Guaranteed return to value investment

Investing in the stock market has always been high-frequency trading of stocks to gain profits, but in this case, the stock market fluctuates wildly and gambling prevails, and the stock market becomes synonymous with heaven and hell. In order to ease the sharp fluctuations, people of insight put forward value investment, which can get very considerable investment returns without high-frequency trading and long-term investment. Among them, there are stock splits (send to increase shares), distribution of dividends, repurchase of shares and distribution of derivatives. and other methods. Share splitting (sending and converting shares) is simply the addition, subtraction, multiplication and division of shares without any actual return. For dividend distribution, ex-rights and ex-dividends are the market price of the stock minus the dividend distribution price and deducting the dividend tax to get the market price after the dividend is distributed. It looks like I got a cash return, but in fact, the account funds have not increased, but the account funds have decreased due to tax deduction. After ex-rights and ex-dividends, if the interest is not filled and it falls, it will be a loss at all. It is said that long-term investment can be repaid by distributing dividends. Who can make such a long investment in ten or twenty years of paying principal and interest and making money. Share repurchase can reduce the number of tradable shares in the market, improve the liquidity of market capital, and increase the opportunity for profitable trading. It can grant shares to employees and executives for equity incentive purposes. If it is repurchased and cancelled, the total number of shares can be reduced and the book intrinsic value of each share can be increased. The disadvantage is that Public companies drain too much cash flow and long-term shareholders large and small have no cash flow in their accounts unless they sell their stock. Derivatives are complex, and the trading rules are complex, dangerous and difficult to grasp and have a strong gambling nature, but their flexible trading and targeted trading rules can solve various complex financial solutions of listed companies. All of the above schemes have their own advantages and disadvantages and also have good operability. After weighing the advantages and disadvantages day and night, I feel that the following schemes are for investors' reference only. 1. The repurchase rate in the financial statements can be compared to the dividend rate. The distribution of call warrants corresponds to the repurchase rate. All dividends can be used for repurchase and then use warrants to subscribe for repurchase without paying dividends. 2. Listed companies repurchase shares for the company's special use (treasury shares), 3. Distribute 0 yuan subscription warrants to shareholders who can subscribe for the repurchased (treasury shares) as shareholder returns instead of paying dividends for shareholders, which can be exempted from The loss of the market price without the right to be filled after dividend tax and ex-rights and ex-dividend. 4. After the call warrants are exercised, the stock price can be repurchased (treasury stock) at the average price as the guaranteed minimum price to buy to the listed company, and the stock price is higher than the guaranteed price, it does not need to be controlled. 5. It is also possible to repurchase shares and cancel them, and then issue 0 yuan subscription warrants and distribute them to shareholders to subscribe for new shares. This plan is the most realistic and can be directly operated without too much discussion. The distribution of call warrants is also very beneficial to major shareholders. Major shareholders can use call warrants to exercise their rights and increase their shareholding. They can also directly sell call warrants to get cash. Some people will say why not directly distribute shares to all shareholders, why issue call warrants to exercise their rights. Such a hassle! But you have to know that if the major shareholders get the distribution, the shares will be combined. According to the law on the reduction of the major shareholders of Chinese listed companies, it is quite troublesome and not recommended, but the major shareholders lack cash returns. The shareholding is patient and the shareholding structure is volatile. After I wrote it, I felt a lot of emotion and said how great and passionate value investing is, but you don't even have a guaranteed return on basic interests, so what's the point of value investing！