Chapter 436: In the new year, you have to work hard too!
The Shanghai Composite Index has been falling for ten trading days, starting from January 29th to February 9th.
The index fell from a high of 3587.03 points to 3129.85 points at the close of February 9, with a low of 3062.74 points.
In two weeks, the market fell by more than 450 points, nearly 15%, and more than 100 stocks hit the daily limit, which is completely at the level of a stock market crash.
Especially in the week from February 5 to February 9, leading stocks in this round of rise such as Zhongguo Ping An, Maotai Liquor, Gree Group, and Industrial and Commercial Bank of China broke through and fell one after another.
This week's market can be regarded as a black week in the true sense. The only consolation is that the small and medium-sized growth sectors seem to have shown signs of stabilization.
The ChiNext Index has also fallen by more than 12% since January 29, but it performed relatively well in the last two trading days of this week, outperforming the main board.
The technology sector in particular has been relatively resilient in the last two trading days.
Relatively speaking, the rebound led by large-scale themes is relatively more lasting and much more sustainable.
At home on the weekend, Gu Junhao flipped through the weekly report in his hand and couldn't help thinking: "After the New Year, the market situation may depend on the Growth Enterprise Market. Speaking of which, the commander-in-chief is quite funny."
However, the first round of rebound should only last for one or two months at most, and it should not last very long.
In most cases, a rebound in the usual sense is initiated by hot money with a keen sense of smell. Hot money creates themes and concepts to earn the first wave of profits.
Afterwards, if they find that this subject matter has great potential, then institutions will follow up, and then clean up the market, lift the sedan chair, and sell the goods.
The rebound routine of large-scale themes is basically: hot money discovers themes and enters the market to push up prices; institutions follow up and increase their holdings, and listed companies release good news.
In addition, there are various favorable analyses by securities analysts and media propaganda.
Oscillation to clean the market, lifting each other's sedan chair, pulling up the price, and then selling at high levels, this series of processes will involve retail investors.
This process may take one month, half a year, or one or two years, but it will not exceed two years at most. Looking at the A-shares, no matter what kind of super market situation it is, it rarely lasts more than two years.
The only exception is probably liquor, which has a period of rapid growth of about three years. No matter what other sectors or how good the industry is, it is impossible to exceed two years.
This is true for photovoltaics, new energy vehicles, and the bull market. Two years is the longest period.
Therefore, investors of some investment funds must be extremely cautious when it comes to funds with a closed period of more than three years.
After three years, the sector's market has ended and you may lose all the money you earned. What's the point of playing?
In the living room, Gu Junhao sat on the sofa, reading the weekly report attentively. Next to him sat Zhang Yiru, who was playing with her mobile phone while taking care of Gu Yangui, who was almost seven months old and sitting in the stroller.
Little Gu can't speak yet, and he makes babbling sounds from time to time.
The three of them did not disturb each other, but it was very warm. Qin Ruolan passed by the living room and saw this scene, and couldn't help laughing.
The mother-in-law usually becomes more and more satisfied with her son-in-law, and Qin Ruolan is no exception. How many sons-in-law can have a wealth that makes it onto the national rich list?
The most important thing is that this son-in-law has a good distinction between work and life. Although he is getting busier and busier, he will also deal with some work matters after returning home.
But I will never bring the mess at work back home. Socializing is inevitable, but my personal style remains the same as always.
In addition, as long as he is not socializing or going on a business trip, he will definitely eat at home in the evening and basically does not come home late.
…
February 12th, Monday, the 27th day of the twelfth lunar month.
Only one-third of Junshi Capital's employees are still working, and the rest have already gone on holiday early.
There are only three trading days left until New Year's Eve, and except for Wang Ruoyu, all the trading teams of the proprietary trading desk and Junshi No. 2 have already gone on holiday.
Xu Jianqing hasn't been back to his hometown for a long time. Currently, his proprietary trading account does not have any positions except for some bottom positions in Longi Shares and NVIDIA.
Such an opportunity is rare, so I just let him go back to his hometown early to celebrate the New Year.
Within a few years after graduation, I bought a house and a car in a developed city in the east, and got a job with an annual salary of over one million yuan. In any case, I could be considered to have returned home in glory.
As for Wang Ruoyu, Gu Junhao originally wanted him to go home early to celebrate the New Year, but after hearing that Junshi Value Investment was investing in technology stocks, this kid also wanted to try his hand.
So, these days Wang Ruoyu returned to Trading Room No. 1 and acted as a trader, trying out technology stocks with everyone else to see if he could add some technology stock positions in Junshi No. 2 after the new year.
Gu Junhao was too lazy to care about him. It was a good thing for his subordinates to be ambitious. Anyway, his home was nearby, so it would be okay for him to rush back before the New Year’s Eve dinner.
After last week's panic plunge, the Shanghai and Shenzhen stock markets stabilized a lot in the last three trading days before the Spring Festival.
Over the weekend, the CSRC did not issue any IPO approval documents. Although it was not stated publicly, it can be regarded as a suspension of IPOs, which is indeed a good thing for the secondary market.
However, there is a big company that is going to be listed later, that is Foxconn Industrial Internet. This should be considered a relatively large IPO project in the first half of the year. In addition, Ningwang will also be listed this year.
BYD Junshi Price Investment has already cleared its positions, and the next step is to wait for Ningwang to go public. This is the future Maotai Liquor Industry of the GEM. If Ningwang rises, the GEM will rise; if Ningwang falls, the GEM will fall.
Judging from the IPO details, Ningwang should be listed around June or July this year. By that time, Junshi No. 2 can basically start to slowly restore its positions.
The China Securities Regulatory Commission did not issue IPO approval documents last week. New stocks have seen a collective climax since Monday, with the popular leader opening at the daily limit. The second most popular stock that opened on Friday also followed a daily limit trend today.
Under this sentiment, high-ranking new stocks rebounded collectively, leading to a rebound in a series of theme stocks. Foxconn Industrial Internet was aiming for an IPO, and its related general stocks also opened with a flat board.
The collective climax of theme stocks brought a certain amount of popularity to the market. In addition, blue-chip stocks also stopped falling collectively today, resulting in a relatively good market trend on Monday.
The Shanghai Composite Index rose 0.78% throughout the day, the ChiNext Index rose more than 3%, and the number of stocks that hit the daily limit began to increase significantly today.
However, the trading volume of the Shanghai and Shenzhen stock markets has decreased significantly compared with the previous trading day. The Shanghai Composite Index has shrunk by more than 100 billion, and the trading volume has dropped to 170 billion yuan.
In the two trading days that followed, the two markets continued to rebound with reduced volume. Although the last three days of the previous quarter seemed to have rebounded vigorously, they were actually relatively quiet.
On the last day of the ChiNext on February 14, the total trading volume was only 35.2 billion yuan. This trading volume has returned to the level of 2013 or even earlier.
In addition to the Spring Festival effect, it is also enough to show to what extent the market sentiment is now depressed.
A round of stock market crash caused investors to suffer heavy losses and basically lost the desire to buy at the bottom.
There are only a few days left until the Spring Festival. If the market falls further, we won’t be able to celebrate this New Year.
A round of stock market crash-like plunge has brought Junshi No. 2, which was shorted last month, back into the investors' sights. Those people who previously ridiculed Gu Junhao for missing out on the opportunity have now started to praise him again.
So what if it rises by a few hundred points? It will fall away in just a few days, and all the gains in recent months will also be wiped out.
The net value of Junshi Price Investment, which was subject to a limit, began to stabilize on February 8 after retreating for ten consecutive trading days since January 29, and its scale has also dropped to 9 billion yuan.
After a round of stock market crash, Gu Junhao's foresight once again made him a legend. After the net value of Junshi Value Investment rebounded on February 8, a small amount of funds began to flow back.
There are more and more posts in the comment section asking when the subscription limit will be lifted, and Brother T’s awesome flattering posts have finally flooded the fund comment section again.
At 3:00 p.m. on February 14, 2018, the Shanghai Composite Index, which rebounded 2.21% in three trading days, closed at 3199.16 points.
The ChiNext Index closed at 1646.77 points, up 3.41% in three days. The Shanghai and Shenzhen stock markets thus ended the last trading day before the Spring Festival.
Under Liu Ting's command, the traders cleaned up the trading room and finished their work before the New Year; after turning off the power, Liu Tingting locked the trading room.
Walking out of the trading room and looking at the empty public office area, Liu Tingting shook her head. This is her fifth year at Junshi Capital.
In fact, the official working time is less than four full years. During these three years, the boss has protected himself very well.
There are no messy etiquette in the workplace, nor the chaos in the financial circle as rumored, and it provides a sufficient environment for growth.
Starting as a trader with no work experience , he now works as an assistant to a public fund manager, fully responsible for the daily affairs of the fund.
This is simply impossible in other investment companies; it is also simply impossible in most industries. Seniority-based promotion is a universal practice no matter where you are.
No matter how lazy a person is, for those who have no pursuit of work, if they stay in the world of fame and fortune for a long time, they will more or less have some desires of their own.
Liu Tingting is no exception. She can earn more money and make some progress in her career, so why not do it?
In Liu Tingting's mind, Gu Junhao should be the best boss. Apart from being more efficient at work, he never acts like a boss in private, whether to senior executives or ordinary employees.
Although he can be quite strict sometimes and will criticize you mercilessly and with a sharp tongue if you do something wrong, he always sticks to the facts and will never bring it up again if you have corrected them afterwards.
Who wouldn’t love such a boss? Perhaps this is the legendary noble person in the workplace.
"Another year has passed." Liu Tingting murmured to herself: "In the new year, you have to work hard too."
