Zhang Jingwei: The Carnival And Anti Intelligence Of Retail Investors

After the financial crisis in Wall Street, investment bankers and financial brokers also lament that stocks and stocks make money.

Regardless of the A share market or other markets, Carnival may be many retail investors, but they are also anti intelligence. They earn only a handful of "stock gods" who are lucky, intelligent and capital rich.

In the past, A stock market has become a sucking object of stock market "vampires" because of regulatory disorder and illegal operation.

The investment risk of the stock market has become speculative gamble, and many retail investors can only cry without tears.

Or return to the A share market is a matter of fact.

The downward trend of the economy is still declining. The new normal economic situation is a foregone conclusion. The central economic work conference will be held soon, and will face greater strategic economic decisions than ever before.

The pace of reform in 2014 will continue, and the end of 12th Five-Year will need to be more thorough in order to turn the old into the new.

The central economic work conference is a time node. If the monetary policy is loosened in the next year, the bull market will probably continue for some time in the turmoil.

If there is no positive signal release of monetary policy, the stock market may also be "paranoid" in the short term.

Since the beginning of this year, major institutions and public opinion have been predicting that monetary policy will be more relaxed, though it is only a "micro stimulus".

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It also aroused the market's associative association with the openness of monetary policy in the post market period.

In addition, the macro-economy is still in the downward adjustment, as well as the combined influence of monetary policy on deflation in the two major markets of Europe and Japan.

The market is generally built on such a long-term and favorable policy logic.

In fact, a more bull market logic is the rebound of the Shanghai and Shenzhen two cities after the downturn, while the blind optimism of the market outlook is full of uncertainty.

The stock market forecast is very tempting, but it is equally puzzling. If the institutions, the public opinion and the stock analysts can calculate the direction of the stock market, the world may be full of stock gods.

Paradoxically, large institutional investors may be rational, even speculative rationality, but the vast majority of retail investors tend to be anti intelligence disturbance followers.

Their beliefs are the fundamentals of the stock market or cattle or bears.

Such fundamentals often run counter to the macro economy, but it stems from erroneous information about the so-called good policies.

It is still prudent for investors to enter the market.

When it comes to Daniel, not everyone can make a big profit.