Chapter 391: The Journey Begins
At 9:30 in the evening, Junshi Price Investment also updated today's net value, 1.2939 (-2.04%), retreating for two consecutive trading days.
At the same time, today's retracement rate of 2.04% is also the largest single-day retracement since Gu Junhao took office at Junshi Price Investment. The retracement rate from the highest point has reached 3.68%.
Although the retracement is not small, compared with most of the current public funds, the retracement of Junshi Price Investment is not very large.
There are only three aspects to judge whether a fund manager is good: stock selection ability, drawdown strength and historical performance.
The strength of retracement and the ability to adjust portfolios are the foundation of a good fund manager.
Although investors who chased high prices in the past few trading days were very depressed in the stock comment section, they were venting their feelings about being trapped after buying.
However, considering the drawdown of some other funds in the market, this group of investors still prefer to continue to increase their holdings in Junshi Value and still maintain their trust.
Some investors who did not dare to buy in the previous trading days began to think about buying stocks at the bottom after seeing Junshi Price Investment retreat for two consecutive trading days.
"Buy it. What's there to be afraid of when it's 2,800? Brother T has been doing research recently and has no time to manage the fund. Drawdown is normal."
"When Brother T comes back from his research, the fund will definitely go up. Don't panic, just buy it."
"Oh, I thought so. Brother T is not in the company. No wonder. It's okay to buy it."
"Isn't it too early to buy now? The market has already broken down. Besides, I don't know when Brother T will come back."
"Anyone in the comment section who knows when Brother T will be back?"
"That's right, is there no employee of Brother T's company who bought this bull fund? Come out and talk about it. How long will Brother T be away on business for?"
"Yes, I am, and I bought it as soon as it resumed trading, but I don't know when our boss will come back."
"Then I didn't withdraw. It seems that I can only invest regularly. It is really difficult to buy the bottom of the fund. You don't know when the bottom will be."
"You're talking as if you can buy stocks at the bottom. And even if you buy stocks at the bottom, can you hold on to them?"
"Don't say such hurtful things. Why do leeks have to make things difficult for leeks? It's easy for everyone to get some money back!"
…
The next morning, Gu Junhao, who was still sleeping, was awakened by a knock on the door.
I got up and opened the room. It was Liu Tingting and Li Xinyu. "Boss, we are leaving. Is there anything else you want to tell us?"
Gu Junhao replied with sleepy eyes: "Oh, nothing, be careful, if there is anything, let Brother Li come forward, and you can handle the rest yourself."
"Okay, no problem. I wish you and Sister Zhang a happy belated honeymoon. Let's go."
"Well, go ahead. When you reach the last company in Zhejiang Province, let me know and I'll meet up with you."
"no problem."
After this group of people left, Gu Junhao no longer felt sleepy. Since he was already awake, he simply headed for Jinyang. However, before leaving, he had to say hello to Mr. Wang from the wine distribution company.
During these two days, Gu Junhao could also feel that the wine distribution company attached great importance to him; before leaving, he still had to say hello out of courtesy.
After talking to Mr. Wang, he rejected his kindness of sending someone to take him to Jinyang; Gu Junhao began to pack up and prepare to rush to Jinyang.
When we came, there were 10 of us and we chartered a bus; but when we left, I was alone, and there was no high-speed rail from Fenshi to Jinyang.
During my interactions with senior management of Fenjiu, they did mention that intercity trains would be opened next year, but currently there are only K-series trains and only a few a day.
The earliest train was at around eight in the morning. Gu Junhao looked at the time and realized it was too late. He could only take a taxi to travel more than 100 kilometers.
After arriving in Jinyang, Gu Junhao rented an off-road vehicle from a car rental company near the airport. Jin Province is mountainous, so off-road vehicles are relatively convenient.
At the same time, Liu Tingting and others were reporting in the impromptu research group where they had been, and they also took some photos of the scenery along the way to show Gu Junhao.
Zhang Yiru had not arrived yet, so Gu Junhao simply drove to a nearby cafe, sat down, turned on his computer and started looking at the market. It was already the opening time.
After two consecutive trading days of sharp declines, the trading volume in today's early trading session shrank sharply, but the market trend was more stable than in the previous trading days.
After opening slightly lower in the morning, the Shanghai Composite Index began to fluctuate upward, moving up and down around the flat point, with an extremely small amplitude of less than 0.6%.
Under the conditions of low trading volume, such a fluctuation is in line with the market rules, and there are more negative news on the news front.
Affected by bulk commodities and external markets, ferrous metal futures prices continued to fall in the morning session, which also led to poor performance of A-share ferrous stocks.
The rebound of the Dow Jones Index led to a decline in gold and crude oil prices. At the same time, the offshore RMB exchange rate fell below 6.54 in early trading, hitting a 54-month low.
US-listed Chinese stocks fell sharply due to the statement of the China Securities Regulatory Commission. At the same time, shell resource stocks also fell after the opening of today.
The instability of the exchange rate has a profound impact on the trend of A-shares in 2016. With the advancement of globalization, the impact of the exchange rate on the A-share market will become increasingly greater in the next few years.
There is some good news, but the biggest positive news today is the economic data released by the statistics department.
CPI increased by 2.3% year-on-year, and PPI decreased by 3.4% year-on-year. The trend of improvement in economic data is quite obvious. The reduction in inflationary pressure also plays a certain role in market stability.
At around 10 o'clock in the morning, the Shanghai Composite Index experienced a brief decline, finally filling the gap that was not filled by yesterday's decline.
Subsequently, the Shanghai Composite Index rebounded slightly again. There were no major highlights on the market, but the performance of the home appliances and dairy products sectors was still acceptable.
The liquor sector is still in the process of adjustment after rising at the beginning of the month, but the banking sector showed signs of stabilization today after a sharp correction in two trading days.
With mediocre performance, sluggish trading volume and an unstable external environment, it seems unlikely that the index will rebound quickly.
However, A-shares below 2,900 points are still relatively safe. The stock market has not fluctuated much since March. If you buy at this bottom and wait patiently, the probability of making money is still relatively high.
Afterwards, Gu Junhao took another look at Nvidia's performance last night. After Nvidia hit a new high of US$37.46 on April 15, it entered an adjustment mode.
As of last night's close, the stock price closed at US$35.96 and re-standing on the trend line. The short-term adjustment should be about to end.
Calculated based on today's exchange rate, the profit from Nvidia holdings has exceeded 500 million yuan, and the profit ratio has reached more than 43%.
With the slow bull market in US tech stocks, the giants holding the top tech stocks have made a fortune and are reaping huge wealth at will.
Even Nvidia, which is trading around US$36, can only be considered the bottom in my memory!
"Hey, it's still Mike who's the boss. Look at us, we're losers!" Staring at Nvidia's K-line chart, Gu Junhao couldn't help but complain.
Not to mention other aspects, the stock market performance in recent years is indeed much better than ours, and the investors who participate in the stock market are much happier than us.
Around 11 o'clock, Gu Junhao's cell phone rang. It was Zhang Yiru calling. She must have arrived at the airport.
After turning off the computer, Gu Junhao stood up and headed towards the airport, and the rare rest time for the two of them began.
…
The sharp drop in the market for two consecutive trading days on May 6 and May 9 basically ensured that there will not be much change in the market situation this month.
Coupled with changes in news and unchanged policies, investors are naturally more cautious about the current market.
The most important reason is that the real estate market has officially entered a hot period since the end of last year.
The ever-increasing housing prices in various places have caused the stock market's heat to drop sharply, and investors have almost forgotten the existence of this market.
From January to early May this year, the prices of newly built commercial housing in 12 first- and second-tier cities across the country increased by more than 10% year-on-year.
Among them, Shenzhen, Shanghai, Xiamen and Nanjing increased by 54%, 33.8%, 28.3% and 27.1% respectively.
Among the 70 large and medium-sized cities, the highest increase in newly built commercial housing exceeded 35% at the beginning of this month alone.
Just like from 2014 to 2015, when the stock market was in a bull market and the housing market was cooling down, the situation is now changing.
The frenzy of the real estate market, especially the Shenzhen Stock Exchange, which saw the highest increase, even caused concerns among government departments: "The Chrysanthemum Factory, the pride of domestic technology, may flee the Shenzhen Stock Exchange due to the sharp rise in housing prices."
The shift in market focus has led to the stock market not being taken seriously by capital, which is also a natural reason.
Generally speaking, hot money will flow to wherever quick money can be made; in the next few years, the real estate market will remain hot.
Until 2018.
The Shanghai Composite Index in 2018 also hit a super bottom in the following years, with the stock index falling below 2,500 points.
In the following years, the stock index failed to fall below this level, and some local sectors even experienced a bull market that lasted for three or four years.
The market has not changed much and has reached the bottom again. This is one of the reasons why Gu Junhao dared to put down his work and go out traveling.
Now that I've made money and the company is running smoothly, it's time to find an opportunity to relax.
For underground cultural relics, visit Shaanxi Province; for above-ground cultural relics, visit Shanxi Province; Gu Junhao and his companions stayed in Shanxi Province throughout May.
From the internet-famous Pingyao Ancient City, to the Hanging Temple, as well as the tallest and oldest existing wooden pagoda in the country and the majestic Yanmen Pass, there are countless sights to appreciate one by one.
During this period, many netizens who were trading stocks encountered Gu Junhao while traveling to various places, and rumors about Gu Junhao appearing in various places in Shanxi Province circulated on the Internet from time to time.
Nowadays, Gu Junhao has quite a few fans on the entire Internet. Few people outside the circle can recognize him, but those who have been in the stock market in recent years know Gu Junhao to some extent.
After all, Gu Junhao's photo is still hanging on the hottest fund in the current market, so it is not surprising that some people recognize him.
