Jizhou Technology is a high-tech enterprise with a university background, and its main business is electronic machinery and equipment.

Jizhou Technology's share price is not cheap, and its performance is only mediocre.

The only thing that is positive about the performance of this stock is that its research and development direction is automotive batteries and electric vehicle engines.

For electric vehicles, Sun Haoyang feels that this is a direction worth paying attention to for a long time in the future.

Because with the rapid development of China's economy, the demand for energy has increased dramatically. As global crude oil prices soar to more than $100 a barrel, the cost of using a regular gasoline-burning car is getting higher.

Previously, because of his long-term concern about the industry situation of Pujiang Automobile, Sun Haoyang was also very concerned about the gasoline needed for automobiles. The continuous rise in oil prices has greatly constrained the development of the automotive industry.

In the future, with the further rise of oil and gas resources, electric drive will become the general direction of automobile development.

If it was placed half a year ago, for such a stock with growth potential and high-tech background, even if the price was a little more expensive, Sun Haoyang would consider buying some and giving it a try.

But now is clearly not the time.

According to Sun Haoyang's judgment, the stock market is now at the end of the bull market. No matter how good the future growth of this stock is, as long as the bear market comes, there will be no eggs under the nest, and the stock price will definitely fall again and again.

One of the most common mistakes Chinese investors, especially veteran investors, make is to talk about value investing at the end of a bull market or a bear market.

At the end of the bull market, all stocks have been speculated, and when we talk about value investing at this time, it is nothing more than picking the eldest son among the short, can there be any good quality?

At the end of the bull market, stocks often have a price-earnings ratio of seventy or eighty or even hundreds of times, and investors pick a stock with a price-earnings ratio of twenty or thirty times, thinking that they have picked up a bargain.

But you must know that these stocks with a P/E ratio of twenty or thirty times seem to be relatively cheap, but in a bear market, they are only ten times or even only a few times P/E.

So in fact, this kind of stock has no value at all.

Thinking of this, Sun Haoyang originally planned to close the page and veto the stock, but just as he was about to close the page, he saw something out of the corner of his eye, which made him regain interest in the stock of Jizhou Technology.

Compared with the operation and fundamentals of Jizhou Technology, the capital side of this stock is more worthy of attention.

Not for anything else, just because Jizhou Technology is a venture capital concept stock.

Venture capital is an abbreviation for venture capital. Venture capital refers to the activities of professional investors to provide financing for high-tech-based start-ups.

Venture capital, which sounds lofty, is actually not like that.

In fact, nine and a half times out of ten, the money that is invested in the venture will end up being lost.

Of course, once the venture capital company finally succeeds, the most important Peugeot is generally listed, then the venture capital will become the original stock, and it will immediately obtain dozens or even hundreds of times the income.

Therefore, venture capital is a high-risk and high-reward industry, and its success depends entirely on the vision and luck of investors. And among them, the role of luck is far greater than the role of vision.

Jizhou Technology is not so much a good vision, but a better luck.

This company invested in a number of companies in the 90s. And those companies didn't do well for a long time afterward. It is estimated that if no one reminds them, the CEOs of Jizhou Technology Company will soon forget about this matter.

Then, after 2000, China's economy began to take off, and many companies that were half-dead were revitalized, not only successfully turning losses into profits, but even some of them successfully went public on the tailwind of the bull market.

In 2007, the stock market rose several times, Jizhou Technology owns many shares of other companies, the actual floating profit of these stocks has reached a very amazing amount, once Jizhou Technology sells those stocks, it will inevitably increase its net profit significantly.

This increase in net profit is not tens of percent, but hundreds or even thousands!

If you want to choose a short-term stock at the end of a bull market, nothing is more suitable than this type of stock.

Because when to turn these profits that exist on the books into positive money is entirely a decision of the directors of the listed company.

In other words, if the management of this listed company is willing, they can cooperate with the main funds and use the sale of other companies' shares to greatly increase profits, so that they can easily speculate on the stock price.

As for the purpose of speculating on the stock price? Hehe, does this need to be explained?

Thinking about it like this, Wu Yingying is still finding a good stock by mistake.

Although it cannot be said that there is no guarantee of making money or losing money, in today's stock market full of bubbles and risks, it is not a worthwhile choice.

After many considerations, Sun Haoyang finally decided to invest one-third of the funds to buy Lanxing Bank, one-third of the funds to buy Jizhou Technology, and one third of the funds to hit the new stock or something, which was kept for backup.

After all, the stock market is unpredictable, and the risk of investing all your money at this high level is too great.

In the second half of 2007, after a violent shock of 530, after a two-month adjustment, the market miraculously returned to the upward trajectory.

The Shanghai Composite Index not only completely recovered the loss of the 530 plunge in just a few weeks, but also reached a new high in one day, bringing the index to an unprecedented height.

The reason for the surge in the market is as Sun Haoyang expected before, and the weighted sectors such as banks have started to rise again.

The market continues to hit new highs almost every day, and the enthusiasm of retail investors in the securities market is still very high, but corresponding to the soaring market index, the account profitability of Everbright retail investors is not optimistic at all.

The great bull market in the first half of 2007 was the general rallying stage, and as the main wave of the largest bull market in China's history, almost all stocks in the stock market rose sharply.

Therefore, at this stage, almost all stockholders, whether they are stock market masters or new rookies, as long as they buy stocks, as long as their luck is not too bad, they have made a lot of money.

During this period, there are even many new investors who are very puzzled, everyone in the stock market is making money, so who is losing money?

This answer was finally revealed after 530.

The plunge in the stock market in the week after 530 caused a large number of new retail investors to hand over all their previous profits in a shamble, and the rise in the broader market after 530 not only did not allow their stocks to rebound, but further increased their losses.

The fundamental reason for not making money in this kind of index, simply put, is the 28 phenomenon......

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