Stock trading should follow the Party
For Yang Baiwan, the term "old" doesn't just refer to his age of over 60; it also refers to his long experience in the stock market. Since making his first fortune by reselling government bonds in 1988, Yang Baiwan has become one of the first major securities investors in Shanghai and a hot figure in the stock market. Media outlets such as Time Magazine and Newsweek in the United States have reported on him, and CCTV also selected him as one of the "20 influential figures of China's reform and opening-up." In the eyes of reporters, the "old" that Yang Baiwan claims refers more to his astuteness. After 20 years in the market, Yang Baiwan has honed the skill of "saying good things in a bad way." "When I speak on TV, don't listen to 9 out of my 10 sentences; only listen to the one true sentence," Yang Baiwan gave an example: "The reduction of state-owned shares starting from 2001 was the fundamental reason for the market falling from 2200 points to 998 points. However, at that time, responsible officials from institutions including the Ministry of Finance all made statements saying that 'the reduction of state-owned shares is a positive signal,' and they hoped I would say the same. On the one hand, I couldn't offend the leaders, but on the other hand, I couldn't not save the stock investors, so I had to find another way to remind everyone. At that time, I said, 'I only graduated from junior high school, I can't tell if the reduction of state-owned shares is a positive or negative signal. I only know that when the Party and the government no longer want stocks from state-owned enterprises, we, as stock investors, should of course follow their lead!' The seemingly honest Yang Baiwan behind his thick glasses revealed a cunning smile at this moment.
Turning the cost of PetroChina into 0 yuan
"Jian" (cunning) sounds like "jian" (sharp). During yesterday's lecture, Yang Baiwan criticized the "higher-ups," the media, stock market commentators, and people who impersonated him to carry out scams with sharp words. He said: "Don't believe the media; when it says 'the bull market foundation is still there' at 4000 points, it's just deceiving people; those famous stock commentators who unanimously predicted a rise to 8000 points have all become jokes; anyone who claims to be able to predict the exact point number is either a god, a devil, or a braggart; and those online so-called Yang Baiwan Stock Research Institutes are all using my name to scam money."
Although "cunning" is not a good word, since ancient times, China has used the phrase "no merchant without cunning" to describe the astuteness of merchants. Yang Baiwan also possesses this astuteness.
"Entering the stock market is about making money. The notion that losing money is equivalent to paying tuition fees is nonsense; the stock market is a university where one never graduates." For those who mocked Yang Baiwan for being trapped after buying PetroChina, he took it lightly: "I did buy PetroChina at 39 yuan, but I sold it at 48.6 yuan. My current cost is 17 yuan, and I plan to reduce it to 0 yuan to leave it to my grandson. By then, when oil prices are fully liberalized and PetroChina reaches 40 yuan, let's see who will still laugh at me!"
Respecting me is respecting the Renminbi