Category: Money tips Release Date: 2006-04-22
About every version of a newspaper's securities will see words such as: The stock market risk, the investment need to be cautious. About every one stocks smart people know that they are a risk to enter the market. However, every time the "big bull" wave, and make some people forget the risks and were eventually swept away by the tide. This is the stock market, a verification crowded places.
In fact, perhaps none is as poorly the Chinese proverb "lust for gain" better able to express the risk of the stock market, because it is profit-driven rather than the genuine investors who constitute the majority of the stock market crowd, even if the value of many investments in the search for the alleged institutions, in essence, there are more cunning fame and fortune of the believers. In the emerging Chinese stock market, the situation is even more so.
Of course, the fame and fortune is not a derogatory term, the stock market will be in this wonderful design is to ensure that the speculators who have the potential of high-quality resources to invest, so there never will be welcome to speculation. The question is, risk education, if not keep up, the risk-control mechanisms, if failure, a speculative bubble will be blowing the larger the "stock market Charm" will evolve into a "market magic" and eventually by large-scale loss of fame and fortune. So, there will be turmoil in the financial markets, social problems will follow.
At that time, "tulip bubble" gave its crazy the whole country the Netherlands, a black tulip could fetch a floor price, but in the end, it shattered, the original Dutch empire envy of the world from sinking as a second-rate small country.
Today, China's stock market is indeed a bit crazy, though only the beginning, but has even been toiling away at the scene to let some things from people I do not know why stocks are moving and the heart. In fact, we already have 80 million accounts shareholders, which is roughly the total population of Germany, but if the stock market is still hot, this number may be able to exceed 100 million. In other words, to continue the game the result would probably be for the lives of at least 3 million people into the stock market game in the past. While institutional investors have been great efforts to develop, although more than one year bull market has also nurtured some of the "Christian Democratic", but trust management is not a Chinese tradition, 80 million account is also still in the vast majority of individual investors --- a group of people who consider themselves very clever, a group of people who inquire about the news everywhere, a group of some spare cash on hand and eager to get rich people.
On the one hand, they are strong, some of their idle funds, the beneficiaries of reform and opening up, is a mainstream of Chinese society; but on the other hand, they are vulnerable, from the capital, technology to the information, they basically do not advantage, some of them are institutions in the eyes of the "fat" to mess it is necessary to Ai Zai.
This is a typical "Chinese characteristics", the short-term can not be changed. Precisely because of this, the stock market's "Sangong" principle will be particularly important in China, this is not the "Wall Street meat grinder," as described in a relatively simple institutional game, China's stock market although not large, but the social impact is far far more than today's Wall Street.
However, the problem is out of here. Because one of the most needed "Excellencies," the market is precisely the "Excellencies," to be further improved in emerging and transitional markets. Here, efforts to crack down on stock price manipulation, fraud on listed companies be punished more severely, are still further enhance the space, and the United States and other mature equity markets is still a certain gap. Here, the laws and regulations is not perfect, a number of institutions and individuals still want to use loopholes in laws and regulations of the individual playing the touch ball. What is more noteworthy is that, where information transparency, headroom is not small, in general, people's eyes, can see inside information tend to be those "relationship" and in 2006 a small number of senior executives of listed companies stocks like "stock god" the fact that vast numbers of shareholders told here while there is still much room for improvement and to improve.
So I think the investment market risks in education on the verbal or written reminder is very important, although the market is the best teacher, spent a long time in the stock market the majority of investors will understand the meaning of risk, but more important is that , we must as far as possible the risk information as soon as possible to tell investors and not let a "rotten" in the bursting of the bubble process. Identify their own risk of course, individual investors, mandatory homework, but all sectors of society face the risk of continuing to remind and reveal also a very responsible approach.
And now, some officials and media to discover the stock market risk, and even the Chairman Shang Fulin canvassing to remind himself as "invited" people to do the risk-based people, this is a very interesting thing. But, on the other hand, we have all kinds of subjects in the market and further efforts to improve information disclosure to risk education as an effective complement to the oral. After all, fame and fortune of the people they see interest, identifying unclear circumstances, even if it is scrap metal which he also dares to buy.
In the current hot stock market situation, the right to do the risk of revealing necessary. On the one hand, we must strengthen the effectiveness of information disclosure and timeliness, increase penalties for irregularities in the stock market strength, to prevent the fish in troubled waters; the other hand, the modern investment market is based on the principle of buyer conceited, policies reveal all the days are long past into the plume, investors when making investment operations must be careful. When hot in the market to maintain a rational and sober state of mind is the best prevention against market risk.
