3 years ago, Ren Zeping, who was deeply appreciated by Xu Jiayin, was paid by Evergrande with an annual salary of 15 million yuan, becoming the "most expensive economist in China" and famous all over the world! 1 year ago, the Evergrande crisis broke out in full swing, and Ren Zeping, who did not stand under the dangerous wall, took the gorgeous withdrawal as a reward for Mr. Xu's big pattern.
After bidding farewell to Evergrande, Ren Zeping began a journey of "high open and low walk", first joining Soochow Securities in a high profile, and then several times because of sharp speeches on the cusp of the storm, recently more because of nonsense comments on relevant policies were banned, more absolutely, some media exposed that Ren Zeping in Soochow Securities is actually an unlicensed non-staff personnel, and the responses of Soochow Securities and Ren Zeping himself are also vague, for a time, suspicious clouds
What are the "secrets that can't be said" between Soochow Securities and Ren Zeping? Has the fame and fortune of the chief influencer economist come to an end?
01, Soochow Securities hugged the wrong "thigh"?
Recently, due to the media exposure of Ren Zeping in Soochow Securities "unlicensed post", causing public opinion to discuss, as the most well-known economist in China, Ren Zeping is a fragrant food in the eyes of securities companies, especially some local securities companies, in order to attract Ren Zeping, it can be said that 100% sincerity.
Leaving Evergrande to join Soochow Securities, there is a well-known financial big V "Cao Shanshi" directly exposed the conditions offered by Soochow Securities: 10 million fixed annual salary + chauffeur-driven treatment, the problem is, open such a courtesy, it is not in the staff, what is the cattiness here?
Based on the known clues, Ren Zeping and Soochow Securities currently have at least 3 compliance risk issues:
The official website checks that there is no such person!
There is no basis for the mouth, and the inquiry to the official website of the China Securities Association learned that Ren Zeping did not have any filing registration information related to Soochow Securities, and the last registration information was cancelled from Founder Securities on December 13, 2017.
"Because of the particularity of the securities industry, if it is not the official staff of the securities company, it cannot engage in the main business, and if it is still publicized as a securities company, it is obviously a violation," said a compliance expert of a securities company.
Labor or labor contracts?
On January 19, 2022, in response to questions from the media and netizens, the Financial Associated Press published the response of Soochow Securities, saying that Ren Zeping is the special chief economist of Soochow Securities, qualified as a securities analyst, and the services provided by Ren Zeping for Soochow Securities, including speeches at the strategy meeting held by the Institute and institutional exchanges organized by the Institute, are all subject to compliance review by the Soochow Securities Research Institute.
From this point of view, Soochow Securities admitted to the employment relationship with Ren Zeping, but in response to everyone's concerns about why it was not registered, Soochow Securities selectively ignored it, and this is precisely where the major doubts lie.
Because after leaving Evergrande, the outside world generally believes that Ren Zeping joined Soochow Securities is a formal establishment, so the views expressed by Ren Zeping will also be considered to represent the professional research views of Soochow Securities and have an impact on the investment of investors.
On April 6, 2021, Ren Zeping released a report with the title of "Chief Economist of Soochow Securities"
However, in soochow securities' latest response to interface news, we see another explanation, Soochow Securities said that it signed a formal labor contract with Ren Zeping, while the informal labor contract, labor contract and labor contract nature of the difference can be great.
According to the relevant laws and regulations, the two parties to the labor contract only have a property relationship, the legal status of the two parties is equal, there is no subordinate superior-subordinate relationship, and the party providing the labor service does not have to become an employee of the employing unit.
The chief economist of a securities company should give full play to his important influence in the industry, and focus on the economic and financial situation, capital market and industry development, etc., professionally and prudently publish research views, and play an active role in guiding market expectations and transmitting positive energy.
In May 2020, Article 5 of the Code of Practice issued by the China Securities Association clearly requires that "those who publish research views and provide research services in the name of the business organization must be regular employees of the company".
The question also comes, since you Soochow Securities and Ren Zeping only have a labor cooperation relationship, what right do you have to restrain the specially invited economists, and what qualifications does Ren Zeping have to publish research views in the name of securities companies? How can the compliance of the cooperation between the two parties be guaranteed? Since it is not a regular employee, should Soochow Securities be open to the public at the first time? If it is not discovered by the media, will investors continue to be kept in the dark?
Blatantly selling lessons!
According to Interface News, in Ren Zeping's article "Ren Zeping: 2022 China Economic and Policy Outlook - Speech on the Annual Summit of the International Gold Market", Ren Zeping attached his own selling class information and QR code to the article, and the strange thing is that Ren Zeping's public account can no longer be searched.
According to market reports, Ren Zeping also sold annual VIPs on the short video platform, 50 online recording classes, the price of 2980 yuan, as of September 13, the member has sold 621.
The ultimate attribution of Internet celebrities is to bring goods, but in the strongly regulated securities industry, Ren Zeping, as a researcher of the seller of securities companies, openly peddled his own economics courses, which is obviously out of line with regulations.
Nowadays, the compliance controversy about Soochow Securities has risen one after another, and it is still unknown whether it will be implicated, and Ren Zeping's golden signboard has, to a certain extent, become a "thunder point" hanging over the head of Soochow Securities.
02, Internet celebrity economist, not working?
Science needs to be rigorous, the economy needs to be argumented, whether it is a scientist or an economist, in essence, it is necessary to rely on data and conclusions to speak, once clinging to the idol in front of the stage and from the treatment of Internet celebrities, it is not far from the overturning, so we see "let science pop" Wei Kunlin short-lived, "violent theory 5000 points" Ren Zeping, many times hit the face ...
Not long ago, Ren Zeping was banned because of the violent theory that "the central bank printed 2 trillion yuan more to increase the fertility rate", and as of the time of this article, Ren Zeping was still in a state of being banned. Regarding Ren Zeping's face-slapping past, it is limited to space and will not be repeated.
The authority that is dissolved by "entertainment" and "repeated face punches" is the price that Ren Zeping economists pay for competing to become Internet celebrities, of course, for them, even if they roll over, it will not affect the annual income of millions or even tens of millions, but their "fallacies" may bring serious harm to society or the industry if they are not strictly controlled.
There is no authority anymore, is ren Zeping's professionalism still trustworthy?
Another economist, Liu Shengjun, once hit the nail on the head: "We cannot conduct realistic research based on objective reality, but aim to please and cater to policy decision-makers, which has led to a major misdirection of evergrande group and Xu Jiayin about corporate strategy and direction"!
In fact, Ren Zeping's violent style has long been traced, as early as 5 years ago, he was criticized by the CSRC for using obvious exaggerated and inducing headlines such as "changing the sky", "dry, 20% space", "recuperation, I am waiting for you in the spring", etc.
But these years have passed, the style in his bones has never changed, and some people in the industry have even ridiculed that if Ren Zeping is not an economist and rewrites boiling articles, I am afraid that he is also a first-class good hand.
As for why Ren Zeping always sings high-profile and uses the title party, there is also a gray logic chain that is not easy for outsiders to say:
Ren Zeping's professional identity, called the Internet red seller analyst, generally write a report or pass on the view through the self-media, if it can trigger market repercussions and form a linkage of upstream information to the downstream stock price, it means that the analyst contributes greatly to the market value of the broker, and to maximize the spread of views, with exaggerated headlines and horror tones, it is a minimum but the fastest way to achieve results, so such a "dirty move", Ren Zeping, who has an annual salary of tens of millions, has tried and failed.
Lang Xianping is in the front, don't expect too much from the moral level of economists! As long as it is not illegal, how to maximize the benefits is their duty, which is the truth that brokers are willing to hire them at a high price.
Therefore, after these economists join the brokerage, how much reference value the views or reports released by these economists are in itself a topic worthy of deep consideration by the industry.
In November 2020, two analysts from Guosen Securities were reported by iKang Guobin under their real names, on the grounds that in the process of writing the report, instead of seeking verification or consultation from iKang Guobin, they made misleading statements on their own initiative, which ultimately had a negative impact on the normal operation of iKang Guobin.
In March 2021, the chemical industry group of Guotai Junan Research Institute was publicly reprimanded by Liu Yinjiang, secretary of the board of directors of Sanyou Chemical, for spreading rumors, at that time, an analyst surnamed Ju of Guotai Junan said that sanyou chemical cost 1500 yuan higher than a viscose enterprise in the west, and Liu Yinjiang angrily said, "Have you investigated?" Have you checked? ”。
In January 2022, the former chief analyst of Zhongtai Securities was involved in insider trading, and the concept stock involving Huawei's car was caught...
Trust is like a piece of paper, when these chief economists/analysts are only speaking for their bosses or even testing the law for profit, the collapse of credibility is only a matter of time!
Resources:
1, is Ren Zeping unlicensed? Soochow Securities' latest response is coming - Jiangsu Financial Circle
2, Ren Zeping was on the job without a license, and Soochow Securities was shot - NetEase Finance
3, just "outside the fabrication"? Ren Zeping's view of "overturning" is trapped in the cloud of identity doubt - Observer Network
4, an alternative "net red" Ren Zeping - city boundary
5, figure source network