…

January 25, 1990. fastest update

Xu Cun returned to Hong Kong from Japan with the daughters of Xixie Michiko, ready to welcome the upcoming New Year that spans into the 1990s.

Although Xu Cun's birthday is still a few months away, once this year is over, Xu Cun has already entered his thirties and has become a real adult.

It is said that in such an important year, Xu Cun should be more serious even if he does not hold a special case. But the fact is just the opposite. This year has been the most concise year for the Xu family in recent years. Not only did Xu Cun not take his family to Musha Island for a New Year holiday like in previous years, but he only stayed in Shi'ao Manor until the fifth day of the new year. , and then Xu Cun flew to Taipei with all the girls who were all right.

Now the Taiwanese economy has achieved an average high growth rate of 9% for 40 consecutive years. In addition to the increase in wealth reserves, private income has also increased significantly. People's wages and income have grown rapidly, and the bonuses at the end of the year are even more generous. One to two months of extra salary; workers in some ordinary industries can generally receive three more months of wages at the end of the year; in some monopoly industries, the amount of bonus at the end of the year is usually equivalent to seven to eight months of monthly wages; those industries that are rapidly expanding For example, the year-end bonus for employees of securities companies is as high as 70 months, or even 100 months of monthly salary.

At this stage, countless hot money poured into Taiwan, which made Taiwan’s per capita gdp break through US$10,000, resulting in the quadrupling of real estate in a short period of time, the rise of the service industry, the peak of car and house sales, and the beginning of tourism and tourism. Famous brands and boutiques have also become big performers in department stores. It can be said that the island is completely flooded with funds. The huge capital flow greedily seeks various investment opportunities, and the stock market has become the largest "reservoir". The index rose from more than 1,000 points to more than 12,000 points in a short period of time.

In the process of this surge, it can be said that the assets of the vast majority of the middle class have appreciated very well. The number of people who have opened accounts has skyrocketed from 50,000 to 60,000 to more than 6 million. Stock trading has become a typical movement of the whole people.

At this stage, if you really buy everything and earn money, it's like everyone is a Buffett. Therefore, during the whole process of skyrocketing, the life of the middle class is very good because the current stage is open at nine o'clock, and at twelve o'clock The market closes at 10:00, so the entire trading time is only half a day. The first thing those people who have made a fortune in the stock market after closing is to find a decent restaurant to have a hearty lunch, and then arrange various entertainment activities in the afternoon, including singing, dancing, shopping in department stores, etc. .

In the course of the three-year bull market in Taiwan stocks since the end of the 1987 stock market crash, it is no exaggeration to say that anyone who adopts a random stock selection strategy of "throwing darts" can achieve an average percentage of gains in the Taipei stock market. The monthly rate of return is 8.5, and some people who dare to use leverage can easily become the rich or even the super rich of tens of billions. To use a popular Hokkien dialect to describe it is Taiwan. Money floods the eyes.

However

This unprecedented bubble-like skyrocketing has already turned the Taipei stock market into a "casino" that does not generate real value. The stock market should have the function of rationally allocating resources. Not an investment.

Some companies that should have been delisted in other markets will immediately become market favorites after the Taipei stock market has been picked up by big dealers.

Some companies often have no actual assets, no income, or even employees, but as long as they are small caps and the chips are easy to control, the stock price will be fired up. For example, a stock called "Xinqi Wool Spinning" has no business It has improved, but the stock price has seen 22 limitless daily limits in a row. There is also a stock called "Easy Hang". Easy Hang is a listed company with only one broken ship. The initial stock price was only 1.67 cents. Later, it was hyped by the dealers all the way to nearly 200 yuan.

Contrary to the situation of junk stocks, the stocks of a few large companies with good fundamentals and leading international competitiveness in Taiwan are not favored by the market.

The skyrocketing pattern of blue chip stocks lagging behind junk stocks has pushed the Taipei stock market to the position of the world's least investment value stock market.

Now, the average price-earnings ratio of Taiwan stocks has reached 100 times, while the price-earnings ratio of other global markets in the same period is below 20 times.

Although the regulatory authorities in Taiwan have also begun to warn of the bubble crisis, investors who have already bet on the red eye are still fully optimistic.

...

Yangming Manor.

In Xu Cun's study.

He Chaoqiong said nervously: "Brother Cun, we have less than three billion dollars left in our ten billion dollars. Those Taiwan banks that provide us with leverage let us cover our positions, otherwise we will be forcibly cut flesh."

He Chaoqiong, who has made countless money with Xu Cun in the stock market, naturally believes in Xu Cun's judgment.

Moreover, not only Xu Cun judged that the Taiwan stock market would plummet, but even He Chaoqiong could see that the already deformed Taiwan stock market would definitely have a plummet.

But the question is ~lightnovelpub.net~ when is the time of the crash?

Since they entered the Taipei stock market to sell short three months ago, they have lost 70% so far, and they have to thank them for not being able to get a large leverage in Taiwan, otherwise they would have been out of the game.

It is not difficult to see from this that even if you can see the general trend of the stock market, you may not necessarily be able to win money.

Xu Cun took He Chaoqiong's hand, dragged her into his arms, and said with a smile, "Why, are you afraid?"

He Chaoqiong put his arms around Xu Cun's waist, then put his head in Xu Cun's arms, and said softly, "Well... Taiwan people are so crazy, I'm really afraid that they will push the index to more than 15,000 as they said, in that case, Even if we invest another 20 billion dollars in it, we will all be ground up by this meat grinder!"

Xu Cun slowly put his hand into He Chaoqiong's clothes and said with a smile, "Markets always sprout in despair, advance in dubiousness, and disillusion in joy."

After tasting what Xu Cun said seemed to be very philosophical, He Chaoqiong looked up at Xu Cun's eyes. He Chaoqiong wanted Xu Cun to explain to her the specific meaning of this sentence at present.

But after raising his eyes, He Chaoqiong saw the heat in Xu Cun's eyes!

He Chaoqiong, who had been with Xu Cun for more than ten years, was so familiar with this kind of heat that Xu Cun didn't need to say anything. Save the belt...

"His..."

After He Chaoqiong buried his head between Xu Cun's legs, Xu Cun sighed: "Go back and let Xiao Ai mobilize another ten billion dollars to cover the short position, and then continue to sell short... I really underestimated the Taipei stock market before. potential……"

...

(To be continued. If you like this work, you are welcome to come to the starting point () to vote for recommendation and monthly tickets. Your support is my biggest motivation. Mobile users, please go to m. to read.)rw