Reinventing the Millennium.

Chapter 778 Thank You (Two in One)

The conference hall on the 21st floor of the Hang Lung Building fell silent as Mr. Fang announced that he would short Lehman.

As the first Chinese concept stock to be short-sold in the United States, its press conference today can be regarded as worth the fare for the media reporters!
short?Anti-short?

Leaving aside whether Mr. Fang's data and logic are correct or not, his move has exceeded most people's expectations!
However, in Zhihu’s “Guiding Jiangshan”, there are really some answers suggesting Mr. Fang short Lehman, but such a few scattered ones are more like tricks, and they haven’t attracted much attention.

At this moment, the reporters who are the first-line experience officers of Zhihu all flashed the answers they had read in their minds—was it really guessed right?Isn't Fang always too emotional?
No, it's not all guessed right. Mr. Fang didn't want to short Lehman alone. According to him, he wanted to bear the losses himself and let more people short together!
The participants were thinking about the "AAA priority" marked by Mr. Fang. Although they still don't know the mystery in it, if it is true as Mr. Fang said, it is not impossible to short Lehman's "early adopter style". Anyway, Has the highest immunity from breach of contract.

"Thank you for your attention to Yike. I believe that Yike can bring products that are more popular with consumers."

Fang Zhuo's routine last sentence ended the presentation of the press conference.

This also means that it is the favorite part of the live media to ask questions.

Mr. Fang raised his hand to drink tea, and all the reporters in the audience raised their hands to ask questions enthusiastically.

"Everyone is very enthusiastic. I really don't know which media to choose." Fang Zhuo put down his glass, glanced at the conference hall hesitantly, and said relaxedly, "This friend from Sina is the best."

whispering sound……

The unanimous voices of most people at the scene turned into smiles on the faces of Sina reporters, regardless of who Fang always belonged to!
After he stood up, he was not polite at all: "Mr. Fang, do you think your shorting of Lehman will have the same impact on its stock price as Lehman's shorting of Yike?"

Judging from the current situation, the two reports of Lehman did not play much role.

Wall Street giants can't do short selling, so how much impact can Mr. Fang's suspected move have?
"There is no evidence to say, the stock prices of the two companies are there, let's see." Fang Zhuo changed the subject, "If Lehman has the ability, the stock price will go up and see if it can increase my principal. "

There are many ways to short U.S. stocks. This time, Bank of China uses a direct link to the stock price, borrowing stocks from a brokerage to sell them and then buying them back when they expire.

Currently, Lehman’s stock price is around US$81, which is a relatively high level since its listing. Even if it can rise in the future, the loss of principal will hardly reach the level of liquidation. This is the difference between shorting individual stocks and futures with leverage.

The answers obtained by the Sina reporter's question made everyone feel that this was a move by Mr. Fang after he was offended. The bottom line for ordinary people to lose money is absolutely different from Mr. Fang's.

The second question was from the "Huaxia Securities Journal". The reporter asked about the compliance of this method: "Mr. Fang, what you said is that the Bank of China launches financial products so that it can face a wider group of financial management users. Is this true?" Suspected of violation?"

If you say it will be launched, it will be launched. Is the Bank of China opened by your family?

Oh, is it the Bank of China that Mr. Fang is the director of?
Or ask about violations.

Faced with such an inquiry, Fang Zhuo replied seriously: "It must be compliant, otherwise I would not say it on such an occasion. Generally speaking, this is a cooperation between Bank of China and Bank of China. I personally think it is relatively meaningful."

He has repeatedly communicated with the Bank of China and the Bank of China in the past few days to ensure that there will be no problems in this regard.

In fact, China is gradually relaxing restrictions on QDII investment subjects, investment products, investment markets, and foreign exchange purchases. As a bridgehead, Heung Kong is also being encouraged to cooperate with mainland banks.

This is an encouraged method, but it is quite new to be used to short Lehman.

This is not the only thing that is trendy today. The housing prices in the United States, CDOs in the subprime bond market, and the development and cooperation of smartphone systems that media reporters are not familiar with...all of these were used in the press conference of the "short selling event". The amount of information appears to be too dense.

Some well-known media and newspaper reporters are not related majors, but many financial reporters who are full of confidence and know about the short selling of U.S. stocks in advance are also a little timid.

It must be that the "Apple Daily" from Xiangjiang has a heart. Its reporter was finally clicked and immediately asked questions that were more relevant to today's topic, asking aggressively: "Mr. Fang, is there any financial fraud in Yike?" ?”

"It's strange, even Lehman didn't mention the four words of financial fraud. Why do you ask?" Fang Zhuo wondered, and gestured, "Oh, which media are you? How did you get in?"

Soon, the reporter was hacked out of the half-sentence that he didn't notice, "Of course it's because of Yike's financial report about..." and the half-sentence that was suddenly hacked, "What are you doing, I'm a media reporter".

Today's press conference has only two Hong Kong media that have passed the application, one is "Xiangjiang Wen Wei Po" and the other is "Oriental Daily".

The small change made many reporters look unhappy.

Fang Zhuo explained kindly: "Since the rules have been set, we must abide by them. There should be no friends from the media who are not invited here? I'm not angry at his question, but today's press conference is for Lehman's shorting. If I have time some other day, I will hold a 'press conference for some Hong Kong media to listen to the wind and rain', and then I will answer his questions."

Reporters from "Hong Kong Wen Wei Po" and "Oriental Daily" looked at each other, wondering if they wanted to take their seats against "some Hong Kong media". After hesitating for a while, they remained silent.

A reporter from Sohu Portal asked a question to clear up the slightly awkward atmosphere: "Mr. Fang, I heard that Lehman shorted Yike. There is also some grievances between you and the head of Lehman Fuld. Whether Lehman shorted Yike Co or vice versa, is it more of a personal vendetta?"

"I met Fuld in New York, and we didn't agree on some points of view at the time, but if we say it's a personal grievance, it doesn't seem to be it." Fang Zhuo replied, "As the decision-makers of the company, we have a good understanding of things. The opinions and judgments of trends often determine the actions of the companies under him.”

"You know Fuld, of course because he is Lehman's Fuld. I don't mind Lehman's short-selling, and I believe Fuld won't mind my short-selling."

"Fuld is a good man, bless him."

The sudden and polite answer from Mr. Fang made many reporters feel uncomfortable. Just now, they were so fierce that they had the reporter crossed out.

And, what's with this kind of condescending blessing?

Time is running out, and today's extra doubts are all pressed in my heart.

Another reporter stood up and asked a question, and asked a relatively imaginary question: "Mr. Fang, short selling is used to deal with short selling. What do you think of short selling as a financial method? And, its future impact on Chinese concept stocks?"

With the first Chinese concept stock being shorted, there will definitely be a second one.

This short event has a certain historical significance.

Fang Zhuo took a small sip of his tea, and pondered: "Short selling can bring profits, so more Chinese stocks will inevitably be targeted. For Chinese stocks, legal compliance is of course a must." Yes, it can’t be just because it’s dubbed a “general concept”, but in fact…”

"The U.S. stock market doesn't know much about distant Chinese companies. They are likely to believe what the institutions with the right to speak say, because there is no more convincing contact channel. This is an objective unfairness."

"Yike has a lot of business on a global scale, including the services provided by our iMusic abroad, which are also familiar to many consumers and institutions. Therefore, the move of a giant like Lehman has only brought about little impact. If If it’s another company, that’s not necessarily the case.”

"It can only be said that we must not only regulate ourselves, but also speak out legitimately."

When Fang Zhuo said these words, he suddenly wondered whether this would lead to the emergence of short-selling institutions targeting China concept stocks in China. This is actually a blank field that has rarely been involved, and there are indeed problems with the business of China concept stocks.

Compared with American institutions, Chinese institutions' understanding of domestic companies may be more convincing in the U.S. market.

Oh yes, there is also a mainland fund suspected of cooperating with Lehman, but I don't know which one it is yet.

There are several regular questions one after another, including inquiries about the Yike mobile phone project.

"I have full confidence in Yike's mobile phone. I think this is not inferior to Yike's decision to pick Sony."

"If there is no accident, everyone will see our mobile phone next year."

"I hope it will surprise everyone."

Fang Zhuo actually hopes that everyone will ask more questions about mobile phones, but unfortunately, the media's interest is not as strong as he imagined.

He showed his friendliness to the media: "I will not pick anyone for the last two questions. You can discuss what you want to ask about the last two questions, and leave the other one to Sina."

After everyone's discussion, the question was raised, which was a bit interesting to Fang Zhuo's surprise: "Mr. Fang, if you really make a profit by shorting Lehman, what do you want to do with the money?"

Invest in mobile phone research and development?Regular charity work?Regal way to improve life?
Fang Zhuo thought about it for two seconds before answering, "I want to buy an office building, but I don't know if it's enough."

Well, questions and answers that neither of them guessed.

Finally, the press conference was concluded with questions from Sina reporters.

"Mr. Fang, what is your most intuitive feeling about Lehman Brothers, a well-known Wall Street investment bank, shorting Yike?"

Fang Zhuo sighed, spread his hands, and gave the last answer, which was also his most real and intuitive feeling: "Lehman is crazy!"

Afterwards, President Yike got up, laughed, and waved goodbye.

This concludes Yike's press conference.

I don't know if Mr. Fang's laughter is too charming. Many media have adopted Mr. Fang's last sentence as the title or subtitle.

——"Mr. Fang: Lehman is insane! "

——"Lehman Brothers shorted Yike, Fang Zhuo called for anti-short! "

——"Which is right and which is wrong?Lehman VS Yike? "

——"A big analysis of Fang Zhuo's views on the US real estate market! "

——"Yike and the three major operators and the foreign giant Google jointly formed the Open Mobile Alliance! "

——"A Confused Press Conference! "

——"Why is Mr. Fang laughing?" "

The press conference was very tight, with a lot of information. All of a sudden, except for "Mr. Fang shorted Lehman" which occupied the most content of the report, the reports from other directions were indistinguishable.

Is Yike going to enter the mobile phone market?No, it is the richest man in the mainland who wants to join the competition.

Is Fang always shorting Lehman Brothers?No, Mr. Fang invited everyone to come together.

Is it Mr. Fang who asked the reporter to be expelled from the stage?No, ah no, yes, it is Mr. Fang.

The major media reported one after another. The wording of the mainstream newspapers is relatively objective description of the event process, while the financial media all stay up late and work overtime to analyze foreign real estate and CDO.

As for Internet media, the tone is relatively free and enthusiastic.

As Zhihu, which was not invited to the scene but has the most part-time reporters, it released several related questions as soon as the press conference ended.

Among these issues involving "mobile phones", "real estate", and "short selling", the most controversial one is the response method of "Mr. Fang short selling".

Can this kind of shorting work?Are you angry?

Except for Le Ziren, the views of the two sides are quite different.

One side is "why short Wall Street giants", "even the richest man in the mainland is not enough to watch in front of such giants", "this is a show for the domestic media and audience", "this is a press conference used by Mr. Fang to divert attention" wait.

The other side is "Lehman can do it, but Mr. Fang can't do it?" "Because he is Mr. Fang", "I think Mr. Fang's data has something to say" and so on.

The discussions on Zhihu are very intense, and gradually heated up with the increase of media reports.

Substantial investment was born when the two sides quarreled with each other.

——"I dare to invest with President Fang and short Lehman, do you dare to short Yike?"

——"I'm in New York, I'm bearish on Yike, and I've already sold securities to sell short."

It is difficult to distinguish between the superior and inferior in the debate of only words. Different applications of different data can often lead to opposite conclusions.

As the co-founder of Zhihu, Xiong Xiaoge paid close attention to the popularity of the website and also carefully read the various answers, and finally couldn't hold back.

"Friends, I have always admired Mr. Fang's vision. I discussed the real estate situation in the United States with a few friends, and I also think there are many bubbles in it."

"Mr. Fang has joined hands with Bank of China and Bank of China to launch financial products this time. The threshold is very low. I even think this is a very meaningful short-selling witness. This is Mr. Fang's invitation to us. Anyway, it is his capital that will be paid first. gold."

"Thank you for the invitation. I will invest the 10 yuan in my pocket first. From today, I will post the investment situation every month."

"See you in half a year."

This is a sincere invitation from the richest man in the mainland to the majority of happy people and financial managers. This is truly what you lose if you lose, and what you earn if you earn.

A well-known investor spent all his net worth of 10 yuan to live broadcast the short-selling situation on Zhihu. Suddenly, there was a wave of posts thanking the invitation and live-streaming the short-selling process.

(End of this chapter)