"How Do I Confess To My Family?" A Stock Investor Revealed That He Lost All His Millions Of Principal Through Leverage And Bet On The "Northeast Stock King" But His Stock Price Was Cut In Half.

Han Yuelinfeng's journey over the past three months has resonated with many Changchun high-tech investors. Since the post was published, there have been more than 1,600 comments.

In fact, it’s not just investors in Changchun High-tech. In recent times, in the interpretation of market structural trends, investors who bet on different tracks can be said to have very different holding feelings: Betting on the new energy sector will make great progress. the way. ; Investors in long-term bull sectors such as Chongcang Pharmaceutical and Liquor, which were still prosperous in the first half of the year, felt like what Han Yue and Lin Feng said, "a knife stuck in my body."

The key is that in the downward channel, many investors like Han Yue Lin Feng also increased their leverage and doubled their losses.

For example, in December 2014, Chengdu Aircraft Integration Co., Ltd. fell to the limit for three consecutive trading days due to failed restructuring, and many "financiers" were liquidated and eliminated. At that time, a reporter from China Securities Journal combed through the statements of many Chengfei Integration investors and found that "financiers" held extremely concentrated shares, holding full or heavy positions in Chengfei Integration.

The experience of Han Yue and Lin Feng once again taught small and medium-sized investors a risk education lesson: first, the risk of leveraged stock trading, and second, the risk of concentrated shareholding. As mentioned earlier, these two risks often interact with each other.

Increased leverage creates liquidation risk

Another major risk in using leverage to trade stocks is being forced to cut off profits and cause actual losses.

Before Changchun High-tech started this round of decline, there was a widely circulated story: Guosen Securities said that an aunt in Dalian bought Changchun High-tech’s shares for 50,000 yuan in 2008, but because it took too long, she forgot about it. , and she didn't think about it until recently. After closing the account, I found that there was already more than 5 million yuan in the account.

A similar legendary investment story is Wang Fuji, the second largest shareholder of Pien Tze Huang: From 2009 to the present, Wang Fuji has been "all-in" in Pien Tze Huang, almost only buying but not selling. The cost of holding shares was 200 million yuan, and the value of the shares once increased to 12 billion yuan, even making it onto the Forbes list of the world's richest people.

In fact, not to mention that many white horse stocks whose stock prices have plummeted recently are famous ten-fold bull stocks. As long as you extend the cycle a little longer, you will find that for white horse stocks whose fundamentals are still strong, this may be just another short-term fluctuation. Therefore, during the continuous decline, many investors chose to "close their positions" and trade time for space.

However, it is difficult for investors like Han Yue Lin Feng who increase leverage to speculate in stocks to have patience and determination, because continued declines are likely to trigger a liquidation and be forced to liquidate stocks.

At the 2021 Equity Investment Strategy Conference held by Wells Fargo Fund at the beginning of this year, the famous fund manager Zhu Shaoxing gave an example:

"We used to analyze the profit-loss ratio of holders' investment income. Take my own Tianhui product as an example. It has been in existence for 15 years, almost 20 times, and the net value is also near the highest point. According to simple logic , generally holders should make money in it, just make more or less. But after our data analysis, we came to the conclusion that a considerable number of customers did not make much money, and some even made money. This Kind of surprising. Suffering a loss."

"We came to a big conclusion in this process. Fund holders have some bad habits in the investment process, especially chasing the decline. Stop chasing the rise, because for a person whose net worth continues to hit new highs, , chasing the rise can "make money in the end." The easiest way to cause losses is to chase the decline. When the market is relatively volatile, admitting losses and never coming back again will result in heavy losses. "

标签： #Leverage #Loss #Holding #Changchun #High-tech