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330805 2008 年 03 月 23 日 17:24 Reading (loading. ..) Comments (0) Category: Links
; March 20 afternoon, three buildings from the new warehouse is located south China Merchants Securities Business Department, East Third Ring Road, a VIP room looked out the window, outside the building in the little garden, two magnolia trees magnolia bloom brightly, but after the first two days of rain and wind, has a deformed shape of many flowers, and some even come withered. This one can not but think of this round of the 6124 points from 3500 points dropped down to 40% of the fall, has given way to a magnificent bull market seems to become unrecognizable, and a menacing
I also began for the subject well, although this time the broader market has moved from 3500 back to near 3800, but traces of the bear market is still lingering, I very much hope that as one has 15 years investment experience of the investment veteran, she has the experience to give the average investor learn from.
the first to know well, because she wrote a book With the increased understanding of her, I know in her own web site, there is a quantum of gold from 31 May 2004 began public increase to 239 million, growth rate of 559 percent, while the broader market grew 144% over the same period. In the broader market since early 2008, down nearly 30% of the cases, the market value of her loss of only 4.82%. Note that this is always full of positions in this account the achievements of the case. So, what kind of experience she has to share it with investors?
bull market bear market
well: the short term, like this fall more than 30% of the market is certainly a bear market. However, as the broader market in 2007 rose 100% all the way over, and now by more than 30% of the callback, you can think this is a bull inside the bear market, it is not considered to be a real bear market produce. If the bull market continues, even slower in the future there will be opportunities for a new high.
But this time we should consider is the vicinity of 3500 points this position is reasonable valuation. As of March 19, the CSI 300's price-earnings ratio of 27 times expected 2008 earnings of 22 times, unless China's economic growth continued to slow down, otherwise the valuation is not too high. As long as the economy continued to develop steadily, then the bull market to no end. In the years after the review, there may be only a small wave of correction. Of course, now is not the time for gold in Montreal.
well: In 1998, the shock market. After that time also rose year 1996,1997 market, the Shanghai Composite in just 5 months time, is more than 1,500 points from 1,000 points fell near the drop is as high as 50%, and significantly prolonged shock. Looking back, 1998 was a shock city, but the taste in which the body was also not pleasant.
If history always repeat itself, we also hope to experience a severe shock in 2008, it can reproduce its former glory. But in the current market conditions, the ordinary investors, especially since the stock market in 2006 did not experience significant fluctuations in the mentality and feel good. Do you have any good suggestions?
well: run the bull and bear markets, when people looked back, always send out such a wonder: If I can know every CBBC conversion of the And people always want to know: bull or bear market followed, and then how to direct their own actions. Who blurted out that bad,
nba shoes! As Warren Buffett said: I must mention is that those who are counting on the stock market of this century 10% of annual income - 2% of its revenue comes from dividends, from the price change to win another 8% - - is unrealistic to look forward to the Dow Jones industrial average in 2100 to reach 24 million points.
can not
well: I have an experience, purchased in the original valuation, we must consider selling, into their own favorite long good stocks, experience should be more pleased this opportunity is.
not their own is wrong?
well: This reflects the importance of value investing. In the stock market, investors are vulnerable to emotional control of the stock market has performed often or very excited or very upset, this is some non-rational behavior. If an investor is
However,
nike basketball shoes, if an investor before the purchase is well prepared to do their own he can calmly. Like building houses to be designed to be resistant to more than 8 earthquake standards, even though such a big earthquake in fact rare, however, the precautionary very important.
mirror because we can not just look forward to drive, so every time the operation should be considered for their overall strategy is the right way. Even if the policy is not perfect, but as long as adhere to the correct direction, away from the target will be getting closer. reduce costs through shorter poor
well: for stocks that we can determine,
lebron james shoes, only three things: 1 stock they own name (on behalf of the Company); 2, purchase quantity; 3, buying costs. The time when the market fell, many people will think: If I can sell out before the crash, and now all buy, be nice! Previously, I have always thought so, but also tried. But now even some of the broader market fell further, I would not think so. Because I think: no matter how well the fluctuations, and large forces do not adhere to the correct direction and significant occupation of favorable terrain.
in specific operations, I will insist on three points:
1, bought stock! What are the development prospects of the stock have? Good performance, low price, high net worth, small plates, business is good, excellent industry,
nike hyperdunk shoes, cash flow or more.
2, maintain the position! If there is no long-term plan, the operation for not too much. Decided to bought the stock, to be sure to get over-time, or to never give up.
3, lower costs! The total number of daily stock market fluctuations have, you can use a small amount of chips to reduce costs. Time will prove that this is effective.
How to reduce the specific operation by the hands of the cost of chips?
well: Although my main idea is to invest mainly, but given the natural volatility of stock market opportunities, I too have a keen interest. Because this is a speculative stock market gives us the opportunity, this speculation is full of charm.
how to reduce costs and respond to market price fluctuations it? My approach is: I came to valuation, estimate a reasonable price I think. If the market price down too much from my valuation, I will have power to buy! If the valuation up from me too, I have the power to sell (short is not bad)! Use of short-term cost reduction, and make their limited funds hold more shares of their own satisfaction,
zoom kobe v, even in a bear market, we can still increase the funds with limited number of quality stocks, no matter how the current share price, the future is a winner!
well: the specific operation should pay attention to two points:
1, we must first determine its own operating targets, try to make it concise. This is the premise, and the regular replacement of varieties of
2, buy low, sell high throw to test, step with step, to leave room for error.
in the stock market, price instability is absolute, only their valuation is relatively stable. As coordinates, as much beyond the limit, to sell more, beyond the limit too much to buy more. Amount of money according to their own account and do intervals, the number of such plans. The cost of a period of time if the market price during this time under the better.
then is the test. Awkwardness for each of the hands of a few hundred shares traded, it is entirely exploratory in nature. Even bought one or two high, it will not affect the total cost too much. I bought every day Awkwardness of the recent attention to the pursuit of higher selling, once sold, does not reduce to a certain extent do not buy, and buy more than the number of the quantity sold.
This is like the beginning of the funds put into buying a facade when it is, then stop doing business. Even if the facade fall a lot, have little to do? Anyway, as long as the business on the line every day. Over a few years to be diverted, and then consider the price of the company itself. If it is a good company should be able to sell a better price. There have not considered it to expand production (that is, compound interest) to bring the profits.
In short, we can not predict what will happen the broader market. Prior to this there is no ability to forecast, then the same. We can do is: the use of probability statistics; use of digital and data to calculate the relationship between values and prices to assess the riskiness of our accounts; use active means to control the accounts of our positions; advantage of market fluctuations reduce the cost of ownership . All this carried out in the dynamic process. And the more complex the movement of the market, the more we need more patience.