Financial novel

 Part II:
(IX)
next half past ten, XIAO Rong Lei Shengping sounded the office door, he felt that this time should be relatively free time manager, but still go after the XIAO Rong busy to call, see Lei Shengping, so he sat down to play a gesture.
XIAO Rong Huang Yi, a large office than a lot, looked from the window, blue sky, white clouds, green perfect form the picture, the interior decoration is also quite elegant, simple shelves in addition to some funds of professional books, there are a set of the large financial TV show see XIAO Rong hangs up the phone, Lei Shengping quickly went closer. After all, XIAO Rong for Lei Shengping there helping his career, although that XIAO Rong Lei Shengping may also criticize his insolent, but his words between still revealed a respect, ;
Leisheng Ping XIAO Rong watching in silence, hearts are still some apprehension, XIAO Rong slight ghost of a smile, In fact, the analysis of listed companies often need this to Seeing. I'm sorry.
. report, or even often work late into the night. from the net performance, Chen Zhihui operating level in the domestic fund managers in the upper reaches of the past ten Awkwardness of view, Chen Zhihui's operations are unconventional, some rather less popular stocks for the fund increase the net has made no small contribution. But no chance, and Chen Zhihui Lei Shengping been discussed face to face some problems.
, familiarize yourself with the investment practices, the future direction for the investment, will you? Members of the monthly salary of eight thousand state of intense work and easy to get a million in salary and researchers can not compare. Leisheng Ping thought to himself that he is not being demoted by it, this time seems to see the Leisheng Ping XIAO Rong's thought, a people who love challenges, no matter what kind of consideration for the leadership, in fact, doing his own heart would have preferred the work of traders, as long as not too long. after all, fund managers can learn some strategies for their future investment lay a good foundation for his career, after all, the so-called researchers make recommendations, the report bluntly, your fund manager is willing to look to look at, do not want to throw in the side or look to the editorial department as a financial magazine articles to the customer, really Do not take too seriously their own children.
this way, two weeks after the Leisheng Ping was transferred to the Investment Department, a matter of course became a trader.
(ten)
struggling in Shenzhen more than a few months, when the excitement is beginning to gradually eliminate, loneliness and solitude of the Lei Shengping state of mind. the start of every home he often tried to cook their own food, then slowly began to weary of this housewife like life, often in fast-food restaurant outside the settlement. night time is long, and sometimes he would watch TV, sometimes on the Internet, look up information, and sometimes he would stop and read books, of course, to the Pan-Finance class of professional books based. abroad like Robert? Shiller's markets, effective demand and economic growth, . to play a more important role in the company, fund manager to achieve the goal, he must further Shuyun few phone calls to comfort him. Although each of two people to run around and take the chance with not a lot, but no plans to re-Lei Shengping find a girlfriend. Not that Lei Shengping particularly specific, after all, the Fund The industry dominated by men, which in addition to the company secretary of a few CEOs still see the past, the rest of the women really could not get Leisheng Ping interest. So, I heard the voice of the Shuyun, Lei Shengping feel at home .
What was banished ah, it is normal mobility. I feel very good ah, I'd want to be a trader, and now orders a day, cool enough, I'm from the fund manager has only one step away. ? a mere trifle matter, in fact, many are also some element of luck. However, the short-term inflation may be repeated so fierce. you? work how, not liking the Shanghai bank? ? to it going on now! content of the work day are similar, behave, not like you are in contact every day something new. customers is extremely embarrassing, leading very depressed, from not accompany me. how to? hh ah you have to refuel the Shenzhen side of the bank if the recruitment, for me to heed. hope.
how cool how to listen, he appreciated the beauty and talent in Shuyun in Shuyun also appreciate Lei Shengping like that kind of domineering entrepreneur farmers, which it called a hero but unfortunately the hero. This eighty-twentieth century, in those After the young man's eyes rather old-fashioned and outdated love how scarce indeed. They both can catch up, be a fate. lying in bed, Lei Shengping ponder about it, come up with special skill , to the Shuyun made a Seven-:
autumn twilight hours of howling wind Shen
Chapman
gloom brightened into bitter
Acacia haggard as the Iraqis
ablation is already too much the night, looked at the phone over MMS transmission in Shuyun photos, Lei Shengping to sleep after a long time before.
third left back
stubborn resistance to the military orders would be laid off
Department Pengcheng haunting Dream Weaver
(XI)
is nothing more than the work of traders from opening to closing, constantly staring at the market's trend, stock transactions and timely feedback, and to accept the fund manager's instructions quick order. Although in recent years funds work environment than the company's focus on brokerage trading room then relaxed a lot. but as traders, at work, still can not just answer the phone outside, not in foreign calls associated with the transaction, and is being closely monitored, afternoon trading session on the four hours to be restricted to the toilet even number. So, end of the day, the immediate surface K are red and green chart, go look at the road to see traffic lights are at a loss.
Lei Shengping traders into the post, quickly adapted to this intense work. blink of an eye and a few months later, the work is that the work cycle and the turnover per trading day is the kind of ordinary and extraordinary, Lei Shengping articles are also buried in the company network, no one to notice this a few months more than thirty percent gain in 0079 and 0238 do not live die sideways.
look at Lei Shengping , the fund manager Chen Zhihui is a very smart investor, the same early thirties, looks a lot younger than Huang Yi. domestic fund industry, fund managers generally in the age of thirties, which reflects a China's fund industry's young and energetic, but inevitably also feels a bit impetuous and noisy. Chen Zhihui body is shown by some common domestic fund managers: the head of one centimeter long posting on the scalp, the industry called head Some halfway decent financial editors Zhaomaohuahu, and even sudden traders do not like to ask questions, have been traders duty is to execute the instructions of the Manager, in his price range allowed by buy low sell high as possible, regardless of other things. But Chen Zhihui Lei Shengping is found The only plastic, the idea is always pointing or two. such as the valuation of the stock, Lei Shengping always confused whether a stock should be a kind of value, such as you give it ten times price-earnings ratio, price-earnings ratio twenty times, thirty times earnings valuation levels, in different market environments probably reasonable, but the resulting difference between the corresponding stock price may be two to three times. continue to increase along with price target. how you can determine the reasonableness of the valuation it? is not the same, the stock's valuation is different. . a constantly changing environment, a changing business, how could it have an absolute value? growth issues completely. there will be a hot market, the market for a particular section has a special preference, or a plate in this time is scarce in the market, then it should naturally have a high valuation. such as the recent stir in the military market, the concept of to so few stocks, the scarcity of ah. On the contrary, the market performance of blue chip although there may be picking up, but the dish is too large, scarcity is not so high, the low valuation levels naturally. valuation? is the market's expectations. now up steel stocks, the valuation of steel stocks you should be how much? I see no reason to fifteen times earnings, twice the book value. corresponding to the price of steel should be seven or eight dollars, E value of two or three dollars no problem at all. Unfortunately, the original warrants Handan Iron and Steel, was originally a bird's nest, was made by a fan of Baosteel. as the future direction of the normal distribution, but now the market is bullish pattern, is likely to rise in the stock market out of the side, and if so, BS model is the natural failure. Some analysts simply use financial engineering to the BS model of warrant pricing, and said most of the put warrants a lot of prices, is simply ridiculous. WISCO warrants will soon expire, I want to make it a practice! the excitement goes as far as operation strategy disclosed in advance to the Lei Shengping.
and paid a painful price, do you think it is reasonable to do? error. then touches the network to listed companies soared, many traditional companies have also involved in the network, you say this section is also the scarcity of it? a commodity, supply and demand factors affecting its price. waiting to buy up the stock in short supply, wait for it to sell surplus stock down enough. Now look at the market, the people out of the savings to buy funds, tens of billions tens of billions of hair, the fund how to do, only buy stocks, expansion rate and can not keep up, a shortage of quality stock of natural hh this time Leisheng Ping and the Shuyun more call up, he looked forward to early in the Shuyun to Shenzhen, so that two people can come back together. Unfortunately, the recruitment of the network information is not suitable for Shuyun work. During that period, the recruitment of the financial sector or in addition to the main commercial bank stock analysts and consulting firm based, it is low and that Lei Shengping held in contempt. until 2007, at Shuyun is still no proper opportunity to go to Shenzhen. New Year's Day During Lei Shengping to a poem in Shuyun, once again demonstrated his liking. a poem that goes:
youth who run around with wine in a foreign land
v. Zhongchang
bell push me Yin Quotes
moonlight
I Sijun keep reading that is in Shuyun smiled, thinking that this nerd has to take the acidic water.
(second)
Although the fund manager's investment instructions will be communicated to the number of traders, each trader does not know the overall strategy for fund managers, but still found Chen Zhihui Lei Shengping some action ideas. in the configuration, some low-risk stock is basically fixed, after all an ever-rising market, the buy and hold is a good strategy. However, the fund manager is ultimately lost and lonely, in Chen Zhihui's investment portfolio, constantly changing, some short-term investment products, sometimes even trading cycle But is three to five days. military unit, 3G stocks have brought him over pretty good gains. So, whoever said that only long-term investment fund managers, then, not ulterior motives that really do not. In general, Chen Zhihui's short-term operation is more successful. While pursuing a short-term, but the operation of the stock is still selective, basically those that underperformance will not share the vision into Chen Zhihui. The sharp short-term operation naturally aggressive, fast-forward faster. resolutely stops for Chen Zhihui, Lei Shengping feel sincere admiration, this capable, courageous categorically not what can be trained overnight. If the event is not an accident, Lei Shengping traders may position to continue to stay.
Half the time, Chen Zhihui Lei Shengping commission received instructions.
, back to say. cigarettes, staring 0036, edged down three cents at present, press F10, the first three quarters of negative earnings per share of two extraordinarily harsh and Mao. Why? Why buy an invisible loss of stock transfer? He do not understand. the minutes ticked by, it seems hot ash burn their own look, Lei Shengping This has recovered, look at the time, it is already two fifty-five, the beans big Khan beads flow down the forehead down, the itch, but also with a trace of cool. He took a deep breath, almost burned tightly Put out the cigarette butts, or turn off the trade window.
After the close, Chen Zhihui angry phone calls came, is the fund manager or you are a fund manager? you think you are? Why do you try to be smart?! br> a trader to refuse fund manager's instructions, what does this mean?
next day, the 0036 limit, and this one can not help Leisheng Ping XIAO Rong, according to the company's discipline, this was a very serious accident .
Lei Shengping laid off hh
(thirteen)
while listening to the song too old to old days of cell phone re-open, showing a dozen messages, which sent me in Shuyun have five, in chronological order, wrote:

, and sudden death to me. career setback does not matter, I will always support you, I beg you, turn it quickly! such a girl is really concerned about their own kind of happiness. Finally, he called on the Shuyun phone.
in Shuyun had almost crying, , an empty bottle on the table fall to the ground, issued a crisp sound.
the silence.
br> You scared me these days, and you all like. The good news, I came to Shenzhen, and Tai Houtian noon aircraft. but because this sentence is crisp sound.
times to get the Bank of China Shenzhen Branch of the Offer, to the other side is mainly made of the public aspects of the business, I had hesitated to do in the past also, to see you so depressed, decided to head over a hot condolences condolences to you.
Nothing is to pick me. the excitement brought him far greater than the displeasure of losing their jobs, he is not eagerly looking forward to this long-awaited reunion.
Da Houtian morning, Lei Shengping get up early, bathed, shaved carefully selected the very spirit of a seemingly casual T-shirt, like the front of the house as a girl with the broken mirror to photo. He wants to be the spirit of some, can not let the Shuyun see a depressed and decadent themselves, but do not want to be seen to dress himself.
Although only two aircraft to, but at eleven o'clock, Lei Shengping has not help in advance of departure, before leaving to eat two boiled eggs , then rinse again, and then a piece of chewing gum, flew away.
February is the coldest time in Shenzhen, but it is so cold like the north, ten degrees the temperature down to pick up people with good mood. Baoan International Airport Terminal A at the exit full of people, heard the broadcast prompted by the Shanghai Pudong International Airport opened to the aircraft approaching the airport when Bao, Lei Shengping start staring, waiting and looking for excitement .
Finally, after another passenger appeared in the distance, in the crowds in, walking slowly, a pretty girl, flowing hair, white coat with a normal pair of jeans is not very conspicuous, But the tall figure, revealed a beautiful girl, pink sunglasses, a young energetic show; Although not see the face, but steady pace is quite a bit of confidence is so familiar. Yes, it must be her! Her step by step, closer and closer, Lei Shengping even held her breath. The girl also took off the sunglasses, a pair of watery eyes exposed to the strange and foreign land the city's desire refresher expectations, yes, it is Zeng Mexican-style pair of eyes! Ping is the look of a giggle, the two closer and closer, there are a half meters apart, when Lei Shengping stopped, took over in the trunk of hh
Shuyun could not be more vulgar vulgar reunion story, and not fully repeat itself in two, full view, love of Beauty and the expression was still so subtle.
the hh mm hum, how this can do ah. ;
Kappei right hand holding the trunk, the left hand holding the little hand in Shuyun, out of the airport, take the bus to the city.
night, night bar, Huaqiang North, the two talk to each other with six months experience. talk In fact, in Shuyun between Lei Shengping know over there have their own distress. Despite the great wealth in the South China Pearl River quite well known, but in the inside circle of Shanghai's financial industry, Fudan University, accounted for half of last fiscal, financial Large Pearl This is the regional financial institutions is no advantage. Shuyun always done in the past six months some of the most basic work, though hard, but the leadership has not received attention. Shuyun to Shenzhen in the number of banks were voted resume, Bank of China to a new tune to catch up with long branches, some recruitment program, the personnel department that the conditions in Shuyun good, to seek the views of the competent leadership, given the opportunity in Shuyun, everything is actually quite smooth. hear the thunder Kappei describes his experience after six months, in the natural and ultimately enlighten Lei Shengping Shuyun, she tries to encourage that kind of thing. In fact, Lei Shengping feel now is much better, accompanied by the natural beauty there is no reason to go to indulge He soon Cheer up, send your resume to financial institutions. Of course, he is still the tendency to cast a lot of fund companies. Leisheng Ping felt that after two setbacks in Genpo funds, they have completed the double bottom of the building about to usher in reverse market. Sure, in the spring when the spring in March, Lei Shengping HTC received the job offer fund management company.
(fourth)
fund management company is HTC fund industry in the new camp, the birth of late, until the end of 2006 has just issued an equity fund, both the size and strength can not be compared with Genpo fund management companies. Nevertheless, the fund manager HTC also graduated from Jinhua Kuai University of Finance at the Pearl River, Pearl River's first batch of Master of Finance major, long-Lei Shengping second, and equally under the tutelage of WU Han-pass, is his brother. Kuai Jinhua will Leisheng Ping to hire, one fancy fellow friendship between the second, Lei Shengping work experience described in your resume and actions make him interested. two men first met, the inevitable bits of memories from the school about.
School had never been seen, has just set up the financial system was divided into specialized international financial, monetary and banking and rural finance, it also points so fine you? Many middle-aged people to sign: a dark suit and no line buttons, holding up shirt and dark belly bulge capsule capsule, attached to the belly makes the body outline on the exceptionally clear.
, collectively known as Finance, Master of our school into an international financial, monetary and banking and securities Investment in three directions. graduate, read the Wang Jizu old gentleman, Dr. Jian Wang is a master of time and the students. Second, head of the department, and his disciple Wang Jian is to create the Shenzhen Development Bank and Shenzhen Stock Exchange during the legend, You are students of Wu, Wu and say hello and I am sure you recruit them, but you did not do so, but through open channels to vote resume, to be honest, I would appreciate you more. I am flattered. experienced very comprehensive, and why leave Yuanfeng it? experienced lay it out speaking.
listened Lei Shengping narrative, Kuai Jinhua silent for a moment, Naoliao few scalp, you are right, he wanted to maintain the authority of the Manager; your interests from the company, can not say completely wrong, there is a systemic problem, if Chen Zhihui explain to you, you will certainly do so. But if In that case, is his breach of discipline, so really easy to get. this kind of thing, more experienced, will know how to do. after such a situation, not sure, you can report directly to me . understand me? , you are still dry from the grassroots, we HTC force in the industry and the research is not strong, you still do researcher at it, but I do not give you by the industry, whether it is inside or outside the stock tank, you are can focus, I hope you can find one or two dark horse. Haha, it seems a bit like a commercial stock analysts to say. Shun-Ping's career seems a lot. Jinhua, as Quine said, HTC's own R & D strength is not strong, with Lei Shengping researcher positions in the hard, three or four months time to really explore a few Note that the stock is not good, so my colleagues impressive, the fund managers rather sigh. Leisheng Ping if heeded the recommendations of the net categorically not fund one dollar face value of the delay remained at the following.
HTC's unique a fund preferred stock issued in mm HTC January 2007, a time when market is the most crazy upstream end of the stage, time of day and successfully raised more than eighty million. At that time the mainstream view is that large funds Fund performance was weaker than small-scale operations, from the actual situation of China's securities market, there is a grain of truth, after all, the fund managers in the eyes, A-share market value of the stock with relatively limited investment, the scale is too large indeed faced with the choice on difficulties, so many funds have chosen the control issuance. Hongda inexperienced, did not want to control the size, but unfortunately has become the industry's unwritten rule, but to do so, the first day of issue size exceeded eight billion, and select the end of the subscription in advance.
However, after the formal operation of the Fund is not optimistic about the market trend, soon after the Shanghai index shot up into the adjustment of the operation a few months fallen by twenty percent broader market, fell back to re-location of two thousand points along the shock finishing phase of fund managers in the Jiancang are too optimistic, only reluctantly to accept the adjustment. since the end of 2006, almost crazy the market in early 2007, many fund managers say the end of the fund raising to begin operation within three to five days of Basic Jiancang completed, because the action a little bit slow, the market is likely to turn up between a few hundred points in a few days, this situation is obviously fanatical irrational. HTC preferred stock same is true for fund managers, operations sharply after the position is opened early in the index fell more that is priceless cattle back, rapidly enhance the stake. But the market continued to fall thereafter, the Fund has been unable to walk a fine line flexibility. As the market determine the errors, underestimation of the decline, the Fund overweight positions, resulting in a net two months consecutive nine cents lower than the minimum time to over eighty four, is now eighty six, the fund share from the initial 8.5 billion were shrunk to twenty two hundred million.
this round of adjustment to the market, some analysts say, after a long-term suppression after the vent, in the split share structure reform, a comprehensive circulation after the end of the market appears to have begun the after-effects, especially in some limited lifting of the ban sale of shares and type of voting mechanism of the loss has brought to the market sell-off psychologically. However, when the exchange fund managers generally believe that in fact this is nothing but short-term return to calm after the violent outbreak of it. It appears that the pace of the bull market has not always been smooth, the ...