Chapter 192: Position Exposure
After lunch, Gu Junhao brought Zhang Yiru, who was abusing her power for personal gain, to Junshi Capital. If Zhang Yiru was there, Gu Junhao would naturally not go to the trading room.
After a short nap, it was time for the afternoon workday. Gu Junhao called Guo Yuanwei to the office, and together with Li Xinyu, the three of them held a simple meeting.
The new investment project requires the assistance of Guo Yuanwei, the financial director, while Li Xinyu is responsible for the intermediary contact. When Gu Junhao is in the trading room and it is inconvenient to contact, Li Xinyu will handle it.
After explaining to the two the specific matters regarding investing in Jiang Jianbai's company and some of the contents previously discussed with Jiang Jianbai, Gu Junhao let Guo Yuanwei leave.
In addition, Gu Junhao also contacted the company's legal advisor, Lawyer Zhuo Yifan, who was needed for some legal issues and the signing of subsequent contracts.
Zhuo Yifan is an external employee and does not need to work in the office. You can contact him when you need him. Currently, Junshi Capital cannot afford a legal team.
Zhuo Yifan agreed readily. As for doing private things for the boss, not only an outsourced employee like Zhuo Yifan, but even Guo Yuanwei and Li Xinyu thought it was very normal.
To some extent, doing private things for the boss is also a symbol of trust; for Li Xinyu, this is especially true, as the boss allowed her to participate in the project in front of the future boss's wife.
“It must be because my work performance during this period has been pretty good.” Li Xinyu thought secretly.
For Guo Yuanwei, such a small project of 5 million yuan can be said to be easy to accomplish; after all, he has worked in a listed company before and has handled many acquisitions and investments.
All you have to do is to help the boss get more equity within a reasonable range. Although the boss does not say it explicitly, you should know what to do.
However, Guo Yuanwei does not quite understand his boss's private investment. The return cycle of physical investment is relatively long, and the new energy vehicle industry is currently in chaos.
For an auto parts company with little strength, the risk of entering this market for the first time is still quite high. It cannot be said to be an investment based on sentiment.
Jiang Jianbai himself has seen that not many of the fund's clients participate in the fundraising, and he has never heard of any major interactions between them and the boss. It's really hard to understand .
"If this were a listed company, it would probably be questioned about the transfer of interests, right?" Guo Yuanwei couldn't help but think as he walked out of the door.
…
"Brother Cao, should we sell Tong Huashun? It looks like the adjustment will take a few more days." Everyone in Li Zequn was also discussing Tong Huashun.
When the market opened in the afternoon, Tonghuashun's stock price rose slightly and returned to above 22 yuan, but then it was smashed down.
After three consecutive days of adjustments and a decline under the support of favorable factors, some people finally couldn't bear it anymore. In addition, the friends in the group who didn't catch the train before and went to Dongfang Wealth were even more eager to move after seeing the big rise today.
"I'll sell half of it. I'm a little reluctant to sell it all. The 26 that Li Kuang mentioned is also possible, but I don't know when it will arrive."
Looking at the falling stock price, Brother Cao could not help it. Currently, he has the largest holding in the group. Through several wave-based accurate point operations, his current holdings have reached 40,000 shares, and the market value of his holdings was once close to 900,000 yuan.
After three trading days of adjustments and such a heavy position, Brother Cao could not help it. According to the previous thinking, Tong Huashun will continue to adjust for a few days, and then he will take it back and make another good wave.
However, he was reluctant to sell out all his assets; once people have something, they are afraid of losing it. After several transactions by Tong Huashun, his assets nearly doubled.
Brother Cao still has feelings for Tong Huashun. If he sells half of it, the cost will be close to 0, and he can feel more at ease if he holds it.
"Okay, Brother Cao, you have a lot of market value, so it's normal to reduce it by half. I will clear my position and go to Dongfang Wealth to see if he is going to break through."
"It should have come earlier. It would have been great if it had come a few days ago. It hadn't even crossed the 60-day line then." These were the comments from other group members who hold Dongfang Wealth.
"I wonder what you are all making such a fuss about. The stock didn't fall that much today. Don't get washed out again." Li Ze jumped out and said.
"No, a good stock will always give me an opportunity to enter the market. Tonghuashun has made big adjustments every time. This time, based on 10%, the difference will probably be less than 20%. I will buy it back then."
"What if he can't get it back? The main force's routine can't remain unchanged. What if he speeds up the wash?"
"Then we can chase them in later. Let's grab some of Dong Fang's wealth first."
"Okay, it's up to you." Li Ze also felt sorry for them. This group of people were struggling all the time, the cost was getting higher and higher, and the money they earned was getting less and less.
Li Ze has now adapted to the rhythm of long-term holding, and will never move as long as the stock price has not reached the expected price.
Tonghuashun's closing price today was 22.10 yuan, down 1.47%. The drop was not too large, which was a good thing for Gu Junhao. In the morning, Gu Junhao pledged 30% of his existing holdings at the bank.
That is, 4,650 lots of shares have a pledge period of one year and can be redeemed in advance; calculated at 60% off the morning opening price, the total pledged amount of the 4,650 lots of shares is 6.258 million yuan; in addition, the stock split and ex-rights are not taken into account.
The warning line price for these 4,650 pledged shares was set at 14 yuan, and the liquidation line price was 12.80 yuan. At this price, the possibility of a margin call is almost zero.
Moreover, only 30% of the position is held. When the price really drops to that level, additional pledge can be made. The pledged stocks cannot be traded, but the unpledged stocks can still be traded.
Perhaps it won't be long before he can pay off the loan ahead of schedule and resolve the stock pledge issue. However, through this investment, Gu Junhao also deeply realized a problem.
That is, the cash flow in their hands is seriously insufficient. People with a net worth of tens of millions cannot even take out a few million, and have to obtain cash flow through loans.
Although the Junshi No. 1 Fund has very good returns, these are just book figures. Currently, Junshi Capital is still operating at a loss, and all required expenses must be covered through Gu Junhao's capital injection.
If you are reluctant to sell the stocks you hold, then you will not have much cash flow, and you will not see it at normal times; but once you need a large sum of money like you do now, you will seem a little stretched.
"It seems that I still need to do T to make some money. At least I need to have a few million in cash flow." Tong Huashun didn't know how long the adjustment would take. If the adjustment could be deeper, he could do some wave trading.
"What are you thinking about?" Zhang Yiru asked.
"Oh, I'm not thinking about anything. I'm just watching the stock trend." Today, both markets performed strongly, with the Shanghai Composite Index rising 0.57% and continuing to maintain above 2230 points.
The ChiNext Index emerged as a dark horse, opening and closing higher. After testing the 1,400 point level last week, it reached this level again today. In the end, the ChiNext Index surged 2.61% to 1,428.74 points.
The sharp rise of the ChiNext has undoubtedly activated market confidence. Today, both markets saw a surge in sectors and trading volume also increased significantly.
Junshi No. 1 also performed well today. Among the four holdings, only Western Securities fell by 0.73%, and the other three all rose. The one with the largest increase was Dangdong Fang Wealth.
Dongfang Wealth surged 3% today, and its trading volume once again exceeded the 500 million yuan mark. The closing price of 11.66 yuan is not far from the price of 12 yuan in early July.
Today is a feast for GEM stocks. Two small and medium-sized stocks starting with 002, although Wan'an Technology also closed up, its performance was also relatively average.
"Did it switch between high and low?" Tong Huashun fell today, Xibu Securities fell, and although Wan'an Technology did not fall, it closed rather reluctantly.
In the rebound market, these three stocks have risen the most and are currently at relatively high positions; while the index has soared, the main funds seem to intend to cool down and adjust.
"It seems like it's time to take some action." Over the past month, the liquidity of Junshi No. 1 has dropped to its historical low, and Wan'an Technology has not been traded for a long time.
Yin Zhijie hasn't traded for almost half a month, and only has small-scale operations with Dongfang Wealth and Xibu Securities. Since the expectations have been adjusted, we can naturally increase the intensity of T.
However, the only stocks that can be traded are Dongfang Wealth and Xibu Securities. These two stocks currently have the largest trading volumes and are more convenient to trade.
"Fortunately, the call was made in time. These three people are preparing to leave work early." After hanging up the phone, Gu Junhao said to Zhang Yiru with a smile. It was almost four o'clock now.
The three of them had already written their intraday operation logs and were preparing to skip work. If they were any later, no one would answer the call.
After planning the specific operations of the fund, Gu Junhao wanted to call the three people over and give them some instructions without waiting until tomorrow; the reason was that he had to focus on his personal account for a while and prepare to make some money.
During the time when he was not in the trading room, the fund account performed well. In addition to the rise in stocks, it also fully demonstrated that Gu Junhao could be completely relieved to leave the intraday operations to Xu Jianqing and the other two.
After a while, Xu Jianqing and the other two came to the office. Seeing Zhang Yiru there, they greeted her but were also a little surprised.
Zhang Yiru nodded but said nothing; Gu Junhao had made the call in front of her and Li Xinyu, and the purpose of calling the three of them was naturally to hold a short meeting.
Zhang Yiru originally thought that this somewhat involved company secrets, and wondered if she should avoid suspicion; but Gu Junhao said that was not necessary.
"I have other things to do this week, so I won't be in the trading room. I have no other intention in asking you to come here, I just want to briefly explain the fund's tasks for this week."
Looking at the three of them, Gu Junhao smiled and said, "Don't worry, I won't delay your escape from get off work."
"Boss, you're bullying us again. You just happened to catch us."
"Okay, stop talking nonsense. Ruoyu, you and Tingting can increase your efforts this week. If necessary, you can reduce your positions appropriately. You can decide the details. Xiaoxu, you can continue to do your job."
"Okay, I understand." The three of them responded separately. After working together for such a long time, the tacit understanding has been formed. Gu Junhao did not mention a code name throughout the speech, so the three of them naturally did not say much.
"Okay, there's nothing else to do. Go home early after get off work. I'm leaving too." After giving a simple instruction, Gu Junhao also stood up and left.
Xu Jianqing and the other three were preparing to leave work early, so it didn't make sense for him, as the boss, to wait until 5:30 on time.
In the evening, Tonghuashun issued an inconspicuous announcement that shareholder Gu Junhao pledged 465,000 shares, accounting for 30% of the shares held.
Most people will not care about a simple pledge announcement if you are not the actual controller of the company or an important shareholder, but there will always be some people who will pay attention to it.
Li Ze is one of the people who are paying attention. As a holder of Tong Huashun, Li Ze will naturally pay attention to his announcements, especially within the period of the semi-annual report just released.
Like most ordinary investors, this simple announcement did not attract Li Ze's attention at first.
It's nothing more than complaining in my heart about which shareholder is cutting leeks in a different way.
"Huh? This name sounds familiar." Li Ze, who was about to close the webpage, suddenly stopped pressing the mouse.
After a while, Li Ze reacted: "Fuck! Isn't this Brother T? I said Brother T must be in Tong Huashun."
30% of the shares, 465,000 shares; that is to say, Brother T has 15,500 lots of Tong Huashun.
"What a big deal! I still underestimated Brother T." Li Ze was now more certain that the 12,000 shares that pried the stock up at the lower limit were actually held by Brother T.
Unable to suppress his excitement, Li Ze shared the web link to the group.
"Brothers, Tong Huashun has issued an announcement, guess what I found!"
"I just saw it. It's just equity pledge. It's useless. And the amount pledged is not much, just the amount of hot money."
"I've also looked at it, there's nothing special about it, it's not good news, and the stocks all fell today even if there was good news."
"Haha, you are still too inexperienced. Look at the name of the pledger." Li Ze stopped playing tricks.
"The pledger's name? Gu Junhao, what's wrong?"
Compared to fund peers who will study everything about their opponents, most ordinary retail investors are unfamiliar with the name Gu Junhao, and only some die-hard fans pay attention to Brother T's real name.
On the Internet, Brother T’s name is more famous than Gu Junhao’s.
"Gu Junhao is Brother T. What did I say at the beginning? I said Brother T is definitely in it. Now it's finally exposed." This announcement is equivalent to proving Li Ze's analysis a few months ago, and it can be said that he has made a big show for himself in front of his group friends.
"Fuck! Gu Junhao is Brother T?"
“Yes, these can be found.”
"Well, Li Kuang is right. It is definitely Brother T. There may be someone with the same name, but I don't believe there is another Gu Junhao who holds more than 30 million Tonghuashun shares."
Brother Cao said that as soon as Li Ze said that Gu Junhao was Brother T, Brother Cao went to the official website of Junshi No. 1 Fund to confirm it. Compared with Li Ze's blind confidence, Brother Cao was much more rigorous.
"That's amazing. Brother T actually holds a stake in Tong Huashun worth more than 30 million yuan. He's really rich. But why did he pledge these shares? It's not much money."
“I guess Brother T doesn’t want to sell it, but he’s unwilling to just leave it like this, so he wants to make some money,” Brother Cao said.
"Yes, that's absolutely true. Haha, Brother T probably didn't expect that he would have to issue an announcement for pledging his shares. Now he can't reap any benefits."
"Nonsense, Brother T has never cheated anyone, and he doesn't know about these things when he runs a private equity company. I guess Brother T must have other reasons."
"I don't know if there are other reasons, but Brother T is making money too quickly. He only had less than 200,000 yuan in October last year. In less than a year, his Tonghuashun position alone has more than 30 million yuan."
"There's no comparison, there's really no comparison. I also had 200,000 last year, and I still have 200,000 now. This 200,000 is all thanks to this Bo Tong Hua Shun. Tell me, aren't you angry?"
Li Ze saw that everyone was talking about irrelevant things, and he became anxious for a moment, and couldn't help interrupting, "What are you guys still talking about? We're going to join Tonghuashun tomorrow. Brother T can't sell the pledged items, and we have to issue a notice to release the pledge.
I will go all in tomorrow, and I will clear my position when Brother T releases the pledge."
“But Brother T only pledged 30%. If 30% of the warehouse is pledged, the rest can also be traded.”
"A 30% warehouse has a market value of nearly 10 million yuan. If they are not afraid of your tens of thousands of yuan, why should they be afraid? Anyway, I have made up my mind. I will not sell it at 26 yuan. I will sell it as soon as Brother T resolves the pledge."
"That's different. Brother T is fine after losing 10 million yuan, but I feel a little pain after losing tens of thousands of yuan. But Li Kuang, you are really strong. You should continue to go all in."
“In fact, Brother T has given us a clue, which is that Tonghuashun can keep 30% of its assets as collateral when it achieves a certain level of profit, and the collateral is usually for one year.
Even if Brother T pledged the shares for less than a year, it must have been several months at least, which means that Tong Huashun had a chance during these months. ” Brother Cao concluded.
"Brother Cao is right. He is worthy of being the big brother in the group. So there is no need to be afraid of my cost of 13 yuan. I will just go all in and wait." Li Zehe said.
"That makes sense. Then find an opportunity to take advantage of him, then cut down the cost and keep 30% of the profits."
Li Ze shared it in the group, and everyone discussed it. Some people who were curious shared Tong Huashun’s announcement on Taogu Bar, and Gu Junhao inevitably became popular again.
In the evening, Gu Junhao smiled when he saw that Tong Huashun's inconspicuous announcement appeared among the popular posts on Taoguba.
No matter how the market interprets it, you have done what you can. Leave the rest to the market and individuals.
Su Mingyu also saw the hot post about Tong Huashun’s announcement on Taoguba at home, and couldn’t help but think that Brother T was still in Tong Huashun. It seemed that Dongfang Wealth should be among the fund’s holdings.
Maybe I'm still overweight. It's a good thing I didn't buy these two stocks, otherwise, the relationship between the two is so close, and some things will be hard to explain at that time.
Although the performance of the Zhongguo CNR stock he bought has not been ideal in recent times, it has never fallen below the predetermined stop-loss price. Su Mingyu has become more and more confident in his judgment.
Don't follow Brother Gu, just choose stocks based on your own analysis and judgment. Even if the rate of return is a little lower, it is the greatest affirmation of yourself.
In the market, you can only earn profits within your own cognition, and only profits within your own cognition can be guaranteed to be converted into final profits.
Keep following in the footsteps of others, and one day, the profits will be returned to the market.
However, Su Mingyu also didn't understand why Gu Junhao would pledge such a small number of stocks to cash in millions of cash. He thought that the company had problems with its operations and was short of money.
That night, Su Mingyu also called Gu Junhao to inquire. He felt relieved after receiving the reply that everything in the company was running normally. Originally, Su Mingyu meant that if he really needed money, he could lend some to Brother Gu.
Of course, 5 million is definitely not possible, but 500,000 is no problem.
Gu Junhao was amused and confused by Su Mingyu's enthusiasm, but at the same time he was very grateful for his friendship. This brother is really good at getting along with others. He lent him 500,000 yuan just by asking.
There are many people who have the same idea as Su Mingyu about Junshi No. 1's holdings; some private equity fund managers who pay more attention to Gu Junhao, such as Wang Chao, Ren Yetao, etc., also vaguely guessed that Dongfang Wealth must be among Junshi No. 1's holdings.
"How did this guy achieve such a profit? Dongfang Wealth has been falling for more than a month, or did he just go for the short term?" Ren Yetao exclaimed.
Judging from the period of time that Gu Junhao held Tonghuashun, he should have entered it around June and held it for more than two months. It is likely that Dongfang Wealth also established its position in the same period of time.
The performance of Dongfang Wealth in the past two months has not been very good. Even with today's big surge, it has not been able to return to its previous highs, while Tonghuashun has set new highs.
Either he changed stocks, or he reduced his holdings at the original high level. I have to say that this guy's judgment of the general trend is really strong. He can make money from a stock that has been falling for more than a month.
But there is nothing I can do even if I know this. Stocks like Dongfang Wealth are crowded with institutions, and it is not something that a fake institution like mine can touch. However, Tong Huashun's trading volume is not high, so I might have a chance to get some money from him and take revenge at the same time.
Wang Chao's assistant Shi Xin was also working overtime; staying up late is the norm in the financial industry.
Shi Xin analyzed by comparing Gu Junhao's appearance on Tonghuashun's Dragon and Tiger List, as well as the subsequent intraday delivery orders of the limit down, and then Gu Junhao's public posts on Taogu Bar.
According to Gu Junhao's all-in style, even if he didn't all-in Dongfang Wealth, he must have a heavy position. However, he was able to endure the decline for more than a month without buying at the bottom. This kind of character is really not like that of a young man.
The reason for this belief is based on the net asset value rate of Junshi No. 1's public curve. The net asset value rate cannot deceive people. If Dongfang Wealth is really held through a downward cycle, the fund would not be able to perform so strongly.
"This guy is a Ninja Turtle." Shi Xin was at a loss for words and could only think of using this word to describe Gu Junhao's trading behavior.
Then, Shi Xin thought again, if it were me, would I be able to bear it?
…
Gu Junhao disclosed his holdings intentionally, so he didn't think it was a big deal to be criticized by everyone. However, there were comments online saying that his fund was definitely a all-in investment of Dong Fang Wealth.
This is something I had not considered before, but after thinking about it, I am not surprised; there is no reason to go all in on one stock with the same concept and ignore the other.
However, what can be done about this? Trading volume and trend cannot deceive people. Dongfang Wealth is about to start. Will the main funds dump the market for such unconfirmed news?
This kind of thing is obviously impossible to happen. From another perspective, if the main funds dump the stock frantically once your holdings are exposed, it is also a kind of honor.
