The investment era of rebirth

Chapter 139 Valuation Trap

Hearing Su Yu's words, Yang Hao's expression gradually became serious.

He didn't think about his own problem before, but at this moment... after Su Yu's reminder, he thought about it carefully and found that it was indeed the case.

After he broke with his father, as one of the major shareholders of the group, and after his mother died, a group of old people who remained in the group rebelled against the uneven distribution of interests in the existing group board of directors. He has indeed become a banner for some people The biggest obstacle on the road to the pursuit of core interests.

"You also said..."

Su Yu paused for a while, then continued: "Chen Qingnian of Raytheon Security Company was a ruthless person in the stage of making a fortune from the 90s to the new century. For such a person...many bottom lines may be broken through. Now you You have already broken openly with your father, I think you should pay more attention to your own safety in order to avoid accidents."

"Thank you, Brother Su, for your reminder." Yang Hao pondered for a while before replying, "But if Chen Qingnian can really stand up to deal with me, I think... I'd be very happy to see it, after all, it's really confirmed My guess is that the so-called 'if you don't enter the tiger's den, you won't catch the tiger's cubs', I am willing to bear the risk."

In Yang Hao's actual appeal, his core goal appeal is not actually the control of Kumho Group.

Instead, he wanted to find out the truth about his mother's death in a car accident, avenge the dead mother and his loved ones, and give them justice.

As for the group's disputes, he didn't think much about winning or losing at the shareholders' meeting.

Of course, if he can follow his speculation...

In order to force out the forces of the Chen family hiding behind his father and find out the truth of what happened back then, he doesn't mind using himself as 'bait' to catch the big fish 'Chen Qingnian'.

"Okay!" Su Yu nodded slightly, and said, "I have said everything that needs to be said, and you have an idea of ​​how to do it."

"En." Yang Hao nodded in response.

Afterwards, the two continued to chat for a while, and they left after lunch.

By the time Su Yu returned to the company, it was already 1:32 pm. After the continuous correction and shrinkage of the three major indexes in the past few days, they have returned to their upward trend today.

"How?" Su Yu came to the trading day and asked Li Meng.

Li Mengmeng sat down at the computer station next to him, and said with a smile: "The upward trend of the index has continued the strength of the morning, and no matter the main board or the ChiNext index, they are all rising in large quantities. The popular sectors and concept hotspots are also rebounding sharply, and it seems that the adjustment of the index should be over in the short term.”

"And as you guessed earlier..."

"The largest corrections in this round of stocks we have built positions in are about 20%. Among them, Netspeed Technology, LeTV, and Fenda Technology have been continuously attacked by market funds. The adjustments in this round are all Within 10%, now...these stocks are approaching new highs in the previous period."

"It seems that the trend of institutional funds flowing into the core constituent stocks with good expectations in the future has not stopped." Listening to Li Meng's report, Su Yu hurriedly turned on the computer, switched the interface to the stock market trading market, and continued with a smile. , "What about the future 'Shanghai Free Trade Zone' concept stocks that we will build a position in? Is there any movement recently?"

Li Meng replied: "No, Lujiazui, Shanghai Stock Trade, Shanghai-Hong Kong Group, Pudong Jinqiao, Jinjiang Investment... These concept stocks related to the 'Shanghai Free Trade Zone' that we have proposed are almost gone since we first opened positions and intervened. It's been a week, but the entire market, except for the traces of our capital intervention, basically...no other major capital movements have been found, Mr. Su...about this news..."

Li Meng was thinking all the time.

Regarding the major strategic news about the country's macroeconomic layout of the "Shanghai Free Trade Zone", small private equity institutions like them can get some rumors in advance, so... all institutions in the whole country must have received such rumors If there is wind, there will naturally be big financial institutions making the same layout and choices as them.

But now... the development of things seems not to be like this.

They have been involved for a week, but all the main funds in the entire market have not paid any attention to or intervened in the main line of the 'Shanghai Free Trade Zone'.

This made Li Meng seriously suspect that the news Su Yu got was pure rumors.

"It's okay, just wait patiently." Su Yu said, "It's still half a month before August. The truth and falsehood of the news will always become clearer and clearer when the time comes for cashing in. Now... don't Don’t worry, just continue to implement the investment strategy we formulated at the beginning.”

"Okay!" Li Mengmeng and Su Yu insisted, so he didn't say anything.

"Have the positions of all stocks been completed?" Su Yu stared at Waigaoqiao, which was still fluctuating with the index, and continued to ask.

Li Meng replied: "The three checks of Lujiazui, Shanghai Stock Exchange, and Shanghai-Hong Kong Group have established positions of 5000 million each, and Pudong Jinqiao and Jinjiang Investment have established chips of 3000 million each, with a total of 2.1 million new positions. , Not counting the newly established positions on your side, the overall position line of the fund is already close to full."

"Okay!" Su Yu replied, "I won't be busy adding the remaining funds."

"En." Li Meng responded, staring at the market for intraday trading operations, and no longer continued to increase positions in concept stocks related to the "Shanghai Free Trade Zone".

Su Yu locked his eyes on the three stocks of Shanghai Steel Union, Jincheng Fenjiu, and Waigaoqiao.

I looked at the three stocks in the account, with a total of 1.2 million positions, and the remaining cash of more than 3000 million, but there was no action.

He is waiting, waiting for a new market opportunity to appear.

Then use the holding chips in your hand to launch a sniper attack on the main holdings of Jingda Investment, a private equity institution.

In his patient waiting and observation.

Closing at 2030 o'clock in the afternoon, the stock index finally returned to the 3 point mark, while the ChiNext Index rose again by more than 1100%, returning to the 5 point point. Among them, Netspeed Technology, Fenda Technology, LeTV, Dongfang Fortune... Numerous core constituent stocks, including the stock price, have soared by more than [-]%, and several of them have hit new highs in the previous rebound in one fell swoop, breaking history.

And among the stocks that Su Yu pays attention to...

After going out of the sky, the Shanghai Steel Union encountered two consecutive lower limits. After several days of downturn adjustments, it finally got its shame today and reached the daily limit, closing at 21.73 yuan; the stock price of Jincheng Fenjiu closed at 13.36 yuan, an increase of 2.13 %, similar to the increase of the Shanghai Index, the trading volume is still sluggish, and the intraday turnover is only more than 7000 million; the stock price of Waigaoqiao closed at 13.15 yuan, and the increase is also similar to the increase of the Shanghai Index. There is no independent trend, and the intraday turnover is also sluggish. There is no trace of other major capital attacks.

After the market closes, at five o'clock in the afternoon.

Before the announcement of the new Dragon and Tiger list, Su Yu paid attention to and held more than 4000 million Jincheng Fen Liquor, and released the semi-annual performance report. Compared with the previous year, there has been a certain decline, but the company also stated in the report that this impact is temporary. In the second half of the year, after the "plasticizer" crisis calms down, the performance will definitely improve.

Facing such a report...Su Yu was delighted in his heart.

Of course, his joy was not because of the improvement in the fundamentals of Jincheng Fenjiu and the expectation of a reversal in the stock price, but because he felt that this not-so-bad report was enough to make Jingda Investment, which had a heavy position in it, feel happy. With a little hope, he will not be out of the market, and it will be more conducive for him to use this stock to attack Jingda Investment, a private equity institution.

After more than half a year of decline in the wake of the 'plasticiser' crisis.

In fact, the valuation of the entire liquor sector is quite low. For example, Qianzhou Moutai, a leading stock in the liquor sector, has fallen below 15 times the PE. Based on last year's profit and dividend calculation, even if the profit does not increase, the dividend rate It has also been greater than 5%, which can be described as underestimated.

But Su Yu knew that when market expectations, that is, the fundamentals of the industry completely changed and deteriorated.

In fact, the underestimation of the stock price is a valuation trap.

He knows that in the future, with the further tightening of "three public consumption", with the widespread implementation of "drunk driving punishment", and with the impact of the "plasticizer" crisis, the performance of the liquor sector will continue to be under pressure, and due to The entire market capital is subconsciously avoiding the liquor sector. Currently, the valuation of the liquor sector with a PE of 15 times will continue to be compressed. Even many third-, fourth-, and fifth-tier liquor brands have suffered a series of losses and are on the verge of delisting from ST. .

With this future scenario in mind...

The liquor consumption sector, which seems to be seriously underestimated at present, is a proper investment trap no matter how good the current performance is.

After the release of Jincheng Fenjiu's semi-annual report results, in the discussion of the entire market, the main core fund managers of Jingda Investment, which has a heavy position in this stock, also had a wave of heated discussions.

In the end, everyone agreed.

Said that the valuation of Jincheng Fenjiu has dropped to 12 times the PE, and the profitability is not bad. The impact of the "plasticizer" crisis is also slowly dissipating. There is no room for the stock price to fall, so it is decided to continue to hold the position , Waiting for the simultaneous reversal of performance and stock prices.

And two hours after Jincheng Fenjiu announced its semi-annual performance report, that is, at 7:[-] p.m.

Amid the heated discussions about Wangsu Technology, Fenda Technology, Huaqingbao, and Changqu Technology’s performance doubled, and the future can be expected, stocks such as Waigaoqiao, Shanghai-Hong Kong Group, and Shanghai Steel Union also released half-year report performance.

It's just different from the beautiful financial reports of Netspeed Technology, Fenda Technology, Huaqingbao, and Changqu Technology.

The semi-annual results of Waigaoqiao, Shanghai-Hong Kong Group, and Shanghai Steel Union were poor, and they fell a lot compared with last year.

Of course, among them is the financial report of the Shanghai Steel Federation. Everyone discusses it with the highest enthusiasm and enthusiasm. After all, this check has been hyped by hot money in the market for a month and a half. The trend is either a daily limit or a daily limit. It has increased by almost 5 times, regardless of popularity and popularity, it is extremely high.

(End of this chapter)