垃圾股（Penny stocks）一个比较明显的特征是市值很低，通常只有几百万、几千万美元而已，因为假如市值太高，操纵起股价来就那么容易了。
“Microcap stock fraud： Penny stock regulation
In the United States, regulators have defined a penny stock as a security that must meet a number of specific standards. The criteria include price, market capitalization, and minimum shareholder equity. Securities traded on a national stock exchange, regardless of price, are exempt from regulatory designation as a penny stock,[18] since it is thought that exchange traded securities are less vulnerable to manipulation.[19] Therefore, CitiGroup (NYSE:C) and other NYSE listed securities which traded below $1.00 during the market downturn of 2008-2009, while properly regarded as "low priced" securities, were not technically "penny stocks". Although penny stock trading in the United States is now primarily controlled through rules and regulations enforced by the U.S. Securities and Exchange Commission and Financial Industry Regulatory Authority (FINRA), the genesis of this control is found in State securities law.”
所以单纯把价格低于几美元的蓝筹股与真正的垃圾股相提并论是概念不清楚或者误导。
在上面的连接中，还有关于不法券商如何操纵垃圾股的各种手法。
不仅无知的小散们经常被垃圾股所骗，掌管大钱的对冲基金经理也被动或主动地参与其中，通过操纵股价提高业绩，但风光一时、最后毁掉自己的名声、事业，甚至被法办。比如这两天刚刚被抓到的 Florian Homm,想深入了解的人可以参考下面的链接。
A Money Manager's Ultimate Fight Game
SEC Charges Securities Professionals and Traders in International Hedge Fund Portfolio Pumping Scheme
After 5 Years of Hiding, a Banker Reappears
Fugitive Hedge Fund Manager Homm Arrested at Gallery
这是其中提到的、 Florian Homm 参与的垃圾股之一 ProElite：
他涉及的其它垃圾股不是股价为零，就是代码现在已经找不到了。Florian Homm 的基金管理公司股票曾经上市交易、风光一时，可当他放弃一切、携带现款逃跑后，股价下跌93%。
不仅如此，在美国还有像类似黑手党之类的犯罪家族利用垃圾股诈骗投资者钱财，下面是美国证监会SEC给美国国会提供的关于有组织犯罪集团参与华尔街垃圾股的报告： Testimony Concerning The Involvement of Organized Crime on Wall Street
在加拿大，与矿业有关的垃圾股也很多，诈骗事件时有耳闻。
所以先分清楚什么是垃圾股（Penny stocks）、什么是低价股，在股市上炒垃圾股还不如去赌场，因为相比之下，在赌场上赔钱的几率也比玩垃圾股要小。
=========
我的新网址： http://murmurhudson.com
欢迎访问我的博客：
依据事实数字，把握市场脉搏，运筹金融世界。
http://etfinvestmentsystem.blogspot.com/
http://murmuronhudson.blogspot.com/
http://blog.sina.com.cn/murmuronhudson/
No comments:
Post a Comment