Becoming the King of Bottom Fishing After Going All-In on A-Shares

On September 17, 2008, the subprime mortgage crisis swept the globe, and everyone was bearish on the A-share market. Lu Chenzhou, the globally recognized "King of Bottom-Fishing" at Oaktree Capital, worked overtime until he died, and was transported back to 2008. He firmly believed in a bullish market, claiming that now was a golden opportunity to buy, and that buying now would guarantee profits—the perfect time to buy at the bottom. Everyone mocked him: "If you're so bullish, then buy! Don't just talk the talk." Lu Chenzhou: "Okay, I'll buy." The next day, he leveraged his entire portfolio and went all-in on bottom-fishing, making everyone think he was crazy. That evening, regulators announced a one-sided stamp duty levy, Huijin's increased holdings in the three major banks, and state-owned enterprises' increased share buybacks. The third day, the market almost hit its daily limit up; some said he had incredible luck. He continued buying bottom-fishing, starting with A-shares, then Hong Kong stocks, US stocks, Japanese stocks, and global capital markets. He bought stocks, companies, real estate, gold, oil, foreign exchange, and more. He rode the wave of opportunity, becoming the King of Bottom-Fishing.