CHAPTER XXV
At one o'clock in the afternoon on Saturday, Sun Haoyang came to the securities company early.
The stock market is closed on weekends, and there are only a few customers on the trading floor who come to attend the lecture.
The trading floor of the sales department has been changed due to the relationship between waiting for the lecture meeting, the original business counter has become a podium, a curtain has been erected in the center of the hall, and a projector is placed behind it, which is connected to the computer on the counter.
In the next half hour, some customers came one after another, but until the lecture time of one and a half was announced on the phone, the total number of people who came was only thirty or forty, less than half of the expected.
Li Wenhui and Sun Haoyang made a total of 400 calls the day before, and there were hundreds of people who expressed their intention to come over, but in the end they came so pitifully, which shows how far the stock market has been depressed today!
But no matter how many people came, the lecture that had been prepared in advance had to be continued.
The first to come to the stage was a full-time analyst at a securities company, named Yang Zhiyuan, an old man in his sixties.
Yang Zhiyuan is an academic theorist, wearing a shirt and glasses with a pair of tortoiseshell frames on the bridge of his nose, and he has the appearance of an old pedant.
The main purpose of today's stock market lecture is to mobilize the enthusiasm of shareholders to trade, so Yang Zhiyuan gave a sensational speech at the beginning.
"First of all, thank you for taking the time out of your busy schedules to attend this seminar, but I promise you that after listening to the lecture today, you will feel that it is well worth it.
I know that one of the most controversial questions during this period is what will happen to the stock market in the future?
As the market has now fallen below 1,000 points and rebounded back, there are two voices in the market, one is that the stock market will continue to fall, until it falls to 800 points, and some people even claim that China's stock market will be overturned; Others believe that the darkest days of the stock market are behind us and that a rally is on the horizon.
So which is the correct answer?
The answer I analyzed was that it was neither a rebound, nor a fall, but a blowout. China's stock market is about to usher in a once-in-a-lifetime bull market!
There are two reasons for this.
First of all, there is the funding level. One of the most important factors in China's securities market is capital.
As long as there is enough money in the market, the market will rise, and on the contrary, if the market is depleted, the stock market will definitely fall.
The reason for this is that the Chinese stock market is a closed economy.
You can imagine thinking of China's economy as a balloon, and money as the air in the balloon.
This air is free-flowing, and if you press down at one end, the other end will bulge, and if you press down at that end, this air will bulge, and if you press down at both ends, you will bulge up from the middle.
As we all know, the current stock market is at its lowest moment, as the so-called extreme must be reversed, as long as we enter the stock market at this time, then we will be able to see the day when the stock market balloon puffs up.
Also, I don't know if you care about the central bank's currency issuance data. In the past two years, the central bank's money supply has been increasing, so where will this money end up when it is printed? There is only one answer, and that is the stock market.
On the other hand, the total market capitalization of China's stock market is already very low. The combined market capitalization of the Shanghai and Shenzhen stock exchanges is only 60% of GDP, which is very low.
As a country with a fast-growing economy, it is abnormal and unsustainable for the stock market to be so depressed.
According to the average of the rest of the world, the total market capitalization of the stock market should normally reach 150% of GDP. That is, the real value of the Chinese stock market is at least 2,500 points, not more than 1,000 points now.
So now is the best time to buy stocks......"
Yang Zhiyuan's speech was full of emotion, spoke passionately, and drew a big pie for shareholders.
Objectively speaking, what Yang Zhiyuan said is still very reasonable, and the various theoretical data analysis he said is very logical.
Unfortunately, the response from the audience was not enthusiastic.
The theories he painstakingly researched were basically in the left ear and out of the right ear in the ears of the customers, and few people really listened to them.
The reason for this is from two aspects.
First of all, the first aspect, what he said is too theoretical and academic, what currency supply, what GDP proportion, these things are a set of things, but how many real stockholders understand this?
You sing a song of spring and snow on the stage, even if you sing it euphemistically and movingly, but the audience is all lower riba people, and people don't understand this. The result is, of course, playing the piano to the cow, which has no effect.
On the other hand, and a more important reason, that is, the shareholders in the audience actually don't trust Yang Zhiyuan very much.
The stock market has been bearish for four years, and during these four years, Manager Pan of the sales department has asked Yang Zhiyuan to encourage customers to buy stocks in order to increase business volume.
Yang Zhiyuan was also forced to be helpless, and opened his eyes and said nonsense again and again with a clear conscience, blindly singing more markets. As a result, the shareholders who listened to his words naturally bought the set once.
After suffering many losses, the shareholders have learned to be obedient. Up to now, even if Yang Zhiyuan talks about lotus flowers, not many people are still willing to believe his words.
Then everyone may think it is strange, since everyone doesn't believe Yang Zhiyuan's words, why do they still come to listen to the lecture? Isn't that a waste of time?
The answer is that after this lecture by Yang Zhiyuan, the sales department of Crescent Road also prepared a lecture by another analyst. The people who came to the lecture this time were actually for that person.
Carefully speaking, this analyst is not a full-time analyst hired by the sales department of Crescent Road, but a pure private stock trading master.
This folk master's surname is Wu, he is in his 50s, and he doesn't know exactly what Sun Haoyang is, but everyone calls him Teacher Wu.
Mr. Wu is very burly, with a height of 190 cm and a shaved hairstyle, which is very rare among Shanghainese.
Later, when chatting with Sun Haoyang, Mr. Wu once revealed that he used to be an athlete when he was young, and he seemed to play water polo. He didn't say whether he had achieved anything, but it was probably not a particularly brilliant experience.
In addition, it is said that he also has a master's degree, and it is not clear what major he is, but no matter what he is studying, it is absolutely rare for a person of this age to have a master's degree.
Mr. Wu has a lot of experience in stock trading, and he is the first batch of shareholders since the birth of China's securities market, and he has been involved in the stock market since the era when he bought call warrants.
If you are careful, you can also find that as mentioned earlier, this person also pointed out that Sun Haoyang's father, Sun Ce, had speculated in stocks more than ten years ago, and the name of that stock was Sanspinning Machinery.
Sun Ce once made 1,000 yuan from the stock of Santextile Machinery under the guidance of Mr. Wu, but unfortunately he was not greedy enough, not only lost it all, but also owed a huge amount of debt.
The past is unbearable, so I won't mention it here.
Mr. Wu is a full-time securities broker in the business department of Tianhe Securities Wanyue Road, that is, a kind of work that pulls customers for the sales department, and then obtains commissions by pulling in customers' trading commission income.
In accordance with the law, the trading commission charged by securities companies shall not exceed 3/1000 of the transaction fee, but in fact, the commissions of Shanghai securities companies in this era are far below this standard.
Generally, the commission for on-site stock trading is about 2.5/1000, the commission for telephone orders is 2/1,000, and the commission for online trading is between 1/1,000 and 1.5/1,000.
In addition, if the amount of customer funds or trading volume is huge, this price can be negotiated. For example, the commission rate of Liangjing Investment Company mentioned above is 4/10,000.
(By 2015, due to the adjustment of the rate system, the commission for online transactions in Shanghai has generally dropped to 15 to 10,000, and the large capital is 20,000)
Of course, the Internet is not so popular in this era, especially for older stockholders, most of whom will not be able to access the Internet. Therefore, almost half of the business of securities companies comes from telephone and on-site entrustment.
The broker's commission for the client is additionally set according to special criteria. For example, for the customers brought in by Mr. Wu, no matter what kind of entrustment method is used, the commission rate will be capped at 3/1000, and half of the commission income belongs to the broker.
In other words, if the customer brought by Mr. Wu makes a transaction of 1 million, Mr. Wu can get 1,500 yuan. In this era, the average salary income of Shanghai people is only 3, 4,000 a month, which is equivalent to an average monthly turnover of more than 2 million.
The job of a securities broker is the lowest level of the securities industry, and the level of treatment is not much different from that of insurance companies selling insurance. But this job is also the easiest to get started, as long as you can speak well and be able to attract customers, there are almost no barriers to entry in this industry.
As a newcomer to the securities brokerage firm, it was very difficult to make 2 million transactions per month at the beginning.
The average retail investor trades two or three times a month in the stock account, and it may not be full of in and out, but when the market is better.
If the market is not good, the stock is trapped, and it is normal for a stock to be covered for two or three years.
In this case, stockbrokers need to bring in at least 1 million funds to ensure a monthly turnover of 2 million, which is not easy in a bear market.
But as the so-called champion in the industry, when you can do the work of a securities broker to the level of Mr. Wu, you can be regarded as a bull.
Although Mr. Wu is not young, he is very quick to accept new things, he usually surfs the Internet frequently, and he is also the anchor of a fixed chat channel in the Sina stock chat room.
Most of his clients are also drawn from fans who listen to his show online.
Mr. Wu is very talkative, and his basic theoretical knowledge of stocks is also rich and solid, and he often gives lectures to everyone.
The content of his lecture is very different from Yang Zhiyuan's, and the content of what he says is very approachable, even people who don't have much stock foundation can understand it.
What's more, because what he says every time he doesn't depend on the sales department, he doesn't have to worry too much. Everything is realistic, if you want to be short, you can be short, and if you want to be long, you can be long.
In this way, the accuracy of his analysis is relatively high, and most of the shareholders who listen to his analysis can make money, which is naturally more popular with shareholders.
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