Chapter 186 [Continue to fill the warehouse (33/73)]
Li Mingyang went to the Tiansheng Value Growth Hybrid Fund Management Department to handle matters ordered by the BOSS, while Lu Ming came to the trading room. The fund suddenly increased by more than 30 billion, and he had to get in as soon as possible, otherwise the net value income would be affected.
It is worth mentioning that although Lu Ming is the nominal manager of Tiansheng Value Growth Hybrid Fund, Li Mingyang is doing the trading and management most of the time now. Although he does not have the position of nominal fund manager, most of the time he is the senior manager.
Li, the assistant, is in charge and is already the de facto fund manager.
Lu Ming can only be named as the manager of Tiansheng Value Growth Hybrid Fund for a long time. His name and this fund are already tied together in a sense. It has become a kind of belief. Investors are blind and superstitious.
As long as Lu Ming's name is not in the position of fund manager, believe it or not, there will be a massive redemption wave.
In the minds of the majority of Christians, the reason Tiansheng Enchantress is a monster is because of Lu Ming. Without him, she would be just an ordinary chicken. This has formed an anchoring mentality in the minds of Christians.
But it doesn’t matter, it’s just a name, so just hang it. The other five closed funds with flexible allocation also have the name of investment consultant.
…
Trading room.
With less than ten minutes left before the collective bidding time, Lu Ming scanned the major markets and glanced at his company Tiansheng Holdings.
The annual report that exceeded expectations was released at the close of last Friday. Investors thought that there was going to be a big rise yesterday on Monday, but the result was that it went against the expectations of investors. Instead of rising, it adjusted slightly.
Tiansheng Holdings is the ballast stone of institutional stocks and securities companies. Its special attributes are destined not to rise indiscriminately. Now its desire to rise is being strongly suppressed by institutions.
The current circulation is still too small, and institutions have strong control capabilities. When the ban on private placement of shares is lifted in April and more than double the circulation is released, the intensity of control will be relatively reduced.
Lu Ming glanced at the top ten holdings of the fund. Zhongguo Construction, which had 10% of its full holdings, was no longer there. It had been sold out near the high point at the end of November last year, and it took almost half a year to nearly double the profit.
"Haitian An's Mao Wulu" is still fully occupied. These six stocks currently account for 70% of the fund's total stock positions. They have already exceeded the full position limit. The reason is that Lu Ming did not move a share and these stocks continued to hit higher prices.
The high floating profit resulted in a premium in the market value of its positions as a proportion of the fund's positions.
After the fund's position was full, because the premium exceeded the position ceiling, he could not sell but could not continue to add to the position. He could only reduce the position to less than 10% before adding to the position. Lu Ming chose to lie still.
This is the "Six Meridians Divine Sword", the ballast stone of Tiansheng Enchantress. They will not easily move their positions until the market collapses completely.
As the collective bidding ended and the continuous bidding began at 9:30, Lu Ming immediately issued the first order of the day: "Open a position in Fenjiu and add a position in Yanghe shares."
In the morning, let’s have two bottles of wine to calm down and refresh ourselves...
I have more than 30 billion in my hands, but the current trading volume of these tickets is not large, so I can only slowly attract funds, otherwise the limit will be raised every minute to allow other funds to carry the sedan chair.
The secondary market obviously cannot meet Lu Ming's demand for opening a position today, but it doesn't matter. After the market closes at 15:00, he will continue buying through the bulk trading channel.
While traders were executing trading orders, Lu Ming continued to issue new orders: "Haier Home, Gerry Electric, and Magnesium Group continued to increase their positions, opening positions in Zhongguo Shenhua, Muyuan Shares, Zhongguo Taibao, and Jingdong
Fang, Heile Cement, Pien Tsai Huang, Changchun High-tech, Zhifei Biotechnology, oh, and Yili Shares, Aier Ophthalmology continue to add positions."
I counted 15 votes in one go, all of which were blue-chip with big weights, but it wasn’t enough. Just these 15 votes and 32 billion won’t be enough to finish them today.
Without exception, these 15 stocks are all constituent stocks in the "Tiansheng 150" investment portfolio. Lu Ming is now selecting and adding positions from "Tiansheng 150" because Big A does not have a better return on investment than these 150 constituent stocks.
It is a fund of Tiansheng Value Growth Mix’s size and rate.
Lu Ming glanced at the market and saw Huiding Technology, a stock in the semiconductor sector.
This ticket is a new stock, and it is also a company invested by Tiansheng Capital in the primary market, holding 10% of the equity. The company was listed last year and exceeded the 19-digit daily limit. The stock price soared to a maximum of 178 yuan, with a cumulative increase of +664
%, then after the market opened, dark clouds covered the market and it fell to the limit, and then it fell all the way. The stock price fell to 96 yuan now, which is basically cut in half from the high point.
One share of Tiansheng Capital has not moved. It's not that Lu Ming doesn't want to move, but that he can't move. Otherwise, this wave of cuts will definitely be a big T. However, this round of cuts is destined to be unavoidable, because he invests in the primary market and as a major shareholder,
The lock-in period is three years from the first day of listing.
However, Tiansheng Capital’s low-cost floor price of 17.26 yuan is still profitable even if it falls below the issue price in the secondary market. This is a cost price that investors in the secondary market will never be able to obtain.
Even if it is cut in half, Tiansheng Capital’s investment in Huiding Technology still has a floating profit of +456.2%. This investment is expected to give Tiansheng Capital a return on investment of more than 20 times in 2O20, and it will basically reach its peak in 2O20.
, the ban had been lifted by then, and it was just in time to cash out all profits near the top.
At this moment, Lu Ming glanced at the Huiding Technology ticket and ignored it. This ticket was now made up of IPO offline subscription funds that were being sold to cash in profits. Now it was last year when the ban on new funds was lifted.
Although the ban has been cut in half from the high point, for new funds, there is still more than 3 times the floating profit. Selling is a real profit.
Lu Ming has no intention of opening a position on this ticket. It will trade sideways for a year. After that, it will rise a little and then fall for another year. It will not really take off until it hits the huge trend of semiconductors. Now let Tiansheng's value grow and buy mixed.
What does it do?
It is one thing to do venture capital in the primary market with a floor price and a sales restriction period. Timing of investment in the secondary market is the key. This ticket will not be touched in the next two years.
…
When the market opened in the afternoon, Lu Ming finally confirmed that he had selected the investment targets he was interested in. It took a lot of effort to select the targets, because he had to take into account the issue of raising cards, otherwise he would accidentally trigger a third raising of cards.
Most of the constituent stocks of Tiansheng 150 already hold more than 10% of the shares, and some are about to reach the water mark of three listings. Although Tiansheng Value Growth Mix has different subordinate institutions, they are all acting in concert. To put it bluntly,
One point is that all the shares held are voted by Lu Ming or Tiansheng Capital, which means they are acting in concert.
At 13:26, Lu Ming issued another trading order: "Buy Zhaoshang Bank, Ningbo Bank, and Ping'an Bank."
There are so many bank stocks in Big A, and Lu Ming only allocates these three, because bank stocks are really the only ones that can be played. Although you won't lose money by playing with other stocks, you won't lose much, but don't think about it.
Having a huge return on investment is a lonely game, and may even underperform inflation.
For Lu Ming, not making money is a huge loss, because time cost is the biggest loss.
Among bank stocks, Bank of Ningbo is Lu Ming's favorite. There is no way this bank can have the lowest non-performing loan ratio among all listed banks. It also has the highest provision ratio and its market capitalization is not high among bank stocks.
Excellent fundamentals make Ningbo Bank the only bank stock in Big A that has the potential to double in one year and ten times in five years.
Lu Ming continued to issue instructions: "Zhongguo Zhongwu, Hikvision, Wanghua Chemical, Baogang Co., Ltd., Weichai Power, Beifang Huachuang, Ganfeng Lithium, Luoyang Molybdenum, continue to raise funds to buy!"
The traders who were assigned trading orders on the trading floor followed the quotes given by Lu Ming and strictly implemented their positions.
Today, positions were added or opened in 26 stocks. Tiansheng Value Growth Mix’s current holdings of constituent stocks have also reached 37, and the positions of the top ten stocks have been reduced to less than 80%.
Relatively speaking, it has become more dispersed than before.
The 26 constituent stocks operated today did not have many transactions in the secondary market. The amount of funds exceeds 30 billion. This is not a small amount. The key lies in the declaration and completion of large transactions.
