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The Top Priority for the 2008 Securities Market: Chairman Shang, It's Time for a Promotion.

2008/1/1 17:38:18

This ID is vehemently opposed to the name "China's Grand Brothel," because it reeks of male chauvinism, but such a label has long been no novelty in private circles in Beijing. If all that hard-earned money could produce something real, that would at least count for something; but if it can't even produce something decent, then what the hell is it — no need to wonder anymore.

New year, new atmosphere — let's not mention those indecent things. Last year, several of this ID's articles all achieved their intended effects afterward. Whether they were related to this ID's articles is unimportant:
""Hong Kong Stock Through Train" — A Mission Too Heavy to Bear 2007-09-24 08:52:17", written when that brainless Through Train was all the rage. Now, that train never did get going — a great fortune for China's economy and markets;
"China's Economy Already Needs Rectification and Consolidation. 2007-10-15 08:32:52", subsequent economic policies have already been aligned with this;
"The Real Estate Bubble — The True Cancer of Economic Development 2007-10-09 20:57:56", I heard that a few days ago some person surnamed Wang made a pretentious appearance on CCTV and essentially responded to this passage from that article: "What's more destructive than a simple real estate bubble is having real estate stocks weigh too heavily in the stock market, creating real estate bubbles on both the virtual and real fronts simultaneously. Real estate companies, through so-called revaluations, pump up their stock prices, then use sky-high prices to raise capital from the market, then use that capital to grab more land, driving up land prices and housing prices, then revalue again, starting a new vicious cycle. Nothing creates a malignant economic bubble more effectively than this game — it is an absolutely lethal game. Therefore, when certain companies don the crown of 'world's largest real estate company' and trumpet their way toward a trillion-yuan market cap while massively issuing shares at high prices to raise capital, when certain stocks string together dozens of daily limit-up moves just because some real estate company injected assets — the crisis from this virtual-real convergence of real estate and the stock market has already reached a point that cannot be ignored. In the stock market, as long as a market manipulator's capital chain doesn't break, they can keep hoisting that barbell, can't they? Those real estate developers hoarding land on a massive scale are essentially no different from market manipulators — if they keep replenishing fresh blood from the capital markets and banking system, the real estate frenzy can never be calmed."

There are plenty more similar articles, so I won't list them all. So what does this ID want to say first this year? The top priority for the 2008 securities market: Chairman Shang, it's time for a promotion.

Using people is like using medicine — each person's ability and way of thinking is like a medicine's properties. These properties are not easily changed, and their effectiveness is related to timing. The right medicine at the right time may become the wrong medicine at a different time.

This ID has been applauding Chairman Shang since he first took office, and even applauded louder when others were skeptical of his share reform policy. Why? Because the medicine's properties matched the situation — the medicine was used at the right time.

Now, Chairman Shang has already rendered outstanding meritorious service to the securities market and should be promoted. Any good medicine, once its time has passed, has a greatly increased chance of turning into poison. Therefore, whether for China's capital markets or for Chairman Shang himself, a swift promotion at this point would be the best choice for all.

I'll spare the superfluous words. For the securities market in 2008, this ID only wants to see three things happen: first, the launch of the ChiNext board; second, a delay in stock index futures; third, a correction of the stamp duty.