On September 14, 'Financial New Momentum' interviewed Yao Yang, Dean of the Advanced Institute of Finance at Shanghai University of Finance and Economics and Visiting Professor at Peking University. Regarding whether A-shares can truly become an important channel for residents' wealth growth, Yao Yang believes that both A-shares and U.S. stocks have institutional investors with significant advantages in professional capability, information access, and research resources. Ordinary investors find it difficult to compete with institutions in the long term when entering the market directly. 'This is likely the case worldwide; retail investors find it hard to compete with institutions.' Yao Yang suggests that if ordinary investors wish to invest through the capital market, they should consider products managed by professional institutions rather than blindly trading on their own, which could lead them to become 'chives.'
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Economist Yao Yang: Retail Investors Can Never Compete with Institutions, Don't Be 'Chives'
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