Seeing Duanmu carelessly pinching the fruits in the fruit plate, Dong Qiangqiang covered his heart: "If you invest before you finish adjusting, aren't you worried that the money will be wasted?"
"Worried..." Duanmu's expression remained unchanged, his heart not beating, "I will still buy it."
Dong Qiangqiang knew very well that Duanmu had never been an adventurous person. He should have his own reasons for doing this. He asked curiously: "Is there any other news that I should know?"
"That's not true. I just told you everything I know." Duanmu's expression didn't look like he was telling lies.
"Then why are you still..." Dong Qiangqiang was even more confused.
"What I just said is only the second step you have to take, not everything."
Dong Qiangqiang thought about it for a few seconds, as if Duanmu had indeed said something similar just now: "Then what else is there? Once everything is done, you won't have to worry anymore?"
"What I learned in the United States this time can be summarized in the words of my ancestors. It is not new. It is to make full use of the right time, place and people. The right time is the environment for short selling. Now the entire U.S. stock market is in turmoil due to companies headed by Enron. The market is flooded with all kinds of true and false financial fraud news. You just said that more than 800 companies with financial flaws or financial fraud have appeared in recent years. The current environment is very conducive to our business. The location is convenient. We have found some companies and their financial derivatives that have major or minor problems through various channels and methods." Duanmu paused deliberately as if to show off, prompting Dong Qiangqiang to ask: "That person means to find Current and former employees?”
"No, harmony refers to the vertical and horizontal union."
"Joint vertically and horizontally? What do you mean?"
"As far as I know, there are currently three main types of investors who focus on short selling on Wall Street. The first type is experienced retail investors. They have accumulated rich judgments based on their long-term focus on or trading a certain stock, and they can predict the future of a listed company. Development trends can be judged independently of the market. The third category is ultra-large funds or multinational financial holding groups. They hold huge sums of money and are especially fond of adding fuel to the flames, adding fuel to the fire, adding fuel to the fire, and completely destroying the economic downturn when the financial market is unstable. When it comes to financial crises, such institutions have a huge amount of funds at their disposal, so their short-selling behavior often has a magical effect and often becomes the last straw to crush the market."
"What about the second category?" Duanmu's storytelling ability got better and better after returning from the United States, and Dong Qiangqiang found that he listened with gusto.
"The second type is the investment funds that began to emerge around 2000 with the bursting of the bubble of Internet listed companies. If the third type of investment funds are considered grandparents, then the second type can only be considered grandchildren. They are usually established for a short period of time. , less capital, less popular in the market, and less attention from the market due to their uneven quality, but their shortcomings have also turned into advantages to some extent: because they are not valued because of their shallow qualifications, they will not be like the third category of funds. It is easy to arouse vigilance and hostility; because the amount of funds is small, you can move in and out quickly to make time differences and escape the corresponding regulatory requirements. These are like two sides of a coin. Some institutions among them are helping the third type of investors from the beginning. The leather bag company that does due diligence work has just two or three employees just like you and me. They discovered speculative opportunities during the due diligence process, and after tasting the benefits, they simply jumped out and started their own business."
"I remembered that during the last roadshow, a mentor asked you about our business model." Dong Qiangqiang recalled, "You said at the time that we were not selling reports."
"That's right, not only do we not sell short-selling reports, but we also send them to others for free in the first few years. The more we send, the better, and the more people who read our reports, the better."
"Free? To whom? Can they read it?" Dong Qiangqiang asked three times in a row.
"The ultimate goal is definitely to give investment funds to the third type of grandpa, but it will definitely be difficult to catch people's eyes at first. Even if you send the report to the other party, it will probably be treated as spam without even reading it. deleted."
"Who else can it be sent to? Ordinary short-selling institutions? Investment funds?"
“It is generally sent to medium-sized investment institutions or well-known hedge funds in the market. These institutions usually purchase third-party research reports on a regular basis. In particular, institutions that focus on short selling will pay more attention to these reports, and these people have our interests. They are consistent and there is the possibility of coordinated operations. So once we release the report, the more people participating, the better. Free issuance will not increase the cost of investment institutions. The more issuance, the larger the base. The larger the base. There will always be people who read it. If the quality of our report is excellent, the data can withstand scrutiny, and the logic is interlocking, and it can make institutions doubt or distrust the company in question, then we can attract people to help and shout out, and the more people in the market will shout out. , the more people may add insult to injury, and our goal will be achieved." Duanmu explained calmly and emptied the last plate.
"If, as you said, some people choose to go short with us after reading the report, then I understand that you don't worry. But what if it's the opposite? We always have to prepare for the worst."
"The best-case scenario is that everyone pushes against the wall and the herd effect is added to it," Duanmu's face was shiny, "then we can really laugh in our dreams. The worst-case scenario is that no one pays attention to our report, and the market completely ignores our report. If we are indifferent, then we will be responsible for our own decisions."
Having said that, Dong Qiangqiang also knew that what Duanmu said was true: "Okay, then I will attend industry meetings and find people to understand the situation as you just suggested as soon as possible, but I can't say how long it will take to complete these two things. ,Report……"
"Just focus on writing Vivendi this time. I will write for other companies. Later I will send you a few good short-selling reports for your reference. There are still two months until July, and there will definitely be time. If you really Don’t be too stressed if it’s too late. Wall Street has a history of publishing short-selling reports in multiple batches. You can write down the unimportant issues in the first article and leave the one-shot killer move in the next article. Both swords are equally effective. , again, the key lies in data and logic.”
"There is another question." Dong Qiangqiang said seriously, "I have read news related to short selling before. Some short selling institutions will be sued by listed companies for defamation or spreading rumors. Should we also pay attention to similar legal risks in advance?"
"Well, it's true. I ignored this problem. You reminded me well. I'll go find a law firm or something when I get back." Duanmu took out a notepad from his bag and carefully wrote down this question on it.
"I have a German lawyer I've dealt with who might be able to help. I'm not sure. I'll ask around and I'll tell you if I have any news." Dong Qiangqiang was thinking of lawyer Frederick, who helped Lu Wei with the lawsuit.
The two chatted for a few more words, Dong Qiangqiang introduced Duanmu to Qin Youbo, and then walked out of the restaurant together.
Many luxury stores on the Champs Elysées are still open. The streets are bustling with traffic and people. The street lights, shop lights and car lights make everything around them look extremely unreal and beautiful. Facing the gentle night breeze, the two walked along the road towards the parking lot.
"Duanmu, do you really think we can succeed this time?" Dong Qiangqiang asked, "Is it possible that our thinking is too simple and naive? There are still things we have not considered."
"Do you want to hear the truth?" The expression on Duanmu's face seemed to be drunk but not drunk.
"Um."
"I have told you everything I know without reservation. As for whether I can succeed, I don't know. But I know one thing: it will always be difficult if you just want not to do it. If you really want to do it, you will definitely be able to do it. Find a way. If we want to pursue high returns, we will inevitably encounter high risks. The so-called wealth comes from risks. If everyone can accomplish the same thing effortlessly, then there will be no profit at all."
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