Linda Yun shouldn't have said anything.

Now that she had, she would have to bear the corresponding consequences.

Su Yehao handed her over to Assistant Zhuang Wei with instructions to copy the company's secretarial regulations ten times, lest she leak information about his investments one day and cause him, as the boss, to take the blame.

As a nominal executive in many companies, even casually revealed news from Su Yehao's end could involve internal secrets.

Linda Yun was actually aware of this, so she only used her accumulated salary to invest in liquor stocks such as Wuliangye and Luzhou Laojiao, which he favored.

These were considered investment targets that Su Yehao had helped 5s Asset Management Company choose, and they had no direct relationship with him personally. Therefore, it wasn't actually against the rules or illegal for Linda Yun to open a securities account and trade liquor stocks.

Feeling particularly wronged, Linda Yun was currently in Zhuang Wei's office, copying the regulations manual as punishment. She shook her wrist and complained, "I feel like he's retaliating against me."

"Why do you say that?"

During the lunch break, Assistant Zhuang Wei calmly brewed herself a cup of Da Hong Pao tea, taking her time.

It was said that the owner of a tea shop had personally gone to Wuyi Mountain in the mainland to buy the tea, and the taste was very authentic.

She also liked to add a small bag of fresh milk to her unfinished black tea to make milk tea. Although the taste wasn't as good as the milk tea sold on the street, it was more nutritious and healthy.

Linda Yun copied as she said:

"Because when he was studying, I also made him copy English articles. Do you think this guy has been holding a grudge until today, finally catching me by my little tail? If I don't finish copying it ten times, I won't get my quarterly bonus. It's really miserable..."

Assistant Zhuang Wei wasn't good at interpersonal relationships, so she addressed the matter directly, saying:

"Who told you to secretly trade stocks behind his back? If you had been more generous and asked him directly what to invest in, maybe the boss wouldn't have made you copy it ten times. Many people are watching him, and even the people at the brokerage might try to understand what areas the boss is paying attention to through your account information. It's right to punish you, especially since you've already made so much money. It's a good deal."

"Indeed, I was just investing casually, and suddenly I remembered that Ah-hao had said that liquor stocks were worth holding for the long term. Who would have thought that that guy would change his mind so quickly, changing his mind again for no reason. I should have known not to let him wait for me, and waited for me to sell before reducing his holdings."

"...You actually wanted the boss to wait for you to sell? I finally understand why he made you copy it. Doesn't that equal him operating illegally? As the chief fund manager of sssss Asset Management Company, he needs to be responsible to the Securities Regulatory Commission and investors."

After Zhuang Wei finished speaking, she added, "Also, you don't need to tell me the boss's thoughts. That's also a violation. There are relevant clauses in the manual in front of you."

"..."

Linda Yun knew she was wrong.

She was stupid to complain to Zhuang Wei. At this moment, she changed the subject and asked, "Why do you always say sssss instead of simply 5s? Isn't it uncomfortable to read? Do you have OCD?"

"Hurry up and finish copying. It takes you an hour to copy once. Do you want to work overtime until late tonight? Let me tell you in advance, I won't be accompanying you. I'm going to listen to the Royal Concertgebouw Orchestra of Amsterdam tonight."

"Really? I want to go too..."

...

Su Yehao was also in the assistant's office.

He was spending a lot of money to support a group of consultants and analysts who were helping him calculate and deduce the upcoming trends in the mainland economic market.

The Nasdaq was no longer a concern. Even if it fell, it would only be temporary. Anyway, whether it was profit or loss, it was a private matter. As long as he didn't care about the rise and fall of his book assets, there was no problem at all. The same was true for the private equity-type assets under his name.

But now, through 5s Asset Management Company, he was managing hundreds of billions of Hong Kong dollars worth of assets for investors.

Investors would certainly not be like Su Yehao, relying on the advantage of foreknowledge, and holding firmly regardless of the rise or fall.

Once the economy entered a recession, these investors would definitely redeem their shares madly. At that time, 5s Asset Management Company's capital chain might have some minor problems.

The company's initial capital of 10 billion RMB had been gradually invested, and had been exchanged for shares in companies such as Vanke and Gree.

In fact, even if there were real problems, with Su Yehao's strength, it wouldn't be a matter of life and death.

It was just that he sensed something was wrong, so he was planning ahead and planning to cash out some funds in batches to prevent investors in open-ended mutual funds from redeeming their shares together.

As for closed-end private equity funds and public funds, Su Yehao could adjust his positions himself. With the current market popularity and trading volume, it wouldn't be too difficult to cash out.

After Feng Genius reported on the situation in the first quarter of this year, he suggested:

"The average return rate of the funds under 5s Asset Management in the first quarter of this year has already reached 4.43%. Even if we buy low-risk financial products in the second half of the year, it will be enough to give investors an explanation. The yield of some bonds can reach 6% to 7%, or even 8%."

Su Yehao nodded, looked at Feng Genius, and smiled:

"Unfortunately, those stocks that were financed and issued cannot be sold, and can only be left to drift with the tide in the market. However, I don't expect to have no losses at all. Being able to outperform other fund companies is also a victory. Doing asset management business seems to be easily affected by external factors and kidnapped by investors' emotions. I didn't think so much before. I should have kept more cash."

Feng Genius replied to him:

"Investors investing in financial management will naturally invest more when the market is good and less when the market is bad. It is very easy to be emotional. I suggest that after some redemptions, President Su, you should accept interviews with several media outlets to express your pessimistic views on the market prospects. Even if there is a real problem in the stock market later, you can stand up and show your ability, increasing investors' confidence in you."

After listening.

Su Yehao jokingly replied:

"It's enough to post on Yinhai Weibo, but I'm afraid that if I poke it lightly, the stock market bubble will burst directly. Wouldn't I become a sinner?"

It is an indisputable fact that there is a bubble in the mainland stock market. The index is as high as more than 2,000 points, and the average price-earnings ratio is more than 60 times.

An average price-earnings ratio of more than 60 times means that all listed companies must earn more than 60 years based on the current profits to be as high as the total value of the stock market. From an investment perspective, the value has long been overdrawn.

Of course.

The high price-earnings ratio of some companies does not necessarily mean there is a bubble. Rapidly growing performance can easily lower the price-earnings ratio.

Su Yehao knew that he had not chosen the wrong project, and that he could reap super-high returns if he waited patiently for a few more years. However, he had to take care of the emotions of the investors, which would inevitably feel a little troublesome.

He couldn't wait to establish several closed-end funds with a term of ten or twenty years, invest in them and throw them away, and ignore them.

Fortunately, as long as he avoids the potential crisis this time, he can go back and bottom out, and increase the short-term rate of return.

Maybe he can take this opportunity to secure the position of the No. 1 fund company in the country, and add the words "crossing the bull and bear" in the product introduction, which means ignoring the fluctuations of the bull market and the bear market, and successfully surviving the crisis.

It is easy to make money in a bull market, but it is very troublesome to avoid risks. This tests the fund manager's ability...