After Ye Zifeng bought Shanghai Iron and Steel shares, the stock price fluctuated sideways near Ye Zifeng's purchase price, and the signs of stopping the fall were very obvious. In the past two days, Ye Zifeng knew on the trading floor that the sales department has financing and over-capital business for customers with good assets. This kind of business is illegal and not open to the public, and various securities companies privately conduct financing business for customers, but only those who know the inside information can handle it.

The procedure for handling financing is that the customer applies for financing or over-financing to his account manager, and after the account manager evaluates the feasibility of the customer, the account manager applies to the risk control center of the sales department, and finally the risk control center of the sales department evaluates the customer's assets, and then decides on the financing amount.

Ye Zifeng knows that this so-called risk assessment is to see how many assets the customer has, and then according to the amount of the client's assets, the sales department will decide the amount of financing to the customer.

So, Ye Zifeng decided to go to his account manager Luo Qingxue.

Luo Qingxue was watching the Shenzhen and Shanghai stock markets, and when she heard Ye Zifeng offer financing, Luo Qingxue was still shocked. Usually the customers who propose financing have a period of stock trading experience, like Ye Zifeng, who proposed financing for the first time when buying and selling stocks, Ye Zifeng is still the first.

Usually, when the customer proposes financing to the account manager, as long as the customer has assets as collateral, the account manager will handle it for him, because the amount of customer transaction commission determines the performance of the account manager, and the amount of customer transaction commission depends on the size of the customer's transaction volume.

But Luo Qingxue still raised her own questions: "Do you know what financing is? Do you know the risks of financing? ”

"Yes." Ye Zifeng sat across from her desk: "Financing is a monetary transaction method used to pay for purchases in excess of cash. ”

"This is the explanation in the New Palgrave Economic Dictionary, and I am not asking you about the explanation of the terms of financing, but I want to know how much you really know about financing and financing risks." Luo Qingxue said.

Luo Qingxue studied at Harvard's Department of Finance, so she naturally knows that Ye Zifeng's explanation comes from the "New Palgrave Economic Dictionary", which was co-authored by British economist Eitwell and American economists Millgate and Newman. Luo Qingxue knew that Ye Zifeng graduated from the Department of Finance of HKUST, and it was not surprising that she knew this.

At first, Luo Qingxue thought that Ye Zifeng was arranged by a certain family, and later checked his information to know that he graduated from the Department of Finance of the University of Science and Technology, from Xiang City, and now he lives alone in a community not far from here, Ye Zifeng's personal information is all blank, Luo Qingxue specially asked the staff in charge of opening an account in the VIP room, and the staff told her that Ye Zifeng was an orphan. Since he was a child, he lived with a Taoist priest, and when he was in college, the Taoist priest did not know where to go, so the column of his family members was empty.

When Luo Qingxue listened to it at the time, she felt like she was listening to a story. So he was very curious about Ye Zifeng, the girl's curiosity was so heavy, not to mention that Luo Qingxue and Ye Zifeng had a small intersection.

Ye Zifeng read Luo Qingxue's introduction on the bulletin board of the securities business department, graduated from the Harvard Department of Finance, and was the same age as himself, so Ye Zifeng said the professional explanation of the word "financing". Now seeing Luo Qingxue repeatedly ask him about financing and the risks of financing, Ye Zifeng had no choice but to say: "Financing in layman's terms means that I mortgage the assets to you, and you evaluate the mortgaged assets, and then trade them in a certain proportion if the amount exceeds the asset appraisal." The risk of it is that when the stock falls to the liquidation line, you will force the liquidation, and I will blow up the position, the principal will be left, and the account will be zero, which is the financing risk, right, Manager Luo. ”

"I know that you graduated from the Department of Finance of HKUST, and you are also a famous department, so there is no shortage of professional knowledge, but professional and practical operation are completely different things, the stock market is risky, and you need to be cautious when entering the market. Financing is riskier, so it is more cautious. And you have just entered the stock market, you have no practical experience, and you don't know how risky the stock market is? This * market fell, do you know how many big accounts have disappeared? Just look at how many people there are in our big room on the third floor, many of them have to leave the stock market because of financing. Luo Qingxue said earnestly. Luo Qingxue faced Ye Zifeng, completely without the position of a securities manager, and worried about Ye Zifeng in her heart.

"Thank you Manager Luo for your concern, I think you also know that I am an orphan with no background or any family background, and my funds are earned from the primary and semi-market in Xiangshi for others. So, Manager Luo, don't worry at all, I know what I'm doing now? Ye Zifeng said.

"You've ever been a trader? Primary and semi-market? Is it the over-the-counter one? Luo Qingxue was very surprised.

"Yes. There is also the black market for stocks. Ye Zifeng replied confidently.

"Since you have trading experience, I would like to know what is the basis for your financing? Bullish on the market? Or are you bullish on individual stocks? Luo Qingxue still didn't give up, Luo Qingxue was worried that Ye Zifeng wanted to raise money because he wanted to raise money on the spur of the moment, so he wanted to hear the reason for Ye Zifeng's financing.

"Manager Luo, look at the Shanghai market index." Ye Zifeng stood up, pressed the F3 key on the computer keyboard, opened the Shanghai K-line chart and said: "In May this year, the large-market index rose sharply from about 400 points to more than 1,400 points because of the cancellation of the limit on the rise and fall of stock prices, an increase of 3 times. Then build a platform near 1100 points, the stock index after completing a platform finishing, choose to break down, after the stock index fell below the 1100 point mark, the market formed a significant head, and then the stock index continued to fall, from the daily K-line, the stock index in the head after the determination, along the 5 antenna fall, in the process of falling, due to the deviation rate is too large, during which there are two weak rebounds. And from the weekly K-line, the stock index is very obvious along the 5-week weekly downward line, and in the near future it has walked out of the 10-week trend, the monthly K-line has walked out of the 4-week trend, and in the near future, the Shanghai Index is falling more and more weakly, there is a feeling that there is no way to fall, some stocks did not fall with the fall of the market, but out of the sideways trend, MACD, KDJ, BOLL and other technical indicators have appeared bottom divergence signal, especially this shrinking Yin Doji, the upper shadow and the lower shadow line are not long, It shows that the long and short forces have reached a balance, and the sell-off has dried up, so from the perspective of the disk, it should be a star of hope to stop falling, of course, if it is a yang doji, it will be better, it will be more clear that the market has bottomed out, combined with the above analysis, it is entirely possible for the market to see a short-term bottom in the near future. You say, is my reason for financing enough? ”

Luo Qingxue was completely stunned by Ye Zifeng's analysis, which was a complete copy of her internal investment strategy for the sales department. And she can be sure that Ye Zifeng is unlikely to see her strategy report, so these analyses are entirely from Ye Zifeng's own point of view, and Ye Zifeng is very skilled in the use of various technical indicators on K-line charts, and through the combination of daily K-line, weekly K-line and time-sharing charts, he can comprehensively analyze the trend of the market, and his professionalism has completely exceeded the level of ordinary securities analysts, at least Luo Qingxue thinks so.

"Manager Luo, isn't my reason enough?" Seeing Luo Qingxue in a daze, Ye Zifeng said again. Luo Qingxue came back to her senses at this time, she glanced at Ye Zifeng and said: "The reason is the reason, otherwise it is a strong word." If you want to finance, you can also finance, your conditions are also in line with our internal business regulations, I have checked your assets, you can finance up to three times the amount of funds, how much are you ready to finance? ”

"Financing at three times the total assets." Ye Zifeng said.

"Three? Are you sure to triple the amount? You must know that according to three times the amount of assets for financing, that is, as long as your stock falls by 30%, your stock will be forced to liquidate, you will lose all your money, your account will be left with nothing, from the day you raise the capital, your stock account will be monitored by the risk control center of the sales department, once your stock reaches the liquidation line, they will not hesitate to close the position, they will not be soft, do you understand? Luo Qingxue said.

"Of course I understand, Manager Luo, you just follow the rules!" Ye Zifeng said that of course he understands the risks of financing, and these risks, Ye Zifeng has fully evaluated, at the point of the market index, the benefits have far outweighed the risks, so Ye Zifeng firmly asked for financing at three times the amount. He knows that there is nothing 100% in this world, and the so-called Fugui is in danger, and when the benefits far outweigh the risks, Ye Zifeng naturally wants to let go.

"According to the regulations of the sales department, with your assets, if you triple the financing, you can raise more than 2 million." Luo Qingxue saw that Ye Zifeng was very firm, so she told Ye Zifeng. Then Luo Qingxue took out the financing risk disclosure book from the drawer and asked Ye Zifeng to read and fill it out carefully, and signed to confirm that it had been proved that Ye Zifeng had received the financing risk warning.

After Ye Zifeng signed, Luo Qingxue took Ye Zifeng to the risk control center of the business department and went through the relevant financing procedures, and soon, more than 2 million funds from the securities business department were transferred to Ye Zifeng's account, and at the same time, the risk control center began to monitor Ye Zifeng's account operation.