Despite Dick. Fude's words are passionate and exciting, but for investors and analysts, it is at best a momentary infection and volatility, and in the end, it is the cold numbers that convince them.

The loss on investment income was $5.7 billion, and although it reached $1.8 billion in operating income, the loss of Kaminmen Brothers reached $3.9 billion after the asset write-down, again the highest in history.

Although the result of the loss was expected by the entire Wall Street, the figure surprised everyone. So much so that Chris. When Omira announced the number, there was a gasp and exclamation.

Luckily, this qiē reaction happened during the rehearsal, so Chris. Omira was not in a hurry, and after announcing the relevant figures, she quickly shifted everyone's attention to the Kaminari brothers' new asset restructuring plan.

Half an hour later, Chris. After Omira recounted the entire asset restructuring plan, everyone was immersed in the confidence of digesting the asset restructuring plan, which made the whole venue fall into a rare state of silence.

"It's all under control!"

Dick. Fude nodded in satisfaction and motioned to Chris. Omira adjourned the meeting for five minutes to give everyone a buffer before moving on to the rest of the conversation.

The next interactive session is when the Kaminari Brothers are really tested.

"Zhong Sheng, what do you think of this asset restructuring plan?"

When Chris. After Omira announced the suspension of the meeting, the analysts present got up and left their seats, went to the corridor or bathroom to make phone calls, but the conference room seemed deserted, only a few dozen people were still in place, Zhong Shi and others were one of them.

Jiang Shan carefully listened to every clause of the Kaminari Brothers on asset restructuring throughout the whole process. I even took great care to make a note in my notebook. Taking advantage of the break, he made a quick calculation in his mind and came to a general conclusion: this asset restructuring plan has greatly boosted the confidence of the capital market, and if it can be successfully implemented, the Kaminari brothers are very likely to tide over the current difficulties.

However, before jumping to conclusions, he still had to ask Zhong Shi's opinion.

"Huang Fei. Zhang Yujiao, what do you two think? Zhong Shi did not answer the rhetorical question, and his face was very grim.

Huang Fei and Zhang Yujiao are financial analysts who came with Zhong Shi, both of whom have more than 20 years of market experience and are experts in this field. Huang Fei is about 1.7 meters tall, with a chubby figure, and his smile looks like Maitreya Buddha, and his face is more pleasing. And Zhang Yujiao is slightly taller and of medium stature. Thin face, glasses, bookish anger.

"Zhong Sheng, this plan is quite good. But if it can be implemented, a large part of Kaminari Brothers' non-performing assets will be divested, which is a positive signal for business transformation and asset management. Huang Fei said with a smile, "However, there are many problems, and it is debatable whether the funds raised from the sale of this part of the assets will be able to sustain the company's daily operations." And if there is not enough money for this. Kaminmen Brothers needs to re-inject money from the market, where will this money come from. How it was obtained is probably the key to preventing this project from proceeding smoothly. ”

"Based on my rough calculations, and the current list of home prices across the United States, this part of the asset sale can collect about $4 billion to $6 billion at most, and the money to maintain this real estate company is also in this range, maybe more. But here's the thing. Even if Kaminmen Brothers sells this part of the real estate now, it will inevitably suffer a loss of liquidity if it wants to successfully cash out, so the figure of $4 billion to $6 billion is obviously overestimated. Even if it can be sold within two months, it is still unknown whether the Kaminari brothers will be able to survive these two months. ”

"So my conclusion is, I'm afraid the market won't leave much time for the Kaminari brothers. Unless it can find the funds right away. Otherwise, it's not good. ”

Huang Fei still had a smiling face, but what he said made people's hairs stand on end: this plan didn't work at all.

"My opinion is basically the same as Huang Fei's!" Zhang Yujiao lifted the glasses on the bridge of his nose and said in a straight voice, "Unlike Huang Fei's focus, what I just noticed is the bond value assessment announced by the Kaminari Brothers. As early as May, Greenlight Capital claimed that the value of the subordinated mortgage bonds held by Kamison Brothers was questionable, and that Kamison Brothers had not revalued them at market prices. In other words, while there was a whopping $5.7 billion write-down, the actual loss was much more than that. ”

"The $30 billion commercial divestiture is important. Note, however, that in later wording, they say that 'Global Real Estate Investments (a subsidiary of Kaminman Brothers) will value assets in a way that is held to maturity, regardless of market price fluctuations'. God, do you know what that means? This means that the company's assets are calculated in terms of the original price plus expected returns, not the current market price. ”

"If they had been purchased for $1 million and had expected a 25 percent return in 10 years, then they would have presented a value of $1.25 million on their financial statements, not $700,000 or less in the current market price. If that's the case, then the current market value of the $30 billion in real estate assets they are talking about will have to be greatly discounted. As Huang Fei just said, in the case of tight time and falling market prices, how much this part of the asset can be discounted is a big question. ”

By analogy, no one knows what the number of losses of the Kaminmen Brothers' subordinated mortgage bonds or even collateralized debt debentures is known, unless they are really involved in their purchases and re-verify the figures of all their assets. God, this game they're playing is simply fooling everyone. ”

In the end, Zhang Yujiao couldn't help but shake his head.

Zhong Shi nodded and didn't say anything, but his eyes kept flickering, not knowing what was going on in his mind. Jiang Shan's face on the side couldn't help but be a little unnatural, after all, his financial experience was not as rich as Huang Fei and Zhang Yujiao, so it was inevitable that he didn't find a problem, but it was a little strange to come to the opposite conclusion.

For a time, Jiangshan was ashamed.

……

The Kaminari Brothers' problems can only be hidden from outsiders. Can't hide it from the professionals. After five minutes of digestion, the participants returned to the venue and began to talk to Kaminmen Brothers CFO Chris. Omira cross-examined.

"According to the plan, your plan to sell assets will raise about $3 billion, but the operation of the new company will need to inject about $7 billion, which is the result of our calculations. What I want to know is. How are you going to raise the extra $4 billion? ”

Like everyone else, analysts at Deutsche Bank, who were allowed to ask questions, spotted the question and asked unceremoniously at the moment.

Chris. Omila's scalp tingled for a while, and she was really afraid that anything would come. Despite this, he still doesn't plan to answer the question head-on, otherwise he will be messed up.

"I'm sorry, gentlemen, but I don't agree with your numbers." Chris. Omira snapped and said, "After the split." The leverage held by the new Kaminari Brothers will be smaller than the current level, which will free up a significant amount of capital. Taking a step back, even after careful calculations, we were still able to get enough money from our capital to support the new company. ”

Chris. Omila tried to relax herself and speak forcefully, so that she seemed confident. But in fact, he is strong on the outside and hard at all, and he has no confidence at all.

Thankfully, German analysts did not continue to ask questions. Because chattering on such occasions is almost no different from a showdown. So despite the doubts in my mind. But they politely remained silent.

The most important question fooled past, Chris. Omira's confidence suddenly increased, and she regained some confidence, and began to answer other questions on the scene in an orderly manner, including the telephone connection.

……

"He didn't answer the question directly!" Huang Fei's face didn't have a smile, "He's running away because he knows it." There is simply no answer to this question. They are no longer able to raise capital in the market. The qiē that is thrown out now is just an empty shell. ”

"But their stock went up!" Jiang Shan's face was more solemn, he took out his mobile phone and handed it to everyone, "It has slowly risen by 4.5%, and maybe it will rise more today, it seems that the market's reaction to this is very positive." ”

"It's just a long breath!" Zhong Shi sneered. "Now they're finished! If there is no help from a foundation! One thing is for sure, they have no help! ”

"What?"

"How is this possible?"

Several people, including Jiang Shan, looked at Zhong Shi with incredulous expressions, not understanding why Zhong Shi would say such a thing. You must know that just yesterday, there were rumors in the market that Bank of America was interested in the Kaminariman brothers, but today Zhong Shi actually said that there was no help. You must know that no matter how powerful Zhongshi is, it is impossible to influence the decision-making of Bank of America.

"You'll find out later!"

Zhong Shi just glanced at them coldly, took out his mobile phone, and said in a deep voice, "Sell me the stocks in the British banking industry, I need to empty them all within three days, yes, regardless of the cost." ”

……

Naturally, Zhong Shi's words were faithfully transmitted to the ears of Soros, who had been waiting next to the phone, which puzzled him greatly.

Soros's team is also closely monitoring the release of the Kaminari Brothers' statements, and like other analysts, they are keenly aware of the problems in the Kaminmen Brothers' statements. But for Soros, Zhong Shi's sudden sale of British banking stocks puzzled him, because at this time, Zhong Shi's every move must be related to the Kaminari brothers, but why the other party chose to sell British banking stocks, and what is the relationship between the two, has become a key question.

"Quick, go check the organization of this connection, and see if you can get the list of British consortiums!" After thinking about it for a while, Soros finally thought of a possibility, that is, there is a British consortium that expresses its meaning to the Kaminari brothers, and it is very likely that they will choose to buy the Kaminari brothers in the near future, and this news is controlled by Zhongshi, but Soros himself does not know, "I need detailed information, the latest developments of each company, including finances, executives, strategic trends, and cash reserves." ”

"Wait, it's those consortia that are interested in opening up the U.S. market, and the investment banking department is not strong enough, but they have large enough assets!" Just as the analyst was about to leave, Soros stopped him in time, "Especially those who attended today's meeting, they are the most likely." ”

After another order, Soros closed his eyes and lay on the sofa, but he couldn't help but sigh in his heart that compared with this junior who was the great enemy in his life, he was lagging behind in the connections and news that he was proud of. It made him feel a flurry of panic.

However, it is obviously impossible to defeat Soros, his will has long been as indestructible as steel! Soon, after the initial loss, a strong fighting spirit ignited in his heart, the battlefield of the Kaminari brothers is afraid that this time it will not work, but after that, he will definitely compete with Zhong Shi again. (To be continued......)

ps: Thank you book friends Europe 56, Nanquan 99, and Jiangnan Liu Feiyan for continuing to vote for monthly tickets! Thank you for another reward from the book friend Xiaoqi Civilization Miracle! I hope more book lovers can support this book ~ R1292