America's Road to Wealth

2001.

February 20th.

Smith Capital, Smith Building.

First floor.

Today, it was temporarily arranged as a conference room.

The area of ​​about 700 square meters is filled with many seats.

Most of the investors of Smith Capital’s first private placement are here today.

Those who really didn’t have time and couldn’t come over were also sent representatives.

Ted Lerner and Barron Hilton, two wealthy New Yorkers who were free, came together.

At the last Smith Capital investment reception.

The two people have been together for a longer time, and Barron Hilton's sense of Tedlena has improved a lot.

Barron Hilton's astute discovery.

Ted Lena's exaggerated look is probably just an act!

In addition to Ikana and Paris, their relationship has become better recently.

This made the relationship between the two New York businessmen also very good.

The two of them came together today.

When getting off the car.

Ted Lerner looked a little impatient and said to Barron Hilton:

"Hey, Barron. What do you think our profit rate can be today?"

Barron Hilton replied:

"Then I don't know. But it was so high last time, so it should definitely be higher this time, right?"

"Okay." Tedlena said with a smile:

"In the second and third phases, I didn't have enough funds at that time. I only invested US$10 million."

"I heard that a new three-phase private placement has been opened this time. If it is still a 180-day cycle. Then even if I mortgage Ted Lena, I will put down all my positions!"

"Haha~" Barron Hilton said with a smile:

"I guess many people think so today! By the way, let me tell you, I actually think so too."

Ted Lerner smiled slightly and entered the Smith Capital Building with Barron Hilton.

In the lobby on the first floor, seats are arranged in a circle.

There is a high platform in the middle.

The seats did not have names, and the staff of Smith Capital also smiled and said that you can sit on them wherever you want.

True to Ted Lerner's character, he originally wanted to sit in the front.

But in the end, Barron Hilton pulled him to a more remote place.

"Our investment is too little. In this period, if you sit in the front, it may become a joke." Barron Hilton said.

Tedlena thought it made sense, so the two of them sat in a relatively remote area in the back.

Both of them came earlier, so many more people came one after another.

The meeting started at half past nine, and it was almost full by nine o'clock.

"It's so lively," Tedlena whispered to Barron Hilton:

"The occasion is just not classy enough. Smith Capital's building is too small!"

Barron Hilton nodded.

Although the location of this Smith Capital building is very good, it even has a dedicated parking lot.

But it used to be a medium-sized supermarket, and it was located in Queens, close to the East River in New York.

The overall area is actually not very large.

For ordinary small and medium-sized companies, they can have such an office here.

It can be said that it is already very good.

But for Smith Capital, which is growing rapidly, it obviously feels unworthy.

The company headquarters building is not worthy of a rapidly growing company!

It was nearly half past nine, and more and more people came.

Many of them are people who are known to Barron Hilton and Ted Lena.

This is mainly because of Smith Capital’s first private placement.

The investors who subscribed are other than those Wall Street companies.

Most of them are wealthy people in New York City.

Because at that time, Abel's reputation was not that great.

In addition to Wall Street being familiar with him, only the rich in New York are hearing about him.

Abel's fame truly spread across America.

That would have to wait until he acquired MGM and triggered the "Smith Storm".

Only then did many Americans know about him.

It also lets more American wealthy people know that there is a new Peter Lynch on Wall Street.

In this way, the first phase of private placement. Those who subscribed are naturally the richest people in this city.

Barron Hilton and Ted Lena have both been hanging out in New York for many years.

Of course they are very familiar with these people.

It can be said that today is a gathering of New York's wealthy circles.

It’s just that Smith Capital offers nothing.

There is only one seat per person and a free bottle of drinking water.

Even the drinking water is not the Evian they drink most, just a bottle of "Dasani" purified water from Coca-Cola.

Its pricing and brand in the United States are probably similar to C'estbon after China.

If this was another occasion, there would probably be rich people on the spot asking their assistants or bodyguards to bring water in.

Or just leave angrily.

There were more than a hundred people in the audience, but few opened water bottles.

Most of them find a few wealthy friends who are familiar with each other and gather around to chat quietly.

Soon, it was 9:30 in the morning.

When the time is up, the elevator opens in the elevator hall.

Walking out of it were a group of Smith Capital executives headed by Abel.

I don’t know who took the lead, but some of the more than 100 wealthy people began to applaud.

Soon everyone was involved and everyone applauded.

Ted Lena and Barron Hilton, while applauding, saw that Abel did not go directly to the high platform.

He just sat in the nearest seats.

The person who stepped onto the high stage was Melio, the deputy general manager who had no presence in Smith Capital.

Melio did not speak immediately, but asked the staff of Smith Capital.

A thin document was sent to every investor present.

One copy for each person, the above is the first phase of Smith Capital’s private equity fund.

General data, and dividends that everyone can get.

After these are distributed.

Melio on the stage said very directly——

"Everyone, half a year has passed in the blink of an eye..."

Melio gave full play to his eloquence.

Each investor has a copy of the plan in hand, and tells the story passionately and eloquently about things he has already known.

The rhetoric is piled up and the words are gorgeous, giving people an unclear and powerful feeling.

It's just that you can't think carefully about these words. Once you think about it, you will know that he is talking nonsense.

I have to say, this is also a skill.

Abel was quite satisfied with Melio, and everything he asked this guy to do could be arranged properly.

1450 companies are all booming, and it is said that they will start making profits next month.

He is indeed a qualified corporate steward.

The speech lasted for seven or eight minutes, and the atmosphere was well-done. Melio glanced at Abel.

"Thank you for your hard work, Melio."

Abel stood up and took the lead in applauding. When people in the audience saw this, they naturally started to applaud along with him.

"Everyone, long time no see."

"My deputy general manager just said it in detail, so I won't repeat it too much."

"Today is a penny-sharing meeting."

"Everyone has the information. Do you have any questions about the amount of funds above?"

"Or, if you think there is something wrong or unreasonable, you can point it out."

Ted Lena in the audience was the first to take the lead and said with a smile: "No problem."

"no problem."

"No problem."

Everyone present knew that this meeting was more formal than practical, but it was necessary.

The expenses of profits and management fees are clearly stated in black and white.

More importantly, after everyone sees the numbers on the document.

At this time, one or two of them were already happy in their hearts.

Including those investment banks.

They were all surprised, shocked and satisfied with the profits of Smith Capital Private Equity.

At this moment, if the person speaking was not Abel, these people would start talking.

Abel didn't even go up to the high platform, he just stood in front of his seat, holding the microphone that Melio gave him.

"Have a look at the distribution plan and sign it if there is no problem."

"The principal and profit will be remitted to your account before five o'clock this afternoon."

After Abel finished speaking, he sat down to talk with David, and Melio distributed the prepared contract to everyone.

There were not many people involved in the project in the conference room, a hundred people in total.

In fact, according to relevant laws in the United States, the upper limit of private equity can reach 200 people.

After all, the share is only 3 billion U.S. dollars, so there are more wolves and less meat.

But plus the assistants they brought over, and the employees of Smith Capital to maintain order.

There are at least two hundred people on the first floor now.

When it comes to money, you still need to check carefully to avoid loopholes in the contract.

Being careful will be beneficial to the cooperation between both parties.

"David, please announce to them what happened in issues 4, 5, and 6 later."

"That's not a matter for you to manage the funds. Do you want to announce it on the spot?"

"Of course. After all, there is a period of regret. If they decide to invest and find out the truth later, it would be bad to get angry and regret."

Abel said: "Tell them directly and clearly. Also tell them my guarantee. Whether they want to invest or not is their own business."

"Understood~"

David Mellon nodded.

While the two were talking, they suddenly noticed five or six people approaching and blocking them.

Of course it wasn't someone from FBl or ClA who came to arrest the two.

But several investment bank CEOs who made a special trip today gathered together.

They came to look for Abel.

The first one to speak was another Wall Street bulldog with a very straight temper.

Lehman Brothers CEO Richard Fuld.

"Mr. Smith! I heard just now. The 4th, 5th and 6th private placements of Smith Capital are about to begin."

"As a member of the board of directors of Lehman Brothers, one of the shareholders of Lehman Brothers Bank. You can't forget us!"

It was Richard Fuld who spoke first.

Philip Purcell of Morgan Stanley felt a little unhappy.

Philip Purcell also quickly said:

"Mr. Smith! Don't forget, it was Morgan Stanley who first introduced you to the board of directors!"

The last time Abel fought against Wall Street investment banks.

Morgan Stanley was the quickest thrower and suffered the least loss.

Naturally, they were the first to let Abel become a member of their board of directors.

Philip Purcell was right when he said that.

David Mellon opened his mouth next to him, but finally did not dare to speak.

The general manager of Smith Capital didn't know how these Wall Street giants would react if he revealed that these three private placements were not under the jurisdiction of Abel at this time.

David thought the reaction might not be good.

He finally decided to give up.

It's better to let your "King" talk about this kind of thing.

David thought to himself.

Just when the CEOs of Merrill Lynch and Bear Stearns wanted to speak, even Paulson was thinking of speaking.

Abel smiled:

"Well, Smith Capital is honored by your enthusiastic support."

"But if I am not responsible for these private placements, I wonder if you are still interested?"

"Of course I'm interested." Richard Fuld said quickly. After saying that, Bulldog felt something was wrong.

Richard Fuld looked at Abel, "What did you just say?"

"I said." Abel smiled and said: "I will not be responsible for the latest three private placements. Their quotas are only US$500 million."

"I can only guarantee that they will not cause investors to lose money. As for how much they make, that's none of my business."

This time Abel made it clear.

The people next to me also heard it clearly.

The giants of several major investment banks looked at each other and their peers.

Paulson, who had been silent until now, suddenly said:

"If that's the case. With all due respect, Mr. Smith."

"Then the attractiveness of these private equity funds to us will be reduced."

The other giants didn't speak, but they all nodded.

Everyone came here for Abel, but Abel told them.

The new private placement Abel will not be responsible, but will only provide a guarantee that it will not lose money.

For Wall Street giants like them, the appeal is almost gone.

Everyone is rushing to Smith Capital’s private placement.

Originally, he came here for the super exaggerated profits hosted by Abel.

If it's just normal Wall Street profits, then they can do it themselves.

Sometimes if you are lucky, it is not impossible to achieve more than 100% profit.

Faced with this look from these people, Abel shrugged:

"This is the situation. I have explained it directly to you. How to choose is everyone's business."

"Of course. I will continue to be responsible for the investment in the second and third phases."

Smith Capital Phase II and Phase III private placement.

When recruiting

This happened to be the time when he was at odds with Wall Street investment banks.

At that time, Smith Capital also imposed purchase restrictions on these two private equity funds.

Finally, none of the larger Wall Street investment banks were qualified to subscribe for the second and third phases.

This time, issues 4, 5, and 6 are out.

Everyone's relationship has also eased.

They thought they could take advantage of the opportunity to subscribe at this time and join Smith Capital's chariot.

Unexpectedly, the chariot was indeed Smith Capital’s chariot.

But it’s not Abel’s Super 99a or M1A2SEP.

Rather, Smith Capital is equivalent to T34 during World War II.

So what else is there to do?

Aren't they better themselves?

Seeing Abel confirm again, the attitudes of the giants cooled down.

But at this time, Lincoln, the general manager of PNC Financial Services Group's BlackRock fund outside the crowd, suddenly said loudly:

"Mr. Smith! BlackRock Fund is willing to subscribe to Smith Capital's 4, 5 and 6 private placements!"

Everyone immediately looked at Lincoln.

Lincoln also took the opportunity to squeeze in, came to Abel's side, smiled and stretched out his hand to him:

"Hello, Mr. Smith. I'm Lincoln Johnson, managing director of BlackRock Funds at PNC Financial Services Group. Nice to meet you."

Abel smiled and extended his hand to him, "Hello, Mr. Johnson, I am Abel Smith. Nice to meet you."

Abel didn't know this Lincoln.

But he knew about PNC Financial Services Group and BlackRock.

PNC Financial Services Group is also a financial behemoth in the United States.

The company was established not very long in the financial world.

It was founded in 1982 and is headquartered in Pittsburgh, Pennsylvania, in the eastern United States.

But it is also one of the serious Wall Street giants, and its influence is more likely to be greater than that of simple investment banks such as Goldman Sachs.

Because under its umbrella, it is also a comprehensive financial services group that includes commercial banks, investment banks, hedge funds, insurance business, reinsurance business, etc.

By analogy, it is almost equivalent to Citibank in the Citigroup.

Or a combination like Wells Fargo and Goldman Sachs.

This is also a giant in American finance.

It's just that the Lincoln in front of him is just the general manager of BlackRock Fund.

It is equivalent to a prince under the giant, a relatively important high-level person.

In later generations, the BlackRock fund was run by Lincoln.

It has become the investment fund with the largest amount of funds under custody in the world.

At its peak, it managed nearly $10 trillion in funds.

This is definitely a terrifying size.

We must know that by 2022, the entire U.S. debt will only be about 31 trillion US dollars.

At its peak, BlackRock controlled one-third of the U.S. debt.

What is this concept?

If you still don’t understand, there is another comparison object.

In 2021, Rabbit’s GDP is only US$17.73 trillion.

Those BlackRock funds are still cash assets!

It can only be said that there are too many rich people in this world.

There are too many people who are eligible to be hung on street lights.

Fortunately, at present, BlackRock Fund is not as dazzling as it will be in later generations.

At least it is far less attractive to the wealthy and Wall Street than Smith Capital at this time.

Otherwise, Lincoln's attitude would not be so good at this time.

I saw Abel and Lincoln chatting eagerly.

Several investment banking giants all realized that this time PNC Financial Services Group sent Lincoln to have relations with Abra.

After thinking about it carefully, Paulson suddenly interjected:

"Mr. Smith. Goldman Sachs is also willing to subscribe for a certain share."

For Paulson, it was more important to bring himself closer to Abel.

Anyway, it won’t lose money. At most, Goldman Sachs will make less money.

Paulson spoke decisively.

Even Goldman Sachs, of which Abel is not a board member, is like this.

The other investment bank giants could only cooperate.

In the end, several other people also expressed that they would subscribe for a certain share.

This also made David originally feel that it was difficult to raise funds.

The private placement, totaling about US$1.5 billion, went very smoothly.

At the end, David announced it to the other wealthy people present.

Even the share is only about US$900 million.

Those LPs who heard that these private placements were not managed by Abel were originally not very interested.

When I heard that giants such as Goldman Sachs and PNC had subscribed a large amount.

They also immediately changed their minds, and many people chose to subscribe.

So, there were 4, 5, and 6 phases of Smith’s private placement.

These fund companies have not yet launched them into the market.

It was immediately divided up in this money-sharing meeting. .

And this is just because of Abel's guarantee and because of his name. .

At this moment. .

Abel was finally certain that his status on Wall Street had been established.

The attitude of these people is the best proof.