The securities market has influenced modern society in its unique way and played an important role in social and economic development. Therefore, we should have an objective evaluation of its function and role. 1. It is the bridge between the fund supplier and the fund demander. The securities market provides a market with unified rules, which links securities issuers, securities buyers, securities transferors and intermediaries in this market and facilitates the issuance and circulation of securities. 2. The securities market is another channel for enterprises to raise social funds. Bank savings deposits and insurance companies absorb insurance premiums, both of which are channels to absorb social idle funds. Ordinary enterprises cannot engage in deposit business, insurance business and financial trust business, and their channels of absorbing funds can only be obtained through banks, insurance companies and financial trust enterprises except the securities market. The securities market provides an important channel for ordinary enterprises to directly raise funds from the public. Companies can absorb some social funds into the production field by issuing stocks or corporate bonds. 3. Provide the government with the regulation of open market operation. Securities trading in leveraged securities market can be measured by many indicators, one of which is the ratio of securities returns to securities prices, which is called securities returns. The level of this index has a considerable impact on the changes of other factors in the whole financial market. Therefore, the government can influence the securities interest rate in the securities market by buying and selling treasury bonds, just as the central bank adjusts the rediscount rate to influence the discount rate of commercial banks, and it becomes a lever for the government to indirectly regulate the financial industry. 4. The securities market is the regulator of social capital redistribution. Securities investors are very sensitive to the returns of securities, which are largely determined by the economic benefits of enterprises. Enterprises with high economic benefits have more securities investors, and such securities are also very active in the market. On the contrary, there are fewer and fewer securities investors in enterprises with poor economic benefits, and the market transactions are not prosperous. Therefore, some funds in society will automatically flow to enterprises with good economic benefits and stay away from enterprises with poor benefits. This flow redistributes social funds. On the other hand, the securities market is interrelated with other financial markets. When money is loose in society, hot money will automatically flow to the securities market. Active trading in the securities market will inevitably attract more social hot money, reduce the cost of issuing securities for companies and facilitate corporate financing. On the contrary, when social funds are tight, the funds in the securities market flow to banks, the cost of issuing securities for enterprises increases, and the investment scale decreases relatively. Changes in the relationship between supply and demand in the securities market can also form this spontaneous adjustment. The relationship between supply and demand in financial markets in different countries is different, which leads to different market prices, and funds will also flow between financial markets in different countries. The stock market is an important indicator to observe the economic situation. Although the companies listed on the securities market do not account for the majority of the total number of companies, they account for a considerable proportion of the company's assets, which shows that listed companies are all large companies. Large companies are important enterprises in all production fields, and their development often affects the development of this industry. The index statistics in the securities market are precisely the stock trading status of these representative large companies, which can reflect the social and economic changes to some extent. Various indexes in the stock market can also reflect the surplus and shortage of funds in society, as well as the development of specific industries and enterprises. We should also see that the securities market also has negative effects, which also provides a place for securities speculation. Speculation in the securities market will cause market chaos, affect the order of other financial markets, and may even aggravate social contradictions. Undoubtedly, the development of capital market has promoted the development of economic construction. After 14 years of development, China's capital market, especially the securities market, has made more and more contributions to national economic construction. It not only provided nearly 900 billion yuan of direct financing for listed companies, but also provided 210 billion yuan of stamp duty income for the country. The number of listed companies reached 1380, and the market value reached 3.5 trillion yuan. In particular, the listing of a number of large-scale backbone enterprises has made the development of China stock market more and more inseparable from China's economy. In addition, as a place to provide direct financing, China stock market has attracted more and more attention from economic experts and business people, and increasing the proportion of direct financing has become the unanimous desire of economists and entrepreneurs. Therefore, in this case, the development of the capital market plays an increasingly important role in the national economy. My short-term investment experience: 1. Invest in stocks in the form of start-ups and leave with a profit of 2%. Investment principle: the short-term rise and fall of a stock is determined by its inertia. When they are rising, inertia will rise in a short time. When they are in the starting position, the probability of inertia rising is very high, but sometimes it will rise greatly or slightly. Floating code weight is the key factor that restricts their further rise, but generally speaking, it is still possible to rise by 2% to 3%. This kind of investment can be involved in a small amount. Second, investing in stocks that break through the weekly line can generally earn 10% to 20%. Investment principle: through long-term adjustment, adjust the stock price to the position where the weekly line forms a long position and is in a bonding position. If the volume is extremely shrinking or there are signs of wave-by-wave amplification, it proves that big changes are just around the corner. At this time, the pressure of profit liquidation is small and the floating code is light, which may be crazy. This kind of investment can be heavily involved. Third, investing in small-cap stocks with excellent growth can generally earn 10% to 30%. Investment principle: When a wave of market starts, small-cap stocks will definitely be hot spots, and growth stocks will definitely be sought after by investors. It is not difficult to find this type of dark horse through enterprise financial analysis and technical form analysis. 4. Investing in oversold stocks can generally earn more than 5%. Investment principle: some stocks that are not hot spots have fallen for a long time, giving people a feeling that they can't fall. If the stock price forms a golden cross below the 30-day moving average and closes a small positive line in the form of starting, it indicates that Big bounce is just around the corner, and the rebound targets are generally 10 moving average and 30-day moving average. Moreover, the dialectics of "taking" and "giving up" tells us that when the market is pessimistic and indifferent, short positions should gradually intervene in "taking", even if they buy sets, they will only lose time and will not lose money; Cutting meat in the bottom area is like when the building shook during the earthquake, but it didn't collapse, but you jumped out of the window and hurt yourself. Similarly, in the high position of Man Cang quilt cover, when it is determined that the trend is downward, it is necessary to decisively cut the position and "take off the order"; After the stop loss is short, you should be able to withstand loneliness, try not to chase up and down in the middle, go in and out frequently, and pay a heavy price for a "coin". Analysis of China stock market: 1. From immaturity to maturity, from fanaticism to rationality. (1) By the end of 10 this year, the market value of the stock market has exceeded 30 trillion yuan, and the securitization rate is 120% of GDP, ranking fourth in the world in terms of market value. (2) The market value of five enterprises in China has entered the top ten in the world, but there is still a considerable gap between their profits and other business indicators and the top five in the world. (3) The stock market structure has been adjusted. I remember two years ago, I proposed two 5%, which is the stock market. At that time, financial stocks only accounted for 5%, while the west generally accounted for more than 50%, and his entire stock market would be relatively stable. Western financial stocks have a price-earnings ratio of up to 20 times, so they are very stable. Another 5% needs to be changed in the bond market, and corporate bonds only account for 5%. If we want to improve the market, the results of this part should also be optimized. Judging from the situation in these two years, the stock market is leading. Our financial stocks account for more than 40% of the stock market, but the P/E ratio is still too high. In terms of corporate bonds, it seems that only 10%, and the development of the whole bond market is relatively backward. High-quality blue-chip stocks will play a positive role in the stable and healthy development of the stock market. The reform of equity trading has made the interests of major shareholders and minority shareholders consistent. Enhance the sense of responsibility of shareholders, but also increase the maturity and rationality of the market. (5) Institutional investors, mainly funds, hold about half of the circulating market value, which reflects the maturity and stability of the market. However, most funds have heavy positions in blue-chip stocks, which has also increased the bubble of blue-chip stocks to some extent. (6) By the end of September this year, there were 1 576,5438+0 listed companies in Shenzhen and Shanghai, and the number of investors with accounts reached10.30 billion, indicating that the market is developing day by day. However, there are only more than 30 million shareholder accounts (excluding capital accounts) actually operated every day. Of course, this figure is also very large, but compared with our population of 65.438+0.3 billion, it is still far from the "national stock trading". (7) The report of the 17th National Congress of the Communist Party of China pointed out: "Create conditions for more people to own property income". I think it is of great significance to say this in the document of the 17th National Congress. The so-called creating conditions, I personally think, refers to the establishment of a sound legal protection system, so that ordinary people can own property safely, clearly and safely, get property income and share the fruits of economic growth from the stock market. As taxpayers, we pay taxes to finance, and finance provides products for us to enjoy. But if we buy stocks, you can get benefits directly. Of course, in the past, property income accounted for 2% of our total income, while the United States accounted for 15%, indicating that their property income structure was relatively more, and they used movable property and real estate to invest in the capital market and get more income. Of course, we must strengthen the risk education for investors. (8) With the rationalization of distorted production factor prices, asset price revaluation has a multiplied basis. Second, the development trend of the securities market has not changed. (A) In the process of China's development into a world economic power, we must vigorously develop direct financing and reduce indirect financing. At present, the proportion of enterprises directly financing through capital and market is less than 20%, while the proportion of developed countries such as Japan, Germany and the United States is 50%, 57% and 70% respectively. Therefore, in order to increase the proportion of direct financing, we must develop the securities market. (2) The profits of enterprises, especially large blue-chip enterprises, can maintain good growth under the deepening of corporate governance, which is also the basis of the stock market.