The investment era of rebirth

Chapter 113 The Eve of the Storm
"Director Wang?" Su Yu whispered.

I flashed the situation at the hotel that night in my mind, understood it, and said: "What is the basic task your leader gave you? I have a little spare money in my hand, but it is not much, and I need this money at any time." If you use it, you can put it in your bank for three to five days, but it won’t work for a longer period.”

His current account opening bank is Chinese Commercial Bank.

As the largest domestic bank and known as the "Universal Bank", although the Chinese Commercial Bank misjudged the central bank's currency strategy, under the current circumstances, it will also be affected by the market's "money shortage" crisis, but its ability to resist risks The ability is always the strongest in the domestic banking industry.

in other words……

The money in his hand is nothing more than a drop in the bucket for Chinese Mercantile Bank, and the deposit and withdrawal have little impact.

But for a local commercial bank like Qianjiang Bank, it is different.

The relationship between Huang Yu and him, although it can't be said to be a good friend, but after all, we can still chat a few words, like this kind of effort, giving charcoal in a timely manner, and it is also beneficial to his own interests, he has no reason to refuse.

"The basic task is 700 million..." Huang Yu said, "Of course, if Brother Su can deposit more funds in our bank and attract more customers to deposit funds in our bank, as long as the demand deposit period can For more than 7 days, I can personally rebate Su Brothers at an annual interest rate of 1% in the form of daily interest settlement."

"700 million..."

Su Yu pondered for a while, and said, "Okay, you can send me the address of your branch, and I will come to open an account tomorrow."

"Then thank you Brother Su." Huang Yu said very gratefully, "If you need my help in the future, just ask, as long as I can do it, I will never refuse."

"Okay!" Su Yu replied, chatted for a while, and hung up the phone.

Immediately afterwards, he turned his attention to the stock market, and saw that at this time, the stock market had already closed, and the stock index had fallen to 2073.11 points after repeated falls, which was only one step away from the previous support mark of 2000 points However, the ChiNext Index, during this period of continuous decline in the Shanghai Stock Exchange Index, has instead stayed sideways near the 1000-point mark, and has been oscillating back and forth between 1000 and 1025 points.

As for individual stocks...

The stock price of Shanghai Steel Union, which Su Yu previously sold out of, hit a rebound high of 20.36 yuan. In the adjustment of more than ten days, the stock price has fallen to 15.23 yuan, a correction of almost 25%, and the intraday turnover has shrunk. It is less than 1 million yuan, but the market sentiment is still undiminished; the stock price of Huaqingbao has fallen from the highest to around 40 yuan, and now it has fallen back to 31.25 yuan, and the market attention is still at a high level.

Netspeed Technology and Fenda Technology.

Under the premise of money shortage in the market, institutions that entered in the early stage have withdrawn funds one after another to avoid market risks, the withdrawal is similar to that of Shanghai Steel Union and Huaqingbao, and does not reflect stability.

Now, the stock prices of the two stocks are fixed at 43.67 yuan and 15.46 yuan respectively, and the market values ​​are 87.34 billion and 23.19 billion respectively.

LeTV pulled back about 10%.

Straight Flush and Oriental Fortune did not move much, and have been trading sideways at the previous price, following the fluctuations of the GEM.

Seeing the trend of these stocks in the past ten days, as well as the sharp correction of early popular concept stocks in the entire market, and the low-level ChiNext stocks that no one pays attention to and no institutional holdings, are living sideways under the situation of Shanghai index weight stocks chattering. .

Su Yu is more clear about the certainty of the bottom of the market.

He carefully checked the main falling stocks and main falling sectors in the entire market during this period, and found that they basically gathered on the main board's big finance and institutional holdings of white horses, blue chip stocks, and the core concepts of the GEM's high position.

That is to say...

During this period of time, the major decliners have always been the heavyweight stocks held by institutions.

As for the core popular concept stocks on the GEM, the reason for their sharp correction is more affected by the market sentiment in the continuous decline of the Shanghai stock index.

But the same...

In the main board market, except for the big finance, white horse, and blue chips with heavy institutional positions.

Many other unnoticed and unpopular small-ticket trends are basically the same as most constituent stocks of the ChiNext Index. When the Shanghai Index fell, they no longer chose to follow, but chose sideways.

After a brief review, Su Yu checked the news in the two groups he had added.

Judge the water level of market sentiment.

only see...

In the retail student group, there were not many complaints from everyone, and the whole group seemed very quiet, and there were not many people talking. Compared with ten days ago, the lively scene was greatly reduced; It is hot, but most of them are complaints, all complaining that the recent market is difficult to do, and there is no sustainability at all.

After Shanghai Steel Union opened up nine boards in the market.

In the entire market, in these ten days, not only no other individual stocks could break through to this height, but also the number of individual stocks that were able to achieve chain linking was also decreasing.

In recent days, with the stock index falling again for four consecutive days.

Even the natural daily limit of the second consecutive board has become very scarce, and often the first board is blocked, and the funds in the market will flee on a large scale the next day.

Even after a daily limit.

On the second day, in order to rush away, the funds directly opened sharply lower and suffocated a lot.

"Hey, the total turnover of the two cities has fallen again today. This is the fifth consecutive trading day, right? I feel that if it falls again, it will return to the second half of last year and the extreme liquidity in January and February today. There is a shortage, and the dark days when the turnover of the two cities is less than 300 billion."

In Su Yu's main hot money group, some people complained helplessly.

"In April and May, the market continued to rise, and the ChiNext Index even hit 1100 points. The turnover of the two cities also rose continuously month-on-month. I originally thought that after such a long period of downturn, the market should have bottomed out and reversed. Come to think of it... the June Sap is really going back to the original point."

"It's June 6 today. Since June, the Shanghai Stock Exchange has only had three trading days in the red market. Can you believe it? And in the three days of the red market, there was another day with an increase of 21%. It's simply..."

"Finally followed Brother Su to make a little profit on the Shanghai Steel Federation, and now I have lost all of it."

"This month is really difficult..."

"The market's fall is a bit unreasonable. The market doesn't seem to have any special bad news. As a result, it's not the end of the month yet. The Shanghai stock index has fallen by more than 10% since the beginning of the month. This is an index, and it's still at a low level of around 2200 , It can fall so much in half a month, it is unimaginable."

"The ChiNext index has fallen a lot this month, but somehow it outperformed the Shanghai index."

"Judging from the trend of the entire GEM, it's not that bad, but the continuous profit-making effect of the entire market is too bad. I feel that playing the board to make an emotional premium is completely inappropriate in the current market."

"Short-term emotional investing is not enough, let alone trend investing!"

"Looking at the market trends in the recent period, the ones that have killed the most are the stocks with a lot of institutional holdings, and even the medicine for crossing bulls and bears is not effective."

"It feels like institutions have entered a prisoner's dilemma of passive selling?"

"It seems that there are signs..."

"If the Shanghai stock index continues to fall by another 10%, I am afraid that most of the institutions in the market will have to be forced to liquidate."

"If it goes down by 10%, it will break a new low in 4 years! Is the stock index going to hit the low point in 08? Isn't it?"

"Who knows? Judging from the current trend, it is indeed bottomless!"

"In fact, the market valuation is already very low, even lower than the worst time in 08. Looking at the banking sector, the average price-earnings ratio has fallen to around 4.5. Can you believe it?"

"Haha... yes, even if I don't trade in bank stocks, this price-to-earnings ratio is really unprecedented."

"One or two years ago, those institutions that called for this sector to be a depression in the market's valuation have lost money so far that they have to be liquidated, so... Bank stocks, looking at the price-earnings ratio is useless, right?"

"The price-to-book ratio is also miserable. They have broken their net one after another, and the lowest has fallen to 0.6."

"But recently, the big finance led by banks has fallen the most."

"Since 08, amidst the central bank's large releases, the off-balance-sheet assets of banks have expanded severely. Both the price-earnings ratio and the price-to-book ratio are inflated. It depends on the provision ratio and bad debt ratio, otherwise... I think that no matter how low the price-to-earnings ratio or price-to-book ratio is, it doesn’t make any sense.”

"Brother Su hasn't shown up recently, what's going on?"

"I heard that Brother Su has opened a private equity fund, so he should be busy with the company's affairs, right? But the market is really bad recently, even if Brother Su makes a move, there is no chance of winning, right?"

Su Yu watched the discussions in the group silently.

Knowing that the market is at this time, the investment sentiment has already reached freezing point.

However, due to the shortage of money in the market in the domestic financial industry, major institutions have sold securities assets to return capital flows, which has also caused more institutions to passively lighten their positions due to the decline in net worth, suppressing the market rebound in a chain reaction.

But Su Yu knew...

Once this continuously suppressed emotion finds an outlet, it will inevitably burst out in retaliation.

It's like a spring being compressed to the extreme.

When the force applied to the spring is suddenly relaxed, the spring is bound to bounce back quickly.

And under the atmosphere of money shortage in the entire market, under the growing fear of everyone, the power of the central bank to save the market is the outlet for that emotion.

"Mr. Su..."

While Su Yu was meditating, Li Meng walked into his office and said, "The president of the Fortune Center Sub-branch of Huashang Bank, that is, President Zhou, called me and hoped to invite you to dinner tonight. I listened to what he meant. , I hope that the custody funds raised by our 'Yuhang No. 1' have not been transferred to the securities account, so that they can not be transferred to the brokerage account, so that they can stay in their branch for a few days, this... What do you think?"

The other party's phone call was made less than half an hour after Su Yu transferred part of the fund custody funds to the Huashang Securities capital trading account.

So, its purpose...

Li Meng thinks that it is quite clear.

"President Zhou?" Su Yu was stunned for a moment before recovering, "It's the branch where our funds are managed, isn't it?"

"Yes!" Li Meng nodded.

Su Yu chuckled, and said, "Unexpectedly, even Chinese Commercial Bank has started to lock up the cash flow of large households in the bank, trying to prevent large households from withdrawing money and transferring funds out. It seems...the market has reached a serious shortage of money. This is the end, this weekend... something big will happen!"

Even a giant bank like Chinese Commercial Bank has begun to tighten its cash liquidity.

As you can imagine...

Many local commercial banks must have panicked.

"Then...see you?" Li Meng asked, "If you don't want to meet, I'll push it away."

Su Yu thought for a while, and said: "In the future, we should have many opportunities to deal with the banking system. The Fortune Center branch of the Chinese Mercantile Bank can be regarded as a core branch. The future of this President Zhou is still very bright. I still want to see you... ...and see what he can say!"

"Okay, then I'll inform President Zhou."

Li Meng responded, and then left the office.

Then, at 6 p.m., after get off work was officially off, Su Yu and Li Meng came to the private room of the hotel invited by President Zhou at the appointment.

I saw that except for President Zhou.

Several other core managers of the Fortune Center Branch of Chinese Mercantile Bank were also present.

It can be said to be a very high invitation standard.

"President Su...don't come here without any problems." President Zhou hurriedly stood up and reached out to shake hands with Su Yu, "I really didn't have time to get away yesterday, and I couldn't join the company face to face, so I can only invite President Su alone today. To redeem some regrets of not being able to be there yesterday."

Of course, having said that...

In fact, it was just that he was not optimistic about or paid attention to the newly opened private equity firm 'Yuhang Investment'.

I feel that the other party will not raise funds publicly under the current investment environment, and the scale of its new fund can exceed 2000 million, which is very popular.

And the incremental business of 2000 million...isn't worth the President's support in person.

So, he didn't go at that time.

Unexpectedly... the final fundraising results reached 4 million yuan.

The 4 million incremental business, although it is a fund custody business, is already considered very heavyweight for his branch.

Moreover, the timing happened to be at the time when 'the whole market is inexplicably and extremely short of money'.

Then he had to come forward to win over Su Yu.

And, in addition to this reason, there is a more important reason.

That was this afternoon, the branch leader gave him a death order, requiring him to stick to the bank's stock of funds, and to prohibit lending funds to other branches in the form of interbank lending.

This made him smell something unusual.

It seems that the "money shortage" crisis in the entire market has begun to get out of control and is developing to the edge of being out of control.

Therefore, he immediately contacted Li Meng, trying to persuade Su Yu to let the custody funds of the 'Yuhang No. 1' fund stay in the sub-branch for a few more days, so that he would have more room to turn around and deal with the crisis.

Although the Huashang bankers have a big business, even if there is a run on the entire banking system.

With the support of the branch and the head office, the sub-branches can survive no matter what.

But on a personal level...

That is to say, if there is a risk control problem in the branch he is in charge of, even if he can survive the crisis in the end, his own future will also be ruined.

Therefore, in order to prevent this kind of risk from happening to yourself.

Even if there is only a slight hint, he will nip the risk in the cradle to ensure his own safety.

"President Zhou is polite." Su Yu said with a smile, "I can already feel President Zhou's intentions if I can eat the meal that President Zhou ordered today."

Said, Su Yu sat down with a smile.

Then, under President Zhou's introduction, he, Li Meng, and the others also greeted each other.

Immediately afterwards, in the gossip and greetings, the wine went through three rounds and the dishes tasted five flavors.

Only then did President Zhou reintroduce the topic to the main thread, and said: "Recently, our sub-branch has been under a bit of financial pressure, and the branch and the head office are under tight control, so we hope that Mr. Su can let the funds of the 'Yuhang No. 1' fund be able to In our escrow account, keep it for a few more days."

"This way ... we can have more balance to cover other business expenses."

"Of course, during the deposit period, our bank can pay interest on the retained funds according to the overnight repurchase rate published in the market."

"No problem." Su Yu said with a smile, "Anyway, the market is closed on Saturday and Sunday."

"However..." Su Yu paused, and then said, "During the opening of the market, what I can promise President Zhou is that we can transfer in funds as the company's fund building progresses, instead of doing a one-time transfer. The balance of funds left in your bank should be buffered, what do you think?"

President Zhou was silent for a while.

Think of 'Yu Hang Investment' is a private equity fund investment company after all.

It is definitely unrealistic to ask the other party to keep all funds in the sub-branch and maintain a long-term short position. After all, from the perspective of the other company's business strategy and fund investors, this is obviously contrary.

So he pondered for a while, then couldn't help but nodded and said, "It's also... that's okay."

"However, I still hope that Mr. Su can keep at least [-] million in funds within a week, and keep it in our bank. Look... will it work?"

After the other party made concessions, this was his minimum request.

"Yes!" Su Yu said, "President Zhou speaks in person. If I don't agree to this condition, then it will be disrespectful to President Zhou."

"Ha ha……"

Zhou Xingchang laughed, and was very happy to see Su Yu agreeing: "Then I owe Mr. Su a favor, and Mr. Su can use my old Zhou's place in the future, so please feel free to speak up."

"With President Zhou's words, I will make a lot of money."

Su Yu laughed and said, "Once President Zhou opens his golden mouth, a favor is at least worth a thousand gold!"

In his plan, when he borrowed leverage to move the land in Ancai Paper's hands, he would definitely need bank loans to support it.

So, in his opinion...

At this time, by taking advantage of the influence of the 'market money shortage', it is absolutely not a disadvantage to establish some contacts and accumulate some favors in the banking system.

What's more, before the opportunity to build a position in the market has not emerged.

There is nothing wrong with earning a little interest money from within the bank.

After all, no matter how serious the crisis of money shortage in the market is, can the central bank still do nothing?Let the risk of the entire system spread like this?
Therefore, no matter how he chooses, there is a financial risk.

There is no need to worry at all.

"Where, where..."

President Zhou didn't expect Su Yu to be so easy-going and polite. For a while, he felt a lot of goodwill and trust in him, and said with a smile, "Mr. Su is a young hero, a future star in the business world, to be honest... The fundraising scale of the 'Yuhang No. 1' fund is very surprising. In the current internal sales of our bank, there are actually not many pure stock investment funds with a scale of more than 4 million."

"President Zhou is absurd." Su Yu said, "Our 'Yuhang Investment' has just started, and there is still a long way to go in the future. President Zhou will praise me too much. I'm afraid I haven't climbed to the high point you said. , and it fell off, that would be ugly."

"Haha, President Su was joking." President Zhou said, "I have heard about your investment in the stock market recently, and I really admire it."

The two continued to chat with each other flatteringly...

It wasn't until nine o'clock in the evening, except for Li Meng, that everyone drank a lot of wine and had a good time with each other before they dispersed.

When he got home, Su Yu felt a little dizzy after drinking, so he briefly exchanged a few words with Li Meng, and then he washed up and went to bed early.

Then, when he woke up the next day, he was faced with a dozen missed calls on his phone.

He just found out...

In the information push, the money shortage crisis in the domestic financial system exploded overnight, and the overnight repurchase rate and interbank lending rate of banks soared from the average exchange rate of 4.5% yesterday to more than 15%.

(End of this chapter)