编故事, 传谣言 – 金融市场的诡道 Coining stories and spreading rumors – the way of financial market 4月16日，中国一家上市公司贵州百灵发布了一则公告，称：公司将与两位自然人合作开发其祖传的治疗糖尿病的苗药秘方。公司走访了一些患者，证明此秘法确实对糖尿病有明显的治疗作用。公司将以此秘方为基础进行研究，并开发出新的药物。 On April 16, Guizhou Bailing Pharmaceutical Co., Ltd, a listed company released an announcement, saying that the company would cooperate with two individuals to develop a special Chinese medicine used by Miao Ethnic Minority, which was a secret recipe handed down from their ancestors, able to treat diabetes efficiently. The company had visited some patients and it indeed proved that this secret recipe had significant therapeutic effect on diabetes. The company would use this recipe as the basis for research, to develop new drugs. 该消息一出，4月16日早，贵州百灵开盘5分钟便封死涨停板，全天未打开。4月17日，贵州百灵开盘继续上涨2.05%。 Upon this news being released, on the morning of April 16, the stock price of Guizhou Bailing gained a rise of 10% of its daily limit just within 5 minutes after opening of market, and the situation maintained with no one willing to sell for a whole day. On April 17, Guizhou Bailing continued to rise 2.05% after market opened. 这听上去真是天方夜谭！治疗糖尿病！“明显的”治疗作用！如果真的能治疗糖尿病，这两位先生早就拿了诺贝尔医学奖了！ It really sounds like a fantasy of the Arabian Nights! Remarkable therapeutic effect! If it could indeed treat diabetes, the two people should have been awarded Nobel Prize of medicine! 噢，这还不是中国股市的首例诺贝尔奇迹。在过去的几年里，曾经有一家啤酒公司声称研究出了乙肝疫苗，用几千万元攻克了医疗界的世界难题。还有一家高新技术公司声称发明了能治疗癌症的特效药，而且进入了临床实验阶段…… Oh, this was still not the first ridiculous case of Nobel miracle on Chinese stock market. In the past few years, there was once a beer company who claimed to have developed a hepatitis B vaccine, with investment of tens of millions of RMB to overcome the worldwide problems of the medical profession. There was also a high-tech company who claimed to have invented an efficient medicine for the treatment of cancer, and it even entered the stage of clinical trials ... 如果单看这些公告本身，你会以为现在的中国好像马克·吐温时代的美国，净出荒唐事。但荒唐绝不是这些天方夜谭的标签，因为这些事背后净是聪明人。 If one only looked at these announcements, one might think that contemporary China seemed to be in similar time as Mark Twain era of the United States, with absurd things to occur one after another. But absurdity is not the patent label of the Arabian Nights, because behind these incidents there was the maneuver by clever people. 贵州百灵发布公告当天成交1.42亿元，换手率为7.32%。恐怕这又是中国股市的机构参与者之间的换手游戏。 The transaction volume on the day that Guizhou Bailing released the announcement was 142 million RMB, with exchange ratio at 7.32%. It might be an exchange game by speculative institutions on Chinese stock market. 中国股市是全球股市里的怪胎。不像纽约股市或者伦敦股市，中国股市的参与者既有机构投资者，也有普通散户。穷人的钱总是更好挣，所以中国股市就是散户的绞肉机，是机构猎杀个体投资者的屠宰场。上市公司和机构投资者是推高股价的利益共同体，上市公司负责编故事，机构投资者负责信誓旦旦地复述这些故事，为这些故事背书。 Chinese stock market is a freak of the global stock market. Unlike New York Stock Exchange or London stock market, on China's stock market there are both institutional investors and individual investors. It's always easier to profiteer at the loss of people with lesser financial circumstances, so Chinese market is the mincing machine of private investors, or the slaughterhouse where institutions slaughter individuals. Listed companies and institutional investors belong to the same group of interests, with the listed companies in charge of coining good stories, and institutional investors in charge of repeating those stories and endorsing them. 比如酒鬼酒的故事。 Take the story of Jiugui liquor for example. 酒鬼酒是一家著名的中国白酒企业，其产品多在150元-600元人民币之间，其高端品牌能达到1900元左右。 Jiugui liquor is a famous brand of alcoholic liquor in China, with most of its products at prices between 150 – 600 RMB, some of its high-end brands possible to reach 1,900 RMB. 如果说葡萄酒的秘密在于风土，那么中国白酒的秘密就在于水。中国白酒大多是高粱所酿，一般两三斤高粱能发酵出一斤白酒。促进高粱发酵的水的质量决定了白酒的质量。独到的水源，一直是中国白酒神话的重要支撑。越是昂贵的白酒品牌，越会强调其水源的神秘性。 If the secret of grape wines lies in the natural conditions of land, the secret of Chinese liquor lies in the special features of water. Most of Chinese liquors are made of sorghum, with 500g of liquor produced by about 1 to 1.5 kg of sorghum. The quality of liquor depends on the quality of water since water facilitates the fermentation of sorghum. Peculiar source of water has always been an important support of the mythic legend of Chinese liquor. The more luxury the liquor brand is, the more emphasis will be attached to the mystery of the source of water. 酒鬼酒公司说它的水来自一汪泉水“三眼泉”：“三眼泉是酒鬼的精髓，得天独厚的酿酒资源。相传很久很久以前，经年不雨，气候躁热，大地龟裂，溪河干涸。说也奇怪，振武营这地方，却是山清水秀，鸟语花香，三股泉水从大山深处渗出来，泠泠淙淙。龙游来了，凤飞来了，麒麟奔来了，犀牛、野鹿、金丝猴、扁担花等等，都跑来了。龙常喝水的那口泉，人们叫它龙泉；凤常喝水的那口泉，人们叫它凤泉；麒麟和其他野兽常喝水的那口泉，人们便叫它兽泉。喝了龙泉的，勇敢强悍，虎虎有劲；喝了凤泉的，俊美漂亮，能歌善舞；喝了兽泉的，聪明机灵，多智善谋。” Jiugui liquor Co. said that its water was from a special spring with 3 holes of fountainhead. "The 3-fountain spring is the fine essence of Jiugui liquor, a special resource of liquor favored by Heaven. According to legend, long long time ago, there was no raining and it lased for years, with climate being very hot and dry, big cracks in land, and rivers and streams drying up. But it's miraculous that at the place of Zhenwuying, there were beautiful mountains and clear waters, happy birds singing and fragrant flowers in blossom, since there were 3 currents of spring welling out from the depth of the earth, with clear and cool water. It attracted many animals to come, with dragons and phoenixes coming from afar, besides unicorn, rhinoceros, deer, golden monkey, in addition to full blossoms of pole flowers. The hole of spring water drunk by dragon is called dragon fountain; the spring for phoenix is called phoenix fountain; the other spring for unicorn and other beasts is called beast fountain. Dragon fountain water can make people as brave and tough as dragon and tiger; phoenix fountain water can make people handsome or beautiful, and good at singing and dancing just like phoenix; while beast fountain water can make people smart and clever, with lots of creative power." 酒鬼酒公司对外号称，它们已经把三眼泉建设成了一个风景池，并圈入了厂区范围，保护了起来。三眼泉水穿石而出，长年不竭，甘冽清淳。 Jiugui liquor Co. claimed that it had built a scenic pool based on the 3-fountian spring, and enclosed the land into the scope of its plant in order for better protection. The 3-fountain spring gushed out among rocks, kept running fresh and pure, inexhaustible for years. 本月初，中国最著名的一家财经报纸的记者前往酒鬼酒酒厂所在地，也就是宣传材料中所说的振武营——中国湖南的一个村庄，希望一探“三眼泉”的真面目。 Earlier this month, a journalist from one of most famous financial newspapers in China went to the place where the distillery plant of Jiugui liquor is located, that is, the place of Zhenwuying as mentioned in the advertisement – which is a village in Hunan, China, with the hope to explore the true features of the "3-fountain spring". 但是这位记者看到的却是，厂区中的风景池内，泉水已经干涸，池内的龙、凤、麒麟雕塑也缺头断尾，残破不堪。 However, what the journalist saw was that the spring water in the scenic pool already dried up, and the sculptures of dragon, phoenix and unicorn were worn out, broken, and dilapidated. 酒厂内部人士向记者解释说，酒鬼酒真正的水源，并非直接取自风景池，而是酒厂后方被围墙围起来的泉水。 The insiders of the winery told the journalist that the real water source of Jiugui liquor was not directly from the scenic pool, but the spring located at the back of the winery which was enclosed by walls. 记者见到了那段围墙，也从围墙后方依稀听到了淙淙的水声。为了一探究竟，这位记者趁人不备，翻过了这段近3米高的围墙，跳到了围墙的那一边。 The journalist saw the enclosure of walls, also could hear the sound of running water. In order to find out the truth, the journalist took the chance when they were off guard, climbed over the walls which were nearly 3-meter high, and jumped to the side of the walls. 在围墙的那一边，记者看到了惊人的一幕。 Over the other side, it was an amazing scene. 这里的确是泉洞和泉水，但是泉洞周围堆满垃圾。不但泉洞周围，就连泉洞上方下来的小溪中，也堆满垃圾。 There were indeed holes of fountainhead with spring water, but there was garbage piled up around the holes of fountainhead, furthermore, there was garbage even in the brook running below the fountainhead. 在泉洞上方，有一条石阶，顺着这条石阶，记者一路向上，找到了这条溪流的源头。源头处的确有一个泉眼，泉水的确从山中涌出，只不过泉眼出口处被人工砌成了池塘，溢出的池水逐级下流。在池塘附近，仍有不少垃圾。 Above the fountainhead, there were stone steps. Going up along the road of stone steps, the journalist found the source of the stream. At the source of the stream, there was indeed a spring, with spring water gushing from the mountain. However, at the outlet of the source spring, there were artificial ponds, with overflow of water running down continually. There was still lots of garbage near the ponds. 记者拍了几张照片，正准备往回走。突然，水塘边闪现了人影——两个穿着民族着装的妇女正在洗衣服。 The journalist took a few photos, and was going to return. Suddenly other people appeared by the pond – two women in minority dresses came here to wash clothes. 记者上前攀谈得知，原来，这两个水塘是周围村民用来洗衣服和淘米的长期水源。这眼山泉水经过洗衣、淘米“层层洗礼”，涌过了沿路的垃圾堆后，流入酒鬼酒厂区。 The journalist went to talk with them and got to know that the two ponds were long-term source of water for villagers living around to wash clothes and rice. This current of spring water, being first used to wash clothes and rice, then running through the piles of garbage along the road, finally flowed into the plant area of Jiugui Liquor Company. 村民还热心地告诉记者，附近还有一眼泉水。只不过，在这眼山泉旁，记者还是看到了不少生活垃圾，甚至还有空的洗发精瓶子存在——看来村民不止在泉边洗衣服？ Enthusiastic villagers also told the journalist that there was another spring nearby. But lots of garbage still could be seen nearby this mountain spring; there was even empty shampoo bottle – so it seemed that villagers not just washed clothes by the spring? 就是这两处水源，在上游遭遇各种污染后，流入了酒鬼酒的厂区。那么，一瓶少则数百元、多则上千元的酒鬼酒，是用这样的泉水酿成的吗？ It's these two water sources, being polluted at its upstream, then flowing into the winery of Jiugui Liquor Company. Then, is Jiugui liquor, which cost hundreds of RMB or even up to more than one thousand RMB per bottle, made of such spring water? 酒鬼酒的成名背后，是一整套的文化包装手法：塑造水源地神话、寻找文化人士设计特色包装瓶、引入各种概念提升酒的文化内涵、建设人文景点、给工业园区赋予人文概念……这种包装手法无疑提升了酒鬼酒的品牌价值。 Behind the brand image of Jiugui liquor, there were a set of tricks to decorate it with cultural ideas, such as coinage of the mythic legend about the water source, special packaging of bottle designed by artist, introduction of various concepts to enhance the cultural connotation of the liquor, construction of cultural scenic spots, and endowment of humanistic concepts to the industrial park ...... these image-decoration techniques undoubtedly enhanced the brand value of Jiugui liquor. 中国股市的问题就在于，人们不在乎这些故事的真假。中国股市没有做空机制，只有股票上涨，大家才有钱挣。所以，所有的参与者都盼着上市公司编故事推动股票价格上涨，大家没有动力戳破皇帝的新衣，能讲故事的公司就是好公司。那个站出来说出真相的孩子，反而会是大家眼中的trouble-maker。 The problem of China's stock market is that people did not care about whether these stories are true or false. There is no mechanism of going short by bearish position in China's stock market; people can get profit only from price rise of stocks. Therefore, all participants are looking forward to stories made by the listed companies in order to boost stock prices. People didn't have the incentive to expose the truth about the emperor's new clothes, since good companies will be good story makers. The child who stepped forward to expose the truth might be deemed to be a trouble-maker instead. 当然，中国股市已经为此付出了代价，在机构投资者和上市公司联手欺骗散户十多年之后，中国股市几乎成了全球最低迷的股市。 Of course, China's stock market has to pay the price. After institutional investors colluded with listed companies to exploit individual's wealth for more than a decade, China's stock market has almost become the most depressed one in the world. ============================ 铁骨铮铮张晓丽 堂堂中华大女人 – 法医王雪梅 – 所有男人的榜样! 中医复兴—中华文明复兴的一个环节 东方文明--阴阳平衡之谓道w 民族文化传承之一 民族文化传承之二 本草纲目-中医精华--中华文明的一部分w Bo Xi Lai's human rights need liberation 薄熙来的人权需要”解放”, 共和国的人民需要”解放” 中国处于十字路口 China’s modernization hesitates at the crossroad 交流邮箱: waidarcn81@gmail.com; |
