How much money does it take to be a banker?

In the financial market, a small retail investor dared to be a banker with only a few hundred thousand yuan of funds. He cleverly used the existing market mechanism and won considerable returns with minimal risk.

Recently, the China Securities Regulatory Commission issued an announcement, revealing a small investor named Zhang Ming, who made a profit of 1.54 million yuan in two years with only a few hundred thousand yuan of funds. However, he was eventually arrested for suspected market manipulation.

Zhang Ming's operation strategy is quite unique:

He specifically chooses inactive LOF funds as targets. Such funds can be bought and sold directly through stock accounts, and also support subscription and redemption. The funds he chooses usually have the following characteristics: poor liquidity, low trading volume, no interference from other large funds, and small market value.

The specific operation steps are as follows:

Zhang Ming does not buy funds directly in the secondary market, but accumulates shares through on-site fund subscription, which can effectively avoid affecting market prices.

After completing the accumulation of chips, he will push up the prices of these funds in the secondary market. Using different accounts under his control to buy and sell transactions, it only takes tens of thousands of yuan to drive the price limit.

After pulling out several daily limit boards in a row, he would attract retail investors to enter the market through various means. Once enough external funds entered, he began to sell the fund shares in his hands.

If no one took over, he would take advantage of the small fluctuation of the net value of the fund and at least guarantee the principal from loss through on-site redemption.

However, due to the abnormal price increase of the fund he operated in the secondary market, there was a large deviation from the net value increase of the products in the same period, which eventually attracted the attention of the regulators.

According to statistics, during the period of manipulation, Zhang Ming subscribed to more than 20 million yuan of funds involved in the case in the Shenzhen and Shanghai stock markets, and the total profit exceeded 1.5 million yuan. In the end, the China Securities Regulatory Commission took severe punishment measures against him, not only confiscating all his illegal gains, but also imposing a fine.

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