Change the value of investments 72 Money Tips

Category: Money Tips Date: 2007-07-23

Hu snow

Hu Shih once said: History is a fancy dress little girl. To the effect that, due to the position of people's interests, likes and dislikes of different thinking and emotions, each of the description and interpretation of history tends to vary, and no lack of randomness. In our Shanghai and Shenzhen stock markets, but also quite that mean. Looking at the past 16 years in Shanghai and Shenzhen stock market evolution, analysis of the behavior characteristics of the participants, the market has always been propagated by the mainstream value investing philosophy, but its shown but they are pure speculation that now. Although this called speculative investments such as 72, the monkey is so changed, changing, often come and go, but it is difficult to hide the tail of speculation.

The two cities is characterized by the early embryonic, stock chips scarce, while rich people who desire to Cheetos, funds are also odd, therefore the main banker of the manipulator is big way is to use and create tension in the relationship between supply and demand of stock funds, stock prices rise and fall is essentially the concentration and spread of chip cycle. Large spread out of control is the value of the investment is a set of theoretical rhetoric, what better company performance ah, government support呀and so on. Although the public investors in those dubious rhetoric, but an inattentive or easily be Huyou fooled. Of course, fundamentally speaking, when the two cities is a naked speculation, such as Jiangsu Yueda warrants an unexpected rise of 637 percent of the spectacle.

Extremes meet, due to toxic side effects of too much speculation obviously, Shanghai and Shenzhen pure speculation, since 1996 show restraint. Not so much restraint, but rather that the content and form of change. After a period of reflection, the main are transformed, played a beautiful blue-chip high-growth banner. In 1996, outperform stocks with high growth rates are generally high Transmission and Distribution, blue-chip features, such as Sichuan Changhong, Shenzhen Development, deep science and technology, is the year's brightest star Dongtaiepai White Horse Unit. The main choice of quality companies when the tiger banner, of course, is a kind of progress, but since it is speculation, the main force is necessary to stir-fry, it is necessary overdraft, it is necessary for several years to eat dry rice in the year to drink a net, we must bite to eat he was a fat, such as the top gainer in 1996 the creation of science and technology, the annual gains of 712.75%. Of course, there are ambitious guy, such as the main speculation Dongfang Electronics consecutive three years of operation, ex then rise again ex, and then rise, the market value of continued explosive growth. Some people might ask, stir-fry for three years is also a speculation? Yes, because it was the East's main electronic and fry all the stuffing leaking, and now the East electronic false statement in a civil compensation case does not knot.

By 1998, the main body they shake great changes, a great fuss about re-stocks, true and false recombinant also caused the speculative hype cities blowing hot air again, and their rhetoric is still a crow can not do without changing the value of investment by the so-called Phoenix. A successful example of the time when the main force pushing for Yiankeji the operation of the main starting from 4-8 yuan speculation, surging straight Chaodao the astronomical price of 126 yuan. However, with the players of the accident Lvliang speculative investment in camouflage had finally been stripped of equipment is a prototype.

In the new century, securities investment funds have become the leading force in the market, many to pursue in good faith based upon the value of their investment philosophy, but also about a year the proposed projects, they found that the situation worse still, they were in the original pincer attack from both inside and outside into: First, tenure system, moderate and not allow them to engage in what is the value of investments, and second, a number of investment capital to use guerrilla tactics of harassing them, from their mouth snatch. Out of the so-called value investing philosophy contributed to their overall losses, prompting them to realize that value investing does not mean that long-term shareholders, so they started doing band, with speculative Trader manner the concept of value investing.

后来QFII加入了沪深股市的混战，QFII基经们挟浪浪洋风远道而来，当然要高举价值投资的大旗�? QFII based upon high-profile also declared their practical value investment philosophy is to pro-attend to the specific ways to listed companies to field research. However, soon QFII he showed his flaws, the so-called research, not so much research operations of listed companies, as it is a banquet guests, looking for friends, develop informants. QFII's so true Jiaoren laughing research, develop informants, this is not a native of China at the beginning of the last century the main dealer who had played the tactics Mody?

The past two years, the so-called thematic investing rampant. Entered in October 2006, G Unit, the curtain call, S shares the stage, some people of insight in new investment in Shanghai and Shenzhen stock market rhetoric coming out immediately, saying that S shares are not represented by shares of stock changed since then become a scarce resource in the future should be Fried S shares. Suddenly, your is a valuable, worthwhile is necessary to invest, carefully try to figure out the rhetoric, or original aim, could not escape the speculation instead of focusing on stereotypes, or only the value of speculation as an excuse.

Essential characteristic of the virtual nature of the stock market has determined that it is very suitable for speculation. Whether or not such speculation on how 72 changed, how varied, how Fuyufanyun, how the times, this kind of nature are always can not be changed. In this regard, the participants do not have to be denied, do not have to avoid, but also no need to dress up, what sort of investments it looks like. In fact, said to be speculative worth mentioning that investment worth mentioning, however, this strange name for itself and then fresh again not important, it is important to always be its essence.