Take the vegetable market of 100 kg peanut as an example:

Make the following assumptions:

Peanut can't share out bonus, share allotment and share allotment, and there is no expected loss and expected profit.

Vegetable market -A shares

Peanut puree

Sellers-retail investors, bookmakers, funds, insurance financial institutions (all people or institutions that buy and sell stocks)

There is no limit to the number of vendors and the funds.

Peanuts were originally worth one yuan-the issue price of stocks.

Suddenly came the news that there was a serious shortage of peanuts abroad, and 500 Jin of peanuts should be purchased from this vegetable market. (Significantly positive)

So the price of peanuts rose collectively the next day, reaching 2 yuan.

On this day, only 10 vendors sell peanuts to others.

Then you can be sure that this 10 manufacturer makes money.

The new 10 people who come in to buy peanuts are theoretically losing money.

The remaining 90 vendors theoretically earned 1 yuan.

Since then, the good news about peanuts has continued! ! !

But these 90 vendors are all dead cows (they don't sell after being killed), and the remaining 10 kg of peanuts are circulating in the market. As a result, peanuts rose to 10 yuan a catty.

Here's the situation. The original total value of peanuts was 100 yuan, but now it is theoretically 1000 yuan. Among them, 900 yuan is a dead cow and does not sell it; In addition, 10 Jin of peanuts, if you buy them at a low price and sell them at a high price, you will make money. 10 yuan will not lose money for the time being.

After the result 10 yuan, bad news spread frequently.

At this time, it should be divided into several situations:

1. Those who bought at the highest point 10 lost money first, so they sold at a loss; If you don't sell it, you will lose 9 yuan if you fall to one yuan;

2. The remaining 90 people sold desperately when the market fell, and the newly bought ones lost money;

3. The remaining 90 do not sell or kill, resulting in a relatively small decline, which will continue to rise after a period of consolidation;

4. The remaining 90 people did not sell or kill, but still fell to the original point, 1 yuan. These 90 people rode the roller coaster because of greed or laziness (value investment), and the virtual wealth rose from 1 yuan to 10 yuan and returned to the original point.

Although the proportion of 90% is relatively large, it is always retail investors who chase up and down, and it is always retail investors who ride roller coasters.

6. The above shows that losing money in the stock market is not really losing money. Before you sell it, all you lose is virtual currency; The same is true of making money. 90% of the high-level products don't ship, just watching the virtual currency come and go.

7. Stock trading is the same as trading. If the price of a commodity rises and can be sold on the way up, it will make money; It is the value investors who don't rise or fall; It is the blood bank of the stock market that chases up and down.

8. Some time ago, the price of vegetable oil and oil rose, and many businesses expected it to rise. As a result, they hoarded it and stopped selling it. As a result, when the oil price dropped, didn't his virtual wealth evaporate?

Summary: The total market value of the two cities is the most meaningless indicator.

Now do you understand where the money comes from and where it goes?

Typing is tiring. When I first entered the stock market, I was as confused as you. Later, I imagined the stock as a commodity, and the problem was solved, but the stock market still had to be valued. Commodities are not counted as national market value.

The following is from the network.

Now everyone in the stock market is making money! ! Who is losing money?

I'll tell you a story and tell you who lost money.

Suppose a market, there are two people selling baked wheat cakes, only two people, let's call them baked wheat cakes A and B.

.

Suppose their baked wheat cake price is not regulated by the price bureau.

Suppose they can break even every dollar they sell (including the value of their labor).

Suppose they have the same number of biscuits.

-Economic models are always like this, assuming a lot is needed.

Let's assume that their business is very bad and no one buys sesame cakes. So they stood bored for a long time.

A said it was boring.

B said it was boring.

After reading the story, you said: boring.

The market at this time is very inactive!

In order to make everyone not bored, A said to B, Let's play a game. B agreed.

So, the story begins. . . . . .

A spent one yuan to buy a baked wheat cake for B, and B also spent one yuan to buy a baked wheat cake for A, and it was delivered in cash.

A will spend two yuan to buy a baked wheat cake, and B will also spend two yuan to buy a baked wheat cake and deliver it in cash.

A will spend three yuan to buy a baked wheat cake for B, and B will also spend three yuan to buy a baked wheat cake for A and deliver it in cash.

. . . . . .

So in the eyes of people in the whole market (including you who have read the story), the price of baked wheat cakes soared and soon rose to each share.

A sesame seed cake, 60 yuan. But as long as A and B have the same number of cookies, no one will make money or lose money, but

Their revalued assets have "appreciated" The "wealth" of both parties is many times higher than in the past, and the value has increased.

A lot, "market value" has increased a lot.

At this time, a passer-by, C, passed by an hour ago and knew that the baked wheat cake was one yuan. Now it turns out that it was 60 yuan.

He was surprised.

An hour later, passerby C was even more surprised to find that the baked wheat cake was 100 yuan each.

After another hour, passerby C found that the baked wheat cake was 120 yuan, and he bought one without hesitation.

Because he is an investor and a speculator, he is convinced that the price of baked wheat cake will go up, and there is still room for price increase, and someone has given it.

Exceeding 200 yuan's "target price" (in the stock market, he is called a stockholder, and the person who gives the target price is called a researcher).

Under the demonstration effect of "making money" of sesame seed cake A and sesame seed cake B, even under the demonstration effect of passerby C, next,

More and more passers-by buy sesame cakes, and more and more people participate in the sale. The price of baked wheat cake is rising, and everyone is very upset.

Happy, because strange: everyone has never lost money. . . . . .

At this time, you can imagine that whoever has fewer biscuits, that is, who has less assets, will really make money.

. Those who participate in the purchase, who don't have sesame cakes in their hands, will really make money! And the people who sell it are very sorry-because of the burning.

The price of cakes is still rising rapidly. . . . . .

Then who lost money?

The answer is: no one loses money, because many people who pay high prices for baked wheat cakes have recognized high-quality equivalents.

Assets-sesame cakes! And sesame seed cake is obviously better than cash! How much interest can cash deposit in the bank earn? What is more cost-effective than flying?

Rising sesame seed cake? Even everyone agrees that the demand for baked wheat cakes in the market is in short supply. Can I buy sesame seed cake futures? So it appeared.

Get a search warrant. . . . . .

Someone asked: will you never lose money by buying sesame cakes? It seems so. But the world is so strange that suddenly the market

A man named Gigi Lai came along. Gigi Lai said, sometimes lose! So when will everyone lose money?

Hypothesis 1: There is a price department in the market, and he thinks the price of sesame cakes should be one yuan each. (supervision)

Hypothesis 2: There are many baked wheat cakes in the market, and the price is one yuan each. (same theme)

Hypothesis 3: There are many goods in the market that can play this game. (question)

Hypothesis 4: everyone suddenly finds out that this is just a sesame seed cake! (Value Discovery)

Hypothesis 5: no one wants to play the game of buying and selling each other anymore! (The truth comes out)

If one day, any hypothesis appears, then on this day, people who have baked wheat cakes will lose money! Then who made money?

? It is the person with the least assets-sesame seed cake!

The story of selling sesame cakes is very simple. Everyone thinks that people who buy sesame cakes at high prices are fools, but let's look back.

People in our stock market. Some so-called asset revaluation and asset injection in this market are different.

? In the case of high ROE and high premium, the principle of asset injection is actually the same as selling sesame cakes. Who has the least capital?

In production, whoever makes money is the one who gets high income!

Therefore, as an investor, we should treat asset revaluation and asset injection rationally, and fool others without fooling ourselves.

Especially don't fool your money!

Asset injection under high ROE, especially the backdoor listing of securities firms, purchase the assets of major shareholders and issue houses through additional issuance.

When injecting assets such as real estate, you must polish your eyes again and be cautious again!

Because, you are likely to be a passerby with expensive biscuits!