Stock Market Interpretation: High Leverage Is Fatal.

Once, the biggest drawback of the A share market is that the field plus leverage is added to the uncontrollable situation.

I saw with my own eyes that a tabloid newspaper had a wooden plank, which said it could finance.

The number of financing calls received is even more numerous, or the intermediary of the bank, or the intermediary of the financial management company. This shows that a large sum of money under the surface of China has its own wealth logic, and it is very easy to pry a market.

Someone can get funds from the organization, someone can pass it.

Get the money from the grassroots.

And in the context of the Internet, these funds accumulate a lot and build up a lot of resources, and quickly affect a market.

Meanwhile,

It is lagging behind. Last year, when the stock market crashed, we didn't know how high the off site leverage was. The price of property in the first tier cities and core cities rose steadily this year.

In 2015, A shares crashed sharply, and then plummeted, but financing refinancing hit a new high.

According to statistics, in 2015, 586 listed companies completed private placement, with a scale of more than 12174 billion yuan.

The two sets of figures have reached a record high.

Taking the "change deadline" as a uniform caliber, the total size of the 1175 listed companies in 2015 was not more than 456 billion 600 million yuan in 2015, compared with 210 billion yuan in the same period last year.

New heights in history.

Through illegal capital access and procedural pactions, the company gains thousands of times.

In immature markets, leverage is fatal.

The higher the lever is, the more crazy the market is, the more sad the outcome will be.

The stock market is so, so is the property market.

Strong winds arose at the end of the green duckweed.

In July last year, Wang Xinyu published an article entitled "next year's goal is trillion: the chain of God's family" can fly after the "Palace"?

In 2014, the sales volume of second-hand housing agency was 260 billion yuan, and this year it is expected to reach 600 billion yuan.

More than the industry's largest Vanke annual sales.

According to Beijing's second-hand housing market at that time, the paction fee of chain traders was 2.7% yuan and 200 billion yuan, and the paction cost was 5 billion 400 million yuan gross income.

Another article, "who is going to die?" the chain family "self Palace"? The article reveals a secret: chain finance is very good. Only a "sideline" annual income of up to 4 billion yuan, intermediary trading regulatory fund sink the normal amount of more than 20 billion yuan.

According to this figure, the gross income of intermediary income should be at least 60% or more as commission expenses. Because of regional differences, the proportion of district commissions should be less than 2.7%, and the remaining part should support the chain store system of expansion.

Last year, there were guarantees.

It is a question of equality and integration that the real estate is self financing and is a high risk road.

Zhongyuan Real Estate Zhang Da Wei said that the chain's closed loop has three major impacts on the industry: 1, the pricing power is the only one; 2, the maximum benefit of the enterprise. In the process of a single industrial chain's complete and complete paction, all services are for profit maximization, for example, the down payment should be made as a pool of funds, and the money from the pool will be used to make the down payment to the buyers.

Such a pattern will inevitably lead to problems in customer service; 3, once the risk arises, it may be a huge risk.

Once house prices fall,

Downlink, any part of it is likely to cause major problems due to lack of supervision.

Chain owners now deny these accusations.

We can only rely on speculation about how many of these models are like those of chain owners.

In the closed chain, financial products and capital docking, capital and property market paction demand side, through holding or different insurance institutions to guarantee, and ultimately through property pledge, short-term cycle and other ways to control risks, in fact, the traditional folk usury core mode is complicated after moving to the network, moved to the real estate industry.

Since the beginning of 2014, the model has emerged, and no department has declared these models.

It was not until March 9, 2016 that Pan Gongsheng, vice governor of the central bank, said in the discussion of the CPPCC group that some comprehensive measures should be taken to solve the current housing problem.

The central bank is consulting with the Ministry of housing, the Banking Regulatory Commission and other departments to prepare for the governance of some real estate markets, real estate enterprises and real estate intermediaries to participate in financial operations. If there is no qualification, they will not be able to operate across borders.

It is better to say than not.

The pattern of usury has entered the stock market under the Internet finance, and has become one of the causes of the stock market crash.