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基本for面分析是华尔街用来操纵市场的宣传工具基本for面分析是华尔街用来操纵市场的宣传工具 基本面分析是华尔街用来操纵市场的宣传工具 标签Tags: 加载中„ 发博文 博文 美国股市的投资技巧和理念 [订阅][手机订阅] 首 页 博 文 图 片 关 于我 个人资料 美股投资智囊进入我的空间 播客微博 博客等级:读取中„ 博 客积分:读取中„ 博客访问:读取中„ 关注人气:读取中„ 相关博文 浪迹夏天,快乐美好 小浪 5月18日盘中同步分析提示 徐小明 5月18日即时★分析 wu2198 5月18日操盘实战同步提示 股市风云...

基本for面分析是华尔街用来操纵市场的宣传工具
基本for面分析是华尔街用来操纵市场的宣传工具 基本面分析是华尔街用来操纵市场的宣传工具 标签Tags: 加载中„ 发博文 博文 美国股市的投资技巧和理念 [订阅][手机订阅] 首 页 博 文 图 片 关 于我 个人资料 美股投资智囊进入我的空间 播客微博 博客等级:读取中„ 博 客积分:读取中„ 博客访问:读取中„ 关注人气:读取中„ 相关博文 浪迹夏天,快乐美好 小浪 5月18日盘中同步分析提示 徐小明 5月18日即时★分析 wu2198 5月18日操盘实战同步提示 股市风云 5.18大盘直播:反弹减仓, 凯恩斯 投资者“无语” 管理层“失语 沙黾农 每天数以亿计的暴利在这产生 封起De日子 大盘直播:一切都回归快吧~( 空空道人 5月18日股市实时解盘 淘金客 信心有时候一分钱都不值~ 百年一人 5.18早盘:周二走势与操盘策略 占豪 更多>> 推荐博文 徐小明:周二操作策略 徐小明 数以亿计的暴利在这产生 封起 交割日行情提前上演 股市风云 虎年第二次翻番的起点 wu2198 再创新低等待两大市场信号 占豪 报复性反弹在周三爆发 趋势之友 百点长阴背后的主力动向 光哥 值得重点关注的板块机会 股市风云 谁是大跌幕后推手 光哥 本轮调整正经受最后洗礼 淘金客 查看更多>> 正文 字体大小:大 中 小 基本面分析是华尔街用来操纵市场的宣 传工具(2007-10-12 02:19:09)转载 标签:证券/理财美股美国股市股票投资北 美证券基本分析华尔街分析师 分类:美股投资理念 编者前言: 这篇文章是著名的NBA球队Dallas Mavericks的老板Mark Cuban为《The Number: How the Drive for Quarterly Earnings Corrupted Wall Street and Corporate America》这本书所撰写的序言。Mark Cuban一向以敢说敢言著称,他在文中揭 示了华尔街的游戏规则,一针见血地指出:所谓“基本面分析”实际是华尔街发 明的用来兜售股票的工具。究竟是什么决定了股票价格的上涨和下跌,什么本益 比、市盈率、现金流、增长率„„其实都是幌子,是用来刺激市场情绪、鼓动人 们买股票的借口。笔者在另一篇文章《谁是股市中的赢家》中讲过,股票的设计 机制是帮助上市公司从股民手中“圈钱”,华尔街的投资银行和证券经纪则是吹 鼓手和推销员。你不是想知道盈利预期吗,喜欢看到目标价格吗,这还不容易, 不就是一个数字吗,有很多种算法可以获得不同结果,保证有一款让你满意。当 然,我们并不是说市面上的所有分析数字都不可靠,只是这里面鱼目混杂,一般 人很难分辨哪个是真货、哪个是赝品。而且经常同一组数字在不同的分析师那里 会得到相反的解释,这使得基本面分析除了对华尔街有“宣传”价值之外,实在 是对一般股民没什么意义。我们奉劝大家还是少看财经新闻、少听电视名嘴,因 为你一不留神就会陷入人家的圈套,等你血脉高涨、进场买单时,真正的赢家已 经拿着你的钱一路小跑了。 编者:三维预测网站 - www.3DFN.com In 1990, I sold my company, MicroSolutions — which specialized in what at the time was the relatively new business of helping companies network their computer equipment — to CompuServe. After taxes, I walked away with about $2 million. That was going to be my nest egg, and my goal was to protect it at all costs, and grow it wisely. I set about interviewing stockbrokers and settled upon a broker from Goldman Sachs, Raleigh Ralls. Raleigh was in his late 20s, and relatively new to Goldman. But we hit it off very well and I trusted him. As we planned my financial future, I made it clear that I wanted my nest egg to be invested not like I was 30 years old, but as if I were 60 years old. I was a widows and orphans investor. Over the next year I stuck to my plan. I trusted Raleigh, and he put me in bonds, dividend-paying utilities and blue chips, just as I asked. During that year, Raleigh began asking me a lot of questions about technology. Because of my experience at MicroSolutions, I knew the products and companies that were hot. Synoptics, Wellfleet, NetWorth, Lotus, Novell and others. I knew which had products that worked, didn’t work,冒险小游戏哪有,, were selling or not. How these companies were marketed,山西省有哪些名胜古迹,, and whether or not they were or would be successful. I couldn’t believe that I would have an advantage in the market. After QQ自由幻all, I had read A Random Walk Down Wall Street in college. ,想怎样上淘宝与买家交易;I truly thought that the markets were efficient, that any available knowledge about a company was already reflected in its stock price. Yet I saw Raleigh using the information I gave him to make money for his clients. He finally broke me down to start using this information to my advantage to make some money in the market. Finally after more than a year, I relented. I was ready to trade. Notice I didn’t use the word invest. I wasn’t an investor. I just wanted to make money. The reason I was ready to try was that it was patently obvious that the market wasn’t efficient. Someone like me with industry knowledge had an advantage. My knowledge could be used profitably. As we got ready to start, I asked Raleigh if he had any words of wisdom that I should remember. His response was simple. “Get Long, Get Loud”. Get Long,问道80级手镯JN+2`值多少钱,, Get Loud. As we started buying and selling technology stocks, most of which were in the local area networking field that I had specialized in at MicroSolutions, Raleigh put me on the phone with analysts, money managers, individual investors, reporters, anyone with money or influence who wanted to talk technology and stocks. We talked about token ring topologies that didn’t work on 10BaseT. We talked about what companies were stuffing channels - selling more equipment to their distributors than the distributors really needed to meet the retail demand. We talked about who was winning, and who was losing. We talked about things that really amounted to the things you would hear if you attended any industry trade show panel. Yet after hanging up the phone with these people, I would watch stocks move up and down. Of course as the stocks moved, the number of people wanting to talk to me grew. I remember buying stock in a Canadian company called Gandalf Technologies in the early 90s. Gandalf made Ethernet bridges that allowed businesses and homes to connect to the Internet and each other via high-speed digital phone lines called ISDN. I had bought one for my house and liked the product, and I’d talked to other people who’d used it. They had decent results, nothing spectacular, but good enough. I had no idea Gandalf was even a public company until a friend of Raleigh’s asked me about it. What did I think about Gandalf Technologies? It was trading at the time at about a buck a share. It was a decent company, I said. It had competition, but the market was new and they had as much chance as anyone to succeed. Sure, I’ll buy some,我 家有个锅.如何对中星6B卫星, and I would be happy to answer any questions about the technology. The market size, the competition, the growth rates. Whatever I knew, I would tell. I bought the stock, I answered the questions, and I watched Gandalf climb from a dollar to about $20 a share over the next months. At a dollar, I could make an argument that Gandalf could be attractive. Its market was growing,请大家帮我找一个现在人气最旺,最好玩的真钱棋牌 游戏, and compared to the competition, it was reasonably valued on a price-sales or price-earnings basis. But at $20, the company’s market value was close to $1 billion - which in those days was real money. The situation was crazy. People were buying the stock because other people were buying the stock. To add to the volume, a mid-sized investment bank that specialized in technology companies came out with a buy rating on Gandalf. They reiterated all the marketing mishmash that was fun to talk about when the stock was a dollar. The ISDN market was exploding. The product was good. Gandalf was adding distributors. If they only maintained X percentage of the market, they would grow to some big number. Their competitors were trading at huge market caps, so this company looks cheap. Et cetera, et cetera. The bank made up forecasts formulating revenue numbers at monstrous growth rates that at some point in the future led to profits. Unfortunately, the bank couldn’t attract enough new money to the stock to sustain its price. It didn’t have enough brokers to shout out the marketing spiel to entice enough new buyers to pay the old buyers. The hope among the “sophisticated buyers” was that one bank picking up coverage would lead to others doing the same. It didn’t happen. No other big investment banks published reports on the stock. The volume turned down. So I did the only smart thing. I sold my stock, and I shorted it to boot. Then I told the same people who asked me why I was buying the stock that I had shorted the stock. Over the next months, the stock sank into oblivion. In 1997, Gandalf filed for bankruptcy. Its shares were canceled - wiped out - a few months later. I wish I could take credit for the stock going up, and going down. I can’t. If the company had performed well, who knows what the stock would have done? But the entire experience taught me quite a bit about how the market works. For years on end a company’s price can have less to do with a company’s real prospects than with the excitement it and its supporters are able to generate among investors. That lesson was reinforced as I saw the Gandalf experience repeated with many different stocks over the next 10 years. Brokers and bankers market and sell stocks. Unless demand can be manufactured, the stock will decline. In July of 1998, my partner Todd Wagner and I took our company, Broadcast.com, public with Morgan Stanley. Broadcast.com used audio and video streaming to enable companies to communicate live with customers,求个好玩的游戏,棋牌类的, employees, vendors, anyone with a PC. We founded Broadcast.com in 1995, and we were well on our way to being profitable. Still, we never thought we would go public so quickly. But this was the Internet Era, and the demand for Internet stocks was starting to explode. So publicly traded we would become and Morgan Stanley would shepherd us. Part of the process of taking a new company public is something called a road show. The road show is just that. A company getting ready to sell shares visits the big mutual funds, hedge funds, pension funds - anyone who can buy millions of dollars of stock in a single order. It’s a sales tour. 7 days, 63 presentations. We often discussed turning up the volume on the stock. It was the ultimate “Get Loud.” Call it Stockapalooza. Prior to the road show, we put together an amazing presentation. We hired consultants to help us. We practiced and practiced. We argued about what we should and shouldn’t say. We had Morgan Stanley and others ask us every possible question they could think of so we wouldn’t look stupid when we sat in front of these savvy investors. Savvy investors? I was shocked. Of the 63 companies and 400-plus participants we visited, I would be exaggerating if I said we got 10 good questions about our business and how it worked. The vast majority of people in the meetings had no clue who we were or what we did. They just knew that there were a lot of people talking about the company and they should be there. The lack of knowledge at the meetings got to be such a joke between Todd and I that we used to purposely mess up to see if anyone noticed. Or we would have pet lines that we would make up to crack each other up. Did we ruin our chance for the IPO? Was our product so complicated that no one got it and as a result no one bought the stock? Hell no. They might not have had a clue, but that didn’t stop them from buying the stock. We batted 1.000. Every single investor we talked to placed the maximum order allowable for the stock. On July 18, 1998, Broadcast.com went public as BCST, priced at 18 dollars a share. It closed at $62.75, a gain of almost 250 percent, which at the time was the largest one day rise of a new offering in the history of the stock market. The same mutual fund managers who were completely clueless about our company placed multimillion orders for our stock. Multimillion dollar orders using YOUR MONEY. If the value of a stock is what people will pay for it, then Broadcast.com was fairly valued. We were able to work with Morgan Stanley to create volume around the stock. Volume creates demand. Stocks don’t go up because companies do well or do poorly. Stocks go up and down depending on supply and demand. If a stock is marketed well enough to create more demand from buyers than there are sellers, the stock will go up. What about fundamentals? Fundamentals is a word invented by sellers to find buyers. Price-earnings ratios, price-sales, the present value of future cash flows, pick one. Fundamentals are merely metrics created to help stockbrokers sell stocks,安徽地区流行的80分在QQ游戏中叫什么,, and to give buyers reassurance when buying stocks. Even how profits are calculated is manipulated to give confidence to buyers. I get asked every day to invest in private companies. I always ask the same couple questions. How soon till I get my money back, and how much cash can I make from the investment? I never ask what the PE ratio will be, what the Price to Sales ratio will be. Most private investors are the same way. Heck, in Junior Achievement we were taught to return money to our investors. For some reason, as Alex points out in The Number, buyers of stocks have lost sight of the value of companies paying them cash for their investment. In today’s markets, cash isn’t earned by holding a company and collecting dividends. It’s earned by convincing someone to buy your stock from you. If you really think of it, when a stock doesn’t pay dividends, there really isn’t a whole lot of difference between a share of stock and a baseball card. If you put your Mickey Mantle rookie card on your desk, and a share of your favorite non-dividend paying stock next to it, and let it sit there for 20 years. After 20 years you would still just have two pieces of paper sitting on your desk. The difference in value would come from how well they were marketed. If there were millions of stockbrokers selling baseball cards, if there were financial television channels dedicated to covering the value of baseball cards with a ticker of baseball card prices streaming at the bottom, if the fund industry spent billions to tell you to buy and hold baseball cards, I am willing to bet we would talk about the fundamentals of baseball cards instead of stocks. I know that sounds crazy, but the stock market has gone from a place where investors actually own part of a company and have a say in their management, to a market designed to enrich insiders by allowing them to sell shares they buy cheaply through options. Companies continuously issue new shares to their managers without asking their existing shareholders. Those managers then leak that stock to the market a little at a time. It’s unlimited dilution of existing shareholders’ stakes, death by a thousand dilutive cuts. If that isn’t a scam, I don’t know what is. Individual shareholders have nothing but the chance to sell it to the next sucker. A mutual fund buys one million shares of a company with your and your coworkers’ money. You own 1 percent of the company. Six weeks later you own less, and all that money went to insiders, not to the company. And no one asked your permission, and you didn’t know you got diluted or by how much till 90 days after the fact if that soon. When Broadcast.com went public, we raised a lot of money that certainly helped us grow as a company. But once you get past the raising capital part of the market,诛仙怎么样赚钱最快啊?, the stock market becomes not only inefficient, but as close to a Ponzi scheme as you can get. As a public company, we got calls every day from people who owned Broadcast.com stock or had bought it for their funds. They didn’t call because they were confused during our road show, were too embarrassed to ask questions and wanted to get more information. They called because they wanted to know if the “fundamentals” - the marketing points - they had heard before were improving. And the most important fundamental was “The Number,” our quarterly earnings (or in our case, a loss). Once we went public, Morgan Stanley published a report on our company, as did several other firms. They all projected our quarterly sales and earnings. Would we beat The Number? Of course, by law, we were not allowed to say anything. That didn’t stop people from asking. They needed us to beat the forecast. They knew if we beat The Number the volume on the stock would go up. Brokers would tell their clients about it. The Wall Street Journal would write about it. CNBC would shout the good news to day traders and investment banks that watched their network all day long. All the volume would drive up the stock price. Unfortunately, patience is not a virtue on Wall Street. Every day, portfolios are valued by at closing price. If the value of your fund isn’t keeping up with the indexes or your competition, the new money coming in the market won’t come to you. It just wasn’t feasible for these investors to wait till the number was reported by companies each quarter. The volume had to be on the stocks in you fund. To keep the volume about a stock up, and the demand for the stock increasing, you needed to have good news to tell. Volume, The Number, whisper numbers, insiders granting themselves millions and millions of options - these are the games that Wall Street plays to keep on enriching themselves at the expense of the public. I know this. I have tried to tell people to be careful before they turned over their life savings and their financial future to someone whose first job is to keep their job, not make you money. Till I read The Number by Alex Berenson, I never had a book that explained how the market truly worked that I could tell my friends, family and acquaintances to read. I never had a book that would truly warn them that the market was not as fair and honest as mutual fund and brokerage commercials made them out to be. I may be a cynic when it comes to the stock market, but I am an informed cynic, and that has helped me make some very,植物大战僵尸2真的有了,是Pop Cap做的,还是,, very profitable decisions in the market. If you are considering investing in the market, any part of it, or if you are considering giving your hard earned money over to someone else to manage, please, please read The Number first. 分享到新浪微博 阅读? 评论 ?收藏? 转载?分享? 打印?举报 已投稿到: 排行榜 圈子 加载中,请稍候...... 前一篇:为什么要买股票,而不要买共同 基金后一篇:机械化的交易系统 —— 再谈纪律的重要性 评论重要提示:警惕 虚假中奖信息,点击查看详情 [发评论] 评论加载中,请稍候... 发评 论随时随地抢沙发~ 登录名: 密码: 找回密码 注册 记住登录状态建议在网吧/公用电脑上取消该 选项 昵 称: 验证码: 请点击后输入验证码 收听验证码 匿名评论 发评论 以上网友发言只代表其个人观点,不代表新浪网的观点或立场。 新浪BLOG意见反馈留言板 不良信息反馈 电话:95105670 提示音后按2键(按当地市话 标准 excel标准偏差excel标准偏差函数exl标准差函数国标检验抽样标准表免费下载红头文件格式标准下载 计费) 欢迎批评指正 新浪简介 | About Sina | 广告服务 | 联系我们 | 招聘信息 | 网站律师 | SINA English | 会员注册 | 产品答疑 Copyright ? 1996 - 2010 SINA Corporation, All Rights Reserved 新浪公司 版权所有 编者按:大地涵藏万物,孕育生命,被誉为人类的母亲。但是,近年来,伴随我国工业化的快速发展,大地不断遭到各种污染的伤害。仅仅因土壤污染防治不足、环境监管乏力,导致的食品药品安全事件就频频发生,2008年以来,全国已发生百余起重大污染事故。目前我国大地污染现状严峻,成因十分复杂,形成令人扼腕的“大地之殇”。《经济参考报》以此为主 快递公司问题件快递公司问题件货款处理关于圆的周长面积重点题型关于解方程组的题及答案关于南海问题 ,探寻大地污染背后所触及的我国农业、工业、城市化进程中关于生存与发展的一系列深层矛盾与两难抉择,并以“大地之殇”系列报道的形式在“深度”版推出,敬请关注。 大地之殇一?黑土地之悲 占全国粮食总产五分之一的东北黑土区是我国最重要的商品粮基地,但一个并不为多数人了解的严峻事实是,支撑粮食产量的黑土层却在过去半个多世纪里减少了50%,并在继续变薄,几百年才形成一厘米的黑土层正以每年近一厘米的速度消失。照此速度,部分黑土层或将在几十年后消失殆尽,东北这一中国最大粮仓的产能也将遭受无法挽回的损失。 ?记者 孙彬 管建涛 连振祥 吉哲鹏 娄辰 李松 南京 哈尔滨 兰州 昆明 济南 重庆报道 毒土:GDP至上的恶果 当前,我国土壤污染出现了有毒化工和重金属污染由工业向农业转移、由城区向农村转移、由地表向地下转移、由上游向下游转移、由水土污染向食品链转移的趋势,逐步积累的污染正在演变成污染事故的频繁爆发。 日益加剧的污染趋势可能还要持续30年 “目前,我国土壤污染呈日趋加剧的态势,防治形势十分严峻。”多年来,中国土壤学会副理事长、中国农业科学院研究员张维理教授一直关注我国土壤污染问题“我国土壤污染呈现一种十分复杂的特点,呈现新老污染物并存、无机有机污染混合的局面。” “现在我国土壤污染比各国都要严重,日益加剧的污染趋势可能还要持续30年。”中国土 壤学专家,南京农业大学教授潘根兴告诉《经济参考报》记者,这些污染包括随经济发展日益普遍的重金属污染、以点状为主的化工污染、塑料电子废弃物污染及农业污染等。 国土资源部统计表明,目前全国耕种土地面积的10%以上已受重金属污染。环保部南京环科所研究员单艳红说,华南部分城市约有一半的耕地遭受镉、砷、汞等有毒重金属和石油类有机物污染;长三角有的城市连片的农田受多种重金属污染,致使10%的土壤基本丧失生产力,成为“毒土”。 农药化肥污染同样严重。张维理说,我国农药使用量达130万吨,是世界平均水平的2.5倍。黑龙江农业监测站杜桂德站长说:“目前,农药和化肥的实际利用率不到30%,其余70%以上都污染环境了。”云南农业大学测算,每年大量使用的农药仅有0.1%左右可以作用于目标病虫,99.9%的农药则进入生态系统,造成大量土壤重金属、激素的有机污染。 “不仅污染加重,而且还在转移扩散。”潘根兴说,当前,我国土壤污染还出现了有毒化工和重金属污染由工业向农业转移、由城区向农村转移、由地表向地下转移、由上游向下游转移、由水土污染向食品链转移的趋势,逐步积累的污染正在演变成污染事故的频繁爆发。 2008年以来,全国已发生百余起重大污染事故,包括砷、镉、铅等重金属污染事故达30多起。其中浏阳镉污染事件不仅污染了厂区周边的农田和林地,还造成2人死亡,500余人镉超标。 频繁爆发的污染事故损失惨重,不仅增加了环境保护治理成本,也使社会稳定成本大增,而土壤污染修复所需的费用更是天价。常州农药厂土壤修复需2亿元,无锡胡埭电镀厂重金属铬污染修复费用890万元,苏州化工厂需数亿至数十亿元。 每年因土壤污染致粮食减产100亿公斤 污染的加剧导致土壤中的有益菌大量减少,土壤质量下降,自净能力减弱,影响农作物的产量与品质,危害人体健康,甚至出现环境报复风险。 潘根兴教授说“许多土壤污染地区已超过土壤的自净能力,没有外来的治理干预,千百年后土壤也无法自净,有的地块永远都无法自净,甚至出现环境报复。” 一是生态关系失衡,引起生态环境恶化。 中国科学院地理科学与资源研究所在长江三角洲等地调查的主要农产品,农药残留超标率高达16%以上,致使稻田生物多样性不断减少,系统稳定性不断降低。 “吃土吐土,净化土壤,作为土壤的„义工?,蚯蚓的存在是土壤重要的环境指标,对土壤具有重大意义。”令潘根兴教授忧心的是,现在,土壤中的蚯蚓、土鳖及各种有益菌等大量消失,农作物害虫的天敌青蛙的数量大减,自然生态面临危机。 云南农业大学副教授周江鸿等人在湖北、安徽等地的农田里发现,杀虫剂的使用对稻田节肢动物物种有损害作用,使得稻田天敌和害虫的平衡关系被打破。 二是土壤质量下降,使农作物减产降质。 重金属污染的增加,农药、化肥的大量使用,造成土壤有机质含量下降,土壤板结,导致农产品产量与品质下降。农业部全国农技推广中心高级农艺师陈志群认为,由于农药、化肥和工业导致的土壤污染,我国粮食每年因此减产100亿公斤。 环保部门估算,全国每年因重金属污染的粮食高达1200万吨,造成的直接经济损失超过200亿元。 三是重金属病开始出现,人们身体健康和农业可持续发展构成严重威胁。 汞、镉、铅、铬、砷五种重金属被称为重金属的“五毒”,对人有致命的危害。苏州环境科学研究所所长杨积德说“这些污染严重影响儿童发育,使人致病、致癌,危及人体生命健康。”上世纪70年代,日本曾出现“痛痛病”,是镉对人类生活环境的污染而引起的,影响面很广,受害者众多,所以被公认为是“公害病”。 潘根兴教授在全国各地市场上进行的调查也显示,约有10%的大米存在重金属镉超标。他说:“这些镉米对自产自食的农民来说无疑是致命的风险。”令人担忧的是,一些“痛痛病”初期症状已开始在我国南方部分地区出现“土壤污染导致的疾病将严重威胁人类健康和农业可持续发展,最终危害中华民族的子孙未来。” “宁愿毒死也要GDP”,产业模式亟待反思 土壤污染如隐形“杀手”,难以察觉却可能直接危害人体健康,特别是重金属在蔬菜、粮食中的累积,将处于食物链顶端的人类置于危险境地,甚至产生环境报复。“土壤污染的加剧原因有天灾,但更多是人祸,不科学的发展是环境恶化的主要原因。”南京农业大学教授潘根兴认为,土壤污染主要一来自矿山采冶、工业“三废”、污灌、固废堆放等,基本上都属于人为因素,表明近年来的产业发展模式亟待反思。 当前,令人忧心的是各地以追求G D P为核心的政绩观,不科学的产业发展模式和大量违法排污、超量排污。记者在调研中发现,一些地方发展心切,抱着“宁愿毒死也要G D P”的心态,有意无意地忽视环境保护,导致“引进企业就是引进污染,发展经济就是破坏环境”的恶果。 面对企业违法排污,一些地方政府成为企业的保护伞,通过变通政策打擦边球,甚至开绿灯,最终大事化小,小事化了。保护环境不被污染,是各级政府的法定职责。污染事件暴露了各地环保意识薄弱,政府监督缺失,是整个社会的耻辱。 “不断发生的污染事件告诉人们,缺乏对自然环境的敬畏与呵护,对公共利益和公众生命漠不关心,暴露出企业环境意识薄弱和地方政府责任缺失。”江苏省小康发展研究中心主任、江苏省委党校教授冯治指出,必须反思高歌猛进的产业发展模式,真正落实转变发展方式的政策,实现社会经济可持续发展。 黑土层流失 危及中国最大粮仓 黑土层变薄,是指黑土地的有效耕层变薄,直接导致支撑粮食产能的有机质含量降低,土壤肥力下降。然而,农业科技进步和高产作物增加作用下的粮食增产,在一定程度上“掩盖”了黑土层日渐变薄、耕地质量下降的严峻现实,导致农民和相关部门放松对耕地质量的保护。有关专家建议,应尽早完善耕地质量建设法规,扩大保护性耕作技术应用,用最小代价守住我国最大“粮仓”的产粮之本。 “一两黑土换二两油”的日子再不会有了 “以前挖两锹深还是黑土,现在一锹后就基本看不到了。”黑龙江省依兰县三道岗镇三道岗村农民程先粟从自己地里抓起一把黑土,“你瞅瞅,黑土都不太„黑?了,„一两黑土换二两油?的日子再也不会有了。” 作为世界三大黑土区之一,东北黑土区总面积约3523.3万公顷,分布在黑龙江、吉林、辽宁省和内蒙古自治区境内,粮食年产量约占全国五分之一,是我国重要的玉米、粳稻等商品粮供应地,粮食商品量、调出量均居全国首位。 由中国科学院、东北农业大学、吉林省农业科学院等院所专家联合调研形成的“东北黑土资源利用现状及发展战略研究”指出,东北黑土地初垦时黑土厚度一般在60至80厘米,开垦20年的黑土层则减至60至70厘米,开垦70至80年的黑土层只剩下20至30厘米。 “建国初期,黑龙江省黑土层大都一米多厚,现在找半米深的都难了,水土流失严重地区只剩下表皮薄薄一层,颜色也由黑变黄。”黑龙江省土肥管理站站长胡瑞轩有些感慨,形成1厘米的熟化黑土层大约需要50年,半米就得上千年,而现在东北黑土区平均每年流失0.3至1厘米的黑土层。有专家担心,“如果不及早治理,部分黑土层或将在几十年后消失殆尽。” “黑土层变薄,就是指黑土地的有效耕层变薄,直接导致支撑粮食产能的有机质含量降低,土壤肥力下降。”中国科学院东北地理与农业生态研究所研究员韩晓增断言,这势必影响我国粮食安全。 黑龙江省土肥管理站对肇东、讷河等县市区的耕地检测显示,从1982年第二次土壤普查到2007年的25年间,耕地土壤有机质已相对下降两成,严重地区下降六成。 地越来越没劲儿,想增产就得大量用化肥。最近几年,45岁的张艳峰感觉自家水稻田患上了“化肥依赖症”。老张是吉林省前郭县平凤乡黑岗子村农民,“10年前一亩水稻就用60多斤肥,如今已经翻番到120斤了,不施肥就得减产一半”。老张还有些担心,现在能靠化肥增产,这地要是越来越没劲儿,以后可能化肥也无能为力了。 据了解,吉林省位于东北黑土区中部“十一五”期间完成小流域综合治理840条,治理水土流失面积5600多平方公里,但黑土地水土流失还没有得到有效控制,全省仍有3.15万平方公里的水土流失面积亟须治理。 “几年后就不是自己的地了,谁还愿意投入保护,” 《经济参考报》记者在辽宁、吉林、黑龙江三省粮食主产区了解到,当地一些土地已连 续十几年种玉米、水稻等同一种作物,吸收养分单一,加上盲目施肥普遍,土壤养分失衡加剧。由于土地分散,不少农民常年使用小型农机具耕作,耕层越来越浅板结严重“晴天硬邦邦,雨天不渗汤”就是真实写照。 由于高产作物面积增加、农田水利设施不断完善,特别是化肥使用量大增等因素支撑,在黑土层日渐变薄的同时,东北黑土区粮食产量仍然稳中有升。但专家指出,恰恰是粮食增产在一定程度上“掩盖”了黑土层变薄、耕地质量下降的严峻现实,这反倒容易导致农民和有关部门放松对耕地质量的保护。东北部分黑土区在发展粮食生产过程中已透支耕地产出能力,黑土层变薄的风险性被粮食增产淡化,严重性正在人为和自然因素的“合谋”影响下加剧。 “最重要的是耕地质量保护法规不完善,作为耕地使用主体的农民缺乏保护耕地质量的主动性。”中国农科院土壤肥料研究所副所长、中国土壤学会副理事长张维理一语道破黑土质量下降的玄机,我国自20世纪80年代开始农村耕地转化为一家一户的经营方式,耕地管理单元变小,使用权变更频繁,农民保护耕地积极性不足“种几年后就不是自己的地了,谁还愿意投入保护,” “技术层面上也落后,没有有效的监测体系就无法及时发现耕地质量变化的最新情况,不能制定准确的修复 方案 气瓶 现场处置方案 .pdf气瓶 现场处置方案 .doc见习基地管理方案.doc关于群访事件的化解方案建筑工地扬尘治理专项方案下载 。”张维理认为,耕地质量测试指标和方法陈旧,比如我国对地力的评价通常采用土壤有机质含量,但实际测定的却是有机物质全量,而不是活性有机质,这样的测试结果根本无法准确反映耕地地力和土壤演变。 此外,地方在建设桥梁、道路时会占用优质的黑土农田,补回来的却多是相对贫瘠的土地,“这就不仅是黑土层流失问题,占一亩就少一亩。”即便新增土地具备改造成黑土地的条件,还需要大量人力、物力。黑龙江省国土资源厅土地开法整理处处长任百会说,耕地占补平衡中对新增土地的整理费用每亩在10万元左右。 生源地说明: 1、由应届本科生考入硕士研究生的,生源地区指考入本科前的生源省区; 2、由应届本科生考入硕士研究生又由硕士研究生考入博士研究生的,生源地区指考入本科前的生源省区; 3、由非应届本科生考入硕士研究生又由硕士研究生考入博士研究生的,生源地区指考入硕士前的生源省区; 4、由非应届本科生考入硕士研究生或博士研究生的,生源地区指入学前的户口及档案所在省区。 2、签三方就业协议程序 (1)收到有用人指标(能解决毕业生户口和档案关系)的用人单位接收函或录用 通知 关于发布提成方案的通知关于xx通知关于成立公司筹建组的通知关于红头文件的使用公开通知关于计发全勤奖的通知 或毕业生就业推荐表回执,本人经慎重考虑,同意到该单位工作,开始进入签约程序。 (2)凭用人单位的接收证明到研究生部领取《普通高等学校毕业生、毕业研究生就业协议书》(简称“三方协议书”,签署后培养单位、用人单位和毕业生三方各留存一份)。(注:“三方协议书”每人只有一份,请慎重考虑后签约)。 (3)毕业生个人签字。需要毕业生准确填写个人相关资料,并签字确认。 (4)用人单位签字盖章。用人单位填写单位相关资料并签字盖章,如果本单位无人事权,还需该单位的上级单位(具有人事接收权)签字盖章。 个别用人单位需要《毕业生就业推荐表》,《毕业生就业推荐表》可以到所网站“教育园地,研究生,下载表格”栏自行下载,填好后到研究生部盖章。 注意:用人单位签字盖章后,视为协议生效,一经确定不能随意更改,否则将视为违约。 (5)到研究生部签字、盖章。 (6)广东省毕业生就业指导中心确认。 (7)领取就业报到证。 根据广东省毕业生就业指导中心的安排,1月底左右集中办理春季毕业生的就业报到证,6月底前后集中办理夏季毕业生的就业报到证。如果在1月20日之前或6月20日之前完成《就业协议书》签约程序的毕业生,可在办理毕业离所手续时领到《就业报到证》。过此期限后(含寒暑假期间),研究生部将根据广东省毕业生就业指导中心的工作安排和规定时间内办理《就业报到证》,毕业生到研究生部领取就业报到证。 (8)办理户口和档案关系(必须办理离所手续)。 领取就业报到证后,凭就业报到证到所综合办公室户籍管理工作人员借户口卡,再到广州市天河区公安分局办理户口迁移手续;凭就业报到证到研究生部办理档案转移手续。 3、户档派回原籍程序 (1)毕业时未落实去向(如出国、考研、签三方协议),可向研究生部提交户口和档案派回原籍的申请书,申请书中应写明派遣单位(可派到生源省就业主管部门或市、县人事局)。由研究生部将按派回生源地信息上报广东省毕业生就业指导中心。 (2)由广东省毕业生就业指导中心办理派回生源地的就业报到证。毕业生 在研究生部领取报到证。 (3)凭就业报到证到所综合办公室户籍管理工作人员办理户口迁移手续, 凭就业报到证下联到研究生部办理档案转移手续。 《财会管理》综合练习一答案 单项选择题 1、D 2、C 3、B 4、A 5、C 6、A 7、B 8、C 9、C 10、B 11、C 多项选择题 1、ABCDEF 2、ABCD 3、BC 4、BCD 5、ABC 6、ABCD 7、BCD 8、ABC 9、ABCD 10、ABD 填空题 财务状况、经营情况 2、现金性筹资风险、收支性筹资风险 实物商品资金运动、金融商品运动 4、收益达到较高水平、风险维持较低水平 5、吸收直接投资、发行股票 6、盈余公积、未分配利润 7、资本充实、资本保值增值 8、资金运动、财务关系 、风险报酬、通货膨胀贴水 10、生产经营需要、资本结构调整需要 9 11、销售百分比法、线性回归分析法 12、A股、B股 H股 13、直接租赁、售后回租、杠杆租赁 14、个别资本成本、综合资本成本 15、成本过高、风险过大、弹性不足、约束过严 名词解释(略) 简答题(略) 计算题 1、综合资本成本率=15%×10%+8%×12%+47%×15%+30%×7% =1.5%+0.96%+7.05%+2.1%=11.61% 90902、财务杠杆系数= ,,1.5590,800,40%,10%90,32 0.4,1000万,5%,13.333、普通股的资本成本=% 5000万(1,4%) 150451000万(20%,5%),4000,(1,)4(应向外部融资= 3000150 ,150万,200万(1,30%) ,10万元 《财务管理》综合练习二 单项选择题 1.A 2.D 3.B 4.C 5.A 6.D 7.B 8.D 9.D 10.A 二、多项选择题 1.ABD 2.BD 3.ABCD 4.ACD 5.CD 6.BCD 7.ABCD 8.ACD 9.ACD 10.ABCD 三、填空题 1(信用期限、折扣期限、现金折扣 2.金额标准、品种数量标准 3(流动资产、流动负责 4.企业价最大化 5(投资利润、资本利润 必要投资报酬、实际报酬、边际报酬 6.资金成本 7.投放的对象性、时机的选择性、空间上的流动性、经营上的预付性、目标上的收益性、回收上的时限性、收益的不确定性、信用品质偿付能力、资本抵押品、经济状况不到预期收益 8.投资报酬、经营财务、市场规模、产业政策、筹资能力、企业素质 9.预期贴补率的不确定性、通货膨胀贴补的补偿性、通货膨胀巾补的货币性 10.信用标准、信用条件、收帐分针 11.独立投资、互斥投资、互补投资 四、名词解释(略) 五、简答题(略) 六、计算题 2,7200,800,2400 1(Q=log 2 TC=2,7200,800,2,4800元 7200 N= ,3次2400 2400log,8 W= ,9600元2 (80,50),1000,1万,3000,232天2(保本期= 14.4%50,1000(1,17%),,50360 17000,3500保利期= ,184天73.4 3(NPVA=13000,0.8,8000,2400元 2000,1.952,3000,904元 NPVB= 1200,0.64,700,68元 NPVC= 所以A方案最优 4( x,0.3,30%,0.5,15%,16.5%A ,0.3,40%,0.5,15%,0.2,15%,16.5% xB ,0.3,50%,0.5,15%,0.2,30%,16.5% xC 2110.25222[](30%16.5%)0.3(15%16.5%)0.2,,(1),,,x,,,,,,,, pAx221万 ,10.5% 风险最小 ,A (2) 12222 ,[(40%,16.5%),0.3,(15%,16.5%),0.5,(,15%,16.5%)],19.11%,B 1222,[(50%,16.5%),0.3,(15%,16.5%),0.5,(,30%,16.5%),0.2]) (3,C ,27.75% 风险最大 《财务管理》综合练习三 单项选择题 1.B 2.C 3.D 4.C 5.B 6.C 7.B 8.C 9.B 10.A 11.A 多项选择题 1.ABCD 2.CD 3.BD 4.ABCDE 5.ACD 6.AC 7.AC 8.ABD 9.BD 10.AB 填空题 归口分级管理、制度管理、报废与清理管理 息税前利润 折旧分期特征、折旧费用特征、折旧的收益特征、折旧方法的主观性、折旧的不等值特性、折旧的杠杆效益 证券投资风险 某一上市股票本日市价与上一年度平均每股盈余的比值。 市盈率=每股市价/每股盈余 单位风险的收益水平、使单位收益的风险水平 弥补以前年度亏损、提取盈余公积金、提取公益金、向投资者分配利润。 弥补亏损、增加企业的注册资本 股利宣告日、股权登记日、除息日 政府债券、金融债券、企业债券、企业股票 名词解释(略) 简答题(略) 计算题 500万(1,60%)1(DOL=,2 200万,100万 100万DFL=,1.22 100万,300万,60%,10% 2,1.22,2.44DTL = 30万,4万2、(1) ,13600件60,35 34万,6万 (2) ,16000件60,35 (x,33%x),(x,33%x),20%,2000,20%,800万 (x,33%x),80%,400,800 3、 x(1,33%),0.8,1200 x,2238.8万元 《财务管理》综合练习四 一 单项选择题 1(C. 2(A 3(B 4(C 5(C 6(B 7(C 8(B 9(D 10.A 11.B 二 多项选择题 1.ABCD 2.ABC 3.ACD 4.ABCD 5.AB 6.BC 7.ABD 8.AB 三 填空题 价值信息支持 、咨询服务 财务 报告 软件系统测试报告下载sgs报告如何下载关于路面塌陷情况报告535n,sgs报告怎么下载竣工报告下载 资料 营运能力、偿债能力 税前利润 、 5年 固定资产营运效率、 资产结构效度与偏离度 现金比率、 最坏 已获利息倍数、资产负债率、有形资产债务率、产权比率、有形净值债务率 资金增值能力、收益数额的大小 、水平的高低 社会贡献率 、社会积累率 10.使用费用、 筹资净额 四 名词解释(略) 五 简答题(略) 六 计算题 2000,10%(1,33%)1( 该债券的资金成本,,5.64%2500(1,5%) 360,25%2( 计划年度应收帐款周转率,,2(次)50(1,10%) 计划收款期=360/2=180天 2,40000,4003( 最佳现金持有量,,20000(元)8% 4((1)预计A产品销售利润=1000(160―90―16)―28000=26000(元)。 (2)预计A产品销售利润=1200(152―90―15.2)―28000=28160(元)。 5((1)因为:长期负债/所有者权益=0.5:1 ; 所以:长期负债=10万元。 (2)资产=权益=40万元。 (3)因为:总资产周转率=2.8次 ; 所以: 销售收入=112万元=赊销收入。 (4)因为:应收账款回收期=18天 ; 所以: 应收账款=5.6万元 (5)因为:销售收入税前利润率=10% ; 所以:销售成本=100.8万元。 (6)因为:存货周转率=9次 ; 所以: 存货=11.2万元。 (7)因为:速动比率=1:1 ; 所以: 现金=4.4万元。 (8)固定资产=资产―存货―应收账款―现金=18.8万元。
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