Around eleven o'clock in the morning.

In a hotel in Los Angeles, Abel and Anne do yoga together.

Abel suddenly discovered that yoga was a great exercise.

Good for the body and mind.

When I saw Anne's graceful figure, I made a difficult yoga pose that showed off her curves and was very tempting.

Abel suddenly fell in love with the sport and decided to do yoga with her.

While Abel and Anne were concentrating on learning to do yoga.

The mobile phone placed at the head of the bed kept vibrating.

Severely interfered with his yoga studies.

"Honey, or ...... You're still ...... Take a look at your phone, just in case...... What's important?"

Anne bit her lip and said.

She was covered with sweat on her forehead, and it was very physically demanding to practice yoga.

It is necessary to maintain a fixed posture for a long time, and the energy consumption is very large.

"Leave it alone, just concentrate on teaching, you know?"

Abel held Anne's waist and helped her hold her position.

"Hmm!" Anne hummed softly and ignored the phone.

Yoga lasted for more than an hour, Anne was sweating all over, and Abel was also a little sweaty.

He found that some of the movements in yoga were really difficult.

After doing a set of yoga movements, I feel refreshed and relaxed.

Abel took the tired Anne to the bathroom for a comfortable bath.

After taking a bath, he carried her back to the hotel suite bedroom and went to bed.

Anne half-squinted, lazily lying in Abel's arms, looking particularly coquettish.

Abel hugged her while picking up his phone and flipping through it.

He has three mobile phones on a daily basis.

One is the No. 1 phone.

This mobile phone number is known only to his woman, family, and relatives.

It was he who used it for intimacy.

Usually when he is with another woman.

He won't take this phone.

This phone will be placed in David. Jones's side.

This is the case like it is now.

The other two mobile phones, one is for business calls.

When you are in contact with people in the company and those who are in business.

That's the phone that was used.

The last one is a satellite phone, which is basically only used when the phone is not very convenient to use.

The mobile phone that rings at this time is the second mobile phone.

He didn't look at who was calling.

Instead, I looked at the text messages on my phone first.

Seven or eight unread text messages, most of them were sent by those investment banking giants and Wall Street oligarchs last night.

Philip Purcell: [Hey, dear Mr. Smith. I want to treat you to a meal, I wonder if you will appreciate it?" 】

Paulson: [I heard that there is a very nice Chinese restaurant in Lower Manhattan, Mr. Smith, are you interested?] 】

Richard Forder: [Mr. Smith, Lehman Brothers wants to talk to you]

【. 】

The text messages sent by the top executives of these investment banks are all similar in content.

They all wanted to invite Abel to dinner, or wanted to talk to him.

Even if it was last night.

Because of Abel's operation, these investment banks basically suffered a small loss.

Most of them have lost some money more or less.

But now, they don't seem to mind anything about it.

One by one, I wanted to make contact with Abel.

Even if the valuation was as high as $500 billion, they shouted cheating dad at the time.

But later, I still want to talk about it.

"Sure enough, the benefits are moving!" Able shook his head slightly.

He looked at the unanswered call log again and found that it was marked "Richard Kovaciwicz".

Richard Coe

Vasiewicz is the current CEO of Wells Fargo.

Wells Fargo, the largest mortgage originator in the United States, has been mediocre thanks to its steady, pragmatic business strategy.

But it also has the most stable yields among major U.S. banks.

This makes it popular with more conservative American investors.

It is the only bank in the U.S. that has a AAA rating.

It is also one of the most valuable banks in the world.

Its total assets under management have reached $800 billion this year.

This is true for the big banks in the United States that generally like the investment banking ethos.

It's kind of an outlier.

In line with the practice that eggs cannot be placed in a cage.

Smiths Capital has cooperated with each other many times before.

It is to let the other party act as a middleman, act as a guarantor, that kind of ordinary financial cooperation.

About four days ago, Abel had an idea to make a lot of money.

At the same time, it made Wall Street realize that he Abel Smith was not without conflict with Wall Street.

But it wasn't necessary, and once he had that thought.

He's going to make Wall Street suffer.

So in four days, he did not pass Smith Capital and David Mellon.

He secretly sent his own think tank to contact Wells Fargo and Citibank.

By mortgaging his assets on the Los Angeles side, as well as his personal line of credit.

Obtained three billion dollars of loan funds, and then used these funds to enter the international foreign exchange market.

Through the guarantees of these two banks, the leverage of funds from a number of other banks is sought.

Compared to before, he did not hide the flow of funds at all.

This time, his cooperation with these two banks was very secretive.

The Wall Street giants who shorted were used to his previous openness and relaxation.

There was no vigilance in his operations in this regard.

let him finally succeed in stealing chickens, and Xiaoxiao made them suffer a loss.

It's after that, if you want to do this again, it's more difficult to hide from them.

Unless it takes longer and is done in a more complex way.

That would not be possible to go through other banks, but to let Smith Capital do it himself.

And it must also have at least one bank of its own.

A bank of its own.

Abel marked this in his heart.

This will be his next greatest effort in the financial field.

This Richard Kovaciewicz who just called.

It was the CEO of Wells Fargo, who was in contact with Abel throughout the deal.

It must be mentioned that two years ago Richard Kovaciewicz was not the CEO of Wells Fargo.

At that time he was the CEO of a company called Northwest Bank.

&8 December, he broke with the usual practice.

Acquired Wells Fargo, a bank with $93 billion in assets, for $35 billion.

However, Richard Kovaciewicz completed the acquisition at a premium of only 9% above the market value of Wells Fargo.

This is very rare in the day-to-day large-scale commercial acquisitions.

It was a very successful acquisition.

Compare that with Richard Kovaciewicz's deal.

Not so long ago, there was a transaction of similar size in the international banking sector.

That was Credit Suisse First Boston, which acquired the Fleet Bank of Boston.

In contrast, the latter pays an extra 40% premium for this.

Buy something for 100 yuan, give 109 yuan or 140 yuan.

I believe everyone can understand the gap here.

After the merger, Wells Fargo became one of the largest banks in the United States.

For two years, Richard Kovaciewicz has run it very well.

With his phone in hand, Abel dialed.

The phone didn't ring twice, and the other side was quickly connected.

"Mr. Smith?

"It's me. Good morning, it's already noon. Mr. Kovašić."

"Hahahaha~ Good afternoon. And I think it would be better if you could call me Richard!"

"Okay, then Richard. But Richard, you can just call me Abel."

"Understood, Abel."

On the other side of the phone, Richard Kovaciewicz appeared very enthusiastic.

As soon as they came up, they wanted to win over their feelings, and before this transaction, the two didn't even talk once.

That's normal.

Although Smith Capital, when the capital is operating, likes to disperse the funds among the major banks.

But this dispersion also has some preferences.

Some banks have a good relationship with Smith Capital, such as the big four investment banks - this is really not a joke, Smith Capital has indeed had the best relationship with these four banks since its establishment.

This may also be the reason why these four investment banks are very concerned about Smith Capital's actions every time.

For the big four investment banks, Smith Capital, which provides commissions and interest quickly and stably.

It's their best quality key customer template!

They have 10 clients a year like Smith Capital.

It is estimated that their annual profits can be doubled on the current basis.

Among these banks, Wells Fargo is a financial group that does not have a very close relationship with Smith Capital.

In the banking industry, Smith Capital, which likes to operate quickly and has a large monthly trading volume, has always been the most popular type of company.

Because this can provide them with more interest and commission income for middlemen and guarantors.

Smith Capital has always been generous.

In other words, partnering with Smiths Capital in this area can bring great commissions.

Wells Fargo, which had no personal relationship with Abel before, took advantage of this opportunity.

Richard Kovaciewicz, who clearly wants to be close to Abrahim.

So that Abel can choose a middleman guarantor in the future.

You can work with Wells Fargo more.

Again, it's all about profit.

"Abel, do as you ask. We've been closing your account since last night."

Richard Kovaciewicz was on the other side of the phone, and said in a somewhat regretful tone:

"The total floating profit started with $1.156 billion."

"But you asked to close the position too quickly, we had to give up some floating profits, and eventually there was a profit drawdown, and your actual profit is currently $690 million."

The CEO of Wells Fargo is talking about a long dollar trade that Abel started to open four days ago.

After 10 o'clock last night, he contacted the other party and began to close the position.

Because those giants who shorted the dollar, after finding out that the general trend is inviolable.

They all chose to cut the meat and quit at a loss of 100 million.

According to Richard Kovaciewicz's idea at the time, if the closing speed could be slowed down a little.

Higher profits were guaranteed at that time.

But Abel refused, and he asked Wells Fargo and Citibank to close their positions as quickly as possible.

This made the originally very good-looking floating profit shrink by more than half.

This is often the case in foreign exchange and futures trading, where a little carelessness occurs.

This call from Richard Kovaciewicz right now.

It is to tell Abel that Abel has laid out the final situation of this investment for three days.

"It's already pretty good. Richard. I've never been greedy

。 $690 million is already a lot of money." Abel said with a smile.

Earn $690 million on a single investment, which is not common in the capital markets.

He's a talented person, and every time he uses the same high leverage as a gambler.

Under the high risk, the high return will be so exaggerated.

If you change to a normal investment manager, you need to use at least $10 billion or $20 billion in principal.

It is possible to make so much money in two or three days.

And they can't guarantee a guaranteed profit, not a guaranteed loss.

"Haha~ Okay." Richard Kovaciewicz laughed over there.

"Then Abel, I'm on the plane to New York right now. I'll get off the plane in an hour."

"Can you appreciate your face then, I want to treat you to a meal~ Celebrate your profit in investment this time!"

"Huh? I'm sorry about that. I'm in Los Angeles right now."

"Uh" Richard Kovaciewicz wanted to say, weren't you still in New York in the middle of the night?

But if you think about it, it's only about six to five hours to fly from New York to Los Angeles.

Besides, businessmen of their level.

It's normal to fly around all over the United States.

Richard Kovaciewicz said pitifully, "Well, that's a pity."

"It's a bit of a pity." Abel smiled and said:

"By the way, Richard. Help me return the funds in my mortgage account to Wells Fargo. For the specific commission and interest, you can just list a bill for me."

Richard Kovacievich said right away:

"Huh? Is it so fast? Abel, I can give you another 50% discount on the previous interest."

"You don't need to pay back this loan right away. You can use this loan to make more money."

"I'm sure with your abilities, it's not that hard."

The financial industry, or the banking industry, is this urine.

For successful businessmen, they wish they could borrow as much as possible.

The interest is also as cheap as possible, and some are close to interest-free.

Even if such businessmen do, they sometimes don't need a loan at all.

And those businessmen who are in dire need of funds and are in need of loans.

The interest rate on the loan they get in the bank is often very high.

Send an umbrella on a good day, and draw an umbrella on a rainy day.

That's the best way to describe these people.

"I'm sorry, Richard. I'm not bad for money. You know, I chose Wells Fargo because Wells Fargo is more stable." Abel whispered.

Richard Kovaciewicz was silent over there.

In the end, he smiled and said on the phone, "Okay, no problem. Wells Fargo is here for you!"

"Thank you, Richard. I still have some things here, so I won't talk to you about them yet."

"Yes, no problem."

After hanging up the phone, Abel thought about it and looked up the name of another person on his phone.

Hit it.

The time of the call was about the same as that of Richard Kovaciewicz.

The person who spoke this time was John Reed, the CEO of Citibank.

The content of the conversation is similar to that of Richard Kovaciewicz.

It's about paying off your mortgage and knowing what the money is going to be.

Mortgage and line of credit after all payments back.

Partial interest and commissions are deducted.

This time, Abel quietly carried out this operation through Citi and Wells Fargo.

The total profit is 6.9+4.5, a total of $11.4.

The reason for this is a gap of more than $200 million.

It was Abel who invested a little less money in Citi for insurance.

The funds do not go to Smith Capital's account.

It was Abel's own personal earnings

money, and has not yet gone to specific company accounts.

This means that if this money is not subject to tax avoidance and tax reduction operations.

A large portion of this money will be collected by the IRS as taxes.

But this was also Abel's purpose.

He is really paying taxes legally, and he doesn't even deliberately avoid it.

But he's not really a complete transparency of his income, let. The IRS can take a good fool's shoulder.

It is necessary to go through the process of tax avoidance appropriately, and that still has to be done.

For example, right now, the big head on Smith Capital's side.

It's time to start avoiding taxes reasonably.

Otherwise, if you have to use more than 10 billion profits to pay taxes, it will be too painful.

But in order to maintain a good relationship with the IRS, there is also a good image of him paying taxes according to the law.

And you can't stop supporting the IRS all at once.

After thinking about it, Abel decided to use his private account to trade once or twice a month.

Try to achieve an annual profit of about 4 billion US dollars, and all of them will go through the full tax channel.

That's how much he spends on maintaining his personality.

It is also the protection fee that allows the IRS, the most powerful relevant department, to always stand firmly by his side.

There is IRS, FBl who is afraid of an egg!

& If you are looking for something, you can check FBl headquarters at any time!

Like the last time the Manhattan District Attorney's Office.

If only Robert's side hadn't reacted after the storm of lawsuits.

He wanted to go to the IRS at the time.

Let the IRS go play with Robert Morgenthau!

He had already vaguely expressed this to the IRS at the time.

&'s deputy director, Jed, also vaguely said at the time that they were very willing.

That's where protection fees come in.

There are generally two types of money earned from this investment.

Investment income is normally taxed in the U.S. as capital gains tax.

Capital gains tax is around 15%-20%.

In the case of stocks, there is a dividend tax and another tax.

However, the U.S. tax law stipulates that profits generated from financial transactions such as stocks, futures, and bonds held for no more than 12 months are not subject to capital gains tax.

There is a more expensive personal income tax

According to the current tax law.

The personal income tax in the United States is divided into 7 brackets from 10% to 37%.

The income of a level like Abel is naturally the highest at 37%.

This 37% tax rate includes U.S. federal, state, and local*** taxes on personal income.

According to the different levels of collection, it is divided into federal personal income tax, state personal income tax and local personal income tax.

The bulk of the money is basically in the federal personal income tax.

The state and local share is small.

Therefore, some relatively wealthy or complicated states in the United States simply do not levy personal income tax.

For example, in Texas, you only need to pay federal personal income tax in Texas, and you don't have to pay other income taxes.

In the case of personal income tax, the rate of state tax is generally 1% to 11%.

That's why Texas has been so popular with the new rich in recent years.

It's tax-free, even if it's just a little, it's money.

Abel's $1.14 billion profit is not taxed at all.

Almost $420 million was to be paid at one time.

It's so painful.

This will probably be in recent years, and maybe even in recent decades.

Maybe ever.

& In the area of personal income tax, I got the largest amount of the highest tax paid by a single individual.

But in order to maintain the character, and this is mainly the purpose.

At the same time, he continued to build a good relationship with the powerful department of the IRS, and Abel still chose to pay the money.

It's just that later, he'll ask the IRS to do certain things.

In addition, compensate yourself.

And depending on the urine between the various powerful departments in the United States, the IRS is likely to be very cooperative.

You know, within these powerful departments, they have their own work indicators.

Abel, a good baby who pays taxes according to the law, is a good baby for them to meet the target in the eyes of the IRS.

Like last time, Deputy Director of the Federal Directorate of Internal Revenue Jed.

When Abel created his own character.

As the deputy director of the IRS, Jade did not hesitate to stand up for his person.

This is arguably the first time in the history of the IRS.

For the first time, the IRS endorsed a wealthy man's good tax character

You must know that before this, the IRS has always been the department that the American rich people fear the most, and at the same time, it is also the most hated and resistant.

It can't be said that it is rare to be like Abel.

It's unique.

After all, such a large amount of taxes, even Abel is a little painful.

Fortunately, for him, the money is simpler than the wind blowing.

The money blown by the wind has to be picked one by one with "hard work".

And Abel earns all this money, just a few phone calls

Thinking about it like this, Abel was not so distressed.

He threw his phone back on top of the cabinet.

He turned around and hugged Anne, who was so tired that she had fallen asleep.

"Get up~ Honey, let's do yoga again!"

"Huh? Come back~"

Anne, who was woken up, felt soft and numb.

You can't do yoga on your own.

It's hard to do yoga with Abel!

Think about doing yoga with a big sandbag on your back.

Even this big sandbag itself has a certain role in maintaining posture.

But it's going to be tiring.

But I haven't seen him for more than a month.

Anne was reluctant to refuse him.

She had no choice but to reluctantly, worked hard, sweated again, and took the yoga pose that she had just practiced for a long time.