The stocks have risen. People talk about the risks and talk about the risks. At the most recent stage, the regulators are almost always talking about the risks of the stocks. They are not allowed to teach new investors to enter the mindset of “better buy, not to buy”. These are of course meaningful. An investor who is always talking about investment and financing risks and is highly vigilant about risks is a rational investment and financial management. So, what is the biggest risk facing investors today? Some people say that the stock price is too high. This seems to make sense. After all, from the common sense, the higher the stock price, the greater the investment risk. But the problem is, when an investor buys a stock, wouldn’t he seriously think about whether the price is suitable? If you invest with hard-earned money, some people may be more impulsive, but they should be trusted. Most people are still very cautious. The reason why he buys a stock that is very expensive, or chases a stock that has risen a lot in a row, always makes sense. To put it another way, as an investor, he will fully recognize the operational risks of the relevant stocks when investing, and also accept the result of “buyers pride”. The high stock price is of course a risk, but this should not be the biggest risk faced by current investors. If it is, then investors have already begun to evade it, and the stocks are unlikely to rise so high. It has also been said that the biggest risk at present is that the capital leverage is too long, and the proportion of financing operations is too large. Once the stocks fall, it will be trampled on, which will cause great risks. Indeed, since the end, we have seen what the bulls on the lever are like, but everyone has not seen what the bears under the leverage are. The risks in this area cannot be prevented. But the question is, can the usual leverage be very long? At least weighed by international standards, it can't be long. At present, the balance of “double financing” is 1.8 trillion yuan, which is almost equivalent to the trading volume of Shanghai and Shenzhen stocks. In the past, the amount of funds frozen in each new share is usually more than 2.5 trillion yuan. Therefore, in terms of the scope of financing funds, investment and financial investment is still in a state of control. Besides, the usual regulatory authorities are also pleading for a reduction in the leverage ratio of the “double-funded” business, and the umbrella trust and private fund-raising are also strengthening supervision. Therefore, the risk of leverage is basically controllable and does not go beyond the reach of the venue. Moreover, the relevant data also suggests that the future expansion of the "double-melting" business may be relatively limited, limited by the brokerage capital and risk control indicators, it will be difficult to launch in a period of time. Since the biggest risk in the past is not that the stock price is too high or too long, what is it? In the opinion of the author, there are too many rumors. As the Shanghai and Shenzhen stocks still have the characteristics of policies, the rumors will inevitably have a serious impact on the operation of investors. In particular, some maliciously rumors, such as the Securities and Futures Commission to suppress stocks, will improve stamp duty, levy capital gains tax, etc., is out of the hands of those who fear the world is not chaotic, assuming that it can not be cleared in time, it is very easy to attract shares A large shock, causing risks. In addition, there are some false rumors, such as a certain company will be merged with a certain company, small as a certain company will reorganize assets, etc., although the ranking of the p2p investment financial platform is still not certain that it is unfounded, but After all, it can't be proved. Their widespread spread on the field not only undermines the "three public" standard of information disclosure, but also confuses the field. The rumors that the "two barrels of oil" will merge at the beginning of this week are always A farce, and the losses caused by the high-selling investors, can not help but be the result of this risk release. Objectively speaking, this kind of risk can be avoided, but it is often presented in an unexpected way. It is also extremely magnified. Isn't it the biggest risk that investors should be wary of? Every investment planner is in the process of suspending stocks. In different degrees, we have received risk education. In terms of the performance of recent stocks, people’s awareness of investment and financial risks is still very strong. The real blind people are still a few people. The regulatory authorities have checked and informed everyone more than once. The "Shuangrong" business is basically standardized. However, people have to point out that there are a lot of rumors in the regular field, and all kinds of rumors of not holding up are all over the sky. The investment and wealth management pictures have a great interference with the trend of the field and the behavior of investors, so the risks generated cannot be prevented. . As a regulatory authority, it is also a duty to slap the rumors and maintain a good stock action environment. As for investors, they should polish their eyes, distinguish between right and wrong, rational discrimination, not convinced of rumors, and even less rumors.