How did the top masters go bankrupt in the stock market? (Collection)
1. Graham bought the bottom in 1931 after the stock market bubble burst in 1929, but ended up going bankrupt.
(Reason for failure: buying the bottom)
2. The famous economist Fisher had foreseen the stock market bubble burst in 1929, but still bought stocks that he thought were cheap. As a result, he lost millions of dollars in a few days and became penniless.
(Reason for failure: believing that excellent companies can cross cycles and buy regardless of price)
3. Soros believed that the Japanese stock market bubble was huge before 1987, so he shorted Japanese stocks, but ended up losing miserably. The Japanese stock market was bullish until 1989. Soros advocated in his Wall Street commentary that the US stock market would be strong and the Japanese stock market would collapse, but the result was just the opposite: the US stock market collapsed, but the Japanese stock market was strong. Soros's Quantum Fund lost 32% that year, but Kong Yifu, who sang against him, made the Kohl Fund profit 70%, which is an amazing number because almost all hedge funds lost money that year. In 1999, she was not optimistic about technology stocks, but after 2000, she used Quantum Fund to buy technology stocks at a high price, and finally suffered a big loss.
(Reason for failure: speculation, gambling)
4. The general manager of a fund management company in Shanghai started to enter the Taiwan stock market when it was more than 1,000 points, and continued to reach 10,000 points. The 500,000 yuan of funds she entered the market rolled to 80 million. In fact, she sold all the stocks when it was 10,000 points, and all she had in her hands was cash. Because she was worried that the stock market was too crazy, she was relatively rational. In the end, the Taiwan stock market rushed to more than 12,000 points, and the value increased by 160 times in more than three years, but the final outcome was still very miserable. When the Taiwan stock market fell from 12,000 points to 7,000 points, it had fallen by more than 5,000 points. It should have rebounded. She entered again, and the stock index fell by another 5,000 points. She had to admit all the losses and cleared all the positions, and three years of wealth turned to ashes again.
(Reason for failure: betting on a rebound, trading in waves)
Objectively speaking, she was very smart, but why did she enter the market again later? She thought she was a stock god and could control the stock market. The stock market was just her super cash machine. Here, I advise everyone that the stock market is good now and may be better in the future, but how to look at the stock market soberly and how to look at yourself is an eternal topic.
(Reason for failure: overestimating oneself)
5. There is a well-known stock analyst in Hong Kong, Cao Renchao, who was bearish at 1,200 points before the Hong Kong stock market crash in 1972, and was almost fired by the company. In 1973, the Hong Kong stock market reached 1,773 points and then fell sharply. In 1974, it fell to 400 points. Lao Cao avoided the big bear and became more confident. In July 1974, the Hong Kong stock market fell to 290 points and thought it was a good time to buy the bottom. He used all his savings of 500,000 Hong Kong dollars to buy the bottom of Hutchison Whampoa. The blue chip stock fell from 43 yuan in the stock market bubble in 1973 to 5.8. Lao Cao bought it with a full position. As a result, 5 months later, the Hong Kong stock market fell to 150 points again. Hutchison Whampoa fell to 1.1 yuan. Lao Cao finally cut his position and lost more than 80%.
(Reason for failure: full position trading)
6. Xu Xingbo is nearly 50 years old and is an ordinary employee of a medicinal materials company in Nanjing. In 1992, my country's securities market was just starting out, and many units and individuals were trying to make a fortune in this field. Xu Xingbo did make his first fortune here. With his rich investment experience, no matter how the stock market rises or falls, he can always sniff out the market trend in time and make adjustments in advance to ensure that his investment grows steadily. In October 2001, the situation took a sharp turn, but he still believed that he could survive the trough as before, and accepted more than 1 million yuan in entrusted funds. In June 2005, the Shanghai Composite Index fell below the 1,000-point mark, returning to 13 years ago overnight. The property that Xu Xingbo and his friends entrusted to him for stock trading was lost in this big drop.
(Reason for failure: leverage, borrowing money to invest)
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