Chapter 433: Bought at 2600, lost at 3500
"Please contact some real estate developers in the city recently to see if there are any suitable office spaces. If there are, we will buy them for him."
Gu Junhao said to Li Xinyu.
"Okay, is there anything else?" Li Xinyu has also accepted Gu Junhao's idea.
Although I think it is not cost-effective to buy an office building nowadays, it is also a good thing to have an office building belonging to your own company, and the boss is not short of money now.
It's just that the boss's consumption concept changed a little suddenly. Before, he saved as much as possible and invested as much money as possible in the secondary market, but today he suddenly started spending.
"Apart from the office building, the other thing is to increase the year-end bonus by 10% this year. Also, talk to Director Guo about buying a few more luxurious cars. You can decide the details."
For a company, purchasing this luxury car is a reasonable way to avoid taxes, and it is also a symbol of strength. Gu Junhao does not reject this.
"Haha, the boss is so generous. I'll arrange it right away." Li Xinyu said with a smile.
After reviewing the company's capital, Gu Junhao also found that the amount of funds actually controlled by Junshi Capital was actually very terrifying, enough to have a considerable influence in the market.
Junshi No. 2's short position behavior is bound to trigger heated discussions in the A-share market and become the focus of the market.
Although due to the public fund quota limit at the end of November, Gu Junhao often became the target of ridicule among investors in the following two months.
When the market is rising the most, telling investors not to buy is always hated, and investors may not appreciate it.
Especially when the market rebounded to above 3,500 points in January, most investors believed that Gu Junhao had delayed their ability to make money, and they ridiculed him even more fiercely.
But throughout 2017, Gu Junhao can indeed be regarded as a prominent figure, with the large amount of fundraising for Junshi No. 2 at the beginning of the year and the subsequent steady growth in performance.
The photovoltaic industry experienced a major shakeout throughout the year, but Gu Junhao was able to bet on Longji shares when the stock price was low one and a half years in advance, and the profit at its peak was more than four times.
Coupled with the domestic rich list released in November, Gu Junhao's rank soared from being on the list the previous year to over 200 this year. All of this had a huge impact.
At the end of November, when Gu Junhao was at the peak of his popularity, his limit operation really shocked his peers and investors.
When Junshi Price Investment announced the limit, the A-share adjustment in November was almost complete. The sideways trading in December and the sharp rise in January made Gu Junhao, who was at the peak of his popularity, a target of ridicule.
Now, Junshi No. 2 has entered the second month of being shorted, and there will definitely be no change in the net value this month.
When one thing becomes the focus and you don't want to change it, the best way is to create a second focus.
For example, the celebrity scandal that appeared promptly on a certain blog.
If he doesn't want to increase his holdings, Gu Junhao must divert the public's attention. Reducing his holdings online and spending money offline is also a good way to divert attention.
Although most ordinary investors joked that Mr. Gu missed this round of rebound, it is not that no one believes in Gu Junhao's judgment.
Li Ze, the number one fan, believed in Gu Junhao's views very much. When the purchase restrictions were imposed at the end of November, Li Ze was still not too sure about Gu Junhao's judgment.
But when the net value of Junshi No. 2 in January was announced, if Li Ze still didn't understand it, then he would have spent three or four years in the A-share market in vain.
After three or four years, an ordinary investor will have enough knowledge.
As soon as the market opened on February 1, Li Ze sold all of his 500 shares of Longji shares at a price of 37.93 yuan, earning 1.89 million yuan, and also reduced his holdings of Junshi Price Investment shares.
The 500,000 yuan of Junshi Value Investment that was purchased when the net value was 1 is now worth nearly 1.35 million yuan. Through the two long-term investments, Li Ze's investment is about 920,000 yuan.
Li Ze cleared out his holdings in Longji shares and reduced his holdings in Junshi Value Investment by 1 million shares, earning 2.89 million yuan in cash, a profit of 3.52 times, which once again gave Li Ze a large amount of cash.
From a long-term perspective at the lowest point after the stock price stabilized. Considering the current returns, the profits are definitely much higher than those from investment funds.
But Li Ze does not regret it. In addition to supporting his idol, investing in funds can also enrich his investment experience, not to mention that the returns are really not low.
The first time I bought in, I made more than 800,000 yuan in a little over a year by just lying down. This kind of result is rare even among A-shares which rebounded throughout 2017.
On February 2, after reducing his holdings, the Shanghai Composite Index opened lower in the morning, which made Li Ze feel fortunate. Li Ze, who is accustomed to long-term operations, is also accustomed to observing the Shanghai Composite 50 Index.
Li Ze pays close attention to the changes in Junshi Value Investment's positions every quarter. Although there is a certain lag, from a style perspective, Brother T still mainly invests in blue chips throughout the year.
Among the holdings, there are almost no small and medium-sized growth stocks, and even if they are held, the positions will not be large.
In Li Ze's opinion, it is natural for Brother T to be bearish based on the changes in the Shanghai Composite 50 and blue-chip stocks at the end of the month. How could Brother T, who has always been operating in a swing trading mode, not reduce his holdings after these big white horses have surged several times?
In the afternoon, although the three major indexes were driven by sectors represented by steel and coal, the performance of blue-chip stocks that had risen in the previous period, especially the liquor sector, was still very unsatisfactory.
"Stupid media, still so excited about the coal boom, trying to trick the leeks into taking over, haha." Li Ze stared at the trend and laughed.
When these two sectors pull up the market, nothing good ever happens. If the oil sector is added to the mix, then it would be complete.
On Monday, February 5, the coal market continued its bullish trend, with the Shanghai Composite Index closing at 3487.50 points with a gain of 0.73%.
Today is the fourth trading day of limit-down in the Shanghai and Shenzhen stock markets. On the one hand, big players are used to protect large-cap stocks, while on the other hand, small and medium-sized start-ups have suffered extremely severe declines.
As of today, according to Tong Huashun’s statistics, excluding the 700 new stocks listed since 2016, there are more than 2,800 stocks remaining in the market.
Among these more than 2,800 stocks, 1,531 stocks’ closing prices today have fallen below the closing prices on January 27, 2016, accounting for more than half of the total.
On January 27, 2016, the Shanghai Composite Index hit its lowest level since the 2015-2016 stock market crash at 2638.30 points and closed at 2735.56 points.
On February 5, 2018, the Shanghai Composite Index rose 27.48% compared to the closing price of the day and 32.19% compared to the lowest point!
On the one hand, the share prices of blue chips such as Maotai Liquor and Gree have frequently hit new highs. On the other hand, the share prices of more than half of the stocks in the two cities have hit new lows since the stock market crash.
Among them, the most representative one is Leshi.com, once the king of GEM.
In July last year, the fake accountant ran away as expected, leaving behind the classic phrase "I will return next week" to all investors of Leshi.com.
Half a year later, there was no news about the fake accountant, and Leshi.com's restructuring unsurprisingly failed, and it resumed trading on January 24, 2018.
As of today, Leshi.com, which resumed trading for 9 trading days, has closed at the limit down for 9 consecutive days, with the share price closing at 5.95 yuan (high dividend and bonus), and the market value of 16.787 billion yuan.
At its peak, the market value of Lashi.com was as high as 160 billion yuan, but now it has fallen by nearly 90%.
Among the small and medium-sized start-up sectors, the top ten stocks with the largest declines were at 2,638 points, with the lowest decline reaching more than 50%, and the largest decline being nearly 90%.
Although Lashi.com has fallen so much, it is not the worst hit. The two worst hit stocks are Jinya Technology and ST Zhongan.
It seems that these three stocks were delisted around this year?
Speaking of which, 2018 also saw the beginning of the first large-scale delisting of A-shares. With the changes , these junk shell resources are no longer as popular as before.
The small and medium-sized start-up sectors suffered a lot, and the blue-chip stocks in January were not much better. The top ten stocks with the largest declines all fell by more than 20%, and the one with the largest decline was as high as 32.88%.
Of course, compared with the decline of small and medium-sized enterprises, the decline of blue-chip stocks can only be regarded as a major correction, and their positions are still relatively high.
But the problem is that not many A-share investors have the patience to hold on to blue-chip stocks.
Gu Junhao carefully looked at the stocks in this statistical data. Among the blue-chip stocks, many were mistakenly killed, but among the small and medium-sized stocks that fell, there were almost no mistakenly killed. Instead, he saw many stocks that had been delisted in later generations.
The thinking of most investors is still stuck in small and medium-sized warehouses. There are still investors who are happy to buy at the bottom of Leshi.com, and the enthusiasm remains high. This also proves that the current investment thinking of most investors is still in small and medium-sized enterprises.
"Most of the time, huge losses are caused by fantasy. For stocks like Leshi.com and Baofeng Technology, if losses could be stopped in time at the beginning of being trapped, the consequences might be different."
The Shanghai and Shenzhen stock markets truly explained to investors what it means to buy at 2,600 and lose at 3,500.
Although more than half of the stocks in the Shanghai and Shenzhen stock markets have hit new lows since 2638 points, the valuations of these stocks that have fallen sharply are still very high.
A rough statistical data shows that among the stocks that have hit new lows since 2638, the average price-to-earnings ratio of stocks with a drop of more than 10% is around 120 times.
For stocks with a drop of more than 20%, the average price-to-earnings ratio is around 145 times, while for stocks with a drop of more than 50%, the price-to-earnings ratio is more than 200 times.
Price-to-earnings ratios of three, five hundred, or even a thousand times are common.
It has to be said that this wave of adjustments in 2018 is what really paid the price for the crazy bull market at 5178 points. Previously, the decline was only temporarily suppressed because of the national team's rescue policy.
Stocks like these, which have a price-to-earnings ratio of hundreds of times but have no performance or prospects, can only rise in a crazy leveraged bull market like 2015, and it will be a general rise.
When the market diverges and the tide recedes, these stocks will lose their value.
The trend of limit downs for several consecutive trading days and the pullback of blue-chip stocks did not improve much on February 5, the day when the index rebounded.
More than half of the stocks in the market have hit new lows, bringing endless shadows to subsequent transactions.
At this point, investors of Junshi Value Investment Fund, which had been retreating for several consecutive trading days, realized that it might really be time to reduce their holdings.
But this is only the case for a part of investors. Most investors are still immersed in the fantasy of a rebound.
