It is such arrogant and silly attitude like this that explains why so many Chinese stock investors have lost so much more money than they should recently. The thinking is that the fundamentals (基本因素)that determine the price of a stock basically or in the long run do not apply in the Chinese stock market because the market is so different and nobody outside China can understand it. When the stock markets everywhere else have fallen sharply because of worldwide worsening financial situations, many Chinese feel the Chinese market is different and will not be affected at all. So they just refuse to sell, no matter how much the prices have fallen, as they blindly believe the unrealistically high prices can and should be revisited sooner or later. They may well be right after a long long time, but in the meantime they just have to taste the misery of having stocks with prices well below their purchase prices for quite a long while.