Chapter 105: Unacceptable Risks, Cannot Take
Li Feng thought about it for a while and then sent a long WeChat message to Xiao Bo.
After reading it, Xiao Bo interrupted Wang Dongdong and said, "Dongdong, tell me the truth, how much money did you lose in stock trading?"
"Not much, not much, just over a million."
"What?! Over a million?!" Xiao Bo was shocked. "How did you lose so much?!"
Wang Dongdong argued:
"Over a million is too much? More than a month ago, I wouldn't even look at it. I'm making over a million every minute, and you still care about such a small amount of money? Humph!"
"Xiao Bo, don't be so shocked. It's just over a million, isn't it? I just borrowed 80,000 from you. Don't worry, I'll make it back in a couple of days and return it all to you! I'll even give you interest. Now, can you help me get some more money?"
As soon as the topic of money came up, Wang Dongdong became anxious and stopped looking at the market. While talking, he hurriedly tried to pour water for Xiao Bo, but after searching for a long time, he couldn't find a clean cup.
Seeing Wang Dongdong rummaging around in his chicken coop-like home, Xiao Bo stopped him and said, "Dongdong, stop looking. I'm not thirsty either. We've been classmates for three years and have worked together for ten. Just listen to my advice and stop speculating in stocks."
"It's not too late to turn back now. It's just a little over a million, isn't it? If you work hard for a few years, you might be able to earn it back! But if you continue to speculate, it will be a bottomless pit..."
Xiao Bo's words struck Wang Dongdong's heart hard. He couldn't help but groan and murmur, "Turning back? Turning back is impossible. There's no turning back."
He reflexively looked at the three computer screens again, and his mind couldn't help but emerge with the glory of the past.
In March, I borrowed two million yuan and entered the stock market.
Luck, amazingly good.
It was true that whatever I bought went up in value. It only took more than two months, with a capital of two million and a leverage of one to three, I increased the capital to more than ten million yuan in one go!
At that time, he was full of vigor and vitality.
I always fantasize that if I work for a few more months, I can strive to earn a small amount of money, achieve financial freedom, and live freely between heaven and earth, never to be busy again.
Unfortunately, the "stock market crash" came so unexpectedly. In less than half a month, my position was liquidated and my beautiful dream was shattered like a bubble.
"I can't accept this," Wang Dongdong muttered. "Why didn't I seize this great opportunity to get rich quick? Maybe I didn't work hard enough, or maybe I didn't fight hard enough."
"Xiao Bo, look, I've even started monitoring the Dow Jones Industrial Average. I watch the market every night and write down my thoughts. It's said that there's a very close linkage between A-shares and US stocks. I must have suffered losses before because I didn't study this aspect. This time, as long as I work hard enough, I will definitely be able to recover all my previous losses!"
"Believe me, Xiao Bo, if you give me another chance and lend me another million yuan, I will be able to make a comeback!"
Wang Dongdong seemed to have grabbed a life-saving straw and kept talking.
Xiao Bo, however, poured a bucket of cold water on him and scolded him, "Dongdong, are you crazy? Why are you still thinking about borrowing money to invest in stocks? If you keep going like this, you'll be ruined!"
"No matter what we do, we can't take risks that we can't afford!"
"If you continue to speculate in the stock market, not only will you lose your position, but you'll probably lose your house and car too! Have you considered the risks? Can you afford it?"
"If you don't think about yourself, you should at least think about your child, right? Your child is only a little over a year old. You can't let him live his whole life with millions of dollars in debt from the moment he's born!"
Xiao Bo's rebuttal not only failed to alert Wang Dongdong, but also further stimulated his hysteria. He loudly emphasized:
"Xiao Bo, please stop talking. I've thought about this countless times. If I don't trade stocks, what can I do? Continue to run a stall and screw things in? I'll never be able to turn things around!"
"Opening a stall, how much can you earn a year now? At best, 200,000 or 300,000. After deducting mortgage, car loan and other fees, you can save a shit! It's just a house and a car, right? I started from scratch. The worst that can happen is that I lose it all, and then I can start all over again. In 18 years, I'll be a hero again!"
"You - you - ah -" Xiao Bo pointed at Wang Dongdong, helpless.
Wang Dongdong also felt that Xiao Bo didn't understand him, and said unhappily: "Xiao Bo, if you don't have anything to do, don't bother me with stock trading. I will return your 80,000 yuan in two days, don't worry."
After saying that, Wang Dongdong went into the study without looking back and began to study stocks.
Xiao Bo could only sigh again, walked through the living room alone, pushed the door open and left.
Wednesday, August 19, 2015.
The Shanghai Composite Index closed with a small positive line, up 1.23%, closing at 3794 points, with a trading volume of 599.5 billion.
The ChiNext Index closed with a medium-sized positive line, up 2.66%, closing at 2570 points, with a trading volume of 48.8 billion.
It seems that the adjustment on the 18th was just a normal fluctuation.
Countless investors, including Zhao Xinyue and Wang Dongdong, breathed a sigh of relief.
However, the subsequent developments exceeded everyone's expectations.
Thursday, August 20, 2015.
The Shanghai Composite Index opened at 3754 points, plummeted 3.42%, and closed at 3664 points. A medium-sized negative line almost wiped out yesterday's positive line, and trading volume shrank to 501.1 billion yuan!
The ChiNext Index opened at 2556 points, plummeted 2.41%, and closed at 2508 points. A small negative line barely held the 2500 point level, and trading volume shrank to 45.4 billion.
Friday, August 21, 2015.
The Shanghai Composite Index continued to open lower at 3609 points, and fell again by 4.27%, closing at 3507 points. It was another medium-sized negative line, completely breaking through 3600 points, and trading volume continued to shrink to 450.6 billion.
The ChiNext Index continued to open low at 2452 points, plummeted 6.65%, and closed at 2341 points, breaking through the two key points of 2500 points and 2400 points in succession. The total trading volume for the day was only 37.6 billion yuan. Many stocks were blocked at the lower limit and could not be sold, so there was no trading volume.
Over the weekend, panic spread across major stock forums.
Monday, August 24, 2015.
The Shanghai Composite Index opened low at 3373 points, breaking through the two key points of 3500 points and 3400 points at the opening. After several adjustments during the session, it plummeted all the way to close at 3209 points, breaking through 3300 points. It fell 294 points for the whole day, a plunge of 8.49%!
The trading volume was 358.8 billion.
The three major index futures all hit the daily limit.
The decline in the Shanghai Composite Index created the largest drop since the daily price limit system was implemented in 1996!
That night, the Shanghai Composite Index plummeted, triggering a sharp drop in the Dow Jones Industrial Average, which plummeted below 16,000 points. The pre-market drop of -5% directly triggered the circuit breaker mechanism.
The ChiNext Index opened low at 2222 points, broke through 2300 points at the opening, and then plummeted all the way to 2152 points, a plunge of 8.08%, or 189 points, for the day.
Trading volume shrank again to 24.6 billion
This is not the end yet.
Tuesday, August 25, 2015.
The Shanghai Composite Index opened at 3004 points and barely held above 300 points, down 6.4%. However, after opening, it rose for only two hours before plummeting in the afternoon, plummeting all the way, and closed down again by 7.63%, directly breaking through 3000 points and closing at 2964 points.
The total trading volume for the day was 358.7 billion.
The ChiNext Index broke through 2000 points at the opening, opening at 1996 points, and continued to plummet until the closing at 1990 points, plunging another 7.52% throughout the day.
Total trading volume for the day: 27.8 billion.
In the two markets, thousands of stocks hit the daily limit again, and a total of 2018 stocks hit the daily limit.
On the 21st, 24th and 25th, for three consecutive days, the first-weighted stock in the ChiNext, Oriental Fortune, the second-weighted stock, LeTV, the third-weighted stock, Robot, and the fourth-weighted stock, Wanda Information, all hit the daily limit!
The second "stock market crash" is coming back.
In just six trading days, the Shanghai Composite Index plummeted 1,000 points! A 25% drop! This decline is even worse than the last stock market crash, but no less severe.
Boundless panic once again enveloped the A-share market. Investors huddled in major stock forums, discussing bad news and looking for good news.
Wang Dongdong slumped in front of the computer desk, staring at the computer screen intently. His eyes gradually became unfocused, as if he had aged several years. A big green number, -80,000, was deeply engraved in his pupils.
The three GEM stocks he bought in batches, LeTV, Oriental Fortune, and Robot, all hit the daily limit for several consecutive days, and his position was directly liquidated again.
The cell phone vibrated wildly.
No need to guess, it's either the financing company asking for additional margin, or the small loan company calling to collect debts.
He hung up without even looking at it.
But just after I hung up, someone called again, and it was a virtual number.
Wang Dongdong felt annoyed and turned off his phone immediately. The whole world suddenly became much quieter.
He felt relieved and suddenly felt very sleepy. His upper eyelid was stuck to his lower eyelid and could not be torn apart.
It seems like I haven’t slept for three consecutive days?
The next moment, he fell into a deep sleep.
He didn't know how long he had slept, but a burst of scolding woke him up.
"Wang Dongdong! You're a loser! How did you mess up your house like this? How can people live here?" It turned out to be Wang Dongdong's wife, Yin Lili, who came back.
Wang Dongdong struggled, opened his eyes, turned his head and looked towards the living room.
Yin Lili was seen holding the child in one hand, covering her mouth with the other, and walking over on tiptoe, avoiding the pile of garbage on the floor.
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