Chapter 36 Freshwater Fund
"This is a relatively good company, with more than $70 million in assets under management, and the founder, Mr. Steven Sr., used to hold a professorship in the Department of Finance at Columbia University, and then quit his job to come to Wall Street on his own, and just happened to encounter the rise of the Internet industry and made a lot of money.
Later, he reinvested in two companies, SUN and AOL, so ...... Belonging to the kind of people with a conscience, they felt sorry for the investors, and after two months, they couldn't think of jumping into the river for a while, and jumped off the Brooklyn Bridge. The body was found nine days later, in fact, there are many fund companies that have caused investors to lose a lot, and there are only a few that jumped off the building, which is much better than before. ”
Tamsui Fund is a private commodity that Mr. Robertson showed Ye Dongqing, and the founder committed suicide last month, and the small fund management company is in a situation of imminent bankruptcy and waiting for liquidation and settlement.
SUN (Sun Microelectronics) went bankrupt, and AOL did not survive the winter.
Last year, in 2001, AOL had just merged with Time Warner Group, and within a few months, its market value plummeted by hundreds of billions of dollars, which made a group of investors in Time Warner Group cry, and even the chief executive officer (CEO) stepped down.
There are not a few unlucky investors like Mr. Steven, a large group of fund companies with heavy positions in the Internet industry were collectively strangled by the wave of Internet bubble collapse some time ago, and if you are lucky, you can still have some money left, and if you are unlucky, you will directly liquidate and go bankrupt, even if you lose a quarter of the principal, it can be regarded as a relatively beautiful data, which is so terrible.
If he couldn't even read the financial report, Ye Dongqing would not be so arrogant that he would dare to come to Wall Street with tens of thousands of dollars, and a beautiful girl who didn't know anything would dare to come to Wall Street.
Through the financial report of the freshwater fund, he found that the performance was very good in the previous years, but it suddenly collapsed last year and fell sharply, and it continued to fall this year.
Originally, there were more than $20 million left after the stock market crash, and more than $4 million of the more than $6 million in the account was about to be liquidated and transferred into the investor's account in the next turnover.
There are almost two million dollars belonging to the same investor, who is estimated to have lost to the point of despair, and wants to gamble on the future with this money to see if the Internet industry can recover.
The freshwater fund is about to run out, the money on the books belongs to the investors, and there is no money itself, and the advantage is that there are not many debts, only the salaries of the company's employees have not been paid, and the total amount is about 100,000 US dollars.
Through the financial report, Ye Dongqing can imagine the whole process of an old professor who has been hopeful until he is completely desperate after the bubble bursts, and when he found out that he still holds a total value of about two million US dollars in Amazon stocks, he sighed: "It's a pity, if you have the patience to hold on a little longer, it's not hopeless to turn around." ”
When Mr. Robertson heard this, he held back a smile in his heart, thinking that he was another hairy boy with a heart higher than the sky, and he had already expected that Ye Dongqing would run into a gray nose on Wall Street, and finally run home to inherit the "family property".
I was laughing in my heart, I didn't say that, and I exaggerated in my tone: "Yes, this company is very good, you only need to pay a small price to get it, you have less debt, employees, licenses, office space and everything are still there, just go through the formalities."
I asked you, the office is still three months away, and I'm two buildings away from it, so I'm going to take you to their place? Oh, it's time to get off work, I can call little Steven, and he agreed to sell the company for a million dollars. ”
"A million dollars?"
Ye Dongqing felt that this number was a little higher, and there were only three-digit assets left in the company's account, which was not worth so much no matter how you looked at it.
"Well, there's office supplies, computers, desks, printers, leases and whatever, plus the shares that Mr. Steven Sr. holds through the company, which are currently worth about $750,000, part of which is the combined Time Warner stock, and part of it is Amazon.com, and on top of that, you have to settle the wages owed to the employees. ”
"That's pretty much it, I thought he was crazy, a company that was about to go bankrupt wasn't worth that much money. ”
Ye Dongqing took a puff of his cigar, thinking about something in his head, the asking price of one million dollars was not high, but for him, he would definitely not be able to take out the money at the moment, and he planned to talk to the inheritance and the successor of the company.
directly "confessed" to Robertson, who was the middleman: "My father only gave me $500,000 in start-up capital, which was a lot of money in the initial stage, and the remaining $2 million had to wait for a month before he could give it to me after reading my results."
You help me negotiate this business, and let the other party promise to defer the payment for one month, let me get the company first, and then sell the stock to me in a month, and give you another $10,000 commission, OK?"
The Tamsui Fund has no assets, and he is not afraid that Ye Dongqing will cheat out of money, it is already luck that someone can agree to buy this kind of shabby company, Robertson turned his head around, and decisively agreed: "Okay, it's okay to give a deposit first, and I will help you talk to him......"
Miss Laura sat next to her, drinking black tea, and was already dozing off.
She didn't know anything else, she only knew that Ye Dongqing definitely didn't have a million dollars, and she spent another $10,000 in commissions.
I'm proud that I didn't agree to cooperate with him, otherwise I owe money behind my ass, and I can't sleep well at night, and now I don't have to worry about anything.
After the phone call, Mr. Robertson of the consulting firm stayed in his office for more than 10 minutes before leaving the house to inspect the Tamsui Fund Company in another building, which covers an area of about 150 square meters and has a total of six desks with computers on them.
Mr. Steven, who got the inheritance, looks to be in his thirties, Ye Dongqing skipped Robertson and bargained with him, the content is nothing more than a desk, a computer or something worthless, a waste of leases, etc., plus there are debts, including stocks, only 800,000 US dollars are promised, provided that they cooperate with the transfer procedures.
Probably because he was desperate to sell these things, Steven Jr. agreed to the price, and although he complained about the payment after a month, he agreed to it without any other buyers, and agreed to draw up the contract tomorrow.
Buying a company that is about to go bankrupt, and it is not a big business, it has no reputation and no assets, it is not a trouble, and it will be dispersed after the verbal agreement, and they will meet again tomorrow with their lawyers.
drove Miss Laura home, she recently rented an old apartment, which was slightly better than the one Ye Dongqing rented before, and she didn't dare to ask him to go up and sit down, and Ye Dongqing didn't force it.
There will be a lot of things going on in the next few days, and after returning to the hotel to put up the car and walking out, he decides to find a tavern and treat himself to a glass of wine......