Basic analysis of the incomplete --------- In fact, affecting the psychological changes of investors are not only the volatility of the stock price, stocks are basically facing investigators, and they will eventually affect the stock price. Wave, so we should pay attention to the changes in fundamentals. It should be noted that we are here to pay attention to fundamental analysis methods, but by understanding the investors' fundamental understandings and views, they understand that investors have fundamentals. The change in the desire to buy and sell after the transformation. The so-called traditional basic analysis believes that the price of stocks depends on the inner value of listed companies and future prospects. The market is high in operation prospects, and the stock price of the business prospects is low, rather than supply and demand relationships determine the volatility of the stock price. -------- Basic analysis must be based on complete, real, comprehensive information. But how can the basic analysts, how can we develop the accuracy of the research on the data of the Hao Rhai Sea? The behavior of the forged financial statements of listed companies is uncommon, not to mention the general fake performance of the Chinese market, and only the case is endless. Unable dayless Qiongmin, 000557 Yincu Summer, 600083 Rooflight, 600065 Daqing Friendship, 600709 Lantian Shares, etc. In 2001, the relevant departments took out the 32 audit reports issued by 16 domestic accounting firms. The inspection found that there were 14 accountants issued 23 seriously lost audit reports, resulting in a false number of financial accounting information reached 7.143 billion yuan, involving 41 CPAs. This phenomenon is not only the phenomenon that will appear in an immortal market. Even in mature markets, even some big companies in the past have excellent Herch are also uncommon, Enron, Xerox, World Telecom, Merck Pharmaceutical, etc. The big company forfeeding the financial statement is that it took place in recent years. Financial scandals are more countless. WEISS said in mid-June 2002, one-third of US listed companies may tamper with profit reports. How does the basic analyst avoid these mines? -------- Basic analysis faithful supporters believe that as long as there is a comprehensive information and rational mind, you can accurately pricing each stock. I don't know if they think, even if I can guarantee the correct information, if a company has been acquired or merged, restructuring, whether it can discover its inherent value before the stock price soared? History once proved that the share price often has risen sharply before the formal announcement mergers and acquisitions. Let's open the chart, take a look at 600779 Colonary, 000590 Ziku Pharmaceutical, 600735 Lanling Chenxiang, 000004 Peking University Society, etc., you can understand what the trend contains everything. In 2000, there were more than 100% of the largest shareholders of listed companies, accounting for ten percent of all listed companies at the time. Plus the company's internal asset restructuring, there are hundreds of hundreds of people every year, and some companies are restructured. For example, 600,845 Baixin software, under the restructuring of the first major shareholder, from a traditional Chinese company that produces steel pipes, a new type of research and development of computer automation, network communication system, hardware and software products overnight overnight. The industry has arrived today in addition to the securities code unchanged, and the rest is completely up. The stock price rose doubled before the announcement of the recombination. This situation is frequent, I don't know how basic analysts, how is the reason why the stock price rose before the news is not announced, and it has the ability to follow up? Basic analysts firmly believe that fundamentals affect stock prices, but they don't know if they think, share prices are also affecting fundamentals, and has a profound impact. An stock has excellent performance, the stock price is about 50 yuan, and the share price of each share can reach 3,40 yuan. Another company is only about ten yuan due to the stock price, and its total share price is 89 yuan.
In the case of the same total share capital, the former is obviously much higher than the funds raised by the latter, and the funds and scientific funds in the new Chaoyang industry are significantly more, which is very conducive to the company's development. These advantages will inevitably promote the rapid growth of the fundamentals, which is an example of the fundamentals of the share price. ------- A company's performance, the stock price will take a long time, becoming a faucet in the market. For example, Changhong, Sichuan, everyone knows that Sichuan Changhong is the leading company of color TV production, how many people are conscious of the securities market, and finally trust the company's products. A few years ago, Changhong's air conditioner has not been launched. The people who have been known to Changhong in the market will soon, this is the effect of any advertisements that cannot be replaced because of the exemplary effect of stocks. Good products can not only make the company, good market image can also make it famous, and then stimulate the sales of the company. Basically, the stock price, the strength of the stock price is back, and the fundamentals are influenced. I don't know how basic analysts analyze this mutually promoted phenomenon. If basic analysis is not able to analyze the above rational, even if we can't say Basic analysis is meaningless, and the least basic analysis is not perfect. ---------- Basic analysis is that gold will definitely glow, and early access is the most sensible. But they didn't think of it, there are so many natural resources in the world, such as oil, what is the difference in and now? Even if someone knows its value in hundreds of years ago, what is the meaning of his life? Can you bring us wealth? Assume that the world's oil reserves are as rich as sea water, is it still expensive as it is now? If only 10% of the world's oil reserves? The changes in the surface are the main cause of the stock price fluctuations, the essence is only the reason for the excuse, hype. But we can't ignore basic analysis, because although the basic analysis itself does not really significant, investors' views on fundamentals, but can affect the desire of investment in the public, resulting in fluctuations in the stock price. ---------- This situation is not uncommon. For example, there are two stocks to fall at the same time, a stock is a variety of stocks, another stock is garbage stock, can be surely, these two stocks are usually the fade of garbage stocks, and the performance of the stock is usually slower. And the amplitude is small. This is mainly because of the more speculative guests holding garbage stocks. They usually have no confidence in shares. When there is a wind blowing and fleeing, even if the loss is more reluctant to reluctantly cut the meat. The investors who have a wonderful investor also dare not enter the field because of all kinds of fears, so garbage stocks usually fall faster. Different performances, this stock's holder is relatively confident, so once the stock price falls, it is refused to cut meat, and there are still many people still dare to pay low cost, and the investors of holding currency are also Performance stocks dare to buy, so the decline in the equivalent market atmosphere is less than the garbage stock, and the falling speed will be less than the garbage stock. This is an example of investors affecting fundamental fluctuations. During the investment in all stocks, more than 95% of investors will consider the fundamental changes, but only different degrees, completely ignore basic analysis is only a technical analyst that is extremely personal. Therefore, we should pay attention to investors' understanding of fundamentals, rather than basic analysis itself.
