2007The annual analysis
2007Annual October
LStructural adjustment
LPolicy and fund
LHave entered receipt
LThe stock market becomes macroeconomics
L50The bull market
Chinese the stock market is in a big bull market in coming 50 years, as if among past 18 years is in a big bull market is the same. Each decent adjustment is very good to build storehouse opportunity, this is the opportunity that we are waiting for. Present market already the overdraw of short period many wrinkles, we believe that this opportunity will not be very distant. We have chosen some strategic visions to build storehouse kind , prepare the proper long-term running after price intervenes. On this foundation, seek the opportunity of tacticalness again.
3, itMacroeconomics
Seek opportunity from top to
Important
1Important factor
2The coherent special
3Agricultural
4The consumer goods
5Government
6Knowing to
Know toFactor of production()The rising, so, may not only alleviate the pressure of appreciation , and is helpful for domestic economic industrial upgrade and structural adjustment. The former price of essential factor quilt artificial the reason of lowering is that domestic wealth is not enough. Therefore inflation is inevitable. This kind of inflation more expression can also bring the inflation of lower reaches certainly on factor of production. The road of reply is to improve income distribution , is distributed especially increase for the transfer of low income crowd vigorously. The opportunity of place profession has shown essential factor, now, catch up rise to have greater uncertainty. However, possess the enterprise of important essential factor, if be not in great demand, price is also not very unusual , deserves to pay attention to continuously still, especially its essential factor worths the enterprise that hides to compare deeply.
Natural resource and energyThisThe Chinese enterprise group in development are a kind of great pressures. But it is to have relied on the price of essential factor with low price that these enterprises can develop in the past. Now, their overall strength is powerful, and China is conforming with world , if the domestic price of essential factor is still low, together with RMB, it is low to estimate value, aftermath is essential factor quilt world capital plenty of plunders, this is very fearful. The benefit of wages rising may directly increase the wealth of low-income group more obviously.
The investmentMay plunder partially, these money participate in speculation only, under the market environment of government dominant, will inevitably lose part to other aspects. Natural some can also gain a lot, but can also expose trace therefore , it is better that this works hard than government to seek.Therefore for estateThough now have certain risk in relative Gao Wei in, but see for a long time that there is still great opportunity. Poor expands because of knowing the loss received may pass to remedy for the plunder of hot money, dark money and grey money, and this kind of plunder goes on greatly through estate and stock. This is the different place of China and Southeast Asian market, becauseGovernment and its partners( fund, QFII, the.
The rising of the price.This is also potential huge consumer group and
Essential factor, but final result will not be general rise , but is to embody a kind of structuralness change. It is opportunity that this is huge for controling cost and demand efficiently and has the enterprise than strong price ability, otherwise, it is sharp and empty.
Since knowing to expand ,Chinese liberation, resemble the adjustment of the stock market only the same intermediate have to know to shrink just. The China in the future know to expand can still maintain original situation, however, speed can accelerate.
Therefore possessHelp lows the rich enterprise of income crowd, as well as it is huge to be able to control cost and demand efficiently and it is our key attention to have the enterprise of stronger price ability. For exampleEnergy( especiallyWait.
ImportantInterior
1Interior need
2Interior need
3Interior need is the
4Interior need may be
5Consumer upgrade
The problemChina when is dependence international market before mainly, because the consumer ability foundation of home market is insufficient seriously, this causes the input of huge mobility , is the important source of Chinese current problem. If this kind of condition is continued , together with RMB appreciation, the problem that expected, Chinese mobility excesses will become serious day by day. At the same time, domestic essential factor will be plundered in large quantities by international capital with very low cost, in the accomplishment of reforming and opening up of China will fall down to international capital hand. Before, the developed countries such as America are to rely on its consumption market deal with Japan with financial capital with this kind of means South Korea and Taiwan.And them difference is , China has huge home marketThis is Chinese government why the input of increasing for countryside, deepen the reform of the system of social security, increase is for the reason of the transfer distribution that lows income crowd. Should pay attention , these funds major come from middle class and rich person, because of government and with it the enterprise and department that is closely related go to lane from the stock market and Fang city come to in money, natural is come from middle class and rich person. At the same time, government also distributes income on public opinion and action to rise to strategy, is high. This is not only helpful to stabilize harmony , is also the crucial step that starts interior need. BecauseIf interior need relies on having personFor example, recently on media, it is a signal to criticize the possession of rich person for public resource without restraint. From this angle, countryside demand becomes cultivation focal point because potentiality is huge.The company that can promote agricultural production and countryside construction deserves to be paid attention to for example good seed, chemical fertilizer and the company of farm chemical. Consumer upgrade is also a kind of focal point, for example 3 G.
Excessing produce can rush atLow-priced competitiveness is basic with domesticOnly start interior need and let the price
Investment adjusting control can influence consumption and import, but for export have no influence. Restraint favorable balance and investment overheat are to lift up board, only it is just the road that effects a permanent cure to start interior need.
ImportantRMB appreciation
1Can only rise slowly
2Accelerate the domestic
3The appreciation
4It is basic
5After Chinese majority
6Do not fear appreciation
The problemUnder opening background, foreign exchange has become the mind big trouble of China for the domestic plunder of the essential factor that is low-priced. Before, Chinese very poor, capital control is strict, talent maintains domestic essential factor low-priced, but now, this has been impossible. RMB fast appreciation may solve this problem, such foreign currency can not plunder domestic resource with the price that lows than international market a lot , but so for exporter, can cause crushing strike. IfSlow appreciation may not only promote domestic industrialHowever, the aftermath of this is each road fund, especially international speculative fund the strong expectation for that RMB appreciates , this will inevitably bring mobility overflow and essential factor and the assets such as stock rise considerably, but final meeting along with speculative fund pull out of collapse. What government needs are done is that like the excessive speculation and degree that South Korea comes to control foam government through continued proper control capital project, this should be a important subject with big 17. From this angle, say that banking industry is the focal point of national attention in the time that comparison grows in the future.Because financial institution.
RMB appreciates to offset to cost, have favorable person, but have only national citizen have enough consumer ability, this interests talent compensates the loss that exporter suffers , and the loss of exporter can influence the national ability that takes in and reduces consumption. ThereforePromoting consumption and.
The reason of cheap, purpose is to gain foreign exchangeNow, have entered industrial upgrade and overall. This deals with appreciation the most
ImportantMobility
1The source risk
2The countermeasure of government(
3Opportunity( finance, the opportunity
Mobility:Mobility overflow major source. Especially plenty of dark grey hot money for the speculation of important factor of production and financial market. The biggest risk that these hot money bring is the dark grey plunder of hot money for normal national wealth. This also is government why at the same time support the fund organization of private investor through the organizations such as fund on policy a reason. Since China still carries out strict capital to control , though, international capital can get certain benefit from the investment for China , but will not be major plunder strength, and foreign financial institution can bring a lot advanced thing. Dark grey money can also get some benefits , but have also increased the risk that exposes. Oldest beneficiary is poor, oldest victim is middle class. Therefore mobility excesses with country carry out the big policy of income suballotment is consistent. Certainly, mobility excesses , can get the close control of government. The aftermath of mobility overflow necessity is mobility reduces , because until certain stage has the aspect of advantage, necessity moves up receipt net, account surface profit enforcement.When enforcement becomes trend, reduce will appear , then to overflow next time, make preparation. Now, some kinds have begun to carry out for example some stocks. When enforcement becomes trend, some fine kinds will be killed by mistake, this is the key opportunity that we pay attention to.
The financial capital excessive export Americas such as America are round to dodge the creditor , have at the same time done through his financial capital plunder country wealth repeatedly. This is also the important reason that causes Chinese mobility to overflow. Therefore China can not relax easily capital control. Financial institution must insist to resist for a long time , strengthens self.
Mobility overflow necessity brings not proper over-investment, when fund cost raising, profit fund enforcement, at the not suitable time of showing of these investments, can also form to reduce pressure. This is a important motive force of market adjustment.In a word, we think that market will have.
Mobility overflow also let government may plenty of last a plate of shares, establishing the capital market of multiple level, perfecting market system, developing obedient institutional investor and comparing effective when use the condition system of lower limit of international capital its plunder share. The government in this wave quotations has been completed is very multiple to want task.
When mobility overflow changes into the time of reducing , take out to flee fund will become general mood. Excess supply makes investment to glide , demand is insufficient, consumption is weak, this is not that government hopes the condition of seeing.Avoid this kind of condition, have only the economic and capital market for overheat with active government to carry out adjusting control , so as less reduce to avoid that the future is larger to reduce. This is we near futureCreditIt has not been fresh matter
Mobility problem is the big problem of the life or death of life and death that concerns Chinese economy, financial institution is in should convection moves the front of sexual problem, so for financial share, should pay attention to continuously.
The structural
1Terminal
2Science and
3Take in to
4It is good
5It has world to
The problem:The investment of factor of production is too much, terminal consumer investment is insufficient. Industrial proportion is too big, service industry and the profession proportion of science and technology are too little, agricultural development is too slow. Credit is thrown mainly to manufacturing and infrastructure, and service industry and the profession fund of science and technology are insufficient. Economy is serious for relying on for export and investment, consumption is insufficient. Rich person is economic and developed , poor economy does not shake. State-owned enterprise and monopoly enterprise take money to be easy too to spend the private enterprise with too casual money and high efficiency , are pressed especially medium and small businesses by dozen. The public product national inputs such as educational housing medical care are insufficient, luxury goods and housing consumption are too big, extrude the consumption demand of generality.
Fiscal policy will play leading role in structural
4 and investment
1Revolve around appreciation , know to expand , the big macroscopic problems such as interior need and structural adjustment the opportunity that brings founds strategic combination, choice related benefit profession and company, it is the agricultural environmental protection of energy saving mainly, energy resource equips manufacture.Thorough is studied ( from top
2It is detailed to plan ( is from kind choice to storehouse position disposition, it is two that heavy storehouse kind does not exceed in principle, every kind match storehouse proportion principle goes up do not exceed 30%)
3Emphasis fund management soft breeze
4Strategy and tactics, strategic disposition
5Make up investment(ItMay reduce risk
6Strict discipline, please
Appendix
The essence
1Mainly with financing
2Taking in distribution structure
3Foam will be expanded
4, to control foam,
The ChineseGeneral capitalAnd China is a gambling houseCertainly, the financing function of China also has somewhat, however, this two role which ones more important is really hard to say very much. The game rule of this gambling house is still not transparent, because you must want to know that policy how to change you to make money.
The distribution of wealth, cake does isThis is the worldWealth is concentrated in the hand of.
- - -Comment: It is that foam will break. Through foam, change many dark money into clear money , is helpful for country to start to redistribute. Though, can also implicate a lot clean fund, but the person of rich speculation risk bears force to compare winner , will not cause great social problem. Additionally, this kind of foam is alsoWealth is concentratedInevitable aftermath, because these money are inevitable to find out road, the best method is to buy the stock and asset of material object , has no other way out. Through foam, country may at least divide the pretty big part in which. However, other is not that so rich national citizen is also compelled to therefore pay out cost, government goes on transfer distribution taking care is another to criticize more poor person.
Appendix
Hold a plate
1Stock must have detailed analysis report
2From fund manager carries out overall
3Basic operating
AIt is primary principle to protect book. No matter when, is declining 5% 1 / 4 that must stop to harm to build storehouse money above , 10% 1 / 2 controls , 15% must basic stop harm completely, overall loss range can not exceed 10% absolutely, if have special reason, needs break through above-mentioned restriction agree subject to all member discussion.
BAdopt to build storehouse France gradually,
CAccount surface profit regards as cash the same protection, carry out account surface in time gradually to get profit , in order to avoid that take roller coaster. Account surface profit at least wants to be able to carry out 70%, by operator flexible grasp, step and stop harm is similar. Adopt to track stop harm etc. tool.
DInvestment plan will explain how to invest in the risk that is faced with , is biggest as bearing to lose , as well as preliminary definite minimum goal repayment combines above-mentioned measure to explain that self will control risk and realizes profit. Risk remuneration than must be in 1: 3 above.
E: The biggest weight of each investment does not exceed
F: Evaluate asset net value and
F: Must consider a few of investments from the angle of customer overall asset disposition. For the account with big amount of money, will carry out personalized management. The account with little amount of money may pool big amount of money to carry out unified management.
G: Share operating scheme the condition of profit and loss of must refer to tendency and customer account ( should establish classification monitoring system). For do not get profit or get profit little account, risk control must be more strict. For the account with more profits, it may be radical somewhat , but can not also violate principle usually. The especially new risk control of account will be grasped sternly on the foundation of established standard.
Me: To consider to scatter the problem that melts conscientiously , be to realize with the stock of different type mainly, the bond of exchange trade and other investment tools also deserve to be considered. Bond not only has more low risk , and may offer trade opportunity when stock has no opportunity.
J: When geting profit
K: Till initial, harm the 90% with line of capital, after capital rising 10%, stop harm line is still the 90% of capital , in capital rising 20%, stop harm bottom line is capital. Rising 20% above, stop harm the 110% with bottom line of capital. Under what kind of condition, loss can not exceed the 20% of customer initial fund.
Preservation does
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4Stock must have detailed analysis report
5From fund manager carries out overall
6Basic operating
EIt is primary principle to protect book. No matter when, is declining 5% 1 / 4 that must stop to harm to build storehouse money above , 10% 1 / 2 controls , 15% must basic stop harm completely, overall loss range can not exceed 10% absolutely, if have special reason, needs break through above-mentioned restriction agree subject to all member discussion.
FAdopt to build storehouse France gradually,
GAccount surface profit regards as cash the same protection, carry out account surface in time gradually to get profit , in order to avoid that take roller coaster. Account surface profit at least wants to be able to carry out 70%, by operator flexible grasp, step and stop harm is similar. Adopt to track stop harm etc. tool.
HInvestment plan will explain how to invest in the risk that is faced with , is biggest as bearing to lose , as well as preliminary definite minimum goal repayment combines above-mentioned measure to explain that self will control risk and realizes profit. Risk remuneration than must be in 1: 3 above.
E: The biggest weight of each investment does not exceed
F: Evaluate asset net value and
F: Must consider a few of investments from the angle of customer overall asset disposition. For the account with big amount of money, will carry out personalized management. The account with little amount of money may pool big amount of money to carry out unified management.
G: Share operating scheme the condition of profit and loss of must refer to tendency and customer account ( should establish classification monitoring system). For do not get profit or get profit little account, risk control must be more strict. For the account with more profits, it may be radical somewhat , but can not also violate principle usually. The especially new risk control of account will be grasped sternly on the foundation of established standard.
Me: To consider to scatter the problem that melts conscientiously , be to realize with the stock of different type mainly, the bond of exchange trade and other investment tools also deserve to be considered. Bond not only has more low risk , and may offer trade opportunity when stock has no opportunity.
J: When geting profit
K: Till initial, harm the 90% with line of capital, after capital rising 10%, stop harm line is still the 90% of capital , in capital rising 20%, stop harm bottom line is capital. Rising 20% above, stop harm the 110% with bottom line of capital. Under what kind of condition, loss can not exceed the 20% of customer initial fund.
- - - - - -
2007The annual
Summarize:
*Our work is to
*How to catch
*We will ask according to repayment and the risk of customer , as well as deploy scheme for the judgment of market for the asset that customer offers individuation , are formed by the combination of steady type and radical type, development management is feedbacked at the right moment.
*We will ask according to repayment
*System trade: Combination is analysed basically, technical analysis and the analysis of behavior ( psychology ) form may the flexible trade system of utilization, do business according to operating planned and trade principle.
*The structuralness adjustment
Second page manages
*Our work is to
*Is declining can create more than rising to buy into opportunity, buy because our strategy is reasonable price after high quality stock long-term running, instead of is short and fried. We pursue enough safe limit to deal with the concussion of quotations.
*We do not foresee the tendency of short period, because it can have the correct rate more than 50% if historical proof has no person. For quotations, we are the law with past analysis mainly , give different probability to the long-term possible tendency in the future, but foothold is current. That is said, we give certain probability according to past and current message to the different development direction of quotations when " now " is this, is used to deploy us with now storehouse position, and according to the change of related condition, carry out development adjustment.
*For every each specific investment of account, we put it to consider under the background of the overall asset disposition of customer. Because for customer genuine meaningful is final overall result.
How 3th page catches
*We select to have
*When being declining
*Wealth of society and the
*The structuralness adjustment
*Get country to support , it is
*Resource and new energy
The NBA of 4th page
*Steady
*Keep forging
*The assurance
*Make up the repayment requirement
*The share general main business in combination is powerful, cash flows out the ability winner of very good, continued development , can offer steady reliable profit for customer. Even if market adjustment, company also when is steady to make money.
It5Page risk control(
*Stop harm and stop profit,
*Storehouse
*Hold high quality
*Make up management: The kind of different
*It is regular to trade and operation plan:
It6PageSystem trade(
*Basic analysis, technical
*Implement the operating
*The most important
7th page: Wealth: Basketball
10On month 10th, a customer gives us 10 million Yuan to manage. This customer is 50 years old , is engaged in trade, offspring have stood independently , live together with Madame, family harmony has the room that has vehicle, life has no worry , has enough safe and cash reserve , has no other investments.
This customer hopes to be able to get the repayment more than annual 10%( natural is the more is that is not comfortable high the more good) under the condition that guarantees that capital does not be lost , it will feel that loss exceeds 10%, exceed 20% will feel that cannot bear. This customer makes investment for finance, have certain understanding, but in the past, own operation not quite succeeds , also has no too many time to pay attention to market.
Process analysis, we the ability of thinking that the risk of this customer is borne comparison winner, but the wishes of bearing risk is more low, repayment has more mild requirement. The time limit that may be invested in grows relatively, mobility has more low requirement. May synthesize with the tools such as stock, bond, foreign exchange and gold to satisfy its demand. But since we now do not want to pull battle line , have to grow too, so, we, mainly with the stock of different type, carry out the demand that asset disposition satisfies customer.
At the same time, we are for the view of recent big plate: Process stock company, Ministry of Finance, the country big fund of name of the shop, QFII, other big funds draw blood in turn, government for the present situation that middle class suffers exploitation on the stock market have produced comparison the risk of winner consciousness. Chinese the stock market uses the flesh and blood of middle class as the good gambling house that has only a small number in global the stock market to build. In every case matter will have limit, play beyond the limit can arouse social instability, this and 17 big spirits are inconsistent. Is passing many risk hint , government already can not tolerate speculative continued madness to go down , especially can not when seventeen big around continued madness.
Support is a plate of to go up some crucial factors of trip: It is low to estimate value, achievement, undertake interest rate, make money effect, have been consumed nearly let even when to turn over direction transformation. So-called mobility excesses , however is fund therefore to the external expression of the flow of the stock market just. So long as prophet person carries out in advance, big plate will be faced with very fearful situation.
What deserve to be noticed is that government has begun to supply. 5.3 is one preview , is successful to have struck the speculation of rubbish share and subject share, but also help key main force has carried out partial chips. Soon afterwards, the quotations of blue chips again lets private investor confused front line, Gao Wei must get with the private investor of wind to give a lesson again. Control bank loans , straight interest rate, center ticket, special national debt, actually, there are still the brand of many governments on hand. What is strange is that even if when under so many advantages leave empty , big plate still maintains strong tendency , is seemingly not normal. Actually, want to come carefully, a important reason is: Present main force in with government is closely related have taken majority, this kind of abnormal situation may shield banker dispatch in, let little private investor is numb. That is said, government and the coordination between main force is more close. As the fund that has no government background , though, our fund scale is but actually also the set of private investor relatively and becomes , therefore now, we should keep high and alert. At the same time, we when positive wait the opportunity of appearance after returns tune. This kind of return tune possibility is to coil to return tune , also possibility is structuralness return tune. As government, surely expect the latter, but since is very serious even as the foam of blue chip, government may not can control overall situation strictly. Therefore so long as our stock pool does not be too little , the possibility of waiting opportunity is great.
In the aspect of profession, we value resource, new energy and agriculture , consume to escalate , the environmental protection of energy saving. Because the new countryside of China builds , the raising of Chinese living standard, China when reduce with great efforts for export rely on and start interior need, China is faced with very serious resource, energy and the problem of environmental protection.
The thin branch field tap of other powerful main
Is in the aspect of share , we discovery even if at present Gao Wei, or having stock, it is not high to estimate value. Basic surface especially has good growth very well , is profession tap. These stocks even if when fall the expression that also has excellence in tendency. May be used to found the combination of steady type. However in view of the fact that being for a plate of view , we pay attention to and wait for to build the appearance of storehouse opportunity closely. Once opportunity appearance, we will not hesitation build storehouse. Therefore we must guarantee that going to time have the enough cash that may use , this is we why is now needing the reason of fund.
This combination has not only guaranteed the safety
Therefore therefore on the disposition of asset, we found the combination of steady type in initial stage with the stock of steady type, major from estimate the stock composition with low value. This kind of stock resists very much to fall , for example 00091*, 00097*, the * of 60.132 thousand. Amount of money takes 30%. At the same time, in the stock of fine basic surface that shows strong tendency , it is not so cheap stock to participate in estimating value somewhat, feel according to a plate of surface, message advantage and technology etc. go on operation. Amount of money takes 20%. Additionally, take 10% of funds to catch short line hot opportunity. Other 40% is used to hit new share. Operating major dependence is analysed basically , combines technical analysis feel with a plate of surface to find suitable admission point and come on the stage. ( is October this will surely change. )
Risk control
1, stop harm as if brake, it is out of control to be able to avoid , when use , must use , because right now, market has proved that self is wrong. But if use frequently, explain to drive technology has problem, instead of stop harm have problem. Stop profit is used to protect profit, may in a planned way is multi-purpose somewhat. Various situations are wanted in control. For basic surface, it is good , has the stock of imagination space, stop harm may set up throw 1 / 3 in 5%, 10% throws 2/3, others does not be moved ( unless basic surface deterioration), for having no the stock of base air for having no the stock of base air, when in hour, arising phony form on line, will begin to reduce storehouse step by step , till 2%, harm half, 5% all stop harm. Stop profit major basis a plate of situation, for the understanding of basic surface, technical form and a plate of surface are felt. If belong to core, hold storehouse, and a plate of situation far from good, take advantage of offensive head go , reduce storehouse gradually according to technical form it is weak. If confidence is very enough, reduce storehouse range may reduce , incline hold for a long time( half or more). If belong to to have no the general stock of base air , should reduce storehouse firmly , carry out profit in time.
2, storehouse position control( because of judgment is a kind of probability always for being wrong , mistake is unavoidable, so, the storehouse of increase and decrease should go on gradually , is used with risk remuneration than combination , melts carefully into operating plan. For example, risk remuneration than is 1: At three o'clock, stop harm three times and stop profit once may offset mutually. Or say that may be wrong in four times three times and do not lose , if increasing storehouse position in time when geting profit and at the time of loss, the frequency of being wrong and finishing in time is more. But if often harm till use, will introspect own operating plan. )
3, hold excellent quality( will but buy with reasonable price to enter. The foam before 2001 and soon afterwards break have inflicted heavy losses on middle class, have created to QFII and the institutional investors such as fund good build storehouse opportunity)
4, combination is managed ( is long term to look , the 90% of profit comes from asset disposition instead of share choice. On this, fund is studying to QFII , but it is QFII to study the not quite good, best learning object. )
5, it is regular
Classification manages account, personalize asset disposition: Life period, financial situation( wealth measure and source, in correspondence with risk, it is good, character type), investment experience, risk ( ability, wishes ) are restricted with repayment goal( the / priority of time limit, necessary repayment and ideal repayment are protected , appreciate , bonus), the expectation for capital market, cost, investment strategy( is positive, it is half actively, it is negative , worths , grows up , market trend,).
Insurance and cash are reserved , the assets
Establishment investment policy description the problem that should be considered: 1, have the unfavourable aftermath and risk of short period which? 2, the feelings reaction that occurs? 3 is for the familiar degree of investment market? Other what capital and income source has 4? 5, is investment combination for the importance of overall financial situation? 6, the influence of legal restriction? 7, do you make up the influence of unexpected fluctuation to investment policy of value? 56.384311 million
Customer risk
1If you are the staff member of a company, in company's football match after geting the bonus of 2000 Yuan, you will buy general merchandise used in a, b buies lottery ticket, c buies bond, d buies stock
220First price has bought certain share 1000 afterwards,
3Big rise , you will a, regret has not been bought
4When traveling , travel agency offers expenditure and the travel set meal of 1500 Yuan in the project travel service of free optional of 1000-3000 Yuan, you will a, select set meal, b inquires the c and person that has gone before , selects the project of free optional , but sets up the upper limit of a expenditure, d selects the project of free optional
5You rent room to live room price is rising ,
6You are the high pipe of a stock company , may buy our 20 thousand stocks with the price of 10 Yuan, company's development very quickly, you will a, buy 20 thousand, and it is more to want to buy , it is 20 thousand that b buies , it is 10 thousand that c buies , d buies 5000 following 64.401863 millions
7When gambling house, do you select
8You have gone to a strange city, ask others to have meal , you will how to select local a, seek on newspaper, b asks colleague and c , asks you in the friend with this only city, he often asks others to have meal in this city, but go to this city also not very for a long time, d investigates on the spot
9Your life attitude is a , will be bold
10The attitude of you for money is a, a Yuan that
1423/4132/3421/2314/3421/4321/1324/2341/4321/2314
Though, theory is pleasing to the ear , is empty after all. Team curriculum vitae is pretty , is also empty. What customer cares about is action and achievement. For example, is team doing those projects? Why do? Ji effect how?
The big
" rope-The person that goes before the curve
P44, it is very prudent that I am all right for contrary city, the tendency that I may meet with disastrously is ravaged. Basis my tendency theory, tendency initial meeting self reinforcement , final meeting self-destruction, therefore under the most conditions, tendency is your friend, have only when the climacteric of tendency change tendency follower can get injury. The most of time I am tendency follower , however, I at any time alertness self is a member of masses, it is always noticing climacteric. ( now is just should alertness time)
P46, I do not hope to
P57, in group enterprise upsurge, group enterprise uses the stock that they estimate high as currency , purchases the ability of profiting , the ability of profiting is used to prove that the stock estimated high worths soon afterwards. - - - - - conflicts between so called basic surface and value and is not regular to occur , however once occur, will promote a kind of beginning self reinforcement , but soon afterwards meeting the process of self failure.
In usually appraise behavior can include some mistakes, the most common mistake is: It is basic as can not find out to worth , can not actually stand independently besides appraise behavior, group enterprise upsurge is so, each surplus growth rate may rely on taking over manufacture to come out ( this is Chinese the stock market when the matter that occurs ).
P58 however, condition is not throughout so. Japanese land upsurge is not wrong , is the action that may have foresight , Yi is encouraging save , lower living standard in order to pursue larger honor.
P59/61/69/70/72/147/166/167/168/200/231/232/234
Summarize: Chinese the stock market is in the stage of self reinforcement obviously, is helping government to realize some important goals. But if can't get effective control, move towards self-destruction very probably, however, when reach critical some now to be hard judge. Quotations goes to critical point, will arise biggest opportunity. Demanding Luo Si rely on this kind of opportunity is developed. Worth basically, appraise behavior, market mood, it is key attention to coil to hold a plate of hand( government, stock company, big fund etc.). In the future, should establish classification monitoring system according to the crucial factor and crucial main part that influences big plate.
The share
Though because for it basic surface does not know , and big a plate of situation is subtle, so apply stop profit , stop harm , the repayment after storehouse position management and risk remuneration get biggest risk adjustment than etc. fund management tool.
The steady
It is good from basic surface , flows out good stock composition especially main business and cash, when reasonable price buies into rear long-term running. Hold for a long time on principle, but at the time with larger assurance may the running of wave band. Analyse thorough basic surface + tendency judgment + technical business some + market behavior analysis + fund management tool cooperates with to use.
The growth
From basic surface in look possibility have better to make up steadily stock is so reliable, but in the future, the stock of good growth forms. Running way and steady combination are similar, but incline in the repayment of pursuing comparison quickly and bearing larger risk.