Investors Shift Focus from Yonghe Lama Temple to Zhouyi Masters for Fortune-Telling
This year, investors have shifted their focus from seeking guidance at Yonghe Lama Temple to consulting Zhouyi masters for fortune-telling services. At the same time, Baiyun Temple’s monkeys are off-limits to visitors. The world of private equity funds is experiencing a wave of unconventional practices, ranging from fortune-telling and revising family histories to selling self-media courses and diverting traffic to securities firms. These irregularities are becoming increasingly complex, deviating from the core business practices of private equity funds.
Recent findings from the Shenzhen Securities Regulatory Bureau have shed light on these irregularities within private equity funds operating in their jurisdiction. Several alarming cases have been identified, including fund managers selling self-media courses or recommending clients to securities and futures companies in exchange for rebates, colluding with market institutions for interest transfer, and charging exorbitant consulting fees. Some fund managers have even engaged in questionable market practices like buying high and selling low with their own funds, illegal fundraising, market manipulation, and off-exchange margin trading.
It is notable that fortune-telling has emerged as a prominent activity within the venture capital and private equity circles. Consulting masters for insights on feng shui, interior design, and even investment returns based on institutional partner photos has become customary. Some investors have shown a keen interest in “metaphysical funds,” prioritizing the study of the Book of Changes over traditional financial reports. This trend underscores a shift in the industry’s approach to decision-making and risk assessment, with some individuals placing greater trust in metaphysical guidance than conventional financial strategies.
The report also exposes a range of distractions within private equity firms, such as selling courses, displaying fund practice certificates, and engaging in activities like fortune-telling and genealogy revision. Notably, management fees and performance rewards in some institutions account for a minimal portion of their income, with revenue stemming largely from secondary activities like selling investment courses and facilitating client referrals to financial firms. The burgeoning trend of these firms venturing into unrelated businesses jeopardizes the integrity of the private equity sector and raises concerns about compliance and ethical standards.
Beyond the realm of private equity, the practice of seeking spiritual encounters for investment luck is not uncommon. Investors often visit places believed to exude positive energy, such as Tanzhe Temple in Beijing’s Mentougou district. This ancient temple, revered for its historical significance and serene surroundings, serves as a retreat for investors seeking relaxation and spiritual nourishment amid the pressures of the investment world. The temple’s peaceful ambiance and religious rituals offer a sense of solace and hope for success in professional endeavors.
Similarly, the Yonghe Lama Temple and Baiyun Taoist Temple attract a plethora of investors seeking divine intervention for auspicious outcomes in their investments. These spiritual sanctuaries offer a tranquil retreat for individuals grappling with the uncertainties of the financial markets. The Baiyun Taoist Temple, in particular, is revered as a hidden gem among middle-aged investors, providing a sense of serenity and good fortune for those who frequent its sacred grounds. These temples serve as a sanctuary for reflection, meditation, and seeking blessings for prosperity and success in the unpredictable world of investments.