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text | xiao tian

in "the wolf of wall street" starring leonardo dicaprio, the film focuses on stock trading broker jordan belfort to see how he made a huge profit of 1,200 in just three minutes through the stock market. thousand dollar story.

in an almost crazy way, the movie vents the desire for life while tearing apart the greed of human nature. from starting a business with nothing to making a fortune every month, everyone hopes to be the "wolf of wall street".

now, dreams have become reality, and similar temptations are taking place in the a-share market.

since september 24th, a-shares have experienced five consecutive trading days of sharp rises. especially on september 30th, the mobile phones of stock investors were ablaze, trying to find stocks that fell in the rising market. it has become difficult.

according to wind data, the total market value of a-shares jumped from 74.98 trillion yuan to 84.86 trillion yuan in just a few days, which is equivalent to an increase in market value of approximately 10 trillion yuan. if it is divided equally among each investor, each person will earn almost 47,000 yuan.

in this wave of gains, there are many investors who have made huge profits. many people have posted about their positions, and many have made profits of over 500,000 yuan in half a day, and even more than one million yuan in a single day.

for the middle class who are unwinding or about to unwind, when they are out of the "balance sheet" and expected to be out of the "balance sheet", how will they choose to celebrate the holiday this national day?

1. some people sell stocks to buy houses, while others sell houses and run into the market.

the old joke about whether to buy stocks or houses is starting to circulate again——

a group of people sold their houses and prepared to enter the stock market. another group of people have just cashed out from the stock market and are preparing to buy a house. the two groups of people passed each other, glanced at each other, and involuntarily sneered "idiot" in their hearts.

the real scene is that both groups of people have appeared recently.

ms. zhou (pseudonym) just made some money in the few trading days before the national day. as soon as she cashed out part of it, she was ready to replace her family with a house. she didn't come from nowhere. as early as half a year ago, she started to wait and see, until the current round of property market policies emerged and she felt it was time to take action.

"eggs cannot be put in one basket at the same time. we have been looking at houses for a long time. i was very hesitant to choose between them before. recently, i fell in love with a pretty good house and have been negotiating with the sales staff for 'discounts'. after the policy came out, , the salesman said that if you don’t buy it, it will be ordered by someone else. then i think about it and just buy it.”

ms. zhou's physical sensation was correct.

at the end of september, major property market policies were introduced one after another across the country, with a clear idea: to promote the real estate market to stop falling and stabilize.

guangzhou, shenzhen, shanghai and other cities have further optimized real estate market policies, relaxed restrictions on home purchase, and lowered the threshold for home purchase. guangzhou has completely canceled purchase restrictions, and some areas in shenzhen have also lifted purchase restrictions.

under the policy dividends, the capital market has been advancing all the way, and real estate stocks are also at the forefront.

it’s easy to understand why real estate is rising so fast. the 924 new deal lowered down payments for second homes and lowered mortgage interest rates. the previous politburo meeting clearly stated that it would help the real estate market stop falling and stabilize. they are all key industries supported by policies, and real estate will naturally respond.

although ms. zhou’s decision to buy a house is based on the current bullish market situation in the stock market, it also represents the mentality of another group of people who buy houses:

under the fiscal stimulus policy, the future economic situation may move out of deflation and move toward inflation. from the perspective of asset preservation, property prices are not only likely to stop falling in the short term, but are also more likely to rise.

but more people are thinking in the long term. as the economic momentum switches, the capital market has the task of creating a new round of wealth effects.

mr. li (pseudonym) believes that the wealth effect was once an important factor driving my country's consumption and even economic growth. although before 2019, our country's economy had experienced a long period of rapid development. however, the per capita income level is not high. in 2023, my country's per capita gdp will be us$12,700. less than half what japan was in 1990.

with per capita income levels limited, the financial effects brought about by real estate appreciation are an important support for domestic consumption and economic growth.

in the past many years, the central bank's release of water through real estate has also been able to effectively stimulate the economy, but now this artery is no longer easy to use. after real estate has been a currency reservoir for two decades, urbanization and aging have begun, and real estate has lost the basis for nationwide general growth.

he said that even if real estate prices are likely to rise in the short term, they are far less than the benefits brought by this wealth effect. this national day, instead of traveling with his wife and children as in previous years, he stayed at home and prepared to sell 2 of the 5 houses in his hands.

the pain of missing out is 10,000 times worse than being trapped. mr. li, like many others, does not want to miss this opportunity.

ms. zhou also admitted that among her friends, there are also people who have postponed their plans to buy a house and invested the prepared down payment in the stock market. “my friend said that he did not have high requirements and would be satisfied if the down payment became the full amount. but i think he the requirements are already very high.”

2. some people make millions and then regret selling "too quickly", while some people decide never to do it again after getting rid of the trap.

on the last trading day before the holiday, mr. sun (pseudonym) looked at the computer at his workstation and had no intention of working.

as soon as the stock market opened that day, he set a price, which was a price that was 30% higher than the previous day's closing price. around ten o'clock, my phone received a pop-up window indicating that the transaction was successful.

this means that the stock he bought for 59 yuan/share was sold at 70 yuan/share, and he made a small profit of hundreds of thousands on this order.

mr. sun entered the market 5 years ago and has been in and out of the market several times during this period. as of april this year, he had lost 500,000 yuan and left the market in frustration. three months later, he entered the market again and bought two military stocks. unexpectedly, the 1.8 million yuan in his account was quickly reduced to only 1.17 million yuan.

in the past few years of stock trading, mr. sun has lost a total of 1.47 million in the stock market. this time when the market turned bullish, he was determined to make a good turnaround.

but what he didn't expect was that during the bear market, his heart would rise and fall like a roller coaster. in the bull market, his mood was still the same.

during the initial uptrend on september 23, i saw many stock traders on the snowball posting daily gains of more than 5 points, compared to their own stocks that were still showing no improvement. he suffered from this for two days.

but soon, he realized, “the volume was too large. as the transaction volume increases, everyone’s life will be better, and it will definitely be my turn.”

with this confidence, he began to adjust positions, sold other stocks, and placed a heavy position in a new stock that was listed on the same day on september 26. because there were no price limits on the price of registered new stocks in the first five days of listing, he decided to take a gamble.

sure enough, the stock rose by 500,000 the next day. this was the first time since he started trading stocks that he had seen a stock rise so much in one day, and it was also the biggest profit in his memory. mr. sun was planning in his mind, "this time we must get our money back!" so in the next few trading days, we kept selling. in just 3 days, i made 1 million.

what he didn't expect was that on the afternoon after he closed all his positions, the stock price was still on an upward curve. the stock has risen to 280 yuan per share, which is equivalent to a 4.5-fold increase in a single day and a 9-fold increase in three days.

he was very excited, "i have never seen such a market, and i thought it was a very good record at the time." now he also regrets it very much, "maybe if i sell it later, i can get back the money before this holiday."

those who have made money want to continue making money, but those who have got out of their trap are planning to travel to the maldives to relax and never touch a-shares again after returning.

mr. wu (pseudonym) was led into stock trading by his wife.

originally, his income was pretty good. he could afford the large expenses of family life with his own salary. the couple could save more than 200,000 yuan every year.

but then my wife became obsessed with stock trading and indulged in short-term operations of selling high and buying low every day. as a result, she became more and more addicted. at the beginning, she was lucky and made 150,000 yuan. later, she took 1 million yuan to trade and lost more than half of it in three years. his wife also quit her job and spent all day immersed in various k-line charts and stock trading groups. mr. wu felt that his wife's emotional fluctuations gradually synchronized with the stock market conditions.

in his description, "every time i come home, the moment i walk in, i can tell by looking at her eyes whether she has made a loss or a profit today. she goes to bed at more than 2 o'clock every night, saying that she is too worried to sleep, and she obviously doesn't need her to make money at home. he has a lot of money, but he refuses to listen and still borrows money to speculate in stocks.”

however, these doubts and repressed emotions slowly changed as the stock market rebounded. in september, starting from the 24th, the blood recovery exceeded 100,000 for several days, and now it is close to the return line.

he and his wife discussed that after this wave of market conditions resolved, the two of them would "wash their hands in a golden basin". for four years, they lived every day as if they were in a dream, and they were already exhausted both physically and mentally. take advantage of this national day to make up for the honeymoon trip to the maldives that was delayed a few years ago, and experience all the snorkeling, sea fishing, seaplane and other projects that you have been dreaming about.

3. both "old leeks" and "new leeks" want to taste the sweetness of the stock market

a master of private retail investors, he is a self-taught "stock god". in the past, there were "uncles from shanghai" who gathered on guangdong road to discuss a-shares. later, there was "grandma, the stock god" from beijing who has tens of thousands of fans. she claims to have successfully predicted that china's stock market will explode on the internet many times.

in this bullish market, new and old investors are gathering in a-shares under the same temptation.

xiao ding's (pseudonym) grandfather was originally traveling in gansu during the peak season. seeing the boom in the stock market before the national day, he insisted on buying a ticket to come back. fortunately, she calmed down after she said she would help him with online operations.

the 70-year-old grandfather still uses the old method to trade stocks. he watches the news and listens to the radio all day long, and records every stock he likes.

“600438tongwei co., ltd.0.38”“603392wantai biotechnology0.44", such words have been written densely on the notepad for more than half, recording the corresponding distribution plan of individual stocks.

lao ding (pseudonym) firmly believes that the things he memorized are related to each other, including stock codes, stock names, and rising and falling conditions. some stocks are also listed separately, which ones are central enterprises and which are private enterprises, and which stock may be affected by the latest news.

in xiao ding’s description, lao ding sees that the market is getting better now. when he goes on a trip, he does not forget to observe the market conditions. he says that after making money, he will set up a small vegetable garden on the roof, and then open a teahouse. if nothing happens, he will invite old friends to play cards together. nagging.

when screenshots of earnings that were difficult to distinguish from fake were widely circulated on the internet, many people lamented how they had not survived. but profits from people around you have a more direct stimulating effect.

xiao li (pseudonym), a post-2005 college student who just entered the school, saw that his roommate made more than a thousand yuan in one month, so he immediately followed suit and opened an account. as a result, he didn't even understand basic trading knowledge, so he traded in stocks with a pirated copy of "quantitative analysis" learn as you go.

as a freshman and a novice on the stock market, he must remain in awe of the financial market. this was the first lesson he learned from the study materials.

in practice, he followed a step-by-step approach - spreading the funds as much as possible to cover multiple sectors; holdings were also spread out, basically only buying one lot of each stock; when buying, he favored hot spots that were similar to some of the strategies in the book. share.

when the market came, he also "drank the soup" with the sharp rise in a-shares. among all self-selected stocks, some stocks directly jumped short and opened high, and some stocks directly closed the "one-line board" at the daily limit, rising very firmly. in those days, there were gradually more voices talking about stock trading around xiao li. the sports students in the school and the chefs in the third cafeteria were all talking about whether they could enter the market.

however, he believes that many people around him have no knowledge of stock trading, have not understood the capital threshold of the gem, and do not know the requirements for opening an account and trading, so they are eager to open an account.

in contrast, he has only been in a-shares for a month, and his mentality is already close to that of a "veteran". for example, before the holiday, he only sold some of the stocks that were not sealed with a "one-word board" and continued to hold the others. just from this operation, i made more than 1,500 yuan.

the stock market is a "zero-sum game". some people are deeply stuck, some make a lot of money, and some sell out with hatred; some people step on the wrong market cycle, "when you buy it, it goes down, and when you sell it, it goes up" and miss out on wealth.

"stock god grandma" liu jingxin likes to watch the tv series "flowers" repeatedly because the plot very realistically restores the ups and downs of shanghai's "stock market situation" in the 1990s. her favorite character is uncle ye, who can "turn a hand into clouds and turn a hand into rain" in the capital market.

in her opinion, "the charm of the stock market is that it has no certainty and the water is quite deep. it can cultivate and exercise people. it is a comprehensive examination and exercise of a person's ability, wisdom, and humanity."

"would you advise young people to trade in stocks?" faced with questions from the outside world, "grandma the stock god" responded earnestly: "if you have never experienced stock trading, your life will be in vain."