The Road to Rebirth Finance

Chapter 391
It is really surprising that the good news is released after the market closes. At the same time, for those who choose to clear their warehouses before the festival, they are somewhat concerned about gains and losses.

However, for the client group of Junshi Capital, what they are most concerned about after today's market close is not the news. What they are concerned about is Junshi No. [-]'s routine month-end net worth announcement.

Although the three major indexes are in a state of decline throughout the month, it hurts more small and medium-sized start-up stocks. The performance of blue chips, especially first-line blue chips, is still very impressive.

Taking the baijiu sector as an example, among the five baijiu held by Junshi No. 4.67, only Luzhou Liquor had a large decline this month, falling by 0.38% for the whole month, and only Fenjiu Group fell slightly by [-]%.

After the adjustment since the middle of this month, after falling to near the 60-day line and gaining support, the first-line liquor companies have rebounded to a certain extent. The biggest increase is still Gujin Gongjiu, which rose by 6.72% in April as a whole.

The rest of Midea and Qianfeng Lithium, which have not been suspended, also maintained an upward trend this month. After rebounding 42.81% last month, Qianfeng Lithium rebounded again this month by 21.45%, still leading the increase in Junshi No. [-] positions.

After Tianqi Liye announced the transfer plan, Qianfeng Lithium also threw out a transfer plan, with 10 yuan for every 1.5 shares, and 10 shares for every 10 shares. After the first quarterly report, A shares started a crazy high transfer mode.

Small and medium-sized start-up stocks with a slightly higher stock price have announced high-payment transfer plans one after another, resulting in rapid expansion of stocks in the high-payment transfer sector, and the enthusiasm for speculation is very strong.

On the contrary, blue-chip stocks are relatively restrained in this regard. Even if some blue-chip stocks have the expectation of transfer, the proportion will not be very large.

Only one of the 10 supporting warehouse stocks is considered to have fallen in a real sense, and only one stock in Qianfeng Liye has made a profit of more than 1.3 million yuan in a single month.

This also led to the rapid expansion of the overall market value of Junshi from 53 billion yuan last month to more than 62 billion yuan this month by the end of this month.

However, in terms of cash flow, Junshi No. 5 suffered a certain loss this month. After opening the redemption channel last month, more than 72 million yuan of funds were redeemed by customers; even so, Junshi No. [-] still has a total of over [-] billion yuan this month.

The net value also rose rapidly from 4.8768 last month to 5.1539. After ex-rights, the overall increase reached 22.82%, which is further than the previous month's income.

The redemption channel opened at the end of March, in addition to the real capital needs of some customers, the other part of the redemption is actually for the sake of cheapness, so they jumped to the real price investment.

After all, the management fee of Junshi No. 50 is much higher than that of Junshi Price Investment, and the profit share after [-]% makes them even more reluctant.

However, things backfired, and Gu Junhao quickly opened the limit again, which resulted in very limited funds that could go in, and he was very annoyed by this.

Just like stock trading, sometimes repeated horizontal jumps will also bring unnecessary losses.

As for the single-day limit of 5 yuan for Junshi Investment, even if the index drops to 2800 points, Gu Junhao does not plan to increase it again, and the subscription ceiling of 200 million yuan for a fund account also intends to keep it.

The responsibility of public funds should be to serve ordinary people who do not have any investment channels and have some spare money. Fund managers can use their professional knowledge to charge management fees while allowing ordinary people to increase their wealth.

The single-day limit of 5 yuan and the maximum amount of 200 million yuan can already cover many ordinary people, including the middle class. No amount of money should be invested in public funds to compete with ordinary investors, but should go to private equity funds that are more professional and provide better services.

Gu Junhao is unable to change the overall status quo of the industry, but he has always hoped to use his own efforts to change the investment methods of some people; high-net-worth individuals should not seize too many resources from ordinary people.

At 09:30 in the evening, Junshitou also refreshed the latest day's income: 1.2815.

Since the resumption of trading for two months, the performance has been very stable, and the number of days of single-day retracement is only three trading days, which makes other fund holders envious.

But it seems a bit hesitant to chase after it. In the last few trading days of April, Jun Shishi Investment showed signs of retracement, and the overall increase was not large.

I'm afraid that after chasing in, the fund will start to pull back, so buy at a relatively high position.

"This fund is really outrageous. After getting on the car, it will go up in small steps every day. When will a bigger one come back to pick up people? I dare not buy it now."

In the comment area of ​​Junshitou Fund, this comment has the highest number of likes, which to a certain extent reflects the current attitude of Christians towards Junshitou.
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During the May [-]st and three-day holidays, Gu Junhao had no time to go out and play, so he stayed at home and read the report to prepare for the research activities next month; by the way, he made another villain.

After several months of adjusting their work and rest, Gu Junhao and Zhang Yiru's physical condition has been adjusted well, and it's time to work hard for the next generation.

Now that you have decided to have a baby, it is better sooner rather than later. The younger body is in better condition. In terms of risk, the controllability can be higher. If the big size is useless, you can practice a small size.

But when you get older, that's different.

"When are you going to do research next month?" Zhang Yiru, who was sitting next to Gu Junhao watching dramas, suddenly asked.

"It's the middle of the month. There are still some preparations to be done at the beginning of the month. What's the matter? You really don't want to go with me?"

"No, I'll fly over after your work is over, and it will be more suitable for the two of us then."

"That's all right, listen to you, you can ask for a period of leave, let's play for a while this time, when you are pregnant, it will be difficult to go out to play."

"That's right, do you like boys more or girls?"

"It's all the same. Boys should worry less and raise them casually. Girls are cuter, but raising them is too worrying. They are afraid of being bullied. Each has its own advantages."

"Hee hee, that means you prefer girls."

For the first research object, Gu Junhao naturally chose the liquor industry where he built a warehouse this time, and the first stop was Jin Province. The reason is not special. Apart from normal research, Gu Junhao is still more interested in the ancient buildings of Jin Province.

After the research activity was over, Gu Junhao wanted to relax and take a look at the ancient buildings he loved, which was a kind of physical and mental reward for him. In terms of ancient buildings, Jin Province is well-deservedly number one in the country.

For travel, Zhang Yiru was naturally brought along, but Zhang Yiru felt that it was inappropriate to go with the research team, and he was not a regular employee of the company, which would affect Gu Junhao's work status.

Tuesday, July 5.

On the first trading day after the end of the May Day holiday, stimulated by the news, the three major indexes of the Shanghai and Shenzhen stock markets opened higher together today. After a short shock, they began to walk out of the unilateral upward trend.

The increase in the afternoon began to accelerate, and the market once again showed a pattern of general growth. The trading volume has been enlarged to a certain extent compared with that before the holiday. The liquor sector performed exceptionally well today.

The entire liquor sector rose by 4.42%, recovering all the losses since the adjustment on April 4 within one day, showing a very strong performance.

"Haha! Boss, we are going to startle the market by updating the net value of our fund today." Liu Tingting looked at the soaring baijiu stocks full of stocks, and couldn't help but ask Gu Junhao.

"It is estimated that some people will guess the direction of our warehouse building, but it doesn't matter, we have already bought it, so it doesn't matter if we know." Gu Junhao replied with a smile.

Yes, no one thought that the liquor board industry would be the first to rebound in May. Although the overall volume has increased to a certain extent today, it is not high. The Shanghai Composite Index has become less than 2000 billion yuan a day.

However, from 2013 to the present, the liquor sector has not experienced a large-scale hype market, and as the performance gradually begins to recover, it is understandable that market funds in the bear market choose some liquor sectors that are more defensive.

The domestic economy is still in the process of bottoming out. In foreign countries, the subtle changes at the Fed's April meeting have brought uncertainty to the future market.

The industry itself is in the recovery stage, the defense is strong enough, and external factors are all important reasons for the continuous rebound after the baijiu year.

This time, in addition to the five liquor stocks held by Jiancang Junshi No. [-], Junshi Price Investment has added five more. In addition to Yanghe Liquor, which was the first to build a position, it also includes Shede, Jiugui, Laobaigan, and Jinshiyuan Liquor.

Among the 10 support warehouses, apart from Jinshiyuan Liquor, almost all first- and second-tier brands listed in China have been officially unified.

Jinshiyuan Liquor has been listed for a relatively short period of time. It is a liquor stock that was listed in July 2014. It has been less than two years, and its chips are relatively clean. It also rose 7% today, and its share price was reported at 6.45 yuan.

Junshi Capital's position is around 32 yuan, holding 625 million shares. Judging from the first quarterly report, the shareholding ratio can't reach the ranks of the top ten, and with the first quarterly report, Jinshiyuan Liquor also throws out a 10 to 15 share transfer plan.

This is relatively rare in the liquor industry, and the transfer ratio is indeed a bit high. However, it is understandable for the sub-new shares. After the major shareholders are eager to expand their shares, they will cash out part of it after the restricted period ends.

This is always the old routine of A-shares. It is better than Maotai Wine Industry. In the first few years of listing, there was also a small proportion of transfers.

Indeed, as Liu Tingting said, at 09:30 in the evening, when the net value of Jun Real Price Investment refreshed today's net value, the net value rate of 1.3327, and the single-day increase of 3.99% really shocked the Christians.

"I'm going, what the hell? Why did it rise so much today, is this going to speed up?"

"Fuck, I said wait for the callback, but I didn't expect my brother T to start to speed up, don't worry about it, let's talk about it after the shuttle."

"It's an obvious exchange of shares. Today, Cixin and the bank are doing just as well. I don't know what stocks Brother T has bought."

"This is a bit outrageous. I wanted to wait for a bigger callback from him, but I couldn't wait for it. Do you want to buy it?"

"Buy it, what are you afraid of, just make a regular investment every day, I just caught up with the car, and then set a daily fixed investment of 100 yuan, and I have earned a few points so far."

"Damn, 100 yuan is useless, you might as well wait until the day it falls and buy more."

"You treat me as if I don't want to wait, I can't wait, and when it falls, he doesn't fall much."

"Brother T, did you buy baijiu stocks? Today, baijiu has the biggest increase."

"Don't guess, you'll find out in June. In the first quarter, who knew Brother T would buy new shares? You can't guess at all."

"It's the first time I know that buying funds is more profitable than buying stocks. On the first day, I bought 20 yuan. If I knew it earlier, I would have cleared all the stocks and went in!"

"Sooner or later, such a practice will break into the top 10 of this year's public offering fund rankings, and the pressure is now on the public offering fund managers."

"In the fund circle, Brother T is simply an annoying guy. Last year, he overthrew a group of private equity fund managers, and this year he went to public equity to disrupt the situation."

In the following two trading days, the Shanghai Stock Exchange Index continued to attack the 3000 point, but the continued sluggish trading volume made it impossible to achieve a breakthrough even if there were only 7 points on the index.

In terms of all the sectors in the two cities, except for liquor, coal, and steel, there was no major performance. In this way, the transaction came to May 5, Friday, the last trading day of this week.

Affected by the 3000-point pressure level and the sharp drop in Hong Kong stocks, A-shares unsurprisingly fell another 2.82%, and the Shanghai Composite Index fell to 2913.25 points, falling below the daily 60-day line support level.

The increase in the three trading days fell back to the original position, and breaking the 60-day trend also means that all the support positions above the 2900 point on the daily line have been completely broken, and new support needs to be found downward.

In the traditional logic of stock investment, "five poor, six excellent and seven turning over" has a deep imprint in the minds of many investors.

In the market in 2010, 2011 and 2015, the sales in May ran fast, which guaranteed a rare victory for many investors.

However, Gu Junhao didn't think so. Under normal circumstances, Gu Junhao felt that the chance in May would be greater.

After the baptism of the previous year's annual report and the first quarter report, most stocks created a new low in April.

The stocks of listed companies with good annual reports and good quarters have a continuous growth demand, and even some stocks with explosive annual reports have a technical rebound demand after a long-term decline.

In addition, there is a need for some funds to adjust positions and exchange shares. May is generally the month of rebound that Gu Junhao thinks, and he does the same in most cases.

As reflected in specific sectors, in May and June every year, there will almost always be a large sector that rebounds well due to performance or some policy guidance.

As for today's sharp drop, in Gu Junhao's view, it is more like a prelude to a rebound. As far as A-shares have been maintained at around 3000 points all year round, how can there be a rebound without a sharp drop?
(End of this chapter)