"Why can't I know! You don't think I eat at home all day long?" Bi Peilin glanced at Li Yan with big white eyes, and then muttered softly: "I still know more or less what is happening in the circle, and besides, do you think I may not know about such a big thing?"

Li Yanleng paused for a moment, and subconsciously asked: "You know that Lin Teng is making a plate, so do you know who is operating it?"

Bi Peilin glanced at Wang Qihua and Wang Qiling, who were sitting next to the monitor, blinked her eyes, tilted her head, and muttered in a low voice: "I heard that Li Xiaoteng personally did the surgery." ”

"No wonder!" When Li Yan nodded clearly, Wu Zhilin, who was on the side, suddenly moved his arm. Picked up the teacup that was placed aside and blew the jasmine flowers floating on top of the tea soup.

Tilting his head to look at Wu Zhilin, Li Yan squinted his eyes and whispered to Wu Zhilin, "Are you okay?"

"Why do you ask?" Wu Zhilin's hand holding the teacup shook slightly. The dark yellow tea soup is like an autumn lake, and the jasmine flowers ripple slightly with the ripples on the lake......

Looking at Wu Zhilin deeply, Li Yan saw the trace of panic that Wu Zhilin was deliberately concealing.

"It's fine. Li Yan smiled, not intending to reveal anything.

"Are you worried that the silver seed wine may also turn into a ...... That way?" Wu Zhilin finally said what he thought in his heart. She then gently put the teacup in her hand on the table, and then muttered: "Lin Teng's department can gather so many forces and institutions around him to make a plate this time, and there are no outsiders. No matter how I think about it, I think he is expanding his own power! Everyone recognizes the golden signboard of the Lin Teng system, as long as they can benefit this time, it will inevitably increase the influence of the giant Lin Teng system. ”

"What do you think?" Li Yan asked Wu Zhilin with a smile.

"I know that you are different from what I think, although I am not opposed to thinking about problems in the way of conspiracy theories, but sometimes you have to look at problems in combination with the actual situation, right?" After Wu Zhilin finished saying this, he said without waiting for Li Yan to speak: "I want you to think about a problem......

"What kind of question, you say!" Li Yan pursed his lips and whispered to Wu Zhilin in response.

"If you are in Li Xiaoteng's position, do you want to wait enough for yourself to have enough prestige, or do you want to make yourself infamous? Especially now that the Demon Hunting Alliance has become a mess, he can easily pry the power of the Demon Hunting Alliance into the camp of the Lin Teng clan through a few things. Also, Shangguan Xuanyue of the Southern Management Committee Bingshuai Yin, and I heard that there seem to be a lot of opposition voices within the Management Committee, and they don't recognize Shangguan Xuanyue's ......" After Wu Zhilin said these words, he looked at Li Yan with blazing eyes and said: "You say, you are Li Xiaoteng's words." What would you do!"

Li Yan frowned slightly, pursed his lips as if thinking about something......

Bi Peilin suddenly said on the side: "Do you still need to think about this? Is it that everyone will choose to increase their prestige, which is conducive to dominating the world! That fool will think that his reputation is high?"

Li Yan turned his head helplessly to look at Bi Peilin, and said helplessly: "Do you think you are playing the Romance of the Three Kingdoms?

Bi Peilin snorted, deliberately straightened her chest and asked Li Yan rhetorically, "Is what I said wrong?"

Li Yan was a little speechless for a while, and finally just sighed slightly and whispered to the two: "According to normal thinking, this is indeed the case." But you look at ...... on the disk," Li Yan said, pointing to the monitor screen and saying, "You two should have seen that the current trend is downward." At first, I thought there was a problem, but now that I see all the way down, it is more practical to implement the idea in my heart. ”

"What thoughts?" Bi Peilin subconsciously asked Li Yan.

"If Li Xiaoteng really wants to accumulate his prestige, he should not let the stock price show a downward trend. What Li Xiaoteng should do after everyone lays out the chips is to beckon everyone to twist into a rope, and the baton passing mode pushes the price up one by one, but what about him? He doesn't let everyone contact each other, and asks the back-to-back model to absorb chips by himself, which seems to depend on how to interpret it. In fact, I understand that if I stand in front of Li Xiaoteng now, he will definitely tell me that everyone will enter the market back to back, and no one knows who bought how much, and there will be no concentrated panic and unnecessary trouble at that time. Li Yan paused after speaking, and was about to continue when he heard Bi Peilin say, "I think it's okay to say this, right?"

"Of course there's no problem, if you hear the high-sounding words, then it's not really a big problem?" Li Yan's voice fell, and then he continued: "But when everyone is back-to-back, if he becomes the biggest behind-the-scenes master, isn't it because he turns his hands into clouds and turns his hands into rain?"

"You mean to say that you doubt ......" Wu Zhilin whispered to Li Yan and asked, and then muttered: "Do you think that the price of the market should be pulled up with the trend of destroying the withering and thundering, so that everyone can benefit? I understand this, but as a person who absorbs chips, does he really want the price to rise quickly?" Wu Zhilin asked Li Yan rhetorically, the purpose seemed to be just to make him not think nonsense, many things conspiracy theories will only make the problem worse.

Li Yan looked at Wu Zhilin, and wanted to continue to argue with her for a few words, explaining the problems that may arise at present. At this time, I heard Bi Peilin suddenly say on the side: "Is it only me who thinks you are worrying about the sky?"

After a while, Li Yan didn't speak. just looked at Bi Peilin quietly, it seemed that Li Yan also wanted to understand why Bi Peilin said that. ”

"The theory I was looking at before was called the "loser-winner effect". In other words, according to the weak efficient market hypothesis, it is a metaphor that an investor cannot use past price information to obtain excess returns, that is, stock prices are purely subject to random walks, but several economists I have seen have proposed the "loser-winner effect", that is, investors are overly pessimistic about the combination of past losers and overly optimistic about the combination of past winners, causing the stock price to deviate from its fundamental value, and after a period of time, the market will automatically correct, and the loser in the early stage will win a positive excess return, and the excess return of the previous winner will be negative. Bi Peilin felt that what she was talking about was the truth, but she didn't notice that Li Yan was already too empty at this time.

"Li Yan, can you be serious?" Bi Peilin found that his throat and eyes were burning for what Li Yan said, but he didn't seem to be indifferent at all.

"Why don't you say it?" Li Yan said this is useless at all! But he just motioned to Bi Peilin to continue, and Bi Peilin's heart was secretly angry when she saw this expression, but she still gritted her silver teeth and continued: "The point is that to eradicate this situation, some foreign financial scholars have proposed a new method of predicting stock returns. That is, the reversal strategy is used to buy the loser portfolio in the past 3 to 5 years and sell the winner portfolio, this strategy can enable investors to obtain excess returns in the next 3 to 5 years! In the same way, we can shorten this cycle, and if the silver seed wine continues to fall, this is not exactly the case in this situation? You just need to shrink the financial model!

Before Li Yan could speak, Wang Qihua, who was sitting in front of the monitor screen, suddenly turned around, glanced at Bi Peilin and said: "Huaxia is a policy-oriented market, and what you said will be unsuitable for our country." ”

Bi Peilin frowned, and then heard Li Yan say beside her: "Oh! However, I would like to say that the current situation is not just something that can be analyzed with financial models. Li Xiaoteng, what they want to do, I don't know too much until now. But I'm sure he won't play at the pace you think. Linteng ...... If they don't get it, it's going to chill his followers!"

"Impossible! With such a good form in front of him, doesn't he win over a group of die-hard fans?" Bi Peilin picked up the theory that Wu Zhilin had thrown out just now at Li Yan.

"It seems that few people in the market know that it is from Li Yan's handwriting, but this time everyone knows that he is in control. Do you think he is really willing to fall his face to the ground?" Wu Zhilin said this slowly, and suddenly nodded thoughtfully.

It seems that at this moment, Li Yan understands many questions that he didn't understand at first.

"Aren't you worried?" Li Yan suddenly asked the second daughter.

The two shook their heads at the same time, it seemed that they had put the chips in their hands directly on Li Xiaoteng's identity, and from their hearts, they were not very optimistic about the direction Li Yan said.

After Li Yanchong smiled at the two, he said, "Some strange things have happened recently. ”

"What's going on?" Wu Zhilin looked at the situation below, frowned slightly and asked.

Wu Zhilin hurriedly said on the side: "I don't know if you have paid attention. The recent legend created by China's capital market seems to be gradually becoming darker. ”

"Recently, a lot of strange phenomena have happened in the capital market of China. And I'm also looking for human material or. The answer given to me by the other party was: "The main reason for the above results is that the impact of the new M&A and restructuring regulations issued by the management today has begun to appear, especially the requirement that the transaction parties, including the "three types of shareholders", penetrate and disclose the ultimate investors and even the source of funds, which is the real reason for the miscarriage of many M&A and restructuring." Some transactions involving illegal holding of shares and gray sources of funds were strongly deterred and had to retreat. With the continuous tightening of supervision, it has become the norm for listed companies to terminate mergers and acquisitions this year, but it is still rare to be so dense as recently. That's why I say that with the tightening of supervision, it has become the norm for listed companies to terminate mergers and acquisitions this year, but it is still rare to see such a dense concentration as recently. Behind Li Yan's words, the reason is far from being as simple as it seems.

"The first of the old eight shares is now sinking into the sand, you can say that it is because of the baptism of time. Recently, I have nothing to do and also read the reasons disclosed by several listed companies from the announcement. You see...... Most of the companies said that the parties to the transaction could not reach an agreement on the terms of the transaction, but the parties to the transaction could not reach an agreement on the core terms of the restructuring, such as the issue price, so they chose to terminate the restructuring. "I've talked to people to understand that there are also some companies that terminate mergers and acquisitions for reasons that are not as simple as the above reasons. If the partnership becomes the largest shareholder of the listed company or holds more than 5% of the shares after the transaction, it shall disclose the source of funds of the ultimate investor, and the above-mentioned requirements of the partnership shall be disclosed mutatis mutandis in accordance with the above requirements of the partnership.

"The most powerful article in the current regulations regulating mergers and acquisitions is also the fundamental reason why some companies have to terminate mergers and acquisitions. Some people pointed out that the three types of shareholders often have problems such as share holding and benefit transfer, and the source of funds occasionally goes through abnormal channels, so the requirement to disclose the ultimate investor and the source of funds will have a strong deterrent to some parties who have illegal nominee holdings and gray sources of funds.

"In the current deleveraging environment of strict control of financial risks, such parties will also retreat from difficulties. The private equity source said that the new rules will help investors identify the potential risks of restructuring and will also effectively reduce market risks, "It can be expected that there will still be many examples of mergers and acquisitions that fail to terminate in the future." ”

……………………

"The first of the old eight shares is now sinking into the sand, you can say that it is because of the baptism of time. Recently, I have nothing to do and also read the reasons disclosed by several listed companies from the announcement. You see...... Most of the companies said that the parties to the transaction could not reach an agreement on the terms of the transaction, but the parties to the transaction could not reach an agreement on the core terms of the restructuring, such as the issue price, so they chose to terminate the restructuring. "I've talked to people to understand that there are also some companies that terminate mergers and acquisitions for reasons that are not as simple as the above reasons. If the partnership becomes the largest shareholder of the listed company or holds more than 5% of the shares after the transaction, it shall disclose the source of funds of the ultimate investor, and the above-mentioned requirements of the partnership shall be disclosed mutatis mutandis in accordance with the above requirements of the partnership.

"The most powerful article in the current regulations regulating mergers and acquisitions is also the fundamental reason why some companies have to terminate mergers and acquisitions. Some people pointed out that the three types of shareholders often have problems such as share holding and benefit transfer, and the source of funds occasionally goes through abnormal channels, so the requirement to disclose the ultimate investor and the source of funds will have a strong deterrent to some parties who have illegal nominee holdings and gray sources of funds.

"In the current deleveraging environment of strict control of financial risks, such parties will also retreat from difficulties. The private equity source said that the new rules will help investors identify the potential risks of restructuring and will also effectively reduce market risks, "It can be expected that there will still be many examples of mergers and acquisitions that fail to terminate in the future." Search for "CM" or enter the URL:.