What hardships do young people of this generation suffer from financial management?
Players who have played "Dongsen" know that there are many ways to earn "bell money" in the game, among which fried kohlrabi has become a popular way to make money.
Players on different islands buy kohlrabi at random prices. From Monday to Saturday, shops on the island will buy at different "bell money" prices.
Kohlrabi will rot after more than 7 days, so players have to sell it within the shelf life. Generally, everyone will look for the lowest buying price on Sunday, and then look for a high price to sell from Monday to Saturday.
How to make a lot of money by relying on kohlrabi is the player's most real idea. Many people will seek high-priced island owners on other platforms and request to go to the island.
Many people have even created kohlrabi price forecast curves to help people find the best time to buy and sell. Does this sound a lot like K line?
Stir-fried kohlrabi made young people realize the cruelty of investment. But this also reflects the financial consumption habits of the post-90s generation.
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Screenshot of "2020 Chinese People's Financial Trends Report"
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Screenshot of "2020 Chinese People's Financial Trends Report"
The financial management method in the game world is relatively stable, and frying kohlrabi will basically not let everyone lose their money. But the market in the real world is full of unknowns and risks. We often see the news of "Crazy shoe speculation earns millions a month" and "Blind box can earn up to 39 times". I believe smart friends have begun to smell the fragrance of "leeks"...
Different people react differently in the face of dramatic changes in the capital market. The post-95s are anxious, the post-90s are constantly watching, and the post-80s seem Buddhist and unmoved.
We searched for some stories about money management and found that no one is smooth on this path. Most people have experienced some financial "accidents", and how to become a smart decision maker is already a compulsory homework for everyone in the market.
1. Run away after earning "1 million"
"After 15 years of bull market, I bought a house in Suzhou after earning 800,000 yuan."
Everyone set the starting point of the 2014 bull market in July, but in fact, most people didn't realize it at all. It wasn't until the interest rate cut was announced in November that everyone vaguely realized it. After entering the New Year, everyone has expressed their optimism about the stock market, and all parties in the society have interpreted why there is a bull market from their own professional perspectives.
Amin's uncle is an ordinary worker in a garment factory, earning a fixed salary of more than 10,000 yuan a month. Hearing everyone talking about the stock market, out of curiosity, it snowballed.
Afterwards, my uncle started to borrow money during this period, and collected a total of 500,000 full positions to buy, and made a net profit of more than 800,000 through successive operations. Later, through the 15-year bull market, after earning more than 800,000 yuan, I directly bought a house in Suzhou, and now the house has appreciated in value.
My uncle was very sensible, and he stopped in time after making money, and he never did stocks again in the next few years.
The stock market is turbulent, some people are carnival and some are crashing. In June 2015, the stock market began to fall, falling from 5178 points on June 12 to 3507 points on July 8, a drop of 32% in just 17 trading days. Then it evolved into a thousand-share limit-down, and many old stockholders were forcibly liquidated, and retail investors were blood-washed in this stock market crash of a thousand-share limit-down.
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2. Leverage is not what you want to open, you can open it if you want
"Three times leverage belongs to fighters, and ten times leverage belongs to warriors."
Once someone has tasted the sweetness of leverage, they are never willing to give up the big business with quick money. Increasing leverage will indeed double the income, but at the same time, the risks that need to be borne will also increase exponentially.
In March 2020, the crypto world went through a rollercoaster ride from extremes of greed to extremes of fear. The stampede-like plunge triggered a huge liquidation.
The Bitcoin market itself is a highly leveraged state, and selling in a falling market has triggered a stampede. How high is this leverage? 10 times to 20 times leverage is a leverage multiple that participants prefer, and even 100 times in some exchanges.
According to AICoin data, on the evening of March 12, there was a liquidation of US$2 billion in the currency market, with the maximum liquidation amount of US$10 million and an average liquidation amount of US$51,000 per transaction.
"People are like riding a roller coaster, earning fast and going fast, the heart can't stand it."
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3. Borrow money within the scope of your own tolerance
"During the bull market, I experienced the thrill of making money and started borrowing money everywhere."
Adong entered the market during the 15-year bull market, with a principal of 500,000. He experienced the feeling of earning tens of thousands a day, and did not stop after making money.
What followed was a cliff-like decline in the second half of 2015, and even the principal and interest were lost. Even so, A Dong was still reluctant to stop the loss, "Every day I fantasize that I will come back the next day, but every day ushers in a continued plunge."
Later, he still didn't give up when he was in debt. "I think that's the problem of the market, maybe I was not lucky enough at the time. Now the stock market has also stabilized, at least it will not plummet."
Entering the market again in 2018, Adong chose to take out a loan because he did not have much principal. Borrow from relatives and friends, use 360 IOUs, borrow money, credit cards...all the ways you can think of are used.
"I want to rely on the stock market to turn around, and I want to pay off my debts, and I can double my principal with these funds."
The result was still a mess. "In order to pay off the debt, even my parents' pension was taken out."
The collapse of adults all starts with borrowing money to speculate in stocks.
The well-known stock investment fund manager Peter Lynch once advised amateur investors to invest in long-term stocks after buying a good house and saving enough living expenses.
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4. People can only make money within the scope of their own cognition
The global new crown epidemic has led to a drop in oil prices, which has attracted many people to take the opportunity to buy the bottom. In order to allow ordinary people to have the opportunity to buy crude oil, domestic banks have launched a product called "paper crude oil" to provide domestic individual customers with trading services linked to overseas crude oil futures. Physical delivery is not allowed, and only cash settlement is possible. This "paper crude oil" is crude oil treasure.
Unexpectedly, under the new trading rules of the Chicago Mercantile Exchange (CME), crude oil futures prices can be negative. The oil price dropped to more than 30 US dollars overnight, causing about 30 billion assets to be harvested by the market.
Many buyers may not even know what futures are, and they buy oil futures in large quantities as longs, underestimating the risks of futures trading and bottom hunting. This once again made everyone realize that people can only earn money within their own cognition.
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5. No start no harm
The folks have always had a perception: "Participants lose seven, draw two and one earn". It is actually very difficult to make money from this market.
"I'm really flustered recently. Although I don't make any money, I won't liquidate my position or quit this time. I still believe it will be fine."
As a participant, the fundamental reason for repeated battles and defeats and continuous losses is that the investment attitude is not correct and the investment thinking is incorrect. In terms of investment methods, irrational and speculative operations dominate.
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6. Long-term bullish on value investing
Where there is a fall, there is an upswing, and where there is danger, there is opportunity.
Graham used his "Smart Investor" to turn investment into science, and Buffett carried forward the idea of value investing.
In this era of rapid wealth turnover, from the perspective of personal financial management, one should also have an understanding of the capital market. As a way of managing money, young people should have a more correct investment attitude and thinking.
The future society is a financial society. Only by keeping up with the times, understanding new trends and learning new skills can we seize opportunities.
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About "New District Potential--Blockchain Technology and Finance Summit"
After several rounds of baptism, the blockchain has gone from reckless to professional and mature. We found that blockchain technology, as a trust machine, is naturally suitable for the financial technology industry with highly informatized data, and it is a continuous exploration of technology in the process of digitization. Blockchain technology should become a "new area" for the upgrading of real industries, an important part of "new infrastructure", and a "new challenge" and "new opportunity" for the digital economy and open finance.
On August 28th, the "2020 New Regional Trend---Blockchain Technology Finance Summit" co-sponsored by Huobi Group and Odaily will be held in Beijing. We have sent sincere invitations to dozens of financial practitioners from major funds, securities, banks, and wealth management, as well as top industry partners. At the same time, the 2020 FAT "Top 100 Blockchain Financial Technology Leaders" will also be announced at the summit, so stay tuned.
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