The Road to Rebirth Finance

Chapter 384 Different Choices of Large and Small Funds
Dingtai New Materials chose to suspend trading after the first trading day in April. For what reason, Gu Junhao did not know. Maybe the big players in the market had almost collected their chips, or the negotiation had entered a substantive stage.

But no matter what, it is a good thing for Junshitou. Now Dingtai New Materials has not released the 2015 year and this year's quarter, so there is no Junshitou's name among the top ten tradable shareholders.

Before Jun Shishi Investment has released its position in the first quarter, it can be said that it is already at ease.

In fact, Gu Junhao chose the first batch of eight sub-new stocks and Wanan Technology with some particularity. These ten stocks all released their annual reports at the end of April, and the earliest stock also released its annual report on April 4.

This is a good way to avoid Junshitou's frequent appearance in the list of top ten tradable shareholders of new shares during the holding period. As for the list of top ten tradable shareholders after the release of the annual report, who cares?
By that time, these stocks have either been liquidated, or their positions have been greatly reduced. As for whether they will mislead some fan groups who follow Jun to buy at a real price, then Gu Junhao can't care so much.

How can the world be satisfactory, compared to following the buying group, the interests of the fund's investors must be higher priority.

The Shanghai Composite Index narrowly held the 4-point position on April 1, and then released a series of positive news this weekend, both domestically and abroad.

On April 4th, Monday, the Shanghai Composite Index took advantage of the weekend and fluctuated upwards. Finally, the whole day rose by 5%. The index went up to a higher level and reported 1.45 points.

The GEM rose again by 3.36%, which was another day of general gains. Affected by Tesla’s orders exceeding US$[-] billion, today’s auto-related sectors performed brilliantly.

The automotive electronics sector rose by more than 5%, and the hot charging pile sector is still leading the way recently, with the sector as a whole soaring by 6.48%.

As one of the current popular leaders, Wanan Technology, after several consecutive trading days of adjustments, the stock price closed at the daily limit again today, at 24.41 yuan.

Wanan Technology, which has a turnover of 8.46 billion yuan throughout the day, is already the fifth daily limit since its launch, and its stock price has risen extremely strongly.

Wanan Technology, one of the holdings of Junshi Investment, has a market value of 9764 million yuan after today's daily limit, and its profit has reached 62.73%.

At the beginning of the bull market, due to the trading volume, Junshi No. [-] gave up holding Wanan Technology at that time, and the profit did not meet Gu Junhao's expectations.

However, in 2016, at the beginning of March, Junshi Investment invested before the launch of Wanan Technology, and obtained a lot of profit, which can be regarded as making up for the regret of last year.

In addition, due to the trading volume, funds are more inclined to attack the sub-new stock sector that is well-adjusted, active in stocks, and less locked-in. As a result, Jun's real-price investment in the sub-new stock sector has seen a very good overall increase in recent times.

The overall trend of the banking and insurance sectors is also stable and upward. Although the increase is not large, it will not drag down the overall net worth. BYD's stock price closed at 58.97 yuan today, which also has a certain increase.

4月5日晚上09:30，受今日普涨行情影响，君实价投盈利首次达到20%以上，净值率报1.2219。

Since the renaming and resumption of trading on March 3, Junshi Value Mixed Growth (7), under the leadership of fund manager Gu Junhao, has achieved 125700 consecutive trading days of redemption.

This record is enough to make the market pay attention to it, and as of the close of trading on the 5th, the overall size of Junshi Investment was close to 13 billion yuan.

The Shanghai Composite Index is already above the 3050 position, bringing the downward pressure close to the point since January 1. Considering the high level of the index and the overall size of the fund, it is not small.

Therefore, after today’s market closed, Gu Junhao decided to make a second limited subscription for Junshishi Investment. The maximum subscription amount for a single fund account in a single day was reduced from 10 yuan to 5 yuan.

After seeing the fund's announcement, the investors were really confused. They didn't understand why Gu Junhao did this. Is it just letting the money go?

"I'm going, why is the limit again? If we go on, will the subscription channel be closed?"

"Brother T, what kind of operation is this? It has been less than a month since the resumption of trading, and the limit has been exceeded twice. It is simply too individual!"

"Brother T, can't afford it? Don't play public funds if you are afraid that the scale will be too large. Why is 5 a day enough?"

"That's right! Don't play public funds if you can't handle large funds, continue to play your private funds, and strongly demand that the subscription be opened."

"The two upstairs, don't take the rhythm, it's not less than 5. We leeks don't have so much money to buy funds. It's incredible to invest dozens of yuan every day. If you keep the rhythm, Brother T might really shut you down."

"It has been red for 21 consecutive days. It's awesome. The young fund manager is also very individual. Regardless of what the market thinks, just follow your own ideas and support!"

The fund circle also seems confused about Gu Junhao's actions. Ordinary investors may think that Gu Junhao can't handle too much money, but today, no one in the circle holds this idea anymore.

Consecutive appearance among the top ten major listed companies, coupled with Junshi No. [-]'s substantial growth in performance and precise bottom-hunting behavior.

If today, he still holds Gu Junhao's peers who can't operate large funds, then the level is too bad.

Such a fund manager opened the limit again when the fund size just reached around 13 billion yuan, which is really puzzling.

In fact, Gu Junhao is also a little helpless. Jun Shishi took over after the direct acquisition. After the resumption of trading, he cannot enjoy the three-month closed position building period like Xinfa Fund, which leads to daily position adjustments.

This is like the difference between the sub-new stocks that have just been listed and the stocks after the resumption of trading.

The difficulty of opening a position during the closed period must be lower. The overall amount of funds raised is the amount of funds. The amount in the fund account will not change every day.

However, everything has two sides. The new fund is expected to raise as much as it is. For example, if the amount raised is 10 billion, even if it reaches 100 billion on the first day, it can only be distributed to the investors who subscribe.

However, there is no limit to Junshi’s investment in existing funds, which is similar to changing a fund manager. As long as you have the ability, you can eat as much as you raise.

For other fund managers, this may be a good aspect, but for Gu Junhao, this convenience seems rather tasteless.

The market is sluggish, no matter how big you make the scale, the income will not keep up, and investors will still be redeemed in the end, and in the process of redemption, there will inevitably be a large-scale lightening of positions.

Even some stocks that are losing money or continue to be optimistic can only be forced to reduce their positions, which leads to a vicious circle, and eventually returns to the low-scale operation mode.

In contrast, under the condition of ensuring stable profits and controlling the size of the fund to a certain extent, why worry about not raising enough funds before the real value investment bull market comes?
At this time, there are still nearly two years before the value investment bull market after 2019, and during this period, there will be a real bear market trough in 2018.

When the stock market fell to its lowest point in recent years in 2018, it was a good time to expand the size of the fund.

In the two years before this, controlling the scale and maintaining a steady and steady profit style is what Junshi Investment should do.

This is like the initial stage of starting a business, and there is no rush to expand the scale. The best way to operate is to improve performance and word of mouth.

The mid-yang line of the Shanghai Composite Index this Monday did not continue, and the lack of volume led to a oscillating pattern above 3000 points and below 3050 points in the next few trading days.

This Friday, that is, April 4, the Shanghai Composite Index even fell below 8 points. Within four trading days, the Shanghai Composite Index fell from a weekly rise to a drop of 3000%, and at the same time ended the weekly three-day trend.

Today's market is still in terms of banks and sub-new stocks. The banking sector, which has been falling continuously after the meltdown, has returned to valuation, coupled with the expectation of dividends, it is a good place to avoid big funds.

As for the secondary IPO sector, market hot money, hot money and retail investors still adhere to the principle of speculating in new stocks rather than old ones, pushing small and medium-sized innovative secondary stocks one after another.

Two types of funds and two investment methods have led to a clear market. Those with large funds go to banks, insurance and other sectors to avoid risks, and those with small funds go to the new stocks to gamble to see if they can turn bicycles into motorcycles.

Among the 8 sub-new stocks held by Junshi Investment today, only two stocks rose by less than 1%, one of them rose by more than 3%, and the remaining five stocks all rose by more than 5%, showing a very strong performance.

In fact, the most powerful one today is Jiuyuan Yinhai. Jiuyuan Yinhai's stock price rose by more than 9% today, approaching the daily limit, and the stock price has reached 114.95 yuan.

As for the 2800 lots of Jiuyuan Yinhai held by Jun Shishi Investment, its holding cost is only around 70 yuan, and the profit has reached as high as 64%.

Jiuyuan Yinhai, which has risen by more than 60%, has also become the first sub-new stock of Junshi Investment to start reducing its position. Today, Gu Junhao ordered traders to reduce their positions by 800 lots of Jiuyuan Yinhai on the way to the end of the day.

Among the eight sub-new stocks, except for the average increase in Huangshanghuangzhi, the overall profit of the other seven stocks has reached more than 50%.

During this one-month confusing period of building a position, Gu Junhao made good use of the funds in hand, wandering between avoiding the banking sector with large funds and playing new stocks with small funds.

The new village head hasn't cracked down on secondary IPOs yet, so he turned a blind eye to hot money and hot money speculating in new stocks.

However, in the second half of the year, the regulatory style will be different. Taking advantage of the lack of strict supervision, it is not bad to make a fortune and run away.

And just today, after a round of rebound since March 3, the liquor sector has experienced adjustments for two consecutive trading days after briefly peaking on April 1.

At the close of trading today, the overall decline of the liquor sector reached 1.54%. The index broke the daily line on the 5th line and the position of the 10th line, and there are already signs of adjustment.

"Next week, I will start to reduce the position of the sub-new stocks in my hand, and then slowly start to build positions in the liquor sector, which is the 10 stocks I gave you last time. I will study these two sectors on the weekend."

After the review meeting, Gu Junhao said to Liu Tingting that the real time to build a position is coming!

(End of this chapter)