Throughout the history of A-shares, the stock market has always been accompanied by large-scale bailouts, as far back as the 200 million yuan rush to rescue the Shenzhen Stock Exchange at the beginning of its opening, and as recently as the stamp duty reduction and the suspension of new stock trading in 2008.
But this time, with the 14-day plunge, many companies chose to suspend trading in order to avoid risks. As of the close of trading on July 8, the Shanghai Composite Index had fallen to 3501.19 points, and the GEM Index had dropped to 3501.19 points.
It fell to 2364.76 points.
As of today, the number of stocks suspended from trading in the two cities has reached 1,429, accounting for more than half of all listed companies. A-shares have staged a historical spectacle of suspension of trading in thousands of shares.
Whether you are an old investor or a new investor, the performance of A-shares since June 15th can be said to have refreshed their understanding. The stock can actually fall so low, and the trading suspension can be so casual.
A large-scale bailout has become imperative. In fact, starting from July 4, a series of bailout policies have been intensively prepared.
This includes the government starting to support the market, ordering brokers to directly inject capital to rescue the market, and suspending IPOs.
Companies such as China Securities Finance Corporation have also received trillions of yuan in liquidity support from the banking system and have become the main force in rescuing the market; at the same time, the China Financial Futures Exchange has continued to introduce trading restrictions on stock index futures.
The God of Wealth supports state-owned financial enterprises to increase their holdings. At the same time, the State-owned Assets Supervision and Administration Commission also requires central enterprises not to reduce their holdings, and analysts are not even allowed to make negative comments. It is no longer possible to issue a report like the one before by Shenwan Hongyuan.
A certain ministry even sent people to securities firms to severely punish malicious short selling.
In addition, there are two rescue measures taken by the China Securities Regulatory Commission. One is to restrict shareholders and executives of listed companies from reducing their shareholdings through the secondary market. The other is to require major shareholders and executives who have reduced their holdings to increase their holdings of stocks.
Times are tough.
The China Insurance Regulatory Commission also responded to the call for market rescue and encouraged insurance companies to invest in the stock market and raise banners. In mid-July, insurance institutions continued to buy stocks and stock funds on a net basis, amounting to 112.2 billion yuan. This also paved the way for the subsequent frequent raises of banners for insurance funds, sliding into "
Barbarians" laid hidden dangers.
Everything seems to be destined.
On July 8, after the market closed, Gu Junhao said to the five traders who had returned to their positions: "How many have you bought? Have you completed all positions?"
"According to the boss's instructions, we are almost ready to open positions, except for one stock which is still a little bit behind." Xu Jianqing said.
"If it's close, just buy it tomorrow. Build the position as planned, and then you allocate funds in proportion to the operation."
"Okay, I have something to do again, I'm happy." Xu Jianqing said with a grin. Seeing Xu Jianqing say this, the others also laughed.
To be honest, when I came to work on the first of this month, nothing happened. The boss was not here, and I and others did not have the authority to open positions, so I spent my days wandering around the company with nothing to do, occasionally staring at the market.
Due to the huge social impact caused by CRRC's retail accident, the ZF began to rescue the market on July 4. Not only major institutions, but also some well-known retail investors and private equity institutions in the stock market were notified.
Although Junshi Capital's currently operable funds include Junshi No. 2, the company's own funds and Gu Junhao's personal funds are only about 3.5 billion yuan, there are countless retail investors waiting and watching behind the 3.5 billion funds.
Since June 15, the news of Junshi No. 2 liquidation has been widely spread in the market. The subsequent series of stock market crashes have also proved Gu Junhao's judgment. This has led to Gu Junhao's fame growing during the stock market crash, reaching a level of
Out of the circle.
Under the background of the bull market, it is not difficult to make large profits with strength and luck, but it is not something that ordinary people can possess to be able to perfectly avoid the stock market crash and leave myself and my funds unscathed.
Gu Junhao, who has already become increasingly famous in the industry, managed to avoid the stock market crash thanks to this saucy operation, which also led to a rapid increase in followers for himself and the official account of Junshi Capital.
Under personal and official accounts, fans come to check in every day and ask when the stock market crash will end. This makes Li Xinyu, who helps Gu Junhao operate the account, dumbfounded.
Based on the capital volume of 3.5 billion yuan, Gu Junhao is not qualified to receive official attention, but his Junshi No. 2 net worth curve represents the confidence of a large number of retail investors. As long as Gu Junhao does not re-open positions in one day, this group of people will not
Enter the market.
Therefore, Gu Junhao also received a call from the local regulatory authorities, implicitly suggesting that he could buy some stocks and not keep his funds at zero positions all the time, at least let him look a little volatile.
Naturally, Gu Junhao could not refuse this request. Although he knew that the price would continue to fall, he still had to buy, so Gu Junhao also urgently ended his vacation and returned to Beicang on the morning of July 5.
After returning to Beicang, Gu Junhao didn't bother to rest, and went directly to the company to start arranging the plan to open a position on July 6. At this time, Xu Jianqing and others were already waiting in the trading room.
After receiving the call on the 4th, Gu Junhao had already informed Xu Jianqing and others that they would come to the company to work overtime on Sunday.
Over the weekend, some of the left-behind staff at Junshi Capital were shocked when they saw Gu Junhao suddenly appear in the company; Xu Jianqing and five other people had come to the company to work overtime before, but they didn't think there was any problem.
At this moment, the boss who was on vacation suddenly showed up at the company, and it was still on the weekend, so it was a little different.
"Damn it, the boss suddenly came back. Is this the bottom of the stock market?" Everyone was thinking about Gu Junhao's intention of coming back, but they didn't dare to ask.
Not to mention, Gu Junhao asked Xu Jianqing to secretly spread the news in the company, which still had a certain effect. Most of the company's employees who participated in stock trading escaped the disaster, and the retracement was not very large, and they all maintained their profits.
Only a very small number of people lose a very large proportion and the losses are very serious; however, there is nothing they can do about it. Many people will continue to move forward even if they know the danger.
The happiest people during the stock market crash were undoubtedly the customer groups of Junshi No. 2. Under the background of the bull market, even if they invested in Gu Junhao's private equity fund, these people would each buy some stocks.
The greed of human nature is incomprehensible. Even after learning about the liquidation of Junshi No. 1 and the liquidation of Junshi No. 2, some people will enter the market during the early surge or after the collapse, hoping to buy the bottom.
The stock market crash hit the market indiscriminately, and neither retail investors nor institutions could escape, and this part was no exception. Those who had invested more were mentally numb at the loss, but fortunately, the profits from Junshi No. 2 were still there.
The investors of Junshi No. 1 were not so lucky. Gu Junhao’s decision to liquidate early was both a good thing and a bad thing to some extent. Some people took the profits from Junshi No. 1 and
Watch the rising stock market re-enter.
Now that you have money, you feel that your decision to invest in Junshi No. 1 is an act of a stock god, so the same goes for buying stocks. Some people have even vomited out almost all the profits they gained from Junshi No. 1.
.
To be honest, July is not a good opportunity to build a position. Deleveraging cannot be completed in just half a month, and it has already entered a technical bear market. The confidence of investors in the two cities has been severely hit, but everyone has a strong understanding of the stock market.
There is still some hope for the rebound.
Not to mention that there will be frivolous operations such as circuit breaker in the future, there will also be a round of sharp decline in August and September. The current level around 3500 to 3600 points is not the lowest point of this round of the market at all.
If you really want to build a large-scale position, you must at least wait until the confidence of this new group of investors has been completely wiped out.
However, since he was hinted to enter the market by the local regulatory authorities, it is impossible for Gu Junhao to respond without response. The example of old Xu Tou is there. Even though this guy has been acting normally recently, he has not been happy for a few months.
There are various rumors in the grapevine, and some say that this round, Old Xu Tou made money that he shouldn't have earned, and cut off a certain team's bailout funds. The specific reasons are unknown, but Gu Junhao would not dare to mess around.
Gu Junhao also had his own idea of opening a position when he knew it would continue to fall, which was to buy some stocks that did not rise or fall much in 2015 and industrial chains that would explode in emerging industries in the future.
The first phase of Junshi Capital's self-operated trading has also been completed. Buy from personal accounts, funds and company self-operated trading. Since you can't avoid it, it must be real. You can't just use fund accounts to buy.
Any transaction you make can be seen by the upper management. All-round investment can leave a better impression and make it easier to do anything in the future.
In addition to these, in order to prevent the fund from being affected, Gu Junhao also specially selected a monster stock that was very famous in 2015. It was this monster stock that Xu Jianqing said had not completed the position building.
The historical trajectory is still the same. This monster stock, whose stock price is similar to its previous life, will most likely continue to be a monster.
As long as he continues to act like a monster, any drop in other stocks will not affect the specific income of Junshi No. 2. Gu Junhao has no choice but to do this kind of opportunistic behavior.
You must enter the market, but you cannot let the customer's interests suffer big losses. You must be responsible for the customer when you hold the customer's money, especially when everyone has suffered serious losses recently.
The customer groups of the two funds are quite concentrated. Although the Junshi No. 1 VIP customer group has been disbanded, Gu Junhao also knows from the Junshi No. 2 customer group that everyone has suffered losses recently.
Even Gu Junhao has received many calls from clients of Junshi No. 1, hoping that Junshi No. 2 will end the closed period as soon as possible and he can re-subscribe for Junshi No. 2 fund.
For Junshi No. 2, Gu Junhao has no plans to liquidate it like Junshi No. 1. After the closing period, it will enter an ex-rights process, and then normal subscription and redemption channels will be opened.
In this way, a group of old customers will leave, and a group of new customers will come in, just like public funds.