How can I get to the Jiapin center of Dongba from Shifoying
this "chief" is actually equivalent to the deputy director of the Institute. Because of their seniority, influence and years of persistent research, some people jokingly call them "ashes" researchers. However, people who meet for the first time will be surprised that Yao Wei, who has been known for a long time, turned out to be a modest, thin and tall young man just 30 years old< Yao Wei, 30 years old, is very young and energetic. However, for him, who has been a chief researcher in the instry for six or seven years, he can be called "the old revolution". Yao Wei's research focuses on the field of electric power and other public utilities. Because of his leading research logic and the influence of research reports, and as the consultant of SASAC and several listed companies, he has a high degree of cognition and recognition in the electric power instry and listed companies, and is often regarded as the "leading big brother" by new researchers in the instry<
at present, there are more than 80 people in Guotai Junan Research Institute, of which a considerable proportion have worked for less than three years, and less than 40% have worked for more than five years. Yao Wei thinks he is the proct of the last bull market
in 2000, the market was very good, the stock market continued to rise to 2000 points, and the securities companies expanded the enrollment of researchers on a large scale, and did not limit the instry threshold. Yao Wei, who studied physics at Tsinghua University for seven years, entered Guotai Junan and began to be an analyst at the end of 2001“ At that time, graates from all kinds of ecational backgrounds entered the instry. " However, when Yao Wei entered the securities instry, we didn't do much in-depth research, and the companies paid far less attention to the research than they do now. In addition, the bear market continued later, which was a hard time for many people in the securities instry. However, Yao Wei did not waste his time. In the past few years since 2002, Yao Wei has published an average of 1.5 reports a week, with a total of more than 70 reports a year. The workload is the largest in the instry. He once wrote 14 research reports on Huaneng International in one year. The cruel bear market has also cultivated a large number of researchers who firmly believe in value investment in Guotai Junan Research Institute
until later, the concept of value investment was recognized and verified by the market. Research has changed from a "cover" to a "gun". In the chain of securities companies, almost all businesses are related to research. From the brokerage business, investment bank mergers and acquisitions, self business to investment business, internal management, research is necessary. The leaders of Guotai Junan company pay more attention to the research institute than ever before. More than half of the managers of Guotai Junan's business departments go out from the Research Institute. In the words of the president of the company, "only professionals have food."<
Yao Wei said that the bull market is a good stage and the greatest happiness for researchers“ In the bull market, elephants can dance. For a person who wants to be a conctor, if he is faced with hibernating bears, even if your movements are beautiful, he has no sense of accomplishment. " Thanks to the bull market, Yao Wei is still rational. He said analysts should be the most rational people in the market, even when everyone is enjoying the bubble.
"in the past, Guotai Junan Research Institute was very uncomfortable, because there were many old researchers and experienced many ups and downs. Some people thought many events were very important at that time, but after lengthening the time axis, they found that they were actually small waves." Yao Wei also admitted that the old researchers are less sensitive, while the famous researchers are more cautious. Although the senior researcher has a wide range of contacts and sufficient experience, he may be too conservative and let go of some market opportunities. As a result, he is complained by customers, so he is also facing greater pressure. Some investment managers laugh at them: you are all from the bear market, you are all bear hair, not a few cattle hair“ If the market lags behind, we must change it. In addition, if the market is too irrational, we will certainly avoid it. Let customers continue to make rational money, customers can understand. It's true that commanding an elephant has a sense of accomplishment, but it's also terrible for an elephant to go crazy and be trampled to death. You can't go mad with an elephant. "< At present, Yao Wei's research covers 16 companies in the power instry, including 13 large companies, which are in the position of index stocks. Speaking of the classic, Yao Wei is very happy: "for example, Huaneng International, someone commented that it is my favorite." Yao Wei wrote a lot of reports about this company. This company has been branded by Yao Wei. Market evaluation shows that every time it goes up, it has a direct relationship with Yao Wei, and every time it goes down, it may be accompanied by some judgments of Yao Wei
electric power is a big instry. A few years ago, its market position was almost the same as that of banking stocks. Many excellent analysts and investment managers emerged in this instry. For example, there are fund managers from Nanfang, e-fonda, Shangtou Morgan, etc., and researchers from the power instry... The steady growth of this instry brings many opportunities. Yao Wei thinks that everyone's mentality is relatively stable< Yao Wei said, "I am a typical risk averse person. My character is conservative, which is in line with the characteristics of the instry I study. Public utilities are completely defensive." Yao Wei would recommend it to customers only when he had a deep understanding of the company, and customers graally became familiar with his personality, and accepted his prudent research attitude and rich research experience<
SDIC power is a perfect case of value discovery made by Yao Wei. At the beginning of 2004, when it was ST company, Yao Wei began to recommend it. At present, the company is basically a white horse company recognized by the market. Of course, the process of value discovery is usually as follows: at first, everyone doubts his recommendation, then they disagree, and then everyone agrees with him. Now, Yao Wei thinks it is necessary to fade out of the research on the company, because the marginal benefit of the research is relatively low and new investment opportunities are needed when everyone's views are homogeneous“ Looking at it from a small black horse to a big white horse, this process is still very enjoyable. Yao Wei said
later, in the process of exploring Baoxin energy and Jinshan shares, Yao Wei thought that they had changed their research ideas and instry perspective. The reason for this is that in the past, power companies were all big companies, believing in "only origin", and the core state-owned big companies were congenitally good companies. But Jinshan shares and Baoxin energy, two private listed companies, have seized a small share of the market. Their market-oriented system and mechanism, project optimization ability, keen market vision, outstanding cost control, and good use of the capital market resources allocation have led to the rapid and unconventional development of the company, which also gives Yao Wei a different understanding of the instry“ The power instry is different from other companies, with relatively small fluctuation and stable income. More decisive factors lie in the front end. If the front end is solved, there will be no great pressure on the back end. " "There's no need to climb into the boiler to look at power company research, because power companies are standardized," he said At that time, other researchers recommended it, but Yao Wei's analytical logic and method were obviously more accepted by the market. Since his recommendation, the stock price of Baoxin energy has performed astonishingly, and it has increased tenfold in one year
in the bull market since 2006, the recommendation of leading companies such as Changjiang Power, Huaneng International, Shenzhen energy, Guangzhou holding and Guangdong electric power has also been quite successful, and the big rhythm of stock price performance is quite consistent with Yao Wei's recommendation
with these stories, Yao Wei himself has developed from the most junior researcher in the instry to the most senior researcher. When he entered the instry, he said he didn't know anything and looked at many seniors and thought they were unattainable. In recent years, with the change of securities instry and the continuous progress of seller research, Yao Wei seized many opportunities. Probably in the third year of the instry, it has been the first in the instry, and has remained so far<
adhere to instry changes
Yao Wei's career experience is also accompanied by the changes of the power instry he studied
from the beginning to 2002, the power instry was in a depression. Through continuous tracking and analysis of some conventional indicators of the instry, Yao Wei found that the indicators of the power instry and power generation companies are graally getting better. Therefore, since 2003, he took the initiative to point out that the turning point of the power instry is approaching. The power shortage that lasted for nearly two years later verified this judgment, and the power instry also became one of the "five golden flowers" in the local bull market at that time, among which Huaneng, Changdian and Guotou power stocks performed quite well
after 2004, coal price soared, cost pressure increased, and a large number of new units were put into operation, which made the utilization rate of units decline. For a time, the instry was in a terrible situation, and even made a loss in the first quarter of 2005. However, through careful analysis and calculation of the core elements of the instry, Yao Wei pointed out that the low point of the instry fluctuation is better than the general expectation, and the instry will pick up again after 2006. However, this view has been doubted to some extent. Even within a year after the instry's profit margin has gone better again, quite a few people are excessively pessimistic about the instry. In the second half of 2006, Yao Wei strongly recommended the electric power instry, pointing out that the performance of the instry's stock price completely ignored the significant rebound of the instry's prosperity beyond expectation. At the end of the year, he wrote a research report entitled "boom and asset injection, water and fire leading and regional strong dancing together", which comprehensively and predictably described a large number of investment opportunities in the instry, It is known as the "programmatic" report of power stock market in 2007. Along with a series of instry and company reports, the power stock also caught up with the bull market in early 2007 and walked out of the eye-catching market
therefore, Yao Wei believes that "the most leading recommendation is of course important, and sometimes it needs more introspection. If you find yourself right, you need more persistence."<
Yao Wei's research should not only cover the power instry itself, but also focus on the upstream coal and power equipment and some downstream high energy consuming instries. It's a longitudinal axis, and there's also a transverse study. For each province and region, if the supply and demand costs change, we should not only consult the enterprise, but also directly ask the power plant“ Relatively speaking, the research of power listed companies is not decisive, but it can play a verification role. In addition, regular visits to the development and Reform Commission and other departments are also needed. "< Different from other competitive instries, Yao Wei stressed that the most difficult part of the power instry is not to find excellent enterprises through research and other means, but to grasp the major development trend from public information. For example, the previous analysis of the power instry was based on the "origin theory". Later, in 2004, he graally established the analysis of three factors: electricity price, coal price, and unit utilization rate. From these three indicators, we can observe the changes of the instry, predict the changes of enterprise profits, and predict the changes of enterprise profits
There is a big gap in the treatment of researchers in futures companies
a good company researcher's annual salary is 300000, and a poor one may only be 50000
on the one hand, it is related to futures companies. Naturally, there are many companies with strong profitability, and of course, the entry threshold is also high! Usually 211 or 985 efficient students are needed. On the other hand, it has something to do with the indivial. I believe it will have a good result
futures researchers need to have their own characteristics and unique views on a variety, in order to attract large capital customers
note: specialty is far more important than you know. Concentrate on a variety, study the upstream and downstream of the instrial chain carefully, find out the relationship between supply and demand, and believe that you will succeed
it is suggested to pay attention to proceral trading
even professors have no special treatment in politics and life. They are paid normally, but they only undertake some scientific research work. Of course, some countries will give corresponding treatment to professors with special achievements and contributions, but after all, there are few such professors
a professor is a professor. He is a professional title in a university. He has no administrative level, except when he becomes a leader.