What are the current characteristics of China's stock market are not the only one characteristic,Bailey UGG boots, that is, up, up, up, by 1000 rose to 2000 points, rose to 3,000 points from 2000 points, then rose to 4,000 points 3,000 points, it does not require base analysis, technical analysis does not need more. any revaluation, system premium, the demographic dividend, RMB appreciation, performance of listed companies and so on, these concepts and methods in the current market are of no use one. What the basic theory of finance, what Investment analysis tools, what their historical experience and his country, in the current China's stock market have become synonymous with the old and antiquated.
when the May 9, 2007 the Shanghai Composite Index above 4,000 points set foot on, investors In the midst of cheering among the market in the midst of cheering, and because the effect of the stock market to make money again and again in the amplification and enhancement. also, as has said, in such a market, the value of state assets to regain publicity, and personal investment to become is a specific, state-owned enterprises began to shift resources from the turnaround of optimization, in a word, the current Chinese stock market by numerous individual rationality into a big fallacy of competing or non-rational, that is, an analysis of the current stock market can not find a tool or concept of the !
very simple, a value is not value for the state-owned enterprises listed on overnight just because of wealth can become a cornucopia of state to be able through its tangible and intangible value of public authority allowed to expand exponentially; there is no basis for a personal credit, there is no effective legal system to protect the stock distribution of social wealth overnight become the ticket; and when the market is full of state-owned enterprises, not state-owned enterprises that dominated the market is not efficient concerns, had become a reason for the soaring stock market. according to the above reasons, said the current China's stock market had no concept or tool can be analyzed, how the remarks rose to become the reason! As the philosopher said, at this time, do not say that is the best.
However, rational thinking and the reality of economic life, there is a big difference. speculative and rational thinking in any case, only the individual mind that the metaphysical thoughts, as long as no one listen, to understand the impact and lead to consequences is very limited. However, the actual economic life can not, if many individuals can not synthesize a rational analysis of the concept, regardless of the fallacy of non-cognitive understanding and rational when, and only The fallacy of this analysis is not the real departure from the economic life, and the market contrary to law, and the most important issue is the redistribution of social wealth or re-shuffle. If things really happened, we really see kinds of phenomena but do not say?
If, when a market or a stock market no longer a tool or concept can be analyzed, then the market madness has to be added beyond the point. because no one economic behavior is economic behavior can be analyzed, any market is the market can be analyzed, otherwise the world numerous economists, many economic analysts do not reason for existence.
current Chinese stock market is not that it's not crazy Analysis sex, but both China's stock market characteristics determine it must be a crazy stock market. As we all know,cheap UGG boots, what the characteristics of financial transactions, is through the uncertainty of future payment in case of down spread the risk, have a valid financial contracts that guarantee the future payment of fair and reasonable. So what is the characteristics of the stock market, as a special kind of financial transactions, on the basis of the above but also the performance of stock market trading and the flow can be extensive, the performance of the stock market purely impersonal transactions.
how to not have a good credit system and the rule of law, transactions in the real economy, its various acts of fraud are often occurs, then also because of the characteristics of stock market transactions, it is provides a variety of fraud infinite space and a new level. trading in the stock market, not only easier for a party deceived, but also easy for millions of people cheated. In order to avoid or reduce the occurrence of such fraudulent acts , you have to use a strict credit system and legal system to guarantee the rights and interests of market investors will not be violated. and this legal system is not only economic transactions than the general physical arrangement of the system ask for more, even than the other institutional arrangements in financial transactions more demanding. But to the actual situation, the credit system in China's securities market is not only insufficient, and lack of relevant legal system to protect the interests of medium and small investors.
can say that if the 1990 The two exchanges in Shanghai and Shenzhen have set up as a symbol of China Securities, China's stock market has been followed by rapid development, many listed companies not only to raise a lot of money from the stock market, which prompted the rapid growth of some companies or industries. But we it should be noted, the domestic securities market institutional lack of preparation, so that China's securities market from the time of launch, China's stock market investors to participate in wealth creation and not to avoid future risks of the market, whereas the financial state-owned enterprises has become crisis mode, medium and small investors bear the results are not creating wealth but the costs and risks of state-owned enterprise reform.
In this case, although the Chinese stock market to a certain extent, the state-owned enterprise reform and the spread of risk and cost of economic reform However, protection of shareholder rights and interests of organizations,UGG boots cheap, to fulfill the contract system, credit system, development of securities market can not be established. because a conflict of interest between the Government and the securities market too much, too much government intervention in the securities market, which makes the Securities the independence of the rule of law speak of the market, securities market development system, credit system, the premise is not established. Since the establishment of social credit system can not the government securities market development in China can only become the ultimate guarantor of credit.
the Government credit transactions of the market for a final guarantee,UGG bailey button, when the investors in the stock market trading profits, investors will have all of its proceeds go; trading losses as investors in the stock market, investors will inevitably count its losses to the Government . Meanwhile, when the whole stock market when credit is guaranteed by the government, coupled with financial institutions, listed companies and market the final dominated by the government a controlling stake, it will inevitably encourage those in charge of these listed companies and market madness those in charge of financial institutions way to manipulate the market and pushed up stock prices. because the madness of the winning individual or entity has been Italy, the government reveal all the details may be lost. Since the listed companies can be, small and medium investors in the surface of the wealth effect, the will mad into the market. This is the current source of China's wild stock market speculation.
can be said that the Chinese stock market does not establish the basic system, the market will not change the speculative madness. This is the Chinese stock market over a decade of reality. Moreover, the basic system is not the stock market generated a day, it is a very long process of evolution, in particular, China's stock market is to require the credit system more time to nurture. If the entire market transactions is the credit but no credit, then the entire market transactions What will be, can only be a wild speculation. This is why China's stock market is not currently available analytical tools reason.
No comments:
Post a Comment