The Growth of the Richest Man

Chapter 85: Digging Treasure Admit Defeat

Unlike Zhang Yong, who knew that this time the bull market was really over, Ma Yun thought that it was just a normal stock market correction and that the bull market would continue. He had already bought stocks with high positions.

On October 23, Tuesday, the stock market rebounded strongly that day. Ma Yun’s Tianhong Fund yielded as high as 1.5%, while Zhang Yong’s Renren Fund only had a pitiful 0.05%!

On October 24th, Wednesday, the stock market continued to strengthen strongly that day. Ma Yun’s Tianhong Fund yielded as high as 1.2%, while Zhang Yong’s Renren Fund immediately went green and became -0.02%!

People are hesitant, is it better to buy Zhang Yong’s Renren Fund than Ma Yun’s Tianhong Fund? Some of the more aggressive investors have even begun to redeem Renren Fund and consider buying Tianhong Fund.

However, on October 25th, the Black Thursday market came unexpectedly. On that day, the Shanghai Composite Index plummeted by nearly 300 points, while Ma Yun’s Tianhong Fund fell -5.2% in a single day, erasing all the gains of the previous two days. It directly opened the road to loss, and Zhang Yong’s Renren Fund, because it did not buy stocks, not only did not lose money, but in this market, bucked the trend and gained a certain rate of return, with a gain of 0.12% on the day!

On Friday, October 26th, the stock market was highly volatile. Individuals can make money by selling high and buying low in this market, but for institutions and funds, the volume of funds is too large to be able to do so. After doing so, Ma Yun’s Tianhong Fund also performed mediocre, not too beautiful. And Zhang Yong’s Renren Fund has good stability every day, and it will not have too exaggerated performance.

Overall, the performance of the two funds in the first week, Zhang Yong’s Renren Fund, made 0.21% of the money for investors, while Ma Yun’s Tianhong Fund lost -2.2% of the money for investors. The performance of One Week Renren Fund is generally better than that of Tianhong Fund, but Ma Yun’s investors are not very worried, because except for the accident on Black Thursday, Zhang Yong’s fund has no Ma Yun in the other three trading days. The fund has a high rate of return.

From October 29th to November 2nd, the two funds faced each other in the second week. Because the stock market was in a rebound stage this week, Ma Yun’s Tianhong Fund earned 3.0% of the money for investors, not only making up for the above. Weekly losses, there are certain positive gains. And Zhang Yong’s Renren Fund continues to live like a fish belly, with a little steady income every day. In a week, the rate of return is only about 0.35%.

In two weeks, many “smart” investors thought that they had discovered a difference between the two funds, that is, as a stock fund, Ma Yun’s Tianhong Fund has high yield and high risk, but given the current “Bull market” thinking, they think, they can still make big money. As a mixed investment fund, Renren Fund has lower yields and lower risks. Although the returns are stable, even on weekends, it can get a certain amount of returns, but because it is still a “bull market”, it is also a problem to miss the bull market. This is a crime, so they would rather give it a shot in the riskier Tianhong Fund.

However, there are also many investors who pursue stable income and choose to stay in Renren Fund. After all, every day they see the money in their accounts rising.

But in the third week from November 5 to November 9, “smart” investors were slapped in the face one after another. This week, the Shanghai Composite Index plummeted -8%, and Ma Yun’s Tianhong Fund plummeted even more. -10%! For a week, Ma Yun’s investors have been greatly hurt both physically and mentally! And Zhang Yong’s Renren Fund, the rate of return is still 0.33%, which has not been greatly affected by market fluctuations.

In the fourth week, the Shanghai Composite Index went out of the trend of first decline and then rising. After a whole week, the index rose by 0.01%, but Ma Yun’s Tianhong Fund fell slightly -0.05%, and Zhang Yong’s Renren Fund was still positive. Compared with the 0.41% yield, it is completely incomparable.

In the fifth week, the Shanghai Composite Index went bad, down -5.34%. Ma Yun’s Tianhong Fund fell slightly, reaching -4.8%, while Renren Fund continued to be extremely strong, gaining a weekly return of 0.37%.

In the sixth week, the Shanghai Composite Index continued to plummet, down -3.19%. Tianhong Fund also fell sharply, down as much as -3.5%, while Renren Fund continued to rise, up 0.34%

Since late October, the showdown between Ma Yun and Zhang Yong has been going on for more than a month. In addition to the first two weeks, Tianhong Fund was still able to compete with Renren Fund. In the following four weeks, Tianhong Fund experienced a weekly decline for four consecutive weeks, while Renren Fund has been in the market for six consecutive weeks. progressively profitable. Although from a single day, Tianhong Fund also has a lot of profitable days, but in the long run, Tianhong Fund is completely in a downward trend!

The two funds were almost listed on the same day, but at present, the net worth of Tianhong Fund is only 0.8325~www.readwn.com~ and the net worth of Renren Fund has risen to 1.0203. The meaning of the fund’s net value can be easily understood in this way, that is to say, if you deposit 10,000 yuan on the first day of the fund’s listing, by now, those who buy the Renren Fund will only have 8,325 yuan left. 1,675 yuan, and those who bought the Renren Fund still have 10,203 yuan left, making 203 yuan. Although this does not make much money, no matter how small the mosquito is, it is still meat. Compared with the nearly 1,000 yuan that Ma Yun lost, this one in and one out is close to 2,000 yuan.

The eyes of the masses are sharp, especially when it comes to money.

In the first two weeks, both Renren Fund and Tianhong Fund were in a state of net purchases. By the end of the two weeks, Renren Fund and Tianhong Fund had each exceeded the 10 billion yuan mark. However, in the four weeks after entering November, Tianhong Fund continued to decline, especially after the Shanghai Composite Index fell for many times. Stock analysts such as Li Xiao and Hong Darong said that Tianhong Fund has now entered a “technical bear market”. It is already in a state of complete net outflow, and the size of the fund has dropped to less than 3 billion yuan. And Zhang Yong’s Renren Fund, the current fund size has exceeded 20 billion yuan.

In fact, the fund scale of Renren Fund can be larger, but Zhang Yong, in order to prevent the scale of Renren Fund from being too large, will cause too much influence on the trend of the futures market and make himself a dead long or dead short, so he has already Let Wang Xing set a limited sale of 500 million yuan a day on the trading day and a limited sale of 2.5 billion yuan a week. Because there were too many people who subscribed, Zhang Yong asked Wang Xing to set the allocation according to the balance of Yu’e Bao. In order to obtain a higher allocation quota, Yu’e Bao is also hot now.

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