Since 2001, ChinaAMC's securities industry has been suffering industry-wide losses for several consecutive years under the pressure of the bear market.

In 2005, with the bankruptcy of Nanfang and Dapeng, Huaxia Securities was reorganized, and Hantang and Minfa were entrusted to the entire industry to experience an unprecedented crisis of trust.

"The mountains and rivers are poor and there is no way out, and the willows and flowers are bright and another village."

The year 2006 is destined to be a watershed for China's securities industry.

This year, the Shanghai Composite Index has soared all the way to 2,600 points, out of the 16-year record high since the establishment of the stock market, and the securities industry, which is closely related to the stock market, has also ushered in a historic turning point.

With the bullish stock market, major brokerages have come out of the quagmire of the bear market.

The market is hot, and the trading volume has repeatedly hit new highs, especially those large brokerages with outlets across the country, such as Galaxy Securities, Guotai Junan, Shenwan, etc., have benefited the most.

Their number of accounts opened and margin has increased dramatically, and their contribution to the company's revenue is generally more than 50%.

China's securities industry, as if overnight, went from a desperate situation to a bumper harvest.

It is precisely because of this that in the early years, some securities companies that could not be listed because their performance was not up to standard began to move and planned to launch a new round of IPOs.

In the context of the listing of this brokerage, the performance of the brokerage began to receive more attention.

Orient Securities took the lead in releasing the unaudited financial statements for 2006: net profit reached 1.533 billion yuan, a year-on-year increase of 6.4 times.

This beautiful annual report has unveiled a corner of the brokerage's operation.

Although Infinity Securities is a rising star in the Huaxia securities industry, and the number of business departments is small, only distributed in South China, but in this year, the performance has also skyrocketed.

In the general manager's office, Li Xier held a copy of the "Securities Times" and read: "The China Securities Regulatory Commission said that in 2006, there were 93 securities companies that achieved profits, and many securities companies such as Pacific, Everbright, and China Merchants have announced preliminary listing plans."

"Ah Wei, now the stock market is good, there are many brokerages queuing up to be listed, should we take this opportunity to let the securities company go public first?"

Chen Jie sat on the sofa, took a sharp puff of his cigarette, and tapped the ashtray a few more times.

In addition to expanding its influence, sub-listing can also raise funds to obtain large sums of money, so that personal wealth will skyrocket again, as for the company's share capital, three consecutive years of profitability and other hard requirements, Infinity Securities has no problem at all.

"Let's take it slowly, let Lin Hai be familiar with the rules of the mainland again, and even if we want to go public, it will be no problem to find the Securities Regulatory Commission to cut in line." Chen Weidong turned off the software and explained to Chen Jie.

Securitization is the trend, but Infinity is not yet so short of money.

What's more, there are many things that are more urgent than the listing of subsidiaries, such as the imminent subprime mortgage crisis, how to fish in troubled waters and strive to maximize profits, these are the top priorities.

"Okay, listen to you, how far do you think the stock market can go?" Chen Jie nodded slightly and asked again.

In 06, the stock market was hot, and he bet heavily on the real estate sector.

With the announcement of the outstanding results of real estate companies, the stocks of real estate companies have doubled one after another, and the scale of the mixed fund he manages has exceeded 500 billion without any suspense, which is eight times higher than the second largest asset management of China AMC!

As of the end of December, the total market value of the Shanghai and Shenzhen stock markets was only 8.94 trillion.

From another point of view, Chen Jie is no longer just managing an ordinary fund, but helping people manage their finances.

Nearly 8 million investors have subscribed to his fund.

If he sells off the stocks he holds on a large scale, the stock market is very likely to trigger systemic risk, and it is not impossible to directly extinguish the flame of the bull market.

Chen Weidong thought about it, and now it's only January: "Half a year, at most another half a year, you will have to withdraw one after another, and when the market is crazy, it will accelerate its rise, and this is the best time to reduce your position." ”

"I understand the reason, but public funds cannot be short, and the Securities Regulatory Commission stipulates that at least 65% of the positions must be maintained." Chen Jie snuffed out the cigarette butt and said a little depressedly.

Retail investors can blindly be bullish on the market, but as the leader of the market, institutions must be risk-aware at all times.

I'd rather earn less than earn the last penny.

He has been a fund manager for so long, and he has also deeply realized that the play of small funds and large funds is completely different.

The amount of capital is so large that it has been out of the realm of technology.

Just like those so-called folk stock gods, once you operate a large amount of money, there will be big problems.

Because it is difficult to complete the opening of a position with large funds in a short period of time, it is necessary to strictly control the proportion of the trading volume to the daily trading volume of a single stock, so as not to affect the price of the stock as much as possible.

It's the same when taking profits out.

If the position is directly liquidated violently, it will not only cause the stock price to plummet, but also lead to a decrease in yield, affecting the overall sentiment of the sector and the market.

Therefore, when studying a strategy, size is a very important consideration, and it is necessary to calculate the time to open and close positions.

"Yours is a mixed fund, if the market is too bad, you can transfer some of the funds to the bond market, so it is not a short position."

Chen Weidong made a suggestion.

Of course, deep down, he still has a way not to say.

That is, the fund manager, if he predicts that there may be extreme markets in the future, such as a stock market crash or an avalanche, he can notify the customer to redeem in advance to preserve the income.

But this is contrary to the fund industry's goal of making money.

Whoever persuades the people to sell is to cut off the company's financial route, destroy the unspoken rules of the industry, and easily become the target of public criticism.

"That's all there is to it." Chen Jie sighed.

In terms of flexibility, public funds are indeed far worse than private funds, but since he chose to be the manager of this fund, he still has to do this well.

After all, he is also a person who wants to save face.

But sometimes when I think about it, I feel that it is so special, I am a billionaire with a net worth of tens of billions, and I am heartbroken for this little money of the people every day.

"Look at the news!"

Li Xi'er suddenly discovered something, and read with the newspaper: "A female college student went to a leading brokerage company to interview an administrative assistant, and was actually asked to dance one-on-one with the interviewer. ”

"And the criteria for judging, including enthusiasm and initiative, closeness, tightness, etc., is this an interview, or is it a first-class service?"

"Such a large brokerage company is still so chaotic, our company shouldn't have this situation, right?"

After speaking, she also glanced at Chen Weidong and Chen Jie scrutinically.

"Of course not, we eat by strength, we never engage in such messy things, and the female staff of the administrative department only accounts for less than one-tenth."

Chen Jie immediately explained.

He thought about it, but he restrained it.

After all, if he does this, his status is too low, and besides, does he need to work so hard to like a woman?

The gains simply outweigh the losses.

At this time, Chen Weidong said lightly: "Isn't this normal, what's the fuss, the administrative assistant was originally doing this, and the request was just direct." ”

"Heh, the social atmosphere is for you people." Li Xi'er was indignant and apparently very repulsive of this kind of behavior.

"Financial companies generally require beautiful women, one is to put a façade for the company, and the other is to communicate, and the little beauty yells at the throat, and the business is stable."

"Understood?"

Chen Weidong looks like you haven't seen the world.

"Deliberately asking girls to be in good shape and good-looking, and these messy requirements, you say it's normal, right?"

Li Xi'er sneered at each other, looking at Chen Weidong with a pair of big eyes, as if if he was not satisfied with his answer, he wanted him to look good.

"It's not so dirty, and the company doesn't want to have an improper relationship, which is not good for the company, but the general unspoken rules must be happy to see, just like accompanying wine, spoiling and the like, this is a must, this is external."

"Internally, it is also required to eat open, which can make employees comfortable, isn't this what the administration is supposed to do, otherwise why do you want to be an administrator?"

"It's all the responsibility of the administrative position."

"First of all, you have to understand that the secretary of the fund company, the administrator, is originally to eat this bowl of rice, as long as there is no improper relationship, that is a good employee, do you think a serious person can be qualified for this position?"

Chen Weidong patiently explained slowly.

"The subordinates are all beauties, dangling in front of you all day long, can you bear to only engage in ambiguity, wipe the edges, not up?" Li Xi'er raised her eyebrows and said coldly.

"Anyone who does this kind of thing is a fool and makes trouble for himself."

"There are a lot of women outside, and if you have to find your own secretary, isn't that looking for your own death?" Chen Weidong shrugged his shoulders, but anyone with a little brain, he knows how to choose.

"Then if you are secret, who knows?" Li Xi'er was speechless, still a little unconvinced.

Chen Weidong smiled and raised a finger: "First, it's impossible that no one knows, and second, even if no one knows, what if the secretary is dissatisfied with you one day?" As soon as the incident happened, the future was completely ruined, and few people dared to do this. ”

"Look at the news that broke out, they are all idiots who eat the grass by the nest, and more people who don't eat the grass by the nest are stable."

"A knife on the head of the color word, it also depends on who you are against, you are against your subordinates, it involves duty crimes or something, you can't say it, but you have nothing to do with it, at most, your life style is indiscriminate, and it is not a big deal."

"For companies, there can't be a relationship between men and women in the office, because public and private can't be defined, and in the end, it's very troublesome."

"Hahaha, Ah Wei, you're so right!"

As soon as the words fell, Chen Jie stood up from the chair with his hands clapped, feeling that he still had to study for the first time.

At least this kind of serious way of reasoning with women can be used for reference.

Sure enough, Li Xi'er's face turned pale: "What? You seem to be very experienced, you have been a fund manager? ”

(End of chapter)