Rationality behind the soaring positive shares: nostalgia for Baosteel warrants
http://www.sina.com.cn 15:59, November 6, 2006 Sina Finance
In the twinkling of an eye, Baosteel It has soared from about 4.2 yuan to the current 5.70 yuan, and today it is reported by the ceiling, with a strong pattern. However, when I recall the solemn curtain call of Baosteel Warrants two months ago, I always feel that there is a lot to say. I remember that when Baosteel took the curtain call, the author once wrote an essay entitled "Dialectical View of Baosteel Warrants", which not only criticized the speculation in the history of the bonds, but also disapproved of the final disposal as waste paper. Yes, if all the investors who bought the warrants finally went to exercise, the current income would be quite generous, but how many investors actually exercised? Judging from the final announcement, there are few exercisers. In just two months, this market has behaved very funny, which not only molested the majority of retail investors, but also certainly molested many institutional investors. What happened to our market? Should we continue to speculate highly? Faced with such a highly speculative market, investors can only survive by being rational and trading from the fundamentals. If they blindly follow short-term hot spots, they will lose more than win.
in the capacity of negotiable securities As market participants, each of us should make due efforts for the healthy development of the market. But when our efforts are ineffective, we should first learn to protect ourselves in complex market conditions and control our operational risks. A phased inefficient market is difficult to operate, but it is also the market with the most opportunities.
Donghai Securities Wang Xingjun
Sina statement: The content of this article is purely the author's personal view, only for investors' reference, and does not constitute investment advice. Investors operate accordingly at their own risk.
