Category: Money tips Release Date: 2006-08-11
Source: Zeng Huan Chongqing Morning News
"Too cattle, or more retail厉害!" Yesterday, when the stocks in the closing hours before pulling up again, a securities analyst could not help but to issue such a feeling. And a fund manager interviews to reporters, then simply said: "Now the market simply can not be predicted! Dominated the retail market conditions, we are vulnerable."
According to the latest statistics, Shanghai and Shenzhen in April the total number of new A shares account for up to 4.787 million, in one fell swoop more than a quarter of the total number of new accounts at the same time go beyond the previous two years the total number of new accounts. And is now on new funds have been more than 12 billion yuan. A-share market has evolved into the retail-led sector-led.
Fund has become vulnerable groups
"In the end is a stick or with the foam dance? Now we are really difficult decision-making?" Bank of Communications Schroder Fund, Mr Chen recently in a blog tells the fund manager a real headache.
"Not involved in how to do? Our core stocks are running, but broader market. Continued to perform well, then they laid off. But to follow blindly, the future who is going to take the risk?" A fund manager's point of view agree with Mr Chen.
In fact, Hu Zhi since the break since 3000, the Fund did not have too much of Awkwardness outstanding performance, some funds can be said that the basic Takong of April since the soaring Quotes.
And some overseas investors, has recently stepped up its QFII China A Share Fund redemption efforts. Currently the largest venue of QFII funds --- ishare FTSE Xinhua A50 Fund, has recently been focused on a month or redeemed.
Recently, many fund managers have said that the markets have become increasingly can not read, and since we must be careful to read, or simply not do. Fund managers pessimistic even told the media, the Fund lighten up the more fierce, but buying more gradually with the retail market, the right to speak.
Wrong conclusions retail Quotes
Jian Sheng, Nanjing Securities told newspaper reporters that the residents of the retail banking market is dominated consciousness awakening result is trillions of dollars in savings and deposits moving results. Current round of savings en masse to wave has just begun. Therefore, the retail Quotes afternoon although there were many twists and turns, it is still worth the wait.
In his view, the effects of large-scale retail market, it should be divided into two perspectives: on the one hand, the improvement of the structure of the stock market investors, making A-share market game the previous two years, mainly on institutional change have become parties to Game increase the liquidity of the market; but on the other hand, some individual investors lack of risk awareness, resulting in the current climate of relatively strong part of the investment market, this one need to continue to vigorously enhance investor education.
Sheng Jian recommended not to rush to the current retail Quotes conclusions, "Sometimes, at one stage seemed 'irrational' behavior, in another phase of it may be rational. After all, the long run, the future of China's capital market is still much room for growth. "
10 months ago this year, worry-free?
Well, this round of unprecedented retail market, how to go very far? Southwest Securities Wang Jun said: "Now the market has entered a partial Bo silly, I am now only concerned about the sudden drop in the number of accounts one day, perhaps a genius is a turning point in that."
The persons concerned have given an estimate: the number of accounts in accordance with the mature markets accounted for 25%% of the total population to calculate the Chinese accounts, up to 130 million, while the A-share market is currently a total of about 90 million accounts, there are still about 3000-4000 10000 The potential number of households. With daily average of about 150,000 to calculate the progress of the stock market, accounts tide will last until the eve of the 2008 Olympic Games.
Taking into account the stock market is increasing, the funds needed to promote rose growing amount of are also factors that can be binary this time, that is, in October of this year, before the wave of incremental funding accounts can still support the broad market higher.
However, market participants generally agreed that: Despite the recent broad market crash is unlikely, but the individual investors in the operational plan and risk-resisting ability, they can not when compared with the body, so as the rising stock market risk is also accumulation of greater risk. Therefore, the future market's volatility would be greater spike the frequency will become higher. Investors should note that the characteristics of the retail market, and constantly adjust the operation of thinking. Is also an institution believes that: The Government introduced policies to prevent bubbles magnify the intensity is also increased, investors should also consider this risk.
Do not share when the lottery ticket
One day, the old hair of the QQ group blog on a shareholders asked: "Why do I share a continuous half-hour prices do not move it?" I have a look at the time, it is already 15:30, and the stock market in half hours before the close of the.
A similar joke, almost every day in China's stock market staged. Adage: "When all is filled with talk about stocks, already approaching the final crazy!" Especially when more and more people are holding "cash money" mentality to join the ranks stocks when the stock market risk is constantly increasing.
Morning News a few days ago the old hair club for more than 2,000 to a survey conducted by the shareholders: For the "stock market bubble" burst, nearly 40%% of the people that "do not worry about"; 35%% of people said "indifferent"; there are 25%% of people do not know what is called "bubble."
Are shareholders, said: buying stocks better than buying lottery tickets, 100% winning! The vast majority of investors that: money is in the affirmative, but Profits are problems. Now, almost no one thought to lose money problems. Knowing the company performance, price-earnings ratio of these basic knowledge of stock market investors, but also very small. This non-rational attitudes and behavior, are quietly larger risks.
I have shareholders to consult a stock, I asked him, you know this company is doing to do? He said, did not know. How big plates? Do not know; a quarterly what? Do not know. I say you do not know anything, it is best not to buy. The stock market is not gambling, is not a game is a intelligence, knowledge, experience and fighting spirit! You do not prepare these preparations, it is hard to become the final winner. Prudent investment, after all, their hard-earned money.
