It's not about having little, but about unequal distribution. Although the STAR 50 index still posted the strongest gains among mainstream indices today, consumer stock shareholders won't be as envious as they were on Friday, because liquor stocks also surged nearly 3% today.

That's how bull markets work - everyone gets their turn. So don't keep thinking about how others made money while you didn't, or how you earned less than the broader market. After all, you picked these stocks yourself.

Think about it - those buying consumer stocks now are conservative investors. Being conservative, they naturally enter the market later. So the reinforcements for consumer stocks are still on the sidelines, not yet in the game. Don't be impatient. Let small-caps and tech stocks rise first. Once they're done, it'll be consumer stocks' turn.

Actually, if you extend the time horizon and hold a stock for decades, only human necessities remain eternally divine - that is, food & beverage, pharmaceuticals, and such.

The consumer stocks in the chart share several characteristics: 1. Strong brands, 2. Asset-light, 3. Rigid demand, 4. Market leaders, 5. Pricing power

By these standards, if you search A-shares, you'll most likely still find consumer stocks. China's "white water" (baijiu) is like America's "sweet water" (Coca-Cola).

If we've reached consensus that the food & beverage industry will continue to exist and help us weather cycles, then naturally the worse it gets, the more we should invest.

Don't think these aren't "new consumption" either, because "new consumption" has nothing to do with categories.

Is beer new? Asahi Beer's gains were double the index during Japan's deflationary period. Is soy sauce new? Kikkoman's gains were five times the index.

Even POP MART, widely recognized as the leader of new consumption, its classic IP MOLLY and rising star LABUBU are both 10-20 year old IPs.

So old things can still be called new consumption. So-called "new consumption" is more about high cost-performance or high emotional value. As long as these old things can innovate toward these two points, their stock prices may still see a second spring.

It would be even better if they could expand overseas.

The consumer stocks in the chart generally do global business, targeting all humanity's basic needs for food and drink, unlike baijiu which is more suitable for Chinese palates.

This is indeed where domestic food & beverage stocks haven't done well enough, but some have succeeded, like Eastroc.

In summary, fellow food & beverage stock shareholders or consumer stock shareholders shouldn't be envious. The current money isn't meant for us to earn.

But if this investment is viewed over an entire lifetime, the odds of buying food ETFs at the bottom now (codes 515710, off-exchange A-class 012548/C-class 012549) are still very high. And deploying through ETFs can also maximize avoidance of individual stock risks.

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1. Non-ferrous metals rose the most today, with all sub-sectors including new metal materials, industrial metals, precious metals, minor metals, and energy metals posting broad gains. The catalyst was rising expectations of Fed rate cuts - rate cuts boosting commodities and metals is muscle memory.

2. Cambricon continued its surge. Sell-side analysts are getting increasingly excited, with Goldman Sachs raising its target price to 1,835. After today's gains, it still needs to rise another 30%. Domestic brokerages are directly projecting trillion-yuan market cap. Haha, this scene brings back memories of CATL in 2021, when institutions projected performance to 2060. You all know what happened afterwards.

Historically, every bull market has darlings whose stock prices exceed Kweichow Moutai, but their later fates are increasingly tragic. This might be what I mentioned in the main text - only food & beverage stocks can truly weather cycles, while tech stocks can often only sit on the throne temporarily.

3. Ele.me and Taobao Flash Delivery officially announced expanding their social security subsidy coverage for city riders nationwide, with pension and medical insurance subsidy ratios up to 100%, and at least 50% subsidies for stable delivery workers. If I haven't missed any news, among the three major delivery platforms, only MEITUAN-W doesn't subsidize riders' social security.

Note, I'm talking about subsidizing riders' social security, not providing social security for riders. Social security requires both company and rider contributions, which is why riders weren't keen before.

JD.com is fully covering riders' portions, but it only has tens of thousands of riders. Ele.me subsidizes 50% to 100%, with over 4 million riders. The greatest pressure is on MEITUAN-W with the most riders at over 7 million.

Subsidy wars mean less profit, and paying for riders in the future also means less profit. Meituan, sigh.

4. Vanke nearly hit the daily limit, and other real estate stocks also performed well today. In a major bull market, who doesn't get to eat dumplings? Vanke lost 12 billion in the first half, with no operational improvement. If there's anything good to say, it's that there are no offshore public bonds maturing before 2027. For remaining domestic bonds, with state-owned major shareholders backing it, if there's money it can repay; if not, negotiating extensions would be easier.

MACD golden cross signals have formed, these stocks show good upward momentum!