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

Chapter 284 Has Buffett's Arrogance and Recklessness Made Him Enemies? He Appears at the Briefing

Shocking! A poor boy with 800 yuan rises to become a top-tier speculative investor with 50 billion yuan in just one year; the origins of the notorious "Fuchun Road" stock manipulator are surprisingly humble!

Has the reputation of "Evil Zhuang Fuchun Road" been reversed? No, I only see a young man striving to change his destiny!

With a 625 million-fold return in one year, Zhang Yang of "Fuchun Road" ranks first among speculative investors in annual returns, truly deserving the title of the strongest speculative investor!

With Zhang Yang's speech over, the online reputation of "Fuchun Road" was completely reversed.

People were not only amazed by the incredibly high return of 625 million times, but also saw their own hard-working selves in Zhang Yang.

So what if you come from a humble background?
Even alone, one can ascend Kunlun!

Many individual investors with entrepreneurial experience have also stepped forward to analyze from their own perspectives why Zhang Yang is so "evil".

[Li Ge, a Shenzhen resident]: I am a stock investor and also an entrepreneur in Shenzhen. To be honest, I used to hate "Fuchun Road" because it had a very narrow vision. Whenever "Fuchun Road" appeared, the market would inevitably crash the next day or a few days later. But after listening to Zhang Yang's speech, I suddenly realized that people come to the stock market to make money and change their destiny, not to gain fame. Moreover, to break through from the bottom, you really need some ruthless methods.

[That Night's Madness]: Indeed, if you come from a poor county, how can you transcend class if you don't ruthless to yourself and others?

[A bosom friend afar brings a distant land near]: My cousin is a tough guy who fought his way out of the countryside. In 1978, when the reform and opening up was implemented, he went to Shenzhen to do business in 79. I heard that someone saw that his business was doing well and came to his door at night with a machete to threaten him and tell him to get out of Shenzhen. As a result, he grabbed a kitchen knife and fought with the person. He also broke two fingers. Now he is a millionaire and has three houses in Shenzhen.

[The best thing to smoke is dry tobacco]: I was among the first to start my own business, and now I own two courtyard houses in Beijing. Let me share my thoughts on "Fuchun Road". First of all, it is indeed hateful that they prey on retail investors. But let's not forget that the underlying logic of this world is the survival of the fittest. You can't say that just because you're weak you're right, right? The strong should ruthlessly plunder the weak. That's the kind of place the stock market is.

1. No family background.

2. Lack of connections and resources.

How can you achieve a comeback without being a little "evil"?

With the help of netizens, the hashtag "Fuchun Road is fine" quickly climbed to the top of Weibo's trending topics list.

100 million.

500 million.

800 million.

The term's popularity is rising rapidly.

at the same time.

Shanghai World Financial Center.

Wearing a red suit, a million-dollar Rolex on his wrist, and with dark skin, Ge Weidong couldn't help but applaud after watching Zhang Yang's speech, saying, "What a fine Fuchun Road! What a man who shoulders the fate of his family! He's got guts!"

At this point, he had forgotten that Zhang Yang had caused him to lose over a billion yuan, and that the two of them still had an unsettled "betting agreement".

When Ge Weidong looks at Zhang Yang now, he sees only his own reflection.

Ge Weidong was born in 1970 in Gejia Village, Guizhou Province. His parents were farmers, and he was the first college student in the village.

Back then, jobs were guaranteed, so he naturally went to work at the Guizhou Grain and Oil Import and Export Company. If nothing unexpected happened, he could work there until he died.

In an era that valued stable employment, he resolutely chose to resign and speculate in futures, betting everything he had.

Why quit your job to trade futures?
Not content with the status quo!
A stable job is nice, but you can see the end from the beginning. Plus, the monthly salary was only a few dozen yuan at the time. Ge Weidong calculated that he might only earn ten thousand yuan in 40 years of work, while the company's futures orders were worth hundreds of thousands of yuan each. Therefore, he had the idea of ​​going solo.

As it turns out, Ge Weidong made the right choice. If he had worked at the Guizhou Grain and Oil Import and Export Company until he died, he would have earned at most a million yuan based on the current salary standards.

But now?

He can easily place an order for over a million dollars.

Zhang Yang's words resonated with Ge Weidong. Both being trading geniuses who rose from humble beginnings, Ge Weidong now viewed Zhang Yang not with resentment, but with mutual respect—a bond unique to those who achieve success through hardship.

Not only Ge Weidong, but also Zhao Danyang, the "King of Private Equity", shook his head and sighed after witnessing Zhang Yang's achievements and experience: "No wonder his methods are so sharp. It turns out he had a reason to be so sharp. Fuchun Road is quite interesting."

Wang Yawei, the "top fund manager," sat up straight. He felt a little scared and muttered, "No wonder financial think tank leaders like Bao Xingwei, Cao Fengqi, and Li Yining would take a liking to Zhang Yang. A return of 625 million times in one year—that resume is enough to make him reach the top in one step."

He began to regret his involvement in the crackdown on "Fuchun Road".

If he had known Zhang Yang was so monstrous, he should have befriended him immediately instead of making an enemy of him.

A 625 million-fold return in one year leaves private fund managers speechless, and public fund managers even more speechless. This is a return that they would find difficult to achieve even in their entire lives, and even Buffett might not be able to accomplish it.

……

Beijing, China.

In the courtyard of a traditional courtyard house in Xicheng District, several elderly men sat around playing chess, while a guard next to them held a laptop and played a live broadcast of Zhang Yang's speech.

"I can't believe it! Old Bao, you have such a discerning eye. You've discovered such a gem in the rough," said the old man with the mustache who was watching the game.

After his body had recovered, Bao Xingwei picked up the "cannon" and, while pondering how to proceed, replied, "To be honest, I didn't return to Shanghai University of Finance and Economics for Zhang Yang in the first place, but that little girl He Jing insisted on recommending him to me. Sigh, by some twist of fate, I discovered a gem."

He didn't call Zhang Yang a rough jade, but a precious jade, which made the old man watching nod slightly and understand the deeper meaning.

“If we move down here, we can checkmate the opponent in three moves,” someone suggested. He then added, “There’s only one ‘securities sales license,’ and it was vacated because of poor management at Xueyu Securities. Old Bao, do you have any ideas on how to get one?”

"Old Mu, just say what you want to say, don't give random instructions. Don't you understand the saying 'one should not speak while observing a game'?" The bald old man sitting opposite Bao Xingwei glared at Old Mu, his words full of displeasure.

"General."

Bao Xingwei indeed advanced to the third place.

The bald old man, who looked somewhat fierce and had a scar on his head, glared at the old Mu again and moved his "horse" back to defend.

He then added, "Zhang Yang's trading talent is undeniable, far surpassing all of ours, but he's just too young and can't keep things to himself. Once the 3% commission rate is mentioned, what will traditional securities firms like Huaxin, Guoxin, and Guangfa think? He'll immediately have more than a dozen competitors."

"Yes, making a dozen or twenty enemies in an instant shows a lack of shrewdness."

"The matter was accomplished in secrecy, but he hasn't realized it yet."

"The transaction commission of 3% is much cheaper than traditional securities firms. If I remember correctly, Huaxin Securities' default commission is 8%, and you can only get 500% if your capital exceeds 3 million."

"He hasn't even obtained a 'securities sales license' yet, and he's already standing on the opposite side of traditional securities firms. Old Bao will have to teach Zhang Yang a lesson about what it means to hide one's strengths and keep a low profile."

The elderly people watching the game all spoke up, feeling that Zhang Yang was not tactful enough, too young and inexperienced, and unable to keep secrets.

"General."

Bao Xingwei moved his car and, while checking the case again, retorted: "Not necessarily. There's a saying that he who wins the hearts of the people wins the world. Caiyan.com's current competitors are private capital, and its biggest competitor is Tencent. Nobody knows how much money they've prepared for the bidding. Rather than saying that Zhang Yang can't keep things to himself, it's more accurate to say that he's going all in for the 'securities sales license' and trying to attract as much private capital as possible."

"As for traditional securities firms, they should also lower their transaction commissions. Transaction fees of 10% or 8% are higher than those in the US stock market, which is not conducive to the development of China's stock market. Perhaps we also need a spear to pierce through the interests of the securities interest groups. What do you think?"

"..."

The group of elderly people remained silent.

They really hadn't thought of that.

In 2009, transaction commissions of 10% and 8% were very common, which is why A-share trading volume has remained low.

Taking 1 yuan as an example, if you trade 10 yuan worth of stocks, you first need to pay a brokerage commission of 10 yuan. If you want to sell, you have to pay another 10 yuan. A single transaction costs 20 yuan, not including stamp duty and transfer fees.

High commissions are not conducive to short-term trading or the development of the stock market, because the money from day trading basically goes to the brokerage firms.

This is only 0.010%. Some brokerages, relying on large platforms, offer 0.015%, which means that for every 10,000 yuan traded, 15 yuan is charged. Which ordinary retail investor can afford that?

Because of the high brokerage commissions, the stock market in 2009 was mainly played by middle-class and well-off families. Ordinary families had never been exposed to the stock market. In addition, the stock market crash in 2008 led many people to commit suicide, so they viewed the stock market as a monstrous flood.

"I think it's a good idea. Transaction commissions should be reduced. Lowering the entry threshold can not only increase stock market liquidity, but also prepare for the pilot program of margin trading and securities lending next year."

The bald old man playing chess with Bao Xingwei was the first to speak up, and once again used his advisor to block the checkmate.

"Those people have been emphasizing that the whole country is a unified entity, and that companies can raise money and develop by going public. Now there are ways to increase the liquidity of the stock market, which I think is quite good."

"I also think it's a good idea; it's time to adjust the transaction commissions of traditional securities firms."

"So, you've pre-arranged for Caiyan.com to win the 'Securities Sales License'?"

All eyes turned to Bao Xingwei. If he swallowed his pride, even if Caiyan.com failed in this auction, they could find a way to facilitate Caiyan.com's acquisition of a traditional securities firm, thereby obtaining securities sales qualifications.

Of course, they could also go through the proper procedures to issue 2-3 new licenses to avoid controversy.

"Let private capital decide the winner in its own game. I will not interfere, nor do I want anyone else to interfere."

Bao Xingwei's attitude was very clear: he wanted fair competition.

Some time ago, he suffered a stroke and was hospitalized for treatment. He talked with Zhang Yang, who rushed over to see him. What Zhang Yang wanted was not a fast track, but a fair competitive environment.

This is a small matter that Bao Xingwei is capable of handling, and most importantly, he won't give anyone cause for gossip.

The elderly men watching the game also understood Bao Xingwei's underlying message and inwardly agreed with his proposal to uphold fair competition.

After all, 2009 was a crucial year, a turning point in the subprime crisis. Businesses affected by the economic crisis needed money to recover and improve their competitiveness.

Where does the money come from?
It's impossible to rely entirely on commercial loans because the repayment costs are too high.

This is where the role of A-shares comes in. Not only are stock market financing costs low, but financing costs can also be further reduced through high-level share issuance.

Why does the A-share market experience a bull market?

Let retail investors make money?
Not!
Every major bull market occurs to drive up stock prices, allowing companies to issue more shares at high prices and low costs, thus raising funds.

This raises the question: when is the best time to drive up stock prices so that companies can obtain funds to enhance their market competitiveness?

Four words: cycle switching.

...Shanghai, the capital of China.

Shangri-La Hotel.

After bowing in thanks, Zhang Yang looked at the media reporters below the stage and said, "Now, please welcome my capable assistant, Xu Zhirou, CEO of Caiyan.com, to select the reporters to ask questions."

He deliberately mentioned Caiyan.com again and gave the choice to Xu Zhirou.

Upon hearing this, Xu Zhirou took the microphone, walked to the front of the stage, and randomly selected one of the media reporters.

The other party took the microphone and quickly introduced himself: "This is the Shanghai Financial and Business Daily. I would like to ask Mr. Zhang how you balance your time for stock trading and running your business. Thank you."

"Um……"

Zhang Yang thought for a moment and said, "In the middle of this year, I had lunch with Buffett. During my meeting with Mr. Buffett, I asked him about this question, and his answer was very interesting. This is what he said."

After a pause, he mimicked Buffett's tone and said, "For me, the most important thing in managing a company is not how many flowcharts you draw or how many rules you set, but finding the right people and then keeping quiet."

After imitating Buffett, Zhang Yang said, "As you can see, I handed over the management of Caiyan.com to Ms. Xu Zhirou, while I focus on stock trading. It's that simple."

"Clap clap-"

Another round of applause erupted from the audience.

Managing a business can be simple or difficult.

Simply put, the world is not lacking in business management talent; the difficulty lies in the fact that no boss dares to easily delegate authority.

Many people understand the saying "Let professionals do professional things," but they just can't seem to put it into practice.

"Oh wow, you're the one who taught him." Charlie Munger looked at Buffett with amusement, clapping even harder.

"Zhang Yang is a quick learner; he really made back his $300 million investment," Buffett muttered to himself.

He still remembers that lunch vividly, because Zhang Yang not only asked him for advice on corporate management, but also tricked him, making him an unwitting spokesperson for Caiyan.com.

"Next person."

Zhang Yang said with a smile.

Xu Zhirou took the microphone back and randomly picked a reporter from the media.

"This is Securities Times, I am reporter Xie Liyang. I would like to ask Mr. Zhang Yang, we just noticed that you only invested 800 yuan in the market in March. How did you earn 5 billion yuan in less than 9 months? Could you share your experience and investment strategy?"

“Of course.” Zhang Yang smiled calmly and explained his investment strategy: “The key to my ability to turn 800 yuan into 50 billion yuan was to complete the initial capital accumulation through market research reports and then leverage the available funds.”

“举个例子，800元本金你想赚到800元，要吃满8连板，可如果你有8万块钱本金呢？8连板的收益就是8万华国币。”

"Of course."

"I am not encouraging the use of leverage."

"What I'm trying to say is that when you have a small amount of capital, you should focus on your main business that can generate stable profits, rather than the volatile stock market. Only when you accumulate a certain amount of capital can your efforts be rewarded accordingly."

At this point, Zhang Yang paused for half a second, then suddenly laughed and said, "What I'm about to say might be a bit harsh, so please don't scold me. It's just that most retail investors actually have a lack of understanding, and the stock market is a place that extremely tests one's level of understanding. So I advise the vast majority of retail investors not to easily copy other people's trading strategy models, not even Warren Buffett's. You should actively find your own trading strategy. Even if you only earn 5% a year, that's still much more than the 2.25% of a bank."

The audience fell silent.

Quiet!

It was very quiet!
Many retail investors, when they first start investing in stocks, are actually imitating the investment strategies of famous people, such as Buffett, Peter Lynch, and John Bogle. But they don't realize that the Dragon-Slaying Saber has different power in the hands of Guo Jing and Huang Rong than in the hands of Xie Xun.

"You were mentioned again."

Charlie Munger whispered a reminder.

“I know, I’m starting to suspect that Zhang Yang knew we were here and deliberately called me out,” Buffett whispered in response.

Charlie Munger: "That's quite possible. That kid looks like he's up to no good, and I wonder what he's up to."

"Yeah, that kid is really bad."

Buffett responded in a low voice.

While the two were talking, the live stream chat was flooded with comments. At this point, the retail investors did not think there was anything wrong with what Zhang Yang said; on the contrary, they strongly agreed with Zhang Yang's point of view.

[Time and Space Lovers]: If someone else says I have a low level of understanding, I can get angry with them, but if it's a big shot with a 625 million-fold return, then I admit that I do have a low level of understanding, and I need to rebuild my trading model.

[Fishing Guy]: No, did Zhang Shen install surveillance cameras on my head? How did he know I copied Buffett's value investing strategy model, made a net profit of 5 yuan in 2009, lost 9 yuan in 2008, and am currently still down 4 yuan?

[Taoist priest uses Pantene to wash his hair]: Everyone, please bear with it. That man has a return of 625 million times. He scolded me for not knowing how to trade stocks, and I didn't dare to refute him, even though I made 20 this year.

[Don't call me a good student]: A 625 million-fold return is amazing? I have an 800-yuan securities account here, or if that's not enough, I'll add another 800 yuan. If you can get Zhang Yang to replicate the 625 million-fold return, I'll be impressed.

[The Boy in the Rice Fields]: If that's the case, then I also think Zhang Yang is just a name without substance. I also have an 800 yuan securities account here. If you're so capable, help me get a return of 625 million. If that's not possible, 300 million times is fine too. I'm not greedy, hehe.

When the gold standard of a 625 million-fold return is put out, which retail investor wouldn't be terrified?
In the stock market, returns speak for themselves!

"Next person."

Zhang Yang's gaze swept across the audience.

Xu Zhirou, after taking back the microphone, randomly found a reporter from the media. The reporter, upon receiving the microphone, immediately asked:
"We are reporters from the China Securities Journal. Looking at Mr. Zhang Yang's speeches this time, as well as his previous public appearances, you have repeatedly emphasized the importance of cognitive level. My question is, how should ordinary investors like us improve our cognitive level? That concludes my remarks. Thank you."

The other party handed the microphone back and waited quietly for Zhang Yang's response on stage.

All the audience members in the conference hall, as well as millions of viewers in the live broadcast rooms on various platforms, were completely focused, not daring to miss a single word.

Actually…

Zhang Yang thought about it carefully and replied, "Cognitive level is improved based on the platform. For example, in a good family, the height of the family platform depends on the cognitive level of the parents. If ordinary investors want to improve their cognitive level, they can first pay attention to news hotspots and important policy meetings, try to interpret them, and then compare them with the interpretations of financial professors, so as to gradually train and improve their thinking and cognition."

He added, "Many retail investors don't know how to monetize their knowledge. Let me give you an example. Suppose you accidentally discover a shampoo that works really well, and you recommend it to a friend. Your friend also says it works great, and when you search online, everyone says it works well, but the marketing isn't strong enough. And the company that produces it happens to be listed on the stock exchange. Then you can try investing in that company. Because a good product is just one opportunity away from becoming a blockbuster. Your knowledge of this shampoo has already set you apart from others, creating an information gap. That's how you select stocks from everyday life."

"Clap clap-"

"Well said."

Buffett suddenly stood up and clapped his hands in praise.

His voice wasn't loud, and he was in a remote location, so Zhang Yang could only notice that someone stood up, but he didn't hear what Buffett said.

"That person looks so familiar..."

Zhang Yang murmured to himself.

A loose-fitting suit with a red tie…

He couldn't remember for a moment.

Just as Zhang Yang was treating Buffett like an ordinary investor, the latter took off his hat and mask.

In an instant.

The scene was chaotic.

"Fuck!!!"

"No way, Mr. Buffett?"

"I thought it was someone so arrogant, speaking English in China, but it turns out it's Warren Buffett!"

"Ahhh! Buffett, I'm your idol, no, you're my idol, Buffett, ahhhhh!!!"

"It really is Buffett! Wow!"

Buffett's sudden and high-profile appearance caused a commotion in the meeting room, with everyone turning to look at the legendary stock market figure.

BlackRock CEO Larry Fink never expected that this small briefing would be so full of hidden talents, including Warren Buffett, which was quite unbelievable.

Xu Xiang and Zhang Jianping were also surprised when they saw Buffett. They did not expect that Buffett, the "stock god" recognized by retail investors all over the world, would be here.

"Gulu——"

Ma Xinqi, standing to the side, swallowed hard, his body trembling with excitement, and exclaimed, "It really is Buffett! He actually came to China!"

"No wonder Zhang Yang kept mentioning Buffett; he knew Buffett was there too."

Xu Haiou whispered.

Shu Yimin: "No, don't tell me it was Zhang Yang who invited Buffett to a briefing. What's their relationship?"

"Master and disciple?"

Sun Guodong then spoke.

"Impossible, Zhang Yang spent money on a meal and also became an apprentice?" Xu Xiang was stunned. If it were really possible to become an apprentice, he would also pay more than 300 million US dollars!

When Xu Zhirou saw Buffett in the audience, she quickly ran up to him and handed him the microphone.

Buffett took the microphone and repeated what he had just said: "Very well said."

He then added, “Selecting stocks from daily life is an investment model that I really like. Zhang Yang, you are truly amazing. You are the most talented trader I have ever seen, and you are also good at learning. If there is an opportunity, I would like to have a more in-depth exchange of investment insights with you.”

(End of this chapter)