Therefore, if we deviate from this goal?

[sharminsumu86]

Therefore, in the entire process of the industry, or in our industry that is neither a sunrise industry nor a sunset industry, we can become the last monopoly molecule. The control of risks every year may be the most important proposition. In this process, futures, as an auxiliary tool, play a very important role in making our industry bigger and stronger and surviving in the long run. Therefore, it is the core for industrial companies to use futures and options to realize the profit of exposure. The main function of hedging is actually to reduce the volatility of corporate profits. Therefore, once the entire industry falls, the status of futures is very high. Once there is a surge in spot prices, many state-owned enterprises will look at one side and see who will bear the responsibility if futures lose money.

It is actuallyReducing the volatility of profits cannot be viewed separately. , and want to make money steadily and continuously, we can only gamble in the end, which is putting the cart before the horse. For example, Baidu often talks about the definition of hedging, which is defined as two-way reverse hedging. In fact, I think this definition is not particularly accurate. Whether it is a manufacturing company or a trading company, if we hold a batch of spot goods and the price in the futures is lower, we will phone number library exchange them, which must also be a kind of hedging. Therefore, Western hedge funds certainly do not do both sides. Finally, in the case of reducing volatility, it must be a process of abandoning the profits brought by gambling. In the process of China's industry participating in futures, there is a transition process. From our current point of view, many of them are the result of unprofessionalism.

Of course, as the market matures and as the industry advances to the four quadrants, I think there will be gradual progress. However, it takes faith to abandon the profits brought by gambling. It takes determination and patience to make money steadily to accumulate profits little by little over a long period of time. It is impossible to make money steadily and quickly. It is also impossible for futures to increase profits every year, even from the perspective of financial statements. Therefore, this may be the starting point for many people to overuse derivatives, which leads to abnormal risks in the operation of many enterprises. From my point of view, it is a manifestation of the company's unsolidity. We say that participating in the industry is a process of gradually building a moat.