An investment institution in the Mainland.

At this moment, the boss of the agency was paying close attention to Fang Hong's live broadcast room, and he suddenly said secretly: "It seems that Fang Hong doesn't plan to be silent this time, he wants to take the move head-on and launch a counterattack, the strength is so great, the mountain rain is coming......"

At the financial forum on Thursday, everyone in the circle knew what the real reason was.

But at this moment, Fang Hong, who was still live broadcasting, saw him say clearly and unhurriedly: "So how to look at the bubble correctly?" The correct solution is not to rudely puncture the foam, but to let the foam expand properly and then fill the foam. ”

"Including high-tech companies, such as Apple's iOS 30% of the channel fee, commonly known as the 30% Apple tax, is directly 30% of the income, how high the tax is. How much is the VAT and business tax now? The former is 13%, the latter is 5%, and Apple will take 30% directly, and you can't get around it, so how much is Apple worth? Can Apple's market capitalization be called a bubble when it is so high? The huge income is all filled for you. ”

"So in financial transactions, finance itself is virtual, and virtual transactions are actually going to have bubbles, with high valuations in exchange for your assets, I am valuation, you are real value."

"And this kind of exchange through bubbles, what is sought is an unequal exchange, which is not the principle of equivalent exchange and equivalent operation sought in the real economy, what is really talked about in finance is unequal exchange, and what you do not have a bubble in exchange for what you don't have a bubble with."

"If you understand this, you can understand why Lao Magnesium's stock market must have a lot of bubbles, and the stock market must rise high, so that he can use what has bubbles to pay off what you don't have, and exchange the virtual value for your real value."

"But at the same time, Lao Magnesium definitely doesn't want your stock market to have a bubble, because your stock market has a bubble, how can he exchange the bubble for the real value of your bubble? And you also played with bubbles, and robbed him of his old magnesium cake, so of course he doesn't want your stock market to have a bubble, of course he wants your stock market to be pressed on the floor price. ”

At this time, the tens of millions of viewers in the live broadcast room suddenly realized that the barrage of swiping the screen is also all kinds of "learning", "so it is", "no wonder the old magnesium stock market has been bullish", "no wonder Big A has been so decadent" and so on.

After a while, Fang Hong suddenly had an expression that seemed to be smiling, and said intriguingly: "Then, we have some so-called financial experts in the mainland, they follow what Lao Magnesium says, they don't have their own theoretical basis at all, they don't have their own theoretical model, this is called parroting the tongue, learning a tongue is an expert in the field, but does the parrot learn to speak what it means when it learns to speak human words?" We know that parrots can speak human language, but they don't even know what that means. Learning to speak human is not a human being, and it is still an avian animal at heart. ”

As soon as these words came out, the barrage in the live broadcast room was full of "hahaha" swiping the screen.

There are many experts in the live broadcast room, and there are many mouthpieces of those people who are watching, and when they hear Fang Hong's scolding and sweary words on the screen, they are being picked up by Fang Hong, and their faces are also blue with anger.

Especially at the financial forum on Thursday, the people who showed up there and said with a worried look that the bubble of the new stock 50 index was huge and very dangerous, and their faces were turning green at the moment.

The people who made the attack were also pale, and they couldn't wait to cut off the live broadcast room directly, they definitely wanted to do this, and if they could do it, they would definitely do it.

But they can't do it, the Lingke TV platform is a subsidiary of Qunxing, and Qunxing Capital has mastered new media platforms, such as Weibo, WeChat, Douyin, Yixing Video and other online media platforms.

At this time, the traffic is tilted, the exposure and propagation range are leveraged, and what Fang Hong said in the live broadcast room today will quickly spread to everyone.

At this moment, Fang Hong continued to speak freely: "I can also tell you that the practical faction in Europe and the United States does not write articles and does not share, and you can't see that Wall Street directly makes money, of course, the stars also belong to the practical faction, so you can't see what research reports and analyses the stars write, how can you do this if you want to make money." ”

Everyone didn't expect Fang Hong to say so generously, this wave of AOE damage is not small, and today is to be full firepower.

Fang Hong continued: "Corresponding to the actual combat school, there is also the academic school, just look at the things written by the so-called academic school, basically use them to fool people, and then master a group of parrots who learn to speak, how to fool you into the ditch." ”

When the parrots heard this, they were furious!

After a while, the audience in the live broadcast room saw Fang Hong and said with a faint smile: "If your stock market rises a little, he will clamor for bubbles every day, take a look at those financial data and the current economic trend, if you really want to become a power in the financial field, you have to turn over history and see how those who shout bubble theorists every day are slapped in the face." ”

"A lot of times he hides after being slapped in the face, ordinary people can't turn it out, it's time to turn it out and let the sun bask in it, and then completely liquidate it, liquidate it clearly, and then re-understand the world and finance."

At this moment, the group of people who were in trouble were watching the live broadcast, and when they heard Fang Hong's words, they were shocked, especially when they heard the word "liquidation".

The people in the circle were equally shocked, is this going to be a showdown?

People from all walks of life didn't expect Fang Hong's firepower to be so ferocious, today he said it so bluntly in this kind of public occasion, and the strong signal released by it People from all walks of life have felt it, you take the initiative to attack me, things can't be kind, in the face of the next counterattack, no matter how light it is, you have to drop a piece of meat, and you dare not imagine it.

It's a big deal......

A feeling of impending mountain rain makes people from all walks of life feel more and more intense.

At this moment, Fang Hong still said calmly: "Don't completely turn out these parrots of bubble theory, don't sweep them into the garbage heap of history, and let these parrots preside over our financial theories, and then influence our financial policies, think about whether our market can get better?" ”

After a pause, Fang Hong continued: "Your market is slightly better, and the parrot jumps out and says that there is a bubble, a risk, and a crisis." Between the lines, there is a pair of good for you, whether it is really good for you, you have to think carefully. ”

"And what is the actual situation, is that after they say the bubble theory, the next thing is to short, and then they don't want to engage in securities lending, what refinancing, and then start shorting you."

"After shorting, I still say that this is called puncturing the bubble, saying that this is called value return, eh. Put the price of your assets at a very low position on the floor price, and then people can use the money to buy your high-quality assets at the price of cabbage, whether it is foreign capital or other funds, they will exchange things with bubbles for things that you don't have bubbles, and things with imaginary value for things with real value, so as to achieve the purpose of this unequal exchange. ”

"There is a bubble, the asset corresponds to the currency, and then you see that the currency corresponds to the exchange rate, that is to say, he holds up the bubble, your bubble goes down, the corresponding exchange rate is the depreciation of your currency, he becomes valuable, he can use his strong exchange rate to buy your good things cheaper."

At this moment, people from all walks of life in Fang Hong's live broadcast room, whether they are ordinary retail shareholders, melon-eating netizens, or people in the media and capital circles, are more and more shocked, they did not expect Fang Hong's output of firepower to become more and more fierce.

It is giving people more and more a posture that wants a showdown and doesn't even want to maintain the appearance of harmony.

At this moment, Fang Hong still maintained the most fierce firepower and continued to output, only to see him say: "Our stock market has a great advantage in shorting in the top-level design, especially since the opening of the securities lending business, and it has also created a securities lending transaction that can be agreed to 'exchange currency for securities', which is simply against the sky." ”

"We know that if you are short, for example, if you think the stock is going to fall, you want to go short, so you borrow the stock and sell it at the price of 10 yuan, and then the stock price falls, for example, after falling to 5 yuan, you buy back the stock and return it, not counting the transaction cost, and the 5 yuan difference is your short profit."

"The so-called 'currency in exchange for coupons' means that after you are short, you don't need to buy it back directly from the market when you settle, and you can agree on the market price with the brokerage, such as closing the transaction directly with cash repayment at the current latest market price."

"That's obviously more cost-effective to repay directly with cash, because if you repay with bonds, you will buy back the stocks from the market, and when you buy back the stocks when your volume is large, the stock price will continue to rise, and you will have to spend more costs, but it will not happen if you repay the bonds directly."

"This has also become a way for major shareholders to realize and reduce their holdings, so every major positive in the market has become a temptation for the next short, and longs need to be supported by performance, on the other hand, it is easy to short."

Many retail investors don't even know that securities lending can also be played with "currency for bonds", because most retail investors can't reach the threshold of securities lending, so they haven't had an in-depth understanding, if Fang Hong hadn't said it in the live broadcast room at this time, he still wouldn't know about it.

At this moment, the barrage in the live broadcast room also imitated Fang Hong's previous tone, and the barrage played the word "against the sky" to swipe the live broadcast room.

No wonder the big A has not been able to rise over the years, no wonder there is always an endless number of chips to buy at the bottom, co-authors can have no scruples when they go in, and they can 'replace the coupons with coins' to close the transaction, and there is no need to buy the coupons back from the market and return them, so there is almost no need to worry about being forced to empty and liquidate, of course, you can go to the dead, and the bullets can be smashed to death indefinitely.

That's it, if it can rise, there will be ghosts.

Many retail investors who were watching the live broadcast, especially when they learned about these things for the first time, were really angry, and finally soberly understood that they were playing a game that must be lost.

A small scatter watching the live broadcast with a mobile phone in a certain place said angrily: "What about this mud horse? Next week, you will directly cut the meat and clear the position and buy the new 50 ETF. ”

This small stock scattered on the main board has been trapped for more than half a year, and it has long been cut in half, and it was originally planned to lie down and pretend to be dead.

But at this moment, he finally realized that there was no hope of recovering his capital, and the more he covered his position, the worse it fell, especially the lending of some ETF funds on the main board, which was tantamount to spending money to buy chips, and then being lent out by institutions to collect interest, and in turn smashing his own disk.

At this moment, more and more people no longer have illusions about their deeply trapped accounts, and decide to open their positions decisively at the opening of next week, and then move to the SGX without hesitation, and plan to buy the new 50 ETF without hesitation.

Because SGX does not have restricted stock refinancing, no quantitative trading, and no securities lending, the institution is still T+3 system.

In other words, if you want to go short on the SGX, you can't sell the stocks that don't belong to you, and the so-called securities lending is to sell things that don't belong to you, which is not allowed on the SGX.

If you want to short on the SGX, you have to go long first, you have to buy the stock first, and after you buy it, the stock belongs to you, and then you want to sell short, then it's okay, you can just be short, and you can do whatever you want with what belongs to you.

At the same time, the group of people who attacked were already frightened, and even a sense of fear arose.

What level of character is Fang Hong now? It made those people sweat now that they thought about another question, is there a possibility that Fang Hong's words today, what rumors has he received? Could it be a precursor to a real reckoning?

When I think of this level, I am instantly terrified and sweaty.

But in the live broadcast room at this moment, Fang Hong was still open and said: "...... Speaking of our purchasing power parity, we have surpassed the old magnesium a few years ago, but he said that according to the purchasing power parity, his things are expensive, his exchange rate is high, and his labor alone can be exchanged for the labor of several or even a dozen people, which has become such an unreasonable way of economic distribution. ”

Fang Hong suddenly asked rhetorically: "The same brushing plates, the same brushing of the same number of plates, his labor return can top the labor return of more than a dozen of you, do you think it is reasonable?" Do you accept it again? ”

Immediately afterwards, Fang Hong said: "So how to understand bubbles, in fact, we must have a deep theoretical introspection, we actually have to completely change the theories of parrots, and for those bubble theorists, we must also turn out and whip the corpse, not to mention that many of them are still kicking their legs, and it is not a corpse that lives well." ”

"Then take it out and have a good day, for what kind of mistakes their remarks have, deeply understand and understand, debate and debate, figure out what is going on, they are shouting bubbles every day, what do they want to do? Which side the hell are their asses sitting on? All of these must be deeply understood. ”

People from all walks of life in the live broadcast room were shocked by Fang Hong's full-fledged output, and some people who rushed to watch the excitement gradually realized that this matter was a bit serious. also said this, if you are a melon-eating netizen, no one will care, and it will not make any waves.

But it's another thing to say these words from a person of tremendous energy and influence.

And many ordinary netizens suddenly realized at this moment, and many retail investors also woke up like a dream, and finally understood why Big A has always pulled his crotch so much over the years, and finally knew where the reason was.

It turned out that there were ghosts and ghosts who were making trouble, and even colluded inside and outside.

At this moment, Fang Hong's barrage in the live broadcast room was swiped by the words "completely liquidated", and thousands of netizens and viewers posted barrages to type these four big characters, and many of those people were diving in the live broadcast room and watching silently.

But when they saw the word "liquidation" on the screen in the live broadcast room, the fear in their hearts was soaring exponentially, and they were frightened when they saw the dazzling words, angry when they saw it, and sweaty when they saw it......

…… (End of chapter)