The Road to Rebirth Finance

Chapter 473 Relocation
2018, for investors, is really a year that is difficult to forget and does not want to be recalled.

At the beginning of the year, the Shanghai Composite Index saw Jiulianyang, and we could have guessed that this would be an extraordinary year, but we never expected that we could guess the beginning, but not the end.

Even in a stock market crash year like 2015, investors were happy for at least half a year. The market in 2016 was not good either, but it was not so exaggerated. There were quite a few big rebounds.

In terms of the degree of misery, only 2018 can be compared with 2008. The Shanghai Composite Index fell 65.39% that year, and the index fell by 3440.75 points in one year.

At that time, there was no GEM. . .

On the last trading day, the Shanghai Composite Index closed at 0.44 points with an increase of 2492.90%. The stock index fell as much as 24.59% for the whole year.

The Shenzhen Component Index fell 34.42% this year, from just over 1 points at the beginning of the year to 1 points at the end of the year.

The GEM Index closed at 1250.53 points for the whole year, with a drop of 28.65%. Each of the three major indexes was worse than the other.

The Shanghai and Shenzhen core index fell by more than 16% for the whole year. All 28 Shenwan first-level industries were wiped out. Among the 328 concept sectors, only 2 were in the red.

Among the 28 Shenwan-level sectors, the two sectors with the smallest declines were leisure services and banks; 10.61% and 14.67% respectively.

These two sectors are also the only sectors in the market that have not fallen by more than 20%.

In the entire market, more than 33.5% of stocks closed down for the year, with a median increase or decrease of -13.26%. The total market value for the year shrank by 8 trillion yuan, and the average investor lost more than [-] yuan.

The king of stocks is still Maotai Winery. As the most expensive A-share stock, Maotai Winery has a very strong stock price despite thunderstorms in the third quarter.

The stock price of Maotai Liquor Industry fell from 700 yuan at the beginning of the year to 590.01 yuan at the closing price on the last day of the year, an annual decline of 15.41%, which far outperformed its sector and the broader market.

Without this thunderstorm, this year's Maotai might really be able to close up against the market, at least in December.

In December, Maotai went against the trend and closed up 12%. It has to be said that Maotai's performance is really the anchor of the sector and the market.

This may be one of the reasons why major institutions and the media were so pessimistic after the performance of Maotai and Taiwan exploded in October.

Otherwise, if the stock price cannot be lowered, there will be no way to enter the market at a lower position, and there will be no other way except to take over.

However, except for Maotai, there are only 6 stocks with more than [-] yuan in the A-share market. At the same time, a large number of low-priced stocks began to emerge.

目前股价低于5元的个股有将近一千只，低于2元的都有52只，低于1元的有3只，全市场最便宜的股票目前是0.22元的中弘退。

Including the 5 yuan handling fee, you only need 27 yuan to experience A-share trading. The threshold is extremely low.

Looking at the world, this year is also the worst year for global financial assets in more than 100 years. Among all the stock markets in the world, only the stock markets of Football Kingdom and Asan are rising.

Other markets have only fallen to different degrees.

How miserable the market is, the performance of public funds is the most representative. Due to position restrictions, public funds cannot take short positions like private equity and retail investors, and must maintain high positions every day.

It is this kind of position requirement that limits the performance of public funds. Coupled with the frequent occurrence of black swan events throughout the year, public funds suffer from failures from time to time.

Throughout the year, excluding equity funds with abnormal net values, those established less than a year ago, and those that have been delisted within the year, the top-ranked active equity fund is still Junshi Value Mix, with a return of 5.28% for the year.

受12月大盘以及个股的影响，君实价投基金净值也从11月份的2.8925回撤至12月28日收盘之后的2.7942。

Compared with the net value of 10 at the end of October, it increased by less than 2.7733%; this is already the best-performing public fund in the market.

After Jun’s real-price investment, No. 2 on the fund’s annual return list had an annual return of -4.34%!

There are countless funds that have been delisted, and as many as 17 funds have been cut in half in size during the year. The top funds have shrunk very seriously.

The overall income of public funds has also hit a new low in the past seven years. If it weren't for Junshijia, a stock-oriented fund with positive income.

Then, in the entire market, no fund will have positive returns, and it can be said that the entire army will be wiped out!

The performance of Jun Real Price Investment throughout the year has saved the last bit of dignity for its peers in public funds; of course, these people may not care.

But for industry associations, it is much better to have a fund with positive returns throughout the year than none at all, and there are also certain highlights in publicity.

To be honest, I didn’t expect that the public fund’s championship return in 2018 was only a pitiful 5.28%. To be honest, this championship is somewhat watery.

Until mid-September, the net value of the fund invested by Jun Shi Price was in a state of decline. After opening subscriptions and replenishing liquidity, the fund achieved full-year profits through a big reversal in October.

Prior to this, Junshi Price Investment relied on the annual limit to control the overall fund to a smaller scale, and coupled with the minimum standard position operation mode, it was able to control the extent of losses.

Later, by liberalizing subscriptions, the overall size of the fund was enlarged, and a large amount of new funds entered the account, achieving the effect of doubling the position.

After that, the market ushered in a big rebound in October. During the rebound, Junshi's stock selection strategy was very excellent, and it achieved the ultimate profit ratio that month.

To put it simply, it is like a retail investor who transfers most of his funds out of his securities account in a bear market. Although the position looks high, the overall loss is within a controllable range.

When the time is right, you can then transfer funds to increase your position in large amounts, turning losses into profits in one fell swoop.

Gu Junhao used quotas to keep potential funds out of the fund, and then released subscriptions when necessary, adding positions in one fell swoop to secure victory.

This method is very shameless, and among the current public funds, only Gu Junhao can achieve such an effect and can maximize the effect.

Even if other fund managers wanted to use this method, they couldn't do it because they didn't have Gu Junhao's charisma.

In addition to its own outstanding performance in recent years, this appeal is inseparable from Junshi No. [-]’s stable performance throughout the year.

Before September, Gu Junhao would rather give up the profit management fee and maintain a low position or even a short position in Junshi No. [-] for a long time, which reduced a lot of losses for customers.

From late September to the end of the year, Junshi's bargain hunting was even more amazing, and the performance of Junshi No. [-] was also very outstanding.

Throughout the year, Junshi No. 1.8353 dominated the market with a net worth of 21.99 and a yield of [-]%, which attracted people's attention.

It is also the stable performance of Junshi No. [-] throughout the year that has stabilized Gu Junhao's basic market. Large investors trust it, and small investors have boosted its popularity when fund returns rise.

Not all fund managers can have this advantage in the combination of private equity funds + public funds, even if there is no shortage of funds and popularity.

As long as the rate of return remains stable, Gu Junhao's advantage will be maintained.

It's a shameless way, but it's also very effective.

At the end of another year, Junshi No. 513.88, whose total scale has reached [-] billion yuan, is about to open subscription and redemption channels again.Nowadays, the opening of subscription and redemption channels for Junshi No. [-] at the end of each year is a major event in Beicang District. Countless wealthy people rush to the financial building from all directions, waving their checks.

But this year, time has moved on a bit, and we have to change places.

Because Junshi Capital is about to move to a new office building as a whole, in its fifth year of business, Junshi Capital will officially enter its own office building to work.

The soft decoration of Junshi Building has been completed, and employees have begun to move there one after another since mid-December.

January 2019, 1, New Year's Day.

The 16-story new office building located along Changjiang Road has been renovated for more than half a year. The four characters "Junshi Capital" on the top of the building shine brightly in the winter sunshine.

The interior of the building does not look like a wealthy financial company, but rather resembles the style of an Internet company. It is full of technology and has a youthful atmosphere.

Dedicated staff restaurants, leisure areas, gyms and other facilities are all available.

However, considering that the company's boss is less than 27 years old, and the company's overall youth, the media and big bosses from all parties who came after hearing the news understood.

Today is the day when Junshi Capital officially moves into the new office building. The local chamber of commerce jointly held a charity banquet with Junshi Capital.

More than a dozen media came from all over the country after hearing the news, and there were also many colleagues in the industry, and some big bosses sent their blessings on the online media.

It can be said that it is quite impressive.

Even though it is still a relatively ostracized individual in the industry, Junshi Capital's current overall management scale of nearly [-] billion has forced some peers to look up to them.

I can't stand it, so I can only keep it in my heart.

A black Cullinan parked steadily in front of the Junshi Capital Building. Gu Junhao and Zhang Yiru got out of the car first, followed closely by Zhang Mingde and Qin Ruolan, who came out with Xiao Gu in their arms.

Looking at the magnificent and brand-new Junshi Building, Zhang Mingde and his wife were speechless for a moment.

The two of them are quite proud of their self-made son-in-law, but no matter how much news they have read before, they have heard that their son-in-law has a lot of cash.

It's not as shocking as seeing a tall building on site. Even if Yongcheng is not a first-tier city, it is still a top-notch second-tier city.

Although housing prices have not skyrocketed like in some places in recent years, buying such a 16-story building still requires a lot of strength.

For ordinary people, a house is always the most intuitive way to measure strength and wealth.

While other young people of the same age are still struggling for a house, my son-in-law is already able to buy a building.

Well, I heard it’s still full price, that’s how arrogant it is!

After seeing this office building, Qin Ruolan felt proud in her heart. They all said that having such an outstanding son-in-law was enough to satisfy her.

"Dad, Mom; let's go in." Gu Junhao said to Zhang Mingde and his wife who were in a daze.

Wealth does not return to its hometown, just like traveling at night in brocade. Although Gu Junhao did not show off in a big way, he was still very happy to invite his relatives to visit his own office building and enjoy the praise of his elders.

Zhang Mingde and his wife are actually no less important to Gu Junhao than his own parents.

When they first dated Zhang Yiru, neither of them expressed excessive doubts about Gu Junhao who did not have a serious job, and the tolerance was very high.

In the process of starting a business later, Zhang Mingde also gave a lot of support. As an intellectual, he had no financial support.

But in terms of personal connections, Guo Yuanwei, the financial officer who recommended Gu Junhao, has now become Gu Junhao's right-hand man.

What's more, Zhang Mingde also served as the legal representative of Junshi Capital in the early stage. Everyone knows this legal person position, and if he doesn't do it well, he will become the scapegoat.

If something happened to the company, Gu Junhao, the actual controller, might not have a big problem, but Zhang Mingde, a legal person, would definitely be unlucky, at least his job as a teacher would definitely be lost.

Were you interested in the 2% shares given by Gu Junhao at that time?No; the 2% equity of Junshi Capital at that time was not as dazzling as it is now.

For Zhang Mingde, the income brought by that little share is almost dispensable, let alone holding it on behalf of his daughter.

The reason why Zhang Mingde is willing to do this is simply to use his career to keep his daughter and son-in-law, and he will be responsible for anything that happens.

Poor parents in the world~

As soon as the Cullinan stopped, it was recognized by the media gathered downstairs. If it were in Beicang, Gu Junhao's Cullinan would be as famous as the 88888 Phantom.

The photographers pressed the shutter of their cameras frantically; of course, the main ones who captured the photos were Gu Junhao and his wife.

During the capture process, it was inevitable to capture Xiao Xiao Gu, who was making his first public appearance, but these pictures would undergo some processing later.

Photos of children must be coded. This is almost a rule in the entire industry. What's more, these media and public relations departments have already warned them in advance.

Xiao Gu, who was only two years old, was being held by his grandma. His eyes were wandering around, looking a little nervous, but not afraid.

After taking care of the reporters waiting downstairs, Gu Junhao took Zhang Yiru's hand and led his father-in-law and mother-in-law into the office building.

Arriving at the floor with the most employees and meeting Gu Junhao's family, everyone stood up to greet them regardless of their position or age.

"Hello, Mr. Gu."

"Hello, lady boss."

"Hello, uncle and aunt."

The employees had no complaints about being asked to work overtime today. They were given three times the salary plus red envelopes, and they came to the company to show off and support the scene. They didn't need to do any specific work, so why not do it?
After all, Zhang Mingde and his wife are teachers with many years of teaching experience. Faced with such a scene, they will not appear embarrassed and respond generously.

Xiao Xiao Gu was also babbling in Qin Ruolan's arms. It was the first time he saw so many people and he seemed a little excited.

On New Year's Day in 2015, Gu Junhao and Zhang Yiru officially got engaged. After that, the market started a five-month surge.

Three years later, on New Year's Day 2019, Gu Junhao led his family to officially enter his own office building.

What will happen to the stock market in 2019?
(End of this chapter)