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

Chapter 180 Buffett's Slow Realization: Countering Malicious Competition from Peers
Nebraska, USA.

Omaha.

It's 13 hours behind Beijing here; while the Chinese people are asleep, this city is just beginning to come alive.

"Jingle Bell--"

The annoying alarm clock rang.

Hugging a large plush toy, Xu Zhiruo, who was sleeping in only a blue striped bra, exposing large expanses of her snow-white skin, turned over and instinctively turned off the alarm clock on her bedside table.

Her breathing was even, and the sunlight that gradually illuminated the entire room failed to wake her.

Until the second one...

third…

The fourth alarm clock rang.

Xu Zhiruo finally sat up in bed. After resting for a while, she dragged her groggy head to the bathroom to wash up.

She had thought learning hedging strategies would be tiring, but she hadn't imagined it would be this tiring.

Because of the T+0 trading system in the US stock market, her previous understanding of the stock market was completely overturned, and she had to rebuild a strategy for the T+0 market.

In a T+0 market, hedging strategies can respond to market fluctuations in real time because positions bought on the same day can be sold on the same day.

It also supports high-frequency hedging strategies, such as market maker hedging and intraday volatility hedging. It can adjust long and short positions based on real-time order flow, and repeatedly open and close positions to hedge by observing short-term price fluctuations. The strategy frequency can reach the minute level or even the second level, relying on the ability to quickly enter and exit the market.

What about the T+1 market?
Positions bought on the same day can only be sold the next day, resulting in "limited intraday hedging adjustments" and a lower strategy frequency, which is more inclined towards "medium- to long-term hedging" or "event-driven hedging".

To put it bluntly, the hedging strategy in the T+0 market is calculated in seconds, while the point hedging strategy in the T+0 market is calculated in days. The latter is more like a long-term insurance measure to avoid the market downturn.

Overturning the perception of the T+1 market and rebuilding the perception of the T+0 market—this is what Xu Zhiruo has recently experienced.

After washing up, Xu Zhiruo went to the villa's open kitchen and opened the refrigerator.

"Snapped--"

She slammed the door shut again, wailing, "I need food! I don't want bread and jam! Those damned foreigners! They've stolen so much from us, why didn't they at least steal a couple of cookbooks?! (‵□′)"

If we were in China, let's not even talk about the three-piece set of steamed buns, fried dough sticks, and soy milk. Just consider pan-fried buns, spicy soup, wontons, rice noodle rolls, glutinous rice chicken, and jianbing guozi. Aren't they all fragrant and appetizing breakfast options?

But what about the United States?

Fried egg and sausage waffles, cereal bagel sandwiches—if you set up a stall like this in China, it would go out of business in half a month.

Xu Zhiruo finally understood why international students all had some cooking skills, and realized that she really needed food.

The most outrageous thing is that there is a chance that you can buy "tainted pork" in the United States.

Last night, Xu Zhiruo originally wanted to try cooking herself, making the simplest stir-fried pork with chili peppers. Unexpectedly, she bought a hidden gem of pork, which tasted like a pigsty that had been exposed to the summer sun. The smell went straight to the top of her head.

I only found out after searching online that some pig farms in the United States do not castrate pigs and do not bleed them when slaughtering them, which results in the pork having a fishy smell.

After a whole night of fussing, Xu Zhiruo threw away the pot and pork and rushed to the nearest McDonald's to solve her hunger problem.

Despite her complaints, Xu Zhiruo still had to eat, so instead of cooking for herself, she went to McDonald's again.

……

And on the other side.

Berkshire Hathaway.

Hedge strategy guru Todd Combs is manually grinding coffee beans. He is dressed casually, with a loose suit and oversized trousers, exuding a relaxed vibe.

Is it really loose?
Actually it is not.

Todd Combs is only relaxed in his personal life; when it comes to investing, he is notoriously strict and has perfectionist tendencies.

What is perfectionism?

We should strive for perfection in everything!

That's why he's very demanding of himself and others; he can't tolerate even a single decimal error in the data files he submits.

Perhaps it is this seriousness about investing that makes Todd Combs the top candidate handpicked by Buffett to succeed him.

Once the coffee beans are ground into powder, he skillfully wets the filter cup with 92-degree water, then adds the coffee powder, gently shaking the filter cup to even out the powder surface, thus preventing the water from pooling.

In the first stage, inject water at a volume approximately three times the amount of powder, with the water flowing in a spiral from the center outwards to ensure all powder is wetted.

After adding water, you need to wait half a minute to a minute. At this time, the powder will rise, which is commonly known as "venting".

Just as Todd Combs was enjoying the hand-grinding process, Warren Buffett, wearing a red tie and a loose white shirt, walked into the office and jokingly said, "Barista, a coffee please."

Todd Combs looked up and glanced sideways. When he saw it was Buffett, he smiled and said, "Handmade coffee is closer to the original flavor of coffee. I suggest you drink Coca-Cola."

Buffett: "Just add sugar."

"Adding sugar is an insult to coffee," Todd Combs declared righteously.

"There are quite a few rules; it's really hard to get a cup of coffee from you," Buffett complained, then asked, "How's the trading talent of that Chinese girl who came to your department a few days ago?"

"good."

While brewing coffee, Todd Combs recalled Xu Zhiruo's trading operations and said, "Her trading system is built around the T+1 market, which needs time to change. Today, I plan to have her learn the Fibonacci sequence."

He looked at the documents on the table, which were Todd Combs' data compilation over the past year. He wanted to transform Xu Zhiruo from an investor into a mathematically savvy investor.

How important is mathematics?

It forms the foundation of other disciplines.

Mathematics is everywhere, like the cornerstone of the world. Human technological development is inseparable from mathematics.

Even metaphysics, such as the Plum Blossom Divination, is still a mathematical calculation, but it obtains a result through the recalculation of random and fixed numbers.

At this point, some people might ask, what is the Fibonacci sequence?

The Fibonacci sequence is a classic recursive sequence in mathematics, named after the Italian mathematician Leonardo Fibonacci who first proposed it in the 13th century. Its definition is simple yet contains rich mathematical laws and natural beauty.

In stock market technical analysis, the Fibonacci sequence is also used. Its core is the derived golden ratio relationship, such as 0.618, 0.382, 1.618, etc. These ratios are believed to reflect the "natural pullback" or "trend continuation" of market prices.

Essentially, it involves using key historical price fluctuations, combined with Fibonacci ratios, to predict potential future support levels, resistance levels, or trend reversals.

Fibonacci retracements, Fibonacci extensions, and Fibonacci time cycles are all technical indicators used to predict future stock market trends.

Whether it's Fibonacci retracement, Fibonacci extension, or Fibonacci time cycles, they all involve a lot of calculations, and there are no shortcuts.

Because the Fibonacci sequence can be applied to the stock market, it has gradually become an essential skill for left-side traders.

When he heard that Todd Combs wanted Xu Zhiruo to learn the Fibonacci sequence, Buffett said with a hint of schadenfreude, "It seems that after this period of time, Berkshire Hathaway will produce a female mathematician, haha."

Although Todd Combs' assessment of Xu Zhiruo was "okay," this "okay" is an assessment that many Wall Street elites have failed to achieve.

In an era dominated by quantitative trading and the popularity of one-sided betting, very few people wanted to learn hedging strategies, so much so that Todd Combs did not intend to retain them.

"It is indeed here."

Before Buffett could speak, a deep voice came from behind him—it was Buffett's investment partner, Charlie Munger.

"Charlie is looking for me?"

Buffett understood the underlying meaning.

"Good morning, Mr. Charlie. Would you like a cup of coffee?" Todd Combs offered.

Warren Buffett likes Coca-Cola and sweet carbonated drinks, so he definitely wouldn't be used to hand-ground coffee. But Charlie Munger is different; he's a sophisticated old man.

“Thank you, but I need to speak with Mr. Buffett about something,” Charlie Munger declined.

"Find me?"

"Go back to your office and tell me."

"So mysterious?"

“I’m afraid you won’t be able to hold it in if I say this here.”

The two of them walked and talked.

As soon as Buffett and Charlie Munger left, Xu Zhiruo, feeling like a typical office worker, returned to her trading desk with her packed McDonald's breakfast. Before she could even take a bite, Todd Combs, who was sitting in his office drinking coffee, spotted her through the glass.

Then, he took the data file and came to Xu Zhiruo and said, "Fibonacci retracement, Fibonacci extension, Fibonacci time cycle. Master these in three days, and then use them to analyze the current US stock market. I need to see your analysis report within five days."

"..."

Xu Zhiruo looked up at Todd Combs, her gaze sharp, cold-blooded, and ruthless, like a knife.

"Those despicable foreign devils!"

"You're treating your aunt like a slave!"

"damned!"

Xu Zhiruo cursed inwardly, but on the surface she still smiled and said, "I'll try my best."

"It's not 'try your best,' you only have five days, and you can't go over the time limit," Todd Combs said coldly, issuing a firm order.

"I will definitely complete the mission!"

Xu Zhiruo assured her.

Seeing that the other party was so enlightened, Todd Combs left satisfied.

Watching Todd Combs' departing figure, Xu Zhiruo muttered to herself, "You foreign devil, just you wait! Fortune changes every thirty years, don't underestimate this beautiful young lady's poverty!"

……

Warren Buffett's office.

When Charlie Munger and Warren Buffett arrived at the office, the former got straight to the point, saying, "You've been tricked by the Chinese again."

"???"

Buffett looked completely bewildered.

again?
How could it be again?
Doesn't he want to save face?
Seemingly knowing that Buffett didn't believe him, Charlie Munger directly presented evidence.

He inserted the USB drive into the computer, opened the file, and found it contained screenshots of translated news headlines.

"Caiyan.com, a professional financial website used by Buffett! Mom, I want to learn stock trading on Caiyan.com!"

The Secrets Buffett Can't Tell You! You might be just one financial website away from becoming a stock market guru. Visit Caiyan.com, master the A-shares market, and you could be the new stock market god!

Want to invest? Visit Caiyan.com! Want to stay informed about market trends? Visit Caiyan.com! Want to access global news with a single click? Visit Caiyan.com! Caiyan.com, a website even Buffett recommends!

"..."

Buffett fell completely silent.

I was wondering why his dinner with Zhang Yang was used to promote a website?

good good!
Play like this, right?
"and this."

Charlie Munger switches images.

The picture is a photo of Zhang Yang and Warren Buffett, with the caption "Congratulations to Warren Buffett for reaching a strategic partnership with Caiyan.com and becoming its global brand ambassador!" added next to it.
“Am I right? He’s using you as a data package, my Mr. Buffett!” Charlie Munger emphasized.

Buffett: “…”

silence.

He remained silent.

Did Zhang Yang violate any rules?

He didn't break any rules, and he didn't say a single stock recommendation during the charity lunch. But who would have thought that this guy wasn't there to recommend stocks, but to recommend a website!

After a few seconds of silence, Buffett asked, "His website should be legitimate, right?"

This kind of unofficial propaganda, which lacks a clear definition, is extremely difficult to investigate, and it also involves cross-border issues, making it difficult to pursue legal action.

If Caiyan.com were a legitimate website, Buffett would have turned a blind eye.

But if it's an unreliable website, such as one with links to gambling or pornography, then he'll have to talk about it and confront Zhang Yang head-on.

"It's a legitimate financial website. We also found out about Zhang Yang's family background. His parents are ordinary people, one drives a taxi and the other runs a small shop. But I think this background information might be fake."

Charlie Munger shared his opinion.

Is it possible for an ordinary family to spend $320 million to have dinner with Warren Buffett?
At just over 20 years old, without family support, having 2 yuan in your pocket is already quite good, let alone 320 million US dollars.

"It must be fake. Keep investigating. I want to know who Zhang Yang really is."

Buffett gestured.

"What about the malicious advertising?" Charlie Munger asked.

“It’s too difficult to investigate. He can easily use ignorance as an excuse. Let him be,” Buffett said with a hint of helplessness.

This kind of undefinable official propaganda makes it too difficult to hold anyone accountable. Take Jordan and the Chinese Jordan for example; Jordan is still in the evidence-gathering stage for such blatant plagiarism.

Since there was no other way, Buffett could only treat the $320 million as an endorsement fee and swallow his bitterness.

……

Shanghai, the capital of China.

Midnight.

After a brief maintenance and update on Taobao, the word "Finance" appeared below the search bar on the homepage, highlighted in red.

Since the internet in 2009 was mainly PC-based, there weren't many people staying up late to shop, but that didn't hinder the effectiveness of attracting traffic.

"The page views are coming in!"

Someone in the marketing department of Caiyan.com shouted.

"1000 new visits".

"Registration numbers are increasing."

"100."

"200 now."

"300, and it's still going up!"

In the open office area of ​​the marketing department, the employees were in high spirits. The financial research website has now reached 41 registered users, and there are only 9 registered users left before the performance bonus and year-end bonus.

Based on the usual practice of incentives, after reaching 50 registered users, Zhang Yang might set a target of 100 million registered users, at which point the reward might double.

Marketing manager Dai Shuhan was not required to work the early morning shift, but because tonight was so important, he voluntarily came to the company to witness this traffic extravaganza with the marketing staff.

Upon seeing the surge in traffic, he said in a deep voice, "If this trend continues, breaking one million registrations by the end of the year is not a dream!"

Just then, someone suddenly voiced a dissenting opinion: "Oh no! Eastmoney has launched an investment season promotion. The monthly membership price is 98 yuan, and they've added pre-market and intraday alerts, as well as a membership channel!"

"Just launched?"

Dai Shuhan glanced sideways at the employee.

"They just launched, manager, they're going to start a price war with us."

As soon as the man finished speaking, the other employees in the marketing department looked at each other in bewilderment.

"Eastmoney is too malicious. They attacked our website last time, and now they're waging a price war. They're clearly using their market dominance to suppress our development!"

"Oh no, Tonghuashun is also having a discount." "So synchronized?"

"Is it possible that this was planned in advance?"

As the employees discussed the matter, Dai Shuhan couldn't help but lament the viciousness of the move.

Selling memberships at low prices can, to some extent, lock in users and prevent them from leaving.

It's a win-win situation: reducing user churn while attracting users from other websites.

"These guys don't even want to share a piece of the pie with us." Dai Shuhan finally understood what capital was.

This kind of malicious competition among peers would probably force other small internet companies to close down within a few months.

However, with Alibaba backing it, Caiyan.com might be able to compete.

Just as Dai Shuhan was gritting his teeth, the marketing managers of financial websites such as Sina Finance, NetEase Finance, and Tencent Finance were urgently recalled to their companies. This redistribution of the financial website market has entered a fierce stage.

It's worth mentioning that Tonghuashun originally wanted to poach talent with high salaries to cripple the basic operations of Caiyan.com, but after conducting a background check, they discovered that none of Caiyan.com's senior executives had resumes that were worth poaching with high salaries.

If we absolutely have to dig deeper, then we can only start with the financial editors.

In the past two days, Tonghuashun has also sent people to contact some financial analysts and editors at Caiyan.com. With double the salary, many employees are willing to switch jobs.

……

Time flies, and day and night alternate.

As the first rays of sunlight streamed in, Zhang Yang and He Jing groggily woke up. The room was a bit messy, with several wads of used tissues on the floor. They had no idea what had happened.

"Ha~"

He Jing yawned, turned over, and looked at Zhang Yang, saying, "Good morning."

"morning."

Zhang Yang replied.

Neither of them rushed to get up, but lay quietly in bed, savoring the tenderness.

At this moment, time seemed to stand still.

Until they heard a creaking sound from upstairs, the two exchanged ambiguous expressions and got up in tacit agreement. The talent apartment was great in every way, but it wasn't very soundproof. If it was late at night, they could hear the couple next door asking, "Is it okay?"

After washing up, He Jing tidied up the room, then went to the wardrobe, took out a white shirt and put it on. Next, she went to the dressing table, put on lipstick and said, "OK, I'm going back to the company now. See you tonight."

"See you tonight."

Zhang Yang was still shaving.

For young people in their early twenties, beards grow too fast; if they don't shave for a day, the roots will be showing.

He Jing then left the room, took the coat from the clothes rack by the door, changed into her work shoes, and left the apartment directly.

Unlike He Jing, who spends 30 to 40 minutes driving, Zhang Yang only needs less than 10 minutes to drive back to his company.

He shaved his beard, styled his hair in a side parting, and then leisurely put on his shirt and jacket before leaving his apartment.

The ten-minute drive passed in the blink of an eye.

Upon arriving at Changtai Plaza, Zhang Yang first ate at a nearby breakfast shop before heading to his company.

When Zhang Yang returned to the company, the receptionist greeted him warmly as usual.

Good morning, Mr. Zhang.

"Wow, Mr. Zhang is so handsome! Good morning!"

"Good morning."

Zhang Yang responded politely. Instead of returning to his own office, he went to Dai Shuhan's office to find out about the Taobao traffic generation situation.

"咚咚-"

He knocked on the open doorframe.

Having stayed up all night, Dai Shuhan quickly stood up when Zhang Yang arrived and said, "President Zhang."

How's the traffic acquisition from Taobao going?

Zhang Yang got straight to the point.

"As of 8 a.m., Caiyan.com has reached 44 registered users, and the marketing department expects it to reach 50 today."

"but……"

Dai Shuhan seemed hesitant to speak.

"But what?"

Zhang Yang sensed that something was wrong.

"However, our competitors are up to something again. Eastmoney's monthly membership, which was originally priced at 149 yuan, has now been reduced to 98 yuan, which is 22 yuan cheaper than ours. Tonghuashun has also reduced its price, by an even larger margin, with a monthly membership now costing only 89 yuan. This not only helps them lock in users but also curbs our growth in paying users."

Dai Shuhan's words were full of worry.

Caiyan.com was the most promising internet company he had ever worked for. If all went well, it might become the next Eastmoney.com, so he focused his energy on Caiyan.com.

"A price war...?"

Zhang Yang murmured to himself, then replied, "I understand. Let's hold back for now, and I'll devise a counterattack strategy later."

Last time Caiyan.com was attacked, he didn't even settle accounts with his competitors. Now he wants to use a low-price strategy to curb Caiyan.com's development. This is simply intolerable and can no longer be tolerated!

After getting a general understanding of the website's operation, Zhang Yang returned to his office and then dialed Xu Zhirou's mobile phone number.

"Dududu-"

Not a moment.

The call was answered.

"What's the matter?"

"Have you arrived at the company yet?"

"I'm still having breakfast downstairs. If it's urgent, I'll come up now."

"Just tell her over the phone." Zhang Yang didn't force Xu Zhirou to come to him, since it wasn't yet time for work.

After he finished speaking, he said, "Later, contact a headhunting company and have them poach financial editors, market analysts, and visualization editors from Eastmoney and Tonghuashun at double the price. There's no need to hide the poaching; just be open about it with them."

"Playing it openly?"

Xu Zhirou was puzzled.

If Zhang Yang wanted to undermine the other party's editorial team by poaching their staff, shouldn't he have done it discreetly? What kind of business is it to be so open and aboveboard?

"That's right, we should play our cards right with them."

Zhang Yang nodded in confirmation.

Since the other party wants to use a low-price strategy to kill two birds with one stone, he can do the same.

If the news of high salaries is released, employees at Eastmoney and Tonghuashun will definitely be tempted. If these two competitors want to retain them, they can only increase wages and increase costs.

If Eastmoney and Tonghuashun choose not to mention salaries, Caiyan.com is capable of absorbing these experienced employees. However, if Eastmoney wants to find employees with relevant industry experience, it will take some time or require retraining.

to be honest.

Zhang Yang also disrupts the market.

It's not about disrupting the user market, but the employee market. It's about competing with peers in terms of endurance and seeing who has the last laugh.

……

Just as he finished arranging the counterattack, Zhang Zetian walked into the office with a cup of milk tea. As he placed it on the desk, he handed over a USB drive and said, "Brother Zhang Yang, here's yesterday's market data."

"Okay, I'll check it out later."

Zhang Yang responded.

Seeing that Zhang Yang seemed busy, Zhang Zetian did not stay long and returned to his office to continue organizing today's market data.

Besides opening up the traffic channels, there's another matter that needs to be decided by Zhang Yang.

That is, Yang Wei sent an email last night saying that Bing'er from the Red Alliance is interested in joining Caiyan.com, but the prerequisite is an annual salary of one million.

He had heard of Bing'er; she was the number two figure in the Red Alliance.

This sounds like a girl, but Bing'er is actually a boy. It is said that he was given this name because his girlfriend was named Bing'er.

If cybersecurity can be built around him, a million-dollar annual salary wouldn't be unreasonable.

However, given the network security of Caiyan.com, Zhang Yang decided to meet in person first to see if it was worth the price.

Thinking of this, he replied to Yang Wei via email, asking him to invite Bing'er to the company.

After dealing with various miscellaneous matters at the company, Zhang Yang finally had time to check the USB flash drive market information submitted by Zhang Zetian.

1. The target of shutting down small thermal power plants during the "Eleventh Five-Year Plan" period was achieved one and a half years ahead of schedule, with a cumulative shutdown capacity of over 1 million kilowatts, demonstrating significant achievements in energy conservation and emission reduction.

2. Data from the National Bureau of Statistics shows that the decline in corporate profits in my country has narrowed month by month, and fiscal revenue has shown signs of stabilization and recovery, indicating signs of economic recovery.

3. Construction has commenced on all projects along the central and eastern routes of the South-to-North Water Diversion Project, which pass through seven provinces and municipalities, marking the entry of this national strategic water conservancy project into a comprehensive construction phase.

4. The Ministry of Finance and the China Banking Regulatory Commission jointly released a plan proposing to basically achieve nationwide coverage of rural financial services within three years, with a focus on supporting the reform of rural credit cooperatives and the development of new rural financial institutions.

……

8. Home prices in major U.S. cities rose for the first time in nearly three years, indicating signs of a recovery in the housing market.

9. An anonymous person posted on Mop forum that "the China Banking Regulatory Commission has entered 16 banks to investigate the entry of credit funds into the market, involving a scale of more than 5000 billion yuan."

10. Jiangcheng Plastics experienced abnormal stock price fluctuations, and it was widely rumored in the market that a certain central enterprise was planning to go public through a backdoor listing.

There were more than 30 messages in total, which still included domestic, international and market rumors. Compared with the ones Zhang Yang collected himself, there was not much difference between the two, except that Zhang Yang's collection was more refined and concise.

"You did a really good job."

Zhang Yang read it carefully.

After collecting the news last night, he analyzed it one by one. The recent national actions can be mainly divided into two parts: one is to stimulate domestic demand and create jobs, and the other is to expand external demand and cater to foreign markets.

It is also worth mentioning that since the resumption of IPOs, many shell companies have been lowering their value, hoping to cash out and leave as soon as possible.

Previously, when IPOs were suspended, shell companies could demand exorbitant prices. However, with the successful listings of Guilin Sanjin, Wanma Cable, You'an Shares, and Huaguo Construction, shell resources are no longer scarce, and many listed companies want to save money by using shell companies.

Of course.

All news should be viewed dialectically.

The fact that shell companies are no longer scarce means that shell companies will lower their prices, and some new companies can successfully go public.

This is precisely why news of certain companies seeking backdoor listings has been frequently appearing recently.

……

At 9:00 AM, there were still 15 minutes until the A-share market opened.

After finishing his business at the company, Zhang Yang went to the finance conference room.

"What did the Joker say?"

"Should we launch a bid during the opening auction?"

As soon as Zhang Yang walked in, Liao Guopei and Lin Guangchang were already getting impatient.

The returns from this round of Huaguo Construction's IPO have doubled, which is equivalent to them achieving profits from controlling the market.

"Let's look at the opening auction first. The sentiment for China Construction is good."

Zhang Yang sat down in his seat.

To profit from stock trading, one must know oneself and one's enemy. This is why he insists on collecting information every day and deciphering the wealth secrets within.

When the news first appears, you may not realize its value immediately, but as the story unfolds day by day, you will find that the government has been consistently providing investment guidance.

"The sentiment is indeed good; it would be even more perfect if the A-shares market crashed."

Liao Guopei smiled.

When A-shares plummet, funds tend to flock to one another. Yesterday, when the two major indices corrected, funds poured into China Construction.

"Stop! Stop! Stop!" Lin Guangchang quickly stopped them, waving his hand and saying, "Let's not let it fall. What if the China Building also sinks?"

"Just make it cold, hehe."

Liao Guopei smiled.

The reason he can be so calm is mainly because he cashed out half of his chips yesterday, and his principal has been recovered. Now he is making a profit.

Using your principal to gamble on an increase in price, and using your profits to gamble on unrealized gains, are two different mindsets.

Time slipped away little by little as we chatted, and before we knew it, it was 9:15.

At the moment the A-share market opened, sectors such as banking, green power, securities, and coal were all in the green, and stocks showed a collective upward trend.

However, China Construction also rose, and gave a 6% premium increase, currently priced at 8.83 yuan.

With all stocks rising, investors couldn't hold back any longer and started celebrating prematurely.

[Little Meow Meow Meow]: I knew the sharp drop was a shakeout, hahaha, I added 5 to my position yesterday, and I'm making a big profit today!

[Fan Jin Que Shan Xing]: That was awesome, everyone was awesome! From now on, don't call me Boss Li anymore, I want to be the emperor in this bathhouse!
[Lonely Wolf]: Who said the A-shares market was going to collapse? The fake crash has washed away too many fools!

Retail investors were in high spirits, and stocks remained in positive territory throughout the opening auction. The Shanghai Composite Index and the Shenzhen Component Index opened at 3281.2 and 13141.76 points respectively, representing increases of 0.45% and 0.54%.

Zhang Yang observed that the trading volume during the pre-market auction phase shifted from strong to weak and then back to strong, clearly indicating the involvement of funds.

"Sell half of your shares if the market turns inflection point at the open."

"OK."

"clear."

Liao Guopei and Lin Guangchang quickly responded.

As 9:30 arrived, something unexpected happened to all retail investors: banks once again became the main force behind the market sell-off.

[Stock Anomaly Alert]: Huaguo Bank has seen a massive sell order of 600 million.

[Stock Anomaly Alert]: China Construction Bank has seen a massive sell order of 400 million yuan.

[Stock Anomaly Alert]: Agricultural Bank of China saw a super sell order, amounting to 500 million.

[Stock Anomaly Alert]: A super sell order of 700 million yuan appeared in ICBC.

The sudden sell-off by the four major banks caught all investors off guard; these are the stabilizing force of the A-share market.

Those who frequently trade A-shares know that when bank stocks rise, other stocks in the market may not necessarily rise, but if bank stocks fall, other stocks are likely to suffer.

Xu Xiang, who was far away at Zexi Private Equity, was surprised to see the unusual fund movements. He thought that the state funds were going to continue to boost A-shares, but it turned out to be a feint.

When a sheep is about to enter a pack of wolves, how can it not be killed?
Without hesitation, he scanned the room and raised his voice several times higher, declaring, "Boost China Construction, and once retail investors' safe-haven funds flood in, we'll cut them off with a single word!"

(End of this chapter)