The bustling stock market

The 30 billion quantitative fund has run away. The probability of getting it back is not high.

With the rise of the Internet, many Chinese people want to get rich quickly, and various opportunistic things have emerged, such as the collapse of P2P with high interest rates, the failure of products played by rich people such as Zhongzhi Group, and now the 30 billion private equity FOF institution Huaruan New Power has also encountered a big problem. It invested billion in a quantitative fund and ran away. The probability of recovering the money is not high, and investors may lose all their money.

Private equity FOF can be said to be a private equity among private equity, that is, after raising money from the market, it will find a private equity institution that it thinks is good to invest in, which is actually like an insurance intermediary. This time, Huaruan New Power was cheated of 30 billion yuan because it was deceived by layers of routines. For example, it first invested in Hangzhou Huisheng, then invested in Hangzhou Yuyao, and then invested in Panjing. As a result, the money was taken away in Panjing, but its net value could be falsified to 20-30%, so that there would be time to launder large amounts of money. In this regard, I feel quite shocked that a private equity institution with a capital of 6 billion yuan was also deceived. After this incident, the private equity changed 30 product managers, but the current issue is whether the billion yuan that was deceived can be recovered.

From this incident, it can be seen that those public funds that have trapped investors were immediately liquidated. Although they have lost 30-50%, at least the money is still here, and there is a high probability that they will make a profit when the market is favorable. It is believed that it is because large institutions such as public and private funds are generally not doing well that A-shares lack backbone stocks. The US stock market rose sharply overnight, and the A-share rebound on Wednesday was hesitant, dragging down the 50% surge in the FTSE A1.7 index in the morning. Among them, foreign capital inflows exceeded 59 billion on Wednesday, but it did not make any splash, indicating that domestic capital is indeed a soft egg, and they are all thinking about filling the gap on Wednesday.

The hot money on the market is much more aggressive than the big institutions. It continues to snipe in the Huawei industry chain, such as Kaichuang Electric's 3 20%, Huina Technology, Xiangnong Xinchuang and other stocks have risen sharply. However, at present, the short-term main line does not seem to be clear. I think we should pay attention to the killing space of high-priced stocks tomorrow and the day after tomorrow. Of course, for the medium and long term, I think the overall rise is highly likely. Whether it is liquidity, valuation, policy, etc., it is very positive. It depends on whether the market chooses a slow rise or a bull market.

The CPI in October was 10%, lower than expected, which made the market more certain that the Federal Reserve would reach the turning point of interest rate hike. The recent rebound in the United States is very beautiful. This means that the most drastic depreciation of the RMB has passed. As long as my country's economy grows steadily, the exchange rate will re-enter the appreciation stage. The continuous inflow of foreign capital will inject new vitality into the A-share market.

In addition, it is believed that the current market has a biased understanding of the intensity of policy reforms. In particular, the reforms of IPO reduction, refinancing and reduction of non-tradable shares are underlying institutional changes and are truly positive. However, the market's response in the past few months has been too flat. As long as these policies are implemented seriously in the future, the market will rise for a longer period of time once it starts.

From this point of view, although the market rebound on Wednesday was weak and the gap below will be filled tomorrow and the day after tomorrow, the outlook is undoubtedly more optimistic. For the medium and long term, I think there is no need to invest in public and private equity funds. It is better to choose good companies and hold them patiently to wait for the rise, so as to avoid the stupid bomb like Huaruan New Power. In terms of direction selection, if the inflection point of China-US relations easing and the US Federal Reserve raising interest rates comes, then the white horses and new energy that have been experiencing continuous outflow of foreign capital and plummeted in the past two years can be paid attention to.