Category: Money tips Release Date: 2007-06-29
This year's NBA Finals, the two have never gone to the Finals victory in the finals of the team joined forces, the first time in 35 years, so certainty predicted before the season, the Spurs and the Pistons will once again be a collective aphasia experts hegemony. The reason for the Union to encourage intensive offensive limitations defense policy changes rules of the game. This historic "subversion" in our securities market are also frequent, due to the same rules of the game change.
Often have an investment of a friend told me that I never buy "XXXX" stocks. The "XXXX" is sometimes a vast land of China provinces, sometimes a particular industry, and sometimes some kind of concepts such as asset restructuring and so on, sometimes it is a valuation of a target, such as "more than 20 times earnings," Like a computer inside the wildcard. Or simply say to a stock look dead, Moxi! I gradually discovered that all of these friends said, "firmly refused to buy" certain types of stocks, expression of determination, more or less with contempt or anger feelings.
These friends are accustomed to see moon and spring fishing for black hair-chiao, is also a battle-hardened old hero, do not buy a stock must have its reasons, but in any case, to a certain type of stock indiscriminate white "stick sweep a large "bother, this is not an irrefutable truth, much more is prejudiced.
After the first half of the stock market, we suddenly discovered that many simply dismissive of the past, the stock soared, suddenly changed state (referred to as "perverts"). Growth, value, innovation, foreign investment purchased at a premium, suddenly, such as spring night, the Trees 10000 pear tree to open, so many experts glasses threw rotten in one place.
Bias exists in various forms. Such as the recent Bank of China to be listed, many hundreds of billions of people expected to freeze the funds, which was also amazing was the number of the total market value in circulation? Clearly belongs to excessive bleeding, can quickly lighten up. But from another perspective, currently involved in purchase of new shares probably many of incremental funding, rather than from the secondary market to pump blood. And this is one of the driving forces Quotes of excess liquidity, in the era of excess liquidity is a lack of money or lack of benefit?
Prejudice is a kind of inertia of thinking, a frame, this kind of thing a long time in our own minds, leading to the new situation and new problems come, we are unable to adapt quickly to change and thus missed many opportunities.
Bias, one of twin brothers, called arrogance.
Share-trading era, some listed companies and controlling shareholders is quite arrogant. Because no matter what the secondary market price fluctuations, and they basically did not exist a direct interest, it is inevitable to some extent they will tend to ignore the interests of shareholders in circulation, or even damage the interests of shareholders in circulation. This may not be deliberate arrogance led to the people of the era of split share structure of listed companies as a collective bias. But now the situation has changed after the split share structure reform, distribution of non-tradable shareholders, the gradual convergence of the interests of the shareholders, for the pursuit of common interests, the original non-tradable shareholders, the kind of "arrogance" has gradually lost psychological basis, The bias is not ordinary investors should also be changed?
Securities market development for so many years, creating a lot of legend, but also gave birth to a lot of "cow people", some friends in the past years to cultivate the tremendous success of a firm's investment philosophy, but also created a tremendous strong self-confidence. This confidence is reflected in stock selection is usually in two ways: first, I usually buy what kind of stocks; second, Do not talk to me that what kind of stocks to buy. The latter on the mood a bit arrogant, and that is the mood of this arrogance has led to the most at the beginning of the article kind of statement.
Although Andy. Gelu Fu said, "only the paranoid survive," but I understand this paranoia is an insist on faith, for example, often said that the value of investments, rather than a particular worship of things, such as the so-called low price-earnings ratio.
Must be recognized that the present stock market is, "This world is full of love" is no doubt a touch too strong romanticism, but at least we can put aside arrogance, prejudice aside and try to use a calm state of mind is more open to embrace this is changes in the securities market.
