Data:2009-12-12 2:34
Category: Money Tips Date: 2006-11-24
Wuhan University of Technology, School of Economics, Dong Deng grammar and new (Professor)
December 29, 2006 was 2006 the last trading day, the day the Shanghai Composite closed at 2675 points, Shanghai stock market average price-earnings ratio of 33.3 times. 1262 in Shanghai and Shenzhen-listed A shares, the shares distributed roughly as follows:
In Shanghai and Shenzhen A shares distribution and structure of table (December 29, 2006)
Stock
Stock (only)
Proportion (%)
50 or more
5
0.40
30 - 50
19
1.51
20 - 30
45
3.57
10 - 20
195
15.45
5 - 10
429
33.99
3 - 5
417
33.04
2 - 3
139
11.01
1 - 2
13
1.03
Total
1262
100.00
The maximum price of Guizhou Moutai (600,519) 87.83 yuan, the lowest for the S * ST Zhaohua (000,688) 1.37 yuan. However, due to report around the corner, the bull market will do, the cap, lower at 4 yuan, the following four types of cap, lower participation of retail investors to refrain from violence Fried:
(1) in the listed A shares in 1391, price-earnings ratio of more than 1,000 times as many as 218 shares; price-earnings ratio is between 100 - 1000 times higher than the stock has 192. The vast majority of these shares for the cap, lower.
(2)-listed A shares in 1391, net assets per share, below the "face value" (or 1 million) shares of a total of 140, of which the net assets per share were negative 47. The vast majority of these shares for the cap, lower.
(3) in the listed A shares in 1391, less than 1 cent per share the stock with 232, of which earnings per share of negative equity has 197. The vast majority of these shares for the cap, lower.
(4)-listed A shares in 1391, there are a lot of negative retained earnings per share for the stock, which means that even if the earnings of these shares in the future must also acquire a year's profits to offset accumulated losses of previous years, Most of these stocks are cheap stocks to save.
From a macro perspective, violence fried cap, lower will directly push up the stock market average price-earnings ratio rapidly, which will die quickly so that the bull market.
From the micro-level perspective, which allowed to fell into the "corner unit" and "sub-unit" garbage stocks, we should by no means touch it. Because these junk stocks current price is a considerable lack of investment value, and some even have no investment value at all.
Bull market peak in high-risk and must not hastily-bound! When the bull market of the back, just let it go back to it, it is natural. Any person who can not be countered.
