In the afternoon, the shareholders’ meeting entered into a question-and-answer session.
The first person qualified to ask a question was an analyst sent by an institutional shareholder: "Good afternoon Mr. Lu, I am an analyst from Guanghui Fund. It is said that your first investment in the primary market was Pinduo
Duoduo, no one was optimistic about it at that time, but Pinduoduo’s growth rate surprised and even shocked the capital market. Does this mean that the e-commerce field will usher in a new reshuffle pattern in the future? According to Tiansheng
150 investment portfolio, you don’t seem to have bought Alibaba or Tengxun stocks.”
Lu Ming: "The Tiansheng 150 portfolio matrix allocates investment targets listed on the domestic market. Of course you can't see it. How do you know that I didn't buy Tengxun and Alibaba's stocks? Our overseas investment sector, okay, let me reveal a little bit of information
Here you go, last year we bought Alibaba and Tencent stocks, one cost 62 US dollars and the other cost 102 Hong Kong dollars. So far, the income is not bad. These two stocks have brought us at least three times the cumulative income."
When everyone heard this, they exclaimed in their hearts that Alibaba’s cost was only 62 US dollars. The current stock price has risen to 115 US dollars, a cumulative increase of +86%. What impressed everyone most was that 62 US dollars was almost the floor price.
The actual income is more than three times, so don’t think about it. Lu Ming must have eaten the long position and the short position and also made a big T to create three times the excess income. Ali and Teng Xun both had a relatively large killing last year.
fall.
The external market and Hong Kong stocks can be shorted.
Brother 8000, a retail investor who attended the meeting, sighed in a low voice: "Nice! The low of Tengxun's stock price of 104.5 Hong Kong dollars was set at the end of 2014. The cost of holding Tiansheng was actually only 102 Hong Kong dollars. Institutions did T takeaway short selling. The most
fatal."
A friend next to him sighed: "He is definitely a top operator in the contemporary capital market. Not only is he awesome at home, but he is also awesome at away games in the peripheral markets where there are so many strong players."
No wonder the annual report disclosure shows that overseas investment income is so exaggerated.
Lu Ming continued to answer: "I don't care whether the e-commerce landscape will be reshuffled because of Pinduoduo. I'll embrace Alibaba's Pinduoduo. Oh, by the way, let me reveal it again. Jingdong is in front, Amazon
Later, tell me how to lose? I can win no matter what, right?"
"Haha~"
All the shareholders in the audience were speechless when they heard Lu Ming's teasing tone. The audience burst into laughter.
Brother Yi, is this wave in the atmosphere?
Even Amazon has not been spared. Amazon has probably doubled its revenue. It is definitely in the atmosphere.
Lao Xiao couldn't help but said: "Niu, this is the unparalleled advantage of big funds. If I am optimistic about the e-commerce field, I will arrange for companies with leading qualities to directly invest in the entire track. If I start working hard, I will make a lot of money, but I can't get up."
If I bought Alibaba and Jingdong, I would still make a profit, and then I would invest in Amazon to take advantage of the international market."
Lu Ming smiled along with all the shareholders and finally added: "Investing in Pinduoduo may allow us to make up for missing Ali in the primary market. There is nothing we can do about it. I am still playing soy sauce in the early growth stage of Ali, haha.
"
Everyone burst into laughter again.
Lu Ming: "We invested in Bytedance based on the same logic. It may allow us to make up for missing out on the early growth dividends of Tengxun in the primary market. Similarly, we also bought shares of Tengxun and allocated shares in Facebook."
of stocks.”
Everyone has to admire Lu Ming's investment skills. Whether it is the primary market or the secondary market, his moves are really accurate and ruthless. It is said that Lu Ming has the courage to dare to make big bets, such as GigaDevice and Huiyi.
Companies such as Ding Technology that have been listed on the A-share market have brought Tiansheng Capital several times investment returns.
Perhaps this can also explain why so many institutions lined up to send money to him to manage, and why he was able to manage trillions of assets so quickly.
…
The second questioner: "Good afternoon Mr. Lu, thank you for the opportunity to ask questions. I am a small shareholder and an ordinary retail investor. My question is that ordinary retail investors often fall into a vicious cycle of continuous losses.
As the best investor in the capital market, how do you view this phenomenon?”
Tiansheng Capital’s regular annual general meeting of shareholders is live broadcast to the entire Internet. Anyone can watch it. Just click on the official website of Tiansheng Capital. There are many shareholders watching the live broadcast, even if they are not Tiansheng shareholders.
When hearing this question, retail investors couldn't help but increase their attention by three points.
At the shareholders' meeting, Lu Ming was silent for a moment after hearing this question, moved the microphone on the conference table, and then said: "I actually want to avoid this question, why retail investors always lose money. From a psychological point of view, the reasons for the losses are roughly
It has gone through such a process: observing, optimistic, waiting, impulsive, chasing the rise, and being trapped.”
Lu Ming described it in vivid language: "I saw a target, okay, I looked at it, I was optimistic if it rose, but I wanted to wait until it fell back to a low level before buying, so I waited, and when I waited, I saw that the target rose.
I was so fierce and anxious that I chased it in impulsively. As soon as I chased in, the good guy was trapped the next day. When I was trapped, I didn't want to cut off the flesh and expected it to rise back. I thought that if I sold it, I would really make a real loss.
.”
After a moment of pause, Lu Ming added: "When the stocks I hold fell by about 10%, I felt lucky. When the stocks fell by about 20%, I regretted not cutting them off earlier. After they fell by about 50%, I could only pretend to be dead.
It doesn’t matter whether it’s sold or not, it’s numb and numb, and many people are like this.”
"Then another situation is that your position has just risen a little and you want to sell it but don't dare to sell it. On the one hand, you are worried that you will lose the floating profit if you don't lock it in. On the other hand, you are worried that if you sell it, you will not be able to eat the big meat behind. If it rises first and then falls, it will be more
I am worried that my profits will not be guaranteed in the future. I am exhausted every day and am tortured to the point of being in a state of panic all day long.”
The fans who were watching the live broadcast of the Annual General Meeting couldn't sit still and started talking about it.
"I feel offended... [covers face]."
"Brother Yi, stop scolding, stop scolding..."
"It's so true, you're talking about me."
"No wonder I keep losing money. The main force is really trying to figure out my mentality of waiting for the dog to break up."
"It's so heartbreaking to hear."
"grass!"
"Don't say it, don't say it, the next question...[laughing and crying]"
…
At the same time, Lu Ming, who was present at the shareholders' meeting, spoke again: "...In the final analysis, I still don't know much about the target company, and I don't know the psychology. The panic all day long stems from the fear of the unknown and from the deep knowledge.
You can't control the panic and can only look at the faces of the so-called main players. To get out of this vicious circle, you must first get out of the emotional hype of hot topics created by hot money."
"Then choose a really good company, a leading company, a company with fundamentals and performance, hold it for a long time, accept the fact that you are getting rich slowly, accompany the growth of the company and share the dividends of growth with it. The reason why you panic is because in your heart
I also know that I am hyping a rubbish company with no future, so I am afraid, so I am in constant panic."
"The reason why I still want to speculate despite knowing all this is because I don't want to accept getting rich slowly, and I want to get rich overnight. When I am willing to accept getting rich slowly, I will naturally stay away from the garbage in the market, and I will naturally choose a good company and an excellent company leader.
When you choose a company like this, you won’t be afraid even if it goes down, because you know that it is the best core asset in the market. If it goes down, it will rise, and the more it goes down, the more you buy.”
At this point, Lu Ming's answer also ended. He still advocated the view of "taking big as beauty and core asset".
In fact, if small and medium-sized investors hold core assets now, they will definitely be able to make money if they hold them for a few years in the long term. Even in the big bear market next year, they can make profits to control the drawdown. If they are smarter and avoid risks,
You can also lock in some profits.
Lu Ming knows that even if they choose core assets, they will still follow the old path of "observation, optimism, waiting, impulsiveness, chasing the rise, and holding on".
They will not jump in directly just because of Lu Ming's current opinion. Based on their "own opinions", they will choose to observe carefully for a while and then wait for a while, thereby missing the best time window and finally realizing something.
If you just lift the edge of the well and take a look, you will eventually fall down.
The losses that a person should suffer, the pitfalls that he should step on, the sins that he should suffer, and the tuition that he should pay will never be less. There is no shortcut, and anyone who says there is a shortcut is a liar, because only by truly experiencing it can we truly
Realize.
Lu Ming will not care about the small things of the small business at all. He has a more important task, which is to compete with foreign capital in the future market outlook. He must first use his sword to harvest before letting foreign capital take action.
