"The main rise in the first phase of the bull market." Hearing Liu Changling's words, Shao Xiaoyun was slightly stunned, and after a while, he responded, "Hehe, yes, I feel that the market has indeed entered the first stage of the bull market. ”

"Predictable...... In the future, the market will continue to be short. Liu Changling said.

Shao Xiaoyun nodded, thought for a while, and continued: "Do you think this fund product we manage is ...... at this time? Is there room for further rebalancing, or can we continue to chase the hot stocks and weighted leading stocks related to the core mainline that are performing well in the market? ”

"That depends on what Mr. Shao expects in your heart." Liu Changling said, "the market is rising, the whole market from the previous local upward trend, quickly transformed to a comprehensive upward trend, even if we maintain a static position, we should be able to eat the dividends of this part of the market main rising stage, and a high probability of outperforming the market index, but to obtain more market excess profits."

In order to enable the fund products we manage to create better net worth performance, or to be on the annual performance list of related products in the industry.

Then I think it is still far from enough to simply hold a static position and maintain the previous trading strategy.

After all, in the market bull market pattern, it is basically clear.

And the entire market, all the main capital groups, are all in the case of accelerating the increase in positions and going long in an all-round way.

At this stage, basically far-sighted, or enterprising asset management institutions in the industry, as well as many asset management fund managers, should choose more aggressive trading strategies.

In other words, at this time, the positions of many fund products should have reached a higher position.

In other words, everyone has the same basic starting point in position management and position control.

In this case, if you want to surpass the performance of these similar fund products, you need to do more things. ”

After listening to Liu Changling's words, Shao Xiaoyun responded: "There is no doubt that I naturally want the fund product we manage to obtain more excess profits in the market, and at the same time, take advantage of the end of the year to increase the net value of the fund, at least to achieve the performance target we set at the beginning of the year, right?" ”

"Then we will have to continue to choose a more aggressive trading strategy." Liu Changling said.

Shao Xiaoyun nodded and continued: "What do you think is the appropriate trading strategy for us to get more market excess profits at this moment?" ”

Liu Changling thought for a while and said: "The current market trend pattern of the entire market is still the market pattern of 'the strong are always strong, and the weak are always weak'.

If we want to obtain excess profits in the market, the landing point of its trading strategy.

It has to fall into these areas. ”

Shao Xiaoyun heard Liu Changling's words, pondered for a moment, and responded, "What do you mean...... We continue to select our positions and concentrate our positions to attack the popular leading stocks in the popular main line areas of 'big finance, big infrastructure, military industry, film and television media, and sub-new stocks', which are still strong and continue to break through? ”

"Yes!" Liu Changling nodded and continued, "'The best of the best, the best of the strong', if you want to obtain excess profits in the market, you must embrace the popular market leader with the strongest money-making effect, otherwise it will be difficult to greatly exceed the increase in the market in the short and medium term, and the net value of the fund will be quickly increased." ”

"But these hot stocks, the current position, is not low." Shao Xiaoyun was a little worried.

Liu Changling said: "The bull market is heavy, the bear market is heavy, although the current position of these popular stocks is not low, but compared with other stocks, it is still the strongest money-making effect in the market, the main capital group follows the trend, and even grabs the most active stocks, as long as the market sentiment continues to be hot, the sentiment of doing long and the power of the bulls, is still continuing to ferment, then for the market, a large number of active capital groups, as well as a large number of incremental capital groups poured in over-the-counter, the first target of increasing positions, and the target of attack."

It will definitely be the leading stocks with the strongest money-making effect, the most cohesive bullish sentiment, and the most able to drive the market.

In other words......

Under the comprehensive bull market pattern of the market, these stocks are still the best stocks in the two markets, with the best investment cost performance and profit and loss ratio.

There is also excess profits, which are inherently accompanied by certain uncertain risks.

I think as long as the profit and loss ratio is good, there is nothing wrong with further concentrating on holdings and increasing the weight of these popular stocks and concept leading stocks.

There is also the original position direction of our fund products.

It has been concentrated in the core main areas of 'big finance, big infrastructure, military industry, film and television media, and sub-new stocks'.

Even if you are not concentrated, continue to diversify your positions like this, in fact, once the market undergoes an extreme adjustment, or a continuous adjustment trend.

The market correction risk faced by us after we concentrate our positions.

Basically, there is no difference. ”

After listening to Liu Changling's analysis, Shao Xiaoyun pondered it carefully, and felt that what Liu Changling said did make some sense, and the current market trend can be described as a rainbow, and strong stocks are constantly reaching new highs, and there is no room for downward adjustment at all.

It seems that the investment risk is indeed within a controllable range.

Moreover, in order to obtain more market excess profits, and further reach a new level of net value of the fund.

It seems that in addition to the method that Liu Changling said, there is no other better way in the short and medium term.

So, after thinking carefully for a while, Shao Xiaoyun finally nodded and said: "Since the overall trend risk of the market is controllable, and the incremental capital group, as well as the market's long-term investment confidence and investment sentiment, are still fermenting and deepening, and they are still rising, then according to what Changling just said, 'Choose the best of the best, Choose the strongest of the strong', reduce positions and take profits, among the stocks held by our fund, which are relatively weak, or cannot outperform the constituent stocks of the market index, so as to concentrate the reduced positions on the popular weighted stocks that can outperform the market and continue to gather the main funds, and the stock prices are still rising, even hitting a new high. ”

"Good!" Liu Changling nodded.

Immediately, he quickly turned his head to the group of traders behind him and gave relevant trading orders.

Let everyone further concentrate their positions and gather funds to the two markets with the best upward trend, and at the same time, the strongest expectations, and the main funds follow the trend most actively A number of popular weighted stocks and concept leading stocks.

With the decisive adjustment of positions after discussion, and further concentrated positions to do long strategies.

Almost at the same time......

Many industry institutions that previously had insufficient positions, or had not had time to fully increase their positions before, are also continuing to increase their positions on a large scale and pouring into strong and popular stocks and related weighted stocks in core main areas such as 'big finance', 'big infrastructure', 'military industry', 'film and television media', and 'sub-new stocks'.

Among them, such as the Modu Xin'an Financial Investment Company.

'Future Investment Mixed Selection' Fund Product Trading Department, in the Internal Trading Room.

Zhao Zhongming, the product fund manager, stared at the rapid breakthrough market trend of the two cities, as well as other non-popular mainline-related sectors with the trend gap between the trend-related sectors of the popular mainline sectors such as 'big finance', 'big infrastructure', 'military industry', 'film and television media', and 'sub-new stocks'.

"Boss, at this time, we will concentrate on chasing positions and adjusting positions...... Hearing Zhao Zhongming's words, Yi Xiaopeng, as the leader of the trading team of this fund product, was slightly startled, hesitated for a while, and couldn't help but say, "It's a bit of chasing up and down, like this...... Is it really suitable? ”

Zhao Zhongming heard the doubts in Yi Xiaopeng's heart, sighed helplessly, and said: "I also know that our fund products paid attention to position risk control before, and in terms of specific positions, they were too scattered, so that the positions in the popular main line areas such as 'big finance', 'big infrastructure', and 'military industry' did not account for too much of the proportion of positions, and thus did not eat too much market profits under the full outbreak of these core main lines."

But now, the main line of the market is already fully concentrated on these core main lines.

If we don't make any changes to our trading strategy.

I'm afraid I will continue to underperform the market index.

Seeing that the time at the end of the year is coming, the ranking of the performance of fund products in the industry is also close at hand, but the current net value performance of our fund products, as well as the performance ranking of related fund products in the industry, are not ideal, and they have not met the expectations of the beginning of the year or even the first half of the year.

And so on......

Not only will investors be disappointed with us, but there will also be huge problems with business development next year!

What's more, the active capital groups and main capital groups in the market have been completely siphoned out by the hot mainline related industry sectors and concept sectors such as 'big finance', 'big infrastructure', 'military industry', 'film and television media', and 'sub-new stocks', as well as a number of popular stocks and weighted leading stocks.

In this case, other non-popular mainline sectors, as well as the corresponding constituent stocks.

It simply does not get the attention of the main funding group.

There is simply no active bullish capital force to take the initiative to attack, open up their upside and stock price space, and further condense their money-making effect.

In other words, these constituent stocks in non-popular mainline areas.

The trend gap with the popular leading stocks in the hot main line field, the trend gap, under the completely different power of longs, will only get bigger and bigger.

We continue to hold on to these non-popular mainline constituent stocks, which is just a waste of opportunity and time.

Our A-shares, under the pattern of market investor participation groups, mainly retail investors, are destined to be the mainstream investment method based on trend investment.

If we don't follow the trend, we will only be left farther and farther away by the market.

The gap between the net value of the main fund products of other industry institutions that follow the trend is getting wider and wider.

Therefore, in order to rank the performance of fund products at the end of the year, and also to enable us to obtain more excess profits from the market, so that investors who invest in us are satisfied.

Even if you know that in the market, a number of popular stocks in these hot main line areas have been at short-term highs.

We also had to rebalance our positions passively to keep up with this trend change in the market.

You know, keep up with the trend, grasp the main line of the market, and eventually lose money, investors will only say that it is the problem of the market, and if they do not keep up with the trend and end up losing money, investors will complain that it is the problem of our managers, not to mention ...... It's a bull market right now!

The principle of 'the strong will always be strong, and the weak will always be weak', which still works in the bull market stage.

Since our previous investment strategy and trading strategy were conservative, and since we couldn't keep up with the trend changes in the market and the broader market index, we had to change, we had to change. ”

"But we have no cost advantage in several popular main areas of the market." Yi Xiaopeng also knew the difficulties in Zhao Zhongming's heart, and even knew the embarrassment of their positions at the moment, and said helplessly, "If there is no cost advantage, it will be difficult to withstand the huge fluctuations in these main line areas, and if you can't withstand the huge fluctuations, it will be difficult to really hold the chips in your hands.

Not to mention ......"

Yi Xiaopeng exhaled, paused, and continued: "What if there is another rotation and switching in the next market situation?" Then we are completely wrong about the rhythm of the market, so ...... Not only will it not be able to catch up with the broader market index, but it will also suffer a certain amount of losses, which will deal a greater blow to the net value of our fund products. ”

"Do you have a better strategy for improvement?" Zhao Zhongming thought for a moment and asked.

Yi Xiaopeng pondered for a while and said: "I don't think we need to be too anxious, or wait for a better position adjustment and stock exchange node, if this is a big bull market, the market cannot only last for a month, and I think that the main line areas such as 'big consumption', 'non-ferrous cycle', 'petrochemical', and fully adjusted 'mobile Internet' and 'smart phone industry chain' are not without the opportunity to completely get out of the shock platform and rise in an all-round way." ”

"Continue to maintain a static position, continue to wait?" When Zhao Zhongming heard Yi Xiaopeng's words, he frowned visibly and said, "Time waits for no one, the current form of the market is already a highly deterministic bull market pattern, and the next ...... There will be more and more incremental capital groups pouring into the market.

There will also be more and more major capital groups, as well as institutional capital groups with insufficient positions before.

Large-scale rebalancing in the direction of the main line of 'big finance' and 'big infrastructure'.

If we don't make a choice at this time and continue to wait, we will obviously miss more opportunities.

At that time, the stock prices and valuations of these weighted stocks and high-quality stocks in the popular main line direction will become higher and higher, and the short-forcing situation will become more and more serious, and it will be more difficult to get started.

I think...... Rather than this, it is better to increase the position on the right side at this time. ”

After speaking, Zhao Zhongming looked at Yi Xiaopeng again.

Yi Xiaopeng struggled slightly in his heart, thinking that if he was wrong, the main position of the fund product would be completely empty, and he really couldn't afford this responsibility, so he finally pondered for a long time, but he still had to agree to Zhao Zhongming's proposal and responded: "Then follow the trading strategy you said, boss!" ”

After speaking, Yi Xiaopeng immediately issued relevant position adjustment instructions to the traders behind him.

Then, when the order was given, he turned his eyes back to the trading disk of the two markets, only to see that at this time, the trading time of the market had entered about 10:30.

The Shanghai Index, the Shenzhen Index, the ChiNext Index, and several core indices continue to fluctuate higher, refreshing new highs on the disk.

At the same time, the active capital groups and main capital groups in the two cities are also continuing to converge on popular main line areas such as 'big finance', 'big infrastructure', 'military industry', 'film and television media', and 'sub-new stocks', especially the trend of the 'Internet finance' sector and the 'sub-new shares' sector, which is still getting more and more intense, and the money-making effect is also becoming more and more popular in the radical capital follow-up. (End of chapter)