For analysts, stock selection and timing are the core points, and financial investment is all about playing with numbers, letting the numbers dance on the timeline to get the dance with the greatest probability of profit.

Wang Nuo's words revealed that he was trying to make some tricks on the timing, but he left a lot of leeway, and he didn't talk about stock selection at all, and all stocks could be chosen at will.

To sum up, the attitude is also very clear, the company's words are only half listened to, the early stage of cooperation, the later stage of independence.

But there is also a high degree of difficulty in operation, let the brokerage play casually in the early stage, and then correct the mistakes yourself, you ...... You have to see where the mistake is.

Securities analysis is not a primary school student's homework, first identify mistakes and omissions, and then correct mistakes, which is easy to say, but difficult to do.

"I don't agree with you. Tao Hui really rolled her eyes, and immediately expressed her attitude: "Either cooperate, or cooperate next time, what does it mean to cooperate halfway?"

"Even if you agree with your idea, can you guarantee ......," Tao Hui continued, "Publish a research report to correct previous mistakes before the market changes?"

"So we dragged it in the first stage, and ...... later," Wang Nuo said indifferently: "If you can find it, you can find it, and if you can't find it, you can take it as a cooperation." ”

"Uh......" Tao Hui lost her voice for a while.

Indeed, first agreed to the requirements of Wanli Securities, give the corresponding research report, if the later degree of grasp of the market is high, then the research report, if there is no certainty, just turn around and throw the pressure to the company.

Anyway, the research institute issued a research report according to the company's requirements, even if the content is wrong, then ...... Isn't that also a normal thing?

"Arnold, you're such a chicken thief. Yao Shuliang likes to do this kind of thing the most, and after figuring out Wang Nuo's attitude, he really found out...... This can be done.

"I'm afraid, I'm afraid, you will face more pressure at that time, and you won't dare to publish new research reports. Tao Hui said a fair word.

There was a moment of silence in the office.

First give a research report covering until January next year, and then change the opinion in the middle, the pressure is double.

It is equivalent to slapping yourself, and then it is likely to slap the securities company, if the research report in January is wrong, it will be difficult to ...... Say you made a mistake?

That's the pressure of a double serving.

"I still have that opinion, if you don't want to, we will refuse the company's request, if you are willing, you will agree, talk to the company about the conditions, choose a few targets with the same views within the timeline, and publish a research report. Tao Hui continued: "There is such a thing as a research report, it is normal for mistakes to occur, and no one will hold on to it, and the follow-up research report will be brilliant, and it will be fine." ”

"Your main task is not to ensure the quality of public research reports, but to do a good job in the research business in hand. Tao Hui concluded: "Wanli doesn't have any high requirements for the institute, and the profit we helped find is enough, so it's easy to say anything." ”

Tao Hui's words made Wang Nuo, Zhou Minghai, and Yao Shuliang a little uncomfortable.

But this is not wrong, the securities company does not have high requirements for the research institute under its name, which is the real situation.

Wanli Securities' requirement for Wanli Financial Research Institute is that when the group of masters of asset management and self-management have no tasks, they will steadily brush their faces and publish public research reports to gain some fame, and the core task of ordinary times is the business given by the buyer.

Buyers such as Texhong Fund and Huapu Fund, because of their business dealings with Wanli Financial Research Institute, will use the seats of Wanli Securities to trade, and the commissions contributed to Wanli Securities every year are hundreds of thousands of millions, which is the core.

However...... There is a conflict between the needs of Wanli Securities and the pursuits of analysts at the Institute.

Years of hard work and accumulation in his career have made Zhou Minghai finally become an analyst on the list, and he is willing to give some feedback to the company in the public research report, but ...... What about higher positions?

Because you want to open a position, you are bearish on the stock market or the underlying stock, and this kind of research report is of course too risky for analysts, and it is almost the price of your reputation to help the company make money.

Can Zhou Minghai be willing?

Even if Zhou Minghai was willing, Wang Nuo didn't want to sign the research report, he didn't have the consciousness of sacrificing himself for the public.

"In the final analysis, the degree of independence of the institute is not high, if the Wanli Financial Research Institute is a well-known research institute, Wanli Securities will not dare to let the analysts of the research institute cooperate with this kind of thing. Wang Nuo sighed in his heart: "But if the reputation of the institute is enough, the benefits will be enough, can a brokerage of this grade of Wanli Securities afford such a research institute?"

"It can't be said that you can't afford it, but you have to offer it as Lafayette. Wang Nuo thought of this with a smile.

The analyst is powerful, even so powerful that if he stands at the top of the research circle, he can bully the store, and the brokerage will directly kneel down and shout Dad, because the interests are enough, and the income and fame effect brought by a top analyst in the industry are not something that can be fooled at the million level.

Merely...... Strong analysts are almost all on the buy-side, and who wants to "fool around" in the sell-side's research institute?

Unfortunately...... Wang Nuo will definitely not go to the buyer.

To be precise, Wang Nuo will not help others invest, because he dares to have this kind of thought, unless he does not use an honest pen, otherwise, the loss of energy is more than the profit obtained, so what money will he make?

So the best way for Wang Nuo is to stay in the seller's research institute as a "father", and ...... He is a stepfather, and he has to pick and choose research reports, as long as it is a research report that will cause energy consumption, it is not allowed to be published.

You think I'm helping you, but in fact, you were able to succeed in the first place, this is the direction of Wang Nuo's research report, it's purely a pit.

Or the other way around: you think I'm helping you, but I'm not helping you.

"What did Brother Hai say?" Wang Nuo handed over the choice to Zhou Minghai.

This should have been Zhou Minghai's choice, whether to obey the company's arrangement, or refuse the broker's request, or ...... Adopt Wang Nuo's suggestion.

"I chose to give it a try. Zhou Minghai was very embarrassed, but he was a man who did not lose his responsibility, and quickly raised his head, his eyes were firm, and said: "How can an analyst not bear pressure, first follow what Arnold said, give them a research report, and then see how the research report in January will be published." ”

"You're really an elm head!" Tao Hui suddenly said angrily, "You might as well refuse now." ”

"I'm an analyst!" Zhou Minghai didn't hesitate, looked at Tao Hui, and said: "The company has the interests of the company, and we also have our pursuits." ”

"......" Tao Hui was speechless.

Zhou Minghai's mentality is the mentality that a real analyst should have, no matter how many boxes you give, I just want to break out of these boxes.

Being able to become the chief analyst with his academic qualifications and despise the hardware at the bottom of the chain, has Zhou Minghai just relied on messing around all these years? He is not a fuel-efficient lamp.

Wang Nuo likes the atmosphere of the research office.