Li Xiang: Give warrant muddleheaded surfers more tips to avoid making low-level mistakes

Li Xiang

The media recently disclosed that a "surfer" who speculated on warrants in Pudong, Shanghai, had bad luck. Instead of leaving on the last day of JTP1 warrant trading at the airport, he made up a large amount of positions at about 0.30 yuan. As a result, almost all of the 150000 yuan he had invested in succession were gone. It is said that retail investors who have experienced similar experiences are not uncommon. From the relevant information of the airport JTP1 warrant, the trading volume of the warrant on the last trading day is still as high as 699 million yuan, which shows that there are many confused "surfers".

If such "surfers" can get tips and advice in advance, they can completely avoid capital losses that should not have occurred. Although all listed companies issuing warrants will issue prompt announcements on the designated securities media and websites, it is a pity that such prompt announcements often do not emphasize the "last trading day" of their warrants in the writing. For example, the "exercise termination date" prompted by the airport put warrants is December 22, 2006. Although the "last trading day" is mentioned, it is not emphasized, This can easily lead some retail investors who do not read the newspaper carefully or lack the common sense of warrants to mistake the "exercise termination date" as the "last trading day", thus making a big mistake. Moreover, there are many reports, notices, announcements and other contents published in designated securities newspapers and periodicals, but few retail investors really read carefully every day. In addition, retail investors take frugality as a virtue, and most of them are reluctant to subscribe to securities newspapers and periodicals individually. Generally, people only look at the newspaper column of the business department, However, some listed companies, when publishing important information including the "last trading day" of put warrants, did not choose to publish it in the prominent position of newspapers, but placed it in the sea of reports, notices, announcements or on the corners of newspapers, which is easier for retail investors to ignore. Therefore, listed companies that issue warrants should improve the way of disclosing information about the "last trading day" of warrants, and should publish such announcements in prominent positions in newspapers and periodicals. For the content provided by F10 and other software systems, it is particularly necessary to highlight the "last trading day" of warrants and other important information.

Such "surfers" should also be able to get timely service tips from the business managers of securities companies. Because the "surfers" of warrant trading are the clients and parents of the securities companies, and they have to pay commissions for every loss transaction, even the own dragon finger type. Brokerage companies take the commission from investors, so they should provide relatively complete and comprehensive services for investors. A hint can sometimes make retail investors profitable; A piece of advice can sometimes make retail investors avoid risks. As long as the service provided by the securities companies is in place and of high quality, the bad luck of "surfers" can be eliminated or greatly reduced.

There are many middle-aged, elderly and retail investors in the stock market. Some of them are dazed and struggle to read newspapers, while others are unable to browse information on the Internet. This especially requires securities companies to launch more humanized and targeted service mechanisms and projects to remind them to avoid risks. Therefore, I suggest that in addition to the newspaper columns set up in the business places of securities companies, "important information prompt columns" should be added, and the prompt for "surfers" should also be strengthened through lectures, radio, telephone and mobile phone mass distribution and other services. The management of the business department who has given a good command of customer transactions should also conscientiously and timely remind these "surfers", So that they can prevent and avoid making similar very low-level mistakes.