Chinanews Client Beijing, June 15 (Reporter Xie Yiguan) Yang Huai, a professional investor known as "China's No. 1 Stockholder", died on June 13, 2021 at the age of 71.
According to Xinhua News Agency, a few months ago, Yang Huaiding, who suffered from diabetes for a long time, was admitted to the hospital due to complications.
"He said before his death that he had already lived a very exciting life and didn't want to disturb everyone when he left." His son Yang Yuqi said in an interview that as a junior, he also hopes to follow his father's wishes and let him leave quietly.
Data map: Yang million.
Source: Yangtze Evening News
Yang Huaiding is also known as the "Yang Million". As a practitioner, promoter, and beneficiary of the Chinese securities market, he has many "firsts": the first individual to engage in large-scale treasury securities transactions in other places, and the first to the Chinese people. Bank consulting securities individuals, the first individual to hire a bodyguard from a security company, the first to take the initiative to consult the taxation department for tax payment policies, the first to hire a private lawyer, the first to go to court with a securities company, and the first to act as an individual The investor was hired by the university as a professor.
From smashing his “iron rice bowl” to earn a living in the sea in the 1980s, to “speculation” buying and selling treasury bonds to earn the difference, to turning to the stock market to become “China's first stockholder”, Yang Huaiding grasped the opportunities brought about by reforms and was once shown by CCTV. He was named "Man of the 20th Anniversary of China's Reform and Opening-up".
Relying on "speculative" Treasury bills to earn the first million
Public information shows that Yang Huaiding was born in 1950 and his ancestral home was Zhenjiang, Jiangsu. He was originally an employee of Shanghai Ferroalloy Factory.
In 1988, 38-year-old Yang Huaiding quit his job as a warehouse clerk at the Shanghai Ferroalloy Plant and started his career as a "civilian securities investor" with 20,000 yuan in savings. The first pot of gold he earned came from treasury bills.
In the spring of 1988, the transfer of Treasury bills began to be piloted in seven cities in Shanghai. “If there is a transaction, there will be a spread and there will be a profit opportunity. So I gave up the idea of depositing money in the bank and went to buy and sell Treasury bills.” Yang Huaiding once stated to the China Securities Journal. .
On April 21, 1988, Shanghai opened the trading of treasury bills.
Yang Huaiding rushed to the outlet early in the morning and bought a three-year treasury bill with an annual interest rate of 20,000 yuan at an opening price of 104 yuan, which rose to 112 yuan that afternoon.
Yang Huaiding quickly sold it and earned 800 yuan, which is equivalent to a year's salary in the factory.
Under the compound interest effect, Yang Huaiding made 100,000 yuan in two months.
With the expansion of the pilot program from the first batch of 7 cities to the second batch of 54 cities, Yang Huaiding's footprint has been almost all over the country, and the price difference between each Treasury bill can be as large as more than 10 yuan.
The poorer the place at that time, the cheaper the local treasury bill.
People's financial awareness at the time was also relatively weak. There were numerous obstacles to the issuance of treasury bills. In many places, the issuance of treasury bills relied on apportionment. The people who bought the treasury bills were eager to cash it out and sold them to banks at a 20% discount.
Banks are generally short of funds. Some banks have only a few hundred thousand yuan in start-up capital for the treasury bill business. Yang Huaiding took cash to buy it, and the local bank regarded him as a savior.
As a result, Yang Huaiding's principal rapidly expanded and soon exceeded one million yuan. In this way, he won the first pot of gold in his life by reselling the treasury bills.
The picture shows that in 2002, the Shanghai Stock Exchange joined the International Federation of Exchanges.
Photo by Xu Hui issued by China News Service
Take a punctual look and join the stock market
After earning his first million in his life, Yang Huaiding hired a few people to run across the country, and commanded by telephone in Shanghai.
According to Yang Huaiding's recollection, he subscribed dozens of newspapers at that time to analyze the financial situation and economic conditions, and at the same time pay attention to the newly opened stock counter trading market in Shanghai.
"In 1989, I saw an article saying that credit unions and banks had posted decades of profits and were on the verge of loss due to the increase in value-preserving interest rates. I felt that this was a signal that the interest rate was about to fall, and I decided to sell it. Drop the Treasury bills and buy stocks."
The first stock that Yang Huaiding bought in a big way was Electric Vacuum (now: Yunsai Zhilian), with a face value of 100 yuan, which had risen to a maximum of 140 yuan before it fell to 91 yuan.
Before buying, Yang Huaiding observed the stock for more than a year.
"At that time, there were several types of stocks, one was type A, the dividends were not capped at the top, and the bottom was not guaranteed; the second type was type B, and the bottom was not capped at the bottom; the third was non-A and non-B, both guaranteed and capped. Electric vacuum is neither A nor B. The maximum bonus rate is 15%, and the minimum is not lower than bank interest."
Half a year later, the stocks began to skyrocket, and the stock price of Electric Vacuum rose to 800 yuan.
Yang Huaiding went out for a month after dumping the stock, because he knew that a decline also requires a process.
The result fell until the end of 1990, when the two major stock exchanges in Shanghai and Shenzhen were established, and China's capital market officially set sail, and has since entered an era of vigorous development.
On the first day of the opening of the exchange, the electric vacuum opened at 365.70 yuan/share, and finally closed at 384 yuan/share. 1160 shares were traded. Yang Huaiding bought 500 shares by himself.
As a result, he made a lot of money and became one of the first big households in Shanghai.
The picture shows the aerial photography of the night view of Lujiazui, Pudong, Shanghai in 2020.
Photo by China News Agency reporter Zhang Hengwei
Make good use of funds and be called "civilian financiers"
As a well-known retail queen in the early stock market, Yang Huaiding also had a career as a "frustrated master".
In the early days, Yang Huaiding, who rode a bicycle to stock stocks, bought a Xiali in 1992 and became one of the few private car owners in Shanghai with a "Z" license.
Later, he sold the "Z" license plate for 200,000 yuan and bought a 70,000 yuan car with Zhejiang license plate, so he made another 130,000 yuan.
In 1993, Yang Huaiding bought two houses in Zhabei, Shanghai for less than 2,000 yuan per square meter, and later sold them for 7,000 yuan per square meter.
In 2002, he used stocks to make a profit to buy a new house with three bedrooms and two living rooms. The unit price was only 4,900 yuan per square meter. Now the price has increased by at least 30 times.
Yang Huaiding once had a witty saying in stocks: Don’t be a dead long, don’t be a dead short, just be a firm "slippery head";
He is so good at using funds, he is also called "civilian financier" by some university professors.
The most glorious experience is to walk on the platform of Peking University
After becoming famous, Yang Huaiding was often invited to give lectures and lectures all over the country, and published articles in newspapers and periodicals.
Among them, Yang Huaiding was most honored in October 2000, as a junior high school graduate, stepped onto the podium of Peking University to teach graduate students and MBA the concepts and practices of the securities market.
"I am a beneficiary of the market, and also a beneficiary of reform and opening up. In this market, we not only made money, but also found a place where we can use our talents and realize value." Yang Huaiding said.
He also founded a company and developed the "Yang million decision-making operating system" with his son. He has published many monographs, including "Being a Stock Market Winner" and even won the "Best Business Book of 2007".
Screenshot from Dangdang.com.
In the preface of the book "Being a Stock Market Winner," Yang Huaiding wrote: "The stock market is a social university of finance and economics without walls. There are only repetitions and restudies, and there will never be a graduate."
Looking back on Yang Huaiding's career, he has managed to escape from the top several times and is highly respected by investors. He has also caused controversy for supporting PetroChina stocks.
Nowadays, Yang Huaiding has "graduated" from this world, and his "securities market looks at the general trend to make big money, looks at the small trend to make small money, and if you misunderstand the trend, you lose money." "." and other quotations have still become the motto of many investors.
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