Rebirth: The Financial Giant

Chapter 184 [The reason why the boss is angry (3173)]

In the conference room, no one has spoken for a long time, Lu Ming looked around at everyone and suddenly smiled: It seems that everyone doesn't need it, that's fine.

Everyone didn't say anything, because they couldn't take it.

After speaking, Lu Ming stood up from his seat, leaned forward, took the bag containing calcium tablets off the conference table, and threw it to the ground.

After a moment of silence, Lu Ming's smile suddenly disappeared, and he gradually raised his voice: Everyone! I say everyone, what you are doing is to cede the PE pricing power of the domestic capital market to Wall Street? Wall Street? The analyst of the company ordered a target and said that its PE is 50, 80, or 100. That’s it? Who is the big A?”

At least half of the institutions in China, or even more, have to buy calcium supplements to treat cartilage and head disease. Oh, Wall Street's analysis is authoritative, and it is a famous saying, you have no judgment?

Li Mingyang and others suddenly realized that the boss was angry because of this!

If you think about it carefully, you will find that there is no refutation. There are indeed too many institutions in China, including many people in Tiansheng Capital, who place too much importance on the behavior of foreign capital. Those who have been dismissed by the boss are the representatives of the company.

These are all the industry elites hired by Tiansheng Capital with high salaries. It can be seen how many people in other domestic institutions worship foreign capital. If you think about it carefully, it is indeed easy to be led by foreign capital with a rhythm. passive.

I don't care about other institutions, but Tiansheng Capital's reference weight for the northbound capital cannot exceed 20%, and it is necessary to conduct research on its own. Lu Ming directly set a new tone for the people in the investment and research department.

After five minutes, the meeting moved to the second agenda.

At the meeting, Lu Ming said again: Did you realize that the domestic stock market is moving a little faster after the new year? Although there was an adjustment last Friday, this adjustment has not changed from the current one. From the point of view of the upward trend of the index, it is still a bit fast.”

A manager of the investment and research department who attended the meeting said: The big rise after the year is inseparable from the continuous net inflow of foreign capital. Even if it was adjusted last Friday, foreign capital still kept buying and buying. According to the data, the capital from northbound has been one consecutive period. Keeping net purchases every month, Mr. Lu is right, a group of institutions in our country are indeed being led by foreign capital and need to supplement calcium.

Lu Ming immediately said: Then, can this rapid rise continue? The answer is definitely not, why? Let's take the current motherboard of around 3,200 points. If we want to reach 5,000 points, there is still 1,800 points of room for improvement. For a period of time, it has maintained a rise of 20 o’clock every day. We assume that the market outlook is calculated by the average of 15 o’clock every day. As long as 120 days, we will run the entire market in about three or four months. Is such a fast bull market possible? ?

Everyone shook their heads.

This is obviously absolutely impossible!

Lu Ming looked around the crowd and said, So it's impossible to have such a fast bull market, especially the lessons from the stock market crash the previous year are vivid in my mind, so my prediction is that the management must intervene in the future. Intervention is inevitable, every round of bull market. There have been two or three interventions. Now, foreign capital is deliberately leading the capital market to heat up and speed up. It was adjusted yesterday, but foreign capital did not withdraw but continued to maintain the trend of crazy inflow.”

While everyone was pondering, Lu Ming said at the meeting in an orderly manner: In the 1990s, Japan signed the Plaza Agreement. Before that, Japan's economy was rapidly rising, and Japan's low-priced products were exported. North America, is this almost the same as our current situation? But the old America came up with the Plaza Accord, forcing the yen to appreciate.”

This has made the Japanese people rich, so they are allocating assets wildly, including overseas assets, buying stocks in US stocks, real estate in North America, etc., and domestically? After the appreciation of the yen, exports will definitely be affected, and Japan The authorities are thinking about lowering the interest rate domestically, what should the common people do when they see that there is no profit in depositing their money in the bank?

Li Mingyang couldn't help but said: From a historical point of view, the common people in Japan are rushing into the stock and property markets like crazy, and the foreign currency has appreciated again, and they are also buying and buying abroad. The Japanese people in those days claimed to be buying Magnesium!

Lu Ming looked around the crowd and said, So the result is that both the property market and the stock market in Japan have reached record highs. Let's look at the current Nikkei 225 index. It has not recovered to the highest point in history today, and it has been 25 years since then. Well, even if you give them another five years, they won't be able to recover it.

The high point of the Nikkei 225 index in the 1990s was 38,957 points. As of today, it is 19,251 points. After a full 25 years, the Nikkei 225 index has been cut in half. To recover this historical high, the Nikkei 225 index will rise by 102%. Left and right, it has to be doubled to go up, it is too difficult!

Lu Ming went on to say: So we have to take a warning about the pain and cost of Japan in the past. The US index has begun to depreciate, and it has begun to reverse the trend. With reference to the appreciation of the yen in the past year, the corresponding RMB is rising. The next year will inevitably face rapid appreciation, which is similar to that of the Japanese yen.

The RMB will definitely appreciate in the future, which is one of the reasons why Lu Ming is willing to put a large amount of offshore funds in the pool of offshore RMB.

After the international financial speculative capital failed in the second round of foreign exchange wars at the end of last year, it quickly made a conclusion, revised its countermeasures, and began to choose to lurk to the big A.

Don't you want to keep 7? Then I will fulfill you and promote the rapid appreciation of the RMB.

Just like Japan in those days, it pushed the stock market and housing market soaring.

This is a new plan that the opponent quickly adjusted and formulated after the fiasco. It is indeed a strong opponent, fast and efficient.

Lu Ming continued: ...What if the RMB appreciates rapidly with foreign capital? There is no doubt that it will lurk into the stock market crazily. If the property market is not restricted, the data will not deceive people. After the year, foreign capital will enter the stock market. The pace is constantly accelerating, so our market is actually showing signs of being led by foreign capital, and a large group of institutions, including many retail investors, only come from the north.

Then think about it, will the management allow this kind of thing to continue? Impossible. The domestic fast cattle are not allowed to appear in the first place, and now foreign capital wants to guide the capital market, it will not allow radical fast cattle. In particular, the lessons learned from Japan and the stock market crash the year before, now slowing down is the basic strategy after the stock market crash. The leveraged bull market in the previous year caused the wealth of the domestic middle class who had entered the capital market for more than ten or twenty years to evaporate overnight. This kind of tragedy is not allowed to happen again, it is not allowed to be repeated.

We must have a clear understanding of the big picture, that is, the big A is the most subjective market among the major capital markets in the world. Once there is a problem, it will never tell you anything, the principle of the free market, the non-intervention, etc. If it is impossible, it will definitely intervene, and it is just a matter of strong intervention and weak intervention.”

Having said that, Lu Ming called up the full chart of the Shanghai Index over the years on the main screen of the conference room, and then said:

These historical data, in the previous bull market trend process, we can see that each super market can clearly see the traces of intervention in some volatile and consolidating positions, which are reflected in the K-line pattern. 6124 appeared 4 times and 5178 appeared. 2 times, and the big bull market in the 1990s can be said to be 12 gold medals to order the stock market to skyrocket. The bull market in this period of 6124 forced the stock market to skyrocket almost from beginning to end, and the interest rate hike alone took seven or eight times...

Everyone understands what Lu Ming wants to express. The domestic capital market will usher in a new adjustment in the next period of time. Foreign capital is trying to guide the capital market to heat up quickly, and the management will definitely crack down on it.

In other words, the future pattern of Big A will definitely operate under the supervision of supervision, and it will never deviate from nor allow it to deviate from expectations.

The participating fund managers, including the fund managers of Tiansheng flexibly deploying several major closed-end funds, should pay special attention to the news from the management at this time, and there is an expectation that they should appropriately lighten their positions to avoid risks.

...