to guide future reforms to guide market operations is extremely harmful.
2011-12-16 parašė candybootsHow the future market? December 13, the Shanghai Composite Index closed at 2248.59 points, back to June 14, 2001 origin.
Of reflection, scolding one after another, including institutional investors on the expansion of large sheet of fuss. For the A-share market to reflect Nishajuxia, three of the typical point of view - A shares fell because of expansion caused by the stock market is bullish because it is not lack of funds, Walden mostly led the market is not rational - not only in theory is wrong , to guide future reforms to guide market operations is extremely harmful.
A-share market, based on the foundation of error. Bank of China launched the stock market as a complement of indirect financing, and finally there is a market can not return, not dividends, without interest, but to get a steady stream of funds.
A-share market from faith, from the return, the highest in the world Mo Liu, from the expansion in terms of scale, it is a global leader. June 14, 2001, A-share market listed companies a total of 1064, the total market value of 4.874081 trillion yuan; December 13, 2011, A-share listed companies, bringing the total to 2329, the total market value of 21.994209 trillion yuan for the 4.5 times 10 years ago. A substantial increase in market value of shares in circulation to 16.768581 trillion yuan for the June 14, 2001 (1.628455 trillion yuan) of 10.29 times.
Stock market expansion is not wrong, wrong expansion of no return for the equivalent of the wealth of the people through legal channels transferred to the hands of a listed company, and these companies share price rise, price-earnings ratio dividend to enhance the grounds, and Buffy itself frequently characteristics comparable to the market stingy, in fact, decline in the quality of assets, profits and economic growth by monopolizing the currency cycle. In the case of aluminum and other central enterprises, the majority of private enterprises in the same way.
When the market makes more money into the bank, said sorry, the so-called safety moat, but the decline is more than financial stocks, banks race to start re-financing, the first half of this year alone, 16 listed banks have announced the 14 re-financing plan, financing involving a total of 515.65 billion yuan, it’s not outside the stock market bond financing. According to the central transformation of economic development requirements, assuming the next five years the average annual GDP growth rate of 8% or 9%, to historical experience, the corresponding average annual growth rate of loans of 15% or 18%, the banking industry needs to add the next five years level of capital from 2200 to 2900 billion, an annual 440 billion to 580 billion. The stock market as a discharge port, as an emergency source of funds, the end result is to make the same A-share market and the Bohai Sea, a Dead Sea, all of the sewage discharge of this, in the farmers never get reasonable compensation.
A-share market was lower because of a mismatch of resources to inefficient enterprises, the hands of dishonest executives, by virtue of their control, for any time in the stock market Midas touch. If the majority of China’s A-share market companies to return to the investors, expansion, financing is not a problem.
Immediately after a mistake from the previous error. Because there is no return, because the mismatch of resources, often leading to A-share market down and ran off from the expansion, while the uplink is expansionary monetary policy with a lightly walls.
In such a strong stimulus, many investors have a Pavlovian response, A-share market is mistaken because the expansion, and up the premise that monetary easing. Therefore, every cycle of disease onset of A-share market, investors are urged to ease monetary, suspend issuance of new shares, policy makers respond to public opinion, the administrative decision is to suspend issuance of new shares. As a result, A-share market system there is no improvement, just get a breathing space, so rich and powerful companies and individuals can set aside under a gluttonous appetite for dinner.
Monetary policy is a prerequisite for the bull market is not so important, large-scale monetary easing can not usher in a bull market for the simple reason that inflation is no bull, no bull more stagflation. Look at the Nikkei, is still struggling in the quagmire of 8000, in a 20-year period, the Bank of Japan quantitative easing is not it? Look at the A-share market, M2 to GDP among the world’s total, A-share market to form long-term health of the bull market it? 6124 points is caused by loose monetary policy do? No, it is not really tradable share reform implemented after the window period, so that investors get a moment’s breathing space.
Because the stock market down, irrational accusations that Chinese investors, retail investors too much. This is even more funny, who is to do with the name of the value of investment trends in investment? Who is investing in the gambling type, Chongqing Beer? Who gave the GEM times price-earnings ratio? The institutions, agencies, or institutions. In the old 1000’s Casino, the impossible too rational investors who always want to cheat more and more profit.If you like the prairie and like the large group of cute sheep, I bet you will love the ugg products, such as classic short ugg, slippers, sheepskin rugs and sheepskin accessories. My sister was happy for my idea, because the other items may be luxurious, but not pragmatic.Most of these high-heeled boots had a greater height. All boots in the Classic Collection feature a soft foam insole covered with genuine sheepskin. At my first sight of the black women ugg boots nederland Sparkles, I bet that you must be love ugg boots.but ugg cardy classic has his own style and love itself, so popular with more and more people.”UGG” is the trademark of a U.S. Company, UGG Australia. The twin-faced genuine sheepskin used in these boots makes them highly popular. Fashion Rain Boots for Women.
See December 13 China Fund vice president Zhang Houqi released to it, and its vehemence, that “the stock market plunged so, the people blood and tears, powerful pours the world continue to trample on the definitely non-existent secondary market investors interests, the interests of one-sided bias of unilateral capital financing market! in this bloody market situation, there is still a substantial expansion, high-profile talk about the so-called distribution system market, people really do not understand the basic logic of the market economy! “The market has been bad to shrimp is finished, the extent of fish fights. Smiling, and are already tens of billions of cash by the executives, investors who are business income received tens of millions of investment banks.
Ten years ago, A shares of the casino, up to now, A shares are still a casino, but the most terrible old thousand all over the casino. Not eradicate old thousand living soil, no other return, Blue Ocean will become the Dead Sea.