Factors that lead to the defeat:
* There are two main functions, investment function and financing function, the key depends on which function you take as the theme, with the investment function as the main body, the investment of shareholders has been rewarded, which will attract more people to participate in it, a large number of funds into the market, and also complete the financing function. * Focusing on the financing function, a large number of IPOs have caused serious blood draws, investors have not been rewarded and have suffered heavy losses, more investors dare not participate, and the financing function will be overshadowed by the long-term downturn.
Institutional deficiencies: The system of ** is flawed, leading to unfairness and distortion of the market. For example, there are deficiencies in the trading system, information disclosure system, regulatory system, issuance system, etc., so that some investors can take advantage of these system defects to obtain improper benefits, while other investors are in a disadvantageous position.
1. The transaction is not standardized, and there are many chaotic phenomena such as quantitative trading, refinancing, refinancing securities, and snowballing, which have become a tool for criminals to cash out and run away.
2. Information asymmetry: In **, information leakage is a common problem. Some investors can take advantage of the information advantage to obtain more investment opportunities and benefits, while others may make wrong investment decisions due to insufficient information.
3. Weak supervision: There are weak supervision or regulatory loopholes in the regulatory authorities, so that some criminals can take advantage of these loopholes to commit fraud, cash out and run away, manipulate the market and other illegal behaviors, and damage the interests of other investors. And the rules do not have severe regulations to crack down on these wrongdoers.
4. Issuance system.
The issuance speed is too fast, and the quality of the company is not high, which has become a situation of insufficient hematopoiesis and serious blood drawing.
In short, the long-term bear is multifaceted, the investment philosophy is fundamental, and the rules are the guarantee for the realization of the concept. Only by strengthening the supervision and law enforcement of the market can we protect the legitimate rights and interests of investors and maintain the fairness and order of the market.