"It's still falling! This unfavorable news has come one after another, and the stock market has not been able to get rid of the weakness, and has been in a predicament of weakness for a long time, only falling but not rising. From the beginning of the market crash on March 12, 1973, to September, Heungjiang's stock market has fallen by nearly 1,200 points. What a devastation! Lu Jiangfan said bitterly.

Gu Yaluo picked up the latest hot evening newspaper: it clearly wrote the devastated situation: after the catastrophic frenzy, the stock market has been unrecognizable, only about 4 months, the Hang Seng Index has fallen from the peak of more than 1700 points to more than 500 points, the difference between high and low is about 1200 points, and many hot blue chips have at least fallen by 70% and a half, or only 1/6 of the top. As for some penny stocks that are considered to be "mosquitoes and flies", they have a sense of "full of devastation", some of which are considered to be of better quality have of course fallen sharply, from more than 10 yuan to two or three yuan, or from five or six yuan to one or two yuan, and some of the lower quality have fallen below the reserve price, and the value of luck has returned to the original price of five or six percent, and some have not been bought and sold at all, and even the signboards have fallen to the bottom, and people have almost forgotten their existence.

Gu Yaluo looked at Lu Jiangfan, whose eyes were shining, and quipped, "Why do you want to copy the bottom!" I'm not afraid to go to hell. ”

"Where else can this stock market fall?" Lu Jiangfan rubbed his chin and narrowed his eyes and said, "I think it's a little bit fallable." ”

"Not necessarily!" Gu Yaluo took out a folder from the couch and handed it to Lu Jiangfan.

"What is this?" Lu Jiangfan took it and opened it, "It turned out to be a financial newspaper clipping!" ”

Since 1973. Due to the tense situation in the Middle East, some oil-producing countries have reduced production, which has caused international oil prices to rise. And the oil price of Hong Kong is also close behind. On January 2 of that year, the six major oil suppliers of the United Kingdom and the United States, which have dominated the Hong Kong energy market, announced that they would increase the prices of petroleum and related products from January 3, citing the rise in international oil prices, with an overall increase of 4.5%. Many oil-consuming industries such as transportation, plastic production and chemical fiber manufacturing have been greatly affected.

About half a year later, on July 4, the big six oil companies again raised their prices, citing increased costs. This time, the overall increase is about 5.0%.

At the end, a list of oil prices from the end of last year to September this year was attached.

Lu Jiangfan raised his head sharply and looked at her in shock. "I know that the tension in the Middle East has caused oil prices to rise again and again, so it is difficult for them to really fight."

"Uh-huh!" Gu Yaluo nodded.

"But the United States will let it go, and the situation in the Middle East is tense. Oil prices rose. It will also be a heavy blow to the U.S. economy! This is directly related to its own interests. Lu Jiangfan said quickly.

Gu Yaluo held her chin and asked, "Second uncle, what do you think of oil prices?" ”

"In the two decades since the war, the price of crude oil has been artificially low by the Big Seven, averaging about $1.80 per barrel, only about half the price of coal. OPEC was founded in 1960, and after a struggle, it only rose to $2.95 a barrel in January 1973. Middle Eastern oil-producing countries against the old capitalist oil system. In particular, the price is too low, and I am very dissatisfied. The demand for oil in the Western world has grown sharply, however. However, Western oil companies are unwilling to make concessions to the price increase demands of developing countries, which mainly produce oil, and the contradictions between the two sides are becoming more and more acute......" Lu Jiangfan said more and more serious on his face, "I know that more than 80% of the oil in Western Europe and Japan depends on imports, and the source of imports mainly depends on the Middle East, but this is too risky!" If the Middle East were to use oil as a weapon, the embargo would allow them to significantly reduce their oil exports and reduce their market share. ”

"Desperate?" Gu Yaluo crossed Erlang's legs, and her calves were cocked, "Second Uncle knows that the government revenue of Saudi Arabia, the world's largest oil producer, was only $1.4 billion in 1971, but you know how much benefit the oil price increase has brought from last year to now. ”

Gu Yaluo didn't wait for him to calculate and said directly, "30 billion US dollars, the wealth is moving!" When you taste the sweetness, you will definitely continue to fight. The current international oil price is only $3.01 per barrel, if the price of oil reaches $12 per barrel"

"Tsk...... The Middle East has gone from abject poverty to a rich man. Lu Jiangfan smacked his tongue and said.

Petroleum resources and water resources occupy an extremely important position in the national economy and people's livelihood, and are indispensable resources for social development and human survival. Oil, natural gas, etc. are important energy resources. In modern civilized society, if there is no energy, all modern material civilization will disappear with it. The regional distribution of the world's oil resources is unbalanced, and many international contradictions and conflicts have arisen as a result.

"The stock market crash has encountered an oil shortage, and it is difficult to rise!" Lu Jiangfan scratched his head and said, suddenly raised his eyes, looked at Gu Yaluo and said, "It seems that I can't go to the United States, I can't leave here at all." ”

"I know that you really can't go at the most critical moment of fighting with the British. The funds were handed over to Lucifer and the operation was done. Gu Yaluo said.

Lu Jiangfan looked at her with a smile and said, "You're really welcome." ”

Gu Yaluo picked up the water cup and took a sip before frowning and said, "You don't need to be polite to him." ”

The sharp and perceptive eyes glanced at her face faintly, and soon noticed that her face was not normal, and pursed her lips and smiled, "You're welcome!" ”

Looking at the orange in the sky, Gu Yaluo sighed, "The wind is up." ”

Lu Jiangfan turned his head and his deep eyes quietly fell on that quiet and indifferent face, and a slightly gentle low voice brushed his ears, "No wonder the style of Jiang Dan's clothes next season is bohemian or loose." ”

Gu Yaluo looked indifferently at the red sky, "Since the discovery of oil, the fate of Middle Easterners has begun to change. The increase in the price of oil will bring huge wealth and flood into the Middle East, as if overnight, the Middle Eastern oil-producing countries will transition from abject poverty to sudden wealth. As petrodollars rolled in, Middle Eastern oil producers watched an incredible influx of money. It has invested in and exceeded the scale of construction in an ordinary way, and has embarked on a large-scale economic development in an all-round way, which has greatly increased the welfare benefits of the state. Modern industry will rise in this area, desert agriculture will also be vigorous, modern cities will begin to take shape, and high-grade highways will extend in all directions. As a result of the increase in fiscal revenues, Middle Eastern oil-producing countries have used their fiscal surpluses to repay their domestic debts and build infrastructure. In Gulf countries such as Saudi Arabia and the United Arab Emirates, infrastructure construction projects with the participation of foreign companies will start one after another, and the demand for project financing is huge. The wealthy Gulf states are the largest market for exporters from other Arab countries and a major source of capital and investment from other Arab countries. ”

"Hmmm! It's tempting indeed. Lu Jiangfan nodded and said, "However, can we do it?" The language is not very good, and the situation in the Middle East is tense, will it not be safe. After all, we're duckweed! It's not like people who have a strong motherland as their backing. If it goes missing, it won't be recovered. ”

Gu Yaluo shook her head and smiled, Lucifer really spared no effort to please the future Lord Taishui for the sake of her mother's career.

By him threading the needle, it will definitely get twice the result with half the effort.

The Middle East, North Africa, nostalgic!

After sending Lu Jiangfan away, Gu Yaluo called Long Sen in Japan and began to sell or reduce some of the stocks he held! These stocks have been held for more than two years, and in the past two years, Japan's economy has grown rapidly and has multiplied several times.

&*&

At the same time, in the morning of the United States, at the breakfast table, Lucifer and He Zheng were also talking about the U.S. stock market.

"He Zheng reduced some of the stocks in your hands!" The chopsticks in Lucifer's hand hovered in the airway.

"Zheng Shao bought all the beautiful 50, how do you say that, yes, I remembered, once you have it, you don't want anything else!" Guan Zhiyong remembered and said, "That's right! I'm right! ”

In the '70s, Wall Street professionals vowed to return to "rational investment principles." As a result, concept stocks have become fashionable from time to time, and blue chips have become fashionable. Blue chips are never going to collapse like the most favored speculative companies of the 60s. There's no better way to buy shares in blue-chip companies and relax on the golf course.

At the time, there were only about 50 such high-quality growth stocks. They all have familiar names – IBM, Xerox, Avon, Kodak, McDonald's, Polaroid Ray, Disney, and so on, and they're collectively known as the "Pretty 50." These stocks are "large-cap" stocks, which means that an institutional investor can buy stocks heavily without causing large price fluctuations. Furthermore, because most professionals recognize that it is not impossible to open a position at the right time, it is difficult to do so, so these stocks make sense to them. So what does it matter if the price is temporarily too high when you buy it? These stocks have proven to be growth stocks, and the exorbitant prices paid now will sooner or later justify them. In addition, these stocks are like ancestral treasures that will never be sold, so they are also known as "one-time choice stocks". You only need to make a buy choice, and your portfolio management problems are solved once and for all.

"Avon's market capitalization is surprisingly higher than the total market value of all U.S. steel companies. Do you think it's reasonable? "Pension funds, insurance companies, mutual funds, trust funds, etc. are all flocking to buy these "one-time" blue-chip stocks. I don't need to teach you what it means! ”

Lucifer put down the chopsticks in his hand, supported his chin with both hands, looked at them indifferently with dark eyes, and said, "It is impossible for any company of considerable size to maintain a growth rate of 80 or 90 times P/E. The actions of these managers reaffirm the adage that beautifully packaged stupidity can sound like wisdom. ”

He Zheng suddenly remembered a sentence, "The ancestors of value investing, Graham and Dodd, asserted that any stock with a price-to-earnings ratio of more than 20 times will suffer losses from the perspective of long-term investment." ”

He Zheng stroked his forehead with his index finger and said, "But, this needs an opportunity!" That is, the fuse. (To be continued.) )