Stock speculation is to use the theme of stock speculation to stimulate market sentiment. Some themes have substance, while others are purely groundless, or even deliberately fabricated. The theme of the stock market is changeable. Generally speaking, stocks that have improved or are expected to improve their business performance, are supported by national industrial policies, joint ventures or equity transfer, capital increase, rights issue or dividends have a background of speculation.
After understanding the above concepts, we can see that a stock with a heavy fund position is very different from a stock in the traditional sense. Although a fund is rich in funds, it will only invest about 10% of its investment funds in a stock at most, which is far from the number of stocks that the dealer wants to hold.
Therefore, under normal circumstances, the possibility of a fund controlling a stock is very small, because the fund simply has no financial strength to control it. Imagine that general foundations choose some high-quality growth stocks for heavy positions, such as China Ping An, Kweichow Moutai and Wuliangye. Moreover, the stock market value is huge, and funds can't control the market at all. For some small and medium-sized stocks, the purpose of fund heavy positions is mostly to run for the long-term yield in the future. Since you are optimistic about the future trend, you can hold it for a long time and wait for profit. On the one hand, we have to pay the cost of controlling the market, but also bear the penalty risk of the CSRC. For fund companies, trying to control the market is extremely risky, and the income does not match the pay.
Judging from the investigation of insider trading by the CSRC, the CSRC has always maintained insider trading behavior? Zero tolerance? High-pressure situation, right now? Big data? Times, don't underestimate this big data. As long as the CSRC wants to check you, it can check your transaction details from all aspects. With the improvement of technical supervision means, these years are similar. Rat barn? The probability of cases involving the transfer of interests of insiders is getting higher and higher. Fund companies should control stocks. On the one hand, we have to bear the risk of being reported by insiders. On the other hand, all systems of the exchange have monitoring software to automatically detect abnormal stock trading accounts. Once an abnormality is found, the CSRC will resolutely investigate and deal with it in accordance with relevant laws and regulations, earnestly safeguard the order of the securities market and protect the legitimate rights and interests of investors.
According to the crime of insider trading and disclosure of insider information stipulated in Article 180 of the Criminal Law, insiders of securities trading or people who illegally obtain insider information of securities trading buy and sell securities or disclose such information before the issuance and trading of securities or other information that has a significant impact on the price of securities are made public. If the circumstances are serious, he shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall also or solely be fined not less than one time but not more than five times the illegal income; If the circumstances are especially serious, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than ten years, and shall be fined not less than one time but not more than five times the illegal income. Where a unit commits the crime mentioned in the preceding paragraph, it shall be fined, and the persons who are directly in charge and other persons who are directly responsible shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention. In addition, there are a series of laws and regulations such as Securities Law and Fund Law to severely punish insider trading. It can be said that the risk of capital control and speculation is much higher than that of bookmakers. Once investigated, the career of fund managers will be ruined. Therefore, considering the difficulty coefficient of fund control and speculation, the strictness of supervision and the correlation between risk and return, it is unwise for the fund to control and speculate its heavy stocks with low return, and it is unnecessary for the fund manager to bear such risks.
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