Merrill Lynch Securities Center, World Financial Center, Manhattan, New York, USA

"Boss, that young man is here......" The transponder on the desk came with the voice of the outside secretary, and Chambers, the general manager of the sales department of Merrill Lynch Securities Center, pressed the transponder, "Please let him in......"

At the end of the 16th floor of Building 4 of the World Financial Center, where every inch of land is valuable, the office of the legendary ace broker of Merrill Lynch in the 7th and 80s actually exceeds 1,200 square feet, compared to the cramped business department of the third business department on the other side of the 16th floor, there is only 300 square feet of office area, which is simply a sky and an underground.

"This is Mr. Django Ye of the third sales department, this is the general manager of the central sales department, Chambers Fett......... "The secretary's tall figure is serious and can go to the catwalk as a guest, looking at the age of about 30 but still outstanding, but the cold is not much worse than the beautiful police inspector, Chambers is 46 years old this year, and has been one of the legends of Merrill Lynch for 20 years, and Merrill Lynch Manhattan Center Business Department has 300 excellent brokers who manage nearly 20,000 individual and institutional investment accounts for Merrill Lynch. With an average market capitalization of more than $500,000 per account, Chambers is no match for managing the $10 billion in assets. "Young man, please sit, tea or coffee? Coffee? Emily, please order a cup of Blue Mountain coffee for our young people......" Chambers shook Jiang Yelin's hand with a smile, and while inviting him to take a seat, he picked up the cigar box on his desk, but Jiang Yelin was free to measure, shook his hand with a smile, and signaled that he smoked too much, and recently in the conditioning body, he stopped smoking cigars...... "Django, it's okay for me to call you that, right?" Chambers didn't let Old Wood from the third sales department bring Jiang Yelin to his office to report to work, but the phone call was to Old Wood, and asked his hot junior salesman and trainee fund manager who was in charge of the G3 Fund to come to his office...... I believe that Old Wood can weigh out the weight, but Jiang Yelin is late, delayed at least ten minutes longer than he expected, so Chambers is very curious, the handsome Asian guy in front of him, doesn't he know the weight of his boss?

Chambers's annual salary at Merrill Lynch is $800,000, and he subscribes to Merrill Lynch options of 10,000 shares per year during his tenure, of course, this guy's net worth has long exceeded 10 million US dollars, Long Island villas, Manhattan apartments, Hudson Yacht Marina, yachts, and various real estate add up to a net worth of at least $50 million, but this is not an overnight achievement but his achievements in Merrill Lynch for 20 years, from an annual salary of $30,000 when he entered the industry to an annual salary of 800,000 yuan today. All kinds of struggles, all kinds of setbacks and hardships that only Chambers himself understands. "Please call me Django or Ye, Boss, I didn't expect your office to be so big, there are so many people in our three business departments, but there are only 300 square feet of snail dwelling, I told our head, if the company doesn't increase the space and manpower for us, this business can't be done now, now we have a desk that three interns take turns to use, one sits and makes a call, and the remaining two simply sit on the carpet and dial the number......" Jiang Yelin sniffed the fragrance of Blue Mountain coffee, While playing haha, I wondered what the boss was doing with himself? Is it a bit of a toss today, and the legendary manager of Merrill Lynch is a little overwhelmed. "Well, the stock market is calm in the morning today, and there are a bit of turbulent waves in the afternoon, what do you think of Django? Why did the G3 fund suddenly short Ford Motors, I remember last week it was Old Wood who patted his chest in my office and praised Ford Motors, of course, the table of Ford Motors' stock price last week was really good, up about 8% in a week, right? Why did the wind suddenly change today? After the market closes, the general managers of the first and second business departments came to me to complain, saying that the three of you eat alone with your heads covered and cheat your own people, is there such a thing? “

Chambers's words were not hurried, but his tone carried the kind of unangry self-esteem of a person who had been in the top position for a long time, of course, he didn't plan to really train people or teach Jiang Yelin a lesson, but it was reasonable to suppress the arrogance of this young man, although Merrill Lynch Securities has always respected performance as king, but if an internal fund makes enemies everywhere within the company and even its own people can be yin, it is really unknown how far it can go, Chambers doesn't want Jiang Yelin and G3 Fund to be just a meteor ...... "Boss, I really don't have a clue about what you said, the investment direction of the G3 fund is the stock of big blue-chip companies, and the trading method is mainly based on intraday trading T+0 arbitrage, because the available funds are limited, so we have been making a small fuss, the reason for buying Ford last week is that the stock price of General Motors is unstable, the opportunity on Ford is greater, the reason for short selling Ford this week is simpler, Ford's stock price has risen in the past week has exceeded the support of fundamentals and news, Even from a profit-taking perspective, it is natural to go short above $55.50. ”

Jiang Yelin's words were also unhurried, as if a cloud was lightly fledgling, his explanation can certainly be regarded as a high-sounding excuse, but in fact, he didn't think that the G3 fund shorted Ford Motor would pit the colleagues of the first and second sales departments, speaking of which, Jiang Yelin really didn't know that the two internal fund accounts of the first business department G12 and G13 had been copied under the control of Old Ston, but in his opinion, Since Merrill Lynch's orders are ultimately executed by Merrill Lynch's floor traders, no matter which business department they do, they can be said to be above board and have nothing to hide...... Don't say that you don't have the heart to hurt people, you don't even have the heart to defend people!

"So you didn't sell Ford Ford specifically for the G12 and G13 funds under the Business Department?" Chambers asked with a deep groan, and now he judged that the kid in front of him was either pretending to be a pig and eating a tiger, or he was really a stupid boy sleeping on a cold kang with all his firepower, and he really couldn't stop it when luck came.

"Does the fund under the first business department also invest in Ford Motor? I really don't know, Boss you know that I have only been in the company for a few days, the faces and names of those senior colleagues in the second department of the first business department have not been matched yet, and even the trader in the floor I can't name it, we have three departments to the trader assistant Dominic every time he places an order, this young man's efficiency is very high, we are very satisfied, in addition, the orders and trading of other sales departments, we really haven't inquired...... Anyway, most funds only announce their holdings and net value once a quarter, right? If we want to talk about transparency, the most transparent is our three departments and the G3 Fund! ”

Jiang Yelin's words made Chambers dispel the doubts in his heart, if the G3 fund suddenly shorted Ford Motors today in order to pit his own people, no matter how talented and lucky the Asian genius in front of him is, his future achievements are also limited, because the pattern is too small to have more help and less help to the unjust, and sooner or later he will go to a dead end. The problem is that Ford's intraday decline today exceeded most of its capacity, and it is understandable that the G12 and G13 funds, which were in business at the end, suffered a dark loss.

"I looked at the G3 fund's trading returns today, and I wondered, according to your habits in the past few weeks, after selling short at a high level and closing a position at a low profit, generally G3 funds will take advantage of the trend to go long at a low level and pull the stock price up again, but today after you sold short on Ford and closed the position, you did not re-buy Ford Motor, but instead bought General Motors for the first time, what is your starting point?" Chambers was a master trader in the stock market in the 780s, and he couldn't do it without asking the questions in his mind.

"This, Boss, in fact, there is nothing strange, I'm afraid that the SEC will come back to us for trouble, the purpose of our short sale is, of course, through guò day trading and T+0 arbitrage, but Ford Motor fell a little more than expected today, to be honest, Ford dived after driving a large wave of industrial blue chips to follow the dive, and even General Motors once dived as much as 6%, considering that the decline was a bit too large, the most important thing is that the scale of the G3 fund is still a little small, I'm worried that after re-buying Ford, there will continue to be big sellers who are shorting, and it will be difficult to clean up at that time...... So avoid its edge and buy a position in General Motors, which has not increased relatively much......"

Jiang Yelin's answer is false and real, in fact, his most fundamental purpose is to avoid being put on the word "insider trading", Serena Crane Ford and he have now reached a tacit understanding that can be understood but cannot be spoken, and the other party even transferred his securities account from Goldman Sachs Michigan Branch to Merrill Lynch Michigan Branch, if it were not for Jiang Yelin's fear of being too ostentatious and refused to allow the Ford family heir to directly open a securities account to the third branch of the business department of Merrill Lynch Securities Center, the matter would have been even more troublesome.

Obviously, Serena William is also a guy who can understand everything, and there is an article in the "Wall Street Journal" early this morning in the inconspicuous place on the eleventh edition of Finance, analyzing the future development prospects of Ford Motor and whether the current stock price of more than 55 exceeds the support and table of performance, and arrogantly claims that in terms of Ford's sales and market share in the month, 52 US dollars is a relatively reasonable price, and last week's rise can be regarded as a fund or institution at the beginning of the year to adjust the position portfolio, It doesn't mean that 8% has risen in a week, which is the normal table for Ford cars.

If the U.S. Securities and Exchange Commission (SEC) comes to the door, this stock commentary article in the Wall Street Journal signed by the leading brother is the best reason and shield for Serena William Crane Ford Jr to short sell Ford cars at a high price of more than $55 on the same day, and as for Ford's board of directors and senior management, Serena William does not take it to heart.

In fact, although he sold short at a high level, he not only closed his position at a low position and took back all the shares he threw out, but also bought an additional 2 million shares of Ford Motor Class A common stock in order to protect the disk, Serena William is worthy of all the guys who may raise objections, and even, later in the day, the CEO of Ford's public relations and media division bought his own stock to protect the stock when the stock price plummeted, which was called a good act and a move with enough confidence in Ford's development prospects, which is called good news for Ford Motor, On Wednesday, Ford's stock price jumped directly up 50 US dollars!