Chapter 367 Public Fund Manager Takes Office
After returning home, Gu Junhao did not look at the stock market as he said last night. Not only that, he did not go to the company for the next two trading days.
Before the stock resumes trading at 125,700, work intensity temporarily dropped to a low point, and Gu Junhao also had a rare opportunity to take a break for a while. Everything will have to wait until next week when the stock resumes trading.
During these two days, Zhang Yiru saw that Gu Junhao rarely went to work, so she also took a leave of absence and stayed at home. Together with the weekend, the four days were enough for her to have a short vacation.
People say that marriage is the grave of love, but Gu Junhao doesn’t think so. After getting married, the two still maintain their pre-marital habits and passion.
After returning home and having dinner, the two would take a walk hand in hand in the community, slowly stroll to the nearby shopping mall, buy a drink, and stroll around aimlessly.
Or you can stroll hand in hand to the nearby vegetable and fruit store to see what vegetables are available for purchase or buy some fruit to take home.
After returning home from a walk, apart from doing his normal work, Gu Junhao rarely plays with his mobile phone. The two of them will watch TV and chat together.
Although life is full of dull taste, in Gu Junhao's opinion, such life is the most comfortable . No one stipulates that having money means you must indulge in feasting and revelry.
Due to his living environment and family education, Gu Junhao did not indulge himself much in his previous life after he became financially independent. This is even more so in this life. He has already gone through some of the experiences he should have had in his previous life.
Of course, this kind of indifference requires a certain foundation. Having lived two lives and been engaged in the most cold-blooded financial market, Gu Junhao has truly experienced the society.
If you want to live the life you want, even if it is a dull life, you need to be good enough. A love that succeeds by chance will sooner or later be worn away by the reality of food, clothing, housing and transportation, and the last trace of attachment will be wiped out.
Gu Junhao even imagined that if his predecessor had met Zhang Yiru in the mall like himself, and the two of them fell in love, would they be able to really be together in the end?
There is a probability of this happening, and it is not small. At the beginning, Zhang Yiru called me because she knew my predecessor. But even if the two of them end up together, whether their life will be as they wish is a matter of opinion.
Her previous abilities were not bad, but they were far from excellent. Without external help, Zhang Yiru would not have been so successful in her work. After getting married, with the chaos in life, the beauty of her childhood was bound to be consumed.
After the black swan event in 2019, the marriage rate has been lower every year. The reason is actually similar: the pressure of life is too great. Many people are afraid of marriage, not because of marriage itself, but because of whether they have the ability to manage a good marriage.
Regardless of whether you are a man or a woman, if you don’t have a sense of happiness yourself, how can you have enough love to care for your loved one and your family?
Life is more bitter.
During the four-day temporary holiday, Gu Junhao did not completely ignore the stock market trend. Except for February 29, the market trend this week was very good.
In the four trading days in March, the Shanghai Composite Index rose for four consecutive days and returned to above 2,800 points. It closed at 2,874.15 points on Friday, March 4, a rebound of nearly 200 points compared to February 29.
However, by Friday this week, the Shanghai and Shenzhen stock markets began to diverge, and there was no longer a general rise in the market. The ChiNext Index fell by 4.98% on Friday, with 27 ChiNext constituent stocks hitting the daily limit and only two stocks rising.
In fact, it is very rare that the market has only started to diverge this Friday. It is already March 2016, and both institutions and ordinary investors have generally accepted the expectation that A-shares will enter a bear market cycle.
In a bear market cycle, the incremental funds in the market are naturally not as much as in a bull market, and the national team is no longer involved in rescuing the market. The general market rise will not be able to continue.
In the future, with the reduction of incremental funds, A-shares will enter a stage of local market trends, and the general rise pattern will be abandoned.
When talking about the national team, we have to mention the circuit breaker. During the circuit breaker period, the national team, which had gradually withdrawn from the public eye, was forced to enter the market again to maintain stability, but the effect was not good.
After seeing this, the national team began to gradually withdraw from overt transactions and fell silent, while the stock market also fell step by step, finally hitting the bottom of 2638 points in late February.
It was the sharp drop caused by the circuit breaker that led to the replacement of the village chief. The previous village chief retired sadly, and the new village chief officially took office at the beginning of this month, the famous 641.
Everything has its pros and cons, and the same goes for the new village chief. There is no need to say much about the cons, and future generations will judge for themselves. However, Gu Junhao believes that after 641 took office, there have been certain results in cracking down on hot money and enforcing rules.
The market manipulation and crazy profiteering model that were prevalent before he took office, such as the Wencheng Gang, began to gradually decrease as his term continued, and the market began to slowly become standardized.
In subsequent A-share transactions, supervision has become increasingly strict, and more and more people have been investigated and punished for manipulating securities, many of whom were punished after the event. The crackdown on hot money by 641 has also caused institutions to form groups to an abnormal level.
Most people think that the A-share market is a casino. There is nothing wrong with this. On the contrary, it can make ordinary people more respectful of the market and prevent them from rushing into the market and becoming fools without knowing anything.
But in fact, there is an essential difference between A-shares and casinos. There is no logic in casinos, but every bull and bear market in A-shares is logically self-consistent.
Take the future of institutional clustering as an example. If there had not been the crazy attack on hot money by 641, which brought market sentiment to a freezing point and hot money began to lurk or exit transactions, institutions would not have been able to use insider information without scruples, and such a market environment would not have arisen to a large extent.
There is no more money to be made through side channels, so everyone can only sit down and play the real trading. Institutional investors with professional knowledge will naturally find the value gap in the market. If you buy, I will buy too, thus forming a trend of group buying.
In fact, this is exactly the case. From the time he took office until he became the village chief, the securities market would occasionally report that the actual controllers of some listed companies, Gao Yuhangju, were arrested for insider trading.
During the bull market in 2015, some Internet celebrities and stock analysts who were scammers were also well disciplined. A celebrity named Xu even went into the market to operate a sewing machine. What a coincidence, his surname was also Xu.
The market environment is becoming increasingly fair, which is a good thing for ordinary investors. As long as you keep a calm mind and learn patiently, the stock market still has relatively great potential, at least it is much better than starting a business.
As for Nvidia, its share price encountered resistance between US$32 and US$33 and began to enter a phase of adjustment, with the trend returning to a trend of small ups and downs.
Speaking of which, Nvidia's trend is really wonderful. After each round of adjustment, the low point has been raised. The initial bottom-fishing time was between 19 and 20 US dollars, this time it was between 24 and 25 US dollars, and the last time it was around 16 US dollars.
A-shares rarely have such stock trends. Most individual stocks go back to where they came from. Capital markets of different natures are different.
America's economy is extremely dependent on the stock market, so the protection it provides to the stock market is unprecedented. Unlike us, it is just a prop.
Four days, neither long nor short, passed by quickly, March 7th, Monday.
This morning, Gu Junhao came to the company early. Instead of rushing to deal with company affairs, he went straight to the original trading room. Today is his first day as a public fund manager.
Gu Junhao's transformation from a private equity fund manager to a public equity fund manager has received mixed reviews from the outside world. Some people approve of Gu Junhao's behavior and admire his courage. Public equity funds operate in a completely transparent manner, accept applications from ordinary investors, and have strict requirements for holdings. Their operations are much more difficult than private equity funds.
Some people also think that Gu Junhao is simply putting a shackle on himself, which is very irrational. Those who work in private equity institutions can buy and sell stocks freely, and the money they earn is basically their own, but this is not the case with public equity. He is simply making himself uncomfortable.
But Gu Junhao's ambition is obviously more than that. Although engaging in public offerings will cause certain losses in personal assets, Gu Junhao, who is now worth billions, does not feel too heartbroken. When money reaches a certain point, it is just a number.
He had never thought about becoming the richest man in the world. Financial freedom was not a difficult thing for a reborn person, but whether he could make a career was the ambition of a reborn person. Compared with personal wealth, Gu Junhao wanted to build his own investment circle.
If there must be a reference, Gu Junhao hopes that he can achieve the level of a diversified investment empire like Yifangda, covering all major financial categories and achieve his own career.
Putting aside personal career ambitions, in fact, as personal accounts grow bigger and bigger, it is no longer necessary for me; on the contrary, it will bring certain troubles.
During the bull market phase, every transaction that made huge profits for Gu Junhao, including personal accounts and fund accounts, was subject to strict supervision and review. Fortunately, Gu Junhao had always been clean and no problems were found.
Although regulatory regulations for large funds are inevitable in the future, it will be easier to deal with with public offerings. Otherwise, all the money will be earned by you alone or a group of wealthy people you identify with. What will that mean?
This is also one of the reasons why the local regulatory authorities brought him along at the beginning of the rescue. As a clean investor, the regulators believed that he would protect and trust the market.
In terms of the amount of funds, the rescue of the market is not something that Gu Junhao could participate in with the amount of funds he had at the time. Even now, Gu Junhao's funds are not that large. The amount of money around 10 billion is not particularly large in our A-share market. It is just the daily trading volume of a certain stock.
