Starting with a fully invested A-share portfolio to become a capital...

Chapter 179: At midnight, Taobao traffic was activated, and there was a collective bearish sentiment towards the A-share market.

"The bull market's tail is strong and thick! Net inflow of 200 billion yuan from major funds in the midday session; both major indices closed with lower shadows indicating recovery!"

Let them be strong, the breeze still caresses the mountain ridge; the "Great Power Bull Market" is emerging—understand why this round of stock market frenzy is happening in just three minutes!

Breaking News! State funds intervene to rescue the market, the Shanghai Composite Index recovers by over 100 points, and multiple institutional figures state that the bull market in China is still charging forward!

The moment the market closed, a deluge of bullish press releases flooded the internet, causing panicked funds that had already "withdrew," along with those who had been waiting on the sidelines, to become eager to jump in.

The A-share market is a policy-driven market; whether it rises or falls depends on the attitude of the authorities.

With the government's intervention in the market confirmed, some investors began speculating, believing that A-shares could continue to rise.

After Liao Guopei and Lin Guangchang left the company, Zhang Yang took off his "Fuchun Road" persona and became a guardian of retail investors.

Post-market analysis is a good habit, but most stock market investors don't do it.

Zhang Yang first opened the Huaguo Architecture website to check its various data.

"The transaction volume reached 300 billion, and the dynamic price-to-earnings ratio was 38 times, significantly higher than the industry average of 17 times, indicating obvious over-speculation. The turnover rate was also high..."

Thinking of this, he opened the document containing his recorded turnover rate.

Huaguo Construction's turnover rate in the 15-minute opening auction was 17%. By 10:00 AM, the turnover rate had reached 23%. Near the 11:30 AM closing, the turnover rate doubled to 46%, indicating that a large amount of funds chose to reduce their positions and wait and see, or simply cleared out their positions and left the market during the stock price surge.

In the afternoon, Huaguo Construction's turnover rate increased by only 22.6% in the two hours, with a full-day turnover rate of 68.6%. This indicates that selling pressure is gradually decreasing. Moreover, 14% of the 22.6% turnover rate was generated by the afternoon's rise in the two major indices, and there was no panic selling during the subsequent slight dip.

A turnover rate of 68.6% may seem alarming, but it is actually a normal occurrence on the first day of a new stock listing.

Almost all newly listed stocks have a turnover rate of over 50% on their first day of trading.

Many stock investors study technical indices such as MACD, support levels, and volume-price relationships, but easily overlook turnover rate.

Like trading volume, turnover rate is a real indicator of capital transactions. Many investors use turnover rate simply to judge the activity level of a stock, but in fact, using it in conjunction with intraday charts and the KDJ indicator can better determine the intentions of major investors.

This is because if a stock manipulator wants to fake stock activity, they must take into account technical indicators such as trading volume, turnover rate, and candlestick patterns. Among these, it is difficult to maintain the turnover rate in real time because it requires real-time trading, which is too much work. Manipulators are bound to make mistakes, or they may simply create a surge in volume at a specific time to fake it.

After glancing at the other indicators, Zhang Yang tried to analyze: "The turnover rate increases rapidly during the three time points of the opening auction, the morning closing, and the afternoon market rally. The opening auction is the point of concentrated selling pressure for new shares. During the morning closing phase, the sell orders are mainly small and medium-sized orders. It is unlikely that small and medium-sized orders will be split into smaller orders on the first day, and there is no need for funds to be disguised."

As for the market rally in the afternoon…

"The increase in volume and turnover rate should be due to bottom-fishing funds believing that the heavyweight stocks outside have been sold off to create a golden opportunity."

"Large orders dominated the buying activity, but the KDJ indicator's KD line formed a death cross at the close, indicating a capital outflow at the end of the day. However, the trading volume in the closing auction was not high..."

After studying the market indicators for ten minutes, Zhang Yang opened Eastmoney.com, which remains the most active platform for stock investors.

Stock trading requires more than just technical analysis; it also requires considering market sentiment.

As the saying goes, emotions reign supreme. Once emotions are in place, all indicators become meaningless, and capital will speak for the investors.

Zhang Yang first checked social media to understand the public opinion surrounding China Construction.

"The largest fundraising in nearly two years: Huaguo Construction raised 501.6 billion yuan on its first day of listing, with a first-day increase of 110.35%, doubling its value upon subscription!"

Huaguo Construction's first-day transaction volume exceeded 300 billion yuan, with a turnover rate approaching 70%. Can the upward trend continue tomorrow?

Breaking News! Huaguo Construction Accused of Fraudulent Advertising? Market sources claim that in the first half of 2009, Huaguo Construction's gross profit margin was less than 8%, far lower than the 12.2% disclosed in its prospectus. Is its future in jeopardy?

"I can't believe you've already written a short essay so quickly."

Zhang Yang clicked to take a look.

The short essays about A-shares are a mix of truth and falsehood, making them extremely deceptive.

However, it cannot be denied that many of these short essays have been proven true. They are like unofficial histories, where inconsistencies in official history may be explained by finding plausible answers in unofficial histories.

The basis for this short essay is that Huaguo Construction's basic urban construction business has slowed down, while the proportion of real estate business has increased. The netizen who posted the news believes that Huaguo Construction's gross profit margin will not exceed 8%. This data is derived by comparing the data from the first quarter of 2009 and the first quarter of 2008.

"If there are any doubts, that's fine."

Zhang Yang breathed a slight sigh of relief.

Short essays are like time bombs; the most dangerous part is often insider information, while questioning has a limited impact.

In the comments section below, the investors' remarks have corroborated Zhang Yang's inference.

[浪里个嘷]: As we all know, policy transmission takes time. The "4 trillion yuan investment plan" was not officially finalized until November 2008. The projects were not fully implemented in the first quarter of 2009. At least we should look at the second quarter report, right?

[Nightfall]: The institutions are so eager to short the market, they must be making a profit. I'll buy 50 lots tomorrow and see what happens.

[Monk uses Pantene to wash his hair]: If there is any risk in China Construction, it can only be that the price-to-earnings ratio is too high. However, as General Manager Gao said, in order to achieve equal emphasis on construction and real estate businesses, and to distribute 30% of the profits as dividends every year, the current price-to-earnings ratio is not of reference value.

"I'm in a good mood."

After reviewing the entire process, Zhang Yang offered his own answer.

With a positive market sentiment and funds locked in, Zhang Yang doesn't think Huaguo Construction will experience a sell-off at the opening of the A-share market tomorrow.

Of course.

Nobody can predict the stock market.

It was precisely because of the risks that he instructed Liao Guopei and Lin Guangchang to reduce their holdings.

Even if they encounter a sell-off in the A-share market after reducing their holdings by half, they won't lose too much profit because they have already recovered their initial investment.

……

After assessing the risks of China Construction, Zhang Yang stopped interfering and instead checked the overall sentiment and news in the A-share market.

Although Zhang Zetian helped gather market information, she was, after all, just a high school student working a summer job and lacked experience. Zhang Yang couldn't completely trust the market information she gathered.

4 pm.

5 pm.

6 pm.

Time flew by, and employees gradually handed over their shifts and went home.

Zhang Yang stretched and rubbed his sore eyes.

(I believe in who I am, and I believe in tomorrow.)

(I believe youth has no horizon)
Just then, Zhang Yang's Nokia, which was placed on his desk, suddenly rang.

He picked it up casually and checked the number's notes.

"Jiang Haoran of Alibaba".

Zhang Yang pressed the answer button and smiled, "Hello, Manager Jiang, is there some good news calling so close to the end of the workday?"

"Mr. Zhang is truly a visionary; nothing can be kept from you." Jiang Haoran first praised him, then got down to business: "The traffic entry point for Taobao has been opened, and it will officially launch at midnight tonight. I called to tell Mr. Zhang that we need to prepare for server expansion."

"That's no problem. We at Caiyan.com have been continuously increasing our server capacity."

Zhang Yang responded with a smile.

After the gray-scale testing, the number of servers on Caiyan.com expanded from 2 main servers and 1 backup server to the current 50 main servers and 10 backup servers.

Currently, the number of servers is far from sufficient, considering that Caiyan.com receives millions of visits per day.

Upon hearing this, Jiang Haoran didn't say anything more, but instead asked, "By the way, the marketing department asked me to inquire whether the return traffic ads for Caiyan.com are ready."

Taobao drives traffic to Caiyan.com, and Caiyan.com then directs high-net-worth users back to Taobao, thus creating a closed loop of traffic.

Ma Yun agreed to Zhang Yang's request not only because of the "betting agreement," but also because of the return-to-investment plan.

Taobao's consumer platform requires customers with purchasing power.

Those who have spare money to invest in the stock market are generally from families that are at least middle-class or well-off.

If you're from a poor family, who would put your money in the stock market? Even if you wanted to change your fate, you'd most likely choose a casino like the one in Australia.

Caiyan.com needs traffic from Taobao, while Taobao needs Caiyan.com to drive traffic back to it, creating a duopoly between the two.

"It should be in the next day or two."

Zhang Yang didn't pay much attention to the advertising.

He delegated the responsibility for both the return advertising and Taobao's return advertising window to his subordinates.

"Alright, then I won't bother you any longer, Mr. Zhang. I'll give you my regards on behalf of Mr. Ma."

"There's no question of disturbing you. I wish us a pleasant collaboration, haha."

"Pleasant to work with."

After a few brief pleasantries, the call ended.

Without hesitation, Zhang Yang first clicked to save the file, then removed the USB drive and kept it safe. He then called Hong Daqiang, the head of the operations and maintenance department.

"Dududu-"

After a busy signal of about ten seconds, the call was connected.

"Hello, Mr. Zhang."

"Are you off work, Daqiang?"

"I just drove the car out of the parking lot. Does Mr. Zhang have any new instructions?"

"The Taobao traffic portal will be connected tonight. You need to decide how many servers to add to ensure the website runs smoothly."

"Hiss, so suddenly?"

"It's a bit sudden, but we have time to prepare. The number of users accessing the site in the early morning won't be too high. You can make all the arrangements."

"Alright, Mr. Zhang, with Taobao as a major website driving traffic, I suggest we increase the number of servers to 200 to ensure a good user experience."

"You can take care of it."

Now that Caiyan.com has reached a certain scale, Zhang Yang only needs to focus on the results, while other employees can handle the process.

He wasn't an expert on servers, but he had heard Hong Daqiang say that an HP ProLiant DL380 could handle 170 dynamic requests per second, and that server utilization could be improved through caching, CDN, and architecture optimization.

Currently, Caiyan.com's servers can handle peak hours smoothly.

After hanging up with Hong Daqiang, he called the marketing department, specifically Li Wei, the department head in charge of advertising production.

Perhaps because he hadn't finished get off work yet, he answered the phone in just five or six seconds.

"Hello, Mr. Zhang."

"How are the progress of the return-to-market advertising and Tianhong Fund's advertising?"

"The return promotion page is coming soon. The first and second versions were a bit rough, so I had the outsourcing team redo it. The Tianhong Fund advertisement is expected to take another five working days. Mr. Zhang, do you think we should urge them?"

Advertising production requires illustrators and graphic designers, but Caiyan.com currently does not have such a department, so it outsources the production.

Upon hearing that they needed to "strive for perfection," Zhang Yang said, "There's no need to be too picky, as long as it meets the requirements."

The advertising page doesn't need to be too fancy; just highlight the key text, like the promotional keywords provided by Taobao...

[Buy clothes on Taobao and enjoy discounts!]
In just nine words, the message is basically conveyed. Those who need to buy clothes will naturally click on it, while those who don't will not be very effective no matter how fancy the advertisement is.

Li Wei also understood the implied meaning and quickly said, "Okay, Mr. Zhang, we will definitely speed up the project's implementation."

"We can't be too hasty and lose quality," Zhang Yang added indirectly.

"understandable."

After exchanging a few simple pleasantries, Zhang Yang hung up the phone.

……

Since it was already past closing time, Zhang Yang didn't stay at the company any longer. Instead, he went straight to the underground parking lot of Block A in Changtai Plaza and drove to the nearest chain fresh food supermarket.

The sunset at dusk was beautiful, and the wispy clouds were edged with a bright glow, like a melting kumquat candy.

After parking the car, Zhang Yang went into the fresh food supermarket and grabbed a shopping cart.

Because Huaxia Fund's Shanghai branch is located on Binjiang Avenue, a 20-minute drive from Zhangjiang Talent Apartment, and considering the evening rush hour traffic, He Jing wouldn't get home until at least 7 p.m.

Since she was coming home late, Zhang Yang naturally couldn't wait for her to come back and cook, especially since Zhang Yang himself could cook.

"I've been eating Chinese food lately, and I still have a bottle of red wine at home, so let's make Western food tonight."

Zhang Yang pushed his shopping cart to the boxed steak section.

在普遍1500到2000元工资的2009年，沪都普通500克牛排的价格已经要35元。

As Zhang Yang picked up a box and examined its quality, an uncertain voice came from behind him: "Is that Zhang Yang from Caiyan.com?"

Upon hearing someone call his name, Zhang Yang glanced sideways. The person was a middle-aged man with a refined appearance and half-rimmed glasses. Judging from his complexion, demeanor, and the Rolex on his wrist, he was probably a leader sitting in the office.

"Hello."

Zhang Yang responded politely.

"This is my business card. My name is Yang Delong, an analyst and economist at Southern Asset Management."

"Or is he a fellow professional?"

Zhang Yang took the business card and glanced at him again.

"I'd say we're half colleagues, after all, Mr. Zhang, you're the CEO of Caiyan.com, and I'm just an employee," Yang Delong said modestly.

Zhang Yang already had an impression of the other party when they introduced themselves.

If he remembers correctly, this Yang Delong is the economist who, at the age of 18, was admitted to the Department of Mechanical Engineering at Tsinghua University as the top science student in the city, and later switched majors to study for a master's degree in finance at Yenching University's Guanghua School of Management.

Perhaps due to his engineering background, after graduating and joining Southern Asset Management, he became an automotive industry researcher, then transitioned to a macro strategy researcher, and gradually rose to become a chief strategy analyst and fund manager.

Yang Delong can be said to represent the highest level of analysts at Southern Asset Management.

After learning who the other person was, Zhang Yang glanced at his shopping cart and chatted casually, "It's the same after get off work, do you live nearby?"

"I bought an apartment here before the housing prices went up, and I never expected to meet Mr. Zhang."

Before Zhang Yang could speak, Yang Delong continued, "Perhaps Mr. Zhang doesn't know me, but I've read all your views. And like you, I was bearish back in June, convinced that a liquidity crisis was inevitable. And sure enough, it's happened, haha."

"Didn't we have a thunderstorm this afternoon? The thunder shouldn't have exploded yet, right?" Zhang Yang asked tentatively with a smile.

"Half of it has exploded; it's only a matter of time before it explodes completely."

Yang Delong was quite certain, and then he invited, "Since it's such a coincidence that we met Mr. Zhang here, why don't we go to my house and discuss the future trend of A-shares together?" "I have some things to do tonight, and I'm afraid I won't be able to find the time," Zhang Yang politely declined.

He wasn't familiar with Yang Delong; it was their first meeting, and going to his house without permission was not a wise choice.

Seemingly realizing that he had been a bit abrupt, Yang Delong quickly added, "Don't worry, I didn't mean anything by it. I just wanted to talk to you about the economic situation in the second half of the year. The Growth Enterprise Market is coming soon, and I wanted to hear your opinion. That's all."

"My opinion remains the same: the fundamental problem of liquidity has not been solved."

Zhang Yang responded calmly.

In the first half of 2009, in addition to Huaguo Construction's 500 billion yuan mega-project, many other companies chose to raise additional funds through public offerings, with the amount reaching tens of billions of yuan.

It can be said that the A-share market has become a lifeline for listed companies, and this situation will continue at least until the second half of the year, or even next year.

"So, you're saying you're not optimistic about A-shares in the next few months?"

Yang Delong pressed for more details.

"More or less correct," Zhang Yang nodded in response.

"So, how do you think the liquidity crisis can be fundamentally resolved?"

After posing the question, Zhang Yang thought for a moment and then shared his views: "Raise the IPO threshold, strictly control the review of private placements by listed companies, and launch margin trading and securities lending services."

"I think so."

Yang Delong smiled slightly, then glanced at the time and said, "Since Mr. Zhang has other matters to attend to, I won't disturb you any longer."

"However," he suddenly changed the subject, "this Saturday and Sunday, there will be a 'Capital Market Exchange Forum' in Lujiazui. My teachers Li Yining and Cao Fengqi, as well as I, will be attending the sub-venue. If you have time, Mr. Zhang, you can come and listen. We can also exchange ideas with each other."

"Let me check the schedule."

"Row."

Zhang Yang didn't rush to agree; plans can't keep up with changes.

The two chatted for a few more minutes, and after shopping, they left the fresh food supermarket one after the other.

……

And on the other side.

China Asset Management Co., Ltd., Shanghai Branch.

Due to the sharp drop in A-shares, all fund managers were kept on duty for an emergency meeting to discuss future strategies.

Every sharp drop in A-shares is a test for mutual funds.

As the saying goes, troubled times produce heroes. The crash of 2007 made star managers like Wang Yawei, Wang Hongyuan, and Shao Jian, who naturally became the face of their respective funds.

Wang Yawei, the top star, was speaking passionately: "I said during the department team building a few days ago that the national funds were used to make dumplings for two months for a dish of vinegar. Now that the vinegar has been served, the price has naturally plummeted."

"There's also the issue of credit funds. I don't think a 5% drop will squeeze them out. Anyway, everyone should be cautious."

"Oh, right."

Suddenly, he looked at Sun Jiandong next to him and teased, "Jiandong, didn't you say last time that the A-share market would continue to rise in August and return to 6000 points? Are you not fully invested today?"

"..."

Sun Jiandong hesitated, as if he wanted to say something but then stopped.

He truly didn't expect that the A-share market's liquidity, which Guilin Sanjin, Wanma Cable, and You'an Shares couldn't break, would actually be defeated by Huaguo Construction.

Accident?
A little bit, but not much.

In response to Wang Yawei's sarcasm, Sun Jiandong retorted: "The national team clearly intervened to support the market this afternoon. Even if today is a turning point for A-shares, it won't immediately plummet. There's a high probability of a double-top trend, and there's time to exit with profits."

This statement seems harmless at first glance, but it actually subtly criticizes Wang Yawei for missing out on potential opportunities.

He reduced his holdings in June and July, and has already reached the minimum holding level.

All the fund managers present could see the discord between the two. Lin Weiguo coughed twice to stop them, saying, "Alright, let's not talk about the past. Our meeting is to discuss the strategic layout for August."

"The direction for August is a bit uncertain; we haven't seen any new main themes yet."

A fund manager responded.

"Yes, currently there are indeed increased incentives for whole vehicles, but these are mainly targeted at rural areas."

"Weren't they talking about new energy vehicles a while ago? And now that oil prices have been lowered, is it possible that they're making way for them?"

"New energy vehicles are just a concept. My research team went to BYD and they all said that the technology is not mature and the supporting facilities are not good."

What about a low-carbon economy?

"That does have some potential."

The fund managers chatted amongst themselves, occasionally revealing industry secrets. He Jing silently took notes while sending a message to Zhang Yang, telling him not to wait for her to eat.

They only announced the meeting close to the end of the workday; who knows how long it will last?

6 points.

6 points.

6 points.

Time passes bit by bit.

Sitting on the edge, Tao Yuang also understood that there was no main storyline in August, and the risks outweighed the opportunities.

Wang Yawei is firmly bearish, while Sun Jiandong is betting on a double-top trend, also bearish on future market movements.

After listening to the main fund managers' views on future investments, Lin Weiguo summarized: "In other words, there is no new main theme for August. The new energy vehicle concept lacks market support, so we can only explore the low-carbon direction. In addition, everyone needs to pay special attention to the short-term risks in the market."

“Especially Yu'ang, your fund is down quite a bit today, you should be careful.”

When called out again, Tao Yuang quickly replied, "I will be more careful."

"Okay, let's adjourn the meeting."

Lin Weiguo scanned the entire room.

Upon hearing that the meeting was adjourned, all the fund managers stood up and left the meeting room.

Tao Yuang jogged up to He Jing and asked in a low voice, "Junior Sister He, when is Zhang Yang going to start his medical plans? I can't hold on much longer."

When he said he couldn't hold on, he wasn't referring to financial strain, but rather physical strain.

Ou Guiyan's invitation to his office caused him immense distress; if it weren't for a sliver of hope, he would have resigned.

"I'll go back and ask."

He Jing's suggestion to "go back and ask" surprised Tao Yuang for a moment, but he quickly recovered and nodded, saying, "Please."

Before Tao Yuang could leave, Wang Yawei, the top executive at China Asset Management, strode forward and said with a smile, "Manager He, do you have time? It's so late, how about we go have dinner together? This place is new..."

"I'm in a hurry to get home, sorry." He Jing refused without even thinking.

Offering unsolicited favors is either a sign of malice or theft; even a three-year-old knows this.

Seeing the refusal so decisively, Wang Yawei paused for half a second, but quickly caught up and said, "Let's talk about the plan for August. There were too many people earlier, so I didn't mention it, but actually, there has been a hidden main storyline in the last six months."

"Oh, what is it?"

He Jing glanced at the other person sideways.

Wang Yawei smiled calmly and hinted, "Let's talk in detail at a restaurant. We're all adults; it won't hurt us."

"Cough cough."

At this moment, Tao Yuang stepped forward and looked at Wang Yawei, saying, "Brother Yawei, Manager He does have..."

"What's it to you?"

Before Tao Yuang could finish speaking, Wang Yawei interrupted him and glared at him.

Faced with such a suggestion, a fund manager without resources might follow suit, since resource exchange is commonplace in the financial industry.

However, He Jing just smiled faintly and said frankly, "I have people waiting for me at home, so I won't keep you company. As for the hidden main plot, I'm not very interested, since my main focus is on the real estate sector."

"..."

Wang Yawei stopped in his tracks.

He was completely stunned.

He never expected that his trump card would fail him.

You should know that in the past, when new employees came to China Asset Management, as long as he took a liking to them, he could take them out to play within two or three days.

Why is it so easy?
Financial insider information.

Putting aside the fact that women are attracted to strength, just based on inside information, if Wang Yawei were willing, even a male manager could make him obediently submit.

A single piece of financial insider information can earn anywhere from hundreds of thousands to millions of dollars, but very few fund managers can uphold ethical standards.

Watching He Jing leave quickly, Wang Yawei, regaining his senses, caught up with Tao Yuang and asked, "Is her boyfriend very powerful?"

He Jing mentioned at the last dinner that her boyfriend was not in the entertainment industry, which Wang Yawei dismissed, but now he seems a little interested.

Since Zhang Yang had something on him, Tao Yuang naturally couldn't reveal the truth, so he dodged the question by saying, "Probably, but I've never seen what the other person looks like."

"should?"

Wang Yawei had some doubts.

“Manager He and I are alumni, but I’ve never been to her house. If I had to guess, he’s probably someone working in the government or a business owner. Otherwise, why would he reject you, Manager Wang?” Tao Yuang said, mixing truth with falsehood, leaving Wang Yawei to guess He Jing’s boyfriend’s identity himself.

"It makes sense."

Wang Yawei nodded slightly.

However, in the financial field, one can only hold onto their bottom line temporarily. He didn't believe He Jing could hold onto it for a year or two. After all, a man as outstanding as him, who was also the top executive at Huaxia Fund, had insider information and a large amount of capital that were among the best in the industry. Poaching someone from another company wouldn't be an easy thing for him.
Thinking of this, he looked at Tao Yuang and said, "You and He Jing are alumni, so keep an eye out for me. You'll get your share of the benefits."

"Okay, Manager Wang."

Tao Yuang verbally agreed, but inwardly he thought, "You want me to keep an eye out for you? Keep an eye out for you my ass! Do you think I can afford to mess with Zhang Yang?"

Putting aside the fact that Zhang Yang has something on him, just considering the notorious reputation of Fuchun Road, anyone who comes here will tremble in fear, and he can only try to smooth things over.

However, it's hard for Tao Yuang to say whether Zhang Yang or Wang Yawei is more outstanding.

One of them is the CEO of Caiyan.com on the surface, but behind the scenes he is Fuchun Road, who stirs up the A-share speculative capital circle and is hated by speculative capital and retail investors.

One is the top fund manager at China Asset Management, a benchmark for public funds, which maintains close cooperative relationships with a large number of listed companies.

If Tao Yuang had to choose, he felt Zhang Yang had more potential, after all, that man was a terrifying figure who achieved a million-dollar return in the A-share market in just three or four months.

……

Zhangjiang Talent Apartment.

He Jing pushed open the door and looked at Zhang Yang on the living room sofa, saying, "I'm back."

At that moment, Zhang Yang was typing on his notebook, taking notes on the content of the "News Broadcast".

Hearing that He Jing had returned, he glanced at her and said, "We're having Western food tonight. I'll cook, but I'll have to wait a bit while I write down the ingredients."

After receiving He Jing's text message, Zhang Yang did not eat alone, but continued to organize market documents and review today's A-shares.

He Jing had just changed out of her work shoes when she heard that Zhang Yang hadn't eaten yet, so she immediately said, "I also know a little about how to cook Western food."

"You go take a shower first."

Zhang Yang politely declined.

As a cooking enthusiast, he is still quite picky.

"You just got back, rest for a bit first, let me see what you wrote down."

He Jing casually took off her suit jacket, revealing a full white shirt underneath.

"The news broadcast, as well as some market rumors and confirmed information from today," Zhang Yang told truthfully.

Almost every day, he would record and extract the core content.

"Isn't everything on CCTV's 'News Broadcast' public information? Isn't it a bit unreliable to use that to trade stocks?"

He Jing was puzzled.

The stock market is a game market, mainly divided into capital games and information games.

Publicly available information like CCTV's "News Broadcast" shouldn't be of much value, right? After all, it doesn't constitute an information game.

Seemingly sensing He Jing's confusion, Zhang Yang smiled faintly and said, "The simplest truths are the most profound. The news broadcast is a definitive statement on the general direction, just like the 4 trillion yuan investment plan that was released in November 2008, which stated that the country would focus on developing ten key industries. It tells everyone which ten industries to develop, but stock market investors are still like headless flies."

Relying solely on information to trade stocks won't work, but without considering news, you won't even know the direction of the market.

As Zhang Yang said, the government gave a clear direction for the ten major industries of automobiles, steel, textiles, equipment manufacturing, shipbuilding, electronics and information, light industry, petrochemicals, non-ferrous metals and logistics from the beginning, but stock investors still did not know how to copy the answer.

“That makes sense.” He Jing nodded slightly, seemingly lost in thought, and said, “Both public information and insider information are reference indicators for investors.”

"It can be understood as an indicator."

Zhang Yang nodded.

Have you started building positions in your fund?

he asked casually.

"It's a stock market crash today, so we should wait a bit before building positions. By avoiding the decline, our returns will be higher than similar funds, which will attract more investors to subscribe," He Jing said, sharing her thoughts.

"By the way, at today's meeting, Wang Yawei, Sun Jiandong and their group of fund managers were still bearish, so you should be careful with your investments."

"understood."

Zhang Yang nodded in response.

Gradually, the two stopped talking, and the only sound in the living room was the tapping of a keyboard.

He Jing, resting her chin on her hand, quietly watched Zhang Yang's profile. Sometimes, she really didn't know how this man knew so much about investing. It was as if he had been investing since birth; his speech and techniques were all top-notch.

(End of this chapter)