Today is October 16, 2008, a year ago today, the Shanghai Composite Index hit a high of 6124 points and has already fallen nearly 70%, and then look back a year later, the peak overlooking 6124 points, I have a lot of emotion.
First, why the feeling is the index to a high of more than 6000 on. Now, many analysts lengthy analysis of 2000 points is a reasonable price, according to the present analysis is the high of 3,000 points,Bailey UGG boots, 4,000 points is a very high level of fear ,cheap UGG boots, 6000 should be a no man's land, but the stock is in 1 year on the 6,000-point, and his followers very public. that there are two main reasons, first, the risk of the investors know little about the market, in particular, is a lack of understanding of the risks of the Fund, therefore, all the way to follow the investment fund on the 6000 peak; the second is the Fund's misleading, if people buy the fund is to understand stock market risk is understandable, then the fund is interested in buying stocks at a high level to do this. In 6000 not a stock investment fund positions is less than 70%, most of the fund's positions are more than 90%, is it that fund managers do not know the risks? Of course not, many fund managers ; Rat direction, the loss of prize money only. Therefore, the fund manager is actually a risk to take someone else's money, make money for themselves. Why Wall Street crash? reason lies in the money for their own fishing adventure benefits. if that is the destroyed Wall Street greed, then greed is also a Chinese stock market to a high of more than 6000. China stock market crash occurred because the U.S. subprime mortgage crisis have exactly the same reason.
If we design a new bonus system for fund managers, financial executives and partial payment of bonuses, cash is only part of the period, most of the year or years after the bonus cash, if there is risk of exposure, he should deduct the bonus, will deposit money into a risk, the investment behavior of fund managers will not look at short term the.
Secondly, the feeling is why the Government to allow the stock market rose to 6,000 points. This is a sensitive topic, the same problems we can not be avoided. Most of the world stock market crash caused the stock market boom, if not the stock market boom, there is no stock market crash. but there is a common phenomenon is that the Government in the course of the stock market surge almost nothing, therefore, the general slump in the stock market to take remedial measures, and rarely for the prevention in advance.
reasons are not complicated, because any policy to stabilize the stock market speculation measures will face a strong market opinion response, last May 30 after the introduction of stamp duty to a series of adjustment policies is a classic example of reaction. from Japan and Taiwan's experience, in the stock market bubble in the process, often have the responsibility of the policy functions of the department of passing the buck situation , everyone on the stock market bubble in secrecy to avoid backfire. Therefore, I hope the relevant departments and the stock market and leading to the stock market Poliang Shui is not realistic. The stock market itself has its own complexity, non-professional persons are generally difficult to grasp, they do not dare to defy world opinion, making money when the others to make improper comments on the stock market Jinglian .2001 gentleman on the stock market made the pertinent remarks in the universal condemnation as the stock market is the best interpretation of this phenomenon. resulting in the cycle m point after the beginning of prompt market risk. This is much better than foreign markets. but unfortunately, stock market, or climb on the not wiser. Although he has expressed concern about the rising stock market, but also on the stock market rising interest rate policies adopted to curb,UGG boots, but the public has been to avoid this problem, because Greenspan knew this was a political issue. the same Problems also occurred in Japan, the late eighties of last century the Japanese stock market bubble continues to expand, there is no risk of the industry have prompted officials expressed or policy proposals, is said to pierce a bubble economy administrators do not understand. < br> All the governments are afraid of the financial crisis and stock market crisis, but no government can avoid repeating the mistakes of other countries,bailey UGG boots, which do have many questions worth considering.
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