As a small leek in the A-share market, it has evolved to wake up every morning to see the performance of American stocks. Then the mood is often complicated, especially since July 15, when the A-share market entered the adjustment, the market sentiment is more sensitive. In addition, the “know the emperor” does things from time to time. Therefore, for US stocks in the evening, they often hate it to rise and fear it to fall. < / P > < p > every morning when I wake up, the US stock information pushed by mobile phones is almost no accident. It’s either a new high or a rising price. When I look at the gem, which is in the life and death situation, I sigh. Sometimes I think it’s fun. I will brush everyone’s comments on US stocks. I feel that many people feel that they are going to be born in US stocks. They are all gods of stocks. As a result, my leek decided to continue to evolve and learn more about American stocks. This understanding found that, darling, US stocks are more terrible than a shares. Let’s take these two days as an example. The NASDAQ has reached a record high again, but the only ones that really dominate the world are faamg and Tesla. Apple Rose 5 points last night with a volume of 2 trillion yuan, and the market value increased by 100 billion US dollars in one night, almost equal to that of PetroChina. As of yesterday, August 21, 2020, the market value of all stocks of the Nasdaq composite index was 18.59 trillion US dollars. What about these six stocks? A total of 7.6 trillion yuan, accounting for 41%, terrible. The S & P 500 is a little better, and there are more big companies that are strong. In addition, there is no Tesla in it, only faamg, accounting for 24%. What’s more important is that these big brother thieves can rise. Unlike our big brother, except Maotai, the banks are very useless. Among the big brothers in the United States, apple is up 70% this year, Amazon is up 77%, Microsoft is up 36%, FB is up 30%, Google’s weakness is only 17%, and Tesla is even more exaggerated, up 390%. In the S & P 500 index, 224 have risen and 276 have fallen since the beginning of the year, and the decline is quite alarming. It can be seen that although the S & P 500 has experienced deep V and completed the most violent bear market and bull market in the shortest time, reaching a record high, only a small number of enterprises have really realized v. < / P > < p > this is not only the case this year, but also the US stock market in the past few years. The S & P 500 is actually just S & P 5. Now, with Tesla, it is S & P 6. Since January 1, 2015, the S & P 500 has risen by about 65%, which is considered a bull market. However, on a closer look, the increase of S & P 5 is more than 2.5 times, and that of S & P 495 is about 25%, which is less than 5% in one year. When it plummeted in March this year, the gains were all in the dust. Many of the companies in the S & P 495 are well-known and have a large market value, so they can contain faamg and make them account for only 24% of the S & P index. But even so, the gains over the past five years have been the same. To be sure, for most A-share leeks, if they don’t buy Maotai in a shares, they probably won’t buy apples in the U.S. Therefore, we who are leeks in A-share market should not expect us to become sickles when we go to American stocks. In the end, GDP growth in the United States is very slow, and it is good to have three points a year, so it is basically a stock dominated economy. Under the guidance of this stock, there is a situation that has never been encountered in the past, that is, the rise of Internet giants. These giants are already huge in size, but they are all energetic and maintain a rapid growth rate. This inevitably means that other economic participants are in decline, and they are rapidly declining. This is not only reflected in the performance of stock prices, but also in the distribution of wealth in the United States. The widening gap of wealth distribution in the United States is due to the fact that since the 1980s, the income growth rate of groups with incomes in the top 95% percentile is far greater than the average growth rate. < / P > < p > there are many discussions on this issue, such as Reagan’s policies, such as the Federal Reserve, such as globalization. However, to me, the birth of chips in the 1950s was the real driving force. Most of the technological revolution before the chip is the extension of physical strength. However, no matter how large the extension of physical strength is, the boundary is also limited. The chip extends intelligence, thus greatly expanding the management boundary, providing conditions for giants to dance like elephants. Today’s Internet enterprises are the most typical representatives. Globalization and changes in policy and system are in line with this technological trend. < / P > < p > it’s a bit far fetched. In short, the stock differentiation of Meidi is very serious, and the A-share leek can’t afford to play. But we can refer to this differentiation. We will also do so if we refer to this differentiation. At present, China’s economy has maintained a fairly good growth rate, but the general trend of growth must be downward. Therefore, the domestic economy will also come to the stock dominated era. In the past, China was an incremental era. As long as it was not too bad, we could eat some cake. Therefore, in the past, even if it was not a general rise in the stock market, the fundamentals could support the rise of most companies. < / P > < p > but the stock age does not support it. If a giant wants to grow, it can only rely on its strength to grab its younger brother. This is not the problem of how many cakes they eat, but whether they have to eat. < / P > < p > in addition, from the perspective of trading, the registration system of gem will come next Monday, and the implementation of registration system on the main board in the future is also a big probability. In the short term, we can’t determine the impact of this policy on the stock market. Maybe we should fry it when it’s good. However, in the long run, the continuous supply of stocks will inevitably lead to the downward valuation of many stocks, which is a negative for the stock market which is not cheap at present. Supply is not worried, the demand side will naturally increase the purchase requirements, which will also lead to differentiation. For us ordinary leeks, the division of the United States and the emperor is a wake-up call: when the economy enters the stock age, we still strive to achieve our own counter attack. But don’t put your eggs in a basket. Don’t try to bet on personal counter attack, but you should continue to bet on the company’s counter attack with your own wealth. After all, counter attack is a small probability, and this probability will be smaller in the future.