Mature Investors' Management Strategy

Tan Xiaofang pointed out that there are six main ways to avoid exchange rate risk at present: first, financial derivatives, including forward settlement, exchange, swap and options trading; two, trade finance, including import and export bills, paying court, export packing loans, etc., three is to change trade settlement methods, including advance payment, deferred payment, long-term letter of credit, etc. four is to use non US dollar currency settlement, including euro, Japanese yen and others; five is to use foreign exchange financial products; six is high export and low import.

take Raise funds The "entrusted financing" not only has market risks, but also violates the law, and is not conducive to protecting the rights and interests of investors and the standardized operation of the securities market. Although the "entrusted financial management" makes the annual reports of the listed companies "touches" quite a lot, but the risk and the income weigh each other, but the gain is not worth the candle. In the Daniel market in 2006, the average earnings of listed companies entrusted to finance were only around 10%, much lower than that of the same period. In 2007, the fund was hot, but not all investment companies of the listed companies were all smooth sailing. Zhang Ze power three quarterly report shows that the amount of investment in Tianhong fund has shrunk by 1/3, while Wuhan Iron and Steel Group owns 16.67% of the Changxin fund company, but at the end of the three quarter of this year, the book also appeared about 2000000. loss 。

In addition, our so-called ten send ten, in Overseas capital The market is called disassembly, which aims to adjust the trading price of the company's stock to facilitate investors and has no influence on the company's financial position. For example, Ctrip carried out 1 dismantling 2 when its stock price reached 88 US dollars in April 2006. In July 2007, the stock price reached 89.84 US dollars once again, and once again 1 dismantled 2. In November 2007, the price of Ctrip went to 62.87 US dollars. If there was no two split, the transaction price would be 251.48 dollars. If the overseas capital market is controlled by 1, 2, 10, 10, 1, 3, 10, and 20, it is a laughing stock to use these "sending" stocks as dividends. For example, someone borrowed 10 hundred dollar bills and 20 50 yuan bills, and also managed to borrow 10, 10, and 10! The listed companies could not get out of their papers, and the way to share dividends as dividends would be seen by Chinese investors sooner or later, when investors would vote with their feet.

The risk of entrusting financial management lies in the legal aspect. From the practice of "entrusting financial management" of listed companies, most companies fail to make timely announcement or notice. At present, most of the entrustment agreements signed by the listed companies and the securities dealers are short term investments by "entrust financial management", and there is no legal guarantee, and the rate of return on investment is not guaranteed. If the investment company entrusted by CITIC sea direct is CITIC investment, the agreed rate of return is as low as 1%, while that of the company is higher than 1%, and 90% is attributed to CITIC investment. If you are working with a small investment consulting firm with weak risk appetite, you will face huge risks. And illegal joint efforts to create disputes and litigation more.