Chapter 19 Once stepped into the stock market, did not take a cloud

For many ordinary investors, the stock market is the most common investment project. Many white-collar workers at work and wives who have nothing to do at home, no matter whether they are rich or not, as long as they have a few thousand dollars on hand, they all want to invest in the stock market. Try your luck. Even such "investors" with only a few thousand dollars want to realize their dream of "getting rich" through the stock market. How could Wenzhou people who have always pursued profits and loved profits miss such an investment opportunity?Especially during the bull market in the first half of 2007, many investors made a lot of money, and Wenzhou people were even more excited.More importantly, in 2010, the national property market policy continued to be adjusted, and the profits of the property market were not as good as when the "Wenzhou real estate speculators" first emerged in 2001. Some Wenzhou bosses withdrew their capital from the property market and invested in the stock market.

Therefore, in October 2010, the stock market, which had been silent for a long time, suddenly "lived": from the National Day to October 19, it broke through 2,800 points and 2,900 points in a row, and even reached 3,000 points at the close on October 19. The turnover on the same day was as high as 490 billion yuan! Many people are curious about the sudden boom in the stock market.An account manager of the Shenzhen Tairan Nine Road Sales Department of Guosen Securities declared to the outside world: "These extra funds may have been withdrawn from the property market and transferred to the stock market." The first reaction of most people is that the funds must come from Wenzhou Capital.

This suspicion is not without reason. The promulgation of the country's secondary control policies such as "purchase restrictions, loan restrictions, and foreign restrictions" has made Wenzhou people question the property market. The property market, which was previously unanimously optimistic, has become an investment project for them to wait and see.But not investing in the real estate market does not mean that the money is deposited in the bank and sleeps. This is not the style of Wenzhou people. It is entirely possible for Wenzhou capital to flow into the stock market. The most important thing is that the real estate market and the stock market are two different fields. Since Wenzhou Capital can test the waters in the real estate market, of course it is also possible to test the waters in the stock market.Therefore, if we go deep into the source of funds for the stock market in October, I think there must be between 10 billion and 20 billion Wenzhou capital entering.

However, based on my understanding of Wenzhou people, there will not be too much money invested in the stock market.I have done many surveys and calculated that Wenzhou's capital in the national property market is about 100 billion. In fact, the funds in the property market are less than 10%.That is to say, it is actually incorrect to say that Wenzhou Capital "turned" from the real estate market to the stock market.Moreover, since 2009, some conservative investors have indeed deposited their money in banks and have not invested in new projects for the time being. The balance of bank deposits in various banks in Wenzhou has reached 580 billion yuan, a record high for many years.

Facts have also proved my guess. Although Wenzhou Capital once entered the stock market on a large scale, it ended in failure. Newspapers across the country say that Wenzhou Capital has collapsed in the stock market everywhere.Therefore, I conclude that although the stock market is a venture capital project for all people, it is not a good project for Wenzhou people.It is far less profitable than PE (private equity investment), VC (venture investment), and industry. I believe that many Wenzhou bosses who have tested the water have sensed the risk of the stock market and have withdrawn their funds from the stock market in time. , looking for new investment projects.

The reason why I came to such a conclusion is because I know the bosses in Wenzhou very well. Although the stock market is an investment project with a great reputation, it has never been an investment project that Wenzhou people like, because the virtual nature of the stock market makes Wenzhou people very reluctant. sense of security. Wenzhou capital is the result of Wenzhou people's hard work step by step, and the result of Wenzhou people's years of operating the real economy.From lighters and buttons at the beginning to hydropower stations and coal later, the amount of investment only changes in size, but they are all visible and tangible real economies.

Wenzhou people at least feel at ease in operating these projects. These products are like children of Wenzhou people, because they can be seen, touched, and easy to control. Wenzhou people also have a focus when they are working hard.This kind of industry is like the children of Wenzhou people. Because of its visibility, it is easier to have high hopes. Wenzhou people also have real goals when they work hard.In this way, the real industry is slowly controlled and shrouded by the love of Wenzhou people. By extension, the real industry in a certain field in the whole country and the world is also controlled by Wenzhou people in this way.

With the efforts of Wenzhou people, the real industry has gradually developed and grown, and the reputation of Wenzhou people has spread along with the real industry.For example, Wenzhou is known by the world as the capital of Chinese locks, the capital of Chinese shoes, the capital of Chinese leather, the capital of plastic weaving in China, the capital of Chinese hardware and sanitary ware, the hometown of pumps and valves in China, the city of electric appliances in China, the city of gifts in China, and the base of women’s shoes in China, etc. Wait.These industries are the representatives of Wenzhou people, and they are the carrier of Wenzhou people's fame at home and abroad, and Wenzhou people are also proud of these industries.Even if one day Wenzhou's investment in all fields fails, at least it can still operate these visible gadgets and rely on the "label" praise given by people to stand up again.

On the contrary, who has ever heard of Wenzhou being praised as the "capital of stocks" and "hometown of stock markets"?Which place in the world is known as the "capital of stocks" and "hometown of stocks" because of its prosperity in the stock market?The virtual and global nature of stocks determines that it cannot become a "base" industry.Wenzhou people can't control it at all, they can't grasp it.To be more precise, Wenzhou people have no self-confidence in front of stocks - a thing that cannot be controlled and conquered, who will have self-confidence in front of it?

Stocks are not like a specific pair of shoes or clothes. As long as a batch is sold, Wenzhou people can clearly know how much money they have made.If you want to make a lot of money in the future, you need to limit the amount of investment costs, the price difference is calculated clearly, and the profit is also clear at a glance.Even though there may be some surprises and the estimated data may be biased, the overall profit can still be settled. Because the stock market does not have such predictable profits, it has never been valued by Wenzhou people. In 2010, Wenzhou Capital’s development of the stock market was just a mentality of giving it a try, or it was forced by the property market, but it was never the first choice for Wenzhou people to invest in.After some Wenzhou bosses tested the waters in the stock market, they immediately noticed the "declining" nature of the stock market, and quickly withdrew their funds to return to the property market or transfer to other real economies.

What's more, China's stock market is more like a gambling investment. China's existing policy on the stock market is another reason why Wenzhou people don't want to easily invest their funds in this field. The significance of the stock market is to allow social funds to flow into industries with investment value, and to exercise the function of social resource allocation.The starting point is good, but China's stock market, due to unequal information, various insider transactions, related transactions, and various capital thresholds, makes the stock market more like a "gambling market."When investors enter this industry, instead of using their own money to invest, it is better to use their own money to gamble, which loses the meaning of investment. Although the stock market is not exactly the same as pure luck like gambling, and some technical support is needed, there is probably only one Buffett who relies on technology to win the stock market investment in the world, and the rest cannot control the rules.Many Wenzhou bosses have seen through this point, so they are not interested in stock investment. When the stock market was relatively good in 2007, a friend suggested to a Wen businessman surnamed Guo to try investing in stocks, and told him that none of the people who invested in stocks in the first half of the year did not make money. Nevertheless, Mr. Guo still rejected this investment.He said: "It's not that I don't want to make this money, it's because I don't know much about this industry. I don't know what to do when I see those dense red lines and green line charts, and I can't imagine what it means. How can you make a correct decision if you can’t make a judgment?” This friend volunteered and expressed his willingness to teach him, but Mr. Guo still politely refused. The reason is simple: stocks are too difficult to understand, and he will not make such investments that he does not understand and cannot control. Although Wenzhou people are famous for their boldness and risk-taking when investing, it is also based on seeing huge profits. It is not surprising that Wenzhou people are not interested in investment projects with uncertain profits like the stock market. The third reason why Wenzhou people are not interested in the stock market is that the stock market is more like a money game, and the stock market is not like a "money makes money" project for them. Every investment of Wenzhou people is based on "huge profits". All other unrelated behaviors, such as following trends and fashion, are not the first choice for Wenzhou people to invest in projects.The stock market is still an emerging market in China. Many people may see that investing in the stock market does not require the hard work of the industrial economy, so they flock to the stock market one after another.Wenzhou people have not been brought in by this "new trend", because their belief is "making money", not "fashion". A Wenzhou boss who prefers to set up a small stall to do small business commented on the stock market: "To put it bluntly, stock trading is a money game, and it is the redistribution of money among shareholders. If this is the case, why should I invest my money in the stock market and distribute it to others?" What about people? Besides, China’s current laws on the stock market are not yet perfect. Stock trading is actually like buying a lottery ticket. It is difficult to make money. Although the bull market in 2007 made many stockholders a fortune, I would rather say it was a fluke. Many of my stock trading friends said that they lost all the money they made in the first half of the year in the second half of the year. If they are unlucky, they will simply be locked up and lose a lot of money! What do you think they are doing?" Although the words are biased, they are not without reason. Except in 2007, some Wenzhou people started investing in stocks due to the influence of the stock market situation, but the subsequent downturn in the stock market made Wenzhou people completely give up on the stock market.By 2008, according to the statistical results of the Wenzhou Securities and Futures Industry Association, the number of newly opened accounts in Wenzhou showed a clear monthly decline trend. In January, there were still nearly 5,000 accounts opened, but in March, the number of new accounts dropped sharply to 2553 households.People in Wenzhou prefer to deposit the funds that flow out of the stock market in the bank to earn meager interest, and no longer get involved in the stock market. Since Wenzhou people are not interested in the stock market, will their funds always be kept in the bank?This is also impossible.In fact, the fourth reason is involved here: Wenzhou Capital has better investment channels and better return on investment.Compared with these investment channels, the occasional profits from the stock market are not worth mentioning at all. So what are the better "investment channels and return on investment" for Wenzhou people?This goes back to an old-fashioned question. This topic is too big. It is exactly what people need to learn from Wenzhou people-at least the incident of investing in the stock market taught us that stock market investment is not popular mainly because of its risks. , but due to the uncertainty of its profits, the non-maximization of its profits.Because of these factors, no one is fully sure of making money, so it is not easy to "enter the water"!