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Heavy weapons on the investment battlefield
Hello everyone, welcome to be a guest, 500 investment notes, today we will continue to read Qi Junjie's book on Finance.
There is now a topic that has been discussed in friends, including traditional Chinese medicine, stock trading, financial management, and borrowing money. So why do you feel scared when talking about stocks? Because the stock market is a pit in the eyes of many people, people enter the market with the idea of making a fortune, but the result is that most people lose money and leave. The stock market seems to have a low threshold, but in fact the barriers are very high. Professional investors are very hard-working and require a lot of reading and computing research.
Let’s first clarify some basic concepts of stocks. Stocks refer to ownership certificates issued by listed companies. Usually shares have ownership, decision-making rights and income rights. However, the stocks we buy on trading software generally only have the right to earn. Why can stocks make money? The core lies in the business of listed companies. The bigger the business of listed companies, the more profitable it will be, and stock holders will receive more dividends. If the stocks of listed companies rise, you make a lot of money and others are jealous of them. At this time, you can also sell the stocks in your hands to others at a high price to earn the difference.
Issuing stocks is the way for the company to raise funds. If the company needs to grow and grow, it requires more money. The methods for listed companies to make money include debt financing and equity financing. In layman's terms, debt is to borrow money from you and repay the principal and interest at that time. Equity means that you use money to buy shares. You have the right to distribute dividends, but you also have to bear the risks of the business operation. During the investment process, we often hear experts mention the primary and secondary markets. In fact, these two markets trade the company's equity. The difference is that companies in the primary market are not listed. We often hear about venture capital and private equity investment in financial news are in this primary market, where investors directly ask entrepreneurs to buy stocks.
The secondary market is where we usually buy and sell stocks, that is, the stock exchange. Currently, we have five stock exchanges here, namely Shanghai Stock Exchange , Shenzhen Stock Exchange, Beijing Stock Exchange , Hong Kong Stock Exchange and Taiwan Stock Exchange . A company's listing is also called an IPO. In fact, it means the company's initial public offering of shares. After the company goes public, everyone can learn about the company's business and profitability through more channels, so as to decide to buy and sell the company's stocks on exchanges, obtain the company's profit dividends and the premium brought by the rise in stock prices.
Our capital market is divided into five sectors, the first board market includes the main board and the SME board. These are large companies with stable development, the threshold for access assets is zero, the trading rules are t+1, and the daily limit is 10%. The second board includes GEM and Science and Technology Innovation Board . Here are all technology innovation enterprises. The access asset threshold for GEM is 100,000 yuan, and the access asset threshold for Science and Technology Innovation Board is 500,000 yuan. The trading rules are all t+1, and the daily limit is 20%. The third board is what we call the New Third Board now. Here are innovative small and medium-sized enterprises. The access asset threshold for the Selected Layer is 1 million yuan, the access asset threshold for the Innovation Layer is 1.5 million yuan, the access asset threshold for the Basic Layer is 2 million yuan, and the trading rules are t+1. The daily limit is 30%, the daily limit is 50%, and the daily limit is 100%. The fourth board is the regional equity trading market , and the fifth board is the brokerage OTC market . Both sectors belong to the over-the-counter market. If mainland investors want to invest in the Hong Kong market, they need to pass the Shanghai-Shenzhen-Hong Kong Stock Connect. The entry asset threshold is 500,000 yuan, and the trading rules are t+0, and there is no limit on the rise and fall.
If an investor wants to directly purchase the stocks of a listed company, he or she needs to open a securities trading account in the securities company, commonly known as opening an account. Now you can open an account online through the mobile securities company APP, but each investor can only open up to three accounts. It is recommended that you choose a famous securities company to open an account. Our trading hours for A shares are Monday to Friday, from 9:30 am to 11:30 am and from 1:30 pm to 3:00 pm every day. The market will be closed on weekends, statutory holidays, .
stock transactions also require costs. These costs include commissions, with a minimum of five yuan per transaction, with a commission ratio of three or two ten thousand. Stamp duty, 0.1% of the transaction amount, transfer fee, 0.002% of the transaction amount.If we trade frequently on the stock market, then the transaction cost of will be very high. There is also an on-site fund transaction, which does not have stamp duty or transfer fees, and only pays commissions. The funds we invest in stocks have a third-party custody policy, that is, securities companies only manage the funds by securities banks, so as to ensure that investors' funds are not illegally misappropriated by securities companies. During the listing process of listed companies, our systems include approval system, approval system and registration system. Now we are slowly turning to the registration system and . For listed companies, the registration system has clearer regulations on listing and delisting, which is conducive to the healthy development of the stock market.
When we talk about asset allocation, we often mention stock indexes. The so-called stock index actually represents the overall trend of a series of stocks. Usually, it includes wide-based index and narrow-based index. We only need to master 6 wide-based indexes in domestic investment. First, , the Shanghai Stock Exchange 50 Index , which contains 50 stocks with the largest market value in the Shanghai Stock Exchange. Second, Shanghai and Shenzhen 300 Index , which is composed of 300 large and medium-sized stocks in the Shanghai Stock Exchange and Shenzhen Stock Exchange. Third, GEM index is mainly composed of small and medium-sized stocks represented by technology and medicine, but it also includes some large-cap stocks. Fourth, , CSI 500 index , it is composed of only 50% medium-sized and 50% small-sized stocks. Fifth, Hang Seng Index , it is the price trend of the Hong Kong stock market. Sixth, the Science and Technology Innovation Board 50 Index, it is the top 50 stocks in the Science and Technology Innovation Board.
Overseas market, we mainly look at the S&P 500 in the United States and the Nasdaq 100 in . In fact, we don’t have to figure out how the stock index is compiled. We mainly know its stock composition and use it to build an investment portfolio and achieve profitability. Just like we use the refrigerator to store food, and there is no need to understand the working principle of refrigerator compressor . The narrow-based index refers to the relevant indexes of some industry and style themes, such as banking index, pharmaceutical index, chip index, etc.
When it comes to stocks, the most intuitive thing for everyone is to look at the K-line. In trading software, we can see red and green fluctuating figures at any time. The meaning of these figures is, we can simply find a book about K-lines and learn about it. It is not very meaningful for our asset allocation. The first one that is more useful among the technical indicators of the K-line is trading volume. Usually, the stock price will be in harmony with trading volume. The trading volume we are talking about here is not how many transactions are sold, but how much transaction amount is sold. We mainly look at the volume of the volume. daily volume , ground volume, shrinking volume, increasing volume means that the sudden increase in trading volume over a period of time. The volume is the maximum volume. We can use the daily K-line , weekly K-line, and html April K-line to see the volume of the sky at different stages. The volume of the shrinkage is the volume of the transaction, which decreases day by day, and the volume of the ground is the volume of the transaction to the lowest, indicating that the market is light and no one is willing to trade. The volume of the ground is also divided into daily K-line, weekly K-line, and monthly K-line are the recent earth volume, historical earth volume, and phased low volume.
The second indicator is the moving average, referred to as the moving average, also known as the cost line, MA. It represents the average cost of buying stocks over a period of time. Usually in the software, we can draw out the average line of five days, 30 days, 60 days, 120 days, and 250 days. The meaning of the moving average lies in the first place. It can track the trend. The second moving average is the average cost of the market. It has a support role when it falls. It has a pressure role when it rises. The third limitation has lag. It cannot quickly reflect the latest changes in the market. Let’s first briefly understand the concepts of these two technical indicators. Later, when we talk about investment strategies, we will also talk about specific application methods.
Fund investment is also a heavy weapon on the investment battlefield. Tomorrow we will continue to talk about the basic skills of fund investment. Follow 500 investment notes and listen to the interpretation of financial books for free.
