Why Should We Save The Market?

Whether the capital market needs to "save the market" is actually a false proposition, any one. market When its development deviates from a certain track, it will be regulated by policies. Overseas market has continued to rescue the market after the financial tsunami in 2008, and the domestic property market is still suppressed by the policy of "stabilization". Therefore, when a market trajectory deviates too much, the policy of "bailout" or "suppression of market" will surely exist, which is very helpful for investors to judge the trend of investment.

Developed economies are the source of the birth of the financial tsunami. US stock Or the eurozone market, last year and this year. performance All of them are better than A shares. Is there any sign of "bailout" behind this? The policy of "stabilizing" the domestic property market began to appear in the first half of last year. However, whether developers or buyers, until the first half of this year, the property market stagnated, it still showed a trend of "seeing more" than "watching empty". The fuse behind many "high running" events in Wenzhou, Ordos and other places came from the misjudgement of the trend of the property market. It can be seen that although the A share is still in the doldrums today, it is not a "suppression of the market" but a "bailout" from the policy trend.

The A bear market is really out of line with the normal trajectory. The "bull market" is just as helpless as the "property market" at the beginning of the year. For example, Gong Fangxiong was frustrated: "some time ago, some Chinese companies' shares were sold off. Some people said foreigners were singing empty China. In fact, they were the first to sing empty China's A shares. Since the US debt crisis and the European debt crisis, so far, the Dow Jones index has risen, and the standard & Poor's index has not dropped. The decline of the Spanish and Italy stock market is actually less than that of A shares, while A shares fell 15% last year when the global stock market rose."

Now the policy has turned to inflection point. Inflation and the downward turning point of the property market also mean the turning point of tightening policy. More importantly, the improvement of the investment function of the capital market is being put on the agenda. After 15 years, China will also enter an aging society. During this period, the investment function of the capital market will definitely outperform the financing function. The bull market should not be "luxury ornaments" but "necessities". Recently, the securities and Futures Commission has already communicated with the stock market and relevant departments to promote pension, provident fund and so on, and has launched a package of preferential tax policies. The commonly known Chinese version of the "401K plan" can reach RMB 4 trillion yuan. In 2009, the "4 trillion yuan" was targeted at the real economy. Now, the "4 trillion yuan" is targeted at the capital market. Is this not the turning point of the "rescue market" policy? Therefore, it is common sense to "empty" A shares now.

But the market will also have a worrying voice: "will this crocodile enter A shares and become house lizard again?" the concerns of the market are justified. Can we solve the problem of issuing new shares at high prices? Can we draw lessons from the muddy water company? In the eyes of the attacked companies, "muddy water company" is the devil, but muddy water company also brings "low probability" shares in the US stock market with low price issuance and undervalued circulation. If the "muddy water company" mode can be used rationally, it will be a devil for the financiers, but it will be an opportunity for investors.