Chapter 263 People and Things in the Workplace
Monday, November 24, 2014.
Gu Junhao, who had not sat in his office for two consecutive weeks, sat in his boss chair again.
Last Friday, after roughly judging the trend of the market and individual stocks and seeing the earnings of Junshi No. 2 gradually stabilize, Gu Junhao decided not to participate in the specific transactions of the fund this week.
Independent of transactions, handling company affairs, chatting with clients, and giving orders to your assistant when you have nothing to do, this is the life of a boss.
"Asan is planning to build a high-speed railway line, the second longest in the CPPCC, at a cost of 200 billion yuan. Today, it will sign a feasibility study contract with my country. It is expected that the two countries will jointly build this high-speed railway."
"Huh? Good news before the market opens?" Gu Junhao was browsing the news when he suddenly saw this piece of news.
I took a look at the release time and it was still hot.
Although there is no clue at present, it is precisely this kind of news without any clue that can be regarded as a huge positive for stocks with Chinese characters in their names.
The 200 billion project includes high-speed railways, bridges, tunnels, ports, and designs, which is obviously not something that a single company can handle.
Most of these large infrastructure companies are concentrated in the mid-cap stocks. In addition to the individual stocks themselves, this is undoubtedly good news for the overall market.
“No wonder the mid-cap stocks didn’t have the same pullback as the brokerages last week and performed relatively strongly. It looks like today will be another day for the blue chip stocks to perform well.”
…
In the trading room, Xu Jianqing had already told Wu Peng and Cao Wenxun that Gu Junhao would most likely not appear in the trading room this week. It was normal for a fund manager not to appear in the trading room.
However, Cao Wenxun couldn't help but ask, "Is Mr. Gu really not coming? Isn't Junshi No. 2 not already built?"
"It's already been built. This is the warehouse that the boss wanted to build." Xu Jianqing replied.
It’s quite interesting to say that the two new traders both call Gu Junhao "Mr. Gu", while Xu Jianqing and the other two still call him "Boss". This kind of address also reflects a sense of closeness.
"Have you established the position? Aren't there still a lot of funds in the total account?" Junshi No. 2 currently has more than 80 million yuan in funds in its account, which includes the remaining funds from establishing the position and the profit from T trading.
In Cao Wenxun's opinion, even if a certain amount of funds needs to be maintained in the account, there is no need to keep so much.
"That's for us to do T. That's the boss's idea. There's no need to fully invest. It's more important to maintain liquidity of the position."
Xu Jianqing's words about maintaining position liquidity seemed to have touched a nerve in Cao Wenxun, causing him to ask, "Is it the same for Junshi No. 1? Does it also have most of the funds?"
"That's a little less, about less than 8% of the total size." Xu Jianqing knew that Junshi No. 1's current cash flow remained between 8 million and 9 million.
According to Gu Junhao's original design of the positions of the two funds, when the market is good, the cash flow of Junshi No. 1 entering the second half of the holding period can be maintained between 8% and 10%.
However, due to the huge increase in Junshi No. 1 last week, the cash flow standard fell below 8%. For Junshi No. 2, it is better to maintain a large cash flow during the initial position building period.
In addition to managing their own risks, it is also beneficial for traders to use more funds to do T during the day to reduce holding costs. When the holding cost drops to a certain level and the index pulls back, the cash flow status of 8% to 10% can be restored.
It is less than 8% of the total size, which is nearly 10 million yuan of funds. It is really amazing that such a return can be achieved even though the position was not fully invested last week.
Cao Wenxun thought to himself, and said at the same time: "Junshi No. 1 performed so well last week, the stocks it holds must be very good."
"It's okay. I'm used to it. These are the stocks chosen by the boss anyway. Sooner or later, Junshi No. 2 will have such a day." Xu Jianqing said proudly.
"The outside world is quite interested in the holdings of our No. 1 Fund. The sectors that rose sharply last week are basically concentrated in those few sectors. I don't know if you can guess it."
"Let them guess as they please. There's no need to announce it. Let's get ready to start the transaction." Xu Jianqing didn't want to talk about this topic anymore.
Although he did not have much work experience, Xu Jianqing did not realize that Cao Wenxun was trying to trick him; however, Xu Jianqing always kept in mind Gu Junhao's warning about Junshi No. 1, and tried to talk less about Junshi No. 1 and keep a low profile.
Wu Peng, who was standing by, heard it and couldn't help but look at Cao Wenxun deeply. Unlike Cao Wenxun, Wu Peng had no interest in Junshi No. 1's holdings.
Seeing Xu Jianqing stop and not wanting to say more, Wu Peng smiled and continued, "You all saw the news this morning, right? It looks like the Chinese characters will be performing today."
What Wu Peng was talking about was the news that Gu Junhao had seen about the 200 billion yuan investment in building railways.
"I see. I don't know how my First Heavy Industries Group Corporation performed today. Hey, Brother Peng, your Communications Construction Group Corporation should perform well today." Xu Jianqing sighed.
Compared with the business of Zhongguo Communications Construction, which is directly related to this news, Zhongguo First Heavy Industries is relatively marginal, which is why Xu Jianqing sighed.
In particular, among the first two funds, only Zhongguo Yizhong was in a loss-making state.
"It's okay. If all the related Chinese-character enterprises are going high, the first level will definitely go high too. The difference is just how much. There is still a chance to do T."
"That's true. Anyway, as long as the entire sector moves, he will definitely move as well."
While chatting, the Shanghai and Shenzhen stock markets also entered the call auction stage. During the call auction stage, the securities and insurance sectors that performed well in the last two trading days of last week remained active.
Affected by the weekend's central bank's reduction in RMB loan and deposit benchmark interest rates, real estate stocks opened higher across the board during the call auction. Last weekend, Central Bank lowered the one-year loan benchmark rate by 0.4 percentage points and the one-year deposit benchmark rate by 0.25 percentage points.
Lowering the benchmark deposit rate and the benchmark loan rate will undoubtedly further promote the inflow of funds into the market. In addition to the stock market, the real estate industry is the biggest beneficiary.
Influenced by the news about the 200 billion yuan high-speed rail line, the stocks with Chinese characters in their names also performed very well today. The Zhongguo First Heavy Industries, which Xu Jianqing was watching, ended the call auction with a price of 4.03 yuan, opening 0.46% higher.
At 9:30, trading officially began; large amounts of off-market funds attacked real estate stocks, causing real estate stocks to rise rapidly, and several real estate companies with smaller market caps in the sector quickly hit their daily limit.
From the perspective of news and policies, there is no doubt that the off-market funds that have missed out on opportunities are more fond of real estate stocks, and the central bank's two-way reduction in reserve requirements undoubtedly has greater certainty.
Brokerage firms and insurance companies also maintained a high-speed upward trend. Xibu Securities opened with an upward gap and directly broke through the 19 yuan integer mark. It maintained an increase of more than 3% at the beginning of the morning.
On the contrary, the performance of stocks with Chinese characters in their names was relatively average as funds were flowing rapidly into large financial and real estate stocks. Zhongguo First Heavy Industries opened high and closed low. At 9:50, the share price fell below the 4 yuan mark again, closing at 3.99 yuan.
During the same period, Zhongguo Jiaojian also fluctuated downward and turned green after opening high in the morning.
"Alas, big off-market funds still prefer real estate and finance." Xu Jianqing sighed.
"Don't be afraid. Funds will flow back to stocks with Chinese characters in their names. The outflow from stocks with Chinese characters in their names is not large. You can buy some and do T while the market is green." Wu Peng said to Xu Jianqing. The two of them operated stocks in the same sector at the same time, which also helped each other.
"Well, yes, don't worry. Big off-market funds are attacking big finance and real estate. Off-market funds also have the need to take profits. Besides, the performance of Chinese-headed stocks was very good last week." Cao Wenxun also said with a smile.
"That's true. It's better to buy a little. Anyway, it hasn't broken yet." Xu Jianqing also said with a smile, but the amount allocated to him today was not much, only 20 million yuan.
The remaining funds were allocated to Wu Peng and Cao Wenxun. Xu Jianqing admitted that he was not as good as the two in T-management, so he allocated most of the funds to them.
Xu Jianqing, who had calmed down, was able to see from the intraday delivery chart that Zhongguo No. 1 Heavy Industry did not have many large orders of more than 2,000 lots sold near the price of 3.99 yuan, and most of the sales were kept near the medium level.
“Wait and see at 10 o’clock. If it hasn’t dropped too much, you can buy it.” The boss said that there are greater fluctuations during the morning half-hour trading time. When you are unsure, it is best not to rush to buy.
At 10 o'clock, the securities sector as a whole surged, Zhaoshang Securities continued to rise rapidly and hit the daily limit, in addition, GF Securities and Founder Securities followed closely, and Xibu Securities also rose by more than 8%.
Under such circumstances, the Shanghai Composite Index successfully broke through 2,500 points again, rising by more than 0.8%.
Zhongguo First Heavy Industries fell to a price of 3.98 yuan during this period, and the number of buying points began to increase during the trading session, with buy orders of more than 3,000 and 5,000 lots appearing from time to time.
At this time, Zhongguo Jiaojian, which was directly related to the positive news, had been pulled up again to the red market state, and the stock price was 6.81 yuan. At this time, Wu Peng also reminded: "Xiao Xu, pay attention, Zhongguo Jiaojian's transaction volume has increased, and it seems that it will stabilize and rise."
Due to Xu Jianqing's insistence, Wu Peng and Cao Wenxun no longer called him Team Leader Xu, and called him Xiao Xu like everyone else.
"Okay, I understand."
At 10:02, the share price of Zhongguo First Heavy Industries began to rise slowly, and at 10:05, it returned to the price of 3.99 yuan.
"It should be stable, let's start buying." Xu Jianqing muttered secretly. The trading volume is not large at the moment. It is naturally difficult to buy 20 million yuan at a low price at one time.
Looking at his holdings of 375,000 lots, Xu Jianqing decided to increase his holdings to 400,000 lots. The purchase volume of 25,000 lots was relatively easy to buy considering the buy orders of 3,000 to 5,000 lots that appeared from time to time on the market, and it could also cure the boss's obsessive-compulsive disorder.
Xu Jianqing placed an order at a flat price of 4.01 yuan, with 25,000 lots divided into 10 orders of different sizes. For Zhongguo No. 1 Heavy Industry, which is currently priced at 3.99 yuan, it is relatively easy to buy.
Xu Jianqing's purchase order of 10 million yuan undoubtedly had a certain promoting effect on the trading of Zhongguo No. 1 Heavy Industry. Zhongguo No. 1 Heavy Industry returned to the 4 yuan price again, and by 10:14, it rose again to 4.02 yuan, but then fell back to 4 yuan again.
At 10:26, Zhongguo First Heavy Industries once again reported a flat price of 4.01 yuan. Within 20 minutes, Xu Jianqing's 10 million yuan order was successfully executed, and the position reached 400,000 lots. The holding cost was 4.125 yuan, which was not much different from the previous price of 4.13 yuan.
While Xu Jianqing was busy building a position, Zhongguo Jiaojian had already started to rise rapidly as Wu Peng had initially suggested, led by dozens of large orders worth tens of thousands of lots.
By the time all of Xu Jianqing's orders were executed, Zhongguo Communications Construction's share price was 7.18 yuan, up 8.46%.
"Hey, you're the ." Xu Jianqing said with some envy.
At 10:30, Zhongguo Communications Construction reported 7.28 yuan, up 9.97%, the stock price hit the daily limit, and the stock price hit a historical high.
