Time passed quickly, and soon, March 2, 1992 arrived.

On the same day, Shanghai Magic City held the first stock subscription warrant lottery ceremony, and broadcast the lottery live to the public through the TV station. The lottery team of the Savings Office of ICBC is responsible for the lottery, and the Shanghai Notary Office is responsible for notarization.

On this day, the lottery issued shares of 7 companies, and the total issuance of shares with a face value of 10 yuan was 7.05 million shares.

Countless people watched the results in front of the TV, including He Zilong. The lottery result is: the winning subscription warrant buys 50 shares of Zhongcheng Industrial and special-shaped steel pipes, and buys 30 shares of other stocks, with a winning rate of 30%!

"Thirty thousand sets, give me the goods you have in your hand. ”

"Thirty-five thousand will be given to you, and I will borrow money to buy new shares by myself and play to the end." ”

"Okay, deal!"

In the black market bars, there are similar trading voices everywhere. There are actually very few people who can play to the end, because the stock warrant is just a subscription, and if you want to buy a new share, you have to come up with another amount of money to buy the stock, and then go to another battle.

Many people who speculate on call warrants don't necessarily know much about stocks, but they just see that this is rising, so they speculate on this.

Another reason, of course. Many speculators gamble all their money on call warrants. Now even if I win the lottery, I don't have the money to buy stocks!

In other words, if you want to play to the end, you must sell a part of the warrant while there are still three lottery opportunities and the price, and then exchange it for cash flow in hand. Then buy new shares and bet to the end.

Changing part of the cash flow in hand is also one of He Zilong's thoughts now.

The one-year warrant was subscribed in a total of 4 lotteries, and the final result was that the winning rate was almost 100%.

The first two are the craziest, the first time the winning rate is about 30%, the second is 50%, and the winning only depends on whether the tail number is odd or even. The two subscribed stocks rose greatly on the first day of listing, and the money-making effect was very obvious, so the frenzy of call warrants drove the frenzy of the market, and the stock market in the secondary market soared all the way.

While he was thinking, a big-bellied man walked up to He Zilong and said, "Young man, I heard that you have a few sets or about ten sets of whiteboard subscription warrants in your hand? There's no one here who is going to bid more than me, okay?"

"Okay, let's talk in the private room. Sister Lan, open a private room by the window for us!" He Zilong threw the unfinished breakfast into the trash can and said to Shangguan Lan.

"Okay, no problem!"

Some people in the bar saw He Zilong and the pot-bellied man enter the private room, but the details of the transaction could not be seen.

In the eyes of most people, there are almost no small retail investors with complete sets of subscription warrants in their hands. Most of the people in the bar are the so-called big guys, and the rest of the guys are out of the game. Of course, some earn more, and some earn less!

When he came out of the private room, He Zilong's bag had 400,000 more. He ran directly to the Industrial and Commercial Bank opposite, and then deposited it.

The money is not on his body, he is very high-profile in the whole process, the purpose is to let people know that the money is not on him, and there is nothing left. Then, he returned to the bar, looking like he was watching the excitement!

Young people like to watch the excitement and say the past, and on the surface, he is only out of stock, of course, only he knows how it is true. In this way, no one will bother him.

Ten sets of 400,000 were sold just now, just to be used as smoke bombs.

All the goods are sold for 40,000 yuan, not to mention that the big-bellied man doesn't have so much money, even if he has, it is impossible. At the peak, it rose to 5-60,000 yuan a set, how could it be that all about 40,000 yuan a set was sold out.

What's more, once he has some cash flow, He Zilong also wants to participate in speculating in new stocks.

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How many bull markets there have been in China's stock market, and what the time interval is, when it comes to this question, no one knew at the beginning.

But as a reborn person, He Zilong knew that the first bull market began to peak in 1992.

1. The first round of bull and bear replacement: 100 points - 1429 points - 400 points (down more than 50%) On May 26, 1992, the Shanghai Composite Index soared to 1429 points, which was the "peak" of the first big bull market in China's stock market. In a year and a half, the Shanghai Composite Index has skyrocketed by more than 1,300 points.

Of course, the peak will be followed by a cliff. After May 1992, China's stock market soared in an unscientific short period of time, which brought negative consequences. All the way down, like diving, from around 1500 points, down to 400-500 points.

However, because the diving is too powerful, it is like the opposite of things.

In the fourth subscription warrant lottery, not many people bought the new shares. In the fourth batch of new stock subscriptions, several large-cap stocks of raw water shares, Shenergy shares and Huchang Special Steel were unsubscribed, which was the first time in the stock market. The policy impact of this is so bad that the relevant departments have begun to bail out the market!

In addition, the listed company is eager to make money, negotiates with the underwriter, and adopts any matching number of subscription warrants as long as they are successful, and there is no need to ask for names. As a result, some people took a fancy to this once-in-a-lifetime opportunity.

The Shanghai Composite Index set sail from a trough of 400 points at the end of 1992 and began its second round of "big ups and downs". This time the surge came even more violently, from around 400 points to the close of 1536.82 points on February 15, 1993 (the Shanghai Composite Index stood above 1500 points for the first time)!

In a short period of 1992 to 1993, the real process took only about a year. There have been two big bull markets and one big bear market, which I have to say is really a miracle in the Chinese stock market!

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The next week passed, and He Zilong's winter vacation was not far away. No matter what, He Zilong is going back to his hometown once!

In his estimates, the new shares that won the call warrant for the first time were bought anyway. And the subscription warrant itself is still two or three months away from the second lottery, and it is impossible for him to wait in Shanghai Magic City all the time.

As long as he comes back before that, I believe that the price at that time, whether it is a call warrant or a new stock, will satisfy him.

However, the development of events caught him by surprise. I didn't expect people to go crazy, especially fast. Just a few days before he was about to leave, the trading prices of various black market locations, call warrants, directly rose to about 50,000 yuan a set.

It seems that there are already a lot of predators who have smelled the breath, and they have entered the market as a banker!

Many people who just sold their call warrants last week are crying in the bar with regret after seeing this week's price. To be honest, He Zilong also had a bit of a pain in his flesh, because in the past few days, in order to subscribe for new shares, he secretly sold dozens of sets of warrants in other black market locations.

This has to lose a lot of money, but fortunately, this is one of his plans to exchange certificates for money, and he can earn it back on the new shares, so he only recovered after a short period of pain, and he looked calm.

"Xiaojun, I heard that you are going home to study......" Seeing that He Zilong was leaving, the proprietress Shangguan Lan asked.

"Yes, anyway, there are still two or three months left for the second lottery, and it will be ...... when the time comes" He Zilong walked out with a smile and walked in the breeze.

Looking at his confident back, the eyes of the two Shangguan sisters lit up, they glanced at each other playfully, and the corners of their mouths once again hooked a sweet smile. It seems that the two sisters were right in their guesses, fortunately, fortunately.

This little villain was deceiving people last week, selling 10 sets for 400,000 yuan, and coming back next time? At that time, many people could follow the trend of 40,000 sets and make a move. Fortunately, I held back!

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