Rebirth: The Financial Giant

Lu Ming entered the hall of the venue and greeted all the shareholders with warm applause. He also waved and greeted him. It doesn't matter whether the large, medium and small shareholders present applauded from the heart. Anyway, the attitude must be in place. Will suffice.

The row of seats facing all the shareholders was the seats for the board members. Lu Ming quickly took a seat in the middle seat. The board on the table was the three prominent words of the chairman.

At two o'clock in the afternoon, Tiansheng Capital's 2018 Annual General Meeting of Shareholders was officially held, and all the participants were quiet. There were two giant split-screen screens on the left and right behind the board seats. At this moment, the focus of the screen was Lu Lu. Ming.

Good afternoon, everyone, I'm Lu Ming, and the 10 members of the board of directors of Tiansheng Capital sitting next to me. Lu Ming looked at all the shareholders at the meeting and made a simple opening, just like last year's shareholders meeting The same introduction to the other 10 directors of the company's board of directors.

At this time, Lu Ming took over a document handed over by the staff. This was a backup of the deliberation matters.

In the annual report, we put it out at the beginning, this year we provide the stock aspect, whether you sell your stock or not, or the status quo from one market to another, but the basic combination of stocks is like that, In the Tiansheng Shanghai 50 Index and the Tiansheng Shenzhen 100 Index, the general economic conditions are reflected here, and we will also record all matters, which fluctuate every quarter.”

But I hope all of the attendees today, especially the news media here, will focus more on our company's operating earnings rather than net profits, and forget about capital gains or losses.

Because there will be a lot of capital gains and unrealized capital gains in the future, but they are not so important to the group company, and of course it has its value in analysis and forecasting, and we have to disclose it every quarter and year. , I hope everyone will not be misled by these numbers.”

So please don't be misled when reporting. We will try our best to let the media community understand the revenue situation and figures we are doing today, rather than the results of capital or revenue in the future.

Tiansheng Capital's financial report is a mystery to most ordinary investors, and it is difficult to understand, but the numbers are quite frightening. more than 380 billion yuan.

That's pretty scary numbers.

And some investors think that Tiansheng Capital's revenue this year multiplied by four quarters will make 2 trillion and net profit of 1.5 trillion?

However, some investors mistakenly believe that this is the case. In addition, the media specially used exaggerated headlines to attract attention. This is obviously impossible. It reflects that the income statement in the first quarter is actually Tiansheng Capital’s overseas investment in the past two to three years. s return.

The general meeting of shareholders was going on, and Lu Ming gave a general overview at the opening stage, speaking for about 20 minutes.

Afterwards, the meeting deliberated and approved eleven proposals including the 2018 Annual Work Report of the Board of Directors, 2018 Annual Work Report of the Supervisory Committee and 2018 Annual Financial Final Account Work Report through on-site voting combined with online voting. Ms. Lu Xinyue, an independent director, represented All independent directors of the company made the 2018 Work Report of Independent Directors.

These deliberation, proposals, work reports and other matters have been completed, and the time is already 3:30 in the afternoon.

The annual general meeting of Tiansheng Capital was also broadcast live on the Internet. At the beginning, there were many netizens, stockholders and even basic citizens watching the live broadcast, and many netizens who did not even buy funds also came to watch.

However, most of these people watched it for half an hour, and once the freshness passed, they said that they could not stand it, because many content required a certain degree of professional analysis ability to understand what was said. For most people It's a bit of a fight with the principal's speech while reading.

After the conference lasted for an hour, four-fifths of the audience in the online live broadcast room died, and more than half of the remaining one-fifth pretended to understand and read it carefully.

At 16:45 in the afternoon, we entered the question-and-answer session, which was the focus of everyone's attention, and it also made all the participants energized.

Lu Ming once again took over the right to speak at the conference and said: Today's Q\u0026A session will begin now, and then there will be a grand dinner party at 19:30 in the evening. First of all, starting from the reporters, they have received some emails from the majority of investors, summarizing some Questions, picking the ones that they can ask live today that might be most useful to all shareholders, the webcast is also going on, and it's doing a great job.

After a while, a reporter at the meeting took the microphone and glanced at the paper card in his hand and said, I am honored to have the first opportunity to ask questions. I am a reporter from Securities Times. The question with the largest number of investors, in the next few years, which field of investment varieties can be relatively stable and have solid and considerable investment returns?

Hearing this question, Lu Ming couldn't help laughing and teasing: This is directly asking the first brother to ask for the wealth password? The majority of investors don't have a word of nonsense.

All the attendees couldn't help laughing. At this time, the barrage in the live broadcast room began to come alive.

After a while, Lu Ming replied neatly: The relatively stable income is quite considerable... Gold, do gold TD or something, gold is a good long-term variety, although it has been adjusted for seven years since it peaked at the end of 2011. The time has come. The reason why the adjustment is placed in a larger cycle. Gold is still in a bull market. It has been bullish for nearly 20 years. The record high is certain, and it may reach a new high in the next two or three years.

When asked about the wealth password, and it was answered publicly, it can only be given to gold, and gold has indeed ushered in an inflection point. Now is the best window for intervention, and there is sufficient time for intervention. The window period is about half a year. time.

Other investment varieties must not be mentioned indiscriminately, such as stocks, the market will react violently.

The barrage in the live broadcast room opened one after another.

Understood, let's sell the RV for Stud Gold!

Ding~, congratulations on obtaining the first brother's wealth code!

Big Mom Ecstasy Series!

My brother actually recommends gold TD varieties? In recent years, all kinds of gold purchases by aunts have been popular abroad, and all kinds of gold stores are full of pictures of aunts rushing to buy gold.

Brothers, get up and grab the gold with the aunt... [Er Ha]

...

The second questioner: Hello Mr. Lu, the question I want to ask is, if we observe a trend, how should investors build their own positions? How to increase, decrease and close positions? and When will I change my position? Thank you!

Lu Ming nodded, thought for a moment and then replied: How do you say this... Different investors are different, if you are an investor who is engaged in long-term asset allocation, your intervention point is more than The adjustment in the middle is more important, which means that you should choose the time point with the best risk and reward when you are at the intervention point.”

What is the best time to measure? It is very simple, it is the volatility of options. Isn't option pricing of risk? Isn't volatility the standard for pricing risk? The answer has already told you, that is, options cost the most The best time is when your transaction cost is optimal. The logic is what you need to do before that. Take gold as an example, the current volatility is about 9. Our internal analysis team agrees that now is the best window to intervene. Expect.

From May 2016 to the present, the gold variety has been following a convergence triangle on the graph for two years, but the technical form is not the key, the volatility is already at a very low level, the risk pricing is very cost-effective, and the main line logic has been Appears, and all paths are basically open.

This time point is what you should really do. Of course, Tiansheng Capital is already allocating gold assets. This general direction is determined. It can also be displayed here. We have a lot of gold. As for the specific transactions, I will not care. I don’t care about the price fluctuations during the period, and I leave it to young traders, and I don’t care about the price adjustment in the middle.

The only thing I do is to grasp the main line logic. My main line logic is very clear. Laomei will continue to raise interest rates this year, but your real interest rate will fall, and the debt risk will be depleted. When will you start to adjust, when will your Laomei debt and When the credit returns, I will start to close my positions.”

The domestic auntie group has been buying and buying gold continuously, and they have no logic. The logic is that they feel that gold is so cheap now that they can’t afford to buy it, and they can’t be fooled. , and especially love the physical delivery of gold spot, such as gold bars, gold coins and the like.

This is also the only wealth code that Lu Ming can publicly say. I would like to tell everyone that now is optimistic about the gold variety, and now is a good time to intervene.

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