"Asian?" Daniel pondered for a moment, and then it dawned on him.

There is such a classic case in management, that is, on the assembly line, industrial workers in Europe and the United States are accustomed to working in silence, while Asians are not interested in this set at all, so that their work efficiency is very low in a silent state, so the management will change the assembly line slightly, so that Asians can get together and chat and work, so that the efficiency is greatly improved.

Although this is an exception, it shows that Asians like to get together and chat. And Soros is thinking about this, so he set the source of the "news" in the Asian financial circle.

He also has his own considerations for choosing DBS Bank in Singapore, first of all, it is a rigorous and conservative bank, and the risk control is particularly commendable, and the management will say "no" to Bear Stearns nine times out of ten after hearing the relevant information; Secondly, due to the personality that Asians like to talk about, DBS's internal decisions will certainly not be kept secret for too long, so this "news" will soon spread throughout the market. And when the time comes, Soros's side will not only achieve its goal, but also be able to shirk the responsibility.

"I believe you know everything you should know, and you don't need to know what you don't know, do your own job!" Soros smiled and hung up the phone, leaving only a thoughtful Daniel, holding the microphone in a daze, unable to say a word.

"Alright, guys, the first step is done, and then it's time for us to need the funds. Kenneth, John, are you guys ready with cash? The five giants were all waiting on the line, and everything Soros said to Daniel was clearly heard in their ears, and the dragon among these people naturally quickly understood Soros's intentions, and couldn't help but be a little more vigilant about him in his heart.

In fact, it's just a loose alliance between the men. When there are common interests, they may be able to get together, but when the interests are dispersed, they go their own way, and once there is a conflict of interest, they may turn against each other at any time, just like Julian in the past. Robertson and Soros like that.

There are no eternal friends, only eternal interests.

"The cash side is ready. We have $200 million in cash on hand and a total of $400 million worth of securities, ready to borrow another $200 million in cash from banks. Where are you? "Kenneth. Griffin replied lightly.

According to the overall plan, Soros and others are fully responsible for the strategic aspect, and most of the funding is borne by the Castle Fund and the Paulson Fund. Of course, as part of the cooperation, Soros and others also have to bear part of the funds, otherwise Paulson and others will not be able to trust them at all.

"Okay, we've got the money in place. That's $100 million! Seeing that the other party was ready with a sufficient amount of funds, Soros was naturally overjoyed, briefly explained the capital situation on his side, and then explained, "The current situation is that we want to use the funds to borrow Bear Stearns' shares to sell, but a few stocks cannot shake its foundation, so we have to find those large institutional holders and individual holders to borrow shares." It is possible to intervene through a guò broker or other unrelated person, and it is best not to alarm Bear Stearns. Everybody. No problem, right? ”

Regarding shorting stocks, it is generally sufficient to borrow shares from the market maker's broker, but if the amount is particularly large and the market maker's broker cannot raise so many shares, these shorters must borrow from the majority shareholder. Some people will question why major shareholders are willing to lend their own shares to suppress their own stock prices. Didn't he let his net worth shrink out of thin air by doing this?

Although lending stocks can shrink one's wealth in the short term. But that's not the case with the thinking of the major shareholders. First of all, this part of the shares is difficult to realize, wealth is only a literal number, ups and downs are inevitable, so even if it is a temporary rise and fall. They don't take it too seriously, as long as their stake remains the same, and they value long-term value. Secondly, in some cases, due to stock price fluctuations, and the major shareholders do not want to give up their holdings and want to have enough cash to use, they do not cash out these shares, but pledge them to the bank in exchange for liquid cash, and the bank can lend this part of the equity during the pledge period to collect a part of the interest.

This opens up the possibility for short sellers.

"I know a message!" At this time Julian. "When Bear Stearns' stock peaked last year, they pledged a 3.75 percent stake to JPMorgan Chase in exchange for about $500 million. I just don't know if this part of the equity has been redeemed by them now? ”

Generally speaking, according to the rules of the banking industry, the price of pledged shares is three to fifty percent of its market value, and at that time, Bear Stearns' stock price had soared to a high price of $170 per share, so proportionally, $500 million in cash was also within a reasonable range. It's just that JPMorgan Chase, which made this deal, is miserable, because if it is held until now, this part of the equity is only worth less than 300 million US dollars, and if Bear Stearns defaults, then they will lose miserably.

Although surprised why Julian. Robertson knew about this, but the others didn't ask questions, they knew that the other party must have their own way, and even if they asked, they would definitely not be willing to answer, so they simply avoided asking.

"If that's really the case, then Julian, you can talk to Jamie. Dimon had a good conversation and saw if he could lend out this part of the equity, if they were still there! Without a moment's hesitation, Soros said arrogantly, and Julian. Robertson's answer was also very crisp, and he agreed straightforwardly, without a word of rebuttal or dissatisfaction, much to the surprise of Griffin and Paulson, who had entered their circle for the first time.

Although everyone has taken a tacit attitude towards the fact that the core of the circle is Soros, it does not mean that they are not happy to see someone stand up and challenge Soros's leadership. Robertson is undoubtedly the best candidate. These are Kenneth. Griffin and John. Paulson had anticipated it, but it didn't happen, much to the surprise of the two. (To be continued......)

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