After finishing the trading activities for the day, Lu Ming left the trading room, deciding not to return until closing time. Apart from being the fund manager of Tiansheng Pioneer Mix, he also serves as the head of Tiansheng Capital, giving him other responsibilities that require his attention. Tea time in the trading room is not something he can afford.
In his office, Lu Ming opened the market software, entered Anshi Group's trading code, and checked its share price. It stood at 14.28 yuan per share, with a total market value of about 225.6 billion. Despite being a high-quality white horse stock, Lu Ming believes its true value is at least 70 yuan.
Anshi Group, an outstanding enterprise, has faced an undervaluation for the past two to three years. Despite its steady development, its stock price has continuously deviated from the company's fundamentals, maintaining a downward trend for three consecutive years. In September of the previous year, it even reached a low of 10 yuan per share.
Checking the discussion area for Anshi Shares, filled with retail investors, Lu Ming found their buying logic simple. Anshi Group is an excellent company with a low valuation, making it an attractive buy for many. However, the discrepancy between its performance and stock price has led to speculation that the main players are reluctant to let the stock rise due to the influx of retail investors.
"I'm ready to take a big bite of this meat," Lu Ming mumbled to himself, closing the market software after a brief inspection.
...
As the market closed, the Shanghai Stock Exchange rose 1.55% to close at 3,502.85 points, reaching a new high. The airport shipping and port shipping sectors were top gainers, surging by 7.37% and 4.58% respectively, setting off a rising tide.
Those who bought Tiansheng Pioneer Mixed Fund saw a -0.76% decrease in its net worth today. Two groups of investors, those unaware of the truth and Lu Ming's fan base, hold this mixed fund. The former, unintentional investors, left comments and departed after witnessing indescribable benefits. The latter, especially the early followers of "stunning deer," remained unfazed, understanding that the current net worth estimate is meaningless due to recent adjustments.
However, unknown to them, even the latest positions wouldn't be of much use. Lu Ming is likely to adjust positions again, rendering the next update inaccurate for two trading days, and the subsequent update wouldn't be until June 30th.
The platform's net worth estimation reference is meaningless for Tiansheng Pioneer Mixing.
A passerby named Ji Min, ignorant of the truth, clicked in accidentally and found the comments in the discussion area strange. New comments were debating whether the increase was 5 points, 7 points, or 6 points today. Perplexed, Ji Min considered the bullish comments as part of a smear campaign and left.
...
As evening approached, investors who subscribed the day before eagerly checked Tiansheng Pioneer Mixed to see if the net worth had been updated. At around 9:20, the net worth was updated: 1.2108 yuan (+12.97%).
The comment section erupted.
"Why is it rising so much?"
"Do you want to be so cruel?"
"Up nearly 13 points?"
"What did brother one buy?"
"Jesu has become a T, or there is a stock exchange. Old fans from Taoba know how cruel Yi Ge is in being a T."
"No, I just adjusted the position yesterday and adjusted it again today? After that, there is still a reference value of P for this net worth estimate?"
"There is no need to look at the net worth estimation reference in the future, it is meaningless."
"The organization is doing ultra-short one-day tours within a day, and the suffocating operation is absolutely amazing!"
"What kind of fund should I go to? Why is there such a big gap in net worth? Is the increase too exaggerated?"
"One brother, always drop God!"
"Understood, dry stud, the warehouse is always full, and the blood is always crazy!"
"This chicken seems to be going to be a demon. It can only be bought but not sold. Whenever it is bought, it will be at a relatively low price, and whenever it is sold, it will be sold flying."
"Increase the warehouse and increase the warehouse!"
The net worth update prompted a frenzy of purchases, primarily from Lu Ming's die-hard fans. Jimin, unfamiliar with the situation, refrained from buying after witnessing the exaggerated increase.
...
On Wednesday, March 18, the funds subscribed the previous day entered Tiansheng Pioneer Hybrid Fund's depository bank, bringing today's subscription scale to 319 million yuan. The fund's capital reached a whopping 637 million.
After the morning call auction results, Lu Ming immediately issued orders to buy the commissioned purchases. He filled the purchase funds from the previous day, buying two major northern and southern automotive companies—Zhongguo CSR and Zhongguo CNR. Additionally, he invested in TCL, Jinke Co., Ltd., Zhongguo Zhong Tie, and Zhongguo Railway Construction. Simultaneously, Jingdongfang A's position was topped up to 60 million, maintaining the proportion of the top seven heavyweight stocks at 70% of the total position.
At the opening of the continuous bidding stage, Lu Ming executed a strategic move by selling all the stocks he purchased the previous day at their highs. This maneuver allowed him to engage in another round of one-day institutional tours. The funds obtained from these sales were redirected towards purchasing other targets in the subsequent session, filling the position to reach 95%, marking either a full or short position in Lu Ming's strategy.
With 19 targets in total, Lu Ming had to adjust his approach due to the expanding capital market. He reduced the proportion of individual stocks, balancing the pursuit of yield with the need to exit quickly if necessary. Although he dealt with smaller tickets, most of them were in the range of 10 million to 20 million, ensuring a turnover of more than 500 million for ease of selling.
If it were Lu Ming's personal funds, he would have directly invested heavily in the two "magic cars" in the north and south with a turnover of tens of billions at any time. However, constraints within the fund limited individual stock positions to 10% of total assets, which posed challenges to handling larger investments.
...
By around 9:30 in the evening, the net worth of Tiansheng Pioneer Mixed Fund was updated. The day's net worth was 1.3515 yuan (+11.62%), continuing Lu Ming's streak of remarkable performance.
Investors who subscribed to Tiansheng Vanguard Hybrid Fund were exhilarated. Experiencing such an exaggerated rise in a fund, surpassing even individual stocks, and achieving consecutive intraday increases of over 10% for four trading days within a week, the cumulative increase within that week reached an astonishing 70.03%.
The birth of the "Enchanted Girl" was hailed by investors. Jimin and other investors engaged in discussions, propelling the popularity and appeal of Tiansheng Pioneer Mixed to new heights.
...