Li Yan tilted his head and looked at the door, then turned around and looked at Wu Zhilin again.

At this time, there were only two people left in the empty room, Li Yan and Wu Zhilin, and Teacher Dao went out to send those "tea guests" and had not yet returned.

"Do you think your eyes have seen everything?" Wu Zhilin sat next to Li Yan, frowned, and muttered to Li Yan.

"Huh, what are you talking about?" Li Yan was a little distracted, so he didn't hear what Wu Zhilin was talking to him.

Tilting his head and glancing at Wu Zhilin beside him, Li Yan asked Wu Zhilin with some embarrassment: "Just now...... What did you just tell me?"

"I'm asking you, do you think you've seen through everything?" Wu Zhilin's voice was a little cold, and a slightly sharp light flashed in his eyes. Li Yan hadn't seen Wu Zhilin show such an expression for a long time. I couldn't help but shake my head bitterly and whispered, "Why are you still angry? What kind of knife is this ......called?"

"Dao Jianxin!" Wu Zhilin snorted and said.

"Yes, yes, just this Dao Jianxin Dao teacher...... It's a big fool to put it in plain sight! Everything Zhou Yi has moved out, and this thing is not as useful as putting the yin and yang lines in the technical analysis! How can anyone ...... Okay, can't you listen to you?" Li Yan was originally a little emotional, and when he muttered a word to Wu Zhilin and found the look on her face, he finally reluctantly changed his words.

"Do you think I don't know what Dao Jianxin is, but haven't you thought about why this Dao Jianxin is worth it for me to personally pull you to the door to find him?" Wu Zhilin asked Li Yan coldly, and seemed to realize that his emotions were not quite right. Immediately, she sighed and slowed down, and explained to Li Yan: "Although this person claims to have withdrawn from the capital market, there are many people who believe in him. It's like ...... How do you say it? It's like a very famous teacher. ”

"It's a god stick...... Li Yan muttered indistinctly, and saw Wu Zhilin frowning and glancing at himself. Hurriedly shook his head and smiled: "This ...... I said that this person is the kind of spiritual belief of retail investors? Why hasn't this Dao Jianxin seen his introduction on TV or the Internet when he is so famous? Buffett ......" Before Li Yan's words were finished, Wu Zhilin shook his head and explained: "What some people want is to be mysterious, or to show their abilities in a fixed circle. If you predict the market on TV every day, how long do you think he can resist like this? If the prediction is right, the top will definitely find a way to shut him up, and if the prediction is wrong, the people below will scold him for being a black mouth. ”

"It's ...... too" Li Yan nodded clearly, some masters are just eating and drinking in the circles of all kinds of cattle forks, not to mention all kinds of fame, fortune and wealth.

Just as Li Yan and Wu Zhilin were talking, the voice of Dao Jianxin speaking came from outside the door.

"Don't call me teacher, they all say you can call me brother. As he spoke, Dao Jianxin led two women in their thirties into the room.

"Ah, do you have a guest here?" One of the relatively calm-looking women glanced at Wu Zhilin and Li Yan, and at the same time did not forget to nod at the two, which was regarded as greeting the "stranger".

Li Yan looked surprised, the relatively stable woman Li Yan didn't know, but the woman next to the two of them, Li Yan, looked much more familiar. I have seen her in several hit TV series. Although she has always played a supporting role, she can be regarded as a character who dominates the screen on the screen. As for what it was called, Li Yan had already put his name on his lips, but he just couldn't say it.

Dao Jianxin led the two to the table at this time, nodded at the two of them with a smile, and said, "These are my two friends, it just so happens that you can also get to know each other." This young and promising young man is Li Yan, the current leader of the Demon Hunting Alliance!"

The movie starlet originally just looked at Li Yan twice, and didn't seem to plan to talk to him, but at this time, when he heard that he was the leader of the Demon Hunting Alliance, his eyes lit up instantly. Turning his head at Li Yan, he nodded with a smile and said, "Li Yan Alliance Master, I didn't expect to see a real person from the legend today." ”

The change before and after is a bit big, and Li Yan himself hasn't even changed for a while.

"Hello!" Li Yan smiled at her.

Dao Jianxin said in a timely manner: "The one next to her is Wu Zhilin, a well-known double-faced person with capital rights in Beijing." You might as well learn more and communicate more, and if you want to find an organization to help you operate your funds, you must be right to find them!"

"Hello, Mr. Wu...... I didn't expect you to be younger than the legend!" The woman who came in just now and nodded at Wu Zhilin hurriedly held Wu Zhilin's hand and said polite words like a sister.

"I'm sorry, I was supposed to ask the two of them to come over in the afternoon today, but I didn't expect to come earlier than expected. But just right...... Let's make it more lively to chat. Dao Jianxin explained and apologized.

Wu Zhilin said that it was nothing, and it was not a matter of urgency to come over and pick up the knife Jianxin.

Dao Jianxin nodded, poured tea for the two women, and then asked, "How did you learn the method I told you last time?"

"Teacher Dao, I basically demonstrated what I talked about last time, not to mention that it is really powerful. ”

In addition, the little star said: "Teacher Dao said last time you wanted to tell us how to escape from the top, isn't that ...... I didn't have the heart to study, so I came over early, but I didn't expect to meet your friend. ”

Li Yan looked at everything in front of him and tilted his head to look at Wu Zhilin. That seems to be asking: Why are celebrities still participating in the hype of the secondary market now? Among the major shareholders holding the original shares, there are many big gods in the entertainment industry.

At this time, Wu Zhilin, who was sitting on the side, smiled as if he didn't see Li Yan's inquiring eyes and asked Dao Jianxin, "Teacher Dao, why haven't I heard you talk about the method of escaping from the top?"

Dao Jianxin shook his head with a wry smile, and whispered to Wu Zhilin: "How can I fiddle with this little trick in front of the two-faced people?"

"Let's talk, I also learn from Teacher Dao!" Wu Zhilin asked with a smile.

Dao Jianxin glanced at the few people in front of him, nodded and said, "I'll talk about the method of escaping today." ”

Li Yan, who was holding a tea cup in his hand, couldn't help but tighten the tips of his fingers. He himself was actually more curious about what this knife fool could say......

"Actually, the way I want to talk about escaping from the top is to look at the arbitrage space of graded funds!" After Dao Jianxin finished saying this, the little star frowned and asked: "What is the arbitrage space of graded funds?"

Dao Jianxin held a teacup in his hand, and the other hand slid lightly on the table and said: "If you want to talk about the arbitrage of graded funds, I will first tell you about the trading methods of graded funds, and you may understand." After saying this, I listened to Dao Jianxin continue: "Graded funds can be subscribed or subscribed and redeemed in two ways: on-site and off-market. On-site subscription, subscription and redemption are carried out through securities companies with fund distribution qualifications on the Shenzhen Stock Exchange. Over-the-counter subscription, subscription and redemption may be handled through the fund manager's direct sales agency or the business premises of the agency handling fund distribution business, or in other ways provided by the fund manager's direct sales agency or agency. After the two types of shares of the graded fund are listed, investors can trade them through securities companies. ”

He talked so much endlessly, but Li Yan, who was sitting on the side, noticed that the expressions of the two women were slightly dazed. It seems that after listening to it for a long time, I haven't heard the main content. Or maybe I don't really understand what the use of these things is. ”

What Li Yandu discovered, Dao Jianxin naturally saw the clue.

Then I heard Dao Jianxin say: "I'll give you a concept, and you can understand it yourself." ”

After speaking, Dao Jianxin casually took a notebook from the side, and began to quickly write a group of formulas on it:

Net value of the parent fund = net value of class A sub-fund × proportion of class A sub-fund + net value of class B sub-fund ×proportion of class B sub-fund, AB consolidation cost = trading price of class A sub-fund ×proportion of class A sub-base + trading price of class B sub-fund ×proportion of class B sub-base.

After writing, Dao Jianxin stuffed the paper into his mouth and put the two of them and said: "When there is a price difference between the net value of the parent fund and the AB merger cost after deducting the subscription and redemption fees, you can subscribe for the split arbitrage of the parent fund or the redemption arbitrage of the merged sub-fund. There are two kinds of discount and premium arbitrage of Shenzhen Stock Exchange graded funds: one is that when the net value of the parent fund > the AB merger cost, you can buy the AB sub-fund in proportion to the market on T day, and merge the parent fund after the fund merger operation is confirmed on T+1 day, and the parent fund can be redeemed after T+2 days, the operation time is T+2 working days in total, and the redemption fee is generally 0.5%;"

The little star didn't know if he was really moved, or if he was fooled by Dao Jianxin. Li Yan saw her tentatively rushing at the knife Jianxin and asked, "Teacher Dao, what about the back?"

"Net value of the parent fund < AB, combined cost. If you subscribe for the fund of funds on the market first, you can split it on T+2 day, and you can sell AB shares on T+3 day. The total operating time is T+3 working days. The subscription fee of the fund of funds is generally 1.5% for stocks, 1.2% for indexes and 0.8% for bonds. In addition to banks and brokers, fund direct sales and third-party fund sales companies will subscribe to the parent fund, there will be a preferential rate of four to six discounts! The Shanghai Stock Exchange's graded fund discount and premium arbitrage is similar to that of the Shenzhen Stock Exchange, and you can study more if you are interested. Of course, I tell you that the arbitrage space of graded funds is not for you to do arbitrage, but for you to understand how the arbitrage space is formed, and judge the top of the market according to the size of the arbitrage space, so as to effectively escape the top. ”

After talking for a long time, Dao Jianxin turned the topic back, and Li Yan couldn't help muttering in his heart: "It seems that I don't forget to promote others wherever I go." ”

As for the little star, he didn't know what he was thinking when he kept frowning, and when he heard Dao Jianxin's words, he hurriedly asked: "Do you have to calculate the arbitrage space of the graded fund every day?"

"No, you can check it directly on the Internet. There are a lot of real-time website inquiries on the Internet, and everything you want is actually in it, or you search for the intraday discount premium and the detailed data of the graded fund will appear, of which the last column 'overall premium estimate' is the approximate arbitrage space. Go in and take a look and you'll see there's a sort inside. The reason why I introduce it to you is because I used to pay attention to this ranking to do arbitrage of graded funds. As soon as Dao Jianxin's words fell, the little star seemed to sense the problem in his words, and subconsciously asked, "What do you mean...... Not now, or not now, or not in the future?"

Dao Jianxin smiled and raised his finger to the tip of his nose and said: "I now feel that the graded fund is risky, and I basically don't do arbitrage at all in the later stage of my trading." But in order to understand the changes in the situation of this market, I still often look at the data on it, of course, I mainly use the data to judge whether the current market is safe. ”

These contents came out of Mr. Dao's mouth, and Li Yan always had a feeling of being obedient.

At this time, Dao Jianxin was preaching to the two of them: "When the premium estimate is less than -3%, you can buy AB and then merge it into a parent fund for redemption." When the premium is estimated to be greater than 5%, you can subscribe to the fund of funds and then split it into AB and sell it in the secondary market. This is a kind of static arbitrage, and in fact, the stock market fluctuates every day, so you also need to consider the rise and fall of the broader market during the arbitrage period. Of course, we are not talking about arbitrage, but when the market peaks or bottoms when there is room for arbitrage. I think generally speaking, when the premium is more than 10%, the market is more likely to peak. Because the premium estimate is greater than 10% and some securities companies' parent funds can be blindly dismantled, then the subscription of the parent fund at the same time blind demolition, one day plus AB can not fall at the same time, and the arbitrage at this time can basically be said to be risk-free arbitrage. ”

The little star frowned and said helplessly: "But the problem is...... I don't have a lot of money right now!"

Mr. Dao smiled and then said: For the sake of safety, large funds may withdraw funds to do risk-free arbitrage. If we want to use big money, we have to keep up with the pace of big money, retreat from the stock market or follow a risk-free arbitrage. I escaped twice before the winter solstice last year and before the summer solstice this year, because I withdrew my funds to do this kind of risk-free arbitrage, and as a result, I escaped intentionally or unintentionally. When the premium estimate is negative 10%, it is more likely to bottom, but this situation is generally difficult to see. Because this situation is that the market continues to fall, the decline of the parent fund cannot keep up with the decline of AB. Therefore, once the premium estimate is less than -10%, we can buy the bottom, and at this time, the market is over-falling, and there is a high probability of rebound. ”

Mr. Dao smiled and then said: For the sake of safety, large funds may withdraw funds to do risk-free arbitrage. If we want to use big money, we have to keep up with the pace of big money, retreat from the stock market or follow a risk-free arbitrage. I escaped twice before the winter solstice last year and before the summer solstice this year, because I withdrew my funds to do this kind of risk-free arbitrage, and as a result, I escaped intentionally or unintentionally. When the premium estimate is negative 10%, it is more likely to bottom, but this situation is generally difficult to see. Because this situation is that the market continues to fall, the decline of the parent fund cannot keep up with the decline of AB. Therefore, once the premium estimate is less than -10%, we can buy the bottom, and at this time, the market is over-falling, and there is a high probability of rebound. ”