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众所周知,股票的价格是由其内在价值决定的,但是当股票被资本市场炒作进而被错误地定价时,股票的价格就会偏离其内在价值,股票的回报也会偏离正常回报。涉矿概念股在二级市场上被热炒以及投资者的过度追捧使其产生涉矿必涨的异象,即凡是涉及投资矿业的上市公司其股价必然会上升,进而可以通过提前预测来获得超额回报。2012年我国A股市场中至少有60只新增“涉矿”概念股,从涉矿股的行业分
It is well-known that the price of a stock is determined by its intrinsic value. However, when the stock is mistakenly priced by the capital market, the price of the stock deviates from its intrinsic value and the return of the stock deviates from the normal return. Mining stocks involved in the secondary market was hyped and over-pursuit of investors so that it will produce the shadow is bound to rise, that is involved in mining companies involved in the mining of its share price will inevitably rise, which can be predicted in advance to get Excess returns. In 2012, China’s A-share market at least 60 new “involved mine ” concept stocks, from the mining industry shares