The train left at 5:20, Dong Qiangqiang finished washing at 4:30, and left the house on time at 4:40. The ride from his home to the train station only takes about 12 minutes. Because the departure was too early, the first bus did not leave, so he had to walk to the train station.
Although it is already April, the sky is about to dawn, and it is as cold as late autumn. The streets paved with cobblestones of different sizes are filled with bursts of misty mist, which turn into clouds of yellow mist under the dim light of the street lights, just like the streets of London described by Dickens.
Dong Qiangqiang put his hat on his head, wrapped his jacket tightly, tightened his backpack straps, took a deep breath, and strode towards the end of the street, his figure gradually disappearing in the mist.
It was only when Dong Qiangqiang arrived at the ticket window of the train station that he found out that there was a direct train from Hannover to Paris every night, and it was a soft sleeper. Although the train ran slowly and it took him an entire night to walk, it was only a short night's sleep, and the fare was It is also extremely friendly to the people, only 29 euros, but now it is too late to regret it. He can only spend dozens of euros to buy a second-class intermodal ticket for the German high-speed rail ICE and the French high-speed rail TGV.
Standing on the empty platform, Dong Qiangqiang heard the voice of his political teacher again: The German high-speed train ICE is the fastest train in Germany. It set a record of 317 kilometers per hour during its first test run in 1985, and set another record three years later. A new record of 406.9 km/h. It was officially put into operation in 1991, with a maximum operating speed of 320 km/h. In addition to Germany, ICE's operating routes also extend to countries surrounding Germany such as Austria, Belgium, France, the Netherlands and other countries. Advanced high-speed rail technology represented the new glory of German industrial manufacturing after the reunification of East and West Germany. At that time, only France's TGV high-speed rail and Japan's Shinkansen could rival Germany's high-speed rail technology.
As the saying goes, things are unpredictable. No one expected that ICE, the most famous brand made in Germany, would overturn. In June 1998, an ICE train traveling from Munich to Hamburg derailed due to wheel failure, which shocked Germany. The accident ultimately resulted in the death of nearly 100 people and minor injuries to more than 100 others, causing an uproar throughout Germany.
After identifying the cause of the accident, Deutsche Bahn immediately replaced all potentially problematic wheels. At the same time, it replaced all the explosion-proof train window glass that caused obstacles for rescuers during the rescue process with new escape glass doors and windows. It is mandatory to equip the doors and windows with life hammers at one time so that passengers can break the windows and escape on their own in case of danger.
Despite such a serious traffic accident, Germans still regard high-speed rail travel as their most trusted mode of transportation. After all, people can no longer go back to the era when they relied on cars and horses to travel.
Dong Qiangqiang got on the car and wanted to start studying the materials Duanmu gave him immediately, but in the warm and even hot car, his head seemed to become heavy. He leaned casually on the back of the seat, feeling a strong sense of fatigue coming over him, and fell asleep in less than ten seconds. It wasn't until he was woken up by the ticket inspector that he felt relieved after getting enough sleep.
The train was expected to arrive in Paris around 12:40 noon. Dong Qiangqiang looked at his watch and saw that he still had nearly five hours of study time. Although there was more than enough time, he did not dare to delay and hurriedly opened the folder Duanmu sent him.
People usually feel hungry after a full sleep. Dong Qiangqiang bought hot milk and hot dogs from the train attendant pushing a dining car to sell food, and ate while watching.
Although the train is fast, it is very smooth. Whether it is entering and exiting tunnels or crossing rivers and fields, there is no bumpy feeling at all.
Perhaps because he was worried that Dong Qiangqiang would be frightened by the hundreds of pieces of information in the folder, Duanmu wrote a eloquent letter of several thousand words to Dong Qiangqiang, instructing Dong Qiangqiang to understand the basic background of the U.S. stock market in 2001-2002 and the Duanmu understands the logic of short selling so that he can carry out his work better.
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One paragraph reads:
At the beginning of 2001, Nasdaq began to show signs of plummeting. In order to maintain the stability of the financial market, the big brother, the Federal Reserve, decisively announced an interest rate cut, and the stock market rose in response.
However, as Wall Street analysts became pessimistic about the economic prospects and the fourth-quarter reports of technology companies and traditional large American companies for 2000 were released that were worse than analysts expected, the stock market, which had just rebounded slightly, fell again.
In desperation, the Federal Reserve had no choice but to announce another interest rate cut, intending to once again boost the stock market and boost investor confidence, but it had little effect.
As more major U.S. companies report lower-than-expected annual reports, the market is increasingly panicked. In view of the continuous fermentation of the Enron incident, which had not completely erupted at that time but had begun to cause panic in the market and stock investors, the U.S. stock market began to show an obvious and continuous downward trend, and it was difficult to conceal the decline even when the Federal Reserve added more interest rate cuts.
The struggling U.S. stock market managed to survive the summer like this. I wanted to launch a desperate counterattack in the crisp autumn, but unexpectedly, the 911 and Enron incidents broke out. It was like a boxer who had reached the end of the match. As soon as the round started, he received a fierce combination of punches, and was beaten to the ground before he could resist.
Although the U.S. stock market rebounded in the last quarter of 2001, the rebound was not due to a simultaneous improvement in economic fundamentals and the profitability of listed companies, but more like a return to the past. Coupled with the war in Afghanistan, prices fell at the beginning of 2002.
Since the U.S. stock market has the largest trading volume in the world and has far-reaching influence, stock markets around the world have been affected to varying degrees. Many established technology companies in the U.S. stock market, especially communications companies and large energy companies, are facing accusations and suspicions of half-truths and overt and covert financial fraud. Especially in March, the famous investor and marathon runner Bill... Rogers publicly questioned GE's revenue on multiple media platforms. At the same time, WorldCom, the second largest long-distance phone company in the United States, also began to formally accept relevant investigations from the U.S. Securities and Exchange Commission.
In a market filled with pessimism and negative emotions, successive incidents of financial fraud are like smelly ghosts, dragging a number of technology companies, Internet companies and traditional companies in the US stock market towards the abyss.
In this atmosphere, short-selling institutions on Wall Street have sprung up like mushrooms after rain. Everyone has one thought in mind: to make a lot of money from him.
Stock trading all over the world profits from the unilateral rise of stocks, and making profits by shorting a listed company is both simple and complicated. The simple thing is that although there are various doubts from different short-selling institutions, all suspicions will eventually fall on the same thing without exception, that is, if a listed company wants to exaggerate its revenue and profits, it must We will start from all aspects of finance, operation, and law at the same time, rather than simply tampering with a few numbers or fabricating a few fake contracts. Therefore, as long as we can find the "whitewashed numbers" in the financial reports of listed companies, we can prove that the company is in financial and operational If there are flaws in the company, especially if these flaws will directly affect the company's revenue and profits, investors can make a short-selling decision.
What's not simple is that finding the "whitewashed numbers" is easier said than done. As retail investors, it is impossible for small and medium-sized investors to see the internal documents of listed companies or understand the actual operating conditions of the other parties. This matter is not easy for experts, let alone laymen. If you want to pick out the bones in the egg, you may not even be able to pick out the dregs. If you want to find that mysterious and critical key to wealth, you must rely on comprehensive and thorough analysis work that combines desk research and field investigation. Only in this way can you find the possibility of discovering problems. Duanmu solemnly told Dong Qiangqiang that he believed that all listed companies on the planet would have problems of varying degrees, big or small, and there would be no company without problems.
Dong Qiangqiang was concentrating on reading when the train suddenly neighed. Before he could react, his eyes suddenly went dark and the surrounding area suddenly became dark, as if someone suddenly turned off the lights in the room.
He realized that the train had entered a tunnel and simply leaned back in his chair to think.
Can I really find the problem with Vivendi? Listening to the regular sound of wheels, he asked himself softly: Does such a well-known large company still need to fake things? What's more, Vivendi is not a US-listed company prone to fraud. Duanmu actually thinks that all listed companies have problems. Isn't this too absolute? But then I thought again: Even if we are as rigorous as the Germans, wouldn’t tragedies like train derailments happen? It can be seen that whether it is a technical problem or other problem, in the end it is actually a human problem. Does that mean that as long as you find the manager with the problem, you can follow the clues and find the problem in some aspect of the company?
Thinking of this, he suddenly felt a bright light flashing in his mind, and an answer was about to come out. Before he could think about it, his eyes suddenly lit up. The bright light instantly enveloped him, blinding him.
After another ten seconds, he slowly opened his eyes. Looking out the car window at the lush trees, vibrant fields, and spring-filled mountains and rivers, he felt thousands of thoughts rushing into his heart.
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