At 8:30, Lu Ming left his office and went to the company's internal conference room to preside over today's morning meeting. Li Mingyang, Qi Wei and others were also present.
"2638 at the end of last month should be the bottom of history. At this point, there is no way to fall, but to rise. After a month of continuous sell-off, the risk has basically been released. It's time to enter the market in a big way." Lu Ming Looking around at the crowd, he said.
Li Mingyang and others couldn't help but be invigorated when they heard it. BOSS's opening remarks were very direct.
Regarding his judgment, the participants present did not say that they were convinced that the change of BOSS somersaults was still very authoritative.
There's no way, BOSS's accurate judgment on the direction of the capital market is terrible. At the beginning of the year, he was bearish. As a result, it crashed for a month. The market was hit from more than 3,600 points to more than 2,600 points. Not to mention the great record.
"The main line of February is just one word: buy! Buy, buy, buy!" Lu Ming glanced at Li Mingyang, then looked around at several other fund managers and added: "It is recommended that the funds you manage can reach full positions."
Several fund managers who manage passive index funds nodded.
Lu Ming looked at Li Mingyang again and said: "Tiansheng's mixed value growth portfolio and positions will need to undergo major adjustments. The current capital market has reached 37.8 billion, holding 24.5 billion coins, and the position is at the top 95%. With such a large amount of funds, the secondary market is too slow to sweep and go through the channel of bulk transactions."
Having said that, Lu Ming opened the folder he brought, and then added: "Haitian An's Five Houses, these five tickets are full."
When everyone heard it, they found that BOSS was really obsessed with these five tickets. It seems that the reduction of positions in December was just a big T. The market stabilized and finally arranged clearly.
Core assets are core assets.
These five full positions account for 50% of Tiansheng's value growth.
Lu Ming continued: "The remaining positions are allocated to 9% of Haikang Weishi, 8% of Zhaoshang Bank, 7.63% of Shandong Gold, 7.3% of Yili, 3.3% of Hengrui Medicine, 2.2% of Longji, and Yiwei Lithium. Neng 2%, Xiamen Tungsten Industry 1.7%, Ganfeng Lithium Industry 1.5%, Huayou Cobalt Industry 0.92%, Tianchi Materials 0.85%, Beifang Huachuang 0.6%, a total of 17 targets, accounting for 95% of the total. The position is full. The adjustment starts today, the increase of the position should be increased, the decrease of the position should be reduced, and the closed position should be closed."
Li Mingyang made all the memo notes and nodded in response: "Understood!"
Tiansheng Value Growth Mixed Up to now, 30% of the stock positions hold more than 40 targets, more than half of which are miscellaneous. To put it bluntly, Lu Ming has been doing ultra-short arbitrage during this period of time. The whole month of January was through short-term speculative arbitrage. In order to make money, the main thing is to control the retracement.
If you only reduce the position and don't engage in speculation, 30% of the stock positions will crash for one month, and the retracement will have to be fifteen or six points.
Among the top ten holdings of Tiansheng's mixed value growth after the adjustment, Biyadi and Zhong Guoping were liquidated, and the positions were liquidated directly.
It's not that these two targets are not good. In the five-year long-term cycle, it must be a big bull stock. Even the vote of Ping An has tripled in five years after the resumption of rights.
Biyadi is also a big bull stock that has increased fivefold in the next five years. However, this year, the overall crotch has fallen. In 2016, it has dropped by about -22%. Naturally, Lu Ming will not take the order knowing that it has fallen sharply. , kill almost and then go back hard.
Lu Ming's value investment is not about holding on, but also doing T, but he will not do daily T, but quarterly or even yearly big T, and he will do trend trading.
Similar to the big bear market in 2018, when the white horse stocks had to be cut in half, it was natural to avoid it and become a super big T at the annual level.
As a patient with obsessive-compulsive disorder, what Lu Ming pursues is that the net value curve of Tiansheng Value Hybrid Fund follows an ascending channel approximately 45% angle and crosses the bulls and bears. The amplitude of the channel range is controlled at about 15%, which is the maximum career retracement control. Around 15%.
It was almost nine o'clock in the morning, and the morning meeting was over. Li Mingyang and other fund managers were all ready to open positions and buy them, but Qi Wei stayed. He is in charge of the overseas born global pioneer Hybrid QDII Fund and Tiansheng QDIE Fund. first executor.
The two foreign trading funds Lu Ming also put his name on it, but he would not watch the night trading, which is basically what Qi Wei has been doing.