"Boss, this is Lehman Brothers' analysis, and all the data listed is exclusive。。。。。。 ”

Andy looked at Michael Deo, the chief analyst of his think tank, nodded slightly, and took the information and looked at it.

The first basic course that a real analyst must take is to become an accountant, read the company's financial statements (if you want to speculate on stocks, it is best to understand them, which contain many secrets), understand the interests behind various accounting treatments, and restore the company's true financial situation.

Then, it is necessary to investigate the sales, management and other aspects of the company's operation in person. Bullish analysts should also have their own exclusive source of information. The higher the level of the information source, the more valuable the information obtained.

When Lehman launched its glamorous performance report and self-help plan, Michael Dior saw through the unbelievably optimistic question about the valuation of Lehman's assets behind the performance report, and confirmed that Lehman had come to the end of his life through in-depth investigation and information summary.

Looking at these materials, Andy glanced at Michael with satisfaction, although there is a phenomenon of financial reporting and accounting manipulation in the market, but experienced accountants will still be a touchstone for a good company, and it is also a weighty role.

"That is to say, the secret work that Lehman is now underway, the more than 30 billion assets injected by the new company REI that have been stripped from the books of the head office and packaged and reorganized in various ways are only 60%-65% of their value, or even lower, and there are almost 10 billion holes that they are ready to use to trap people?"

Andy shook the information in his hand, looked at Michael Dio with a sneer and asked, now he understands why Paulson would rather watch Lehman go out of business than make a move, Nima, this is going to kill people, if anyone takes over, he will fall into blood mold!

"Yes, boss, the more important thing is that this hole of more than 10 billion yuan has nothing to do with junk subprime loans, and it has nothing to do with CDO, but the related assets of commercial real estate!"

As soon as Michael's words fell, everyone in the think tank who had not read the report in Andy's hands changed their faces and gasped, Nima, this is a 'landmine', a mine that can blow up any force.

Commercial real estate refers to non-residential housing real estate such as office buildings, apartment buildings, hotels, industrial land, shopping malls/shopping centers, etc.

If all these assets belong to Lehman, it is better to say, the key is that Lehman died at the beginning of the discovery of subprime mortgages, under the idea of buying the bottom to reap the benefits, in January 07 to acquire a real estate trust, raised $500 million, and forcibly acquired the company worth $22.2 billion with 44 times leverage.

The company wants to make a fortune with 350 housing complexes and 86,000 homes in the United States and Germany, especially in major metropolitan areas.

Touching the top of the high!

This is a big death! What is the price of real estate now? It is completely the price of cabbage, even if the housing prices in places such as New York and Manhattan have not fallen, or even have a tendency to rise, but after all, there is only such a small area, and the key is Lehman's total loan of 60 billion yuan, and only these real estate cannot be sold, and Lehman's collapse is a certainty.

Andy looked at the feasibility plan on the last page of the information, and couldn't help but fall into deep thought, his right hand kept touching his chin, his eyes narrowed slightly, and after a while, the cold flashed, and he made up his mind.

"These real estates, I have no interest now, although they are very cheap, but they are still not to the point of driving them to death, first hedge Lehman's stock price, concentrate on shorting it, release the news, scatter the data on it, and let all the companies interested in Lehman assets break out in a cold sweat first!"

Andy's words shocked everyone in the conference room, his own boss, this is going to detonate a mine! If you say no, it will blow up the entire Lehman into the sky, if you can't hold on to it when you are short, Lehman will lie down and go bankrupt, then you will play fire.

Al hurriedly said with a solemn face: "Boss, these materials are too violent for Lehman, who is now crumbling, it is easy to blow them up directly, in order to maximize profits, let's use rumors to operate, and we must limit the time of this short sale to a week, and always be ready to withdraw from the market, once Lehman goes out of business... ”

Andy naturally knows what Al didn't say, once Lehman goes bankrupt, then he will lose all his money, but the reason why Andy chooses to use violent means to play the shock game is that he hopes to squeeze the last bit of oil and water out of Lehman before it collapses, and then use the money to join the gluttonous feast of dividing up Lehman's liquidation assets.

However, Al was right, he might be really in a hurry, but the petty fight was no longer enough to satisfy his current appetite, and he knew that without his participation, Lehman might have gone bankrupt in mid-September, but he didn't want to drink some soup behind others.

He wanted to take charge of the rhythm of this gluttonous feast and control the process of Lehman's destruction, only in this way could he get the biggest piece of the cake.

Seeing that the big boss didn't speak, Al frowned slightly, and said again: "Use half-truths and half-truths to let Lehman leave one last breath of relief, give us plenty of time to quit, boss, we don't have to take risks, and there is no reason to take risks!"

"Whew-"

Andy's heartstrings trembled slightly, his complexion changed slightly, and finally he exhaled a heavy breath, shook his head and looked at Al with a wry smile and said: "I'm really unwilling, most of the 300 billion assets, most of them can only watch them evaporate, and the part that can be intercepted has to be shared with others... ”

Everyone at the conference table had a strange face, and the corners of their mouths twitched and lowered their heads slightly, otherwise their expressions were too obvious, and they were seen by the big boss, and everyone complained about the boss's greed.

"Boss, on Wall Street at this time, half-truths and half-truths plus short-selling are like aircraft carriers with nuclear warheads, and their power can easily wipe off the face of the earth a company that has existed for hundreds of years and has tens of thousands of employees.

What we have to do now is to seek profit and control the greed in our hearts, because now and in the next year, there will be a lot of youhuo being put in front of the boss.

In addition to the real high-quality assets we can use to operate, the rest, if we can't quickly realize, even if it is cheap, we can't ask for it, because there will definitely be a lot of such assets, one or two acquisitions are okay, but if you really buy more, boss, your cash advantage will be gone!"

Hearing Al's words, Andy could only shake his head and smile bitterly, nodded slightly and said: "Yes, there are really too many good things, how can it be possible to take them down, I still think about Starbucks and AMC theaters... Okay, then prepare it according to your wishes, although you want to eat a full bite, but if you choke to death, it will be more than worth the loss. ”

Al was also relieved to hear that the young big boss was persuaded, his boss was good at everything, but he was too greedy, and his pursuit of wealth was not weakened because he was already ranked the twentieth billionaire in the world, but became more and more intense.

As for whether anyone is worried that the U.S. government will bail out Lehman, the answer is yes, Paulson will definitely not bail out Lehman, as he said early on that Goldman Sachs wants Lehman to fail, and the important thing is that once Paulson officially takes over the two houses, he will definitely not come to the rescue of Lehman.

Not only would this expose Paulson to moral hazard and make innocent Nasturians suffer consequences for greedy humanity and failed business models, but it would also potentially encourage the creation of derivatives that take huge risks to make huge profits, because if the gamble is lost, the government will come out and take the shares.

In order to avoid such a situation, Paulson will certainly find someone to make an example of the monkey, pour cold water on Wall Street, sober up the bigwigs, and make them realize that the government will choose to fend for themselves.

Of course, this object may be Lehman, or it may be AIG Insurance Company, but who makes Lehman the most arrogant, two-13, and the most unpopular, and it happens that it also collides at the right time, and who does not sacrifice it?