当今金融证券研究领域中占据着统治地位的传统金融理论认为:证券投资者应当是理性的,按照最大效用原则进行个体的投资行为。然而,国内外大量的研究发现,人的情绪、性格及心理感觉等主观因素在金融投资中起着不可忽视的作用。投资者的心理弱点会对其投资行为产生明显的危害,同时,某些别有用心的庄家、机构、证券和中介机构也会利用投资者的认知偏差牟取暴利 The traditional financial theory dominated in the field of financial securities research holds that: securities investors should be rational and carry out individual investment according to the principle of maximum utility. However, a large number of studies at home and abroad have found that subjective factors such as emotion, personality and psychological feeling play an important role in financial investment. Investors ’psychological weaknesses will have obvious harm to their investment behavior. At the same time, some arrogant makers, institutions, securities and intermediaries will make use of investors’ cognitive bias to make huge profits