At the end of October 2007, the golden autumn was glorious.
Mainland investors are still immersed in a jubilant atmosphere. The Shanghai Composite Index has successfully exceeded 5,700 points, and there is no tendency to brake the correction.
Even the grocery shopping aunt who knows nothing about the market or the economy will always ask everyone if the stock has gone up and how much she has earned recently.
Many "experts" even said that the Shanghai Composite Index breaking through 6,000 points this time is just around the corner, and breaking through 7,000 and 8,000 points is not a dream.
Many investors are just like picking up money in a sack, watching the assets in their accounts rise every day.
In this regard, I can only say that the old stock god said "I am afraid when others are crazy", which is one of the wisest sayings in the investment world. Not surprisingly, accidents really come quietly.
The time has just entered November.
at first.
The mainland stock market fell sharply at the opening, and people just thought it was a correction due to the negative impact of the external environment.
Many stocks have all fallen below their limit, and many people still hold out hope of rebounding.
Su Yehao, who had returned to Hong Kong City, immediately saw the article "Notice on Issues Concerning Further Improving Risk Management in the Fund Industry" from the report.
When he discovered that fund companies were required to effectively control sales scale, he knew that a soft landing was unlikely. This was an attempt to proactively puncture the stock market bubble and avoid dragging down economic development.
In fact, since the third week of October, 5S Asset Management has suspended the sale of mainland funds. The reason given is that its management capabilities are temporarily saturated. Old users can redeem assets normally, but cannot continue to subscribe.
Like 5S Asset Management, other fund companies have also received the above notice and have suspended subscriptions. This is obviously to limit the flow of funds into the stock market.
Coupled with the tightening of monetary policy, the current surge in inflation, declining corporate profitability and other major negative factors, a plunge is inevitable.
Checking my phone while having breakfast.
After reading many related articles, Su Yehao sighed and said: "No need to guess, it has plummeted again today. No wonder many people are madly @me on Yinhai Weibo. How can I dare to say anything at this time?"
Jiang Yu sat at the table eating omelette and said calmly:
"Greed is human nature. Human weakness determines that many people are easily blinded by benefits and ignore the huge risks behind stock trading. Haven't you long thought that there is a bubble in the stock market? Why don't you write a short essay to lower the market?
heat?"
"I?"
Su Yehao said speechlessly:
"I sold like crazy and cashed out 300 to 400 billion yuan. What else can I do? There are many people who directly stand up and say that the stock market is going to collapse. Those investors are too hot-headed to listen."
Nangong Tian helped explain:
"Yes, yes, when it comes to investment, it's best not to express any opinions. If investors who enter the market ready to make a profit and run away fail to make money, and those who hold stocks lose money, wouldn't Brother Hao be deceived?
Caught in the middle, both sides are unhappy."
Su Yehao took a bite of the fried egg and said:
"That's right. Giving investment advice is the most troublesome thing. If you are not careful, you will end up being scolded in vain. Now I only care about how big the risk is. If open-end funds are run, do they have enough capital?
Cash flow may cause systemic financial risks, which will worsen the situation for the stock market and the citizens. I will find an appropriate time to support the market, but not now. At least it must fall by half first."
"ah!"
Nangong Tian suddenly shouted, frightening the two children and Su Yehao, who all looked at her.
I saw Nangong Tianhuo standing up in a hurry, saying: "It's over, it may drop by half, so much? Last time I asked my mother to sell the stock, and she said she could wait a little longer, I guess there is still money in the stock market."
Jiang Yu also stood up and said: "Wait for me! I also want to call my father. Ah Hao's crow's mouth is very clever. Since he said he would fall by half, he would at least be cut in half."
"..."
Hearing the words "crow's mouth", Su Yehao said unhappily:
"What a crow's mouth. I am doing objective analysis and scientific judgment. Look at the price-to-earnings ratios of those listed companies. The average is over 70. In addition, there are a bunch of speculators who are crazy about the fire, making the market a mess. It would be strange if there is no problem."
."
This time the bubble is growing all the way under Su Yehao's nose.
When it comes to economic issues, a single move can affect the whole body. It does not mean that suppression can be suppressed. Especially when the whole people are speculating, people become blind and lose their minds.
Even the stamp duty increase in May failed to dampen the market enthusiasm, not to mention that Su Yehao, a businessman without a monetary policy toolbox, has basically done everything he can.
For example, reducing holdings for cash, issuing a series of risk warnings through the company, suspending the sale of new funds, ending the closed period of several private equity funds early, etc.
Many people did not listen to the advice and continued to try to take advantage of the fire. Su Yehao had nothing to do about it.
This is like a group of people gathered around the gambling table, and they were in high spirits and playing enthusiastically. He suddenly came over and overturned the gambling table, saying that it was for their own good.
But in fact, newcomers who want to win money and losers who want to recoup their losses will not thank Su Yehao.
When encountering this kind of thing, even the superiors would not dare to act rashly, and there was no need for him to get involved. Therefore, he tried to help as much as possible out of a sense of responsibility. He was mainly responsible for reducing the risks for himself and 5S Asset Management investors.
Nangong Tian quickly ran back, sat at the dining table and said:
"It's a risk. Her A-share fund fell 4% yesterday and she has chosen to sell it. Unfortunately, the amount to be redeemed is determined based on today's closing price, which totals about 60 million yuan. That is, if it falls sharply today,
I guess I need to thank you for a few more points?”
Su Yehao shook his head and said:
"It's hard to say. In order to avoid panic decline and other risks, some good news may come out today. There are very few stock market crashes that really leave people with nowhere to go. Most of them actually have the opportunity to escape, but it's just out of luck.
, Investors often feel that now is the bottom, and they are being trapped step by step, so it is important to make a prompt decision. I think this time it will fall for a long time. After all, the international market is still holding on, and the bubbles in the mainland and Hong Kong are a bit dangerous."
"That means my mommy sold it right."
Nangong Tian nodded with satisfaction and added:
"If it really falls and she escapes successfully, she will definitely be more satisfied with your good son-in-law. You don't know how many people are trying to find out information about how you invest through her. But my mother doesn't
Silly, I will definitely not push you into a pit of fire. If someone investigates you, it will not sound good if the news spreads."
Su Yehao replied: "It's okay. I rarely interfere in the specific management of the company now. My analysis is different from internal information and is inherently public information."
When the A-share market opened, it was indeed all green.
The Shanghai Composite Index quickly evaporated by three points, and the downward trend still has not eased.
Su Yehao specifically asked about the situation of 5S asset management and learned that from this morning to now, there are more than 10 billion Hong Kong dollars in funds waiting to be redeemed.
As he predicted, the official did publish an article. During the market rise, many institutions fled together, and soon took a sharp turn again...