Chapter 240 I Am God
"First of all, let's make it clear that the core logic of retail investors' stock selection is 'holding', while the core logic of speculative capital stock selection is 'exploration'."

The PPT set the tone at the beginning, and Xie Jingxing scanned the big screen with the remote control pen: "Do any of your relatives trade stocks?"

"My dad trades stocks."

Ji Zhiqiang, a middle-class native kid, raised his hand enthusiastically, thinking that if he could attract several million dollars of investment for the company, he could get 'VIP' treatment, but it was just a thought.

After all, the young boss in front of him is a top VIP player who can bring a spin-off listing project to Juntai when participating in an internship variety show. Grapefruit Capital was established a year ago and raised tens of billions of yuan, so the few million yuan of its own capital is not even a drop in the bucket.

"Don't be so tense, let's just chat casually. How does your father usually choose stocks?" Xie Jingxing asked a leading question.

Ji Zhiqiang scratched his head awkwardly: "My dad likes to look at the technical side and do short-term buying and selling. If he sees his friends buying, he will sell, and if others sell, he will sell."

"This is typical retail investor thinking. Most retail investors do not have the energy and expertise to select stocks. There are more extreme examples. For example, it is often said that retail investors who have just entered the stock market are superstitious about technical aspects. That is because they can only understand the rise and fall of the candlestick chart, and they don't even have stock friends to communicate with."

Xie Jingxing switched to the next PPT and continued to talk: "So if you don't have the ability to pick stocks, it's better to skip this step and put the core logic on the next step, the timing of holding stocks."

“Preset that you should select a blue chip stock with good business conditions and optimistic industry prospects, buy it one month before the year-end financial report is released, and sell it after the financial report is released when the increase reaches a certain level; or buy it now and sell it in three or five years.”

Ji Zhiqiang remained silent. Everyone knows that retail investors should not speculate in the short term, but retail investors who do not speculate in the short term are not leeks.

Wan Xue, a cheerful girl with a cute smile and a pair of small canine teeth, pushed up her glasses and said, "This involves fundamental analysis, and of course, stock holding timing, or risk control."

"Yes, your focus is very sharp. But whether it is fundamentals, technical aspects, or risk control of stock holding timing, these are all things that retail investors and public fund institutions consider."

Xie Jingxing paused for a moment and switched the PPT, raising his voice to emphasize: "I personally think that this extends to the stock selection logic of mastering large amounts of short-term speculative capital - digging, listen carefully, the focus is on digging, not on selection."

"Since novices are superstitious about technical aspects, give them a stock with a technical trend that suits their taste; veteran investors like to analyze fundamentals, give them a stock with good operating conditions. As for policies and themes, give them whatever retail investors want."

With a faint smile on his face, he looked at Zhan Yunping and concluded, "The final key is that we have to dig out such a stock from the nearly 3,000 stocks in the two markets."

"For example?" The cheerful girl Wan Xue seemed to be thinking about something.

"Take 'Meidu Special Steel' as an example. It mainly deals in special steel products. At first glance, the company's fundamentals are obviously military-related. However, if you add some imagination and find the recent increase in import and export orders for nuclear power, high-speed rail, etc., you can associate it with the 'Belt and Road' concept theme."

Xie Jingxing pressed the remote control pen and pointed at the big screen: "Imagine again, when the Belt and Road Initiative is achieved in ten years, domestic companies will go overseas to build a large number of high-speed railways and nuclear power plants. How promising will the prospects of Coal City Special Steel, which is at the upstream of the industrial chain, be?"

"Well, but the special steel business of Meidu Special Steel accounts for a very small proportion of its revenue. At present, with the decline in international crude oil prices, ordinary steel production capacity is in excess, and the overall gross profit margin of the market has decreased." Wan Xue quickly checked the computer and read out the opinions according to a line of research.

Xie Jingxing nodded: "Very smart, but in August, listed companies will collectively disclose their mid-year financial reports, and the financial report of Meidu Special Steel will be disclosed soon."

"Essence Securities released a corporate research report two days ago, saying that in the past two years, Meidu Special Steel has stockpiled a large amount of special steel." Zhan Yunping made a supplement and sent the research report to the group.

Wan Xue immediately understood and raised her eyebrows: "So the mid-year financial report of Meidu Special Steel will be favorable, with the proportion of nuclear power business orders brought by special steel increasing?"

The subject matter, policy, and news are all positive, but there is still something missing...

Ji Zhiqiang's brain was working rapidly to check the stock market of Meidu Special Steel. The stock price was 17.5 yuan, which was at a historical high. The total share capital was 19.72 billion yuan, the total market value was about 330 billion yuan, and the circulating stock was 13.8 billion shares. The stock price fluctuated upward with a high turnover rate and large volume that day.

Check the trend of the sector in the high and low switching stage, reduce the screen window and compare the market price, price-earnings ratio and other information with the leading stocks of Chengfei Holdings, which have collapsed. As long as the rise makes up for the technical aspects, he thinks there is an 80% probability that his father will chase the rise and run into the market as a leek.

“Funding push.”

Zhan Yunping whispered four words. Ji Zhiqiang's performance at this moment was exactly the same as he was last night. He was shocked.

Mr. Wang Xueqing will always teach them the strict macro analysis and investment strategies, but he will not tell them how to speculate in the short term in an unconventional way.

That’s right, it’s a wild way.

The market operates dynamically, and the old professors who write textbooks will suffer huge losses if they personally trade stocks. Many of them are summed up through personal experience of being hurt and deceived in the market, and then they develop their own unique ways.

Retail investors call this thing "metaphysical enlightenment", while peers call it an investment system.

Wan Xue combed the hair around her ears neatly and puffed out her cheeks quietly, her round face looking like a giant panda.

It was the same when a certain giant crude oil stock was listed. Its fundamentals were invincible, and it was full of favorable policies and news.

On an afternoon when the sun was not too bright and the water was gentle, she returned home happily with her schoolbag on her back. Her father touched her hair with a loving face and spoke in a voice as loud as a bell, "My daughter, Dad won the lottery for the new shares. I will buy some more and hold it for the long term. I will give it to you as a dowry in the future, okay?" Hahaha.

Dad laughed until five years later, and as of today this year, the stock price of that oil giant has almost plummeted.

This was the reason why she had just quickly thought of the fundamental analysis to choose the right time to hold stocks. Her father always liked to buy such stocks. If the same was true for Coal City Special Steel, she would most likely not miss it.

"Okay, do you have any questions?" Xie Jingxing clapped his hands to break the silence.

Zhan Yunping looked at his two colleagues, and the three of them reached a consensus and confirmed: "So our main investment target next is Coal City Steel?"

"I need you to temporarily put aside your professional knowledge. This is a short-term investment. I will take care of everything else. You are responsible for using your positions to push this stock to the general public."

Xie Jingxing changed the subject and said self-deprecatingly: "Of course, the basic trading techniques cannot be forgotten. After all, the market cap of this stock is not small."

Zhan Yunping and the other two laughed in unison. To put it bluntly, the so-called short-term investment is the same way that hot money plays, but on a bigger scale than hot money.

The name of hot money has a mysterious and powerful color in the minds of retail investors. In fact, their positioning in the market's ecological chain is more like that of wild dogs. Nowadays, the top hot money controls only 10-20 billion yuan of funds and can often only choose small-cap stocks with a circulating market value of tens of billions to stir up trouble.

Major shareholders, national teams, public and private equity funds will all be slapped in the face if they pass by. If one is not careful, they will end up in trouble.

It is precisely this ecological environment of survival on the edge of a knife that has created their extremely excellent sense of smell and their superb control over market sentiment and capital game.

In this regard, the top hot money that can be active for a long time is one level stronger than most public and private funds.

With the size of the 20 billion yuan market cap of Meidu Special Steel, if the final investment return can meet Mr. Xie's wishes, the difficulty will be no less than the Didi-Kuaidi merger he led in the primary market. "Come on, Xiao Wan, you can do it!"

After lunch, Wan Xue returned to the trading room and stuck a self-motivational note under the computer screen. She clenched her fists, raised her arms, and took a deep breath.

Ji Zhiqiang passed by the back of the workstation and knocked down her Iron Man figurine in a frivolous way: "Let Jarvis give you the power."

"It's so annoying." Wan Xue steadyed the shaky figurine.

"Hahaha, push, push it out. Wanzai, how do you pronounce the wind and clouds? Fengqi Yunyun."

Ji Zhiqiang pinched his throat to imitate the accent and quickly changed the subject before she got angry: "Do you think our young marshal is serious?"

"Or am I kidding you?" Zhan Yunping raised the day's operation plan in his hand to indicate.

Ji Zhiqiang shrugged, glanced back outside, and diligently closed the door of the trading room and complained: "Look at the way he is in the meeting. He is not just a workaholic. Nietzsche is not as crazy as him! He really has high aspirations for a 20 billion plate. Is this the thinking of a genius?"

"If there is a God, how can I bear that I am not that God, so there is no God!" Wan Xue rolled her eyes and retorted.

Ji Zhiqiang curled his lips: "Okay, okay, Mr. Xie thinks he is a god. If things go wrong, we ordinary people can pack up and leave. We have been in the industry for three years and have suffered a loss of more than 10 billion. We should either retire or change our career."

"Stop nagging. Is it possible to make tens of billions?"

Zhan Yunping was the calmest. He tilted his head and discussed with Wan Xue: "I will clean up my positions this afternoon. You observe the trend of Coal City Special Steel and choose the right time to open a position."

"OK, I have to clear the bottom warehouse here and use the Huaihai South Road account to build a warehouse."

The two of them chatted back and forth, and Ji Zhiqiang sat back at his workstation in disappointment as he was ignored. He also wanted to make billions and take off to the peak of his life.

But his basic professional ethics told him that this was a job that went beyond the private equity risk control rules.

No matter how perfect the investment strategy on paper is, there is a fine line between heaven and hell in the market, and past achievements and a distinguished family background cannot turn the success rate into 51%. In contrast, Mr. Wang, who is regrettable, gave him more confidence.

As they were talking, the market opened and the three of them went to work, starting to make transactions in an orderly manner according to instructions.

Xie Jingxing sat in the public office area. Three screens displayed virtual numbers in red and green, showing the market index and individual stock trends. The fourth screen refreshed the latest financial news in real time.

At the other end of the public office area is the risk control room. Above the door hangs a small round lamp that screams. When it sounds, two ferocious humanoid dogs will instantly jump out, shouting that the market is over and the positions will explode. They will rush into the trading room on the other side as quickly as possible and bite Zhan Yunping and the other two to death.

Trading and risk control, with the now vacant independent investment manager office belonging to Wang Xueqing in the middle, form the complete framework of the active strategy securities investment team.

There are also several market researchers who work in the single-family villa office rented by the quantitative trading department. They are like workers in a coal mine, huddled in front of their computers every day, churning out research reports like an assembly line without seeing the sun. The two securities teams, quantitative and active, share these reports for decision-making reference.

Although most of them are garbage and useless, I can use them as a rehabilitation warm-up exercise after not being in touch with the market for a long time.

Xie Jingxing skimmed through a few research reports and turned his attention back to the market trend. The afternoon intraday chart of the individual stock Coal City Special Steel gradually increased in volume and trended upward. At 14:05, the increase was 7% and the high level was fluctuating. The buy 5 order price was 18 yuan.

"Open a position, 19.25, lots."

He picked up the internal monitoring landline phone and issued an order, and Wan Xue repeated it on the other end of the phone: "Open a position and buy, 19.25, lots."

As the words fell, the time-sharing chart instantly stretched to the top and hit the daily limit, with orders blocked at 8000 lots, 7500 lots, and 7000 lots.

The sell orders were gradually eaten up by the buy orders, and then there were sporadic buy orders at the limit price. Ten minutes later, the time-sharing chart collapsed, the limit price was opened, and the price fluctuated at a high level until the closing.

A new buy order of 1887 lots was opened, with a holding value of 38 million and a floating loss of .

The tentative position building is not bad. The early profit-taking maintains high turnover and high volatility. The rough limit-up order here is considered to help them.

The funds in the secondary market have no names written on them. As long as no one raises a placard, even if Xie Jingxing is really a god, he cannot guess whether the early profit-taking in the Coal City Steel check is from the banker, hot money, or individual investors.

The former's hype cycle is usually annual. Assuming that the circulation value of a stock is 100 billion, they will use 50 billion funds to manipulate the stock price, which means they can achieve 50% control over the stock's rise and fall.

If you want the stock price to fall, it will fall; if you want it to rise, it will rise.

There are indeed some famous market makers in the A-share market. The market makers who dominate the market are mostly not very friendly to outsiders. If you dare to come in, I will smash the market and kill you.

This type of market-manipulated stock generally has a smaller circulating market cap, and when the market maker controls half of the circulating chips, no one else will benefit unless the major shareholder lifts the ban on selling.

In short, Coal City Steel is a market maker stock, so Xie Jingxing can just forget about it. However, according to statistical data and the stock's performance over the past two years, there are no signs of market makers.

After all, this check also includes a large amount of restricted shares, as well as major individual shareholders and public funds that have raised their stakes. If a market maker had come in, he would have been driven away long ago.

Then it is more likely that the early profit-taking is from hot money making short-term plays, and they will take a gamble if they have around 20%-30% control over the stock price. On the contrary, it will have little impact on individual major shareholders who have their interests tied to the company and public funds who hold stakes for long-term and stable investments.

When selling their stocks, hot money that values ​​a good reputation will not dump the market violently. Instead, they tend to lure more investors into buying at high levels and then sell them slowly, maximizing their own interests while indirectly giving a share to small and big retail investors.

In this way, retail investors are also willing to cooperate tacitly, following behind them and cheering to speculate in the short term - all they play on is appeal.

"Come in and say hello. They will most likely ship out the goods decisively tomorrow."

At the review meeting, Xie Jingxing was in high spirits and livened up the atmosphere. Zhan Yunping and his group of three had no ideas, and Young Chief Xie's methods were a bit too rough and wild.

The daily limit of 10,000 orders may seem like an active response and a polite tribute, but in fact it has the effect of disrupting the rhythm of early profit-taking.

They don't know who the other party is, and the other party has no idea where the relay funds for today's daily limit came from.

Now there are two choices, either to quickly cash in on the profits and leave, or to stop and continue holding positions and play another game with the new "speculative capital".

(End of this chapter)