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

Chapter 25 There is no fairness in this world

Faced with the persuasion, Zhang Yang simply smiled and said what was on his mind: "Life is always about trying new things. Besides, the status of a recent graduate is only valid for one year. If things really don't work out, we can always pull back from the brink."

According to the Securities Law and the Measures for the Administration of Securities Practitioners, securities practitioners are prohibited from trading stocks for personal purposes during their employment.

If you have already resigned, there is a quiet period of 6 months to 2 years during which you are not allowed to participate in any capital market investment in China.

Why is the management so strict?
This is because fund managers and other securities professionals often have access to insider information about the market in advance through their positions.

Using insider information to trade stocks is like having the ability to predict lottery results.

For example, suppose you learn about a policy in advance through a securities company, such as the China Securities Regulatory Commission (CSRC) halving the stamp duty. The stock market will almost certainly rise, even if the increase is not significant. The news alone will definitely drive the stock market up.

If fund managers were allowed to trade stocks personally, you could easily put 10 million yuan into the stock beforehand, and even if it only rises by 1%, the profit would be 1000 yuan. That's how terrifying insider trading can be.

Many men and women at the bottom of the financial industry have sacrificed their sexuality to obtain inside information. It is no exaggeration to say that the financial industry is more extravagant and has no bottom line than the entertainment industry.

Zhang Yang completely disregarded Tao Yuang's promise of an internship.

He is not a greenhorn, but a fund manager with decades of investment experience and a reputation on Wall Street.

Internships in the financial sector are essentially three months of free labor.

Those who truly remain are either those who sell their bodies or those from wealthy families; this has become an unspoken rule in the industry.

Breaking free from the constraints of the workplace and going it alone is what Zhang Yang truly desires.

……

Listening to Zhang Yang open up, Wang Xingbang also thought it made sense. Young people should go out and explore. He then sat down and said, "Since that's the case, I won't say any more. You two talk."

He's been there, and he knows that young people are often hot-blooded and won't turn back until they hit a wall.

When Wang Xingbang was young, he also felt that he could make a name for himself in the United States, so he insisted on staying on Wall Street despite his family's advice.

But as he encountered more things, he gradually realized the gap between himself and others.

It's not a difference in ability, but a difference in social status and background.

Because he was yellow-skinned, and in the United States during the 1960s and 70s, the status of Chinese Americans was even lower than that of Black Americans, he was unable to get promoted for a long time and remained on the margins of financial institutions.

The most outrageous thing is that his female boss, who was about to retire, invited him to a hotel for an all-night talk. He couldn't refuse, but if he went, he couldn't forget the old woman's smell for a month.

After enduring various trials and tribulations, Wang Xingbang, having lost his ambition, chose to return to China and eventually entered the education system, becoming a professor of investment.

Tao Yuang glanced at the time on his Rolex watch, then looked at Zhang Yang and said, "Since you have your own ideas, Junior Brother Zhang Yang, I respect your choice."

"correct."

Before Zhang Yang could speak, he suddenly changed the subject, saying, "I heard that you're selling market research reports to other students in the investment department, Zhang Yang. Is that true?"

"real."

Zhang Yang did not deny it; he had already guessed the other party's general intentions.

"Impressive, impressive. A top student's brain is truly amazing. Back when I was in college, I never even considered making market research reports to earn money," Tao Yuang continued, praising Zhang Yang without reservation.

"It's just a small-scale operation, nothing compared to Senior Brother Tao Yuang's resume." Zhang Yang responded modestly, while throwing the question back at Tao Yuang, leaving the latter feeling awkward.

As the saying goes, don't hit someone with a smiling face.

Tao Yuang had intended to use sweet words to numb Zhang Yang, and then gradually guide him to temporarily give up selling the market research report, but the other party seemed not to give him that opportunity.

no way.

Now we can only give up.

"Cough cough."

Tao Yuang coughed twice and said, "It's like this, Junior Brother Zhang Yang, I actually have another favor to ask of you this time. As you know, the 'Huaxin Simulated Trading Competition' is a graduation test. As the internal recommender of Huaxin Securities to Shanghai University of Finance and Economics, I am already taking on the risk."

"Could you perhaps suspend the sale of market research reports for now? I'll make up for any losses incurred during this period. I don't mean anything by it; I just want to maintain the fairness of the competition."

When Tao Yuang revealed his true purpose, Zhang Yang was already prepared.

He smiled calmly, seizing on a loophole in the other person's words, and said, "Senior Brother Tao Yuang, do you think my market research report undermined the fairness of the competition?"

"That's what it means."

Tao Yuang nodded slightly and said, "Your market research report is too detailed. Even the analysts at Huaxin Securities praised it. It is indeed not conducive to our judgment of the true ability level of this year's students."

He continued to flaunt his wealth and influence. If it were an ordinary student facing such a candy offensive, they would generally give him face.

But Zhang Yang shook his head and said, "Market research reports are just a compilation of publicly available data; the actual operation still depends on individual ability."

"Even though Buffett is a subscriber to Best Insurance and Life Insurance Market Research Report, it's not like other subscribers can become a globally recognized stock market guru like Buffett. Don't you agree, Senior Brother Tao Yuang?"

"..."

Zhang Yang's words created a tense atmosphere in the office, and everyone fell silent.

Zhang Yang is now clearly saying that he will not stop selling market research reports.

Sitting to the side, Wang Xingbang chuckled inwardly. He understood the deeper meaning behind Zhang Yang's words; they were a mockery of Tao Yuang.

If translated, it would be: "You're saying my market research reports undermine the fairness of the competition? Why don't you subscribe to 'Best Insurance & Life Insurance Market Research Reports' and see if you can become a stock market guru?"

Tao Yuang, in his early thirties, was still too young to appreciate the charm of the Chinese language, and continued to emphasize fairness:

"What you said does make some sense, but have you considered that your market research report might harm the interests of students who didn't buy it?"

"This is unfair."

"All I want to uphold is fairness!"

Zhang Yang looked directly at Tao Yuang and asked, "I would like to ask Senior Brother Tao Yuang, do you believe that there is such a thing as absolute fairness in this world?"

“Of course, birth, death, and time are fair to everyone. As for other things, we only need to be relatively fair,” Tao Yuang blurted out.

He also knew very well that there wasn't much fairness in this society.

But birth, death, and time are things that everyone will experience.

However, Zhang Yang shook his head and retorted, "Although everyone only has 24 hours a day, there is a world of difference between the 24 hours of a bricklayer and a white-collar elite."

“A bricklayer may spend 12 hours of his 24 hours working, while a white-collar elite will not work for more than 8 hours, and some even less. Invisibly, white-collar elites have 4 more hours of disposable time than bricklayers.”

"As for life and death, these are unavoidable events. Being born into a wealthy family versus being born into a poor family, dying at thirty versus dying at one hundred—where is the fairness in all of this?"

Zhang Yang paused for half a second, then continued, "Our investment studies program has two economics courses: one is called 'Macroeconomics,' and the other is called 'Microeconomics.' We can't just study macroeconomics and ignore microeconomics."

"Senior Tao Yuang, you said my market research report undermined the fairness of the competition. But have you ever considered how many students with limited access to information my market research report could help compared to students with broader information networks?"

Tao Yuang was completely stunned and speechless for a moment.

Even Professor Wang Xingbang, an old professor, fell silent at this moment, recalling his experiences on Wall Street.

fair?

There is indeed no fairness in this world.

So-called fairness is from a macro perspective. If we apply a micro perspective, nothing can be called fair.

Seeing that the other party did not respond for a long time, Zhang Yang added, "If my market research report can help students with limited access to information to get back on the same starting line as other students, wouldn't that be considered maintaining the fairness of the competition?"

(End of this chapter)