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Investors say they are “under the basket”, the broker makes a big profit, is there a story about the investment firm “playing football and blowing the whistle”?

Many stockbrokers recommend investors to buy stocks at low prices, but then take profits themselves at a higher average price, leading investors to believe that this is nothing more than “playing football and blowing the whistle at the same time.” ‘ makes them ‘ruthless’…

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Investors say they are ‘under the basket’?

The transparency of a securities firm’s operations is still a major question mark for the securities investor community when a firm engages in both proprietary trading and securities brokerage activities. . This raises concerns about a conflict of interest between investment firms and investors.

This topic is becoming a “hot” topic on securities forums, especially after investors found out that S… (a company with a leading brokerage market share) was about to recommend investors to buy STB shares in the price range of VND 32,000/share buy , AER in the price range of 32,000 – 33,000 VND/share.

But at the same time, this proprietary securities company took profits on STB shares with an average price of 33,480 Dong/share and on VRE with an average price of 33,790 Dong/share.

“Through this incident, renewed calls for the SSC to ban investment firms from trading both as brokers and as self-dealing securities has created serious conflicts of interest and made investors victims of investment firms. Share. Not to mention that the investment firm can scan investors’ accounts to know the status of the accounts. When the market is unsecured, investment firms can fully calculate which codes need to be released in order to lower the prices of those codes so that the trading desk can buy them at a cheaper price. NVL investment said.

According to VLL investors, investment firms should be prohibited from proprietary trading or disclosed information and reported buy/sell transactions 7 days in advance.

GCL investors are discussing this topic and believe that investors, especially F0, should arm themselves with basic knowledge after participating in the market, so as not to be influenced by investors’ buy/sell recommendations. securities company.

According to Mr. GCL, investors, no matter how much money they have, are just salt in the pool when there is no knowledge, only money.

“The securities house has significantly lower capital costs than the subsequent buyers. It’s fine to stick to the list they do business with, but you need to have the knowledge to find out when they recommend the price is cheap? Has the price gone up a lot? And the most important thing is to last long to win,” said investor GCL.

According to this investor, the fact that a securities firm makes recommendations is like a product advertising business. If consumers believe it, they will buy it, if they don’t believe it, they won’t buy it. Instead, to stay in the market, investors must experience failure and learn valuable lessons from it. When the element of vigilance, the control of greed, and the winning formula are forged as a habit honed over the years, investors have won against themselves.

“Nobody wins 100% in this market. Investing 10 stocks, winning 6-7, losing 2-3, or drawing 1 is already a big hit in the stock market. So instead of blaming others for your failures, look at yourself to reset yourself, improve your level… Stocks aren’t everything. “ – GCL investor advises.

The securities house’s proprietary trading activities gained strongly

The financial statements for the first quarter of 2022 for many securities firms show that proprietary trading activity increased sharply and contributed significantly to the firm’s overall profit.

For example, Saigon Securities Joint Stock Company (SSI) announced its consolidated business results for the first quarter of 2022 with revenue and pre-tax profit of VND2,068.4 billion and VND883.3 billion, respectively, increasing 36.2% and 66 .6% corresponds. compared to the first quarter of 2021.

The income from securities brokerage activities reached VND 599.5 billion, up 37%. In particular, investment activity recorded revenue of 633.2 billion dong, up 5.6%.

VNDirect Securities JSC (VND) also released its own financial report for the first quarter of 2022, showing revenue of VND1,767 billion, up 61% from the same period last year. The company’s profit before and after tax was Dong 956.3 billion and Dong 762.2 billion, respectively, up 48% over the same period. This is the record quarterly profit that VND has achieved since its inception.

Notably, the profit on financial assets recognized in profit or loss (FVTPL) reached more than VND 664 billion, up 45%. In VNDirect’s proprietary trading portfolio of listed shares, PTI shares have the largest share with a fair value of nearly 952 billion dong and also the most effective investment when the original price is only nearly 267 billion dong. In addition, this securities firm also holds a variety of shares in NLG, VPB, MWG, LTG,…

Similarly, VIX Securities Joint Stock Company (Code VIX) also announced its own financial results for the first quarter of 2022, with a proprietary trading portfolio of listed, unlisted stocks and bonds up nearly VND1,000 billion compared to the start of the year. to nearly VND 2,600 billion. Meanwhile, the original price was listed at 2,393 billion dong, temporary profit of more than 200 billion dong.

And BIDV Banking Securities Company (BSC) also just reported a 36% increase in Q1 earnings thanks to a big gain in proprietary trading. Profit from financial assets recognized through profit or loss (FVTPL) rose 33% to dong 97.2 billion over the same period. As of March 31, BSC’s proprietary trading portfolio had a fair value of VND1,282 billion, up nearly VND240 billion from the start of the year.

Listed stocks with a large share in BSC’s portfolio include STB, TCB, VIB, PET, TDP, MIG, with TCB, VIB and PET being the stocks bought heavily in the first quarter. PET is the most effective investment in the portfolio, temporarily registering a profit of 21 billion dongs while the original price is just over 28 billion dongs.

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