股市发展阶段与成长周期理论（Stock market development stage and growth cycle theory）.docVIP

股市发展阶段与成长周期理论（Stock market development stage and growth cycle theory） 1. stock market growth stage theory The development of the securities market is not exactly the same, but generally go through 5 stages. The dormancy stage: this stage is to understand the stock market are not many people, the stock of publicly listed companies is also less, but after a long period of time, investors found that not even the potential capital gains, dividends received more than other forms of investment income, so they will buy stocks, but still cautious start. Stage of operation: some securities brokers and traders found that because of the small amount of stocks and limited liquidity, only a small share of the stock can be bought to drive up prices. As long as the price continues to rise, it will attract other people to buy, when the operator can sell stocks to reap huge profits. As a result, they began to coax market prices, manipulate the market and reap huge profits. The investment stage: some people have a lot of capital through the sale of stock, whether it has achieved or is still on the books, the exemplary role these profits will attract more people to join the ranks of speculative, speculative stage began, stock prices much higher than the actual value of the trading volume rise directly to a high position. The new stock is often over buying attracted many companies, to issue stock, sell the original shareholders also sell shares to profit, thereby expanding the supply of listed shares. The collapse stage: to a certain time, the source of funds for speculation will be exhausted, the less subscription of new shares and more and more investors mind calm down, began to realize that the stock price is too high, and the original value from too much. As long as the outside a shares will be shaken, wind sways grass, then prices started to decline. Maturity: it will take months or even years for the public to regain confidence in the stock market after the stock market falls. Th