America's Road to Wealth

This time I returned to New York from my hometown in Texas.

To be honest, Abel's mood was not very beautiful.

Lian Yisha's Christmas Eve show.

According to statistics from AGB Nielsen, the viewership rating is as high as 32 million.

It also didn't make him feel much better.

The ratings of 32 million viewers are indeed very high, comparable to the ratings of the 1993 NBA Finals.

This ratings is also the highest record in the NBA at this time.

The first Isa show was able to achieve this level.

It can be said without mercy that Elizabeth's back garden has become famous all over the United States and even the world.

Such a huge advertising effect.

This also allowed Elizabeth Gardens, which opened on Christmas Day the next day, to have its 100 stores across the United States full every day.

In just three days, the total sales of 100 Esa stores in the United States have exceeded 45 million US dollars!

Average daily sales per store are US$150,000.

The highest daily sales per store is US$280,000, and the lowest daily sales per store is US$60,000.

These figures are all top-notch among peers.

Three days of sales is equivalent to more than four months of sales in more than 100 Victoria's Secret stores at this time.

This result is already very gratifying, if it can be maintained.

It can be said that it is completely worthy of the energy and money Abel spent in this area.

But Abel was not very happy about this.

No matter it is Isha Company or Isha Show, it is just a whim of fun for him.

He was in a bad mood.

This made his original plan of staying silent for a month or two overturned.

He wanted to see rivers of blood.

The fourth to last day of 2000.

That is December 28th.

The Smith Building, where Smith Capital is located.

Once again enter the whole building safe house state.

The Wall Street giants who have been keeping an eye on Smith Capital.

Everyone got the news immediately.

Goldman Sachs, the market surveillance department also immediately notified their CEO.

At that time, Paulson was in a meeting with several company executives.

The meeting was to discuss some investment strategies and plans for next year and beyond.

After hearing the news, the CEO fell into deep thought.

As far as Paulson knows, Smith Capital has been established for more than half a year.

In the market, Smith Capital has made many investments and actions.

But before that, Smith Capital had only conducted a company-wide safe house state.

Paulson knew that during that safe house situation that lasted for several days.

Smith Capital has made billions of dollars in profits in the international foreign exchange market.

That's almost more than Goldman Sachs' profits for the entire year this year.

That time Smith Capital’s company-wide safe house status.

It's been just over a month since now.

This time Smith Capital has entered this state again.

Think again of the news yesterday that Abel Smith had just returned from Texas.

Paulson had to wonder - could this be a capital hunting operation by Abel?

Or...get support from Texas?

Otherwise, why would Smith Capital become busy as soon as he came back?

Paulson, who had connections with people in Texas, had to think so.

Paulson asked the head of market surveillance a question.

"I asked you to track Smith Capital's stocks in the stock market. What's going on with them?"

The person in charge immediately replied:

"Most of the 131 stocks are rising. The one that has risen the fastest has risen 76% since Smith Capital purchased it."

Stocks are relatively public investment products.

Plus Wall Street giants can get first-hand market intelligence.

Unless you carry out complex diversified holdings when investing, using hundreds or thousands of accounts to hold them.

Otherwise, a single company holds shares. It is difficult to hide from the detection of giants such as Goldman Sachs.

Smith Capital’s investment in the US stock market has no intention of hiding it from others.

Anyone who cares can find it out.

Be more thoughtful and send more elite analysts to keep an eye on it.

In this way, you want to know the daily rise and fall of these stocks of Smith Capital.

It's not too difficult.

"Then according to your calculations." Paulson said:

“How much money have Smith Capital made or lost from these stocks so far?”

The person in charge already had the exact figures, and he immediately replied:

"As of today's opening, our estimated figure is that Smith Capital's account value in these 131 stocks is approximately US$15.6 billion to US$16 billion."

Upon hearing this number, Paulson's eyebrows wrinkled on his bare face.

Paulson remembers Smith Capital’s investment in U.S. stocks.

Goldman Sachs analysts have analyzed it before.

Smith Capital account value.

Probably around 13.5 billion to 14.5 billion US dollars.

According to this valuation.

Calculated at a minimum of US$13.5 billion, Smith Capital’s investment in US stocks has now made more than US$2 billion in profit.

Calculated based on US$14.5 billion, Smith Capital’s profit in the US stock market is at least US$1.5 billion.

How many days has it been?

In less than half a month, you made so much money?

After learning this data, Paulson was speechless for a long time.

Finally, he ordered the Market Supervision Department, "Continue to monitor. See what financial products they invest in this state. Once you get the exact information! Remember to notify me immediately!"

"Remember, you need to be notified anytime and anywhere! Twenty-four hours a day, no matter what time, do you understand?"

Being on call 24 hours a day is all too common in the financial field.

Even in Paulson's high position, it is inevitable.

Who said that the global financial market is always changing, and the market is trading around the clock?

When Goldman Sachs received the news.

Naturally, other Wall Street giants did not let go.

Giants such as Merrill Lynch and Morgan Stanley also received intelligence from Smith Capital and entered the safe house state again.

Unlike Goldman Sachs, which seems a little cautious because of Paulson.

Merrill Lynch and Lehman Brothers, when they got the news.

Stanley O'Neal, and Wall Street bulldog Richard Fuld.

These two Wall Street oligarchs are much more radical and excited.

Stanley O'Neill rushed to the company immediately.

The black president convened relevant personnel from the company’s investment department.

So does Richard Fuld.

And it’s not just these two companies.

There are many giants on Wall Street who are eyeing Abel.

They all had different but somewhat similar reactions.

After that investment cocktail party.

Abel made the move to establish his own commercial bank.

And his approach is undoubtedly a showdown on Wall Street to some extent.

The result of the showdown was that the entire Wall Street became wary of him.

Casting a coveting gaze on him.

Also last month, he deliberately caused David Mellon to make several mistakes in his investment operations.

has been greatly enhanced.

As if after that day.

The aura of The Wolf of Wall Street is gone.

Everyone is no longer afraid of him.

Everyone wants to see if they can tear off a piece of flesh from Smith, just like Goldman Sachs, Lehman or Merrill Lynch.

Even though many people actually know it.

Those several failed operations of Smith Capital were probably not done by Abel.

But in the eyes of these people, after those few times.

It's as if Abel Smith's unbroken golden body in the capital market has cracks.

Everyone started to test, everyone started to monitor.

Everyone wants to see if Smith Capital can snipe the opponent in its next move.

About three hours later, at noon on December 28.

Most of the giants on Wall Street have already found out.

The investment direction of Smith Capital entering a safe house state.

It’s foreign exchange!

Abel Smith plays the most, makes the most profits, and is also the riskiest financial variety.

Everyone discovered that this time Smith Capital invested a large amount of funds in the currency exchange rate USD/JPY.

This time, Smith Capital moved most of its funds through Pacific Commercial Bank.

Another part of the funds went through Wells Fargo and Citibank.

I am no longer as close to those investment banks as I used to be.

This made those Wall Street investment banks only know that Smith Capital had a large amount of funds this time, with a principal of at least one billion US dollars.

However, the exact amount of funds and the exact flow of funds cannot be captured.

Smith Capital has its own capital turnover center.

Its investment status and capital flow cannot be completely monitored.

Wall Street giants can only make a rough judgment based on the general flow of funds.

Smith Building.

In the trading hall on the third floor.

At noon, Abel was looking at the USD/JPY currency exchange rate on the screen wall.

It is indeed as shown by some of the intelligence probed by those Wall Street giants.

This time, Smith Capital is focusing on the currency exchange rate USD/JPY.

To be precise, Smith Capital is building a short position on USD/JPY.

USD/JPY is now at 107.700.

Since 1998, the USD/JPY bull market has been going on for almost three years.

The USD/JPY bull market in the second half of 2000 reached around 107.

At this juncture, international speculators and domestic investors are somewhat divided in their attitudes.

Half of the people insist that this time the yen may be able to reach the exchange rate of 100 or even more than 90 in 1994 and 1995.

This group of people make similar judgments to those in Neon Cabinet’s home country, as well as those who are relatively optimistic about the economic situation of Neon.

The other half believes that the yen can no longer strengthen.

Because if it continues to strengthen, it will greatly suppress the economy of export-oriented countries like Neon.

In addition, many long-term bulls have begun to close their positions in the market.

The support for USD/JPY's rise is also getting smaller and smaller.

Once large-scale long positions are liquidated, USD/JPY will also plummet at the intersection of the new year and the old year.

But these are actually not Abel’s analyses.

The reason for him to make this judgment is simple.

His talent told him that [the three-year USD/JPY bull market will usher in a huge correction]

For this reason, Smith Capital has established 50,000 short positions throughout the morning.

The average opening position is 107.500.

This leaves Smith Capital still at a loss.

For a short position of 10 USD/JPY positions, one point fluctuation is US$500,000, and the current floating loss is US$10 million.

This ten million US dollars is just a drop of money to Abel, and Abel doesn't care about it at all.

But the traders at Smith Capital and David Mellon who were responsible for the operation were already a little worried.

Because before this, the capital investment was led by Abel.

From beginning to end, there were almost no floating losses.

Just keep winning, winning, winning.

This is still on Smith Capital's account.

When Abel's request was made, a floating loss occurred for the first time.

There was a time when slight worries appeared in everyone's mind.

Abel asked Smith Capital to build a position and continue shorting.

However, he asked Smith Capital not to build positions too quickly.

This is because even with his current financial knowledge.

Also known in this case.

If you open too many positions too quickly and short hundreds of thousands of USD/JPY short orders at one time.

It is estimated that the market cannot digest it and it is easy to cause the dollar/yen to plummet.

Abel didn't want to do this. His talent allowed him to get as much food as possible in the highest area.

That keeps profits higher.

It is now one o'clock in the afternoon.

When Abel saw that USD/JPY had once again reached 107.500, he immediately shorted 10,000 USD/JPY lots!

This approach immediately pushed USD/JPY down 5 points before being supported.

Then USD/JPY started to fluctuate.

After 5 minutes, he rushed up again.

Abel immediately shorted 10,000 lots again, suppressing it again.

It went back and forth like this many times, and USD/JPY could no longer reach the 107.500 level.

It is currently oscillating above 107.400, but the support at 107.400 is still very strong.

Seeing the trend of USD/JPY at this moment is in line with the judgment of my "talent".

This made Abel sneer - this time let you see what the Big Short on Wall Street is!

From morning to now.

Smith Capital has shorted a total of 50,000 USD/JPY short orders at 107.500.

Smith Capital currently holds a total of 100,000 USD/JPY short positions.

Floating losses have reached more than 30 million US dollars.

A standard position of 100,000 lots would cost US$10 billion without leverage.

Smith Capital currently has only about US$3 billion in free funds.

Without leverage, it is impossible to leverage such a large amount of funds.

Therefore, Smith Capital also used leverage for this investment.

It's just because I can't trust the investment banks on Wall Street.

This time, there are only three banks remaining as guarantors for Smith Capital.

They are Pacific Bank of Commerce, Wells Fargo and Citibank.

Fifty percent of the funds came from American Pacific Commercial Corporation, and the other 50% were handled by Citigroup and Wells Fargo.

Although Citibank and Wells Fargo are also part of Wall Street.

But no matter what, the main business of Citibank and Wells Fargo is still on the commercial bank side.

This is far more credible than other investment banks.

Coupled with their strong capital, they can support Smith Capital's capital needs.

The two banks each gave Smith Capital 8 times leverage.

Abel's margin at both banks was $1 billion.

In other words, he can leverage a total of US$16 billion in funds in these two banks.

As for Pacific Commercial Bank, its leverage is extremely exaggerated.

Abel's margin at Pacific Commercial Bank is still one billion US dollars.

But Pacific Commercial Bank gave him 25 times leverage

For the one billion dollars he had at Pacific Bank of Commerce, he could leverage $25 billion.

Such a large amount of funds, such an exaggerated leverage ratio.

This is almost impossible at any other bank.

But who is called Pacific Commercial Bank? It is his personal wholly-owned bank.

As long as he, the boss, is willing to take risks, as long as Pacific Commercial Bank has enough funds.

He even used 100 million US dollars to leverage so much funds.

In terms of procedures and laws, it makes perfect sense.

This is the advantage of having your own bank and sufficient funds.

Of course.

There is a price to pay for this.

One is that interest and commissions must be paid, even according to the minimum standards required by the Federal Reserve.

Otherwise, it is illegal and will be punished by the regulatory authorities.

another.

It's this kind of high leverage, or internal leverage.

If exposed, it may cause concern to the customers of Pacific Commercial Bank.

This triggered a possible run on Pacific Commercial Bank.

That is to say, no matter the cost.

Abel's current "ammunition amount" is 80+80+250, a total of 41 billion US dollars.

At present, it costs about 10 billion US dollars to open 100,000 short positions.

He also has $31 billion in reserves.

By two o'clock in the afternoon.

USD/JPY is falling again.

Abel seized the opportunity and shorted 5,000 USD/JPY again.

Suddenly USD/JPY fell two points again, and then was supported again at 107.400.

Abel immediately continued to increase his short position by 5,000 lots, and USD/JPY was unable to hold on to the 107.400 position.

After more than ten minutes, USD/JPY slipped 10 points and reached 107.300.

The data milestone given in "Talent" has arrived.

Abel suddenly felt happy and continued to short USD/JPY.

At this moment, Merrill Lynch's trading department is in a unique office.

Stanley O'Neill watches USD/JPY fall again.

He looked back at Charlie Scharf, and the CFO replied softly:

"It's basically certain. Smith Capital is shorting USD/JPY on a large scale."

"Does he think the yen bull market is over?" Stanley O'Neill asked.

Charlie Scharf shrugged: "Who knows? But he dared to short such a large amount, so he probably thought so."

Stanley nodded and thought for a few minutes.

Suddenly the black president asked: "How is the profit of our long account?"

The USD/JPY bull market has been going on for almost three years. At the beginning, the bulls and shorts were fighting fiercely, and they were in a relatively balanced state.

But starting two years ago, the short-selling power was insufficient, and a short-selling massacre occurred.

Since then, many bulls have started to go long-term.

This relatively stable long-term strategy has been entered by companies such as Merrill Lynch and Goldman Sachs.

"About fifty thousand more," Charlie Scharf replied.

After hearing this data, Stanley decisively ordered Merrill Lynch's trading department.

At the position of 107.300, I decisively placed a long order of 10,000 USD/JPY.

The black president of Merrill Lynch continues to be bullish on USD/JPY.

Why did Stanley O'Neal gradually replace the company's original CEO in the past two years?

Except that he is a good person and can please the board of directors.

Also because starting three years ago, Stanley O'Neill was trading on the USD/JPY currency pair.

It made a lot of profits for Merrill Lynch.

In the past two years, Stanley O'Neill has been long USD/JPY on dips, and his combined profits have reached US$2 billion, which is really great.

This amazing profit, coupled with his great skills in office intrigue.

Only then did Stanley O'Neal gradually remove himself from the original CEO.

Otherwise, just rely on office skills.

You may be able to survive in the four major investment banks, but you will never be able to occupy a high position.

Investment banking, investment banking.

In the end, if you want to get to the top, you still need to rely on your skills in the investment field.

Now Stanley O'Neill is still bullish on USD/JPY.

Although the recent gains in USD/JPY have begun to slowly taper off.

But he believes that USD/JPY still has a long way to go.

So Stanley O'Neal is in no hurry.

Stanley O'Neill's long USD/JPY order of 10,000 lots, plus other long orders.

There were about 30,000 lots, which immediately wiped out the short orders in the market.

This behavior caused USD/JPY to rush up again, rising from 107.300 to 107.390.

On the other side of Wall Street.

Lehman Brothers Trading Department.

Richard Fuld had just made up his mind and wanted to let the people in the trading department.

I bought 20,000 lots of USD/JPY, but I didn’t expect that someone would beat me to it.

As said before.

USD/JPY has been bullish for two years.

There are a large number of investors and institutions around the world who hold a large number of long USD/JPY orders.

Merrill Lynch did the same, Lehman Brothers did the same.

In the past two years, the neon economy has recovered and the yen has strengthened.

The Japanese yen in the neon cabinet surpassed the British pound last year and became the second most held world-class currency in the world.

Needless to say, the first one is the U.S. dollar.

The market is bullish, coupled with a large number of long positions.

In the past two years, no matter which short seller enters the market.

They are often forced to liquidate their positions one by one due to Neon's strong economy and the combination of bulls.

Investment banks like Lehman and Merrill Lynch.

In the past two years, I have made very good income from the long position of USD/JPY.

Lehman Brothers now holds more long USD/JPY positions than Merrill Lynch.

Merrill Lynch only has 50,000 or 60,000 lots on hand.

The Wall Street Bulldog, who has always been very courageous, now holds more than 100,000 long USD/JPY orders.

But just now it was confirmed that Smith Capital is under this general trend.

After actually defying the general trend and starting to short USD/JPY in large quantities.

Richard Fuld was immediately overjoyed and thought this was a good opportunity to cut the flesh and blood of Smith Capital.

As soon as a short order appeared on the market, he wanted to buy it.

It's just that someone moved faster and cleared the list before Lehman Brothers took action.

"Madefak, has anyone seen it?"

Richard Fuld frowned and thought.

Although USD/JPY has risen recently, the magnitude has become smaller.

But he is still in a strong state as always.

In the past two years, there have been many short-selling massacres.

Richard Fuld believes that this situation should be at least half a year away.

He believes that prices will continue to rise in the next six months.

In addition, Richard Fuld felt that he had the capital to do so.

Lehman Brothers held more than 100,000 long positions, with a total profit of 200 points, totaling US$1.2 billion.

Such a high floating profit makes Richard Fuld full of confidence.

Add to this the recent over-week trend in USD/JPY.

It was completely in line with Richard Fuld's previous inner judgment, which made Richard Fuld feel a little happy.

Richard Fuld made the same judgment as Stanley O'Neill.

He intends to continue to promote the upward trend of USD/JPY and start to continue to build positions!

He believed that doing so was a good opportunity to take advantage of the general trend and cut off a large piece of flesh from Abel Smith who could not see the general trend!

Now that everyone has made it clear.

You can't be a lackey, you can only be an opponent or a friend.

Then they, the seniors on Wall Street, won’t be polite!

Thinking of this, Richard Fuld, who was more courageous, immediately made an extra 20,000 hands and entered.

USD/JPY returns to the 107.500 band again.