目 录
投资要点............................................................................................................................4
行业篇...............................................................................................................................5
1. 估值水平合理，寻找相对便宜的子行业........................................................................5
2. 金融危机对传媒行业影响显著，进入回暖趋势.............................................................6
3. 传媒行业受益于消费增长和政策驱动，发展空间巨大................................................10
4. 行业市场表现回顾......................................................................................................13
4.1 传媒行业远跑输大盘.........................................................................................13
4.2 基本投资策略....................................................................................................14
公司篇.............................................................................................................................15
5. 寻求合理估值下，超预期发展的公司.........................................................................15
5.1 歌华有线（600037）-买入...............................................................................15
5.2 博瑞传播（600880）-增持...............................................................................15
5.3 华谊兄弟（300027）-暂无评级........................................................................16