Chapter 148: Below Market Selling Price
With Brooke's fingers, a young waiter squeezed through the crowd with a list and asked politely at their table: "Hello, welcome to Barton Tavern, are you here to invest in the CDS market, do you have a familiar market broker......?"
Before the waiter's words were finished, Brooke slapped the table angrily and said: "I'm Brooke, the chairman of Brooke Investments, a senior senator of the Massachusetts Legislature, what other market broker do I need? You guy who doesn't know the rules, let your boss come to me immediately!"
Zhou Ming glanced at Brooke and shook his head helplessly, of course he didn't bring Brooke to this CDS market to make trouble, Brooke himself understood this, and what the waiter said was very polite, and there was nothing wrong with it at first glance, because he said this to every new guest he didn't know, but Brooke's annoyance was also this habit.
The reason is simple, Brooke doesn't think he should be a new guest he doesn't know.
As Brooke himself said, as a senior senator in the state legislature and chairman of a well-known investment company, he is not a household name, but he should not be unknown.
In fact, to say that Brooke's psychological endurance is very good, in the current situation of his own company, he is not unable to bear some things, but the key is in front of Zhou Ming. Such a former opponent, now has to cooperate, Brooke still has to remain proud in front of Zhou Ming, he took Zhou Ming to this CDS market, there was no seat before, and now even a waiter despises him so much, so he can't help but go crazy anymore.
Zhou Ming thought about this, he patted Brooke's shoulder to signal him to be calm, and then said to the waiter who looked confused and didn't know what he said wrong: "You don't have to pay attention to him, he didn't take medicine when he went out today, but you can go back and check Brooke, I think this name should not need any market broker here, and it can be directly listed for trading." ”
The waiter gave Brooke a puzzled look, and Brooke glared at him fiercely, and the waiter hurriedly ran back to ask.
After a while, the waiter returned with his foreman, and the foreman smiled and said to Brooke, "I'm sorry Councillor Brooke, but my employee is new and doesn't know the rules, and I don't know you......"
Brooke's eyes widened again: "He doesn't understand the rules, don't you understand the rules either?"
Zhou Ming waved his hand and interrupted Brooke's words indifferently: "It's okay, as long as we can now do without any market brokers for listing and trading." ”
"Of course it's no problem!" the foreman nodded busily, his tone full of gratitude to Zhou Ming.
After all, although Brooke's company is about to go bankrupt, his status has dropped a lot compared to other big people who are qualified to stay in the position, but compared to them, he is still high, if he really makes him angry and complains to the boss, the boss will definitely punish them employees in order to take care of Brooke's face, and who wants to be deducted from the bonus when they come out to do things? Therefore, Zhou Ming helped him out of the siege and let him breathe a sigh of relief.
And the foreman was not only grateful, he also patted his chest and said: "I can help you solve this kind of small problem as long as it does not violate the regulations." ”
"Thank you very much. Zhou Ming said that for the benefits of this kind of free delivery, Zhou Ming naturally did not refuse, and he then asked, "So we want to list CDS contracts for sale here now, what do you think?"
Zhou Ming asked this on purpose, he just wanted to see the foreman's reaction.
Sure enough, the foreman said with some hesitation: "This gentleman, if you want to sell CDS contracts now, I don't think it will be an easy task, I see that you help me so much, I can provide you with some inside information for free, that is, the current CDS market is in a period of decline, and it is impossible for your CDS contracts to be sold at a good price." ”
Zhou Ming shrugged and said, "But what if I'm going to put it up for sale today? Even if it's a CDS contract worth 10 million, I'll only sell it for $4.5 million." ”
The foreman was stunned when he heard Zhou Ming's words, because the CDS contract worth 10 million was to be sold, and the general market price would be around 7.5 million US dollars. This is due to the fact that the value of CDS contracts can only be fully recovered after a certain number of years, during which they are subject to many factors such as credit risk and inflation, so CDS contracts listed for sale in the market will generally be lower than their actual value.
But even if the CDS market has fallen all the way because of the subprime mortgage crisis, and even the bankruptcy of Brooke Investment has caused the price of CDS contracts to fall to the bottom, his actual value is there, and the 10 million CDS contracts are now at least 5 million, and now the Chinese are 4.5 million, what does this kind of loss-making transaction mean?
With this in mind, the foreman tentatively said, "I think it's okay if that's the case, but ......"
"Is there anything wrong with that?"
Zhou Ming's sudden question interrupted the foreman's words, and also made him instantly wake up to the fact that he shouldn't ask too much.
"Yes sir, as long as you are sure that you want to put it up for sale like this, I will handle it for you immediately. The foreman said.
"I'm going to put it up right away. Zhou Ming reminded, "In addition, I think as Councilor Brooke, I don't need to take out those contracts, right?"
The foreman nodded and said, "Of course not, Councilor Brooke is the best guarantee, I believe that if you say that there is, there will definitely be one, I will handle it for you immediately, and I will also help you and Councilor Brooke hide their identities." ”
Zhou Ming shook his head and said, "You don't need to hide your identity, you can publicly list and say that Congressman Brooke wants to sell ten CDS contracts worth 10 million, and the price is 4.5 million US dollars." ”
Zhou Ming's words surprised the foreman very much, as the foreman of the CDS market tavern, he keenly felt that something was wrong, but this time he was smart and didn't ask anything more, he just bowed and went to help Zhou Ming handle the listing after instructing the waiter to provide good service to Zhou Ming and Brooke.
The so-called listing, is the tavern owner to follow the stock exchange of a practice, simply put, in each bar there is a LED display, every investor who wants to trade in addition to trading through the market broker, can also be their intention to trade on the display screen for similar public bidding transactions.
This method is obviously more efficient than going through a market broker, but this is only for some large customers, and most people are not qualified to do so.
"Chinese Zhou Ming, that is, you are here, otherwise I must come out and apologize to me in person!" Brooke said.
For Brooke's behavior of insisting on saving face in front of himself, Zhou Ming could only smile helplessly, but it was his temper that would have today's ending.
But compared to the tsundere on Brooke's side, Zhou Ming is more concerned about the listing results on the foreman's side.
The foreman did not disappoint Zhou Ming, and only ten minutes later, the CDS contract sale information of Brooke Investment Company was hung up on the bar.
And with the appearance of this information, the entire Barton Tavern immediately exploded, not only the brokers of those investment companies were discussing, but even the 'big shots' on Laozhou Street were discussing in surprise.
"Is that guy Brooke crazy because he has no money, and he sells contracts for so much less than the market price!"
"It's so unreasonable, if I'm not mistaken, someone sold the CDS contract for five million yesterday because there was a problem with the company's funds, so they were in a hurry to cash it out, and it was said that the price cost the company more than $1.5 million, and now at this price, Brooke Investments is losing at least more than two million dollars, it's unbelievable!"
"But isn't Brooke Investments on the verge of bankruptcy lately?
"If it had been a week ago, I think I would have believed that they were raising money, but now they have been rescued? I read the news that the insurance company has injected $700 million into Brooke Investments, and with such a large amount of money, not to mention that it can be saved at once, but at least it can last for a long time, right? I would never have to sell my CDS contract at such a low price!"
"It's unbelievable the way they did......"
Listening to these people in the tavern, Zhou Ming, who was concocting this incident with one hand, sat in his seat very calmly, but the waiter stood aside very nervously.
Suddenly, Zhou Ming stretched out his hand and snapped his fingers, and the waiter immediately walked up quickly, and asked Zhou Ming respectfully what he commanded.
Obviously, the waiter's idea is very simple, he thinks that Zhou Ming's message will make the entire tavern boil, coupled with the order of the foreman just now, then he is definitely not an ordinary person.
Zhou Ming looked up and saw the waiter's nervous face, he smiled and patted the waiter's shoulder and said, "Don't be so nervous, I just want to tell you that I want a glass of Rum Coke, that's all." ”
The waiter was a little stunned, but he still nodded and said yes, and brought Zhou Ming a glass of rum Coke.
Zhou Ming took the wine and asked him, "How is my order now?"
Faced with this question, the waiter was embarrassed to say sorry, and then he went back to the bar to ask, and after a few minutes, the foreman came back with the waiter.
"I'm sorry, it seems that your price seems to be a bit unexpected, everyone is still in the wait and see stage, although some people have come to the bar to ask, but no one dares to buy it. The foreman said apologetically to Zhou Ming, "So Councillor Brooke and this gentleman, is it more in line with the market price to raise the price to five million US dollars, and it will be easier for people to accept?"
"It seems that the price does need to be adjusted. Zhou Ming said, "Then it's four million dollars." ”
The foreman was stunned, he looked at Zhou Ming in a daze, his eyes were full of surprise, and it wasn't until Zhou Ming repeated the price again that he suddenly realized that Zhou Ming was not joking.
Then he looked at Brooke suspiciously, and Brooke impatiently told him, "Just do as this gentleman says!"
This answer made the foreman even more surprised, because as the foreman of this Barton Tavern, he knew very well what the concept of Brooke's senior congressman and more than a billion investment companies were, if it weren't for this subprime mortgage crisis, he would also be very bullish, in Massachusetts and even in the entire New England region, he was a well-known figure, why did he listen to another person for all decisions now, so what is the identity of that Chinese gentleman?
This thought made him gasp, and he also agreed very respectfully, and then retreated.
After a few more minutes, when the information on the LED display on the bar counter jumped again, Zhou Ming's order immediately appeared: Brooke Investments sold ten CDS contracts worth 10 million for $4 million.