Chapter 14 Chapter 14 "Borrowing the dead" and investment trichotomy

In "Besieging Wei and Rescuing Zhao", we have already introduced to readers that due to the unpredictable risks of the stock market, it is safer for stock investors to adopt the strategy of "stock diversification", that is, to buy multiple stocks to form a stock group, so that the total risk can be reduced accordingly.However, this method will also fail in some specific environments.For example: In October 1987, a black storm rose from the ground in all major stock markets in the West. U.S. stock investors lost $560 billion in one day; in late December 1990, my country’s Shenzhen stock market also experienced a downturn. In a similar stock market crash, almost every listed stock could not be spared.For this kind of risk, the countermeasure of "stock diversification" is obviously powerless.At this moment, the correct countermeasure is to use "third voice."

In the western financial circles, there is often a saying of "rule of thirds", that is, the rational use of assets in three ways: bank deposits, securities and real estate.Americans mostly follow the "rule of thirds" in the use of personal assets. In terms of securities investment, "veterans" in the general securities market often use the rule of thirds to utilize funds.This is the so-called "investment rule of thirds", and its content is: use part of the funds to buy bonds or preferred stocks with high safety; use another part of the funds to invest in growth stocks with good performance, and use the remaining part of the funds as A reserve or provision for maneuver.

Investing in securities or other businesses is all about making profits, and at the same time, there are risks to a certain extent.Therefore, before investing in securities, you must make sufficient psychological preparations. You don't have to complain about losses, and you don't have to be happy when you encounter profits.The purpose of the "investment rule of thirds" to be mentioned here is to make profits while reducing the risk of losses. This is of course the unanimous wish of stock operators.In my country, besides purchasing stocks, individual residents invest in various forms such as savings, insurance, treasury bills, government bonds, financial bonds, and corporate bonds.Because in socialist countries, the law fully guarantees the interests of individual residents, so there is no risk of not being able to collect the principal and interest of savings, treasury bills, and government bonds when they mature. These investment methods are the safest.At present, financial institutions engaged in insurance business and issuing financial bonds are all state-owned enterprises. Therefore, investing in insurance and financial bonds is also very safe. Only investing in stocks and corporate bonds has certain risks, and the risk of stocks is greater than that of corporate bonds. .Because of the above reasons, the best choice is to invest your own funds in these possible assets.Especially national bonds, because they have the highest credit rating, such as treasury bonds, financial bonds, local bonds, etc. are all reputable bonds, and ordinary investors, especially women, have some safe and reliable bonds at hand and have considerable income. At the end of 1990, the issuance of airport bonds in Shenzhen was a sensation. Although the starting price of the bonds was 800 yuan and the purchase limit was 10,000 yuan, people still queued up to buy them. The annual interest rate was 41%, far exceeding the bank deposit interest rate.During the same period, the Shenzhen stock market was in a "weak" state, and the stock price continued to fall, which had a lot to do with the impact of the airport bond.The reason why bonds are favored by people is that they have considerable returns and a large insurance factor, and the guarantor is Shenzhen Investment Management Company.

Growth stocks are also the object of investors' scrambling to buy them. This kind of stock has a future, not only has a good dividend, but sometimes its market price will rise unexpectedly. Therefore, growth stocks are the darlings in the stock markets of various places, such as Shenzhen Development Bank. A stock with a face value of only 1 yuan rose to a market price of nearly 80 yuan per share in early December 1990, which is a good example.However, when the market price of a growth stock rises too high, its growth will disappear, and its earnings will appear insignificant compared with the market price, and then it will become an unacceptable stock.

Use a part of the funds as a reserve fund to wait for the best opportunity, and win by surprise with its mobility and flexible investment.This part of the reserve fund can support yourself when you suffer losses, and it is an indispensable bargaining chip for "making money" in the future. The ratio of the various parts of the "rule of thirds" investment generally varies from person to person and from time to time.If your investment level is measured over 10 years, you can invest 70% of your assets in stocks, 15% in bonds, and the remaining 15% in Treasury bills or money market funds.On the contrary, a retired investor who relies on investment income may want to use stocks to offset the potential impact of inflation, but cannot easily take risks. He may invest 20% to 30% of his assets in stocks and 30% in currencies market or T-bills, with the rest in high-quality intermediate-term bonds.Long-term investing outcomes depend largely on how much risk an investor is willing to take.When an appropriate risk level is determined, the proportion of investment object diversification should be selected appropriately.

The rule of thirds in investment tells people that they must not put all their eggs in one basket "because of greed", so that "the whole army is wiped out", and the risk should be reduced to an acceptable range.If you do follow this method, then if you do encounter a stock market crash in the future, you will not have to panic.Because the "rule of thirds" will allow you to preserve your strength, and when the time is right, you can use this part of the saved funds to make a comeback, and your losses will soon be made up.In the art of war, this is called "borrowing a dead body to return the soul."

"Borrowing the corpse to return the soul" is the second strategy in the third set of strategies in "Thirty-Six Strategies": "If you are useful, don't borrow it; if you can't use it, ask for it. Borrow what you can't use and use it. The bandit asks for childishness, childishness." Please me." Means: What has the ability to do, is difficult to control and use.Those who do not have the ability to act and stand on their own will often have to rely on others to establish themselves and need help from outsiders.Use this opportunity to control him.Not by him, but by me.

"Borrowing the corpse to return the soul" is a metaphor for something that has perished, and it means to rely on or use some kind of power to make a comeback.The new power relied on is "borrowing corpses", and a comeback is "resurrection".In military strategy, it refers to: be good at using all available things, change the situation of war, and change from passive to active.For example, you can take advantage of the opportunity to send troops to aid others, and take the opportunity to control or occupy his territory. At the end of the Eastern Han Dynasty, Liu Bei and Sun Quan joined forces and defeated Cao Jun in the Battle of Chibi, thus gaining a firm foothold in Jingzhou.However, due to successive years of wars in Jingzhou, the economy has been greatly affected, and the local land is barren, so it is not a base that can make great achievements.Liu Bei wanted to find another site for development.

At this time, in order to expand his strength, Cao Cao sent troops to attack Zhang Lu who was guarding Hanzhong, shaking Hanzhong's neighbor Yizhou. Liu Zhang, the shepherd of Yizhou, was very frightened, for fear that Cao Cao would destroy Zhang Lu and attack Yizhou again.The counselor Zhang Song offered a plan and said: "Cao Cao is so powerful that we may not be able to resist it. Why don't we invite Liu Bei to enter Yizhou in the name of attacking Zhang Lu and fight against Cao together." Liu Zhang thought to himself: "Liu Bei and I are relatives of the Han family and have the same surname. Brother, Yi is Cao Cao's enemy, and he has a group of elite soldiers and strong generals, it would be best to invite him to join us in fighting Cao Cao." So he sent Fazheng to meet Liu Bei.

After Fazheng arrived in Jingzhou, Liu Bei treated him with courtesy.He said to Liu Bei: "Liu Zhang is a cowardly and incompetent mediocre person. He has no great promise. Many officials under him have two hearts. Yizhou is a place with fertile land and rich products. It is a good place for you to make contributions. Base, you should use this opportunity to send troops to capture Yizhou, and Zhang Song and I are willing to respond internally." Liu Bei was very happy, and immediately sent troops to Yizhou. After Liu Bei entered the army, in the name of crusade against Zhang Lu, he got a lot of supplies and soldiers from Liu Zhang, and his strength increased greatly.On the way, he did a lot of work to win the hearts of the people, so that the people in Yizhou praised him, only knowing that there was Liu Bei, but not Liu Zhang.As soon as Liu Bei saw that the opportunity was favorable, he arrested the guard of Baishuiguan in the name of returning to Jingzhou, and marched towards Chengdu based on Baishuiguan.After two years of war, Liu Bei finally captured the rich and prosperous Yizhou, gained the strength to compete with Cao Cao and Sun Cha, and the three kingdoms came into being.Liu Zhang had no choice but to admit that he was unlucky and died of old age at the police in Nanjun, Jingzhou.

The law of "borrowing a corpse to return the soul" means "borrowing a corpse", and the meaning is "returning the soul".In the name of aiding Liu Zhang, attacking Zhang Lu, and rejuvenating the Han Dynasty, Liu Bei aimed to capture Yizhou.On the ever-changing battlefield, there are no generals who are always victorious, and failures are common.And a smart general, no matter what the situation is, can calmly analyze and judge the situation, and then he can find the "corpse" that can be borrowed, use all opportunities and things, strive for the initiative, and turn defeat into victory.Similarly, an excellent stock market investor, no matter what kind of adversity he is in, can also find a good strategy to transfer risks and preserve strength. The "rule of thirds" is their common technique. In recent years, in the south of my country, there has been a man of great influence in the stock market, known as "Yang Wanwan".He is now not only a "stock market celebrity" and "news figure" in Shanghai and Shenzhen, but also a world-class news figure on Wall Street's financial industry "Boss Circle" newspaper.The US "Wall Street Journal" published two interviews about him in two months, calling him "Yang who became a millionaire"; a TV station in Taiwan also spent a few days filming a feature film about him. This "Yang", who was called "China's millionaire" by Wall Street's "Financial Times" and later overseas media, used to be a warehouse manager in a factory in Shanghai. Ma traveled north and south, went deep into the rural areas and mountainous areas of Anhui, first purchased by himself, and later hired someone to purchase on his behalf, established two fixed points, took advantage of the regional and time differences, and earned a monthly income of tens of thousands of yuan.He subscribed to 26 kinds of economic newspapers and periodicals. It is said that in one month, as many as 10 million securities flowed into Shanghai through his hands, which made him quickly become a celebrity and news figure in Shanghai's financial circle.After entering the 1990s, as the state strengthened the management of the securities market, he turned his target to the stock market in time.According to only a few big ins and outs that are "documented", his stock trading income in 1991 was more than 500,000 yuan. What is even more striking is that his behavior was exaggerated and attracted attention. The front of his business card reads: Shanghai civilian stock and securities professional investor Yang Huaiding, the back is: I am committed to the development of China's stock and securities business, and I am willing to be a paving stone.I learn the courage of the crab eaters, carry out personal venture capital investment, use technical operations to obtain a large amount of capital, benefit and increase value, and make friends with comrades, etc. Such a unique figure naturally became the focus of people's attention in the wave of the stock market. On August 12, 1992, the Shanghai stock market crashed. On that day, the business hall of Haitong Securities Co., Ltd. was crowded with people, men and women, old and young, all looking forward to a common direction - the electronic stock market quotes.The faces of almost all shareholders are gloomy.With the frequent flickering of the electronic quotation, the crowd let out sighs one after another from time to time.At this time, the "Shanghai Composite Index" has dropped from 844.83 the previous day to about 718, the "leading big stock" secondary defense machine stock has dropped from 154 yuan at the opening of the day to 110 yuan, and Yanzhong stock has also dropped from 128 yuan to 80 yuan. Electric vacuum fell the worst. Yesterday's closing price was still 1,502 yuan, but now some people are willing to sell it at 900 yuan.At this moment, on the counters of various securities agencies in the city, the entrusted selling orders are already thick enough to be thick.Panicked stockholders were frightened, and "throwing" became the strongest voice in Shanghai this summer. At this time, the well-known Yang Wanwan in Shanghai was sitting on the big sofa in the front row of the large household room of CCB, filling out the entrustment purchase form leisurely and contentedly.Clearly, he wasn't hurt at all by the fall.His employee Guo Jian explained for him: "Shanghai stock prices cannot fall indefinitely, and now is the most punctual time to buy stocks." At this moment, Yang Wanwan also said something intriguing: " When you are in the stock market, you should use the three-point method to invest no matter what, and you must not put all your eggs in one basket! Those investors who are eager to jump mostly make the mistake of putting all their eggs in one basket. If you have reserve funds on hand, it is now a low price It is the most timely time to reduce investment costs." It turned out that the secret to making Yang Wanwan overcome difficulties calmly was the "rule of thirds" of "borrowing corpses and quickening souls!"