Chapter 1140: Crisis and Speculation
Domestic people enjoy the long holiday of the Labor Day Golden Week. Enterprises and institutions are on holiday. The Shanghai and Shenzhen stock markets are also closed to stop trading. Only the first Monday of the day can enjoy the Labor Day public holiday.
After three days of avalanche-like decline, the Nasdaq Index began to see-saw on the third day of May after a brief pause on weekends; The avalanche-like decline made ordinary investors understand how fragile the wave of new economic prosperity advocated by Wall Street investors is. Novel chapters are updated the fastest
During the domestic golden week, the Nasdaq index has been falling continuously, without a decent rebound Zhang Ke and many people believe that a considerable number of investors who got out earlier will turn around and join the short-selling camp, increasing the index Pressure to walk down.
The night in Jinshan in early May was as cold as water. Miss Tang stepped on the floor with her bare feet. She was wearing a slightly translucent thin Yingbu pajamas, and she hugged Zhang Ke from behind, and her chin knocked on his head, soft and tender. The slippery chin tickled his short head, staring at the emails displayed on the laptop screen, he asked, "Does Nicklissen have such a long report every day?"
The University of Hong Kong has only one day off for Labor Day, plus weekends, Widow Tang can only go back to the mainland for three days. The first night is spent in Jianhan, and the second night is naturally back to Jinshan to accompany her parents. Zhang Ke's time with Tang Gu is limited, so he naturally wants to accompany her to Jinshan for an extra day. Fortunately, Tang Xueqian's wife, Gu Jianjiang, has already recognized him as a son-in-law, and there is no need for a fake model with Tang Huan after arriving in Jinshan. Fake sleeping in separate rooms. "Fiction" novel chapters are updated the fastest
Tang Xueqian had business activities to attend at night, Zhang Huan and the others simply had dinner, then went back to their room to take a shower and rest.
While Tang Zhu was taking a shower in the bathroom, Zhang Ke sat at his desk in his pajamas and took the time to finish reading the email. This has been an email from Nick Leeson to him every day for a week.
"If there is a household every day, it will be more in the past few days. If there is a household every day, I will kill him!" Zhang Ke grabbed Miss Tang's small hand with his backhand, hugged her into his arms, and let her sit on his own. Her thighs are fine, and her palms are habitually placed on her slender and soft waist, feeling that it is so round and full of elasticity.
Tang Xie sat on Zhang Ke's lap, writhing restlessly, pressed the mouse to drag the mail down, stared at the long and boring report for a while, couldn't help but yawned, and ignored Zhang Ke's words. Holding the pair of upright pigeons on her chest dishonestly with both hands, she turned her head and put her arms around Zhang Ke's neck, "Since it can be judged that the Nasdaq has been in a downward channel for a long time, why don't you transfer more funds to sell short?" ..."
"The Nasdaq index oscillates violently. Even if we can judge that the situation will continue to deteriorate, the whole process is more complicated and dangerous than most people imagine." Zhang Ke patiently explained to Mrs. Tang that "Mitsui, Samsung, these Japanese and Korean conglomerates They all secretly control hedge funds of varying numbers and sizes,
However, the speculation of hedge funds has never been the main business of these consortiums. Once the industrial capital is labeled as a speculator, it will inevitably reduce the trust of the market and consumers in the industrial capital, and will not mobilize additional funds. The funds under the hedge fund It will not concentrate on one market to make profits. In addition to diversifying risks, it will also divert the attention of other forces. "
During the Asian financial turmoil, Kumho’s secretly established overseas hedge funds invested in Thai baht**Korean won**Indonesian rupiah and other currencies in the international foreign exchange market for short-selling transactions, and made a lot of money.
Nearly $300 million in profits were subsequently booked as corporate debt.
As the core of Kumho's industrial capital operation, Kumho Commercial has a debt scale of 2.5 billion US dollars.
The 300 million U.S. dollars profit from shorting Southeast Asian currencies was transferred to Kumho Commercial’s account, but it didn’t actually play a big role. It may only give Kumho’s executives some psychological comfort: Kumho’s actual debt scale is not the book. Instead of $2.5 billion, it was $2.2 billion. But what's the difference? With the financing capabilities of Kumho Commercial, it is possible to control the scale of debts to about 2.5 billion U.S. dollars. Even if it did not have the 300 million U.S. dollars transferred from hedge funds, Kumho Commercial can still raise this funds from other financial investment institutions.
After transferring the 300 million U.S. dollars in funds, Zhang Ke, Ye Jianbin, Sun Shangyi, Ge Mingde and others still left nearly 100 million U.S. dollars in the hedge fund account managed by Nick Lisson in their personal names. gold. This part of the funds in the hedge fund account has gained quite a lot in the overseas investment market in the past two years, with a capital gain of about 60 million US dollars. This is already a pretty good achievement, but compared with the development of Kumho's industries, it is not enough. It is also true that Kumho lacks sufficient interest in speculation in the financial market.
In any case, the size of the hedge fund managed by Nicklisson was over 300 million US dollars. The global new economic wave bubble burst, and the financial turmoil was raging again—it was precisely the moment when they came out to make waves. Communicate with Zhang Ke on the development of the situation.
The bursting of the bubble in the new economic wave is not an accidental event. Even if it is not the case of Microsoft’s counter-base judgment that becomes the fuse, there will be other things that will become the last straw to promote the bursting of the bubble; spread. There may be twists and turns, but the long-term development of the situation is clear at a glance. Even though Zhang Min has the memory of his past life, his judgment of the situation may not be more acute than those who stand at the top of the Wall Street pyramid; his judgment of the timing of short selling or rebounding of the Nasdaq may not be more accurate than Nicholson.
Nick Lissen mentioned in the email that the U.S. Supreme Court’s appeal ruling against Microsoft’s countermeasures case in mid-June is likely to become the next critical timeline.
If Microsoft's appeal is rejected by the Federal Supreme Court, the fate of Microsoft's spin-off will not be changed; however, Microsoft's anti-drug case directly caused financial tsunami-like oscillations in Nasdaq and the global new economic capital market, and its far-reaching and vicious consequences Far beyond ordinary people's expectations, the possibility of Microsoft's spin-off has been greatly reduced. In mid-June, the U.S. Federal Court is very likely to make an appeal ruling in favor of Microsoft, and it is also very likely to induce a strong Nasdaq index. rebound.
If Wall Street speculators have a similar view, the US Federal Supreme Court's appeal against Microsoft's anti-foundation case before the decline and subsequent rebound is likely to be far greater than ordinary people's expectations.
Zhang Ke can only agree with Nicklisson's judgment. The performance over the years has also proved that Nicklissen is an excellent and sensitive investor, especially for the financial crisis.
In fact, although Zhang Ke still has a deep influence on the fund, he no longer directly controls it. The hedge fund has become a private equity fund led by Nick Lisson. Zhang Ke and Yu Shangyi are also purely private investors. Participating in investment, if the funds are mobilized from the accounts of Kumho member companies, it will complicate the relationship that has been so difficult to sort out. Heading to Hong Kong, Zhang Ke sent Tang Juan to the plane and then left the airport for the construction site of Sinochip's Jinshan factory.
Tang Xueqian was busy with business and had no time to see him off, so he also made an appointment to meet Zhang Ke at the land.
The construction of Jinzhishang Factory has only been started for more than two months. It is surrounded by iron fences painted brown, and there is a decaying forest in the distance. Zhang Ke and Tang Xueqian parked their cars outside the Shuishan Forest, and walked into the Shuixiu Forest. On the other side of the Shuixiu Forest, there was a clear river, 17 or 18 meters wide, with weeds on the river beach. It is a water river that is not usually noticed. Zhang Ke didn't expect that there would be such clear running water within the Jincheng New City.
"How deeply will the financial tsunami caused by the bursting of the new economic bubble affect the entity?" Tang Xueqian is still a question related to the development of enterprises.
"It's hard to say." Zhang Ke can't directly say that the Nasdaq index is likely to fall to about a quarter of its highest point, and he doesn't want to pretend to be a prophet. Sen submitted a report to explain to Tang Xueqian that "spreading to entities is an inevitable trend... The stock market has fallen so deeply that it is bound to drag the entire new economy into the abyss. Even if the securities capital market and venture capital funds do not close their doors to Internet companies, they will remain The next frontier should also be extremely limited. Most small and medium-sized Internet companies without venture capital support will find it difficult to survive. A large number of Internet companies will go bankrupt, except for optical fiber and other communication infrastructure industries that will greatly reduce market demand. The demand for electronic components and software will also drop significantly." Tang Xueqian looked at the land opposite the forest through the beautiful straight water decayed forest, and said: "The wafer manufacturing industry in Asia has not improved in the past two years, and this time it will be affected again. Bar?
"Well," Zhang Ke nodded, and said, "If the wafer market demand will shrink significantly as I judged, the global wafer industry, especially in the generation field, except for a few wafer companies that can make profits, Most wafer companies will fall into the mud of loss." Huaxia's continuous loss is a result that can be predicted long ago. Zhang Ting sees that Samsung may delay the construction of Hongxin Electronics and seal the joint investment with Samsung Electronics The circular factory was originally a hot spot in the market hype of Haisu Technology. Samsung's delay in the construction of Hongxin Electronics should be regarded as a lot for Haisu Technology, but it is not clear when it will happen.