This time, from his hometown of Texas, he returned to New York.

To be honest, Abel's mood is not very beautiful.

Even Yin Sha's Christmas Eve show.

It was counted by AGB Nielsen and had a rating of 32 million people.

It also didn't make him feel much better.

The ratings of 32 million people are really high, and they can be compared to the ratings of the 1993 NBA final showdown.

This rating is also the highest record in the NBA at this time.

The first Yin Sha show was able to do this.

It can be said completely unceremoniously that Yin Lizabeth's backyard fame has been completely launched in the United States and even the world.

This huge advertising effect.

It also made the Yin Lizabeth Garden, which opened the next day on Christmas, full of 100 stores in the United States every day.

In just three days, the total sales of 100 Yin Sha stores in the United States have exceeded 45 million US dollars!

The average daily sales per store is $150,000.

The highest daily sales per store is $280,000, and the lowest daily sales per store is $60,000.

These numbers are all the best in the competition.

The sales of three days are equivalent to the sales of more than 100 Victoria's Secret stores at this time, and more than four months.

This is already a very good result, if it can be maintained.

It can be said that it is completely worthy of Abel's energy and money in this regard.

But Abel was not much joy about it.

Whoever calls it, whether it is Yin Sha Company or Yin Sha Daxiu, it is just a whim for him.

He's in a bit of a bad mood.

This overturned his plan to be silent for a month or two.

He wanted to see rivers of blood flow.

The penultimate day of 2000.

That is, on the 28th of December.

The Smith Building where Smith Capital is located.

Once again, enter the state of the safe house of the whole building.

The Wall Street giants who sent people to keep an eye on Smith Capital.

I got the news right away.

Goldman Sachs, the market surveillance department also immediately notified their CEO.

At the time, Paulson was in a meeting with several company executives.

The purpose of the meeting is to discuss some investment strategies and plans for next year and beyond.

Upon hearing the news, the CEO fell into deep thought.

As far as Paulson knows, Smith Capital has been around for more than half a year.

In the market, Smith Capital has invested a lot of times and actions.

But before that, Smiths Capital had only conducted a company-wide safe house state once.

Paulson knew that in that safe house state that lasted for days.

Smiths Capital has made billions of dollars in profits in the international foreign exchange market.

That's almost more than Goldman Sachs' profit for the whole year this year.

That time Smith Capital's company-wide safe house status.

It's only been a little over a month now.

This time, Smith Capital has entered this state again.

Think of the news that Abel Smith just returned from Texas yesterday.

Paulson had to wonder – could this be Abel's new capital hunt?

Or.... Got support from the Texas side?

Otherwise, as soon as he came back, Smith Capital began to be busy.

Paulson, who has ties to the people on the Texas side, had to think so.

Paulson asked the head of Market Surveillance a question.

"What happened to the stocks of Smith Capital in the stock market that I asked you to track?"

The person in charge immediately replied:

"131 stocks, the vast majority of which are rising. The fastest grower, which has risen 76% since Smith Capital bought it. ”

Stocks are relatively public investment products.

Coupled with the Wall Street giants, you can get first-hand market intelligence.

Unless when investing, there is a complex diversification of holdings, which is held in hundreds or thousands of accounts.

Otherwise, a single company holds the shares. It is difficult to hide the detection of giants such as Goldman Sachs.

Smith Capital's investment in the U.S. stock market did not want to hide it from others.

Anyone who cares about it can find it out as soon as you check it.

Be a little more attentive and send some elite analysts to keep an eye on.

In this way, you want to know how much these stocks of Smith Capital are rising and falling on a daily basis.

It's not too difficult to do.

"That's according to your calculations." Paulson said:

"How much money has Smith Capital made or lost so far on these stocks?"

The person in charge already had the exact number, and he immediately replied:

"As of today's opening. Our estimate is Smith Capital, and the account value of these 131 stocks is about $15.6 billion to $16 billion. ”

Hearing this number, Paulson's bare face and eyebrows furrowed.

Paulson remembers Smith Capital's investments in U.S. stocks.

Analysts at Goldman Sachs have analyzed it before.

Account value of Smiths Capital.

It's about 13.5 billion, to about 14.5 billion dollars.

According to this valuation.

With a minimum of $13.5 billion, Smith Capital has invested in U.S. stocks and has made a profit of more than $2 billion so far.

Based on the calculation of $14.5 billion, Smith Capital's profit in the U.S. stock market is at least $1.5 billion.

This... How many days has it been?

In less than half a month, you made so much money?

When Paulson learned of the data, he was speechless for a long time.

Eventually, he ordered the Market Supervision Department to "continue to monitor." Look at what financial products they invest in in this state. Get the exact news later! Remember to notify me right away! ”

"Remember, be notified anytime, anywhere! Twenty-four hours, no matter what time of the day, understand? ”

Twenty-four hours on call, all too common in the financial sector.

Even Paulson's high position is inevitable.

Who is the global financial market, which is always changing, and there is a market trading 24 hours a day.

Goldman Sachs received the news here.

The other Wall Street giants, naturally, did not let go.

Giants such as Merrill Lynch Securities and Morgun Stanley also received information that Smith Capital had once again entered the safe house state.

Unlike Goldman Sachs, which is somewhat cautious because of Paulson.

Merrill Lynch and Lehman Brothers, when they got the news.

Stanley O'Neill, and Wall Street's bulldog Richard Forder.

These two Wall Street oligarchs are much more radical and excited.

Stanley O'Neill rushed to the company as soon as possible.

The black president, who convened the relevant personnel of the company's investment department.

The same goes for Richard Foord.

And these two companies are not the only ones.

There are many giants on Wall Street who are staring at Abel.

They all made different reactions, but some of them reacted similarly.

After that investment reception.

Abel made the move of setting up his own commercial bank.

And his approach is undoubtedly a showdown on Wall Street to some extent.

As a result of the showdown, the entire Wall Street became wary of him.

A covetous gaze cast on him.

Also last month, he deliberately made David Mellon miss several times in an investment operation.

has been greatly enhanced.

As if after that day.

The aura of the wolf of Wall Street is gone.

No one is afraid of him anymore.

Everyone wants to be on Smith, like Goldman Sachs, Lehman or Merrill Lynch, to see if they can tear off a piece of meat.

Even if many people actually know about it.

Those failed operations of Smith Capital were probably not done by Abel.

But in the eyes of these people, after those few times.

It's like Abel Smith, there is a crack in the unbreakable gold body in the capital market.

Everyone began to probe and everyone began to monitor.

Everyone wants to see if they can snipe at each other in Smith Capital's next operation.

About three hours later, at noon on December 28.

Most of the giants of Wall Street have already found out.

The investment direction of Smith Capital, which has entered the safe house state.

It's Forex!

Abel Smith plays the most, profits the most, and is also the riskiest financial variety.

Everyone found that this time, Smith Capital put a lot of money into the USD/JPY currency pair.

This time, Smith Capital, most of the funds are operated through Pacific Commercial Bank.

The other part of the funds is through Wells Fargo and Citibank.

It's no longer the same as before, and the investment bankers are close.

This makes those Wall Street investment banks only know that Smith Capital has a large amount of funds this time, with a principal of at least more than one billion dollars.

But the exact amount of money, and the exact flow of money, is not captured.

Smith Capital has its own cash flow center.

There is no way to fully monitor its investments and capital flows.

Wall Street giants can only judge by the approximate flow of funds.

Smith Building.

On the third floor of the trading floor.

At noon, Abel was watching the USD/JPY currency exchange against the screen wall.

Indeed, it is just like some of the intelligence that the Wall Street giants have detected.

This time, Smith Capital is targeting the USD/JPY currency pair.

To be exact, Smith Capital is opening a short position on USD/JPY.

Today, USD/JPY is trading at 107.700.

The USD/JPY bull market has been going on for almost three years since 1998.

The USD/JPY bull market in the second half of 2000 came to around 107.

At this juncture, international speculators and neon cabinet domestic investors are somewhat divided in attitudes.

Half of them insist that this time the yen may be able to reach the 100 or even 90 exchange rate of 1994 and 1995.

This part of the people is similar to the judgment made by the neon cabinet in their own country, as well as those who are relatively optimistic about the neon economy.

The other half believe that the yen is unlikely to strengthen any longer.

Because if it continues to strengthen, it will greatly suppress the economy of an export-oriented country like Neon.

In addition, there are many long-term bulls in the market who have begun to close their positions.

The strength of the support for USD/JPY is also getting less.

In the event of a large-scale unwinding of bullish positions, USD/JPY will also collapse at the intersection of the New Year.

But none of this is Abel's analysis.

The reason for him to make this judgment is simple.

His talent tells him that the three-year bull market in USD/JPY will usher in a huge pullback.

To that end, for a whole morning, Smith Capital has built 50,000 hands short.

The average position opened is 107.500.

This makes Smith Capital still lose money at the moment.

A short position of 10 lots of USD/JPY, with a fluctuation of one point is $500,000, and the current floating loss is $10 million.

The $10 million was just a drizzle for Abel, and Abel didn't care about it at all.

But the traders of Smith Capital, who is in charge of the operation, and David Mellon, are already a little worried.

Because before that, the capital investment led by Abel.

From beginning to end, there are almost no floating losses.

It's about winning and winning all the time.

This is still on Smith Capital's account.

When Abel's request was made, there was a floating loss for the first time.

There was a slight worry in everyone's minds.

Abel asked Smith Capital to open a position and continue to short.

However, he asked Smith Capital not to be too fast in the speed of opening positions.

This is because even with his current financial knowledge.

Also know in this case.

If you open too many positions too quickly, you can short a short order of more than 100,000 lots of USD/JPY at one time.

It is estimated that the market will not be able to digest it, and it will easily cause USD/JPY to plummet.

Abel didn't want to do that, and his talent allowed him to eat as much as he could in the highest area.

That keeps the profits higher.

It was one o'clock in the afternoon.

Abel saw that now USD/JPY has rushed to the 107.500 level again, and immediately shorted 10,000 lots of USD/JPY!

This approach immediately knocked USD/JPY down by 5 points before it was supported.

Then USD/JPY began to fluctuate.

After 5 minutes, he rushed up again.

Abel immediately shorted 10,000 lots again and suppressed it again.

And so back and forth, many times over and over again, USD/JPY could no longer rush above the 107.500 level.

It is oscillating above the 107.400 level at the moment, but the support is still strong at the 107.400 level.

Seeing the trend of USD/JPY at the moment, it is in line with the judgment in his "talent".

This makes Abel sneer - this time, let you see, what is the big short on Wall Street!

From morning to now.

Smith Capital shorted 50,000 lots of USD/JPY at 107.500.

At present, Smith Capital holds a total of 100,000 short positions in USD/JPY.

The floating deficit has reached more than $30 million.

A standard position of 100,000 lots, if you don't use leverage, is enough for 10 billion US dollars.

Smith Capital's free funds are currently only about $3 billion.

Without leverage, it is impossible to leverage such a large amount of money.

Therefore, in this investment, Smith Capital also used leverage.

It's just because I can't trust the investment banks on Wall Street.

This time, there are only three banks left in Smith Capital's guarantors.

They are Pacific Commercial Bank, Wells Fargo and Citibank.

Fifty percent of the funding comes from the Pacific Business Corporation, and the other half is by Citigroup and Wells Fargo.

Although Citigroup and Wells Fargo are two banks, they are also part of Wall Street.

But no matter how you say it, the main business of Citigroup and Wells Fargo is still on the side of commercial banks.

This is far more credible than other investment banks.

In addition, they are well-funded, which supports the capital needs of Smith Capital.

The two banks each gave Smith Capital 8 times leverage.

Abel has $1 billion in margin at both banks.

In other words, he could leverage a total of $16 billion in funds from these two banks.

The rest of the Pacific Commercial Bank, the leverage is very exaggerated.

Abel's margin at Pacific Commercial Bank was the same as a billion dollars.

But the Pacific Commercial Bank, gave him twenty-five times the leverage....

His $1 billion at Pacific Commercial Bank can leverage $25 billion.

Such a large amount of money, such an exaggerated leverage.

This is almost impossible with any other bank.

But who is called Pacific Commercial Bank, is his personal wholly owned bank.

As long as he, the boss, is willing to take risks, as long as the Pacific Commercial Bank has enough funds.

Even if he uses $100 million, he can leverage so much money.

In terms of formalities and laws, it is also completely reasonable.

That's the advantage of having your own bank and having enough money.

Of course.

There is a cost to doing so.

One is... Interest and commissions are paid, even according to the minimum standards required by the Federal Reserve.

Otherwise, it is illegal and will be punished by the regulatory authorities.

Another....

It's this high leverage, or internal leverage.

If it were to be exposed, it could cause concern among Pacific Commercial Bank's customers.

This would trigger a possible run on the Pacific Commercial Bank.

That is, at any cost.

Abel's current "ammunition" on hand is 80 + 80 + 250, a total of 41 billion US dollars.

At present, 100,000 short positions have been opened, costing about 10 billion US dollars.

He also has $31 billion in stock funds.

It was two o'clock in the afternoon.

When USD/JPY is falling again.

Abel seized the opportunity and once again shorted 5,000 lots of USD/JPY.

Suddenly, USD/JPY fell by two points again, and then was supported again at 107.400.

Abel immediately continued to increase his short position by 5,000 lots, and the USD/JPY pair failed to gain a foothold at 107.400.

After a little more than ten minutes, USD/JPY slipped 10 pips and reached the 107.300 level.

The stat milestone given in "Talent" has arrived.

Albert was overjoyed and continued to increase his shorting of USD/JPY.

......

At the moment, Merrill Lynch Bank's trading department, inside a unique office.

Stanley O'Neill watched as USD/JPY fell again.

He looked back at Charlie Scharf, and the CFO replied softly:

"It's almost certain. Smith Capital is massively shorting USD/JPY. ”

"Did he judge that the yen bull market was over?" Stanley O'Neill asked.

Charlie Schaff shrugged: "Who knows? But he dared to short such a large sum, he should think so. ”

Stanley nodded, thinking for a few minutes.

Suddenly, the black president asked, "How profitable is our long account?" ”

The USD/JPY bull market has been going on for almost three years, and at the beginning the bulls and bears fought very badly and were in a relatively balanced state.

But since two years ago, the bears have been insufficient, and there have been short-term massacres.

Since then, there have been a lot of bulls who have gone long for the long term.

This relatively stable long-term line has been entered by companies such as Merrill Lynch and Goldman Sachs.

"There are about 50,000 hands left." Charlie Schaff replied.

Hearing this data, Stanley decisively ordered Merrill Lynch's trading department.

At the level of 107.300, a long order of 10,000 lots of USD/JPY was decisively opened.

The black president of Merrill Lynch continues to be bullish on USD/JPY.

Why did Stanley O'Neill gradually replace the company's former CEO in the past two years?

In addition to the fact that he is very good at being a man and can please the board of directors.

Also because since three years ago, Stanley O'Neill has been trading against the dollar/yen pair.

It made a lot of profits for Merrill Lynch.

In the past two years, Stanley O'Neill has been long USD/JPY on dips, adding up to $2 billion in profits, which is really refreshing.

This staggering profit, coupled with his very strong office intrigue skills.

It was only then that Stanley O'Neill gradually set aside the original CEO.

Otherwise, it's just office skills.

In the four major investment banks, you may be able to mix, but you will never be able to occupy a high position.

Investment BankingInvestment Banking, Investment Banking.

In the end, if you want to get to the top, you still rely on your ability in the investment field.

Now Stanley O'Neill is still bullish on USD/JPY.

Although the USD/JPY rally has started to slowly taper recently.

However, in his opinion, USD/JPY still has a long upside.

So Stanley O'Neill isn't in a hurry.

Stanley O'Neill's long order of 10,000 lots of USD/JPY, plus other long orders.

About 30,000 lots, immediately swept away the short list in the market.

As a result of this behavior, USD/JPY rushed up again, rising from the 107.300 level to the 107.390 level.

.....

On the other side of Wall Street.

Lehman Brothers, Transactions Department.

Richard Forde had just made up his mind to get the Deals' men.

I bought 20,000 lots of USD/JPY, but I didn't expect to be preempted.

Like I said before.

USD/JPY has been bullish for two years.

There are a large number of investors and institutions all over the world, and they all have a large number of long positions on USD/JPY.

Merrill Lynch is the same, and so is Lehman Brothers.

In the past two years, the neon economy has picked up and the yen has strengthened.

The yen, which is a small neon cabinet, surpassed the British pound last year and became the world's second most widely held world-class currency.

Needless to say, the first, of course, is the dollar.

The market is bullish, plus a large number of longs are long.

In the past two years, no matter which bears have entered the market.

Often, the strong economy of neon, coupled with the alliance of the bulls, is forced to leave the market one by one.

Investment banks like Lehman and Merrill Lynch.

In the past two years, there have been very good incomes in terms of long USD/JPY.

Lehman Brothers now holds more USD/JPY positions than Merrill Lynch.

Merrill Lynch only has 50,000 or 60,000 hands in hand.

The Wall Street bulldog, which has always been very bold, now holds more than 100,000 lots of USD/JPY.

But just confirmed that Smith Capital, under this general trend.

After defying the general trend and starting to short USD/JPY in large quantities.

Richard Ford was overjoyed and thought it was a good opportunity to cut Smith's capital flesh and blood.

As soon as there was a short order in the market, he wanted to buy.

It's just that someone moved faster and swept the list clean before Lehman Brothers could do it.

"Madefak, does anyone see it?"

Richard Fored thought with a frown.

USD/JPY has been rallying lately, albeit in smaller increments.

But it's still in a strong state as always.

In the previous two years, there had been a number of empty massacres.

Richard Forder believes that this should be at least half a year away.

He believes that it will continue to rise in the next six months.

In addition, Richard Fored felt that he could afford to do so.

Lehman Brothers held more than 100,000 long positions, with a total profit of 200 points, which added up to $1.2 billion.

Such a high float made Richard Forde full of confidence.

Add to that the recent USD/JPY move for more than a week.

It was completely in line with Richard Fold's previous mental judgment, which made Richard Foul a little happy.

Richard Fored made the same judgment as Stanley O'Neill.

He intends to continue the growth of USD/JPY and start building positions!

He thinks that this is a good opportunity to take advantage of the general trend and cut off a large piece of meat on Abel Smith, who can't see the general trend clearly!

Now that everyone has already said it, it is clear.

You can't be a lackey, you can only be a rival or a friend.

Then they, the old-timers of Wall Street, will not be polite!

Thinking of this, Richard Forder, who was more courageous, immediately unceremoniously made more than 20,000 hands to enter.

USD/JPY is back in the 107.500 band again.