股市教育資料

美國大銀行除了商業民用以及少許政府業務外，還涉及理財、投機（炒股、期貨、外匯等）和研究的業務，研究，除了給自己在公司操作和發展方向做謀略外，還給客戶、其它投資機構，甚至政府民間機構團體一谘詢的作用。一般來說，大銀行在經濟大局方麵的研究，尤其片麵的一麵，卻大多包含客觀務實的評估和預測。

《商業內幕》是一八卦網站，但常常將美國大銀行刊登出來，對於我們這些沒啥錢的小民，也算有機會領略一番。這是近期它們收集的美國大銀行對美國股市的評估，不乏有用的信息，我抄錄下來。原文帶有對圖標的介紹、評論，大家可以參考。
 

Credit Suisse

 

Credit Suisse

 

 

JPMorgan Asset Management

 

Citi Research

In any given year, a huge sell-off is probably going to happen.

JPMorgan Funds

 

Average returns rarely happen.

@Vanguard_FA

 

Past performance is no predictor of future returns.

Bank of America Merrill Lynch

It's common to see the market do the exact opposite of what would seem to be rational.

FactSet

Valuation does not do a great job of predicting near-term returns.

BAML

Importantly, a rich valuation is no sign of a dying bull market.

BMO Capital Markets

 

Even Robert Shiller's venerable measure of value isn't great at predicting what's coming in the near term.

Credit Suisse

Valuations become more useful the longer your time horizon.

JPMorgan Funds

Generally speaking, high valuation stocks don't do great.

Barclays

Even big long-term bull markets have crashes in them.

BMO Capital

But in the long-run, stocks go up.

JPMorgan Asset Management

 

Panicking is costly.

Bank of America Merrill Lynch

Stocks will go down a lot, but then they'll go up a lot more.