Chapter 42 7. The securities industry - a short desert night

Although there are too many frauds, cheats, and irregular factors in our stock market, as the upheaval continues, the benign companies and investors with good visions that occupy the majority of the capital market, It will inevitably become the mainstream force in China's stock market in the next 10 years. We can be sure that as long as our people always have confidence in the stock market, a healthy capital market will inevitably become the driving force for the healthy development of China's economic system. Topic introduction: Who will save you, China's stock market—God helps those who help themselves

When the severe financial turmoil sweeps the world, it is difficult for us to stay in one corner. When the Chinese stock market trembled due to the storm, the lifting of the ban on large and small non-financial shares, shareholding reform, and the release of positive news... A series of tricks have been released, whether it is the government or securities companies, whether it is enterprises or experts, are all offering suggestions for the Chinese story, In order to survive this severe economic winter. At the same time, the voices of the people have repeatedly asked: When will our stock market return to spring?

In fact, at the same time as this book was being written, the Chinese stock market experienced another round of thrilling plunges. On July 29th, the Shenzhen and Shanghai stock markets plunged sharply at the same time, with a total of 132 stocks falling by the limit. The magnitude and speed of the stock market were really unexpected. , All of them were wiped out within one day, and what was left to Chinese stockholders was a long-awaited injury. In such a sharp market crash, countless Chinese stock investors paid a heavy price. What they paid for their investment is by no means a return. When such a situation occurs repeatedly, it has even become the norm in the Chinese stock market At that time, it means that our capital market is already in deep crisis.

In the eyes of many economists and investors, the dangers encountered by the Chinese stock market are entirely caused by various technical factors. For a while, there are similar "fine-tuning of monetary policy", "capping the rise", and "industrial restructuring" Wait for the rumors to spread. Because of this, we have heard voices calling for rescue. Whether it is the public or some economists, they are all looking forward to an upward momentum created by policies, information, corporate performance, and the external environment. To save the shaky Chinese stock market.

However, if we think about it carefully, we will find that things are actually not that simple. At this moment when the global economy is gradually recovering, our stock market has experienced such a large-scale slump, and if we understand the underlying mechanism behind it, we will understand one thing. It is a crisis that has been planned for a long time, and its situation is so dangerous that no one can save it. We must never forget that none of the tragedies in the Chinese stock market was not caused by the greed of a few people. In the past ten years, there has always been such a group of people in the Chinese stock market. They take advantage of the immature conditions of market regulations, use illegal or even illegal means again and again, and use one after another to cover up the big lies to repeatedly play thousands of dollars. million Chinese shareholders.

It is precisely because of the existence of these people that our stock market has been in danger again and again, our stockholders have been deprived again and again, and the money in the hands of the people has been massacred again and again. In the history of China's stock market, almost every frenzied rise has a dark story behind it. Its despicable means, greedy temperament, and great energy are the black hands that have caused the fate of the Chinese stock market today. For example, in the 5?19 market we mentioned earlier, in that famous bull market, the manipulation of the stock market by capital players has reached a heinous level-a trader wanted to celebrate his boss's wedding day. Hi, deliberately artificially artificially set the stock price of a certain stock to 72.88 yuan on that day, and the date of that day happened to be February 18, 2000.

In every rising frenzy, there will always be a few people who take the opportunity to devour funds in despicable ways, and use the big shock after the rise to achieve their purpose of plundering.The sharp drop in the stock market this time is precisely the best proof of this behavior. In the first six months of 2008, 59 new stocks were listed on our stock market, an average of 10 new stocks per month. We do not need to use market analysis to verify whether it is reasonable, we only need to look at the normal data to get Draw your own conclusions. It took a full 100 years for the U.S. stock market to expand to 800 stocks, with an average of only 8 stocks per year; and it took 33 years for the riskier Hong Kong stock market to expand to 800 stocks, with an average of 24 stocks per year. In China, we have achieved this goal in just 8 years at a rate of 100 per year.

Behind the rapid expansion of China's stock market, there is great plunder.Those stocks listed at low cost, after creating many billionaires, also openly compete with those mature and benign stocks and divert funds there. When China's stock market doubles, the effect of diversion of funds will become more obvious. It can be said that the listing of every low-cost new stock means the plunder of shareholders. In addition, the government's policy on the stock market cannot be consistent, which is also the reason for the phenomenon of "warm for three days and cold for three days".

We can see that every time after the sharp expansion of the stock market bubble, the government always suppresses it with strong policy means for good purposes, and after the stock market plummets due to this, but for this Worried about the situation, worried that the continued downturn in the stock market will damage the annual economic growth, and it will be difficult to achieve the economic goal of "guaranteeing seven and striving for eight". As a result, policies have been introduced to stimulate it, which has triggered a new round of skyrocketing.This cycle goes on and on, so that there is no final date.

As far as the stock market is concerned, its original role is to provide a good financing platform for companies in urgent need of funds, so that limited resources can be optimally allocated, and listed companies and corporate investors can obtain benefits at the same time. Under normal circumstances, The ups and downs of the stock market were originally an extremely simple and normal market phenomenon. However, in the absence of a fair, open, and just system for market transactions, this good platform has become a place for malicious capital speculation. Its predatory and harmful to people's livelihood The destructive nature of it is tantamount to the biggest casino.

When our management and investors have a clear understanding of this, it means that China's stock market has truly emerged from the crisis. Fortunately, this point has become the consensus of more and more people.Therefore, the current situation of China's stock market is like a night in the desert. Although it is temporarily extremely cold, as long as the sun rises, the chill will disappear in an instant. As far as China's current economic situation is concerned, many small and medium-sized enterprises that intend to achieve development need financing platforms to raise funds, and the general public also needs a good investment platform to make up for the lack of income. Both of these constitute the foundation for the further development of the capital market. positive factors. Because of this, although there are too many frauds, cheating, and too many irregular factors in our stock market, as the upheaval continues, the benign companies that occupy the majority of the capital market and have a good vision investors will definitely become the mainstream force in China's stock market in the next 10 years. We can be sure that as long as our people always have confidence in the stock market, a healthy and developing capital market will inevitably become the driving force for the healthy development of China's economic system. where.