At the end of May this year, a few buddies invited Lao Feng to have a drink, we were colleagues in the new city branch (state-owned banks). He was one of the first business leaders who defected to the city’s “city business banks” in the early years. I heard that a few days ago, he was removed from the position of a branch president, applied for transfer away from the original bank unsuccessfully, and became an ordinary employee of the unit. As the old saying goes, “a cat with a will is more than a tiger, a phoenix with fallen hair is not as good as a chicken”, it is not a good feeling to listen to the orders of the original subordinates.
I have not seen Feng and about a year, this meeting, obviously feel always high-minded and proud of his spirit is depressed, thin bones. A few glasses of wine, we from the north and south of the sky, gradually turn to persuasion and comfort up old Feng to.
I think persuasion is an art, people always use social comparison to self-evaluation, selling misery may make him feel better.
“At least you have been the head of the line for a few years, even if the salary alone can save a large amount of silver,” I said: “Even if you can not rise again in the future, for the children’s education is enough, how also better than those of us who only get three or four thousand a month, do not know how long it will take to get ahead of the people. “
Old Feng long sigh: “You really which pot not to mention which pot. I have not been the head of the line for a few years, not a penny of salary to take home, nearly a million have filled the pit of stock speculation, sorry wife and children ah.”
I was very surprised to hear that in the past two years, I heard that Feng lost a lot of money in stock speculation, but never thought it would hurt so much.
I myself began to speculate in the second year of work, so far a full 12 years, during which experienced the size of the bull market, but also survived a long bear. I believe that “retail investors speculate in stocks to earn, two flat, seven losses of the statement”, I did not lose money all by luck. There are many friends around who have lost more than half of their capital, but I have never heard of anyone speculating in stocks like in a casino, losing everything. After all, the stock decline is calculated by percentage, down again, there is always a limit, and even if the retreat, theoretically in the old market can also be bought and sold, how can lose no money left? Not to mention the first half of his life in the financial circle of the old Feng, how can lose more than the layman? Several friends in the room, are not convinced.
The old Feng is drinking red face, force the glass to the table a cemetery, open the box, began to tell his speculation career in the twists and turns of the “pit” experience to.
The following is Lao Feng’s own account.
1
The company’s main business is to provide a wide range of products and services to the market.
The stock market from bear to bull, we do the bank is always more foresight than other industry people. According to experience, the bank’s distribution of equity funds no one asked for, in order to complete the sales task to the staff spread, is often the signal of the bottom of the bear market.
In late 2006, colleagues’ complaints about buying funds out of their own pockets gradually subsided as they generally found that the numbers in their fund accounts kept going up, doubling in a few months’ time. At that time, the market experienced a steady rise of two years from the “diamond bottom” of 998 points in 2005, many numb stockholders did not realize that the big market was coming, until 2007 in the “Beijing Olympics” and “RMB appreciation The majority of ignorant stockholders were fully convinced that they were in the midst of a decade-long bull market until 2007, when the broad market index was rocketing like a rocket launch, fueled by the “Beijing Olympics” and “RMB appreciation”. At that time to kill the stock market people whether veterans or rookies on no money.
In the “pick up money” effect of the contagion, not to mention the financial mouth of the people, I seem to be surrounded by people from all walks of life have joined the army of stock speculation, even if you take the bus and go to the market to buy food can hear the sound of talking about stocks and gold.
At that time, I was still working as an accounting supervisor, and business supervision was not as strict as it is now, so I had plenty of spare time to keep an eye on the market, except for authorizing and checking subpoenas. There were three stock company staff stationed in the lobby of the branch, and three computers lined up, pulsating with dazzling red and green numbers, attracting not only depositors to look around, but also bank employees who would take the time to skillfully tap out a string of numbers on a small keyboard and carefully check the trend of stock positions.
At that time, more than 20 employees of our branch, in addition to me, all speculate in stocks, I look at the cleaning lady can speculate in stocks to make money, I was impressed – as a financial practitioner from the class, I will not be able to earn a solid pot full?
In this mindset, I cautiously invested more than 30,000 funds, ready to earn some pocket money. After buying two stocks following the trend of the old stock market, I immediately tasted the sweetness – a small-cap stock up and down, less than two weeks to 30% profit, another large-cap stock steadily climbing, also earned close to 10%.
Just a few knocks on the computer keyboard, it earned six or seven thousand, almost equivalent to a month’s salary, I first tasted the comfort of lying down to make money.
2
In the context of the bull market, there is no need to worry about losing money, I began to speculate on stocks as a means of financial management to beat inflation, at first I thought it was better than the interest on deposits, and then look at a stock that has doubled several times, the desire to make a lot of money was aroused.
At first I selected stocks are listening to the views of old stockholders, over time I found a strange phenomenon: others recommended to me 2 stocks, always I bought the one that rose small, did not buy a large increase. If two buy, and is a heavy position up less, light position up more. In the stock market there is a theory: the money should be earned did not earn, it is the same as lost.
Seeking people is better than seeking themselves, in order to master the secrets of speculation, I began to buy a large number of books on speculation know-how, a free time to soak in the Internet to read financial commentary and technical posts, after understanding some of the techniques of reading, they began to choose their own stocks. In just a month’s time, I bought strong industry leaders, fresh topics of hot stocks, and soon doubled more than 40,000 funds to more than 100,000.
I was so happy to see the money in the account from 5 figures to 6 figures, I was able to build up my confidence in the stock market, but also in front of colleagues and friends to talk about the general market trends and individual stocks, just like an expert.
As the profits on the account rolled more and more, my desire also expanded unconsciously, and I began to resent the slow pace of profit making. Judging from the overall economic situation, I felt that the bull market would last at least until the opening of the Beijing Olympics in 2008. This view was shared by a nationally known fund manager who proposed “10,000 points in the stock market” at a weekend financial seminar organized by the bank.
I was not a high salary, only more than 100,000 yuan of savings in hand, originally intended to save up for a while, to replace their own 03 blue Bora. But look at the market at least double the rate of increase, the money into the stock market for a while, upgrade to Mercedes-Benz, BMW is as easy as the palm of my hand, I was hot-headed and put into action – the hand of savings are invested in, speculative funds amounted to about 200,000, of which the principal has reached 130,000.
I did not expect, I have not been happy on two weeks, May 30, 2007, the market by the news of the stamp duty increase opened low, after a short attack of ten minutes began to fall sharply, the afternoon is all the way down, hit a decline of 281.81 points, down 6.5% of the historical record. Immediately after, the SSE index does not allow people to breathe, in just 5 trading days fell by more than 20%, the individual shares are down miserably, the history of the “530” plunge. I months of profits all back, 200,000 quickly shrunk to 120,000, but also a loss of principal 10,000 yuan.
The plunge made the stockholders panic, our branch of a position of more than 6 million yuan of funds “God of stocks” colleagues, long positions in shares even ate 3 stops, a loss of nearly 2 million yuan, anxious lips full of large blisters. Good in a sound of woe in the market rebounded strongly, and gradually found a steady upward rhythm. But after the big fall, I found that the broad market index although rising, their own positions in the stock is increasingly difficult to make money.
ICBC, Sinopec, these super-cap stocks began to soar, when people called it: “elephant dance”. Stock commentators and fund managers came out singing: “SSE breaking 10,000 points is not a dream”, “10,000 points is the starting point of the bull market” ……
On October 16, 2007, the market rushed to the heights of 6124 points, which became the Everest of the SSE. After that, the market index began to gradually go down, in November the listing of China National Petroleum and January 21, 2008 Ping An of China threw 160 billion refinancing program, became the last straw to crush the market. A shares evaporated 1.7 trillion a day, plunged 5.14% and 7.22% two days in a row, leaving two “broken guillotine” on the daily K-line chart. “This is a horrible situation that new stockholders who have only entered the stock market in recent years have not experienced.
The bear market suddenly descended, but at that time the vast majority of people held the view that the market is still a “fake fall” and belongs to the big bull market in the retracement. The “squatting is for jumping up and storing” and so on. I have not been spared, several times the bottom are copied in the halfway point. After carrying the bottom for half a year, at the end of 2008, not only did all the profits in my account evaporate, plus the bottom of 20,000, a total of 150,000 yuan of principal only a poor 20,000 yuan left. I was tightly bound by a thought: “before making so much did not throw, now lost so badly, how willing to sell it?”
3
“I do not know the true face of the mountain, only the edge of the mountain.” The scary thing about the bear market is that the tiny stockholders don’t realize they are in the midst of a giant bear stranglehold. Each rebound I think will rise for a while evolved into a reversal, not to mention that no matter how badly it fell, there are always demon stocks counter-trend rise, and even pull a few stops, as if the general market decline and it has nothing to do with the same, and constantly scampering upward, out of the completely inverse graphics to. So I firmly believe that with their knowledge and judgment is fully able to use the “God operation” in the bear market also earn money.
In 2009, I barely made back 60,000 yuan in a small rally, although I still lost more than 70,000 yuan, but also slightly relieved.
After 2010, I was transferred to the credit department as the person in charge, lending loans of the valuation income is quite rich, if from then on no longer dwell on the tens of thousands of dollars of losses, also not to mix to the point of deeper and deeper, can not extricate themselves. At that time, I think tens of thousands of dollars down the drain, the heart is always uncomfortable, like playing mahjong lost, few “pot of gold”, always calculating to get back.
In 2011, the general market out of the “up and down monkey market”, in this market, my losses rely on the usual means is impossible to return. Stock up and down range is generally set at 10%. Today a stop, tomorrow a stop, the retailer is losing money; today a stop, tomorrow a stop, the retailer is still losing money.
I study in favor of science, into the bank also love to study business, everything has a law well, I am ready to find a stable way to make money through observation. After some research, I found that large-cap stocks like Agricultural Bank of China every day is to go “electrocardiogram”, up or down in a couple of cents. I bought when down 2 cents, and sold when up 2 cents, operating for more than a month, an average of one trading day can earn 200 yuan. I began to be complacent about their own acumen up.
But this way to make money is too slow, how long will it take to pay back the capital ah? I soon concluded a new law – most of the new shares listed on the first day up a lot, the next day there is an upward inertia. Market downturn, the banker is also very difficult to make money. There is no hedge above the new stock, suitable for fast in and fast out, so the new stock has become the object of their speculation. I transferred 100,000 yuan, plus the previous 80,000 in hand, specializing in small-cap new stocks to start, the first day to buy, the second and third day to sell high. I was unlucky in every attempt to always get a taste of sweet. At that time, I did not want to work, aiming at the stock time line crazy upward, the blood seems to be rubbing the walls of the blood vessels, filled with the pleasure of the head. I followed the routine several times and mostly succeeded in making profits.
However, the good times did not last long, and after several times of licking blood from the knife’s head and taking chestnuts from the fire, suddenly I cut my tongue and burned my hand. I bought the first day of the new shares fell sharply, I cut the meat to sell and then raised the head strongly, after a few days of watching in the shadows, I saw not the slightest intention of pulling back, I chased the high kill, and the stock price fell in response! This is really evil, as if the banker is like a ghost standing behind my back, special trick me a person like.
This crazy behavior until June 2012, the parent bank sent me to Shanghai training, no time to keep an eye on the plate to have to put the brakes on. One day after the training, I went alone to the Huangpu River for a break, sitting on a bench in the park, wrapped in watery river breeze, I opened the phone’s stock software, a rough calculation, less than a year, I bought and sold stocks hundreds of times, frequent chasing up and down (buy high, sell low), not only did not make back the previous loss of 70,000, and a new loss of about 80,000 yuan.
As the saying goes, “the drowning are going to be water”. I was so conceited that I thought I could grasp everything with the same precision as the laws of mathematics through research. But the stock market is not a mathematical problem, which contains too many variables, and a variety of unknown “black swan event”, not human power. What’s more, “the road is one foot high, the devil is one foot high”, the cunning dealer will also be based on the widely disseminated so-called theory of “induce more” to seduce the self-righteous veterans.
I counted my fingers, I invested a total of 250,000 yuan in the stock market before and after, lost 150,000, a loss rate of 60%. When I go to work, I put all my energy into watching and studying the stock market, and I was distracted from my work. My wife asked me how I was doing in the stock market. I lied to her and said I only invested 30,000 to 40,000 yuan, a little profit, she could not understand is the family car breakdowns constantly, I always yelled before to change a good car why the delay in action.
When I got married I took over the family finances on the grounds that I was a “banker” and good at managing money, but now what? The money invested in the stock market has almost emptied the family’s savings. This makes me doubt my own ability and judgment for the first time, no talent for speculation, want to earn money still have to work honestly.
4
The second half of 2012 to 2014 was a stable period for me to work more realistically, I seldom opened the stock market software, at most glance at the index every day. I will spend more time working hard, but also because of these two years of hard work, 36 years old, I climbed to the position of branch president. Not counting bonuses, the head of the bank can have more than 200,000 yuan of salary income a year, in the northeastern city is considered a gold collar, a great deal of wealth is impossible, but still more than enough to support the family. And, this annual income can completely cover my previous stock market losses – the previous loss of money in the stock market, the two years almost did not return capital.
However, perhaps my competitive spirit is too strong, the first half of my life in other areas are smooth, college, looking for a job, plus now the promotion have gotten what they want, which “inspired” me to once broken in the battlefield of speculation, to break back a game.
One day, I received a “bull stock recommendation today” text message. At that time, the telecom fraud has been more powerful, received this information I generally do not look, that day I do not know how to take the wrong nerve, glanced at the code, call out that stock, it is in a downtrend, technically how to see no signs of strength, but I still god to save it in the self-selected stocks.
I did not expect the next day the stock opened a little down, then a strong climb, within ten minutes out of the “rocket launch” pattern, until the seal stop. The next two days ended with two consecutive stops. I turned up the text message, with a curious mind to add the qq number inside.
The QQ number over there is a claim to be doing speculation software engineer, said the company consists of a professional team of stock analysts and data experts, research and development of speculation must win software, he and I chatted for two days to send me a free trial version.
This speculation software and I downloaded from the official website of the securities company is not much different, but more features such as fast rising stock alerts, capital inflow and outflow display, etc.. These flashy features can only play a reference role, completely unable to talk about the “sure win”.
I raised my own questions, the engineer there said this is only the basic version, if you want to upgrade to the “winning version” need to pay 5800 yuan of research and development costs. The VIP software has clear buy and sell signals. He sent me a few screenshots, and the tips were really accurate.
I think I have no problem with the technology of stock selection, but lose in the inability to overcome human greed, the stock in hand rose, optimistic that it will rise again and again, refused to sell, once down and will feel that the previous high price did not sell, low price to sell is a pity, missed a good opportunity to escape. The quantitative analysis of data is always more reliable than human subjectivity, if such software can be bound to remind me of the time to sell, profit will become easier. Besides, for $5,000 or $6,000, the stock would make it back in one stop.
I paid the fee, activated all the functions of the software, according to customer service is: “The yellow smiley face is the buy signal, the red crying face is the sell signal.” I pulled up the K-line charts of several stocks in a row, and seeing is believing, I had to marvel at the power of technology – the yellow smiley icons were basically at the bottom of the stock, and the red crying sell signals all appeared at the top of the stock.
Not surprisingly, I quickly turned into a crying face myself. I hopefully transferred 200,000 yuan, sold the original holdings of the half-dead “weak stocks”, to 300,000 funds. According to the software tips point to buy, but delayed waiting for the selling point of the tip, until the stock from up to down. In my inquiry, customer service staff replied that the buy-sell signal can not be completely accurate bottom escape top, only to ensure the general accuracy, the book is only a floating loss, let me wait patiently for the sell signal is. I am like a fool waiting left and right, so, two months of work was deep set of 3 stocks.
The loss of more than a numb mentality, I began to stay in the office after work again reluctant to go home, aimlessly knocking code to see the stock. When I looked at a stock saved in my own stock selection, I suddenly found that the yellow smiley face position of the original prompt buy point seemed to have changed. I took a few pictures of the buying and selling points with my cell phone, and after a few trading days, the smiley faces had moved and the position of the tips had changed!
I consulted customer service on QQ, did not receive a reply, and when I logged in again the next day, I found I had been blacked out by customer service – I had been fooled, and the yellow smiley face on the software that prompted the buy seemed to be laughing at my IQ ……
Later someone told me that this is just a scam, these scammers send information to thousands of people at the same time, the recommended stocks are not the same, the vast majority of stocks are down in the wide net, but there are always a few can be accurate, there will always be fools believe it, and then wait for the opportunity to sell speculative software, and I am one of those fools.
And “must win the software” inside the fishy is: query “has happened” when the stock trend, buy and sell points accurate, because that is “hindsight”. The software itself is prepared with a formula of some kind of function. The buy and sell signals are actually unstable, meaning that a buy or sell signal is issued in the k-chart on a certain day, but as the market develops, the signal may disappear and then reappear in a new position.
5
I lost a lot of money buying the software, but I was trapped. In order to cover up their own stupidity, have to carry forward the spirit of Q comfort themselves, if not the software recommendation, may be deeper set. This toss, I lost another 150,000, plus the previous loss of 150,000, before and after the loss of more than 300,000 yuan, want to rely on their own operations back to capital, it is more difficult than winning the lottery, who knows there is a bigger pit waiting for me.
In 2014 I unintentionally paid attention to a microblog called “Magic Master” stock analyst, officially certified as a famous financial speculation blog, with 800,000 followers and hundreds of millions of views. Thousands of blog posts include analysis of the general trend, individual stock tips, financial news and other columns. The most attractive thing to me is that this person live in the plate to speculate on their own, years of experience in stock speculation has made me have seen through the so-called “stock gods” and “experts”, they are either published two head blocking remarks to maintain their always correct image. Either they are determined to always look down or always look up.
A road to run to black, the index is always up and down when well, was the face of the market to shrink into a corner and play deaf and dumb, the right to jump out to bang the gong to boast that they are Zhuge Kongming reincarnation. The “magical master” is different, he will not only make judgments on individual stocks, but also dare to predict the general market in the medium term point, must have “two brushes”, so I joined his army of believers, after a few weeks of quiet observation found his predictions are basically accurate.
Once the master rare in the live recommended a down stock, I think today is down no longer down anyway, will be convinced to put 10,000 yuan to test the water. Really divine, the afternoon opening of this stock really open the stop, the day closed up 8.45%, I opened the next day and then up 3% when thrown, less than two days to profit more than 20%. I think this person either has the genius of speculation, or what insider information, from the opening of the market every day before I open the “Magic Master” live viewing.
The “Magic Master” live stream has a function of sending notes to consult about the operation of individual stocks. I sent several inquiries, received such as: “the plate here as expected to meet the digestion, the daily level although the high level is not large, but also need time to digest, calm, individual shares must learn to treat differently!” Such vague, worthless explanation.
Slowly I found that to become a fan of the “Master of Heaven” to buy the “treasure box” to get clear stock recommendations and operational guidelines. The treasure box is divided into three grades, respectively priced at 300 yuan, 500 yuan, 800 yuan, paid by Alipay. A treasure box contains two stocks, each is expected to profit at least 10% or more. If you put in 10,000 yuan, a stop is 1,000 yuan, the net remaining earnings is also quite cost-effective.
I when the head of accounting those years to identify the scammer more, are “on behalf of the speculation package to earn” scheme, the funds to people’s accounts, the other party to return to the so-called “profit” to attract you to put more money, empty your pockets on the sudden evaporation. The Magician is different, does not accept the commission speculation, only earn the treasure box money, so he certainly hope that the fans profit.
The funds in their own hands, what risk is afraid of it? So I began to try from the price of 300 yuan, as before, at first was able to profit, but soon I again tasted the bitterness of profit – a few months later, not only the “Master” on the general market trend of the views of repeatedly hit the face, even the high price of the treasure box recommended Stocks are also a position to be set up, in this regard, the master said do not be nervous, let everyone hold on. But as the days go by, seeing the loss has been more than 100,000, I really can not bear to go on, in the live room to speak to question, first by a group of suspected water army guys besieged, and then simply be pulled black ban.
I realized that the previous magical operation was not because of the Tian Shi’s experience and talent in stock speculation, but the stock market would have come out of a bull market. Once the bull turned to bear, the Master of Heaven lost as much as ordinary people. Only the master of the sky does not rely mainly on speculation profit. And the so-called “live operation” is just a wonderful drama, selling treasure chests to make money is a sure-fire deal.
Imagine if those “gods of speculation” really more than enough to do a hundred hits, with a daily 10% growth rate of wealth, in a few years more than Warren Buffett and Bill Gates to become the world’s richest, where there is time to take care of the unknown shareholder it.
6
More than 400,000 yuan, like a dewdrop on a blade of grass in the morning, disappeared without a trace. Eight years have passed, and I still drive my own car, which my buddies call “Blue Runner”. When visiting the more familiar large customers, people say: “Feng Chang you really low profile ……”
My face with a smile, but the heart turned over the bottle of five flavors. If not spend a lot of energy on stock speculation, grasp the performance of marketing bonuses can earn a lot. Now not only bad performance bonuses can not earn, even when the bank president a year more than 200,000 fixed income, I also all filled the pit of stock speculation.
My wife asked me where all the money I earned went? I lied to her and told her that I had purchased a fund sold on behalf of the bank, one to complete the task assigned by the parent bank, the second is for the future of the children’s school expenses financial management. However, the “fund” will always be redeemed one day, the fear of the lie being exposed makes me panic, my head can only be loaded with one thing, and that is to return to the capital.
Our line has a colleague who made a lot of money speculating in stocks, she bought Oriental Group in 2005 for 3.5 yuan, got 32 yuan to throw, and then killed Dong Ah Gum doubled and sold, 30,000 yuan of capital to 660,000. I asked her for the secret, she laughed: “What is the secret, it is just boldness plus luck.”
I was born in economics, practice has proved that “Western Economics”, “statistics”, “finance” to learn and then good, in the speculation on the gross useless, the loss of money to lose money, the cut meat to cut meat, there is no a stable way to win. I know the economic principle of “the greater the risk, the greater the gain”, but knowing more seems to help. I moved my attention to stock index futures – “Since the broad market index fell, so I lost money, I can also use stock index futures leveraged shorting, multiply the money back!
But the stock index futures account threshold of 500,000 yuan, I have the money in hand plus the balance of the stock account is still quite a bit short. I am a line leader and enjoy a high line of credit with the Bank, so I looked for a way to secretly cash out all 300,000 lines of my platinum credit card.
In 2015, the market again climbed to a high of 5,000 points, stock commentators jumped out again to sing, “the old tune of 10,000 points on the Shanghai Stock Exchange” also took out to replay, but I have a sense of the top of the market.
Sure enough, the market suddenly began to plunge in mid-June, down 700 points in just 5 days, with 07 to 08 years of experience, I think the opportunity came, full positions to buy bearish contracts, and opened the pace of shorting the index. This time the gods of luck finally favored me – the CSI 300 index fell below 4,000 points, my account once a profit of more than 400,000 yuan, the previous loss in a month’s time all earned back! For many years, the boulder in the chest was violently overturned, there is an indescribable sense of relief.
But the excitement and complacency of making money dissipated very quickly, and my mind was soon overwhelmed by greed. Although I was advised by informed friends to call it quits, and I had heard stories of overnight millionaires who had made tens of millions of dollars playing futures and finally lost it all, I was not willing to spend years of effort on the stock market and play for nothing, but I had to make some money to afford myself.
After shorting profit (shorting, is a common way of operation in the stock futures market, the operation is expected to have a downward trend in the stock futures market, the operator will sell the chips in hand at the market price, and then buy after the stock futures fall to earn the middle spread), I think the index fell too quickly, even if it is a bear market, there must be a small-scale rebound. I did not expect the “retribution” to come so quickly, the market rose and fell without any signs of rebound, I “do more” contract (do more, financial markets such as stocks, foreign exchange or futures terminology: is bullish stocks, foreign exchange or futures and other future (long, financial markets such as stocks, foreign exchange or futures, etc. term: is bullish on the future prospects of stocks, foreign exchange or futures, etc. and buy and hold waiting for the rise of profit) position shaky, facing the risk of being forced to close the position.
I believe that “China’s stock market is a policy market”. At that time, the government introduced a series of measures such as “suspension of IPO”, and decided that with the intervention of state policy, the index is bound to rebound quickly, so I continued to add margin to insist on doing more. But the CSI 300 index after a short small rise, in late August and began a sharp turn down to 3200 points, the securities department informed me of additional margin, but at that time I had no “ammunition”.
The end of the tragedy is that I was forced to close my position, after the account liquidation is only RMB 60,000, which means that I am now carrying a bank debt of 240,000, including their own capital invested more than 200,000, before the stock loss of more than 400,000, time and effort these years, I have lost nearly a million – and at that time, in our local relatively good location of the new house, also on the first 10,000 a square meter.
I was like a gambler who had lost everything, for two weeks in a row, rarely talking during the day, just sitting in the office and fidgeting, and tossing and turning at night, staying awake all night.
7
The Bank’s credit card was overdue. The head of the personal finance department approached me and cautiously reminded me if I had forgotten to pay my credit card. His suspicious eyes told me that he could not understand how such a large expenditure of 300,000, as a bank executive who came from business and had SMS reminders, could be forgotten.
No money in hand, I had to tear down the east wall to mend the west wall, in the name of home renovation from the staff loan more than 200,000 yuan to repay the fire credit card overdue, but the one-year term of short-term loans must be paid back after all. I scandalously came up with two solutions: one is to recycle the credit card line to cash out, and the other is to borrow loan shark funds to pay back the capital. Unfortunately, the head office risk warning lowered my credit limit. I had to contact several loan companies, the monthly interest rate is between 8%-12% “donkey punch” (compound interest), six months will be doubled. Playing with such a terrible debt, I had to leap off the roof of the building if something went wrong.
At the moment of my uncertainty, fate saved me once again. I helmed the branch performance is very poor, the branch president to me to implement a reprimand conversation, the conversation I heard that the higher line leaders are very dissatisfied with my work status, the staff also privately on me, a handful of comments. Now think about it, whoever reflected the situation to the branch leadership, I really have to thank him.
That night when I got home from work, I decided not to wrap the fire in paper and confess all the circumstances to my wife, before the huge losses in the stock market I admit, even if the divorce, I am also to blame. Surprisingly, after hearing the whole story, my wife just silently wiped two tears: “I guessed you had something to hide from me all these years, it’s too late to regret, let’s find a way to pay off the loan.” She borrowed 100,000 yuan from her mother’s family to repay part of the loan, and we sold the garage and lived frugally for a whole year, finally paying off the bank’s 240,000 loan before it became overdue.
After the Spring Festival in 2016, I tried to redeem the bad impression I left on the leaders of my superior bank and the bank’s employees by studying products and marketing methods, working overtime with line staff to handle business, and going on property marketing on holidays, both for performance and for income. I wanted to make up for what I had lost in the past by working hard to earn money. I owe both my family and my employees, and perhaps driven by the subconsciousness of earning more effective wages, I have been lax in lending to people.
Some time ago this year, the management of all the branches under the jurisdiction of the branch stood up for reappointment, I was not selected, I was told by the internal management that it should be related to the slightly high rate of non-performing loans issued by my hands in recent years. Now it seems that life and speculation is similar, the career to the peak, once lost in self, imbalance, also the same rapid decline, or even a sudden fall.
These years I lost not only money because of speculation, but also time, experience and valuable enthusiasm. The day I poured everything into the stock market, my entire mental state was abnormal: no matter how hard you work, there is no stock market to make money fast. When stocks go up, you will be wrapped in the satisfaction of getting something for nothing. With only four hours of daily trading time, people will feel unfulfilled and waste a lot of time browsing major financial websites and visiting stock bars. Greed is a bottomless pit, just like the cheating software, the psychological bottom line of stop-loss and stop-gain will keep changing with the change of stock price.
Older stockholders know the truth that “buying is the disciple, selling is the master”, because they have swallowed the bitter fruit of the stock price climbing to the peak and falling into the abyss.
At the same time I also saw the face of the various parasites around the stock market. The retailer is like a fat sheep, the banker the lion is watching closely, the opportunity is ripe to pounce on, frantically tearing off the fat white meat. And at this time there are a group of salivating hyenas around the lion in the squatting, they are Zhuangto, water army, selling software, selling treasure boxes, the purpose is to take advantage of the chaos also in the small scattered scrape some meat to eat.
Postscript
Several buddies at the table listened to the old Feng’s narrative, all sighing and lamenting. We only said that he lost a hundred thousand or eighty thousand in the stock market, but really do not know that he had fallen into such a terrible swamp. Thankfully, Feng stepped on the brakes at a critical moment, as a bank president, he can easily lend millions in small loan companies, but then thrown into the stock market is almost certainly a dead end.
I think probably everyone has a dream of getting rich, effortlessly achieve freedom of wealth, live in a mansion, drive a sports car, no longer have to look at the face of the leader to act. A stock market is as deep as the sea, from the old Feng’s experience, theoretical knowledge is not win the human greed. When the stock rose, do a million rich and want to do millionaires, once the loss and resigned, constantly replenish positions to carry the end, and finally experts became gamblers lose a lot.
Newton once in the speculation loss after helplessly lamented: “I can calculate the operation of the celestial bodies, but can not calculate the human madness!”
I think as a humble small retailer, put a small amount of assets, in the stock price is relatively low, choose a good performance of the development of the stock to guard the medium and long term, good luck, perhaps a certain stage to obtain the book float, but when it comes to making money, only to clear the position, the life of the stock is no longer touching the real bag for peace. For those who have not yet entered the market, do not think about how much money you can make before you speculate, but first weigh how much loss you can afford.
If you have to say a sure-fire way to not lose money, that is – not to speculate.
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