When the peripheral funds see too much profit, there will be more and more capital coming in.

Li Xiao insisted that the reason for looking at the gem is still on the valuation.

"I am very much in favor of Song Liping, general manager of the Shenzhen Stock Exchange," she said. "At present, the valuation of A shares is the first in the world."

He said.

In Li Daxiao's view, today

80 times price earnings ratio is very fatal.

"At 80 times earnings, the risk of making money is different when making money and 7 or 8 times."

Li Da Xiao said so.

He analyzed that there are five main factors that are unfavorable to the Growth Enterprise Market: first, the impact of expansion, and last year, the gem issued 5, this year, 8, so that the year is close to 100, the original gem is more than 400, the expansion of more than 20%; two is Shenzhen Hong Kong Tong, Shenzhen gem compared with Hongkong gem, the valuation level is many times worse; three is the performance announcement, the gem growth rate 22% this year, when the performance announcement, everyone will be shocked in the heart, in the end, 80 times the PE and its performance is corresponding, it will be re examined, it is also a test; four is

The pfer board, which was raised by Chairman Xiao, will not be turned out all the way, but there will be more channels for expansion. The five is the 500 index futures of the CSI, and some of the stock market has entered the CSI 500 index. The State Council has agreed to open the 500 index futures of the CSI. After opening, the short selling strength of the gem will appear.

"Recently, the market is strong, which is different from my previous judgment.

But this is the reason, which is supported by 80 times PE, which is still very weak.

From the historical experience of human stock market, no stock market bubble can be broken.

The risk is already there! "Li Daxiao repeated the reminders.

"Gem is constantly innovating and testing everyone.

At the very least, we can not borrow money to buy the gem, nor can we buy the gem with all the money.

Leave a rope and tie yourself to a post. Don't jump or block your ears. Don't listen to the song of the sea monster. "

He told the public securities daily and Caixin network reporter.