My Fintech Empire

Thursday, June 25th.

Investors thought that A-shares had stabilized, but today's market took a turn for the worse again. The market index fell by 162 points, or -3.46%, to close at 4527.78 points. Stocks in the two cities plummeted on a large scale.

The overall average decline of the 22 stocks in Qunxing reached 8.25%. The sub-new stock WeChat fell sharply -7.39% to 36.23 yuan/share, with a market value of 797 billion; Toutiao today dropped to the limit, reported 144.72 yuan/share, with a market value of 180.9 billion; quantitative capital dropped to the limit, It was quoted at 763.66 yuan per share, with a market value of 1.0675 billion.

Today's sharp drop was somewhat unexpected but expected. Many short-term investors who were doing an oversold rebound chose to leave the market today.

Jian, who was in a state of shock, felt numb when he saw today's headlines crashing to the bottom again!

The funds in his account further hit a new low, with only 378,000 yuan left. Jian was completely numb. He sat in front of the computer and muttered to himself: "That's it, cut off your flesh? Cut your Magabi's flesh, anyway." You will always die wherever you go. If you don’t move your grave, I will see how low you can fall!"

…

The time has come to Friday, June 26, the last trading day of the week.

Today's A-share market can be summed up in 14 sentences: Thousands of stocks fell to their limit and the screen was green, and hundreds of millions of stockholders were everywhere in mourning.

The Shanghai Stock Index opened sharply lower than -2.82% in early trading. It reversed for about half an hour and then started to fall unilaterally. During this period, there was not even a decent rebound. Near the end of the trading session, the Shanghai Stock Index plummeted by more than -8.55%, and the ChiNext even plummeted by 9. percentage points.

More than 2,000 stocks in the two cities fell to the limit, and 22 stocks under the Group Galaxy were not immune to the disaster. The market index flashed nearly a thousand points in a short period of time.

As of the close of trading, the Shanghai Stock Exchange Index plummeted 334 points in one day, with a drop of -7.40% after the market closed at 4192.87 points, hitting a recent low.

At this time, many middle-class people with more than 10 million yuan, who are the mainstays in their respective fields, including people from the upper echelons of the financial circle, and there are many of them, realized that something was wrong and began to clear out their stocks, and they also cut their flesh. No matter what.

As for the very few entities at the top of the financial pyramid like Star Capital, they had already completed their evacuation a week before the market peaked.

…

In the afternoon, the news that Big A's stock price fell to the limit of 1,000 shares today also became a hot search topic. Major media focused on the violent fluctuations in the stock market, and people who did not trade in stocks also took advantage of this news.

At this time, Tian Jiayi came to sit down next to Fang Hong in the villa and said: "Our people turned into stock friends and added Jian as a WeChat friend through the vest account. Jian was chatting with him and told about his last ten transactions. He had a painful experience on the day, and even took screenshots to show him his account and the stocks he was involved in."

Tian Jiayi added: "At present, Jian is still deeply involved in the stock of Toutiao. His account funds have been reduced from 1.29 million to only about 340,000 yuan now. Not only has he lost all the income of the wealth fund, but also suffered a loss of principal. The cumulative loss rate in ten trading days was -73%, and he has broken the pot."

Fang Hong couldn't help but sigh: "Loss of 73 points in ten trading days, even if the position is full for ten days and the limit is hit by 10 times, it is only -65%. He can achieve -73%. Most people really can't lose as much as him. As a textbook As a negative case, Jian is far more competent than I expected; as a retail investor, I sympathize with his tragic experience. Let’s make him a hot spot on weekends.”

One code equals one code, and the popular ones still have to be sent up.

After hearing this, Tian Jiayi immediately stood up, picked up the phone, and called his subordinates to arrange the matter.

Jian's experience of sudden losses is not unique among the hundreds of millions of retail investors on the A-share market. In fact, in just these ten days, there are many investors who suffered losses of more than 40 points, and those who suffered even more misfortune than Jian. There are many, and he is not the worst one.

Those who engaged in over-the-counter capital allocation and leveraged several times have had too many positions liquidated in the past few days. Jian said that he still had 340,000 left. Those whose positions were liquidated had their accounts reset to zero, and even worse, even You may in turn owe a debt to a financial institution.

…

The next day, Saturday, June 27th.

The successive slumps in the market finally made the management a little bit unable to sit still. Just this morning, a big news came out. The central government enlarged its strategy and directly sent the good news of "double reduction", and made a simultaneous reduction of RRR and interest rate by 0.25 percentage point decision.

The trapped investors were waiting for some good news. The central bank launched the "double reduction" strategy, which stabilized their confidence in the market during the weekend. At the same time, it cut the required reserve ratio and interest rates, which was historically the case. Not common.

Fang Hong is also watching the news of "double cuts" at this moment. This is the first double cut by the central government in seven years. Although the RRR cut and the interest rate cut have been expected for a long time, choosing to announce it at a time after the stock market plummeted can be regarded as a rescue effort. The prologue, but Fang Hong still chose to sit on the Diaoyutai and wait for the changes, and had no intention of entering the scene.

This good news looks very exciting during the current weekend, but Fang Hong knows that this trick will not work and the market will not buy it at all.

After closing the "double drop" news, Fang Hong opened the Weibo homepage and logged in to his own personal Weibo account.

When I logged into the account, I saw that the number of private messages had exploded with 999+, and the comments under a recent dynamic blog post were also full of lamentations.

[What a loss! ]

[The account was cut in half within ten days, all the previous profits were lost, and it was cut in half! ]

[When the news came out on May 28 that Huijin had reduced its holdings in the four major banks and Qunxing had reduced its holdings in brokerage stocks, I originally planned to withdraw. After that, I withstood the sharp decline and rose until mid-June. At that time, I also planned to withdraw. I withdrew, and many stock friends I knew also planned to withdraw, but I didn’t withdraw. I just listened to XG’s speech and said that the market was not short of money, and I believed it. This also caused many people who had the foresight to escape from the top to stop running. Now it’s really I want to slap myself. ]

[I also regret it so much. The stars have started to withdraw. I actually imagined that the market would start at 5,000 points. I really deserve to lose money. I lost more than 20 points for playing in vain! ]

[I was wrong. I will never dare to do it again. If Qunxing withdraws in the future, I will never hesitate at all. ]

[Le, the sound of the last plunge is still ringing in my ears. ]

[I luckily managed to escape from the top, but I still have lingering fears. My strategy in the later period was very simple. I would reduce my position once the daily limit came. When I encountered a sharp drop, my position would have been almost reduced. I went to buy a car on the weekend of June 7th. I never expected that the stock market would peak on June 12th. ]

[I was lucky enough to escape the disaster, but the profits were retracted a bit, which was considered a decisive withdrawal. If it had been slower, it would have been the end. In fact, when you see the market continuously breaking through to 4500 points, you should decisively reduce or short positions, because there was not such a large retracement before this bull market, and the chips are already loose. You should withdraw when you need to, and don't think about making money. Anyway, don’t expect to be able to escape accurately every time, not everyone has the strength of God K! ]

[Although this sharp drop has led to a rapid drop of nearly a thousand points, most people should be in a state of high floating profits, so it is not very painful for the market. Of course, if you allocate funds with several times of leverage, I didn't say it, but ordinary retail investors shouldn't be able to use leverage or even use leverage several times to do it, right? ]

[God K, please come out and say something, I’m so confused! ]

[It’s all the fault of the one named Jane! ]

[Kneel down and beg God K to come out and say something and give me and other retail investors some direction...]

…