The year of the sheep a embarrassed smell fleece from pig flesh to pay-k9084

The year of the sheep A shares embarrassed smell: fleece from pig flesh to pay Sina Level2:A shares of sina finance client speed Kanpan: the most profitable investors in Huitong news network February 6th – 229th period: China embarrassed smell in the stock market on Friday (February 5th) fell slightly, the wave at the end of the last trading day the year of the sheep is not surprised. This day the volume also hit a nearly more than a year of "quantity", if the net in January 7th this year the opening half-hour "fuse" "natural disasters", then the Shanghai day only about 140000000000 yuan turnover is a record since 2014 more than a year in the stock market normal trading conditions low. Before the great day seems to come, investors are melancholy, especially on the occasion of the new year, the departure of retail have early departure. The last day of trading still grappling in the line of investors, are the real heroes, worth a visit. In the stock market decline on the occasion, the broker must be very happy, because there is no trading volume there is no financial transaction commission. Although a large welfare securities company is on Saturday, after the new year for the seven day holiday also need to work overtime again one day, they can advance into the Chinese new year has, but over the past year, the market trend, perhaps even the spring festival celebration, whether investors or brokers are happy, I’m afraid not too. For the past years, the sheep, the performance of the stock market is not a hope "Sanyangkaitai", but it is like the attack of epilepsy: first up, after the jump, various daxitaibei turns staged. So, by the end of the year, everyone’s heart is also five miscellaneous chen. But as long as the transfer had traded investors are aware of, as long as you buy stocks smooth transaction, your book will immediately appear floating losses, even if the stock price did not fall, because of the stamp duty brokerage commissions, exchange transfer fees and government, will be in the investor body "pull out the wool". According to the current trading rules, 0.2% Commission should be paid to the broker when buying, and 0.1% stamp duty should be paid to the government in addition to the equal Commission, and the transfer fee is also charged in the stock exchange. Therefore, buying stocks at least half a percentage point, investors can barely achieve book back, this from the beginning, is an unequal game. Of course, the income of thousands on thousands of securities practitioners, from the investors who pull down from the "socialist wool", the greater the amount of all transactions, trading more frequently lost in this field more funds. Therefore, in the summer of 2015 the stock market turmoil, many investors in the stock market crash scorched by the flames tears, but the broker has taking advantage of the market "stampede" trading volume on the occasion made a fortune. Then later on, new investors in good times don’t last long, bull market account and hurried in bear hurriedly cancel the account after the delisting, the brokerage to lay money is not so easy. So, in the beginning of circuit breakers after the start of "red vests" were able to talk to encourage the reason is that the bull market makes more money for their work, bear work early ", but this early on

羊年A股囧闻:羊毛出在羊身上 却由猪来割肉买单 新浪财经Level2:A股极速看盘 新浪财经客户端:最赚钱的投资者都在用   汇通网2月6日讯——囧闻第229期:   中国股市在周五(2月5日)小幅收跌,波澜不惊地结束了羊年的最后一个交易日。这一天的成交量也创出了近一年多来的“地量”,如果扣除今年1月7日开盘半小时即“熔断”的“天灾”的话,那么上交所全日仅1400多亿元的交易额算是创下了自2014年以来一年多在股市正常交易状况下的新低。似乎重大节日来临之前,投资者都是意兴阑珊,特别是在年关之际,该离场的散户都已早就离场。最后一天仍然拼杀在交易一线的股民,都是真正的英雄,值得大家一拜。   而在股市交投阑珊之际,各大券商一定是不怎么高兴的,因为没有了交易量也就没有了交易佣金财源。虽然,证券公司的一大福利就是,在星期六大家为了之后的新年七天长假还需要奋力再加班一天时,他们却已经可以提前进入过年模式,但回顾过去一年的市场走势,或许即使是新春佳节普天同庆,无论是股民还是券商,恐怕也都开心不太起来。因为,过去的羊年里,股市的表现非但不是大家所希望的“三羊开泰”,反而却像是发作了羊癫风:先上蹿,后下跳,各种大喜大悲轮番上演。于是,到了年底大家心里也都是五味杂陈。   而只要是开过户做过交易的股民都知道,只要你买进了股票顺利成交,你的账面上就会立刻出现浮亏,哪怕事实上股价一分未跌,因为券商的佣金、交易所的过户费和政府的印花税,都会在投资者身上“薅羊毛”。按现行交易规定,买入时须向券商支付0.2%左右的佣金,卖出时除了等额的佣金之外,还须向政府缴纳0.1%的印花税,而在上交所交易的股票还收取过户费。因此,买进的股票至少要涨半个百分点,投资者才能勉强实现账面回本,这从一开始,就是个不平等的游戏。   当然,千千万万证券从业者的收入,就来自于这些从股民身上薅下来的“社会主义羊毛”,大家交易额越大,交易次数越频繁,流失到这个领域中的资金也就越多。因此,在2015年夏天股市动荡之际,许多股民在股灾中焦头烂额欲哭无泪,但是券商却趁着行情发生“踩踏”交易放量之际大赚了一笔。然后好景不长,在后来,牛市中匆匆开户入市的新股民又在熊市中匆匆销户退市之后,券商想躺着赚钱也就没那么容易了。于是,年初在熔断机制启动后,“红马甲”们对自己的工作能够聊以自勉的理由就是“牛市赚钱多,熊市下班早”,可惜这样的早下班的机会也一共就出现了两次而已,当然,对于大多数股民而言,两次也已经是够受了……   而经济学常识告诉大家,证券资产在转手交易的过程当中,并不会产生新的价值,一个交易者能最终赚到的钱,必然是其他交易者亏掉的钱,这用句俗话来说便是“羊毛出在羊身上”,也就是所谓的“零和游戏”。而正如前文所述,这样的“羊毛”在流转过程中,还会被券商、交易所和政府“薅”去那么一层。这也就意味着,如果没有新的价值源注入,那么本来是零和股市买卖在扣去了交易成本之后,将是一个负和游戏。统计学上“大数定理”的结论告诉大家,在这样的市场中如果浸淫过久,唯一的结果便是“久赌必输”。   好在,正常的股市并不是真正的零和游戏,各家上市公司向投资者,也就是所谓的“股东”定期派发的红利,以及其每股净资产在经营过程中打出手增值,就是新价值的源泉。而按照经济原理,在经济稳定增长的正常年景,股市的平均红利回报率是肯定要高于定期存款利息的,否则,投资资金就不会有流向实体经济的动力。   但大家需要熟记的一点,就是至今为止,中国A股市场仍然不是个“正常”的市场,在这个市场中,大家追求的不是稳定持股的价值投资,甚至“炒股炒成股东”成为了对投资失败以致于被套牢不得不长期持股的股民的讽刺揶揄,与之相比更悲惨的事,也就莫过于一夜情后珠胎暗结“搞出人命”,以致于不得不奉子成婚“泡妞泡成老公”者……   事实上,在大多数A股上市公司都是“铁公鸡”,因而使得在成熟市场司空见惯的现金分红在此处的上市公司中反而成为异端举动的状况下,传统上用来分析股市投资回报率的“市盈率”工具也就成了摆设。一旦有利润微薄甚至存在亏损风险的个股也被非理性爆炒,那么泡沫化的牛市就会形成,而牛市的赚钱效应会在社会上引发“羊群效应”让贪财却又缺少风险防范意识的新股民集中入市,于是市场的投机泡沫就越来越高,这种情况下,股市就变成了变相的庞氏骗局,最终结果无非是:先跑的赚钱,后跑的买单,而“羊毛出在羊身上”的定理依旧会生效。   而在没有现实经济背景支撑的状况下,股市投机热潮往往会使整个交易所都沦为变相的赌场,大家都在里面日复一日进行着表面零和实际负和的游戏。虽然,按照经典的经济学原理,适当的金融投机活动对于整个金融市场的正常运转是不可或缺的,因为只有投机行为才能把明显偏离了实际公允价值的资产价格给拉回他该去的地方。但是这个假设仅在成熟、开放、公正的市场中才能得到充分的体现,而在不成熟的市场环境下,追涨杀跌跟风投机的马太效应,会让股市一次次地在暴涨暴跌的“抽风期”和低位盘旋的“昏迷期”之间轮回,这个“双相障碍”周期在A存在了25年历史中已经走过了好几轮,并且周期本身和实体经济的周期完全脱节,这也便意味着,股市并没有起到寻常意义上的国民经济“晴雨表”作用。   因而,虽然A收益市场已经走过了四分之一个世纪,但是它的成熟速度太慢,滞后于整个社会发展速度太多,以致于到现在虽然市值高居全球第二位身躯庞然,但是心智层面上仍未脱离襁褓,这也就是为何股市名嘴李大霄先生会一而再再而三地把“婴儿底”这个虚无飘渺的术语成天挂在嘴上,因为本质上,我们的股市就是个长着25岁成年人100多斤重的身体,却仍要包着尿布含着奶嘴躺在摇车里的巨婴。监管部门越是害怕投资者在股市中受到伤害,而不愿放手让股市自己行走学会找到平衡感,股民在此之中就反而越是受伤如此便是恶性循环……   而对于在股市中受伤的投资者,解脱的最快办法便是割肉离场一了百了,只是这个过程难免会是“割在手上,疼在心里”。有一个故事便形象地解释了这个过程:一间牲口棚里住着奶牛、绵羊和肉猪三只动物,忽然有一天,主人要把猪抓走,猪高声尖叫,拼死反抗,惹得牛和羊很不高兴。牛和羊对猪说,主人一直这么抓我们,你见我们有这么歇斯底里过吗?猪说:主人抓你们只不过是要挤奶和剪毛,但抓我去,却是要用刀子割我的肉啊!   于是,辛苦工作按时纳税的劳苦大众,便是那吃的是草挤的是奶的乳牛,而通货膨胀的风险,则让大家的现金资产确实在经常被剪羊毛,而一旦在不恰当的时机的踩进了股市,便就成了等待挨宰的猪了……也许,有朝一日,中国股市的监管者和投资者都会真正的成熟起来,爬出婴儿车成为一个有担当的成年人,或许,不用等到12年后下一个羊年再度到来,大家就能迎来这一天。 进入【新浪财经股吧】讨论相关的主题文章: