Gui Haoming: A Relatively Large Throwup In The Late Stage

Recently, there were so many trading days that there was a relatively large number of throws at the end of the trading season, and it was concentrated on the stock ownership of the certificate company. So there were some arguments in the market: is this the certificate company's shipment? According to the three quarterly report of the listed company, the certificate company has set foot in thousands of stocks during the "bailout" period, which cost a total of over 13000 billion yuan, and at the closing price at the end of October, there was a loss of about 200 billion yuan.

On the one hand, it has invested huge sums of money into the market, and on the other hand, it has seen a lot of losses.

For many investors, this is

It is difficult to accept, therefore, it is also speculation whether the certification company will do some high dumping and low absorption operations, and then one day when the stock market suddenly appears a big sell-off, it will worry whether the card company is selling the stock.

Will the certificate company sell shares now? This should be answered by the certificate company.

However, people can still understand whether the certification company will do this through some analysis.

It has been said that the relevant departments have long been clear that the securities companies will hold long-term shares in the stock market. The so-called long-term holding should be over half a year according to the domestic standard.

That being the case, stocks will not be sold now.

In addition, during the "bailout" period, the agencies also made a common statement: they do not sell stocks below 4500.

Although there is no evidence that the certification company has made similar guarantees, as the "rescue market" coalition forces have said, it seems that the main force will not take the lead.

Indeed, the analysis of the above pactions is not unreasonable despite the fact that they have been deductive.

In overseas markets, there has been a government led "bailout".

They are very long, and at that time, the relevant institutions bought stocks, bonds and so on, some of them will take seven or eight years.

This is because the "bailout" itself is a systematic project. From the investment to the withdrawal of large capital, there is a need for close planning and careful arrangement. From the point of view of "saving the market", it will not be completed in one, two years or two or three years, and the funds will remain for a long time.

Of course, the situation may be different in China, but there will not be a "short term" situation of "bailout" behavior, because it can not achieve the real purpose of "bailout", and the certificate company has already been over the table, that is, they will hold for a long time.

Because the information is not pparent enough, it is understandable that investors are worried about whether the securities companies will sell stocks now, and it is also easy to be misled. It is necessary to improve relevant information disclosure in this respect.

However, for investors, it is necessary to stick to rational thinking and pay attention to the holding of certificates. But it is not necessary to guess the time when people will sell stocks.

In fact, judgement

Whether the stock will be sold or not, the most important point is whether it has reached the goal determined when it first entered the market.

At that time, the company expanded its capital in a hurry and borrowed heavily from the commercial bank through the central bank's endorsement. The purpose was to maintain market stability and avoid systemic financial risks.

Over the past three months, on the surface, this goal seems to have been achieved. Now the market has basically resumed its own operation, and IPO will also resume.

However, it is also noted that there are still restrictions on the sale of shares by major shareholders, while the stock index futures trading is strictly controlled, and its basic function has been greatly restricted.

Also, the stock index did not return to the highest level after the "rescue market". The gap of nearly 20% is also the reason why the company is still losing 20%.

In this case, if the certification company really shipped, then the market is obviously unbearable.

After all, 13000 billion yuan is not a small figure. Now, the market value of the free circulation shares of the two cities is only about 10 trillion yuan.

Therefore, in some ways, if the selling is considered, the card company is faced with liquidity risk.

In other words, only when the risk is eliminated, can it begin to withdraw smoothly.

As for the market's doubts, it is worth more than ten billion each time.