Rebirth of the investment era

"Mr. Su, do you really think this is the starting point of the bull market?"

Qin Qiuyue, who was talking to Li Meng, looked at Su Yu who was approaching with a smile and asked seriously.

Su Yu picked up a plate of snacks from the dining table next to him, took two bites, and responded with a smile: "What I think is actually not important. What is important is how Mr. Qin feels. After all, transactions are very personal matters, and everyone You can only make money within your own knowledge. Even if I say that this is the starting point of the bull market, and Mr. Qin doesn’t agree in his heart, can Mr. Qin completely change his trading strategy because of my one-sided words?”

"Of course not!" Qin Qiuyue said, "If you lose your self-judgment, even if you make money temporarily, you will lose it in the end. As the saying goes..."

Qin Qiuyue smiled and continued: "What you earn by luck will eventually be lost by strength."

"That's it." Su Yu nodded slightly, "The right or wrong of your views is not important. What is important is your inner cognition and the final execution of the trading strategy. In the first quarter of this year, Mr. Qin's 'Selected Mix No. 1' 'The product performance is good, which proves that Mr. Qin's understanding of the current market should be relatively thorough."

"The fund performance in the first quarter was good, but it was just luck." Qin Qiuyue said with a smile, "It can't compare to Mr. Su's massive speculation on the two main lines of 'infrastructure' and 'state-owned enterprise reform'. In other words...you don't have it." Any idea of ​​launching a new fund?”

"As far as I know, the current investor group in the entire market is extremely enthusiastic about your "Yuhang Series" fund products. The over-the-counter share transfer premium of related fund products is already above 20%."

"Under such a situation..."

"If Mr. Su launches new fund products, I estimate... it is not impossible for your Yuhang Investment Company's asset management scale to reach 50 billion."

“And the 50 billion private equity fund scale is basically the only one in China.”

"The time is not yet ripe." Su Yu said with a smile, "Besides, Mr. Qin thinks highly of us. It is extremely difficult for private equity products to reach a scale of 50 billion."

"Really?" Qin Qiuyue smiled, but didn't take it seriously.

"Mr. Su, what do you think of the future of the 'military industry' field?" While Su Yu and Qin Qiuyue were talking, Jingda Investment Fund Manager Lin Tingzong, who had had arguments with Su Yu before, approached again and asked with a smile.

When Su Yu saw him mentioning the main line of 'military industry', he knew that the other party must have carefully studied the position data of the 'Yuhang No. 1' and 'Yuhang No. 2' funds released before the holiday. He couldn't help being slightly surprised and turned his head to look at him. He glanced at it and asked with a smile: "What do you think, Mr. Lin?"

"Although the state has put forward some directions for the restructuring of military industry enterprises, specific expectations have not been expressed." Lin Tingzong said, "In addition, the information disclosure in this field is extremely opaque, and everyone has speculated about the performance of relevant companies in the industry. , almost all are blind people trying to figure out the elephant, and furthermore... the overall valuation level of this field is also significantly higher than that of white horses and blue-chip stocks on the main board, and is basically on the same level as a number of 'growth stocks' concept stocks in the direction of small and medium-sized boards and GEM."

"So, I guess..."

"Until the country's policy on the military industry is not further strengthened and future demand expectations are not further clarified, it should be difficult for this field to have sustainable market opportunities."

After hearing Lin Tingzong's analysis, Qin Qiuyue thought for a while and then added: "According to the past historical market analysis, the main line of 'military industry' is usually highly related to market news and policy trends, and provides continuous market opportunities. Not much, but a lot of pulse-type short-term speculation. It can be said that it is an industry field that large institutional capital groups hate, but market hot money groups are very fond of. "

"Mr. Qin is right." Lin Tingzong responded, and then said, "But I think...Mr. Su should have a different view on this aspect, right?"

"There is no different view." Su Yu said with a smile, "Both of you are right. The military industry sector is a sector where strong policy stimulation and strong news stimulation can produce band market trends. It has no significance for long-term investment, and short-term investment In terms of speculation, there is great uncertainty regarding policy stimulus and news stimulus, and no one can predict it in advance, so there is actually no need to analyze this sector."

"The two main funds under our 'Yuhang Investment' company..."

"I once tried to build a position in the military industry sector, but then gave up again when the expected news did not continue to ferment, and the main market line was not unanimously recognized by the main funds in the market. Currently, the company's funds are in the military industry sector. The remaining positions only account for a small part of the entire fund position and can be basically ignored, so... this does not prove that we are optimistic about the subsequent market situation of the military industry sector."

Su Yu didn't mind revealing the investment strategy plan that he had completed building a position.

However, he will not publicly disclose his position on certain strategic insights that are still being planned and may still have huge investment opportunities in the future.

After all, when the company's main fund has not yet made an impact investment strategy plan.

According to his current personal influence.

If one publicly discloses one's position on certain investment areas in advance, it will completely disrupt the fund's strategic plan, and at the same time, it will also add countless variables to changes in market conditions.

"That's it!" Lin Tingzong suddenly said, "Thank you, Mr. Su, for informing me."

He had previously felt that the position data released by the 'Yuhang No. 1' and 'Yuhang No. 2' funds related to positions in the military industry was very strange. No matter how he analyzed it, he felt that it was completely devoid of logic and market expectations, but he didn't want to... just It's just an accidental test of the position by the other party, not the main market direction that the other party is targeting.

"Mr. Su, congratulations to your 'Yu Hang Fund' for once again ranking first in the industry's performance rankings!" While several people were talking, Xu Zhongji from Minghui Capital also came over with a smile and bumped into Su Yu and Li Meng. Clinking glasses, he said, "In such a miserable market situation in the first quarter of this year, your fund was able to record a performance growth of more than 30%. It is really impressive and I have to admire it!"

Su Yu replied with a smile: "Mr. Xu, we are all old friends. You don't need to put a high hat on me, right?"

"Haha..." Xu Zhongji laughed, "This is not to give you a high hat. Our Yuhang financial circle has always lagged behind places such as Shanghai, Shenzhen, and Yanjing in terms of influence and talents, but now... it can be It’s completely different. The reason for all this is because of you, Mr. Su!”

"I can't afford what Mr. Xu said." Su Yu said with a smile, "This year, the performance of several of your main funds at Minghui Capital is not bad."

Xu Zhongji waved his hand and said with a smile: "The good performance is all due to the fixed increase of 'Lixun Precision', as well as the two main market trends of 'infrastructure' and 'state-owned enterprise reform' that recovered at the end of April. The rest of the operations are almost They are both losing money. Overall, compared to the performance of the two funds you manage, Mr. Su, it is far behind."

"I have seen the performance curve of the fund you manage..."

"This way up, there is rarely a retracement trend, which is really beautiful."

"Many famous figures in the industry have their own unique skills, such as timing, industry research, news speculation, and restructuring bets... But Mr. Su, you are timing, industry research, intelligence, selling points, and buying points. His abilities are perfect, he really has no shortcomings."

"No way!" Su Yu said humbly, "Sometimes...it's just luck."

The two complimented each other for a while, and then brought the topic back to the current market analysis. At the same time, Qin Qiuyue and Lin Tingzong also interjected from time to time when they heard what they were saying.

Afterwards, amid the heated discussions and conversations among everyone, the party gradually dispersed until 9pm.

After leaving the hotel, Su Yu and Li Meng returned home.

Li Meng changed out of his evening dress, then recalled the entire process of the party, and then asked Su Yu: "You are openly bullish on the market tonight and the two main lines of 'infrastructure' and 'state-owned enterprise reform', if 'Oriental Fortune' If the organizer of the group makes your speech tonight public, will it bring some trouble to you and our company?"

As the company's performance and size grow, the current 'Yuhang Investment Company' has received a lot of jealousy in the industry.

Therefore, in many aspects, Li Meng feels that he needs to be more cautious in his words and actions.

"No!" Su Yu said with a smile, "What I said did not involve any individual stocks held by our fund. Even if someone wanted to catch us using public opinion to manipulate stock prices, they would not be able to find the opportunity. As for the macro direction of long and short Opinion... Whether it is for industry managers or institutional practitioners, there are no restrictions and it is harmless."

"Yeah!" Li Meng nodded lightly and continued, "Through today's investment exchange meeting, I found that although the market's macro sentiment has gradually tilted towards the long direction, the group of investors who are actually bearish are still It’s no longer a minority, the market divergence… is still huge!”

Su Yu nodded slightly and said: "It has only been less than a month since the index rebounded from the bottom. Although it has reached 2200 points and broke through the bottom shock box, the complete reversal of bullish and short sentiment cannot be so fast. , but...this is also a good thing."

"A good thing?" Li Meng was a little surprised.

Su Yu nodded with a smile and continued: "Of course it is a good thing. The positions of investors from all walks of life, including major institutions, are very low at this moment. Although this shows that everyone still has huge doubts and doubts about the market outlook. Worrying, but it also shows that if the money-making market on the market continues, incremental funds outside the market will continue to pour in. As long as the money-making effect on the market continues, short-term market acceptance will not be a problem at all."

"At the same time, the positions held by various investors and major institutions are low."

"It also shows that investors on the market, in the previous continuous decline of the market, those who can cut off the meat have already done so. At this moment, in this range, the floating holding chips are not as heavy as we imagined."

"It's really yours." Li Meng smiled and said, "A bad thing can also be interpreted as a good thing."

Su Yu spread his hands and said, "It's just a factual analysis. Don't worry, the market will not be bad after the holiday. At least this round of rebound is far from reaching its peak in terms of time and space."

"Then...which position do you think will be the top stage of this round of rebound?" Li Meng thought for a while and asked again.

Su Yu pondered for a while and said: "It depends on the regulators, when will the adjusted IPO plan be restarted? It also depends on the subsequent market news. If the IPO plan will not be restarted for the time being, and the market news is good, , then this wave of Shanghai stock index has the opportunity to challenge 2,500 points, of course... This is an ideal state, in fact, we cannot accurately predict the future, we can only follow the market trend and constantly adjust trading strategies in a timely manner."

"2500 points!" Li Meng murmured and said, "If calculated according to the expected rebound space of the Shanghai Stock Exchange Index, then the two core main lines of 'infrastructure' and 'state-owned enterprise reform', and the related core popular leading stocks, will The probability should be doubled.”

"It's hard to say." Su Yu responded, "Let's just watch as we go. Everything can deceive people, but the flow of funds on the market cannot deceive people. Once a periodic top occurs, it will be very obvious from various market trading signs. It’s easy to see that you can just adjust your strategy when the time comes. No matter how much you worry or think about at this time, it’s useless.”

"Yeah!" Li Meng nodded and said, "What you said in your speech at the party, 'This is the starting point of the big bull market,' is it true or false?"

"What do you think?" Su Yu asked with a smile.

Li Meng thought for a while and said: "According to your logical inference, there should be no problem, but the market has been bearish for 6 years. From a psychological point of view, I still feel that it is a bit too optimistic."

"That's it." Su Yu replied, "This is called the difference in emotional expectations of market development. If even you think my judgment is too optimistic, then there is a high probability that a bull market will happen."

"There is also our previous judgment on the 'military industry' field." Li Meng continued, "Although we have disclosed some position data, judging from the discussions in various aspects, it feels that everyone has indeed not formed any market sentiment for this field. There are also flaws in expectations and investment logic. Do we... really want to continue to adjust positions in this area?"

Su Yu nodded and said: "Continue, in mid-May, there will be an internal meeting of the top management, and some news should come out. At the same time, almost all listed military industry companies are state-owned enterprises. Under the banner of 'state-owned enterprise reform', this The expectations of the field will gradually be reflected.”

"The reason why I didn't mention this topic tonight..."

“First, I feel that investment opportunities in this field are not yet mature. Second, I feel that there is a high probability that there are good investment opportunities in this field. We don’t want to muddy the waters in this field without our fund completing a position in this field. , resulting in excessive floating chips and difficulties in our subsequent position building plans.”

"Okay!" Li Meng nodded, "Then I will study it further."

After saying that, she turned and entered her room.

Su Yu glanced at Li Meng's graceful back and thought of her stunning appearance in her evening dress tonight. For a moment, he felt a little distraught.