編故事, 傳謠言 – 金融市場的詭道 Coining stories and spreading rumors – the way of financial market 4月16日，中國一家上市公司貴州百靈發布了一則公告，稱：公司將與兩位自然人合作開發其祖傳的治療糖尿病的苗藥秘方。公司走訪了一些患者，證明此秘法確實對糖尿病有明顯的治療作用。公司將以此秘方為基礎進行研究，並開發出新的藥物。 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. 該消息一出，4月16日早，貴州百靈開盤5分鐘便封死漲停板，全天未打開。4月17日，貴州百靈開盤繼續上漲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. 這聽上去真是天方夜譚！治療糖尿病！“明顯的”治療作用！如果真的能治療糖尿病，這兩位先生早就拿了諾貝爾醫學獎了！ 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，這還不是中國股市的首例諾貝爾奇蹟。在過去的幾年裡，曾經有一家啤酒公司聲稱研究出了乙肝疫苗，用幾千萬元攻克了醫療界的世界難題。還有一家高新技術公司聲稱發明了能治療癌症的特效藥，而且進入了臨床實驗階段…… 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 ... 如果單看這些公告本身，你會以為現在的中國好像馬克·吐溫時代的美國，淨出荒唐事。但荒唐絕不是這些天方夜譚的標籤，因為這些事背後淨是聰明人。 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. 貴州百靈發布公告當天成交1.42億元，換手率為7.32%。恐怕這又是中國股市的機構參與者之間的換手遊戲。 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. 中國股市是全球股市裡的怪胎。不像紐約股市或者倫敦股市，中國股市的參與者既有機構投資者，也有普通散戶。窮人的錢總是更好掙，所以中國股市就是散戶的絞肉機，是機構獵殺個體投資者的屠宰場。上市公司和機構投資者是推高股價的利益共同體，上市公司負責編故事，機構投資者負責信誓旦旦地複述這些故事，為這些故事背書。 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國白酒企業，其產品多在150元-600元人民幣之間，其高端品牌能達到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. 如果說葡萄酒的秘密在於風土，那麼中國白酒的秘密就在於水。中國白酒大多是高粱所釀，一般兩三斤高粱能發酵出一斤白酒。促進高粱發酵的水的質量決定了白酒的質量。獨到的水源，一直是中國白酒神話的重要支撐。越是昂貴的白酒品牌，越會強調其水源的神秘性。 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. 酒鬼酒公司說它的水來自一汪泉水“三眼泉”：“三眼泉是酒鬼的精髓，得天獨厚的釀酒資源。相傳很久很久以前，經年不雨，氣候躁熱，大地龜裂，溪河乾涸。說也奇怪，振武營這地方，卻是山清水秀，鳥語花香，三股泉水從大山深處滲出來，泠泠淙淙。龍游來了，鳳飛來了，麒麟奔來了，犀牛、野鹿、金絲猴、扁擔花等等，都跑來了。龍常喝水的那口泉，人們叫它龍泉；鳳常喝水的那口泉，人們叫它鳳泉；麒麟和其他野獸常喝水的那口泉，人們便叫它獸泉。喝了龍泉的，勇敢強悍，虎虎有勁；喝了鳳泉的，俊美漂亮，能歌善舞；喝了獸泉的，聰明機靈，多智善謀。” 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." 酒鬼酒公司對外號稱，它們已經把三眼泉建設成了一個風景池，並圈入了廠區範圍，保護了起來。三眼泉水穿石而出，長年不竭，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，中國最著名的一家財經報紙的記者前往酒鬼酒酒廠所在地，也就是宣傳材料中所說的振武營——中國湖南的一個村莊，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". 但是這位記者看到的卻是，廠區中的風景池內，泉水已經乾涸，池內的龍、鳳、麒麟雕塑也缺頭斷尾，殘破不堪。 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. 酒廠內部人士向記者解釋說，酒鬼酒真正的水源，並非直接取自風景池，而是酒廠後方被圍牆圍起來的泉水。 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. 記者見到了那段圍牆，也從圍牆後方依稀聽到了淙淙的水聲。為了一探究竟，這位記者趁人不備，翻過了這段近3米高的圍牆，跳到了圍牆的那一邊。 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. 在圍牆的那一邊，記者看到了驚人的一幕。 Over the other side, it was an amazing scene. 這裡的確是泉洞和泉水，但是泉洞周圍堆滿垃圾。不但泉洞周圍，就連泉洞上方下來的小溪中，也堆滿垃圾。 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，有一條石階，順着這條石階，記者一路向上，找到了這條溪流的源頭。源頭處的確有一個泉眼，泉水的確從山中湧出，只不過泉眼出口處被人工砌成了池塘，溢出的池水逐級下流。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. 記者拍了幾張照片，正準備往回走。突然，水塘邊閃現了人影——兩個穿着民族着裝的婦女正在洗衣服。 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. 記者上前攀談得知，原來，這兩個水塘是周圍村民用來洗衣服和淘米的長期水源。這眼山泉水經過洗衣、淘米“層層洗禮”，涌過了沿路的垃圾堆後，流入酒鬼酒廠區。 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. 村民還熱心地告訴記者，附近還有一眼泉水。只不過，在這眼山泉旁，記者還是看到了不少生活垃圾，甚至還有空的洗髮精瓶子存在——看來村民不止在泉邊洗衣服？ 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? 就是這兩處水源，在上游遭遇各種污染後，流入了酒鬼酒的廠區。那麼，一瓶少則數百元、多則上千元的酒鬼酒，是用這樣的泉水釀成的嗎？ 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? 酒鬼酒的成名背後，是一整套的文化包裝手法：塑造水源地神話、尋找文化人士設計特色包裝瓶、引入各種概念提升酒的文化內涵、建設人文景點、給工業園區賦予人文概念……這種包裝手法無疑提升了酒鬼酒的品牌價值。 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. 中國股市的問題就在於，人們不在乎這些故事的真假。中國股市沒有做空機制，只有股票上漲，大家才有錢掙。所以，所有的參與者都盼着上市公司編故事推動股票價格上漲，大家沒有動力戳破皇帝的新衣，能講故事的公司就是好公司。那個站出來說出真相的孩子，反而會是大家眼中的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. 當然，中國股市已經為此付出了代價，在機構投資者和上市公司聯手欺騙散戶十多年之後，中國股市幾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. ============================ 鐵骨錚錚張曉麗 堂堂中華大女人 – 法醫王雪梅 – 所有男人的榜樣! 中醫復興—中華文明復興的一個環節 東方文明--陰陽平衡之謂道w 民族文化傳承之一 民族文化傳承之二 本草綱目-中醫精華--中華文明的一部分w Bo Xi Lai's human rights need liberation 薄熙來的人權需要”解放”, 共和國的人民需要”解放” 中國處於十字路口 China’s modernization hesitates at the crossroad 交流郵箱: waidarcn81@gmail.com; |
