National Tide 1980.

Also in March, similar to the partnership between Ning Weimin and Zou Guodong, Mi Xiaoran formed an alliance with her former colleague Zhang Shihui in the domestic securities market.

However, the capital games they play are much simpler and more impulsive.

They're not looking for long-term investments; all they want is short-term profits and quick riches.

Just like five years ago in Tokyo, there were Japanese stock investors who rushed to the stock exchange every day with fervor.

…………

Objectively speaking, 1993 was undoubtedly a very auspicious year for the first generation of stock investors in China.

Because the first bear market they experienced last year lasted only six months.

As the new year of 1993 began, the bull market that had been dormant since the summer of 1992 finally awoke.

The market is experiencing another surge in bullish momentum, showing no signs of abating.

On January 22, Lunar New Year's Eve, while stock market investors across the country were celebrating the Spring Festival, exciting news came from the Shanghai Stock Exchange: the Shanghai Composite Index had surpassed 1 points.

This fact has given investors a glimpse of the market's future potential and boosted their confidence.

So after the Spring Festival, Shanghai stock investors gathered again at the entrance of the securities company. Some people couldn't contain their joy and spontaneously set off firecrackers at the entrance.

Those who already own stocks are in no hurry to sell, while those who don't own stocks are afraid of missing out on a great opportunity to make money, so they withdraw all their savings from the bank and immediately deposit them into the securities company's counter.

The stock market has become an increasingly crowded "walled city," with those inside unwilling to leave and those outside eager to get in.

The stock price was propelled by a powerful force and rose rapidly.

1993年2月9日，上证指数终于在早盘开盘的时候就轻而易举越过了1992年5月创下的那个1420.79点的“天价”，并继续展示出一往无前的气势。

As a result, investors were excited again, and more and more people poured their money into the stock market without hesitation.

At the same time, as the Shanghai Stock Exchange actively takes measures to expand its network with institutions outside the region, the number of out-of-town investors joining the Shanghai stock market is growing exponentially, and these factors in turn are driving the market to rise continuously.

Throughout February 1993, the Shanghai Composite Index continued to rise, sometimes by dozens or even hundreds of points a day.

Taking Aishi Co., Ltd. as an example, the highest transaction price reached 91.55 yuan.

At this time, the par value of the stock was one yuan, which means that the stock price of Aishi Co., Ltd. had become 91.55 times its par value.

Its price-to-earnings ratio is as high as three thousand times.

Theoretically speaking, if you buy Aishi shares at this price and only expect to get dividends, you will not break even until 3,000 years later.

Other stocks, while not as unbelievably high in price-to-earnings ratio at this time, were mostly in the hundreds of times range.

In reality, not a single stock investor expects to earn dividends; those are just "petty profits" in the stock market.

For stock market investors, as long as the stock price continues to rise, that's enough.

Huge price differences can be created in a single day. If you bet correctly, you can make a fortune in a day. They love to participate in such exciting financial games.

It was precisely at this time that Mi Xiaoran saw Zhang Shihui's success and decided to invest in the stock market.

…………

On a bright March morning, the sky was fully lit and a gentle spring breeze was blowing.

Ten minutes before the official opening at 8:00 AM, the Huaxia Securities branch, located at the northwest corner of the Dongsi Shitiao overpass, was already crowded with retail investors.

This is currently the largest securities trading branch in Beijing, and it will later become the most prestigious base for retail investors in the city.

It not only carries the stock market memories of a generation, but also exudes financial strength from the very beginning of its establishment in 1993.

They've rented an entire floor of a department store wholesale building, with the storefront facing the main road. A huge neon sign reading "Huaxia Securities" stands on the roof, visible from the entire street.

In addition, Fan Yonghong, a financial heavyweight with official connections, was parachuted in to serve as general manager.

This person is ambitious and has lofty aspirations. He is determined to build the Dongsi branch into a benchmark for securities firms in the north, aiming to rival the renowned Wanguo Huangpu branch in Shanghai. He has put forward the resounding slogan, "Huangpu in the south, Dongsi in the north."

However, although the newly opened branch has brand-new facilities and a spacious area, some management work is not quite in place, perhaps due to a shortage of manpower.

The parking lot in front of the gate is spacious but messy and disorderly. On the brand-new cement ground, luxury cars and old-fashioned bicycles are parked haphazardly, reflecting the current chaotic state of the stock market where everyone is rushing in and pursuing profits.

Even before the branch office opened, it was packed with people.

There were well-dressed cadres and businessmen, ordinary workers carrying cloth bags, and ordinary people carrying vegetable baskets. People from all walks of life and all sorts of backgrounds gathered here, and everyone's eyes held the eager expectation of getting rich overnight.

Sitting in her brand-new black BMW, Mi Xiaoran quietly watched the bustling crowd outside the window, a faint sense of disdain and superiority rising in her heart.

For no other reason than that this imported car was one she had just picked up, and it would be her personal vehicle from now on.

Furthermore, the principal invested in this market, amounting to a full 500,000 yuan, also came entirely from the policy benefits of the import car quota enjoyed by the joint venture's qualifications.

Compared to the average working-class family in the 1990s, whose monthly salary was only a few hundred yuan, and whose two thousand yuan was the hard-earned income of an average person for a year, this five hundred thousand yuan was undoubtedly an astronomical sum of money, and that was the source of her confidence to reap profits from others in the stock market.

With the car window half-rolled down, a cool spring breeze blew into the car, and Mi Xiaoran's gaze fell on the lawn beside her.

A few gray sparrows hopped and peeked around, sneaking around in the grass, looking furtive. They would dart away at the slightest sound, both clever and greedy.

Mi Xiaoran was slightly lost in thought when an interesting idea suddenly popped into her mind.

Sparrows are just mice with wings.

Stock market investors are like sparrows flitting about in the stock market.

They are no different; both are species that survive by seizing readily available resources and engaging in opportunistic trickery.

In her eyes, the group of retail investors who were following the trend in the stock market were almost as lowly, greedy, and profit-seeking as sparrows foraging for food and mice stealing food. However, they did not know that the stock market was essentially a game of big fish eating small fish.

Just as she was pondering this, the sound of two middle-aged women chatting clearly drifted into the car on the wind. Their straightforward and simple conversation completely confirmed her judgment.

"Did you sell your shares yesterday? The ones you have."

"I didn't dare to sell. Last time I sold, the price jumped by 3 yuan in less than two days. I missed out on a huge surge and regretted it so much."

"I'm the same way! The stock price drops as soon as I buy and rises as soon as I sell. It's like the stock market is deliberately working against us small investors."

How much did you earn last month?

"Only seven hundred yuan, barely enough to cover living expenses. What about you?"

"Exactly two thousand, not a penny more or less."

"Wow, you're amazing! You've been keeping this a secret. This is equivalent to my wife's entire year's salary. You're really lucky." These few casual words almost made Mi Xiaoran burst into laughter.

She shook her head inwardly, feeling that the domestic stock market was absurd and immature.

Even ordinary women who don't understand finance, market trends, or logic can easily make money in the stock market.

Someone like her, with ample capital and a certain understanding of mature Western capital markets, is bound to only win and never lose.

Despite her disdain, her confidence grew stronger.

While others view the stock market as a risky gamble, she sees it merely as a field where no one is there to harvest the韭菜 (a metaphor for easily exploited investors).

It is an excellent springboard for quickly cashing out and amplifying one's wealth.

At 8:50, Zhang Shihui, who was late, finally rushed over.

Mi Xiaoran's old-fashioned mobile phone rang. She answered the phone, but the signal was intermittent and there was constant static. Zhang Shihui on the other end of the line was full of apologies, and her tone was hurried and embarrassed.

"Xiaoran, Xiaoran... I'm so sorry, I drank too much at a business dinner last night and have a hangover... I overslept, I'm really sorry!"

Through the car window, Mi Xiaoran could see Zhang Shihui get out of his Ferrari, holding a phone and looking around anxiously. The anxiety on his face seemed genuine.

In addition, her impatience with waiting instantly disappeared because she was eager to get to the important business of the day.

She simply hung up the phone, got out of the car, and waved calmly.

Zhang Shihui was startled by her appearance, or rather, taken aback by her BMW.

Upon looking up and seeing the brand-new, impressive black BMW, Zhang Shihui paused in her tracks, her eyes instantly lighting up with a look of shared joy. She quickly stepped forward and showered him with sincere compliments.

"Ms. Mi is getting more and more impressive! This car is stylish and high-class. Looking at the business world in Beijing, there aren't many female bosses as capable as you! That's right, everyone needs a nice car, right?"

A series of straightforward and enthusiastic compliments precisely struck at Mi Xiaoran's vanity.

Her lips curved slightly upward, her expression relaxed, and the slight resentment she had felt while waiting vanished completely. Her tone also became more gentle and composed.

"Alright, we're all so familiar with each other now. Stop flattering me and just get me inside to open an account. Making money is the most important thing."

"Yes, yes, you're right, business is important. You can rest assured to leave everything inside to me. Their general manager gives me a lot of face, and I'll handle everything for you perfectly!"

Zhang Shihui nodded quickly and led the way, bringing Mi Xiaoran into the trading hall of Huaxia Securities' Dongsi branch.

Upon entering, a noisy and sweltering atmosphere hits you. A giant electronic display screen covering an entire wall occupies the most central position in the hall, with densely packed red and green numbers and constantly flashing stock codes, changing rapidly and dazzling the eyes.

The long wooden benches in the hall were packed with retail investors, all of them tense and staring intently at the screen. Some whispered about the rise and fall, some nervously clenched their fists and watched, and some excitedly whispered good news. The noise was loud and bustling, filled with the extreme atmosphere of the profit-seeking marketplace.

Although Mi Xiaoran had seen top-tier overseas financial markets, she was still somewhat taken aback and unfamiliar with this wild, vibrant, and chaotic trading scene for the first time.

Seeing that she looked slightly stunned, Zhang Shihui immediately smiled and comforted her, his tone familiar and confident.

"So, seeing everything here with your own eyes, isn't it impressive? To be honest, people who come here for the first time think it's intimidating, seeing all those numbers, but most of them have nothing to do with us. Outsiders see everyone as a financial expert or a seasoned veteran, but most of them are just laymen who follow the trend and buy and sell based on gut feeling."

Is the domestic market really as simple as you say?

Mi Xiaoran casually retorted, her eyes filled with a condescending scrutiny. "In the United States, stock trading is a very serious matter; only highly educated professionals can handle it."

"Haha, you said it yourself, that's America. As for here, I'll teach you the basics in ten minutes, and I guarantee you'll be able to get started right away!" Zhang Shihui patted his chest and gave her a guarantee, leading Mi Xiaoran straight to the service window, where he skillfully retrieved the account opening form and offered to help her fill in the information.

Give me your ID number.

Mi Xiaoran calmly took out her ID card, which she kept close to her body, and slowly recited the number.

Zhang Shihui filled out the form quickly while casually offering praise.

"Girl, you've been out for so long. It's impressive that you've still managed to maintain your Beijing identity. Well done, you're quite shrewd. I'm not saying this to be mean, but if you really became an American, you really wouldn't be able to trade stocks anymore. You could only watch from the sidelines."

Mi Xiaoran smiled faintly and did not reply.

In the 1990s, ordinary people were used to carrying cash with them when doing errands, and tens of thousands of yuan in principal was a heavy bag.

Mi Xiaoran brought a large suitcase today, which she herself could hardly lift.

After filling out the form, thanks to Zhang Shihui's help in carrying it, the money was successfully deposited into the bank.

After that, he took Mi Xiaoran to the securities account opening window.

Staff verified identities, entered information, and set transaction passwords. After confirming the input twice, they handed out several brand-new transaction cards, each printed with a unique shareholder code, which is the only proof for investors to enter the market.

"Keep the card safe, memorize the code and password. You'll need it for every transaction and every deposit/withdrawal."

Zhang Shihui gave a solemn instruction, then pulled Mi Xiaoran to a corner of the hall and began to quickly explain the underlying logic and trading rules of the stock market.

"Our stock market is definitely worlds apart from the US stock market. The scale is completely different. But ultimately, the stock market is where companies bypass banks and borrow money directly from ordinary people to raise funds. Every listed company has a unique code and a unique name; the code is like an ID card, and the name is its identity. The core of stock trading can be summed up in eight words: buy low, sell high, and profit from the difference..."

Zhang Shihui explained the specific methods of domestic trading in a simple and straightforward manner, without any obscure theories, and was full of practical tips.

Mi Xiaoran listened quietly, her ambition becoming increasingly clear in her eyes.

Having witnessed the mature rules and massive scale of the US stock market, her perspective far surpassed that of all the retail investors present, and she saw through the simple logic of buying low and selling high at a glance.

Zhang Shihui was increasingly impressed as she spoke, and at this point, she couldn't help but continue praising her.

"As expected of someone who has studied abroad and seen the world, you understand immediately! You're much better than 99% of the retail investors here. Many people have been trading for half a year and don't even know what stocks are; they just buy blindly based on luck. You have vision, capital, and understanding; you're sure to make a lot of money in this market."

As the explanation was being given, several staff members passed by in the hall. Upon seeing them, they all turned around and greeted Zhang Shihui, creating a cacophony of voices.

"Brother Zhang, have you sold your tickets yet?"

"Mr. Zhang! Jiabao has surged again, are you still holding on? You should cash out your profits now!"

Upon hearing the news, Zhang Shihui was overjoyed. "What? Jiabao's stock price has surged again? Really? How much?"

"It's gone up 8%, what are you doing? Staying at the brokerage firm, you don't even know what's going on with your own stocks!" the other person continued to tease.

Zhang Shihui said, "I'm helping a friend open an account."

Mi Xiaoran then realized the seriousness of the problem, "Did I delay your business?"

“No, it’s just that the stock went up! We can sell it now. Come with me, let’s go to the second floor to make the transaction.” Zhang Shihui spoke generously, but his expression betrayed him.

He turned and strode quickly towards the second floor, his steps hurried and his mind anxious, filled with the impatient desire for short-term profit, the fear of missing out, and the urgency to earn even a penny less. (End of Chapter)