Category: Money tips Release Date: 2006-11-05
Editor's note: The existence of the dealer has been China's stock market bears the profound imprint. Even today, people are privately talking about a certain stock movements, the theme remains the bookmakers means. While the future Zuozhuang will become increasingly difficult, but as long as the stock market exists, the dealer will not be extinct figure.
Full Circulation Reform will be coming to an end in May 2006. In accordance with national policies and reforms carried out full circulation of all non-tradable shares of listed companies - whether state-owned, or social legal persons or natural persons, will change after the end of the stock into a flow of A shares. A share of these flows will be 5% after one year in circulation, after two years in circulation 10%, three years later without any restrictions can circulate freely.
In other words, in June 2008, stock reform to build the thousands of one-time bookmakers will be formally bulk appear - these are the real sense of the Makers - dominated the board of directors and corporate management power, holding 70% of the shares. Of these new bankers are thinking, destined to be a profound effect on the color-floating era of China's stock market.
In today's securities markets in China's special circumstances, Zhuang Gu is a sensitive concept. Investors in China, the traditional concept of the canvas: Zhuanggu has become a dealer in its careful arrangement of the news behind the trap, the share price pushed up like a fish after the same batch after batch of money to investors come from a high level sets of the last their own feet Under the grease, entrainment profits leave the territory, all the shareholders at a high level on the sets of dry dead hoax.
In fact, the relationship between dealer and retail a bit like the relationship between a lion and the antelope group, and no one cursed the Lions, and no one forced the Lions diverted to eat, we also have no reason to drive people out of the banker. Sadly, since 1999, the market managers, participants, including some economists, are doing the vanguard of the Lions massacre. There is no lion's grasslands, antelope increasingly weak, but a large number of dead end because the Paobu Dong - China's stock market today has been repeating the tragic mistakes of this grassland.
Consolation is that the Book of full circulation to reverse the tragedy of the era are emerging out of the dawn.
How far away from the dealer investors
Last year in August, a share reform of listed companies, a major shareholder discuss the decision has raised the price to please investors. The author has consulted major shareholders CEOs: How much money should be prepared? I suggested that he first try, he pulled to 100 million in cash that day, try to buy their own shares as a result, shares the same day the daily limit. At first he did not quite believe their own eyes, facial features with Guo Jing as a successful play for the first time降龙十八? and then immediately into the role - and this way, daily limit for three days straight pull, on the fourth day, stocks, shareholders of a reform program cheers passage.
This case, let us know that the ability to influence a stock price data - 100 million yuan. Why is it so long as one million yuan? Shareholders of the company are all individual investors, are ill for many years antelope, lions have been killed light, so trading was light and no one day, not many people buy sell, you suddenly brought 1 million, bought a large amount 30 million shares, almost a full day of normal trading volume, supply and demand relations are seriously out of balance, a natural limit-a. And vice versa, if you sell 30 million shares a day, lower limit is to be expected conclusion.
This micro-data also indirectly tells us: an ordinary investors, how far away from the dealer? When you use one million yuan stocks when there is no doubt that you are ordinary individual investors, bankers are not you, when you have two million, you must seriously consider the cases I have been talking about earlier: the act as a banker, rules of the game of . Apply a fashionable words: capacity the greater the greater the responsibility. Yes, the future task of safeguarding world peace to you.
Therefore, the answer is naturally occurring, this is neither a good definition of the dealer, nor malicious, it is the market price theory and the natural reflection of the contradiction between supply and demand, this does not matter right or wrong good and evil.
New Dress Makers Zhuanggu stage
In contrast China's realities, through a nationwide massacre lasted for five years, a lion behavior, with the Delong Securities, China Southern Securities, Hantang Securities Company, the traditional ZHUANG have basically disappeared. The new dealer currently has three categories: foreign investment institutions, including the legal QFII and walking a fine line by proxy, or agent of the company enter the Chinese A-share market investment, foreign individuals, enterprises funds; private funds, including real estate owners group, the new rich of the private entrepreneurs; the remaining government-run funds or quasi-government-operated institutions, such as social security funds, large and small fund companies, listed companies or large enterprises, the investment company.
The stock change, it can be said of the second category funds directly into the front, previously reticent about death is not recognized by the bookmakers who have surfaced, with the share reform of listed companies on the price of direct negotiations. I am also fortunate to participate in a number of negotiations, the negotiating time is short, a showdown of the rapid, without exception, their strength is amazing. There is a private enterprise in Jiangsu, stock reform on the eve of only aware of their top three behind the all natural shareholders of the Northeast with a real estate owner, then Meet in Beijing negotiations, a total of five minutes, making the three conditions put forward are all immediately agreed, so the smooth stock reform通过.
Full Circulation Reform will be coming to an end in May 2006. In accordance with national policies and reforms carried out full circulation of all non-tradable shares of listed companies - whether state-owned, or social legal persons or natural persons, will change after the end of the stock into a flow of A shares. A share of these flows will be 5% after one year in circulation, after two years in circulation 10%, three years later without any restrictions can circulate freely.
In other words, regardless of your previous retail or dealer, from June 2008 started, will become the antelope; while the new Lions, will also be officially in June 2008 Volume occur - these are the real sense of the word Makers - dominated the board of directors and corporate management power, holding 70% of the shares. Who can, and fight against them? Clearly, the current three surviving bookmakers do not have this capability.
Full Circulation calls for a new era of banker
Began in 2005 split share structure reform, the market makers and retail above the living condition of complete subversion. However, this writer found that, at present most bookmakers and individual investors have not yet entered the role of a new era of no-floating Zuozhuang rules of the game and operating practices for careful thinking. Interestingly, the emerging stock restructuring banker also did not enter the new role of full circulation.
I talk about a listed company in Hangzhou, tradable when encountered such a case: large shareholder in the share reform on the internal meeting very happy to calculate the own shares can be sold after three years how much money. I asked him: Do you sell the stock after the Name Xie take money to do, flee do? You have not thought about throwing one's own stock, the stock will be down to a few cents? He's Yaran.
The new dealer is currently stupid idea is a terrible signal - which means that three years later, these large dealer may sell their shares to buy big. This is no doubt that the relationship between market supply and demand will cause chaos, so that the stock situation of a slump - the Lions have to eat up all the time possible to antelope.
We do not want this situation occurs, it is clear, we have no way to stop the big bankers sell out, throwing the stock is their right. We can do is pray for them to enter the banker's role as soon as possible, recognizing that simply throwing cash equities, not making the best choice, it will only retail investors to flee, finally everyone starved to death. I propose the largest shareholder: tradable securities market, the dealer there are many games are played not only the cash in a move. Can, in turn, pulled the stock market value bigger, to mergers and other enterprises, and thus the retail banker is a good thing. Moreover, the market value bigger, you just sell a little stock can get a lot of cash, why does a Jiezeeryu?
Unit out of reform have created a one-off thousands of bankers, they are now fine grain foot soldiers, but also should learn the law, when use of troops. This produced a new batch without making trial and error, directly into the banker's role is to China's stock market and China's largest retail gospel. Because, after all, there are so many cases of the stock market casino and the West, why do behind closed doors from scratch?
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