The P/E ratios of China Merchants Bank and Industrial and Commercial Bank of China have far exceeded the international level, but experts and scholars say that due to the rapid economic development in China and the good expectations of banks, our valuation should be far higher than the international level. However, in recent days, bank stocks have fallen across the board, and ICBC has plummeted. How do we explain this? Success is Xiao He, failure is me? Some people think that it is only a few days before 65438+February 1 1 China market is fully opened to foreign banks, and the previous speculation is that speculators take the opportunity to gamble. Then make a profit and leave. I prefer to believe the latter. If it is really unfortunate, then in this gambling, it is not only retail friends who lose, but also fund institutions.
In China stock market, retail investors are the cutest elves. They add bricks to the market. They forgot the past. They forgot the pain. They never leave. When the market went up, they were in high spirits and thought it was time to make money. When the market falls, they look forward to tomorrow with chips. They pursue the high and kill the low, and go forward bravely. Losing money, they swallowed it with tears in their eyes, and they have the spirit of being a ninja. After making money, they continued to fight and finally returned the money to the market. With selfless dedication and fearless heroism.
We are friends in retail, and they all lose their own money, all real money and all their own money. Unlike Public Offering of Fund, it's public money anyway. If my management fee is gone, I will accept it. If I win, there will be a profit besides the management fee. Anyway, whether you win or lose, you can be in an invincible position. Anyway, there is no legal and open private equity fund competing with me for territory. Anyway, I am a monopoly, who am I afraid of? Not to mention, some Public Offering of Fund still follow their own rat warehouses, which is more negotiable. When the stock market falls, I earn; when the market wins or loses, I earn. If someone takes over the high position, why not?
Therefore, in the stock market, the real winners and losers have also surfaced.
Winner 1. Departments and institutions that make profits every day. Investors have to pay taxes regardless of profit or loss, and the relevant departments have a lot of money every day. Even if the plunge, investors cut meat, but also to pay. According to the daily turnover of 654.38+000 billion yuan in Shenzhen and Shanghai, there are also hundreds of millions of pumps. Of course, the trading commission also allows brokers to keep up with the drought and flood.
Second, short-term speculators. Short-term experts generally don't hold stocks on weekends, fearing that they will become waste paper when they wake up, so they can successfully escape from the top. Even if you cut the meat and stop the loss, you can call it the cash king in the face of 60% ups and downs.
Third, the size of non-reduction. Because the cost of holding shares is very low, regardless of the cost, the size will be reduced. The odds of 10 to 1 made them happy to win.
Fourth, overseas spectators with ulterior motives sang the China stock market empty. The China stock market crash has attracted the attention of some people on the other side of the ocean. In their bones, they hope that China's economy will fall into crisis and the global economy will decline, and China will never stand out. Only by letting China stock market have a few more "black months" can China's domestic demand be depressed and China's rapid economic development turn to an inflection point.
failure
1. Shareholders and citizens. In this round of plunge, investors and citizens who hold A and B shares bear the brunt and suffer the most. They are unwilling to cut the meat and stop the loss because they are ignorant of technical analysis and have illusions about policies. In the face of the plunge, I was at a loss and became a deep group.
Second, medium and long-term investors. Medium and long-term investors are mostly white-collar workers who go to work. Most of them are busy with their careers and have no leisure to stock market. They buy stocks for long-term appreciation, so the investment varieties are mostly financial real estate blue-chip stocks advocated by the fund. Unexpectedly, the warmth of the fund turned into trampling, and every rebound was the best plan, which made them very hurt.
Third, private equity funds. As private capital raised from various channels, the operating cost of private equity funds is extremely high. Because of the promise of capital preservation, there must be a demonstration effect of high profits, which doomed them to be deeply involved. At the same time, due to the limitation of funds and information, it is impossible for a stock to rise, which can only drive some small-cap stocks to rise. This kind of stock is easy to rise and extremely difficult to ship. Shenzhen Oriental Harbor, which was once in the limelight, lost nearly 40%, and the shares of Shenlin Garden lost 654.38 billion yuan, which was a fiasco.
Fourth, publicly issue funds. Public Offering of Fund is a bull in a bull market and a bear in a bear market. In the past, the mode of holding a group to keep warm and sitting in the village, once collapsed, was scattered. Anyway, the money belongs to the people, so if you lose it, you will get the management fee. If you break my "help rule", I will kill you, kill each other, lose one trillion yuan, not a little, and continue to smash the food to the end. Although the gods fought and the people suffered, they were redeemed by the people at any cost because of lack of trust and responsibility, and faced the embarrassment of running out of ammunition and food.