If you walk into a university campus and happen to see a student with happiness written all over his face, you would think he had just succeeded in accomplishing an academic task. Likewise, when you come across another student with a knitted brow, you would probably think he was suffering from a disappointed love affair. You would probably be mistaken on both accounts.
In an age where practically everyone is involved in the stock market, students are no different.
Stock trading is all the rage on campuses now, which is repeatedly reported by the media. From the outset, school authorities have warned students not to indulge in this pursuit blindly. However, the temptation is just too great to be resisted.
A lot of students have become stock punters, in the belief they can make handsome profits through speculation.
As a matter of fact, for most students the stock market provides an exciting alternative to their monotonous life on campus. For some, it is good to spend their leisure hours making quick pocket money in a bull market, as well acquiring business knowledge. After all, stories of someone becoming a millionaire within a year, and with a relatively small initial capital, sounds fantastic.
But, as the stock market keeps soaring, the ambitions of these young people keep growing in tandem. A substantial return and psychological gratification have become the goals. Despite drastic market fluctuations, they are willing to take the risks, as the Chinese saying: "Little calves are simply unafraid of tigers."
The students have started to plough tens of thousands of yuan into the stock market. They have turned their campuses into "mini stock exchanges".
I have watched students intently gazing at graphs appearing on their computers, tracking the fall and rise of their stocks. This is normally accompanied by joy or sadness. Even on non-trading days, they are glued to their computers doing market research.
Class discussions revolve around stocks and shares, and break periods means a dash to the computer to check the latest market information. Consciously or unconsciously, they have relegated their studies in favor of the stock market.
As we all know, academic pursuit requires full concentration, there are no risks. Watching your money disappear in a risky stock market is not advisable.
Stock markets do not spell fortune for students. It is a waste of money, time and effort in a bear market. Many can testify to that.
There are so many other wonderful things in life to pursue. So it is high time stock trading on campuses was brought to a full stop.
The author, Luo Nanping is a senior officer of the Chinese People's Liberation Army.
(China Daily, March 20, 2008)