Can't play in a bull market against new investors, so I'm not playing anymore to avoid embarrassing old investors.

Today, I cleared out my A-share account of China Merchants Energy A shares, leaving 20% cash.

The 80% position switched to China Mobile also counts as cash, with a 4.5% dividend yield cash.

The A-share account is considered to be in a state of empty warehouse to avoid the bull market.

Why is the H-share account still fully invested in China Merchants Energy H shares?

H has no pressure from margin financing, so H should buy back if it breaks the net asset value.

Why keep so much cash or cash equivalents?

1, many people started asking me what stocks to buy in a bull market.

2, some retired colleagues just opened accounts and asked me what stocks to buy.

3, several nephews reported good news to me; making money in a bull market is too easy.

4, several gaps, huge volume, and it hasn't adjusted at all, end of August to early September...

5, it's not a slow bull, it's a crazy bull, in the internet age.

6, aiming for a 10% profit each year, completed the tasks for this year and next year in just 8 months. At this age, I should at least take a 4-month vacation to rest well and recharge for next year.

7, most afraid of a bull market; in 2015, during the big bull market at 5178, I only made 30%, almost got liquidated. This year I made 10% less, just live a few more years.

8, almost at 4000 points, rising to the point of fear, although the valuation of China Merchants Energy AH is cheaper than more than 95% of the stocks, and even though China Merchants Energy hasn't risen much in the bull market, it may catch up in the future.

9, finally not fully invested in a single stock anymore, at least heavily invested in two separately.

10, my mentor approved me to reduce my holdings and switch stocks.

Hope the bull market goes well, 4500 is not too much, 5000 is even better, after all, I am still heavily invested in China Merchants Energy H and China Mobile A, waiting for account net value to hit a new high.

Not discussing the fundamentals, valuations, and performance of China Merchants Energy and China Mobile... because new investors don't understand, so the bull market basically ignores these.

Don't copy homework, can't copy. I bought China Mobile with margin financing yesterday, cost about 109.1, sold China Merchants Energy A today to pay off the financing.