Chapter 344: Minfa’s Past and the Shocking IP Address
In his previous life, Li Xiaofan was also a senior stock investor.
Before coming to Singapore to work, he had queued up in Minnesota to buy the popular income bonds at that time, and borrowed the ID cards of villagers to buy the first issuance subscription coupons of Yongchenghuang Temple and Yonghualian stocks...
In 1993, he opened stock trading accounts in Shanghai and Shenzhen, and was considered one of the oldest stock investors in Minnesota. Later, he closed his stock accounts because he came to Singapore to work.
After Li Xiaofan returned to China in his previous life, he continued his hobby of stock trading while working.
Li Xiaofan was once a senior netizen of the earliest professional financial stock forums in China, 158 Hairong and Hexun Forum, and later the most powerful financial forums such as Minfa Colorful. Later, the founder of Taoguba, Fa Zai, was the network administrator of the Minfa Colorful Financial Forum...
At that time, a large number of traders and fund managers of major institutions liked to use various vests to hide in these forums. Some live broadcasted the rise of large-cap stocks to the daily limit, and some predicted the closing points of the market in advance with the accuracy of the decimal point, which made Li Xiaofan and others stunned!
When Li Xiaofan was hanging out in Minfa Colorful and other financial forums, he met a netizen named "wjmonk". In 2004, he first posted a long post to explore the investment price of Moutai stocks. More than ten years later, with the emergence of "Snowball", Li Xiaofan learned that the author of the article was really named Wang Jing, and later he was one of the partners of Xinpu Private Equity.
There was a central enterprise background institutional trader named "Zi Jin You Long", who live broadcasted the rise of Wuliangye to the daily limit in the post...
There was also a series of vests called "Whoever is right, listen to who.", which drew the K-line of the market for a year in advance. No one believed it at the time. Looking back after a year, my God, it is really almost exactly the same!
This godlike vest, when the network administrator Fa Zai checked his IP address, he was shocked. Oh my god, it was from a high-level confidential unit in the north...
In addition, Li Xiaofan had a classmate "Lu Jiehui" who was a member of the Jiefang Road Death Squad at that time, and he also learned a lot of market secrets from him...
In his previous life, Li Xiaofan was a wage earner and a part-time stock trader. Although the original capital was limited, he also made millions of dollars in the stock market.
However, later he invested all the money he earned from the stock market in several unreliable entrepreneurial projects, and then met several unreliable partners, and all the money eventually went down the drain...
But these hardships in the previous life are the most precious wealth for Li Xiaofan in this life!
...
Because he roughly knows the trend of the market and these bull stocks in 1996 in his previous life, when Li Xiaofan looks at the K-line of the market and the three stocks of Shenzhen Technology, Shenzhen Development and Sichuan Changhong, he has a feeling of "standing on the top of the mountain and looking down on all the mountains".
In particular, the main market makers' intentions of the three stocks, Shenzhen Technology, Shenzhen Development and Sichuan Changhong, were clear to him.
In the 1990s and early 2000s, the mainland stock market was full of market makers. Institutions, large investors and private equity funds all relied on "market makers" to make profits. The conventional practice would include several stages, such as building positions, pulling up, washing the market, main rising, shaking positions and pulling up shipments.
When small-cap stocks are going well, "market makers" can go through the whole process, but when some market makers become large in scale, it is not so easy to ship. The most typical example is the three horses of Delong, which finally collapsed in 2004, announcing the end of the old market maker model.
Another typical case is that Southern Securities hyped "Double Ha" at that time. It once held 102.69 million shares of Harbin Aircraft Industry Co., Ltd., accounting for 90% of the circulating shares. The number of circulating shares held in Harbin Pharmaceutical Group accounts for 93% of the circulating shares. The degree of control is so high that it is hard to imagine. These data were not known to the domestic "leeks" until the company's head and a group of "bankers" were prosecuted and made public.
As an old stockholder, in Li Xiaofan's memory, the mainland stock market has probably gone through three stages of bankers: the era of large bankers, the era of institutional bankers, and the era of industrial capital bankers.
The first stage was the era of large bankers from 1990 to early 1996, which belonged to the "wild era" of A-shares. The bankers in this stage were large households represented by "Yang Baiwan", who formed different consortia and shared the spoils together after agreeing on the speculation target. They had turned the only dozen stocks in A-shares upside down and created the first two bull and bear markets in A-shares. The typical banker stocks in this stage were Yuyuan Shopping Mall, one of the eight old stocks in Shanghai, whose stock price had been speculated from 100 yuan to more than 10,000 yuan. After the stock price of Yuyuan Shopping Mall broke through 10,000, its price "pierced" the display screen in the hall of the Shanghai Stock Exchange. At that time, the maximum unit of stock price when the display screen was set was only 1,000 yuan. The original designers never thought that one day a stock with a face value of 100 would be sold for more than 10,000 yuan!
The current mainland stock market is entering the second stage: the era of institutional market makers from early 1996 to 2003, a "Warring States Period" in which many A-share market players emerged.
The domestic super bear market from early 1993 to early 1996 wiped out most of the big investors who had made their fortunes at the beginning.
Therefore, when the new bull market came in early 1996, those former big investors no longer had the strength to call the shots in the stock market.
Moreover, the market value of all stocks in the Shanghai and Shenzhen stock markets in 1991 was only 13.8 billion, and after 1996, the market value of the two stock markets reached 1.5 trillion after the stock market expansion, more than 100 times.
Therefore, the powerful institutions represented by securities companies and private capital have made their debut and officially stepped onto the historical stage. They replaced the big investors and became the protagonists of the stock market, and opened a new era of institutional market makers.
In Li Xiaofan's impression, there were many powerful market makers at this stage, and the typical representatives were: Junan and Nanfang in the securities companies; Zhongke, Delong and Yongjin in private enterprises. In addition, there are many independent market makers, such as Luo Cheng of Yian Technology...
The current institutional market makers are: a combination of capital promotion and theme injection.
Its characteristics are that these institutions and private capital have strong financial strength, stronger control over stock prices, and can almost speculate on stocks at will.
Previously, the funds that big investors like Yang Baiwan could mobilize were only at the level of tens of millions of yuan, so the amount of funds that institutional market makers can mobilize now ranges from hundreds of millions to tens of billions, such as Nanfang. Later, the total amount of funds mobilized by Delong was more than 30 billion yuan.
Therefore, with the super strong financial strength of this banker organization, even super large-cap stocks like Shenzhen Development Bank and Lujiazui at that time could be easily hyped up by them.
Theoretically, as long as there was financial strength at that time, a stock could be hyped up to any height. There was no highest stock price, only higher, no price-earnings ratio, only the so-called "price-dream ratio" learned from Wall Street!
Li Xiaofan opened the information of the three stocks and looked at their current equity structure:
Shenzhen Technology has a total share capital of 200 million shares and 41.2 million shares in circulation;
Sichuan Changhong has a total share capital of 500 million shares and 150 million shares in circulation;
Shenzhen Development Bank has a total share capital of 430 million shares and 290 million shares in circulation.
The current circulation plate of Shenzhen Technology is very small, and the current circulation market value is less than 200 million, and the stock price is easily manipulated. Therefore, the increase in this bull market that started in 1996 was also the largest. By the end of the first half of 1997, the stock price of Shenzhen Technology had skyrocketed by almost 60 times after the adjustment of rights!
Compared with Shenzhen Development and Sichuan Changhong, the market is larger, suitable for larger capital inflows and outflows, and not easily discovered by the main market makers.
In this big market trend launched in 1996, Shenzhen Development's stock price rose 14 times, and Sichuan Changhong's rose 11 times!
Li Xiaofan began to consider how to allocate his 15 million stock trading funds.