When all the people are stock, the stock market crash will come, the stock market that has experienced the stock market crash can be regarded as a mature stock market, and the shareholders who have experienced the stock market crash can be regarded as a mature stockholder.

Yet what a terrible price to pay.

"Second uncle, what have you been busy with lately? God mysterious. Gu Yaluo's clear eyes were full of warmth.

"Let's go to my study and talk about it!" Lu Jiangfan pulled her up to the third floor.

In the study, Lu Jiangfan had a smile on his face, and enthusiastically made tea in person, "Luo'er, drink tea." ”

"Second uncle, I don't dare to drink this tea, you also know that my mother won't let me touch the stock." Gu Yaluo's elegant face still had a calm and waveless expression, and she lost her popularity in front of people.

"OK, these are the foreign funds that I have found from the relevant departments in the past few days." Lu Jiangfan's eyes became cold, his silent and dark eyes were silent for a moment, and his handsome face said angrily, "Almost all of these foreign investors have entered the stock market, and they are working very hard to push up the stock market." ”

Luo'er also knows that stocks have only been popularized for a few years, and the experience of these small citizens investing in stocks is only at the beginning stage, not to mention mature, let alone investment skills. When the stock market rises, newspapers and magazines advertise that when they see the stock rising every day, they follow the trend and buy stocks.

These new investors have not been in the stock market for a long time, so they have no sense of investment risk at all, thinking that all stocks will only rise, do not know what a bull market is, what is a bear market, and do not know that the bear market will come after the bull market. This kind of blind consciousness. Blind investment methods are the biggest culprits of their deaths.

Hong Kong is a free port, and foreign investors still have little investment experience in seeing Hong Kong people. So with its abundant funds, it invested in the stock market. In a very short period of time, about a year or so, the Hang Seng Index has risen more than ten times. Stockholders who have never experienced such a scene like babies have seen the stock market rise every day, so many people have invested all their capital in the stock market. Before the stock fall, many stocks rose to more than 100 times the price-to-earnings ratio. And they don't even know what the price-to-earnings ratio is, only that the stock market is a good place to make money. The word risk. You may not even have thought about it.

After foreign capital enters the market, local funds can easily make profits because they see the stock market rise. As a result, both large conglomerates and retail investors rushed to enter the market, and the Hang Seng Index rose to an unreasonably high level. The crediting interest ratio is close to zero. But shareholders ignore this. I don't understand these basic analysis principles, but I just follow the trend and speculate, and after the foreign capital holds up the local stock market, all the stocks are sold at a high level and left the market at a profit. After Lu Jiangfan finished speaking, he paused and said, "Just like Luo'er said, the pig is fattened and should be killed." ”

A helpless smile appeared on Gu Yaluo's elegant little face. The eyes seemed to be like the calm surface of the lake, without a trace of undulating ripples. The voice was still crisp and sweet, "What do you want?" Organize a group to save yourself, or fight against British capital and recover losses. ”

"You, how do you know?" Lu Jiangfan said in surprise.

"You can think of it." Gu Yaluo pointed to his head and said.

Lu Jiangfan said frankly, "You also know that to short stocks in Xiangjiang, you have to have the underlying stocks in your hand, and the second is whether the brokerage can borrow the goods, and this threshold is higher." And we Chinese either have some money in our hands, or we have underlying stocks in our hands, so we must join forces. Just like you said, you can save yourself by holding together, otherwise it is the worst plan to let the British capital control the economic lifeline of Xiangjiang, and several generations have struggled until now, and they will return to the pre-liberation period at once! ”

"What do you want me to do?" Gu Yaluo's eyes had regained their calm, and she looked at Lu Jiangfan lightly and said, "Second Uncle won't let me do it myself!" Our stocks are still controlled by you. ”

"Luo'er, you know what I'm going to say?" Lu Jiangfan hurriedly got on the fire road.

"OK, the pig is fattened, kill!" Gu Yaluo gave him another sentence and said, "It is suspected that the Milky Way has fallen for nine days." ”

Lu Jiangfan looked at her dumbfounded and said, "It won't be so terrifying!" ”

"Uh-huh! Second uncle, you also said that shareholders are all novices, and their skills are immature, and their hearts are even more immature. Gu Yaluo chuckled faintly, "Don't forget the herd mentality, so that you can get huge benefits at a very small price." ”

The herd effect is actually a herd mentality, where people follow what the masses agree and don't think about the meaning of the event. The herd effect is the basis for appealing to the fallacy of the masses. In economics, the "herd effect" is often used to describe the herd mentality of economic individuals. The flock is a very scattered organization, and usually they rush left and right blindly together, but once one of the sheep moves, the other sheep will rush forward without thinking, completely ignoring the possibility of wolves in front of them.

"Luo'er is right, in fact, the key is that local investors, especially those who blindly follow the trend and have no investment knowledge, have too naïve views on the stock market. They give paper wealth a stirring gambling nature. Lu Jiangfan smiled bitterly and said, "Especially the Chinese people's gambling is strong!" Retail investors think that the stock market is a gold mine that can never be exhausted, but they are completely unaware of the truth of the stock market wrapped in the sugar coating...... If you look at the prospectus of some new shares, you can find some surprising things, such as the date of formation of the company is only one or two months before listing, and the majority of the company's assets are purchased from the company's directors. ”

"Alright, I know what to do." Lu Jiangfan rubbed his face and said, got up and stood up, and said with a debt, "Thank you, Luo'er." ”

Gu Yaluo immediately avoided it, "Second uncle, what are you doing?" ”

"It should." Lu Jiangfan took a deep breath and said.

"Second uncle, this battle is not so easy to fight, you have to be careful." Gu Yaluo admonished, "But there is one thing that no one knows where this market will fall?" ”

"I know!" Lu Jiangfan clenched his fists tightly and let go, "In the early days of the stock market falling from its high level, not only did some people in the market believe that it was only a technical adjustment, but the Hong Kong government also believed that it was a short-term phenomenon. That's the opportunity. ”

Gu Yaluo rubbed the mouth of the teacup and lowered his voice, "You can also trade naked * empty!" ”

Although naked*short trading. Many countries have expressly banned it, but now Xiangjiang does not have a proper securities law, and there are loopholes to exploit.

Lu Jiangfan's eyes lit up. Calculations in the brain.

&*&

Time slipped into April, the stock market was still falling endlessly, and at ten o'clock in the evening, Lu Jiangfan went to the rooftop with anger.

We're having dinner today, so we're all here.

With a "......snap", Lu Jiangfan came back and threw the briefcase on the coffee table, sat on the circle chair, and trembled with anger.

Chen Annie, who was cooking in the rooftop house, untied her apron and lifted the curtain and walked out. "What's wrong, what's going on. Who you off like this. ”

"I know that the newspaper said that the Inland Revenue Department also published an advertisement on April 4 that 'profits from the sale and purchase of stocks are taxable'. It is planned to tax stock investors. Gu Yaluo walked out of the rooftop house with a mango in his mouth.

"It's not a word from the Hong Kong government that they collect taxes or not, why are you angry! Besides, it's just about collecting taxes, so you're going to be angry! Chen Annie sat down, took the teapot and teacup, poured a glass of water and handed it to him. Drink. ”

Lu Jiangfan took the cup and drank it. Still angry, he took the teapot and poured another glass of water, and drank it all.

"Second uncle, what are you angry about? Isn't it just right that the stock market continues to fall? If it doesn't fall, how can you make money! Gu Yaluo smiled slightly.

"What? Is the stock market going to fall? Chen Annie Teng stood up and said, "This has fallen beyond recognition." ”

"Wait...... This stock market has fallen so much, and you are still making money. Annie Chen asked curiously.

"This. Ask your son to go. Lu Jiangfan waved his hand irritably.

"Second uncle, you are talking about those retail investors, the stock market continues to fall. Their losses are even greater. Gu Yaluo said helplessly, "Second uncle, you are not a savior, you can't save everyone." ”

"I know, it's just that I feel uncomfortable when I know this, and I should save the city at this time, who knows that the Hong Kong government will make a stupid move." Lu Jiangfan said angrily.

As Lu Jiangfan said, the news that 'profits from trading stocks are taxable' has made many shareholders even more panicked and intensified the sell-off in the market. On April 9, the Hang Seng Index finally fell below the psychological barrier of 1,000 points, closing at 934.50 points, turning the atmosphere from pessimism to panic. In fact, in just 30 days, the Hang Seng Index has fallen by more than 800 points, a drop of nearly 50%. The urgency of the decline and the magnitude of the decline are really "talking about the color change of stocks".

&*&

At the dinner table, Lu Haoshan asked, "Dad, why did the stock market fall so badly, so urgently, and so quickly." ”

Lu Jiangfan didn't answer and asked, "What do you say?" ”

Lu Haoshan thought for a while and said, "At first, the stock market plummeted because of a few fake stocks and the bank forced the position...... The freeze on the control of building rents has made those investors who are afraid to make up their minds even more uncertain, and has directly affected the interests of listed real estate companies. Now it has been discovered that several active listed companies have found counterfeit stocks, so it's no wonder that it doesn't fall! Retail investors recklessly sell their stocks, but it won't be so miserable! ”

"The third brother said less about a hot money and took it away." Lu Hao Siqing and gentle voices came slowly from behind him, and put the sweet soup on the table.

"Yes, yes, those hateful foreign capitalists." Lu Haoshan gritted his teeth and said.

Because there are Lu Jiangfan and Lu Haoshan in the family, when others talk about stock color changes, Lu Jiangfan always analyzes the stock market, so after coming and going, the people of the Lu family have learned a lot of knowledge about the stock market.

"What Haoshan said is only part of the reason, what really led to the collapse of the stock market was not 'fake stocks, forced positions and hot money withdrawn', but the unhealthy investment behavior of investors. For example, since the sudden opening of the stock market, some investors have regarded the stock market as a gold mine and have engaged in speculation on a large scale, and a small number of speculators have not even done their business properly, and only know how to wander around the "goldfish bowl" (trading hall) all day long, hoping to develop once and for all. It can be said that when the stock market bubble was rapidly inflating and the smell of speculation was strong, newspapers, magazines, business leaders, and even government officials repeatedly called on investors to be careful not to follow the trend of speculation or misbelieve the gossip, but they always 'did not listen' (refused to listen', and even thought that those warnings would only hinder their 'development'. (To be continued......)

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