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Investing is an art and highly emotional and subjective.

When buying stocks, if your buying decisions are based on"insiders' information or rumours" and not sound analysis, then you are gambling. Many investors enter the market when stocks prices are high (lacking of confidence to enter beforehand when prices were low). Once the stocks market crash, they tend to sell out their shares out of fear and pessimism, swearing to "chop off their fingers" and never enter the stocks market again. If such situation happens, all their previous gains may be wiped out and suffered a loss.

Investing is an art and highly emotional and subjective. Subjectivity is largely controlled by our emotions. There are times when we are optimistic or pessimistic. If we are unable to control our emotional weakness, we are unlikely to become successful investors.

To be successful, you must first understand yourself, in particular your emotions and the degree of pressure you can tolerate.

The investors should also analyse the country's economic prospects together with the earnings outlook of the major listed companies.

It is imperative that you like Mathematics as the sound mathematical knowledge plays a key role in investment.


财富為了实现梦想;而非梦想拥有财富 .
美元对亚洲货币走势图


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Friday, August 21, 2009

Andrew Peaple=中国政府会为“十一”救股市?


国政府正在为建国60周年庆典进行紧张筹备,他们不希望股市大幅下挫影响到庆典活动。

这是股市交易员间新近流传的想法,他们试图为中国股市结束下挫找到一个合理理由。这折射出了中国股市的一个重要特征:若要成功投资中国股市,就必须把握来自北京的风吹草动。

上证综合指数已经自8月4日高点下挫了17%,市场将目前这波跌势归咎于投资者担心中国政府会开始放缓银行巨额放贷增长步伐。

市场并不是担心中国政府此举对经济造成的影响。在股市下跌的同时,很多经济学家上调了对中国经济增长的预期。

市场担心的是放缓信贷增长举措会对资产价格上涨造成什么影响。今年上半年中国银行业新增贷款1.1万亿美元,据估计其中20%的资金都流入了股市和房市。

中国政府有诸多政策选择可以来扭转股市人气。举例来说,加快推出新的共同基金,给中国散户投资者带来更多渠道,将他们的积蓄投资到股市当中。

此外,中国政府还可以下调印花税,这是另外一个决策者寻求扭转局面的明确信号。

这并不只是为了保全面子。中国还有大量等待发行的首次公开募股(IPO)交易,很多都来自于国有公司,这需要一个稳定健康的股市。

中国政府还希望推出一个创业板市场。近期还出现了引进汇丰控股(HSBC)等主要跨国公司到中国股市上市的计划。中国政府还有着推出股指期货以及融资融券交易的较长期计划,这需要吸引更多投资者的兴趣。

不过,如果股市持续下跌导致中国政府介入干预的话,最主要的动机可能还是确保稳定以迎接建国60周年庆典。

不过,这不一定会获得成功。去年奥运会之前中国股市也曾有过类似的预期。但等奥运会开幕的时候,上证综合指数已经较年初时下滑了58%。

不过,奥运会毕竟只是场赛事。中国的建国庆典可能具有更为重要的意义。




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