St Tunhe was released at noon. The time node was very strange. When the news came to Chen Qiaoshan, the stock market was basically well known.

First, the Shanghai Stock Exchange issued a risk warning, Tunhe shares were forced to take a hat, and then the main force tried their best to suppress them. St Tunhe stock price experienced a continuous cliff-like decline, with heavy losses.

Seeing the market strikingly, there is a possibility of halving if it continues.

No one could have thought that it was under this background that Tunhe, which has become a lamb to be slaughtered, would wait for an opportunity to fight back, and it would be a very critical blow.

Just after the opening in the afternoon, St Tunhe completed the entire process from the limit down to the limit up. In a very short period of time, the amplitude was as high as 10%, which caught everyone off guard.

On the contrary, the market did not have the expected counterattack, and the decline became increasingly deeper. The Shanghai Composite Index has fallen below 1,800 points. The originally sought-after "Five Golden Flowers" are all in decline. In the past two months, the blue chips of automobiles and finance have quickly turned into continuous negative declines.

As of the close, Sinopec plummeted 7.4%, and China Unicom plummeted 4.1%. The depth of the decline can be seen. With the rapid decline of many indicator stocks, the decline of the market has become inevitable.

Chen Qiaoshan could see it clearly. For him, the trend in the next few months has become completely clear. From April to August, the situation of continuous negative closing of the monthly K-line may be inevitable.

For several days, the same scene continued to happen, and the market continued to decline, but St Tunhe went up against the market, the stock price rebounded strongly, and the future trend was fierce.

Chen Qiaoshan knew that under this situation, St Tunhe was not only expected to recover lost land, but also had a great possibility of hitting a new high.

Big blue chips have fallen one after another, while second-tier blue chip stocks, mainly ports, electricity and chemicals, are clearly increasing their investment, but they still cannot reverse the deterioration of the situation.

The alternation of hot and cold markets is completely different, which makes many investors unable to react at the moment. In just a few days, there are many people who suffer heavy losses, and there are even more trapped people.

The sudden collapse of the stock market made some people suddenly remember the verbal battle on the Internet not long ago, and many people immediately regretted it.

When Qiao Shan of Peking University started to warn him, he gained ridicule and ridicule. The facts finally proved that his inference was correct, but unfortunately it was too late.

Affected by this, the number of registered users in Qingshan Forum has suddenly surged, and the number of real-time online users in the financial sector has hit a new high.

At the same time, due to sufficient preparations, Wang Wei entered the market as promised to buy at the bottom of the market and made a lot of results.

Chen Qiaoshan felt that the pressure on him was much less. Before the situation was clear, he suffered heavy losses every day. Although it was expected, it was indeed a torment to watch his own wealth shrink.

The market collapsed without any surprises, and some people were happy and some were worried.

Chen Qiaoshan is undoubtedly a profiteer, and he has gained a lot in both money and reputation.

"Dashan, why don't he stimulate Li Su? He was so arrogant at the time, so he had to take revenge, right?" Sun Guangming was very excited. The stock market collapsed, and he also benefited a lot.

Under Chen Qiaoshan's instruction, Fatty Sun has been posting to boost second-tier blue chips recently. Now it has appeared one by one. His bamboo shoot has become famous again, and his reputation has reached a higher level, and he has a faint attitude of catching up with Qiaoshan, Peking University.

Chen Qiaoshan smiled and said, "I'd better keep a low profile. The stock market has collapsed. Those who hate me must be more than those who love me. I'm running out at this time, isn't it uncomfortable to feel comfortable?"

"Let me tell me, who do you like you?" A familiar voice sounded from my ears. Chen Qiaoshan turned his head and looked at him. Yan Xiaoqin was staring at him with a smile. He couldn't help but touch his nose and smiled, "I just said casually, casually!"

Yan Xiaoqin gave him a angrily glance, but did not continue to pursue the matter. She asked, "What are you two talking about?"

Fatty Sun smiled and said, "Isn't that? He's showing off how many people love him."

"Go aside." Chen Qiaoshan glared at Fat Sun in annoyed manner, then looked at Yan Xiaoqin and asked, "Why are you the only one?"

Yan Xiaoqin explained: "Wang Lin and the others have classes in the afternoon, so they can't come today." After a pause, she asked again: "I'm fine in the afternoon, what can I help?"

Chen Qiaoshan smiled and said, "Okay, another free labor force is coming, you can go to Sister Chang to have a look."

After Yan Xiaoqin left, Sun Guangming asked seriously: "Dashan, why do I feel that I can't use finance in the stock market at all?"

"Why did you suddenly remember to say this?" Chen Qiaoshan was a little puzzled.

Fatty Sun said in a naughty way: "I found that the securities investment science taught by the teacher is compared with the real stock market, wherever there is a problem."

Chen Qiaoshan became interested, and he asked with a smile: "If you have any questions, let me tell you."

"There are many problems!" Sun Fatty Murched, "For example, calculate the discount rate based on the stock volatility, then discount the company's future cash flow, and compare the theoretical value with the market. The result is often outrageous. If one of the ten cases matches, it will be burning high incense."

Although Sun Guangming looks unreliable, his inner body is far from being as lazy as it seems on the surface. Chen Qiaoshan knows that he is a beginner.

Finance is a subject that pays great attention to practice. The most significant feature of the theory is simple and the actual complexity is its most prominent feature. It is different from engineering. If you don’t do a good job in the drawings, you will definitely be a slack exam, let alone work. It is definitely a slack one.

But for finance, if you don’t understand the capital asset pricing model, the exam will definitely be a scumbag, but once you really regard it as a wise man and apply it to your actual work, you will probably have to roll it in the first place, and it will go as far as you can.

Chen Qiaoshan knew that Sun Guangming was in a period of confusion now.

He has also experienced this stage. Economic principles cannot explain market behavior, which will undoubtedly make people feel frustrated and even have self-doubt at one point. This is the charm of economics.

Chen Qiaoshan explained: "The discount rate is just a theoretical prediction and is a complete market assumption. You should know that the future cash flow will respond differently to different risk differences."

"A theory is just theory after all, finance focuses on practice, and market expectations are difficult to make accurate judgments based on theory."

"Since that's the case, why should we learn these useless theories? Just practice them directly?" Fatty Sun asked.

Chen Qiaoshan chuckled and said, "Why do you think the theory is useless?"

Fatty Sun was very dissatisfied and stared at him and said, "Have you ever heard of securities investment courses? If you trade stocks according to the theory in the book, do you think you can make money?"

Chen Qiaoshan shook his head, "The analysis of fundamentals is just an appearance, so naturally it cannot be done accurately."

"What do we learn? There are financial management, monetary finance, empirical finance, and all of these are the same."

"It's different." Chen Qiaoshan interrupted Fatty Sun's complaint.

"It requires accumulation to engage in finance. The relationship between industry models, upstream and downstream of the industrial chain, future prospects and market expectations are all factors that need to be considered comprehensively, and finance is the basis of all this."

Fatty Sun was thinking and was silent for a while. He began to ask again: "What you said is the knowledge that can be mastered through practice, what does it have to do with theory."
Chapter completed!