It's 2:51am on Wednesday, I am catching up my diary for Monday now.
It's always a busy day on Monday. Coming back home and having dinner, I had slept for 3 hours until almost 11. Glancing on my cell, I found my classmates at CUMT starting the trash talk again. The contents were actually pretty serious most of the time but the way we teased each other sounds humorous.
I joined the discussion and we focused on stock markets for quite a while. Someone seemed making almost RMB 10,000 yesterday. I asked them what level of money Chinese generally put into trading accounts now. My dorm buddy in mid-80s at CUMT told that from a couple of thousand RMB to over 10 million are all considered poor. I recall in early 90s when I traded in Chinese market, average traders input tens of thousands and those who treated trading as their professions generally put at least 500K into the trading accounts. However, after 20 years, 10 million is no longer an incredible benchmark. It was mentioned in the discussion someone in the chat group ever lost 2.5 Millions a day on paper because his capital was 30M. It's a huge loss but still understandable because it's within 10% volatility limits Chinese government sets.
I shared my knowledge about US traders nowadays that everyone is trading options. Raising an example, I mentioned that Twitter's stock price was up 2.01% but December Call at 33 bucks was up 21.89%, you put the same amount of money into the trade but gained 10 times more. Of course, you could lose 10 times more too. Actually, after earning release yesterday afternoon, its price dropped by 11% in aftermarket hour, then you probably lost every penny in that December call. The advantage of trading options is that you can put very small amount of money to gain meaningful profit to meet end needs, the risk is that you could lose everything pretty quickly.
Later on, the investing triggered me to think about my property in Beijing on which the compensation of demolition still hasn't been paid. The original assessment was almost RMB 20M 10 years ago but the final agreement dropped to 4M combined with cash and an apartment. However, Chinese government seems not intending to fulfill the commitment.
The clip is part of the entire video I filmed in the summer in 2004 when I went back to Beijing to see my parents and my son. It was a very beautiful property then.
Ok, it is 1:19 am on Friday now, I am about to post this diary I drafted on Tuesday but just finished a minute ago...