Simon's 'step by step' approach to the new technology industry is to sit firmly in the Diaoyutai.

In 1996, the Westeros system had already completed its response to the post-bursting of the new technology bubble, and the core new technology companies had considerable cash reserves in their hands at this time, and they were no longer involved in excessive speculation.

For Julian Robertson, the head of the Tiger Fund, these days have been like pins and needles.

As a staunch bearish on the new tech industry, Robertson initially also believed that the Nasdaq would turn around in December last year, and it would not survive in January at the latest, so even without Richard Mellon Scaife's side, he actually intends to put down all the funds of Tiger Fund just to give it a go.

However, December 1996 has passed, January 1997 has passed, and now, the time has entered February 1997.

Compared with the 5,426 points at the end of the U.S. election on November 6 last year, the Nasdaq not only did not turn, but the past Friday, under the pressure of their short capital, the Nasdaq index still hit a new high, reaching a high of 6,437 points.

In three months, the cumulative increase has reached 18%.

Tiger Fund began to build positions after last year's election, which was completely completed in late December, holding nearly $50 billion in various short contracts with a total principal amount of about $12 billion and an average leverage of three to five times. This past Friday, the cumulative book losses of all short positions reached $7.3 billion, and the losses have exceeded 60%.

More than half of the losses were lost.

Due to the large size of the positions, Robertson has had to close some positions in order to ensure sufficient margin ratio.

Now, the most important question for the hedge fund tycoon, who has risen with Soros in the past decade, is whether to completely liquidate his position and admit defeat.

Or, the last stand?

Julian Robertson firmly believes that no matter how flexible the economic bubble is, it will not escape the laws of the economy after all, and anyone with a discerning eye knows that the bubble of the Nasdaq is very serious at this time, and it may burst at any time, even if the vested interest groups led by the Westeros system use the power of the entire country to continue the life of the Nasdaq, the result cannot be changed after all.

Perhaps, tomorrow!

New York.

Even though it was Sunday, most of the day, Julian Robertson was still working at Tiger Fund's headquarters in Downtown, just after 3 p.m., mainly to reassure investors from all sides.

It was a sunny day at the end of winter.

It's still cold.

Approaching four o'clock, leaving his office, Robertson drove to the Upper East Side, where he met his longtime friend, George Soros, another hedge fund mogul, in a café.

The two greeted and sat down, waiting for the waiter to bring coffee and leave, George Soros looked at Robertson, who was looking at the sunshine on the building outside the window, and asked, "So, how are you doing?"

Julian Robertson came to his senses, took a sip of his somewhat hot coffee, and paused before saying, "I'm going to wait another month." ”

Soros didn't take the liberty to find out how much the other party had lost, thinking that it was more than half of the certainty, and he was silent for a moment before saying: "Or, it's not bad for you to clear your position now, bet on Southeast Asia with me, if everything goes well, you should be able to recover most of your losses this year." ”

Julian Robertson shook his head and smiled wryly: "George, you should know that I am clearing my position now, and investors will definitely ask for liquidation, and I have no chance to turn to Southeast Asia." ”

Soros could only be speechless again.

Everyone knows that hedge funds are high-risk investments, but if they lose too much, investors will still ask for a withdrawal.

It can be said that unless there is a miracle next, Tiger Fund has only one way to go.

Soros, who has been quietly laying out Southeast Asia since last year, has not participated in betting on technology stocks, but has always been paying attention to the trend of the Nasdaq market, as of the closing of 6437 points the day before yesterday, in his opinion, it has completely reached an outrageous level, you know, at the beginning of this decade, in 1990, the Nasdaq was only about 300 points, in just seven years, it soared 20 times, and no country's normal stock market can reach this level.

However, it is not normal, but everything is still happening.

There is no end in sight.

Soros has also recently become increasingly convinced that Ygrete has the potential to become the first company in the history of the U.S. stock market to reach a market capitalization of $1 trillion. After all, compared to many other second- and third-tier small tech companies, Igrete is indeed very successful, even at a price-to-earnings ratio of 221 times based on the market capitalization of $773.1 billion at the close of trading on Friday.

Well, 221 times doesn't seem to be suitable for the number 'cai', but if you compare it with many companies in the NASDAQ market whose price-to-earnings ratio has exceeded 500 times or even 1000 times, 221 times is already a fairly healthy indicator. In the end, it reached a market value of 1 trillion, which is only about 280 times.

With Igret's annual revenue exceeding $30 billion, it can still maintain a strong annual growth rate of more than 60%, and a price-earnings ratio of 280 times is no problem.

It's just a weekend get-together between two old friends, and Julian Robertson didn't mean to ask Soros for help, Soros made his own suggestion, but Robertson didn't accept it, so he didn't say more.

The topic then became casual.

"Say, what is that kid doing now?"

Seeing Julian Robertson ask about this, Soros showed a little gossip smile and said: "He must be in New York now, maybe you have also heard, he made the girl from the Lauder family pregnant with a child, although he has no plans to get married, but he is quite responsible, and he will come to visit every week." ”

Julian Robertson smiled a little: "It seems that you are not well-informed, in fact, more than one woman is pregnant." ”

Soros just smiled.

Actually, of course I do.

It's just that, in Soros's opinion, the child conceived by the girl from the Lauder family is the most important. Because, after the birth of that child, it will be a Jew.

He had been to a party at the beginning.

It is still unclear what Simon Westeros himself is, but now that the Westeros family has an extra Jewish child, and, according to recent information, a boy, and the young man approves of the heir, many things will be very beneficial to the Jews in the future.

Julian Robertson noticed Soros's knowing smile and probably understood something, he was not Jewish, and he didn't take the liberty to comment on it.

The issue of race, which has never been avoided in Western society.

After taking a sip of coffee again, Julian Robertson finally felt a little emotional, even faintly unconvinced: "George, you say, how did Simon do it in 87?"

"Who knows," Soros could only shake his head when he heard Robertson talk about his fiasco: "That time...... Frankly, I would have believed that he was a psychic, otherwise I would not have been able to make such an accurate prediction. ”

If it weren't for the windfall of the stock market crash in '87, a young man would probably still be just a Hollywood director at this time, even if it's the top one.

Well.

Not right either.

Even if it wasn't in '87, if the other party bet on the Internet in advance, it would at least be able to create Igrett at this time.

No, it doesn't seem right.

The birth of Igrete was completely completed with the cooperation of a whole industrial chain, such as AOL, such as Cisco, and even personal computers in the hardware field and Tinkobay's Internet peripheral products. Without adequate Internet infrastructure, it would have been impossible for Igrete to grow to this point.

And Cisco and AOL and other aspects, need money, and it is a large amount of financial support.

This is not so easy for a director to do. Because someone is equivalent to single-handedly promoting the entire Internet industry to this day, it is not an exaggeration at all, if there is no other party, perhaps, the Internet at this time is still in the exploration stage.

So, after all, it's still the time in '87 to let someone have enough capital to do it.

Thinking like this, Soros shook his head slightly, and said: "In any case, Simon has completely jumped out of our level now, let's just say that this time, in the past few days, how big the disparity in strength is, I think you should have some experience, this is just Simon doing things within the rules, if he breaks the rules, the Westeros system now has this kind of strength, then, you must be in no mood to drink coffee with me now." ”

Julian Robertson wanted to refute, paused, and finally had to acquiesce.

If you don't admit it, you can't do it

Moreover, what Julian Robertson has to admire even more is the young man's layout vision.

There may be many people who can suddenly get rich in just ten years and become the world's richest super-tycoon, but, under normal circumstances, people who suddenly enter the top of the pyramid often lack enough wisdom to make various other layouts to provide security for their business empire.

Because people's time and energy are limited.

In just a few decades, it is already very rare to be able to do one thing to the extreme.

Simon Westeros has enough wisdom to do many things to the extreme, which is not only smart to solve, smart people in this world never mention, but often the smarter people, the more unfamiliar people are, and they don't know how to move, because these wisdom of dealing with people and things can only be provided by time.

The question is, Simon Westeros, where does he get so much time?

All these doubts, unless Simon Westeros himself is willing to reveal them, will probably always remain a mystery.

Manhattan, Upper West Side.

While the two old men were drinking coffee together, Simon was personally accompanying the two women to prepare dinner.

It's kind of to experience a certain feeling of home.

It is the Spring Festival in China soon, and Chen Qing never thought of going back, because she was pregnant, Lin Su, who inevitably had all kinds of worries in her heart, did not return to China to celebrate the New Year with her family this time.

Simon didn't feel anything at first, but he didn't understand it until he noticed Lin Su's depressed mood.

It's not that it doesn't matter.

So try to comfort and make up for it.

However, spending an afternoon in person, and even this night drove Chen Qing away, and enjoyed the two-person world with Lin Su alone, and the next morning, he accidentally found the tears in the corners of the eyes of the woman in his arms, and Simon realized that the matter was still quite serious.

After a little heart-to-heart communication, I roughly understood.

A pregnant woman must be sensitive after all.

Although Lin Su is also shrewd and capable on weekdays, especially in front of Chen Qing, he finally came to the end of not admitting defeat, although he was always bullied, his personality was definitely not weak.

It's just that after pregnancy, as a woman with some traditional Chinese concepts in her bones, she will inevitably suffer from gains and losses.

Even if Simon promised future children that they would be able to identify the surname 'Westeros'.

However, a woman who does not have a proper marriage and no real reputation is difficult to make people feel completely secure after all.

Simon Ben interrupted Monday's return to Los Angeles, and seeing this situation, he discussed it privately with the two Jennies, and then made a decision to take Lin Su back to China to celebrate the New Year together.

By the way, do something.

This day is February 3rd, Monday, the Chinese lunar calendar, is the twenty-sixth day of the lunar month, and there are only three days before the New Year.

Knowing that Simon was going to take him back to China for the Spring Festival together, Lin Su felt inappropriate again. She knows very well that men are far from being as idle as they imagined, and if they go to China for the New Year, at least, well, they probably can't come back for a week, and there was just a long and short confrontation in the NASDAQ market last week, and the media over the weekend is still talking about it, in case, what happens during the time he leaves, he can't deal with it in time, what can he do?

Simon didn't talk too much nonsense with Lin Su about this.

If you don't even have the freedom to walk away at this point, then what's the point of everything?

So I set off on the same day.

Well.

Chen Qing was left behind.

After all, there are some things this time that are not suitable for Chen Qing to mix together.

Chen Qing was resentful about this on the surface, but she had more expectations in her heart. The man promised that after she was 30 years old, she could also have a child, and she is 28 years old this year, which is not far away.

When the time comes, the man will definitely be a bowl of water.

Thinking of this, Chen Qing was even a little apprehensive, wondering if his father would carry a chicken feather blanket and beat her out with his pair of unserious dog men and women.

Well, it shouldn't be.

Because of the number of fortunes that were criticized for a fortune-telling when she was a child and the gradual fulfillment of her character when she grew up, her parents were only afraid that she would learn bad and harm people over the years, and even remembered the beating very deeply when she was a child.

Thinking about it like this, her parents' expectations for her must have reached the lowest. When the time comes, I will bring a 'Simon Westeros' back, saying that this is my own man, although she must be a little five, six, seven or something, but it is enough to meet the expectations of her parents.