Chapter 1096 New Year's Eve
Simon's "step by step" approach to the new technology industry is to sit firmly on the Diaoyutai.
In 1996, the Westeros system had already completed the response measures to the situation after the burst of the new technology bubble in advance. At this time, each core new technology company held a considerable cash reserve and no longer participated in it. Excessive speculation.
For Julian Robertson, the head of the Tiger Fund, these days, it has been like sitting on pins and needles.
As a firm bear on the new technology industry, Robertson initially also believed that the Nasdaq index would turn around in 12 last year, and it would not last until January at the latest. Therefore, even without Richard Mellon Skeff's On the sidelines, he actually intends to suppress all the wealth of the Tiger Fund, just to give it a shot.
However, December 1996 passed, January 1997 passed, and now, the time has entered February 1997.
Compared with the 5426 points just after the U.S. election on November 6 last year, the Nasdaq not only did not turn around, but on the past Friday, despite the pressure of their short capital, the Nasdaq still reached a new high. Reached a high of 6437 points.
In three months, the cumulative increase has reached 18%.
Tiger Fund started to build positions after the election last year, and it was completely completed in late December. With a total principal of about 12 billion US dollars and an average leverage of three to five times, the size of various short contracts held is close to 50 billion US dollars. On the past Friday, all the short book losses totaled $7.3 billion, a loss of more than 60%.
Lost more than half.
Due to the excessive size of the position, in order to ensure a sufficient margin ratio, Robertson has had to close some positions.
Now, the most important question for the hedge fund boss who has risen with Soros in the past decade is whether to completely liquidate his positions and leave the market.
Or, a last-ditch effort?
Julian Robertson firmly believes that no matter how flexible the economic bubble is, it cannot escape the laws of the economy. Anyone with a discerning eye understands that the bubble in the Nasdaq is very serious at this time and may burst at any time, even if the vested interests headed by the Westeros system use the power of the entire country. In order to continue the life of the Nasdaq, the result cannot be changed after all.
Maybe tomorrow!
New York.
Although it was Sunday, for most of the day, Julian Robertson was still working in the Tiger Fund's headquarters in the lower city at more than three o'clock in the afternoon, mainly to appease investors from all sides.
It was a sunny day at the end of winter.
Still very cold.
At four o'clock, after leaving his office, Robertson drove to the Upper East Side and met an old friend and another hedge fund boss, George Soros, in a coffee shop.
The two greeted and sat down, waiting for the waiter to serve coffee and leave, George Soros looked at Robertson, who was looking at the sun on the building outside the window, and asked, "So, how are you doing?"
Julian Robertson came back to his senses, took a sip of the hot coffee, paused, and said, "I plan to wait another month."
Soros didn't rashly inquire about how much the other party lost. He wanted to be sure about halfway through it, and he was silent for a moment before saying: "Or, it's not bad for you to clear your position now. Bet on Southeast Asia with me. If everything goes well, you should be able to recover most of it this year. loss."
Julian Robertson shook his head and smiled bitterly: "George, you should know that I am liquidating my position now, and investors will definitely ask for liquidation. I have no chance to turn to Southeast Asia."
Soros could only be speechless again.
The fact that Robertson said that hedge funds are high-risk investments is known to everyone, but if they lose too much, investors will still ask for their money to be withdrawn.
It can be said that unless there is a miracle in the future, the only way for Tiger Fund to close is to go.
Soros, who has been quietly deploying in Southeast Asia since last year, has not participated in betting on technology stocks, but he has always been paying attention to the trend of the Nasdaq market. As of the close of 6437 the day before yesterday, in his opinion, it has completely reached An outrageous degree, you must know that at the beginning of this decade, in 1990, the Nasdaq was only around 300 points. In just seven years, it has skyrocketed 20 times. No normal stock market in any country can reach this level.
However, obviously abnormal, everything is still happening.
No one can even see the end.
Soros has also recently become more and more convinced that Igret has a good chance of becoming the first company in the history of the US stock market to reach a market value of $1 trillion. After all, compared to many other small technology companies in the second and third tiers, Igreit is indeed very successful, even at a market value of $773.1 billion at Friday's close, at a price-to-earnings ratio of 221 times.
Well, 221 times does not seem to be suitable to use the number "cai", but if you compare it with many companies on the Nasdaq market whose price-earnings ratios have exceeded 500 times or even 1,000 times, 221 times is already a fairly healthy indicator. Eventually reaching a market value of 1 trillion, this figure is only about 280 times.
Igreit can still maintain a strong momentum of annual growth rate of more than 60% after its annual revenue exceeds 30 billion US dollars, and its price-earnings ratio of 280 times is completely no problem.
It was just a weekend gathering of two old friends, and Julian Robertson didn't mean to ask Soros for help. Soros made a suggestion of his own. Robertson didn't accept it, so he didn't say more.
The topic then became casual.
"You said, what is that kid doing now?"
See Julian Robertson ask about this
, Soros showed a little gossip smile and said: "He must be in New York now, maybe you have heard that he made the girl in Lauder's family pregnant with a child. Although he has no plans to marry, he is still responsible. , come to visit every week."
Julian Robertson followed with a smile: "It seems that you are not well-informed. In fact, more than one woman is pregnant."
Soros just smiled.
Of course you know.
It's just that, in Soros' view, the child conceived by the girl in Lauder's family is the most important. Because, after that child is born, it will have another identity, Jewish.
He was also at a party at the time.
Everyone still does not know the ethnicity of Simon Westeros himself, but now the Westeros family has a Jewish child, and, according to recent news, it is still a boy, and the young man quite recognizes the heir looks like, then, many things will be very beneficial to the Jews in the future.
Julian Robertson noticed Soros' clear smile, and probably understood something. He was not Jewish, and he didn't make any rash comments about it.
Racial issues, in Western society, have never been avoided.
Taking a sip of coffee again, Julian Robertson finally felt a little emotional, even slightly dissatisfied: "George, you said, how did Simon do it that time in 1987?"
"Who knows," Soros could only shake his head when he heard Robertson talk about his fiasco: "At that time... Frankly speaking, I believed more that he was a psychic, otherwise it would be impossible to make such an accurate prediction. Sentencing."
If there was no big fortune in the stock market crash in 1987, a young man would probably still be just a Hollywood director at this time, even the top one.
Um.
Not right either.
Even if it didn't happen in 1987, if the other party bet on the Internet in advance, at least they would be able to create the Igret at this time.
No, that doesn't seem right either.
The birth of Igreit was completed with the cooperation of the entire industry chain, such as America Online, Cisco, and even personal computers in the hardware field and Internet peripheral products from Tincobel. Without sufficient Internet infrastructure support, it is impossible for Igreit to develop to this point.
And Cisco and America Online, etc., need capital, and it is a large amount of financial support.
These are not so easy for a director to do. It's no exaggeration because someone has driven the entire Internet industry to this day. If there is no other party, perhaps the Internet at this time is still in the groping stage.
So, after all, it's the one time in '87, let someone have enough capital to do it.
Thinking of this, Soros shook his head slightly and said again: "In any case, Simon has completely jumped out of our level now, let's just say that this time, the past few days, how big is the disparity in strength, I think you should have some experience. , this is just Simon doing things within the rules, if he breaks the rules, the Westeros system now has this kind of strength, then you must be in no mood to drink coffee with me now."
Julian Robertson wanted to refute, but after a pause, he could only acquiesce.
Do not admit it.
Moreover, what Julian Robertson had to admire more was the young man's vision for the layout.
There may be many people who can suddenly become rich in just ten years and become the super tycoon at the top of the world's richest list. However, under normal circumstances, people who suddenly enter the top of the pyramid often lack enough wisdom to make other arrangements. Own business empire to provide protection.
Because human time and energy are limited.
In just a few decades, it is very rare to be able to do one thing to the extreme.
Simon Westeros has enough wisdom to do many things to the extreme at the same time. This is not only smart to solve. The smart people in this world never mention it, but often the smarter people are, the less worldly they are. Know how to move around, because only time can provide these wisdoms in dealing with people and things.
The question is, Simon Westeros, where did you get so much time?
All these questions, unless Simon Westeros himself is willing to reveal it, will probably always remain a mystery.
Manhattan, Upper West Side.
When the two old men were drinking coffee together, Simon was personally accompanying the two women to prepare dinner together.
It is to experience a kind of home feeling.
In China, the Spring Festival is coming soon. Chen Qing never thought of going back. Because of her pregnancy, Lin Su, who inevitably has all kinds of concerns, did not return to China to celebrate the New Year with her family this time.
Simon didn't feel anything at first, but he didn't understand until he noticed Lin Su's depressed mood.
It doesn't matter.
So make up for it as much as possible.
However, after spending an afternoon in person, and even driving Chen Qing away this evening, he and Lin Su enjoyed the two-person world alone. The next morning, when he stumbled across the tears in the corner of the woman's eyes, Simon realized that the matter was still the same. Quite serious.
After a little bit of heart-to-heart, I generally understand.
Pregnant women, after all, have to be sensitive.
Although Lin Su looks shrewd and capable on weekdays, especially in front of Chen Qing, he is finally unwilling to admit defeat. Although he is always bullied, his personality is definitely not weak.
It's just that after pregnancy, as a bone
After all, women who carry certain traditional Chinese concepts will inevitably worry about gains and losses.
Even if Simon promises that future children can identify the surname 'Westeros'.
However, for a woman without a proper marriage and a real status, it is difficult for a woman to have a complete sense of security.
Simon Ben interrupted his return to Los Angeles on Monday. Seeing this, he discussed with the two Jennys privately, and then made a decision to bring Lin Su back to China to celebrate the New Year together.
Do something by the way.
This day is February 3, Monday. The Chinese lunar calendar is the 26th day of the twelfth lunar month, and there are only three days before the new year.
Knowing that Simon was going to take him back to China to celebrate the Spring Festival together, Lin Su felt inappropriate. She knows very well that men are far less leisurely than they think, and if you go to China for the New Year, at least, um, you probably won't be able to come back in a week, and just last week, there was a long-short on the Nasdaq market. During the confrontation, the media on the weekend was still full of heated discussions. What if he couldn't deal with what happened during the time he was away?
Simon didn't talk too much with Lin Su about this.
Now that you are where you are now, if you don't have the freedom to leave as soon as you say it, what's the point of everything?
So we set off directly that day.
Um.
Chen Qing was left behind.
After all, some things this time are not suitable for Chen Qing to mix together.
Chen Qing resented this on the surface, but she had more expectations in her heart. The man had promised that when she was 30 years old, she could also have a child. She is 28 years old this year, and the time is not far.
At that time, men will definitely be level with a bowl of water.
Thinking of this, Chen Qing was even a little apprehensive. She wondered if her father would take a chicken feather blanket and beat her and his pair of unscrupulous men and women together.
This, should not be.
Because of the fate that was approved for a fortune-telling when she was a child and her temperament that was gradually fulfilled when she grew up, her parents were only worried that she would learn badly and cause harm to others. , the brain is splashing like that, the purpose is just to keep her from going astray.
In this way, her parents' expectations for her must have reached the lowest level. At that time, I will bring back a 'Simon Westeros' and say that this is my man. Although, she must be a little five, six or seven, but it is enough to meet the parents' expectations.