The Road to Rebirth Finance

Chapter 471 Reincarnation of A-shares

10 month 31 day.

On the closing day of the third quarter, A-shares rebounded for two consecutive trading days, returned to above 2600 points, and successfully recovered 2600 points.

The panic caused by the limit-down in Maotai lasted only one and a half trading days, and it looked more like a farce directed by institutions.

In the three transactions since the daily limit fell on the 29th, although Maotai fluctuated violently, it was still very tenacious and once again rushed to the daily and five-day line.

The monthly closing price of 563 yuan was 29% higher than the limit price of 549.09 yuan on the 2.53th.

That is to say, investors who dropped the limit price on the 29th and bought the bottom below it have all realized profits as of the close of this month.

Although it has not yet recovered to the price at the close of trading on October 10, Maotai's stock price is still very resilient.

It only takes three trading days to close at the lower limit. As Sister Liu said, the so-called investment logic changed and was abandoned by capital.

There are still many funds that prefer Maotai and liquor sectors.

In October 2008, Maotai recorded a single-month decline of 10% in the history of entrepreneurship. Ten years later, in October 30.09, Maotai once again reached the second place in history with a single-month decline of 10%.

After October 2008, Maotai started his rebound and took the lead in getting out of the 10 bear market.

Ten years later, Maotai has once again reached a turning point in its stock price. Is it a coincidence or intentional?

Throughout October, A-share investors experienced panic when the price fell below 2449 at the beginning of the month, and then experienced the ecstasy of two consecutive trading days of gains due to policy support.

At the end of the month, I thought that A-shares, which had escaped the trend of rice stocks, would have a better trend.

But who would have thought that we would experience Mao and Taiwan’s unprecedented one-word limit drop and the impact of the one-word limit drop.

In terms of excitement, the transactions in October this year are definitely ranked high in Big A.

Although the 7.75% decline for the whole month is still not small, the index finally reached above 2600 points.

A long golden needle reserves countless thoughts for the future rebound.

The same is true for the GEM Index, which has been negative for seven consecutive months. The low of 1184.91 points and the closing point of 1275.57 points have left room for the market.

This is the bottom. At least the staged bottom position is a well-known fact. How the market will rebound later is unknown.

But for those who bought the bottom this month and invested at real prices, this is already a big bottom, and those who bought the bottom have already made quite good profits.

Since the day when subscriptions were opened on September 9, Jun real price investment hit the lowest net value of 17 in 2018. Even in October, it still did not fall below this position even during the sharp decline.

In October, the lowest net value of Junshi Price Investment was 2.4005, and the net value performance of Junshi Price Investment announced on the evening of the 31st was: 2.7733!

Compared with the net value on the last trading day at the end of September, the net value of Junshi Price Investment Fund has increased by a terrifying 13.94% in the past month.

Within a month, or half a month, Gu Junhao recovered the fund's full-year decline in 2018 and increased the overall size of the fund to about 230 billion yuan.

This is quite an achievement. How amazing it is can be seen in the fund’s third quarter report released tonight. Today is also the deadline for the disclosure of the fund’s third quarter report.

As of October 10, although the overall size of public funds has reached the 31 trillion yuan mark, the fund differentiation is very serious. There are Yu'e Bao, which has a scale of more than 13 trillion yuan, and several funds that are in the process of liquidation. Struggling around the line.

相比起上个月底611只总体规模不足5000万元的基金数量来说，本月规模小于5000万元的公募基金总数超过了700只，数量上增长了14.57%。

If there are no major changes among these 700 funds, at least half of them will face the fate of liquidation.

So far this year, the only profitable public fund is Jun Shi Price Investment, and Jun Shi Price Investment's profit for the whole year so far is only 4.84%.

2018 can be said to be a difficult year for public funds. If they want to collect management fees while sitting down, the first thing fund managers must do is survive.

The overall size of Jun's real-price investment is nearly 230 billion yuan, which is already a very impressive figure at the moment, and it can already be regarded as a leading fund.

The existence of public funds is so difficult that Gu Junhao feels that Maotai's reaction to this performance explosion is so intense that it is more like a collective move.

Thursday, November 11.

Late autumn has arrived, and the white-collar workers wearing coats are in sharp contrast to the summer short skirts and stockings.

These handsome men and women hurried into the financial building one by one, most of them were employees of Junshi Capital.

"Hey, we won't see these people anymore in a few days." The nearby merchants couldn't help but sigh as they looked at these young people in a hurry.

Junshi Capital, which has purchased its own office building, will collectively relocate to a new office at the end of the year, which is a loss for nearby businesses.

Over the past few years, Junshi Capital's recruitment principle has still been to focus on young people; for this reason, the Financial Building area has also formed a unique scenery.

In addition to going to bars to see handsome guys and beautiful girls, going near the Financial Building is also a good choice. This has formed a consensus among the young people in Beicang.

It is said that the development and changes of this industry can be roughly judged by the appearance of employees. Generally speaking, handsome guys and beautiful women are usually used to push.

When real estate was booming a few years ago, the real estate sales were more beautiful than the others. As for cars, the models from big manufacturers were even more beautiful.

This is especially true in the financial circle. Whichever company has good profits and high welfare benefits will naturally have a better appearance.

In 2018, it is no longer so easy to easily enter Junshi Capital. First of all, in terms of personnel structure, Junshi Capital has tended to be complete.

Ordinary employees no longer need that much. Secondly, the competition brought about by high benefits makes it more and more fierce to get job opportunities at Junshi Capital.

At 8:[-] in the morning, a Cullinan drove into the underground parking lot of the Financial Building. Gu Junhao stepped out of the back seat, entered the elevator, pressed the floor button, and started his new day's work.

The income of both funds in October was very good. Next, there is nothing else to do this year except building a position in liquor.

Correspondingly, work is much easier. There is no need to rush to the company before eight o'clock to have a morning meeting with Xu Jianqing and the other three like last month.

From today on, Gu Junhao may sit in the office and drink coffee, look at various data reports, and then sign, and the day will pass.

As a boss, you have to be like this to be happy.Judging from the timeline, after the policy bottom in 2018, there is still a market bottom. The last two months of this year are still a bottoming market, and the index will not change much.

In terms of individual stocks, most of the strong stocks have actually completed the bottoming process. The trading in the next two months is just a process of washing the market, and there will not be too many variables.

Yesterday, the third quarter report came to an end, and there was a lot of news in the evening. The third quarter trends of institutions, which are one of the focuses of investors, have also been fully released.

Generally speaking, even with the support of policies in the third quarter, institutions are not bullish across the board and have mixed advances and retreats; however, such as the national team, social security funds, pensions, and QFII, etc. have all increased their positions.

In other words, very large institutions have begun to do long positions, which is good news for the market.

In terms of performance, after the official conclusion of the third quarter report, more than [-]% of Big A's annual performance expectations disclosed by the market were over-growth.

Generally speaking, in terms of news last night, apart from the poor performance of public funds, the market as a whole is still biased towards the positive.

With the positive blessing, A-shares continued to rebound on Thursday, although the Shanghai Composite Index still ended the first trading day of November with a false negative line throughout the day.

But a false negative is a false negative after all, and the actual closing is still up. The three major indexes closed up throughout the day on Thursday, which is a very good signal.

You know, there were only three Thursdays in October, and the market fell sharply on two days. The only day that did not plummet was that it also opened with a sharp drop, and finally ended with a real drop.

In the past few months, there has been little upside on Thursday, so this does not seem to be a good reversal signal.

On Friday, the Shanghai and Shenzhen stock markets continued to rebound. The Shanghai Composite Index opened higher and rose 2.70% throughout the day.

This is the fourth consecutive trading day that the two cities have rebounded. In the four trading days, the Shanghai Composite Index has risen by 5.28%, setting a new high since the rebound on October 10.

The accelerating rise in the index coincides with the suspension of IPOs that have been widely used this week. In September, the China Securities Regulatory Commission issued a total of 9 IPO approval documents.

Even during the October crash, IPO approvals were issued as scheduled. However, as of November 11, more than a week later, the China Securities Regulatory Commission had not issued any IPO wholesale approvals.

The sharp rise for four consecutive trading days and the suspension of the IPO once again plunged the market into endless reverie, but the overall trend of the index was not satisfactory.

The white horse stocks that are still adjusting have dragged down the overall trend of the Shanghai Composite Index. Maotai has continued to correct since November 11.

The highest point of the rebound after the limit was also locked at 600 yuan. After that, Maotai's stock price continued to fall for six consecutive trading days, falling as low as 536.80 yuan.Gu
This is a good thing for the Junshi funds that have not yet completed the position. It is expected to open a position of 100 billion yuan. If it can be bought at a lower price, it will naturally be better.

Based on Maotai's market value and share capital, with a purchase volume of 100 billion yuan, there is no need to worry about holding more than 5% of the shares. It is most realistic to pursue more chips at low prices.

In November, it still belonged to the GEM and technology sectors. Ningwang rose amid constant adjustments. By November 11, the stock price reached a high of 12 yuan.

At this price, all losses have been closed since the limit dropped on July 7. The three-month decline was recovered in less than a month. Ning Wang's rebound was unexpectedly strong by the market.

After the violent rebound, the overall market value of Ningwang held by Junshi Group exceeded 88 billion yuan. Another heavyweight stock, China-Singapore Communications, also performed very well this month.

Also as of November 11, the share price of Sino-Singapore Communications A shares has risen to 12 yuan, and the performance of Hong Kong stocks is not bad, closing at 20.20 Hong Kong dollars.

Both AH stocks rebounded by more than 50%, which also provided Junshi Capital with a large amount of profits. Of the total market value of 75 billion yuan, more than 25.8 billion yuan was floating profit.

The continuous rebound of these two stocks has once again pushed Gu Junhao's reputation to a new level. If Tong Huashun is the masterpiece of Gu Junhao's early capital expansion.

Then King Ning and China-Singapore Communications are a new milestone in Gu Junhao's career after becoming famous.

Especially China-Singapore Communications, a company facing a major crisis. When the stock price fell to the bottom and the market was unanimously bearish, Gu Junhao brazenly raised his cards!

Although there is still a long time before the sale is lifted, it is almost impossible for China-Singapore Communications, which has now overcome the difficulties, to return its stock price to Gu Junhao's cost line.

After the sharp drop in October, China News Communications' stock price only touched 14.50 yuan, which is still nearly 13.25% profit margin from its cost line of 10 yuan.

Some institutions preparing to focus on 5G and technology stocks suddenly discovered through analysis that it will be almost impossible to copy Gu Junhao's bottom in the future.

Even the low price of 14.50 yuan is unlikely to appear again. Although China-Singapore Communications still has a disaster in its annual report, it is expected, and the stock price is unlikely to fall to an exaggerated level.

After various analyses, major institutions found that if they want to build a position in the 5G sector, then leaders like China-Singapore Communications cannot be missed.

This feeling is very desperate. If you want to build a position in this sector with good future prospects, you will inevitably have to carry the sedan chair for Gu Junhao.

But putting such a big piece of meat in front of you makes you very greedy.

"What the hell, don't wait for us to build a good position, this kid will announce to reduce the holdings, or directly reduce the holdings in large transactions, it will be a headache."

"I really can't say for sure. This guy is actually pretty ruthless when it comes to trading. There is so much liquor at the end of the year. He can be ruthless enough to clear out his positions. An ordinary fund manager would have to leave some positions no matter what."

"Speaking of liquor, according to rumors, this guy has been bargain hunting again recently. Some people also say that he and Beixiang Capital are the main buyers of Maotai these days. I don't know whether it is true or not."

"Really or not? It doesn't feel like it. Judging from the positioning styles announced in the past two quarters, it is obvious that his bargain hunting strategy is mainly based on pharmaceuticals and technology stocks on the GEM. Liquor is a bit incompatible."

"Who knows? His fund is called Junshi Value Mixed, not Junshi Technology Pioneer. Besides, the cash flow is so large, it's normal to buy some of this and some of that."

"Let someone deal with him. He has made all the money. We have all lost money this year. His public funds are the only ones that have risen. I feel a little unhappy."

In November, the overall performance of the Shanghai and Shenzhen stock markets was relatively stable, with the Shanghai stock market still focusing on adjustments. The monthly line closed down 0.56%, falling below 2600 points again.

The GEM has performed strongly this month, ending its seven-month negative streak with a 4.22% increase. The 5G sector is one of the most eye-catching sectors this month.

The leading company Sino-Singapore Communications surged 17.37% monthly, while Oriental Shares, which had a bleak performance last month, has suddenly emerged this month.

The monthly trading volume of Oriental Shares increased to 20.7 billion yuan, with a monthly increase of 34.52%, pushing the share price to 5.65 yuan at the end of the month.

In the last five trading days, Oriental Shares has broken out of the three consecutive board trend, and the basics of the monster stocks have been revealed since the end of this month.

In November, Gu Junhao did not appear in the trading room much, so the task of building a position in Dongfang Shares once again returned to the hands of traders.

In the past two and a half months, through continuous low buying, Jun Shi Price Investment finally bought enough chips, and the average transaction price was raised to 5.17 yuan.

Next, let’s hand over Oriental shares to the market!
　In today's chapter, I changed the previously banned chapter, which wasted a lot of time.

　　
　
(End of this chapter)