Rebirth of the Tech Madman

Chapter 1044 Miracle day

Xiangjiang’s volley jumped, just past this hurdle, but it is by no means pure luck.

As one of the insiders, Dong Jianhua, the chief executive of Hong Kong, broke out in a cold sweat with a lingering fear, and felt more and more that the richest man who was once his boss was too unpredictable! Unexpectedly, a seemingly unrelated decision a few days ago would have such a magical effect.

When Tang Huan arrived in Xiangjiang, the Financial Secretary Zeng Yinquan, the President of the Monetary Authority Ren Zhigang, and the Director of the Treasury Bureau Xu Shiren jointly greeted him at the airport; and he also went to the Government House, the residence of the Chief Executive of Xiangjiang, and met with Dong Jianhua in the afternoon. .

Obviously, the content of the conversation between the two people is the first to resist the attacks of international speculators on the Hong Kong financial market.

However, Tang Huan made Dong Jianhua confused about an irrelevant issue, that is, the next public holiday arrangements in Hong Kong.

It is not difficult to imagine that the return of Hong Kong is no less than a change of world, and there are too many places to be colonized.

For example, although the residences of the Chief Executive of Hong Kong and the Governor of Hong Kong are both the same place, they certainly cannot be called “Governor’s Mansion” anymore, so they changed their name to the current “Government Mansion”.

A similar situation exists in Hong Kong’s public holiday arrangements, such as the “Queen’s Birthday” celebrating the birthday of Queen Elizabeth II, commemorating the victory of the Allied Forces in World War II in 1945, and the British recapture of Hong Kong from the hands of Hong Kong. Chongguang Anniversary” also needs to be adjusted.

As a matter of fact, this job is not something that Xiangjiang Te will publish a one-size-fits-all article for granted, it can be done directly. Xiangjiang is indeed a small place, but there are many doorways.

To be precise, there are two main types of public holidays in Hong Kong, namely, the seventeen days of public holidays excluding Sundays stipulated by the “Public Holidays Ordinance”, and the twelve days of statutory holidays each year stipulated by the “Employment Ordinance”. .

Apart from the difference in the number of days, public holidays and statutory holidays also apply to different objects.

Generally speaking, banks, educational institutions, offices of public institutions, and government-government departments have holidays in accordance with the provisions of the “Public Holidays Ordinance”, and their employees can enjoy 17 days of public holidays each year.

If the units are not in the above range, they only need to take holidays according to the statutory holidays stipulated in the Employment Ordinance, and their employees only have twelve days of statutory holidays each year.

Of course, if such units are well-paid, they can also allow their employees to enjoy the 17-day holiday stipulated in the “Public Holidays Ordinance”.

Colonial holidays such as the “Birthday of the British Queen” and “Hong Kong Remembrance Day” belong to the scope of public holidays.

Needless to say, you can understand the rationale. Such holidays can be “adjusted”, but they can only be “replaced” with other names, and cannot be “cut off”. Otherwise, it will definitely lead to a boiling of public resentment.

Well, then “replace” according to this criterion, but it is still not that simple. The interest groups who can only enjoy “statutory holidays” took the opportunity to propose whether “statutory holidays” and “public holidays” should be unified.

Okay, then respond to this seemingly blameless request, but it is still not that simple. Gein is just the voice of the “labor”, and the “management” expressly opposes the increase of statutory holidays.

This can be regarded as a feature of Xiangjiang, and the chief executive of Hong Kong, Dong Jianhua, who has been restless due to the Asian financial turmoil, has to think over and over again, how can he come up with a compromise solution that both “labor” and “management” can accept. Come.

The richest man put forward a request to Dong Jianhua: Aren’t August 15 and August 16 planet 6 and Sunday? You must make at least Monday, August 17 a public holiday.

Seeing Tang Huan’s words so cherished, Dong Jianhua moved. The brains of the “Hong Kong Heavy Light Memorial Day” originally scheduled for the last “Monday” of August and the previous “Saturday” were in the name of “Victory Day in the War of Resistance Against Japan”. , The Monday, August 17 and Tuesday, August 18 are temporarily included in the scope of public holidays.

Anyway, in the midst of various disputes, this year is not to come up with a new plan for public holiday arrangements that is acceptable to all parties. Let’s try it out.

As soon as this announcement came out, no one in Xiangjiang felt that it was sudden or unexpected. They all thought it was a tentative compromise that the Chief Executive of Xiangjiang put forward to see if it was feasible.

In fact, what everyone really cares about is the combination of “statutory holidays” and “public holidays”, not which day is a “public holiday”.

Since then, on August 15, August 16, August 17, and August 18, from Saturday to Tuesday, the Hong Kong Stock Exchange will be closed for four consecutive days.

As a result, at this point in time, the Russian financial crisis broke out.

Specifically: the Russian Duma rejected the reform plan proposed by the International Monetary Fund, and then went on holiday; all senior Russian officials, including Russian President Yeltsin, also went on vacation; and then a statement was suddenly issued. come out.

The contents include: the depreciation of the ruble, the default of the national debt issued by the country, the suspension of payment to foreign creditors, and so on.

In the vernacular, it means: Anyway, Dad has no money to pay you back, so I love you!

The various European and American bank oligarchs among Russian creditors, even though they have experienced more and more extensive experience, did not expect this kind of financial dishonesty to occur, but the fighting nation’s fists are strong enough, they can only blow their beards and stare.

Furthermore, the degree of turbulence in the global stock market this time is not to mention how serious it is.

Fortunately, the Hong Kong stock market, which was closed, was buffered and avoided the shock.

After the little cousin Meng Jing reacted, she couldn’t help but said to Tang Huan in admiration: “Brother, you are really like Zhuge Liang who knows everything.”

Zhuang Menghua said anxiously: “The Hong Kong Stock Exchange will reopen soon. Even if the Hang Seng Index is hidden for a while, it still has to fall in the face of the Russian financial crisis, just like other stock markets in the world. Natural reaction, and those international speculators who sell short will certainly not let this opportunity pass.”

“It is true, but as long as it withstands this wave of attacks, international speculators will be powerless.” The richest man smiled, “I am sure that this Russian financial crisis will quickly turn into a powerful driving force for the United States to strengthen financial control. .”

…

Russia’s debt default is such a spectacular scene, I am afraid that many people may not be able to encounter it once in their entire career.

Warren Buffett’s direct response to this is: the global stock market has plummeted, and the Hong Kong stock market is no exception; international speculators will certainly take the opportunity to attack, and the Hong Kong stock market will collapse. The Bank of America suffered as a result; its own investments were also implicated.

Thinking of this, Warren Buffett, who shook his head repeatedly, quickly called the Bank of America headquarters in San Francisco.

Unexpectedly, the mouth is quite hard: Compared with the losses caused by the Russian financial crisis, our side, at least for now, is okay. If you don’t believe me, you should read the latest Yahoo news.

Warren Buffett was choked and almost fell to the Coke on the table, but he still settled down and ordered his men to collect more and more brilliant Internet media reports.

As a top hunter in the ecosystem, Warren Buffett doesn’t care much about the so-called latest reports of portals that do everything in order to compete for traffic.

However, after seeing the printed Yahoo Finance news, Warren Buffett took a breath.

…

Deutsche Shao Group failed to invest in Russia and the loss could reach 1.4 billion U.S. dollars.

…

Long-term capital management companies failed to invest in Russia, with losses estimated at least 1.85 billion U.S. dollars.

…

Warren Buffett can no longer read calmly, because Gein’s affiliation with Long-Term Capital Management is deeper than his affiliation with Bank of America.

So Warren Buffett quickly picked up the phone again and called John Meriwether, the founder of Long-Term Capital Management, but the line was busy; after changing a number and redialing, it was still busy!

Warren Buffett, who had to put down the phone temporarily, cried to himself: This is trouble!

…

Among all the tragic people who have been embarrassed by Russia, the one that really shook Wall Street is the non-long-term capital management company, and even the Federal Reserve has held special meetings for it to study solutions to rescue it.

There is no other reason. The key point is that long-term capital management companies have dealings with almost all Wall Street bigwigs, and it is not an exaggeration to say that they have kidnapped the entire Wall Street.

In other words, if the long-term capital management company collapses on its own accord, it will bring a disaster to the American financial community.

This is no exaggeration. The life and death of long-term capital management companies is so touching.

The founder of this fund, John Merriweather, was originally the vice chairman and head of the bond trading department of Salomon Brothers. He recruited a group of mathematical geniuses from Harvard Business School and MIT, as well as financial models and computer technology. Together, they make a lot of money for Salomon Brothers every year.

But in 1991 when John Meriwether was forty-four years old, a trader under John Meriwether had an accident because of fraud, and he was responsible for it, which led to the ruin of his company in Salomon Brothers. There was room for promotion, so I resigned altogether and did it by myself, and the long-term capital management company was born.

John Meriwether’s performance at Salomon Brothers was so successful that the long-term capital management company could only be described as ox-breaking from the beginning.

For example, for a newly established fund, the amount of financing in the initial stage is often around tens of millions of dollars, but the long-term capital management company suddenly raised more than one billion dollars.

More importantly, John Merriwether’s men are more sturdy than when he was at Salomon Brothers. In addition to those old men who followed, he also invited some heroes to join.

For example, two financial masters: Myron Scholes and Robert Merton, who won the 1997 Nobel Prize in Economics for their “option pricing formula”.

For another example, the vice chairman of the Federal Reserve, David Molins, who is ranked only behind the chairman of the Federal Reserve Alan Greenspan, was also drawn in.

To use a sentence from Business Weekly at the time, Long-Term Capital Management Company is a “dream team” with a strong lineup and momentum. I don’t know how many streets after the richest man who used supercomputers combined with financial models to hype!

The fact is also true: In 1994, the first year the long-term capital management company was established, the annualized rate of return reached 28%; in 1995, the annualized rate of return was as high as 59%; in 1996, the annualized rate of return was 57%.

This year, the long-term capital management company with only more than 100 employees made a total of 2.1 billion US dollars, which is more than McDonald’s, which has sold countless hamburgers all over the world.

By 1997, despite the Asian financial turmoil, the annualized rate of return of long-term capital management companies still reached 25%.

The American financial elite is like a cloud, of course there are no lack of sane people, so some experts asked, “Where are your risks?”

As a result, the researcher of the “option pricing formula”, Myron Scholes himself scratched his head, “No one sees where the risk is going.”

Ever since, long-term capital management companies have used their own bull-breaking to encircle countless business owners, celebrities, private universities, etc. in the United States.

Ever since, long-term capital management companies that are too superstitious about mathematical models and ignore the small probability of human influence factors, because the United States, which often shouts “non-intervention” after the Russian financial crisis, can’t help but take action. .

Many people may not be able to understand why long-term capital management companies have gathered so many elites, so why have they been pitted?

Perhaps one sentence to describe can best explain the problem, that is: Geniuses are not incapable of making mistakes, but they are different from ordinary people, they are only good at making fatal mistakes.

In addition, the long-term capital management company also suffered another fatal blow to tear off all the gods, that is, it was exposed and evaded at least 100 million US dollars in taxes.

In order to avoid the collapse of a long-term capital management company with a transaction volume of trillions of dollars, the spread of Wall Street has also been dragged into a mess. On Sunday, August 23, 1998, the Fed convened the heads of major financial institutions in an unprecedented way, at the Fed in New York. Meeting rooms on the tenth floor of the building, negotiate and deal with matters together.

Mobil Bank, Bear Stearns, Chase Manhattan, Goldman Sachs, j.p. Morgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, Salomon Brothers…

All Wall Street giants gathered together, so that comfortable leather chairs are not enough to sit on, and many giants can only condescend with folding chairs.

While these prominent figures were discussing how to save the long-term capital management company to prevent everyone from being involved in the disaster, Warren Buffett received a call from Tang Huan from Xiangjiang.

“Next week, I will push the Hang Seng Index back to more than 10,000 points on Friday the 28th, before the delivery date of the Hong Kong Futures Index. If you have a short-selling operation, stop your losses as soon as possible.”

With a trembling hand, Warren Buffett, who almost threw the phone on the ground, replied with a wry smile: “Thanks for reminding.”

…

On Friday, August 28, 1998, the Hang Seng Index rose to 12,000 points in March this year against the dying counterattack of international speculators, which Hong Kong people called the “Miracle Day”.

The short-sellers who had planned to suppress the Hang Seng Index to 4000 points suddenly flowed in blood, only to end dismal!