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

Chapter 124 Earning 4.36 Million a Day

At 4:00 PM sharp, the closing bell rang.

The Hang Seng Index closed at 14450 points, down 2.6%.

Galaxy Entertainment closed at HK$1.00, up 69.49%, with an intraday low of HK$0.53 and a high of HK$1.00, representing a volatility of 88.7%.

SJM Holdings closed at HK$1.74, up 25.18%, with an intraday low of HK$1.35 and a high of HK$1.75.

China National Building Material closed at HK$3.74, down 8.56%, with an intraday low of HK$3.70.

Anhui Conch Cement closed at HK$26.80, down 7.11%, with an intraday low of HK$26.60.

Lu Chenzhou brought up the holdings interface.

Holding stock: China National Building Material (HK3323)

持股数量：11250万股成交均价：1.60港元收盘价：3.74港元持仓市值：42075.00万港元当日盈亏：—2925.00万港元（—6.50%）

Unrealized profit/loss: +24075.00 million HKD (+133.75%)

Holding 12.47% of the total H-share capital, triggering a disclosure requirement, with a six-month lock-up period. Target stock: Conch Cement (HK0914)

持股数量：2132.63万股成交均价：18.50港元收盘价：26.80港元持仓市值：57154.48万港元当日盈亏：—2879.05万港元（—4.80%）

Unrealized profit/loss: +17694.48 million HKD (+44.85%)

Holding approximately 4.93% of the total H-share capital, and not triggering a disclosure requirement for this holding: Galaxy Entertainment (HK0027)

持股数量：94500万股成交均价：0.70港元收盘价：1.00港元持仓市值：94500.00万港元当日盈亏：+38745.00万港元（+69.49%）

Unrealized profit/loss: +28350.00 million HKD (+42.86%)

Holding approximately 24.01% of the total H-share capital, triggering a disclosure requirement, with a six-month lock-up period. Target company: SJM Holdings (HK0880)

持股数量：27500万股成交均价：1.275港元收盘价：1.74港元持仓市值：47850.00万港元当日盈亏：+10725.00万港元（+28.89%）

Unrealized profit/loss: +12787.50 million HKD (+36.47%)

Holding 4.99% of the total H-share capital.

合计持仓总市值：42075.00+57154.48+94500.00+47850.00=241579.48万港元帐上现金：约10.64亿港元总资产：347979.48万港元当日总盈亏：+43665.95万港元（+14.35%）

Total unrealized profit/loss: HK$82906.98 (+31.26%)

Xia Yaozong stared at the numbers on the screen, speechless for a long time.

Zhang Yixing leaned back in his chair and let out a long sigh: "Galaxy Entertainment rose 69% in one day, and SJM Holdings rose 25%. Building materials and Conch Cement fell, but Galaxy Entertainment and SJM Holdings completely offset each other, making a profit of 4.36 million in one day."

"Galaxy Entertainment's stock price went from 0.53 to 1.00. Who's buying it?" Xia Yaozong asked.

Lu Chenzhou picked up his water glass and took a sip: "I don't know, but people are buying it, and buying it very aggressively."

"Aren't you going to check it out?"

"No need. It's his business if he buys it, and it's my business if I keep it. Anyway, I can't sell it."

After the market closed, the Hong Kong Stock Exchange's disclosure website posted several disclosure announcements regarding interests.

德意志银行于11月5日以每股均价0.65港元增持银河娱乐1.2亿股，持股比例由4.2%升至5.1%。

HSBC Holdings increased its stake by 8000 million shares at an average price of HK$0.64 per share, raising its holdings to 4.8%.

JPMorgan Chase increased its stake by 6000 million shares at an average price of HK$0.66 per share, raising its ownership to 3.5%.

Three institutions collectively purchased 2.6 million shares within two days, spending approximately HK$1.7 million.

Xia Yaozong was the first to react, asking with a strange expression, "Weren't they issuing a short-selling report the day before yesterday?"

Yang Cheng closed the book: "What you say and what you do are two different things."

Lu Chenzhou picked up his water glass, took a sip, and said nothing.

He wasn't surprised that these three institutions bought in; in fact, he felt it was quite normal.

It would be really abnormal if they didn't buy it.

In Goldman Sachs Asia's trading room, Cheng Jiajun placed the data on Wei Zhexuan's desk.

"Deutsche Bank, HSBC, and JPMorgan Chase just released their short-selling reports the day before yesterday, and they entered the market today."

Wei Zhexuan glanced at it: "It's not contradictory. The report is for others to see."

In Morgan Stanley's trading room, Richard Gray's assistant was asking the same question.

"Boss, we were still bearish on the market the day before yesterday."

Gray picked up his coffee: "Some people are shorting in order to go long, while others are genuinely bearish. The difference is that they bought, and we didn't."

In Tiger Asia's trading room, Bill Hwang turned off the screen.

"Selling on the dip while buying on the upside, it's an old trick."

He paused for a moment: "At 0.53, someone was taking over, 8000 million shares, a day earlier than Deutsche Bank. That person was the one who really calculated it correctly."

Lu Chenzhou closed his laptop, stood up, and walked out.

Yang Cheng asked, "Aren't you going to investigate the person who bought it at 0.53?"

"No need, he can earn his money, I'll take mine."

In the hallway, Wen Zhiyu caught up: "Aren't you afraid he'll sabotage the deal?"

"He only has 8000 million shares, while I have 9.45 million shares. If he dumps them, I'll take the hit."

News of Galaxy Entertainment's 69% surge and SJM Holdings' 25% rise spread like wildfire across various stock forums and QQ groups.

But the first reaction wasn't cheers, it was curses.

On Baidu Tieba, a post was featured on the homepage.

The title is only six words: "Fuck your mother's organization."

The main post contained a screenshot of a transaction.

The screenshot shows that the poster sold 200 million shares of Galaxy Entertainment at HK$0.53 at 9:35 a.m. today, for a total transaction amount of HK$106 million.

Less than half an hour after the sale, Galaxy Entertainment's stock price began to rise.

0.60、0.70、0.80、0.90、1.00。收盘1.00。

If he hadn't sold, those 200 million shares would have been worth HK$200 million at today's closing price.

But he sold it for 106 million. In one day, he lost 94.

The number of replies to the post is increasing every second.

"Brother, you're not alone. I sold 50 shares at 0.55."

"I sold 30 shares at 0.52."

"I sold at 0.50, 1.00 million shares. I'm worse off than you guys. I bought at 0.63 yesterday and sold at 0.50 today, losing 20%. Then it went up to 100. I fucking want to die."

"At least you guys held on until today. I cut my losses yesterday at 0.53. After I cut my losses yesterday, it rose to 1.00 today. In two days, I lost 47%."

"I bought it at 0.72 last Friday, didn't sell at 0.53 yesterday, and sold at 0.60 today. After I sold, it went up to 1.00. I'm so frustrated."

"Don't even mention it. Today in the trading hall, I saw an old man who sold 500 million shares at 0.55. After he sold, he squatted on the ground and cried. The staff went to help him up, but he pushed them away. He got up on his own and left without saying a word."

"If I were him, I wouldn't say anything either. What would I say? Call myself an idiot?"

"Brother, you're not alone. I've had mine cut too."

"I also sold at 0.53, I'm in a worse situation than you, I bought 200 million shares."

"200 million shares? Sold at 0.53? Then you lost 38?"

"Um.

""

"

"...Holy shit."

"Stop talking, I'm going to the rooftop."

"Calm down. Money can be earned back, but if you lose your life, you lose everything."

"I didn't want to go to the rooftop, I just felt heartbroken. 38 yuan, that's three years' salary for me."

"I didn't earn this much in five years."

"Therefore, retail investors always lose money. Institutions buy at 0.65, and retail investors sell at 0.53. When institutions are bearish, retail investors follow suit and sell. When institutions are bullish, retail investors dare not buy. Once the institutions drive the price up, retail investors rush in, and then the institutions unload their shares, and the cycle repeats itself."

"What should we do then?"

"There's not much you can do, just accept your fate. Or learn from Leverage Bro. Look carefully before you bet. Don't bet if you don't look carefully."

"I saw it clearly, I saw it drop, so I sold it, and then it went up."

"You see the past clearly, not the future; Leverage Bro sees the future clearly."

That really hurts.

"Leveraged traders and institutional investors are making a killing, while we're suffering losses. Is there any justice in this market?"

"The market doesn't follow any laws; it only talks about winning and losing. You lose, he wins. That's the way things are."

"Does that mean retail investors can't win?"

"Yes. But you have to learn not to cut your losses first. People who cut their losses at 0.53 are not being cut by institutions, they are being cut by themselves."

"You make it sound so easy. Try going all in and seeing your portfolio drop by 30%. Would you cut your losses?"

"I won't cut my losses because I calculated it before I bought it. If I calculated it, I'm not afraid. If I'm not afraid, I won't cut my losses."

"What have you ever considered?"

"I've calculated its value. When it was 0.53, was it worth 0.53? No. So I didn't sell. When it rose to 1.00, was it worth 1.00? Yes. So I didn't sell. I'll sell when it's no longer worth it."

"Then when is it not worth it?"

"I don't know, but Leverage Bro knows. When he sells, I sell."

"...So you're just following the trend too."

"I'm not following the trend; I'm following a person, someone who has calculated things clearly."

"By the way, have you guys subscribed to Leverage Bro's mutual fund yet?"

"Do you even need to ask? I subscribed yesterday, and the money should be in the fund company's account tomorrow, so Leverage Bro can buy stocks."

"So, did you choose QDII funds or A-shares for your mutual funds?"

"Huh? It was split? I didn't see it, it seems like I chose Fund No. 1."

"Fund No. 1 invests in A-shares, and Fund No. 2 invests in QDII overseas funds. You're in trouble."

"Let it be A-shares! There must be a reason why Leverage Bro dares to invest in A-shares, and I believe him."

There was a lot of discussion online, while Lu Chenzhou, Wen Zhiyu, Xia Yaozong, Zhang Yixing, and Yang Cheng, led by school leaders, arrived at the 18th floor of the Cultural Building.

The elevator doors opened, and the entire floor was brightly lit.

Twenty workstations were neatly arranged, and the standby lights on the Dell monitors blinked.

The conference room has a long table that can seat twenty people, and an 86-inch screen displays the message: "Welcome Zhizhou Capital to the Renmin University Cultural and Technological Park."

The refrigerator in the break room was stocked with bottled water, and a pen holder and sticky notes were placed on the desk in the south office.

You can move in with just your bags, and once you're here, you can start working.

Xia Yaozong stood frozen at the door, Zhang Yixing squatted down to touch the carpet, and Wen Zhiyu opened a drawer to check for dust, but there was nothing there.

Yang Cheng stood at the very back, motionless, as if he had known all along.

Director Zheng smiled and gestured for everyone to come inside.

"This..." Xia Yaozong turned to look at Director Zheng, "The school has really gone all out."

Director Zheng smiled but didn't reply.

He knew that the main character in today's negotiations was not himself, but the person walking at the very back, General Manager Meng of Renmin University Asset Management Company.

Mr. Meng, in his early fifties, with short hair, wore a dark red scarf and held a printed framework agreement in his hand.

President Meng spoke up: "President Lu, you've seen the building and the terms. Everything the school can offer is laid out on the table. It's an 18th-floor apartment, fully furnished and equipped. The first year's rent is 50% off, and there's a one-month rent-free period."

We've reserved the best locations for you on the official website and in the lobby on the first floor.

She paused, then handed over the framework agreement: "But the school also has one condition."

Lu Chenzhou took it, opened it, and found only one page with a few points listed:

Renmin University-run Enterprises Entrusted Financial Management Framework Intended Entrusting Parties: Renmin University-run Industrial Group, Logistics Group, Publishing House, Printing Plant, etc. Initial Entrustment Amount: A total of RMB 10 million Entrustment Method: Enterprises' own funds, in the form of purchasing fund products or special account financial management Entrustment Term: No less than one year for the first phase Subsequent Arrangements: If the first phase performs well, the entrusting parties may make additional investments, with a total scale of no less than RMB 30 million. After reviewing it, Lu Chenzhou asked, "How many enterprises pooled together this RMB 10 million?"

President Meng said, "The school-run industrial group will contribute 400 million yuan, the logistics group 300 million yuan, the publishing house 200 million yuan, and the printing plant 100 million yuan. All of these are the companies' own funds, and the president's office has already approved them in principle."

Are there any requirements regarding where the funds are invested?

"Stability is the priority; we cannot allow losses to affect the normal operation of these companies."

Lu Chenzhou nodded and handed the framework agreement to Wen Zhiyu.

Wen Zhiyu took it and quickly scanned it: "President Meng, what are the additional triggering conditions?"

"Both parties will negotiate, but the school will have an internal benchmark: the annualized return should not be less than two percentage points lower than that of bank wealth management products of the same period, and the maximum drawdown should not exceed 5%."

"Understood." Wen Zhiyu wrote the terms down on her phone.

Xia Yaozong interjected, "President Meng, should this 1000 million be used to directly subscribe to our fund, or should it be opened in a separate account?"

"A dedicated account, with independent accounting, independent risk control, and independent disclosure; the school must submit quarterly reports."

After listening, Lu Chenzhou took out a pen from his coat pocket, signed the framework agreement, and handed it back.

"Mr. Meng, the fund will begin operations tomorrow."

Mr. Meng smiled as he accepted the agreement, glanced at the signature, and put it into his briefcase.

But she showed no sign of leaving; instead, she pulled out another piece of paper from under her scarf.

The folded A4 paper is thinner, as if it were torn from a document.

"Don't worry about the money. Several heads of school-run enterprises are downstairs right now. They've signed contracts and can transfer the money immediately."

However, there is one more thing that is not written into the formal agreement.

She handed the paper to Lu Chenzhou.

Lu Chenzhou took it, unfolded it, and there were only three lines on it:

Industry-Education Integration Cooperation Intent (Gentleman's Agreement)

ZhiZhou Capital provides no fewer than 8 internship positions for Renmin University students each year, with an internship period of no less than 4 weeks, which can be arranged during winter and summer vacations or during the semester.

The science park prioritizes recommending Zhizhou Capital in its student recruitment and job placement efforts.

Both parties will jointly host no less than one industry sharing session or entrepreneurship salon each year.

"The school has given you so much, this small request isn't unreasonable, is it?"

Lu Chenzhou looked at it for two seconds and then handed the paper to Wen Zhiyu.

"Are there any requirements regarding the majors of the interns?" Wen Zhiyu asked.

"No, finance, economics, law, journalism, human resources—whatever major you need, the school will recommend students in that major. Students must be in the top 30% of their class, have passed the CET-6 (College English Test Band 6), and be proficient in basic office software."

President Meng paused for a moment: "When do you want the first batch?"

Wen Zhiyu looked at Lu Chenzhou.

"Tomorrow, we'll start with 10 people, either third-year or fourth-year undergraduates or second- or third-year graduate students, who can do full-time internships. The salary will be 20% higher than the industry average."

"7

Mr. Meng nodded, hesitated for a moment, then leaned closer and whispered, "I have a niece who just returned to China. She has a bachelor's degree from Renmin University, a master's degree from Yale, and a doctorate from Harvard. She also has internship experience at Goldman Sachs and BlackRock. What do you think?"

Lu Chenzhou looked at her with suspicion: "With this education and experience, why didn't you go to a top-tier institution, but instead came to my little temple?"

President Meng coughed twice: "Her father has retired, and people forget about him now. With the financial crisis, it's hard to find a job, and a good job is even harder to find. President Lu, please help me out."

Lu Chenzhou was silent for a moment: "Okay, come and try it tomorrow."

Mr. Meng said happily, "Great, I'll contact her when I get back, and also have the Career Guidance Center send out a notice."

Xia Yaozong muttered to himself, "Ten interns, and one of them's a troublemaker. Who's going to mentor them?"

"You take it," Lu Chenzhou said.

"On what grounds?"

"Because you have the most free time."

Zhang Yixing laughed out loud, Yang Cheng's lips twitched, and Wen Zhiyu pursed her lips, it was hard to tell if it counted as a laugh.

President Meng also smiled, a restrained smile, but there was something more in his eyes.

"Let's go, there are still some heads of school-run enterprises waiting downstairs."

",