In accordance with the rules and the usual practice of Wall Street.

Most private equity funds, except for those specified in the contract.

During the closed period, it is possible not to disclose profits and losses to investors.

But if you have to reveal it, that's perfectly fine.

It depends on how the contract is signed, and how the relationship between the LP and the investment manager is.

Smith Capital is now revealing the situation of the first phase of Smith's private equity fund three to four months in advance, which is also completely legal.

For the LPs who participated in the first phase of Smith's private placement.

They wish they could know in advance so that they know how much money they have made, or. How much money was lost.

Smith Capital revealed a half-year profit of $17.665 billion under this data.

& We can't wait to know the situation of the first phase of the private sale.

"Smiths Capital Phase 1 Private Equity Fund raised a total of US$3 billion. The minimum subscription amount is US$1 million."

"The closure period is 180 days, and the redemption period is also 180 days."

& above and David revealed this information.

The former one was not very shocking.

A $3 billion private placement is a relatively large amount, but it is not uncommon on Wall Street.

& days of closure and redemption period, a bit too short.

It is important to know that the closure period of ordinary private equity funds is generally more than three years.

The redemption period is usually five to ten years, and some are as long as fifteen or twenty years.

The redemption period of days is simply unheard of on Wall Street.

Fortunately, for these guests who are interested in inquiring, they have known such news for a long time.

This time it was only officially recognized by Smith Capital.

What made everyone excited and shocked was the news revealed by David later.

I saw him smile and said, "The next number that appears is the first phase of Smith Private Equity Fund, and the current balance on the account~ Please see the PPT."

His voice fell, and a number appeared on the PPT behind him.

&, that is, $8.679 billion.

It is known that the first phase of the Smith private placement raised $3 billion.

The account balance is now $8.679 billion.

This means that in the course of more than two months.

The first phase of the Smith Fund account soared 289.3%.

This number made the guests, who were already a little numb just now, talk again.

This time, even the giants who had a rough estimate of the original profit figure couldn't help it.

They can go through the less secretive flow of money from Smith Capital.

Speculate on the approximate profit of Smith Capital.

But in these streams, they have no inside information.

There is no way to grasp the specific sources and classifications of these capital flows.

That is, they can know that the money belongs to Smith Capital.

But they don't know whether the money from Smith Capital is Abel's own funds or the money from the first phase of Smith Fund.

Or other investors' money.

After seeing this exaggerated profit figure.

In the first phase of the Smith Fund, several senior executives of Merrill Lynch Securities who invested the most.

Whether it's CEO David Komansky.

or Stanley O'Neal, who was at odds with David Komansky, and both of them were immediately overjoyed.

Of course, there is no one who is most excited about Charlie Scharf, the chief financial officer.

You must know that in Merrill Lynch, the most insistent on handing over funds to Smith Capital for investment.

It's Charlie Scharf.

Today's figure means that Merrill Lynch's investment in Smith Capital has increased by at least 289.3%!

This time Merrill Lynch certificate

The bond was very bold, and 500 million US dollars were invested.

It is the largest investment bank and the largest investment among LPs.

In other words, now Merrill Lynch's $500 million.

It has increased to $1,446.5 million.

That's almost equal to a little more than a third of Merrill Lynch's profit last year!

Even if half of the profit is deducted, the commission will be given to Smith Capital.

That $500 million can net more than $450 million!

"Smack~"

Stanley O'Neill, who was standing with Charlie Scharf, couldn't help but pat Charlie Scharf.

"Hey! Man, I read that right?! It's 8.679 billion! 289.3%！」 The black president whispered excitedly.

Charlie Schaff was actually more excited, and he lowered his voice:

"You read that right, sir. Because I see so many numbers!"

"Haha~" Stanley O'Neill shouted happily again.

In the cocktail party.

The chatter of the guests also sounded.

Tedererna regrets it now, regretting that he didn't invest a little more at that time.

"Fake." Tedelerna complained to her daughter:

"If it weren't for Merrill Lynch collecting debts! I'm going to invest at least $150 million! It's because of Merrill Lynch that drained my cash flow! In the end, I only invested a million!"

Ikana glanced at her father, embarrassed to tear him down.

At that time, although Merrill Lynch and many banks were chasing money from my father, it was right.

Tederena couldn't get the extra money at the time.

There is still liquidity of one or two million dollars.

At that time, Ikana also suggested that one or two million dollars could be invested.

But Tedellera refused, investing only a million dollars.

In Ikana's eyes at the time, this was a waste of the investment opportunity she had so hard to prostitute for nothing.

Because not everyone can invest in the first phase of the Smith Fund.

Now that I see that I have made money, my father is saying this kind of thing.

Ikana was speechless.

She knew that her father loved face, but she didn't say anything about it.

At the other end of the Hilton Golden Hall.

Robert Morgenthau, who has been smiling and silent.

Suddenly, he said to his granddaughter, "Peggy, do you see the eyes of those people?"

"Huh?" Peggy came back to her senses, and the jurisprudence genius was still shocked by the numbers.

"The expressions of those capital crocodiles in front of you." Robert whispered.

Peggy was stunned, then nodded slightly.

Then she heard her grandfather sigh softly.

"After tonight. For a long time, in Manhattan, there was no one to defeat him."

"Unless you can get past these people."

"Until he can make money for these people, these people are his greatest protectors."

There was one sentence that Robert didn't say.

That is, if one day, Abel becomes an obstacle to the interests of these people.

Or when it's profitable.

These protectors can also turn their faces overnight.

On Wall Street, that's not a problem.

"Alright."

David on the high platform was very satisfied with the reaction of everyone below.

He took the microphone and shouted:

"Next, I have the chairman of Smith Capital. With the warmest applause, please all of our Mr. Abel Smith!!"

Halfway through his words, the applause drowned out his words.

The spotlight came down, and Abel smiled and walked step by step to the high platform.

David Mellon, like a courtier greeting the monarch, took a few steps back, bent slightly and handed the microphone with a smile on his face.

Abel took the microphone David had sent, smiled and patted him on the shoulder.

At this time, the latter was still as excited as ever.

Then he walked over to where David Mellon had just stood, and the spotlight on him made him look like a Hollywood actor on the Oscar podium at the moment.

The main thing is his appearance, in this cocktail party where the capital giants gather.

It's a bit out of line.

is 1.92 meters tall, with the face of a handsome Hollywood male lead.

There is also a body that looks strong and fits.

Many guests are thinking: Smith has this kind of looks, even if he doesn't have this talent, he probably can ask for a bowl of rice in Hollywood.

"Hello everyone."

"I'm Abel Smith."

As Abel's voice came from the PA equipment, the applause gradually died out.

Everyone wants to hear the speech of this core figure and soul figure of Smith Capital.

"First of all, the data that people care about the most. David had already said it all."

"I will not elaborate on this."

He faced the gaze of more than two hundred distinguished guests.

The posture is neither humble nor arrogant, there is no domineering performance, and there is no excessive modesty.

He looked at the more than ten giant crocodiles standing at the front, and said with a smile:

"In the beginning, when I came to New York from Tarrant County, Texas. I only had fifty dollars with me."

Hearing his "fifty" dollar meme, many insiders pouted.

But he's really too good now.

Even if you know that his "fifty dollars" is a stalk, it is fake.

The insiders don't say anything about it in their hearts, and their mouths are full of admiration.

"When I first came to New York. I want to be a taxi driver because I have a driver's license. I wanted to be a waitress because I found it challenging. I want to be a librarian because I love to read. I also want to go in. Young Park, working as a street painter for a living."

Abel built a character for himself according to the Smith Storm period.

There are also think tanks, lines designed for themselves.

He was rather shameless in front of two hundred guests and reporters hidden among the waiters.

Using the image of the fictional Abel Smith, he explained the "American Dream" and "New York Dream" to everyone.

Because he wanted to spread the general content of his speech and cocktail party tonight.

That can bring him as much benefit as possible.

In order to maximize profits, what is it worth to brag?

"But one day, I was walking down Wall Street. I saw that cow on Wall Street, and I thought it was very kind, just like the cows I had at home."

"That's right, I raise cattle at home. I also milk cows, and I was the third runner-up in the junior category of the 137th Tarrant Milking Competition!"

"When I saw that kind bull. At that time, a voice in my heart told me: Stay, this is where you belong!"

"I choose to follow my inner voice. I walked in with the fifty dollars I had."

"Wall Street has responded generously to me. A week later, I had $100,000!"

"This is Wall Street, this is New York, this is America. A country full of freedom, full of miracles, and able to make dreams come true!!"

In the audience, Tedelerna couldn't help but say to his daughter again: "I think this kid may be able to mix well if he goes to run. He's so good at bragging!"

Fifty dollars, a week on Wall Street becomes a hundred thousand dollars?!

Fool whom?

Las Vegas has a 1 in 10,000 chance.

Wall Street, $50?

Those investment managers will just kick you out!

Ikana finally couldn't help but give her father a blank look

, while looking at Abel excitedly, retorted:

"Don't talk nonsense, Dad. I think he's that kind of person, that's right, he's the epitome of the American dream!"

Ikana's sanity actually told her that Abel was just a speech.

But in her eyes, Abel has a halo bonus.

In addition, if those numbers were exchanged for cash, the whole hall could be filled.

Under the double BUFF, whatever Abel says now, Ikana thinks it's true.

This is probably also in the eyes of a lover.

After all, she is the one who has been given the most serial PUA by Abel.

It's a bit of Stockholm anymore.

Tedlerna pouted again, and Abel's speech on the stage continued.

「. When I made my first half a billion dollars."

"I don't think the American dream can be seen on my own."

"I'm going to bring the American Dream to everyone, and I'm going to make everyone's American Dream a reality!"

"I want to share my success with all Americans!"

"Smith Capital will be open to the public, and my talents will be open to the public."

"I'm going to bring my abilities to the whole of America!"

"I would like to be an investment manager for all Americans, so that Americans' salaries can continue to increase. Let everyone have more money, so that everyone can live in a good house and drive a good car!"

"Tonight is the beginning!"

"From now on."

"Let's suffocate our American Dream together!!"

At the end, he raised his right hand high, showing emotional excitement.

The guests in the audience, whether it was true or not, also hurriedly applauded.

Applause was in the air.

The reporter who was mixed in with the waiters was already shooting with a camera in the open.

There were no bodyguards or security guards to stop them, and the reporters were all excited.

This Madefaq will definitely be big news tomorrow!

Abel Smith made such a big news again when the Smith storm began to fall silent.

The happiest are their reporters.

In fact, Abel's speech with a think tank designed good lines.

It's against these journalists, and the large number of American readers behind them!

Otherwise, I really think that the work of rock security is strong.

More than forty waiters, seven or eight reporters mixed in.

Some even got cameras in.

Is it true that Rock Security can't be found?

It's just a deliberate attempt to let them in.

It is to let them take pictures of the appearance of giant crocodiles, and let them shoot the "spoils" of Smith Capital on the PPT.

Then let them film Abel's words and speeches of "suffocating for the American dream".

This time, Abel wants to woo more than Buffett and other giant crocodiles.

This time, he wants all Americans to know that their Smith really wants to make a fortune with them!

This scene tonight was improvised by him.

Then the think tank spent a day, urgently thinking of the lines of speech and steps.

At present, it has little effect on the guests in the on-site cocktail party.

It's not as impressive as the numbers announced earlier, which shocked them even more.

But the final speech, which Abel was supposed to address, was the audience behind the reporters who were taking pictures.

It's one thing to succeed or not, but Abel did just that.

The cost is just a brag.

If he succeeds, he will be able to ascend to the position of the god of investment in the United States.

The influence among civilians may be greater than that of Warren Buffett.

Why not?

In the fight for "The American Dream

After that, Abel ended his speech decisively.

Let him blow it again in the follow-up, he can't blow it out.

Those lines weren't what he had in mind.

As for whether these lines have an effect on ordinary Americans, it depends on tomorrow.

To the giant crocodiles who gathered around after his speech.

He changed the excitement he felt about the American dream.

has changed back to the original gentle and introverted Ansar rare beautiful man.

Facing the crowd that surrounded him, he got straight to the point.

"Just like I said in the invitation."

"Smith Capital is about to launch its first round of funding," he said.

"Smith Capital's ability to make money is obvious to all."

"Here I might as well tell you directly about my personal first-round valuation of Smith Capital."

"And how much?"

Richard Forder, the most impatient of personality.

Before Abel finished speaking, he couldn't wait to ask.

Including Warren Buffett, even George, who is not in the capital circle, looked at him curiously.

Abel smiled, raised his right hand directly in front of everyone, clenched his fist, and let go, his five fingers spread wide.

"500 billion dollars." Abel whispered.

This number immediately made the giant crocodiles present react greatly.

Or the bulldogs of Wall Street.

Richard Forde exclaimed:

"It can't be, sir! 500 billion dollars? What are you kidding?"

&4 years, Lehman Brothers was listed on the New York Stock Exchange through an IPO.

This year marks the 150th anniversary of Lehman Brothers.

Its share price topped $100 for the first time and entered the S&P 100 index, making it one of the five largest or four largest investment banks in the United States.

Even so, Lehman Brothers' market capitalization at its peak did not exceed $100 billion.

The other big four investment banks are similar, including Goldman Sachs, most of which have market capitalizations in the $50 billion to $80 billion range.

In terms of market capitalization, investment banks have never been the most heavyweight in the ecological chain of Wall Street.

Abel's market value of $500 billion is more exaggerated than the combined market value of the four major investment banks.

How does this make them agree?

Paulson couldn't help but say, "Mr. Smith, you're whimsical."

David Comansky didn't speak, his position at Merrill Lynch was about to fail.

Morgun Stanley, which is currently the first investment bank, and CEO Philip Purcell also frowned.

The other giants, including Warren Buffett, stopped talking.

500 billion dollars, which is also too exaggerated.

Abel smiled and said:

"I want to ask, Lehman Brothers, Goldman Sachs, Morgen Stanley, Merrill Lynch."

"Four gentlemen, can the profits of your four investment banks in the second half of this year exceed $16 billion?"

No one answered this question.

Because obviously not.

The total profits of the four major investment banks last year combined were not $18 billion.

Not for the whole of last year, let alone the second half of this year?

If there are half of them, they are considered passing.

"Probably not, right? Since there is none. As far as I know, the combined market capitalization of the big four investment banks is now close to $400 billion."

"You who make so little money are worth so much money."

"Smith Capital, which makes more than twice as much money as you, why can't it be worth more than you?"

When he said this, everyone present suddenly heard it and felt a little reasonable.

But if you think about it carefully, it's basically a strong argument.

"You can't say that." Philip Purcell spoke.

"Mr. Smith. Whether it's Lehman Brothers or Morguns Stanley, or Goldman Sachs

with Merrill Lynch."

"We all have a long history, and we have accumulated authority, reputation, heritage, customers, and traditions."

"We have these to support our market capitalization. What's more, we still have assets."

Philip Purcell was interrupted by Abel.

At this moment, Abel seemed aggressive, and he said directly:

"But you don't make enough money compared to me!"

At this moment, Abel behaved.

Just like an authentic American.

In the future, there will be four shifts every day, and it will be changed to two shifts at 12 o'clock in the evening, and two shifts at noon during the day. I will adjust it back when I have saved the manuscript, but now I don't have a manuscript.