The 197th is short

If Bear Stearns' contract doesn't want to become a pile of scrap paper, the Rose Fund may need to compromise at the right time, slashing the original price of $1.5 billion to $500 million or even $80 million. In this way, the $1.5 billion wealth on paper may only be $80 million.

Of course, even so, the Rose Fund can make a decent return.

Because of the $1.5 billion contract, the Rose Fund has only actually paid $18 million a year in insurance premiums.

Successful shorting, there are still many difficulties before the wealth arrives.

This is also the role of Gong Qiuqiu.

If a fund manager is hired at the helm, the Rose Fund has a high probability of winning the bet but not making money, and will be eaten alive by a group of financial giants.

Wei Dongsheng simply sorted out his thoughts and straightened out Bear Stearns' investment: "What does Bear Stearns mean is that if CITIC Securities is unwilling to raise money from it, we will not be able to get $1.5 billion in performance money?" ”

Gong Qiuqiu: "Not necessarily. In addition to CITIC Securities, Bear Stearns is also trying to negotiate financing with other banks. ”

Wei Dongsheng: "Do you think it is possible for CITIC Securities to agree to Bear Stearns' proposal?" ”

Gong Qiuqiu shook his head and said that he was not optimistic: "First, Bear Stearns' assets include a bunch of mortgage-backed securities, which are like a bomb that may explode at any time, and it is extremely difficult to transfer; Second, Bear Stearns' willingness to threaten us with bankruptcy at the time of the negotiations confirmed that Bear Stearns now needs more capital and longer term secured financing. A mere $2.5 billion will not solve Bear Stearns' problem. With the internal operation mechanism of CITIC Securities, whoever dares to sign such a contract with Bear Stearns now will definitely be investigated by the Commission for Discipline Inspection in the future. ”

Wei Dongsheng: "In other words, Bear Stearns' proposal to cooperate with CITIC Securities can be ignored?" ”

Gong Qiuqiu: "Bear Stearns can only think of another strategy. ”

Speaking of which, Gong Qiuqiu's thinking is already very clear. With Bear Stearns' financial situation and passive confrontational attitude, it may be difficult to get the full amount of this $1.5 billion contract. In order to avoid the contract becoming a piece of waste paper, the Rose Fund can only negotiate with Bear Stearns to perform the contract at a discount or sell it at a low price to other funds or investment banks that are confident that Bear Stearns will break the bank.

Wei Dongsheng can only choose to trust Gong Qiuqiu's judgment and authorize her to freely price the $1.5 billion contract within a certain range.

Of course, Wei Dongsheng will not dig out his heart and lungs, and trust Gong Qiuqiu without limit.

The computer intelligent life system not only monitors the flow of funds between banks around the world in real time, but also closely supervises the transfer of funds of core employees such as Gong Qiuqiu. If the proportion of the amount is small, Wei Dongsheng will simply let it go with the concept of "if the water is clear, there will be no fish, and if people are observed, there will be no disciples"; If the proportion of the amount is high to a certain extent, Wei Dongsheng will definitely take it down quickly. Fortunately, Gong Qiuqiu did not live up to Wei Dongsheng's trust for the time being, and at least the computer intelligent life monitoring system did not collect evidence of her cheating and cheating.

Wei Dongsheng cares about his work, and he cares more about Gong Qiuqiu's safety: "Whether it's $1.5 billion or $500 million after the discount, it's a huge number. Be careful of Bear Stearns taking risks. ”

Gong Qiuqiu laughed: "I am me, the contract is the contract, and the Rose Fund is the Rose Fund." It's easy for Bear Stearns to hire someone to kill me, but it's impossible to ruin the contract. Today, in addition to the initial principal, the Rose Fund has managed $8 billion in assets one after another. The investors behind the $8 billion are hoping that the Rose Fund will make a profit from shorting the mortgage market, and Bear Stearns wants to destroy the Rose Fund by illegal means, so he must first ask this group of investors if they agree or not. ”

Wei Dongsheng: "Always be careful." ”

Gong Qiuqiu didn't take it seriously: "I'll pay attention." ”

Wei Dongsheng proposed: "The new cabinet election has ended, and Jing Minqiang is ready to fly to the United States to accompany you." Sister-in-law, do you want to take a break for a while? ”

Gong Qiuqiu didn't answer, but asked, "Do you believe me?" ”

Wei Dongsheng replied in an affirmative tone: "Of course I believe it." ”

Gong Qiuqiu: "The hand-to-hand battle with the five major investment banks has been my longing for 20 years. I couldn't help but get excited at the thought of the opportunity to rip a piece of fat off Bear Stearns. If you believe me, please keep me until the war is over. ”

Wei Dongsheng sighed: "Are you sure?" ”

Gong Qiuqiu: "Of course. ”

Wei Dongsheng: "The war has just begun, are you sure to stay on the Rose Fund platform for another year?" ”

Gong Qiuqiu understood what Wei Dongsheng meant: "Do you judge that the crisis has just begun?" ”

In this financial war in which the Rose Fund participated, Wei Dongsheng was the commander in charge of determining the strategic direction, and Gong Qiuqiu was the general in charge of the specific campaign. In terms of specific operations, for example, how to perform Bear Stearns' $1.5 billion contract to maximize benefits, Gong Qiuqiu has full control; In terms of strategic layout, such as shorting or longing the mortgage market, it is Gong Qiuqiu's judgment to implement Wei Dongsheng.

Wei Dongsheng explained his judgment to Gong Qiuqiu: "Policies that go in the opposite direction will never solve the core crisis; The Fed's reckless bailout is just forcibly renewing its life, dragging the early stage of cancer to the advanced stage. Next, we continue to go short, short financials. ”

Gong Qiuqiu froze.

Gong Qiuqiu seriously doubted Wei Dongsheng's judgment, even if Wei Dongsheng had already won once. However, Gong Qiuqiu is more self-aware. Since he couldn't see the future, Gong Qiuqiu simply implemented Wei Dongsheng's judgment, after all, the worst result was just to export the money he had just earned.

Gong Qiuqiu directly asked about the specific scale: "To what extent is it short?" ”

Wei Dongsheng: "With the goal that the five major investment banks of Goldman Sachs, Morgan Stanley, Merrill Lynch, Lehman Brothers, and Bear Stearns are all facing bankruptcy and acquisition crises, we will short all relevant banks in Europe and the United States. ”

Gong Qiuqiu couldn't help but take a cold breath.

After a long time, Gong Qiuqiu's voice came: "That's the global economic crisis." ”

Wei Dongsheng laughed: "Scared? ”

Gong Qiuqiu also smiled: "I don't believe it intellectually, but I'm willing to try." If one day Goldman Sachs can be forced into bankruptcy, hehe, I am willing to die in the United States. ”

Wei Dongsheng was noncommittal, and said another thing: "There is another thing, the recent Spring and Autumn search market value has been inflated like a balloon, and it has risen too fast, and I am ready to throw a certain amount of equity pressure." You're going to be cooperative. ”

Gong Qiuqiu is concerned about the ballooning market capitalization of the Spring and Autumn Search.

The capital market may be optimistic that China will surpass the United States to become the world's largest country in the Internet world, or that the market value of China's stock market will exceed China's gross national GDP, or that China will soon surpass Germany to become the world's third largest economy, or that the RMB exchange rate will continue to strengthen. As the image representative of Huaguo's Internet, the market value of its Spring and Autumn Network and Spring and Autumn Search has been inflated like a balloon. The Spring and Autumn search was especially severe, with a market value of $6.5 billion in March, $10 billion in June, and $20 billion in September, and $28 billion before Wei Dongsheng and Gong Qiuqiu made phone calls.

Inflated market capitalization, which doesn't make any sense.

When money is in your pocket, it's real money.

Wei Dongsheng decided to sell some of his shares at a high price and buy them back at a low price after the outbreak of the global economic crisis in the future. In this way, back and forth, Wei Dongsheng not only kept his equity, but also earned considerable income from the price difference.

Gong Qiuqiu's energy was concentrated in the financial market, and he had no time to take care of the long-term development of the Spring and Autumn Search. At the end of the phone call, Gong Qiuqiu belatedly mentioned the trend of Huaguo's stock market: "A few days ago, the listing of Huaguo Shenhua drove the 601 sector to soar across the board. You reposted this news on your account in Four-dimensional Space, but commented that 'the liquidation has been completed, and the risk of Huaguo stock market is getting higher and higher for the time being'. Has the Asian branch of the Rose Fund fully withdrawn from the Chinese stock market? ”

Wei Dongsheng admitted: "Since I have made public comments, there is no need to tell lies. With 4,000 points as the red line, and for several months intermittently only selling and not buying, the Rose Asia Fund has been completely liquidated before the cabinet election. Whether China's stock market will soar or fall in the future has nothing to do with us. ”

Gong Qiuqiu questioned: "Is there really no shorting?" ”

Wei Dongsheng: "The systems of China and the United States are different, and the risk of shorting the Chinese stock market is too high, and after all, companies such as Chunqiu, Zhiyu, Zhixing, Zhuwei, and Siwei Space still rely on the Chinese market to eat. Believe me, I am not a capitalist who makes money for the sake of making money, but an idealist who uses capital as a tool. ”

Gong Qiuqiu no longer asked, but asked Wei Dongsheng's judgment: "When do you think the Chinese stock market will crash?" ”

Wei Dongsheng: "It's almost there." ”

Gong Qiuqiu's voice was a little melancholy: "Is it serious?" ”

Wei Dongsheng was in a relaxed mood: "I used to think it was very serious, but now I feel that it may not be serious." ”

Gong Qiuqiu was surprised: "What do you say?" ”

Wei Dongsheng sighed with emotion: "Huaguo Petroleum! ”

When Wei Dong first explored the Chinese stock market in his previous life, "Huaguo Petroleum trapped a generation" has become a well-known joke, and everyone knows the name of Huaguo.

In hindsight, Wei Dongsheng suddenly had a completely different understanding.

When Shenhai Securities climbed to 5,000 points and 6,000 points, the bubble phenomenon was already very serious. The proportion of liquidity in the Chinese stock market, funds and other funds of the nature of floating capital has been as high as one-quarter, coupled with speculative chasing up and down, there are bubbles almost everywhere. In other words, the reason why the stock market can continue to go crazy comes from the left-handed and right-handed hands of a group of big bookmakers and small speculators. China's stock market does not have the corresponding economic foundation to support the 6,000-point high, and sooner or later it will collapse.

It's just sooner or later.

The Chinese stock market has long since become a game of drumming and passing flowers.