Investors' Long-Term Holding May Be The Best Way.

Encouraging investors to hold stocks for a long time is what we have heard most in recent years.

At the same time, from the management of a series of actions, we also feel that their hard work.

The author believes that encouraging investors to hold stocks for a long time needs to nurture the soil of long-term market investment and gradually enable investors to experience the value of long-term investments. On the other hand, it needs to create a relatively equal investment environment for ordinary retail investors and slow down the contradiction between ordinary retail investors and large capital institutions or controlling shareholders.

In fact, from

Some measures such as differential levy to guide capital into market have encouraged investors' long-term shareholding actions to a certain extent.

In the past, for example, according to the current rules, investors with long-term shareholdings, especially those holding shares for a period of more than 1 years, are exempt from personal income tax on dividends.

However, investors with a holding period of less than 1 years, especially those holding stocks for a period of less than 1 months, will be subject to heavy tax pressure.

To some extent, the introduction of dividend tax differential policy actually reflects the management's encouragement to investors for long-term shareholding.

Later, for example, the introduction of capital into the market is a real portrayal of the recent market.

Among them, from raising the upper limit of investment in equity assets of venture capital funds to accelerating the pace of pension market entry, and bringing A shares into the expected warming of MSCI events, to a certain extent, stimulate investors' willingness to hold stocks for a long time, prompting more investors to change their previous short term.

Act.

However, in terms of the current market environment, encouraging investors to hold shares for a long time can really make investors get tangible benefits?

On the contrary, more often than not, because the stock market volatility is too large, and some policy risk raids, so that they bear a certain risk of differential loss.

Over the long term, for long-term investors, if the market is laid on the wrong track, or the wrong target is laid, it will easily lead investors into a loss or even deep hold up.

In fact, whether it is China petroleum or China COSCO, or China aluminum, etc.

At the beginning of its listing, it was also attracted by a large number of investors by the slogan of the organization's most profitable and investment value.

However, since its listing, stock prices are in a state of decline and decline. During the period, although some of the stocks have made a slight dividend yield to investors, their overall price difference to investors far exceeds the dividend dividends themselves.

It has been 7 or 8 years since the listing of these listed companies, but for those investors who bought high prices at the time, they still suffer huge losses.

To take a step back, even though investors did not buy at the highest point in 2007, they were still at a relatively high level in 2010 and 2011.

However, in view of many listed companies in the A share market, the loss of ordinary retail investors is quite high since its listing.

On the contrary, for the original shareholders with very low shareholding costs, although the share price has plummeted from over 7 to high, they still make a huge profit.

It will be the time for them to reap profits when their shares are lifted.

It can be seen that asymmetric shareholding costs, asymmetric market information and asymmetric trading mechanism and other factors directly increase the shareholding contradiction between ordinary retail investors and large capital institutions and controlling shareholders.

Obviously, for the ordinary retail investors who lack the cost advantage, information superiority and capital advantage, in the background of the sharp drop in share price, the risk of their shareholding continues to exist. In fact, the cost of their shareholding is much higher than that of the original shareholders.