Investment and financial management is a lifelong

 I will be your life is a lifelong investment and financial management, there is no experience of failure, it will not really understand the essence of investment, financial significance. Like not experienced failure in life as life is not perfect. Winter comes, can spring be far behind? opportunities for profitable investment seems less and less, and our financial lives are like the trees bud, is pregnant with vigor.
2008  4 months, used to describe the Chinese A-share market trend of the most appropriate word should be mm is how to reserve fracture. Even Investors finally realized: paper wealth is easier to disappear just as quickly. When the frenzy to cool down the market, many people found that: the original he did not our readers some of the surviving investors to share experiences about their investment and financial wisdom. They have all gone through the market, , the world did not God. they like you, have experienced failures, but through the accumulation and serious study of the market have a more profound insights. investment and financial management is a lifelong thing, not a failure experience, investment will not really understand the essence of the meaning of financial management. like not experienced failure in life as life is not perfect. winter comes, can spring be far behind? opportunities for profitable investment seems less and less, and Our financial lives are like the trees bud, is pregnant with vigor.
Hill: The stock market is concentrated in this life in order
human exposure to the market the last laugh, experience is the most important. you money out of the stock market can be, but can not look away the stock market. because the successes are boiled out, the opportunity will always be there for people. in the stock market downturn is the best poised accumulation stage, which is life is the same. that the cultural level of their Villa upper primary only, beginning in 1977 but never published in a newspaper article; do not feel how successful investment. But as early as December 2005 to call out The focus on human exposure to the market the last laugh, experience is the most important. And Speaking of the current stock market environment, investment advisory bodies as a partner, he has proposed: Any rebound is an opportunity to ship. But He also said: You can put money out the stock market, but can not look away the stock market. because the successes are boiled out, the opportunity will always be there for people. in the stock market downturn is the best poised to accumulate stage, which is the same as life.
started his sea-soaked Villa shares a wealth of life experience, was born in Beijing, there to experience the countryside in Heilongjiang cold, and later shift the Zhongguancun computer the first person .1997 April, he first contact with the stock. then do not understand anything, to see the stock market every day up to open the account to the securities company, first bought shares of Shenzhen Development Bank in 2000. (000001). purchase price was 13.77 yuan, to buy the start up. Then he tried subscription of new shares in the building's sign children in Beijing, opened the first day we sold, earning 1.1 million. Villa then that stock is really interesting, fun than the management of the restaurant, not tired, make money faster. So, they increased investment in the stock market. but not last, soon began to decline in the market index, in the hands of stock market value evaporate. At this time, a little Villa was kept around listening to stock analysts began, often spend a hundred dollars to hear lectures analysts, investment advice and sometimes even playing phone down the light in January to 2,000 yuan telephone consultation. Nevertheless, the decline is still difficult to pull. At this time, the book has lost 30%. Hill recognized that gambling from throwing in the towel, costing him to lose out. Shenzhen took over a company; two judgments of myself that the next market trend is still not good. can not continue to blindly listen to a number of stock analysts, or else it will not pay down the end.
few months later, Villa to Shenzhen securities investment climate even more intense this place, watch the stock market while working. In business dealings with customers, he found an old stock market investors have entered the special One can only rise. So he began to find ways to close the : A bowling teach each other, teach each other a stock. Resort to such investment in the stock to find a For stock information data, and press the into 3000, after a week down not up. Results unable to go pay a fee to sell, after throwing the skyrocketing. and then buy again in the vicinity of deep Hanny 6 yuan (000,009, homologation of the predecessor) , also bought at the time of Yichun Engineering (000403), has now delisted. Even more amazing is that the Department of Troika Delong mm Torch, Xinjiang Tunhe, alloy investments are bought all of the Villa. in these stocks in Yichun Engineering get the most death, but at least .12 million earned money, but then fell to 6 yuan, also rose to 40 yuan. Some of the other stocks have risen more than 100, but the early to thrown. It now appears that Hill was bought a Chinese stock market a few historic Zhuanggu.
this time, the Villa to know to tap the stock market news, trading volume should be observed. He summarized four criteria: funding decisions, broader market , the dealer decided to stocks, the value of the price, interest-driven behavior. out of the stock market's obsession, Villa abnormal hard this time, his home stacked with a thick pile of notebooks, the above data in mind over the stock, painted over a variety of graphical form. just three or four years, he information on the stocks by heart, and master the many technical analysis tools. One of the most good is to do trend analysis. state-owned shares I can not do without reduction of the macroeconomic trends Run the judge, in 1998, when macroeconomic trends Villa also felt the impact of movements of individual stocks. For example, in 1998 by floods and the Asian financial crisis, China's economic and August 10 in the same year in line below. Villas ask this What is, just find the main reason for the line. And with respect to this reason, good or bad but rather a secondary macro. This principle for state-owned shares in 2001, caused by the reduction of the turn of the Contracts have been fully embodiment, and in 2008 for screen, the stock began to fall, many investors can not see the direction. At that time Hill has four lectures to others. This day coincides with Friday (July 27, 2001), Hill is ready to go to the Capital Library lecture manuscript. day outside the market fundamentals, and suddenly intensified heavy bad release. told: Moutai (600519) price will be issued 6.5 million additional shares of stock owned. So, Villa in lectures to four A4 length of paper, talking about about the lecture scene, Villa on the screen more than 480 listed stocks, the audience thought he was in the recommended stock, the results of the bottom of the screen, a line of black: people who hold these shares sell strongly on Monday, suddenly a scene uproar. and in July 30, the stock market really there for the third straight Black Monday, and the entity is a 108 K line of heavy volume Yin gapped down. at this time is much in line high above, the stock market really The entered the long Xiongtu.
In fact, Hill has long been predicted by observing the K line of this result, when the policy after the introduction of state-owned shares. he judged more carefully tape technology trends, and was surprised to find: 2001 July market trend in the formation of a the stock market will fall no doubt. Soon, market trend Villa confirmed this fear, on July 27 a year below the line (see Figure II). but Villa always put on line as a watershed in bull and bear markets, he do not think that
1. a bull market and losing money faster than the bear market, but also pay much more.
2. in line not only is a technical trend line, or a policy line, representative of the general macroeconomic trend line, it is usually beef Bear watershed turning point.
3. into the stock market need to understand the basic principles of eight, including four points outside the market: policy, Fundamentals, News, technical; market four points: time, space, volume prices in line.
4. funding decisions, the broader market, the dealer decided to stocks, the value of the price, the interests of classical conditioning.
5. trends and turning the basic elements judged money and prices. follow the trend in the operation, transition is predicted. trend point of view of energy, when energy is no qualitative change occurs before the transition is not defined trend. In psychoanalysis, the trend is reflected between the market and investors. If the lock turning point is profit, then the trend is the source of profits.
6. stock market speculation, while it is personality, fried this life, all my life experiences are set out in the stock market. if only to see stocks blindly to see prices, ignoring the government's policy oriented, forget past experience, will undoubtedly set.
7. the stock market is often nothing new cycle trend continues to repeat the past path. The only difference is their time to market index and Technical points.
8. operation, active stock market is only the profit of high combat operations. Despite uncertainties may still exist after, but still need to be patient attention, always well prepared with short positions.
9. When the stock price close in more than 10% from more than short-term moving average, is generated between the floating profit margins. This attraction, like the need for cement to build a house brick, the stock market is the K line in the brick, cement is the transaction volume. Therefore, understanding the market as the understanding of natural phenomena, as do all need a down.
10. themselves, their experience, their accumulated over many years to learn something.
11. Some people say there is no direct relationship between macroeconomic and stock market, I say look at GDP, five-year plan depends on the national economy, to see government policy, particularly with stock market-related policies.
12. stock market changing, not deliberate how, with a set of things inside.
13. not just the money is called investment, less investment in money-losing also called.
14. market did not achieve Excellencies (fair, open, fair) before principle, everything is absurd. tradable share reform this institutional change is to talk about value investing.
15. the stock market has always been most people lose money place, did not expect to lose money on the other.
LIU Investment Quotations Quotation
does that mean? first phrase is that the market will automatically adjust the deviation from the greater price, we not just have been put to death the price of disorder, but the back half of the sentence means that the market is usually wrong, and you'll get the price deviation , we can have the opportunity to arbitrage.
second sentence: Model Law is completely different, such as natural science theory of gravitation, we can rely entirely on within a certain range it, a tree laden with ripe apples, we need only under a tree and so on, Apple will fall a bit, which is inexorable law, but can not do to rely on financial models. like a magnifying glass, financial models and rules with which you will see more clearly, if perhaps not a blur, but a magnifying glass can never replace the eyes, then say the second sentence Masters said the financial model is helpful, in fact, the most important is the people. is to have a trading strategy, , to investment companies, for example, the strategy itself is not a short time to complete things, like fried steak is a short-term thing, it must be a beef stew for a long time to do the same.
second aspect is Risk management is the most important, you need much more than the trading strategy to be careful. Although in theory, arbitrage is risk-free, but the actual operation is not the case, particularly statistical arbitrage, such as the sample is large enough, the investment combination is a positive correlation and so on. where risk management is not simply liquidate, stop, is the door we need to carefully study the subject, the most fundamental of risk management are two, first, how can we ensure that we make money, that is, a given asset time and under the premise of the biggest losses of income, the second step, consider the good news is the extreme case, such as stock rises and falls, how will you do to ensure that they are not bankrupt.
The third aspect is the personal ability of traders including market feel, Liu Hong has been the great music that is playing the keyboard not contagious, but to play by the artist, the effect is completely different, the same, excellent trading systems need good actors to fully play to its effectiveness, such as found market opportunities, trade entry and exit timing, these are can not be solved by science and technology. For example, index futures arbitrage, assuming that 1000 spot, futures, 1,200 points, 200 points would be spread there, arbitrageurs can go to lock the 200 point spread, but may spread into 300 points tomorrow, so that the funds on the second day of the book would be negative, if the next day is the date of valuation, then the net is negative, and when the maximum spread who do not know, in this case, a trader to do is determine how much spread is the big price difference, how much price difference is a small price difference, so choose the timing involved in science and technology can not be resolved with time, that is, transactions time member of their wisdom.
end of the interview, Liu Hong emotion, with and this market a success with his career, practical preparation, and can severely seize the market opportunities of the people are winners.
Wu Jin: three years, Chinese contemporary art market ushered in an unprecedented bull market, prices rose even more than 100 times. However, in ten years time before the Chinese contemporary art, highbrow, Western investors are smart to seize this first a market, now earn pours envy was .2008, the art market's bull market coming to an end, and even to repeat China's stock market dropped 6,000 points from 3,000 points to the scene.
Part 3 by / correspondents Korea McNair Photography / Zhanyi Jie Wu Jinsheng now live
leisure: the morning driving his Mercedes-Benz SLK200 general to the Lido Holiday Inn Plaza, next to Starbucks, drink coffee, side and head of the auction company's business to do business? most of the auction company I heard he is very good collection of paintings to his collection to auction; time and half for the afternoon workout, the other half mainly gallery stroll, and occasionally buy a few paintings; at home holding his son, Wu Jin Three father had just done a month ago.
100 万元 creator of the commission were in 2005
Wu Jincheng the second China International Gallery Exposition, at the time an exhibition of works of Liu Xiaodong, Ng Jin began to well-known rivers and lakes. good show just the opening half. and hold it in less than a year, Liu Xiaodong Wu Jin will this ; this time deal for my clients to earn 100 million, investment income rate of 300%, after 2006, ratio, the painting once again appeared .2008 April 9, Convention and Exhibition Centre, Wan Chai, Hong Kong Sotheby's spring auction in 2008 into the next day, in the The special auction, However, a record price. because the Chinese art market in 2005 the highest price on the $ 500,000 coming to an end, compared with the international market, too cheap, the price of Western artists with the level of about 5,000 million dollars. frankly: because when he saw the great Chinese and foreign art market prices fall, so three years ago that the investment decisions made almost no risk.
, of course, only to see the price drop is not enough, Wu Jin told us: Liu Xiaodong is the most important Chinese contemporary oil painting spokesman, one of his art transformed since 2004, live painting series, The same style series of works, such as Today, the works of Liu Xiaodong single 2 m is the average price of 500 million yuan, to draw a total of 18 was only 50 million. more value ah!
10-year investment history
graduated from the Central Academy of Fine Department of Art History Institute of King Wu, the first in the television media, ; This 8-year career in the mass media can be described as benefit for Wu Jin, the contemporary art market is definitely the key words: very injured, who in 2007 rushed to the people will face as today's stocks as quilt makers, like the embarrassing situation. look at the art of attitude, to come into contact with artists across the country, so that the accumulation of experience and original art history coupled with his background and childhood love of painting, which formed its own artistic judging methods and perspectives.
is For Wu Jing CCTV work to benefit the two is this: He can use his salary and other colleagues signed a partnership for the artist what the agent, then began his career as an art history of investment advisers. This may also dig their own can not afford, so investment in the joint staff together. then, some people do not understand dropped out, and he lost profit opportunities today. , Xia Junna, and Yin have come to the fore, among Zhang Xiaogang, Yue Minjun, Wang Guangyi and other frontline artists camp, their angel investors to buy on their initial offerings.
bull market of art work on the side of Wu Jing, while easy to buy a painting of life come to an end in 2005 because of Chinese contemporary art market this year, the big bull market came to. money, people are concerned about the market, but really not much to start with. mainly because they do not understand contemporary art, to distinguish what is real does not come out good works, most people still follow the trend of chasing Qi, Fu. but At that time the price of modern Chinese painting and calligraphy have been very high, even a lot of bubble, prices starting in millions of dollars more but it may buy back the works are rarely authentic. suddenly one day wake up: the true and false Fu spend millions on their struggle, as moving to new areas of investment: Contemporary painting section, where not only low prices but also the international investment is popular. because of Contemporary Art in 2002 before and after, has taken the lead in the Western mainstream art investment market is becoming hot.
10 years of professional accumulation finally apply their knowledge in this wave of market in .2005? 2006 that two years, with the words of Wu Jin is Yeah. also regret to buy back the works of Wu Jing is not used their own money, he was just a broker. earned 100 million yuan, and the other at least earned 80 million yuan. the former can attract large foreign investment in the game, while the latter is almost only the Chinese themselves in the play .3 years ago, no one expected that this wave of contemporary painting market is so strong. Just over three years, has become a little money is not worth mentioning. : So far, only Zhang works in the global market's total turnover is about 400 million yuan, about 20 participants, the average profit 20 million yuan each, in fact, two of which were to split the two billion. However, in addition Luo Zhongli, Liu Xiaodong and a few other works, China's top stars, such as artists Zhang Xiaogang, Yue Minjun, Fang Lijun, Zeng, 80% of all trading profits into pockets of Western investors. century and the early 90s, the Chinese have just realized the subsistence level, few people concerned with contemporary art. foreigners who admitted earlier, representing the first move, no way. Western investors have been in the , so, China is not suitable for large-scale contemporary art sector has been buying into the gradually stop the Obviously prices have reached the top of the inflection point has arrived.
only 50 million dollars, and are only, last fall when he shot the price of 104 million. This is an investment, he would lose 50%. price changes, they only have the indicator light of meaning. data have been expressed: Contemporary Chinese Art investment rose plate must have reached the top of the inflection point has arrived.
wait for the second wave of market
Chinese Contemporary Art 2007 bull market continues, Wu Jin showing a trace of regret, but then they show like them so fast earn money, but I did not drop 3,000 points today on the injury. rushed to the people would face if the stock market today, those who like the quilt, like the embarrassing situation.
Wu Jin said that he welcomed the adjustment of the art market, and now adjustments to the rational state, 60's artist market, I do not have enough money as foreigners who do play. Now, after the r l70 group of artists for the investment, I can make do. , the Wu Jin has become a collector status. He also rented a warehouse specifically for the storage of their collection. for l70 collection of artists after the r, in the Wu Jin seems to have the time and mood for brokers quite different: second wave of its own market will come, but I do not know a specific timetable, which is actually the greatest charm of investment. Wu Jin made life very pleasant: said.
art is my life I
from kindergarten soft spot on the arts, coupled with years of professional training, art appreciation has become a deeply ingrained instinct, just wanted to see a good picture possession, unless enough money in my pocket. what is for investment or collection of works of art, in fact, difficult to distinguish, can not be completely separated. Art investment broker a lot of pressure in this line, they might offend a large number of customers. Now even though I Many customers still have been asking me There are three considerations:
influence? artists and their works in the academic market and the mass media and other aspects of well-known and indispensable;
creativity? similar to a stock's fundamentals, including artists talent, technology and other aspects;
reputation? mainly refers to the artist's personality, to ensure the quality of their work.
which creativity and the most difficult to grasp what these fundamentals and can be subdivided into: art training, unique, in the context of art history, location, high quality standards hh or by such artists out of the current domestic, to meet all the conditions, only 30 or so, they are works of art on the market, prices are basically up and down in the ten million yuan.
when the big funds in the field of contemporary art can not find the time, it will go to find a new way, such as modern Chinese calligraphy, ancient painting. Traditional Arts and Contemporary Art is not in contradiction, if not the traditional foundation of contemporary art, no antecedents, then it will just flash in the pan.
the common characteristics of investment experts
above, we would like to share a few private investors and investment experts in the life experience experience, these Ebb Tide extracted after the philosophy and sentiment may be an inspiration to you. Each person is different way to go, no need to copy from, but the relative success of the investors who have some common characteristics, dig out These attributes allow you to finance and investment career detours, but also let you in today's market downturn is more serious like a ...