Chapter 553: Struggle for Market Dominance (Part 42)!
"The market has completely changed! Alas..."
Inside the Yinghui Fund Company, in the trading room of the 'Yinghui No. 1' fund product in Shanghai, fund manager Liu Guanhai sensed the sudden change in the market's investment sentiment. His face was bitter, and he sighed helplessly: "The institutional groups that are bullish on the 'technology growth' line are damned."
Originally, the core holdings of their fund were adjusted to the 'big infrastructure' direction of the main board.
However, due to the clear market view signals revealed by various institutions at the Shanghai offline investment strategy meeting not long ago, and the continuous strong trend of the 'technology growth' stocks in the market in recent days, as well as the continuous stimulation from the news, sentiment, and external market trends, he hurriedly adjusted the core holdings of the fund to the core concept stocks of 'technology growth' with strong gains.
Even this morning, he was still asking traders to increase their positions in 'LeTV, Netspeed Technology, Huayi Brothers' and other core concept stocks.
Review of the fund holdings over the past six months.
The fund product "Yinghui No. 1" under his management has been repeatedly misstepping on the market rhythm and has been repeatedly slapped in the face in the layout of the main market.
In the first quarter, due to the strong performance of the "Apple concept" at the beginning of the year.
The "Yinghui No. 1" fund product can be said to be fully deployed in the two main core stocks of the "smartphone industry chain" and "mobile Internet" that were strong in the second half of last year.
And there is no doubt that after the "Apple concept" performed for a while at the beginning of the year, it was in a slump.
In the first quarter, the market continued to fall, especially the crazy adjustment of the two main lines of "smartphone industry chain" and "mobile Internet", which happened to be completely eaten The fiercest decline, causing the fund's net value to retreat severely in the first quarter.
Then, when the time entered April.
Due to his misjudgment on the main line of the main line of "big infrastructure" on the main board, he did not have time to intervene in the early stage when the big funds of the "Yuhang system" took advantage of the favorable east wind and frantically pulled up this main line, and completely missed all the market gains in the early stage.
Then, as time approached May, the ‘big infrastructure’ continued to soar.
After seeing the fundamental logic of the ‘big infrastructure’ line, he finally made up his mind, decisively adjusted his positions, and heavily invested in this field.
However, after he adjusted his fund position to ‘big infrastructure’.
He was not happy for two days. After the surge in May, the ‘big infrastructure’ line quickly plummeted, trapping him at the top of the mountain again.
After that, the market continued to adjust in mid-to-late May and early June.
The net value of the ‘Yinghui No. 1’ fund fell to a new low of the year, and the retracement was extremely serious.
After that, the market recovered after the Dragon Boat Festival, and the main line of "big infrastructure" regained its momentum. At this time... he was still determined that the line of "big infrastructure" would perform well and quickly recover the lost ground. However... just when he was full of confidence, he did not expect that the line of "big infrastructure" that he was optimistic about and the fund had a heavy position in would fall into adjustment again, and the Shanghai Composite Index was trapped below 2,300 points and could not break through.
With the extension of the market's sideways time, at the same time, the good news of "film and television media" appeared, the main line of "technological growth" broke out in an all-round way, and the influence of the offline investment strategy meeting in Shanghai was fermented. The entire market, almost the vast majority of investment institutions began to strongly look forward to the main line of "technological growth".
As a result, when he was eager to change the trend of the fund's net value and restore the confidence of investors who invested in this fund, he blindly cut off the core component concept stocks in the field of "big infrastructure" that were trapped in an adjustment state and had not risen for a long time, and all the freed positions were chased into the line of "technological growth".
And now...
There is no doubt that according to the actual market trend feedback, he has stepped on the wrong rhythm again.
After continuous investment strategy errors, the annual net value of the 'Yinghui No. 1' fund product he is in charge of has fallen to 21%. Compared with the Shanghai Composite Index's nearly 12% increase this year, it is extremely bad. In the domestic private equity fund product performance rankings, let alone competing for rankings, whether he can continue to be a fund manager is still a huge problem.
"Ah..."
Thinking of the consecutive bad operation strategies in the past six months, Liu Guanhai couldn't help but sigh again. The sullen breath in his heart really couldn't be vomited.
In the past, he also mocked the main capital of the 'Yuhang system', saying that it was just taking advantage of luck.
Now it seems that he is the real clown.
"Boss Liu, should we adjust our strategy later and move our positions in 'Technology Growth' back to the main direction of 'Big Infrastructure'?" Seeing that Liu Guanhai was in a bad mood, Yu Lei, the head of the trading team, thought about it and made a suggestion, "In fact, I think... our previous trading strategy was not wrong. We should stick to the 'Big Infrastructure' line. After all, the Shanghai Composite Index cannot break upward without the help of the 'Big Infrastructure' line. Moreover, the basic investment logic and fundamental changes of the 'Big Infrastructure' line, as well as the long-term investment expectations, have not changed compared with the previous ones."
"And..."
Yu Lei paused and continued: "Today the market has really confirmed the opportunity for the wind direction to change. That is, the market's high and low switching has just begun. If we are more decisive, we will actually have enough time to keep up with the market changes, at least There is no resistance for the Shanghai Stock Index from its current position to the pressure mark of 2,500 points. The 'big infrastructure' line will definitely continue to rise in the future. "
"The closed period of our 'Yinghui No. 1' fund ends in September."
"Now if we change our trading strategy and keep up with the main trend of the market, we still have a chance to recover the severely dropped net worth."
"Do you think we should adjust our positions to pursue the 'big infrastructure' line?" Liu Guanhai felt a little better under Yu Lei's comfort. He looked up at the other party and asked, "What if...we adjust our positions and pursue it?" Are you chasing the high point again?”
Looking back on the trading history of the past six months, every time they adjusted positions to pursue, they ended in failure.
If they had always adhered to the line of 'technological growth', or in other words, had always adhered to the line of 'big infrastructure', their fund's net loss would not have been so serious at all.
As the saying goes, too much movement makes too many mistakes. The trading process of their fund in the past six months really fully illustrates this sentence.
Yu Lei thought for a while and said: "I think we should not be trapped by the wrong trading strategies of the past. We should look more at the front and see the actual market trends, expectations, and emotional changes, and then... To make truly correct trading operations.”
“Judging from the actual trends, expectations, and emotional changes in the current market...”
"There is indeed no main line that has the momentum and expectations of the 'big infrastructure' line. At the same time, this line, under today's large-scale increase in volume, has also formed a substantial upward breakthrough trend. At present, whether we are in terms of sentiment, , financial aspects, and K-line technical analysis can all determine that the 'big infrastructure' line is the most suitable and most potential main line investment direction in the overall market performance. "
"Mr. Liu..."
Yu Lei's eyes were firm, he paused for a moment, and continued to persuade: "We must change the wrong trading strategy before, at least we can no longer put the main position direction on the 'technological growth' line, the 'technological growth' line After today’s trend, there is no upward momentum in the short and medium term.”
"If we don't make changes, the net value of the fund will probably continue to fall, which will be obviously detrimental to you and all of us."
Liu Guanhai listened to Yu Lei's continuous analysis of the market and thought about it for a while. Although he did not agree with Yu Lei's point of view, he could indeed see that "Technology Growth" had a trend of diving from high to high and falling in volume at the same time. There was a total flight, and buying funds were completely siphoned off by the re-emerging main line of 'big infrastructure'. In terms of short- and medium-term trends, there was really no chance, so I couldn't help but sigh again: "Okay, now that we have reached this point, we can only A dead horse is a living horse. Next Monday, we will cut off the chips on the main line of 'technological growth' and chase higher to get back the chips we lost in the 'big infrastructure'. Whether we live or die depends on these two months. "
Seeing that he had finally made up his mind, Yu Lei breathed a sigh of relief and began to sort out the fund's position data, and combined it with the closing results to formulate a specific investment and transaction plan for next week.
But when Liu Guanhai was depressed and reluctantly decided to adjust his position again.
In another fund trading room next door to him, Shao Xiaoyun, the fund manager of the 'Yinghui No. 2' fund product, also had his brows knitted together. He gritted his teeth bitterly and said, "Damn it, 'Yifangda'" Mr. Gao tricked me and asked me to increase my positions on a large scale in the two main areas of 'film and television entertainment' and 'domestic software', causing me to completely lose my bargaining chip on the main line of 'big infrastructure'. Not only was it perfect I missed today’s market and got trapped in the two lines of ‘film and television entertainment’ and ‘domestic software’.”
"Mr. Shao, what should we do now?" Trading team leader Liu Changling asked, feeling very depressed.
Shao Xiaoyun was so angry that he cursed himself that he really shouldn't have listened to the inside information, and responded: "What else can I do? Everyone can see that the line of 'technological growth' is dead. Let's liquidate the position next Monday without thinking." , Damn, I’ve completely missed the market for the ‘big infrastructure’ line, I’m so sorry.”
Before, he was following the main funds of the 'Yu Hang Group' in making orders.
Unexpectedly, this time...
He just had doubts about the main capital layout of the 'Yu Hang Group'. With a little sense of independence, he was quickly slapped in the face by the market, causing the fund's net value to buck the trend and retreat rapidly.
"It seems that we have to follow Mr. Su from the 'Yu Hang Department' to have meat to eat!" After pondering for a while, Shao Xiaoyun thought to himself, "Compared with Mr. Su, what are Mr. Gao, Mr. Shan, and Mr. Ning? Mr. Zhao...are all bullshit, no, not even a fucking bullshit!"
Same thing…
When Shao Xiaoyun took stock of the market performance and was filled with anger, he decided to decisively close the 'technological growth' line.
A series of institutional groups such as Modu Xin'an Financial, Yanjing Anlan Fund, Yuhang Minghui Capital, Yuhang Anzhao Fund, Yuhang Bank Public Fund, Shenzhen First Securities Self-operated Investment Department... have analyzed comprehensive market performance and sentiment expectations. After that, they all focused their attention and the focus of the next transaction on the 'big infrastructure' and 'military industry' fields where the main funds of the 'Yu Hang Group' are heavily concentrated.
And everyone unanimously focused on the main line of the market, "technological growth", which was extremely strong in the early trading.
Everyone began to take a rather pessimistic view.
Of course, at the moment when countless institutional groups secretly adjust their trading strategies, re-analyze the two main lines of investment in ‘big infrastructure’ and ‘military industry’, and firm up their investment logic, the public financial market information performance.
The investment consultants and chief analysts of various securities firms, as well as market financial influencers, stock commentators, and even many financial media reporters have also changed their tone and begun to talk about the "big infrastructure" and "big infrastructure" in the direction of the Shanghai Stock Exchange Main Board. According to the "military industry" market, many people, based on Su Yue's public speech on the market not long ago, called for a "bull market" and radically called on off-market investors to enter the market.
Just when the market sentiment turned sharply, discussions among market investor groups became more and more intense.
Market time finally arrived at 5:30 pm.
With countless pairs of eyes watching, the much-anticipated Dragon and Tiger List of the two cities was refreshed. There were nearly 2,000 stocks participating in transactions in the entire market, and a total of 31 stocks were on the list. Among the stocks on the list, they tended to be small and medium-sized stocks. , the main line concept stocks of 'technological growth' on the GEM, and the two main line concept stocks of 'infrastructure' and 'military industry' that are biased towards the main board, each accounting for 50% of the share.
Among them, 6 of the top ten stocks that investors in the two cities are paying attention to are on the list.
Of course, the main fund-related trading seat of the 'Yu Hang Series' that everyone is most concerned about and is looking forward to the most, that is, the trading seat of 'Fortune Road', continues to be on the dragon and tiger lists of the two cities today, appearing in 4 stocks on the list of buying and selling seats.
"Damn it, Mr. Su's 'Way to Wealth' is still selling LeTV stock today?"
After the Dragon and Tiger list was refreshed, everyone saw that the 'Fortune Road' seat was once again on the list, and it was on the buying and selling seat list of 4 stocks. Not only the discussion among the retail investors group exploded, but also the discussion in the main hot money group of Yuhang where Su Yu was located. The heat also exploded instantly, and countless friends were shocked.
"The most shocking thing is not that Mr. Su's 'Fortune Road' is still selling LeTV." Someone said in great surprise, "It's that Mr. Su actually increased his position in the 'Fushun Special Steel' check today, and' Mr. Su also participated in MCC’s check with a high amount of chips!”