Category: Money tips Release Date: 2006-03-25
Let's look at the major media, the securities board topics: A stock holdings by foreign investors, QFII quotas is the first left; Securities and Futures Commission confirmed on a vote Morgan Rat, fund managers, Tang Jian will be dealt with; fund investment brokerage QDII regulations coming soon ; central restructuring and reorganizing enterprises and major investment and financing to be reported to the Commission ... ... almost all of strengthening supervision, increase the investment channels and cooling the stock market. Yesterday I said that not all regulation and control can play an immediate effect, but we still need some positive management initiatives to guide and bound the market into positive development track. However, the rapid transformation of attitudes and central bank exactly the same, the Commission first warning at the weekend risk, the report said earlier this week, again a little risk. I do not understand the market only when nothing is happening, of course, its own way, according to up worthwhile.
Viewed in isolation, 1:00 Change is difficult to draw objective conclusions, to assess the valuation is not an isolated pair. The so-called price-earnings ratio of 36 times through a simple one multiplied by four quarterly come, in a great proportion of investment income under the inherently unscientific (semi-annual report this figure will be greatly changed), if the mechanical and China's stock market over the years to compare the high point, the conclusion is even more biased in. Are talking about with the international standards, foreign capital entered the domestic capital is also out in 2001 or even earlier A-shares have such a background do? If we say that A shares have a good investment value, then the same shares, H shares of B stock is not cheap so much more worthwhile to buy it? If we say that there are sufficient stocks of domestic full financial backing, and that a more open international market is not to have more money? Elimination of 2 yuan Unit for the eradication of 3 yuan, and now even below the 5 dollars is gone, even the delisting of the shares are to be turned a 78-fold, adding that a reasonable and which the normal market is this? A reasonable position to judge to create a reasonable, high-valuation is the greatest passion, rather than relying on others, once the enthusiasm receded, volatility is inevitable.
However, we can not go the other extreme, that the A shares will no drama, and more than the international market price risk is not only the potential for another job, and everything to see the direction of development to see the speed of development. Stock market already fair share intrinsic value calculation model, the deviation mainly from the uncertainty of future earnings, optimistic or pessimistic results led to no small difference, so I have repeatedly stressed that the most reliable positioning must be based on the foreseeable future Relying on the stock should be over time, with the visible factors and change, otherwise the potential risks. Have overestimated the risk of over-and underestimate the risks are also underestimated. Market sentiment should be considered a factor, but investors should have to endure can not exceed a certain level of deviation. It is not because the market is still up on that end of the story, say down to adjust the beginning, you have to have your own principles, can bear the temptation to insist that this is your view, to develop your strategy accordingly, adjusting the final also took the initiative into the market to buy sets. Plug-in speech objectionable, the fence should be condemned.
Optimistic about the recent column of Shenyang Chemical Wuhanzhongbai, Yili shares are listed or the forefront of how failure to follow the trend of theme stocks could get a very good benefits, including the former are the author shares a series of well adjusted in their low-introduced , whether you blown more mysterious, my principle is that the center line and passed, bargain-hunting, no chance to be willing to wait. Now it is not doing better than the fast (even though these stocks up speed a little better than chasing the high and speculation slow), but the success rate and long-term rate of return.
Midline stocks Supor texture is good, many subjects, but also to adjust for a while, you can focus on, bargain hunting.
