Rebirth of the Tech Madman

...

Such a big move by a well-known public company like Zheru Software Company will of course be known to the whole world soon, and all stakeholders will rejoice immediately.

The announcement of repurchasing stocks according to the situation is inevitably a bit hypocritical; but the decision to add an additional 500 million US dollars for marketing promotion is a real benefit.

You know, since Microsoft's windows_98 was killed by the Chernobyl computer virus, the only general-purpose operating system for consumer-grade personal computers on the market is Zheru Software; and Microsoft can only hope that the original server-oriented Windows_nt for workstations can have a home version at the end of the year, so that it can be replaced.

In other words, at this stage, the annual global shipments of personal computers have reached 100 million units. In the process of changing their roles from productivity tools to digital centers, Zheru Software Company seems to have exclusive access to the market, especially the outstanding ones. Collaborators and consumers are very satisfied.

Accordingly, there is no doubt about a conclusion, that is, a huge profit-sharing business opportunity is in front of the entire industry.

Today, Zheru Software has added an additional 500 million US dollars for the marketing promotion, which is simply to further insure this gluttonous feast, which is absolutely delicious and full!

In Tiger Fund’s office, Julian Robertson listened to Andris Halvorson, Lee Ensley, Stephen Mandel, David Goel, and other staff discuss Zheru software The company's big move to use its cash reserves has the impact of shorting its stock.

For example, as a standard value investor, Lee Ensley analyzed according to his own thinking: Zheru Software's additional $500 million for marketing promotion is essentially to further highlight the benefits it brings to the entire IT industry. Huge business opportunities to intensify the pressure of the industry's petitions to achieve the purpose of temporarily shelving the trial of the United States v. Zheru software monopoly case.

But even if Zheru Software's plan is successful, the Ministry of Justice will only compromise temporarily. It certainly does not want the United States of America v. Zheru Software Company's monopoly case to be entangled with the upcoming 2000-year US presidential election. It will definitely happen this year. In the second half of the year, we will resolutely let the monopoly judgment be finalized and split the current Zheru Software Company.”

Therefore, from a relatively long-term perspective, the foundation for shorting Zheru Software is not only still there, but also very solid.

Julian Robertson nodded, and concluded: Compared with those .com companies that hype the concept, Zheru Software is undoubtedly a company with excellent performance, but the problem is that it is too successful. The heart wants to break the monopoly situation it controls.

It is precisely because of this that I have full confidence in shorting Zheru Software.

Speaking of this, Julian Robertson changed the subject: I know that the .com company, which everyone has always looked down on us, has been able to soar in the stock market. It is becoming more and more incomprehensible, and even began to doubt our long-term The value investing analysis method used since...

That's what it is. Immediately someone complained: After analyzing for a long time, it's not as good as those laymen who simply follow the principle of 'traffic is king' and pick stocks directly based on their feelings.

Take Amazon, an online shopping company that just went public, for example. Obviously, it won't be able to achieve even a small profit in four to five years, but the IPO is still extremely hot. The stock with an issue price of 22.5 US dollars per share has been snapped up. And Kong, why?

Listening to the disappointment expressed in everyone's tone, Julian Robertson already understood that if he monopolizes power as before and does everything by himself, and suppresses his own ideas of some subordinates, it will inevitably lead to alienation.

Alas, who made the strength of the Tiger Fund shrink greatly, and it is impossible to cover up all the ugliness!

Thinking of this, Julian Robertson laughed and announced in a relaxed tone: I am going to set up several more independent funds outside the Tiger Fund system, so that people with more ideas can play.

For example, doesn't someone want to buy Intel's stock? At that time, you can show your strengths according to your own ideas.

The dull conference room, which can be said to be full of talents, was immediately stimulated by Julian Robertson's decision to come alive.

...

200 West Street, Manhattan, New York, which is the Goldman Sachs Building diagonally opposite to One World Trade Center, welcomed an extremely distinguished guest, that is, Tang Huan, the richest man in the world, Henry Paul, CEO of Goldman Sachs Mori greeted him with a smile on his face.

Goldman Sachs has just completed a good deal, that is, the underwriting of Amazon's stock was a big success in the Nasdaq IPO, and the mood of the ups and downs is naturally very good.

Of course, Mr. Richest's respect for Goldman Sachs is not limited to the simple identity of a customer, he is also a shareholder of Goldman Sachs.

Each system has its own balance of interests.

Take enterprises as an example, non-boss public companies have the same way of doing things as non-boss public companies, and boss public companies have the way of doing business as a boss public company, such as Zheru and Zheru Software under Tang Huan.

For a long time, Goldman Sachs has been a partnership company. In order to transform into a listed company, it has been arguing internally for at least ten years. Now it finally has the final result, that is, Goldman Sachs, which always helps other companies IPO, will also put itself in May this year. sent to the stock market.

However, the shares left by Goldman Sachs to the general public are not many in nature, only about 12%, of which 48% are held by corporate partners, 22% are allocated to employees, and the remaining 18% are given to retired employees. partners, and long-term investors including Sumitomo Bank.

The richest man holds a 2.8% stake in Goldman Sachs. This visit is a work tour before Goldman Sachs is about to go public.

However, Henry Paulson still did not forget to joke: Don, I thought you would drop by the door for business.

Business? Tang Huan frowned, I really want to send a business to Goldman Sachs.

Then tell me... Henry Paulson hurriedly urged.

The richest man looked at the other party with burning eyes, and asked slowly: Tell me first, who is shorting Zheru Software Company?

Well... Henry Paulson had a look of embarrassment on his face.

As soon as Tang Huan stretched out his hand, the assistant next to him sent a document lightly, This is the first fund, 500 million US dollars.

After glancing at the documents, Henry Paulson pretended to ask his subordinates to investigate, and tried to persuade him: Why do you care who is shorting Zheru Software's stock? Ready to repurchase Zheru Software stock.

It won't be that simple. The richest man snorted, In the eyes of some people, Zheru Software Company is an excellent gap now. Once opened, it will have a symbolic meaning. Just like the stock market crash, the total It starts with the factor that can cause a crowd to panic.

Henry Paulson's lips parted, he didn't know how to answer the words, but fortunately, the steps came soon, and his subordinates sent the results of the investigation.

In fact, this is just a project. Zheru Software Company is not just a couple of kittens. How could the cause and effect of stock price fluctuations escape the vision of these professionals.

If Goldman Sachs was really lagging behind in intelligence, it would have disappeared in the brutally competitive Wall Street long ago.

Henry Paulson opened the file, glanced at it twice, and put it in front of Tang Huan pretendingly, explaining: From the information collected so far, it is Julian Robertson of the Tiger Fund who is taking the lead in doing this .”

The richest man, who didn't even look at the document, nodded slightly and said: Then, for the 500 million US dollars, let's short US Airways, which is heavily held by Tiger Fund.

Henry Paulson smiled wryly, Don, as long as you want, you can buy US Airways, the all_american__ company founded by the DuPont family, whose history can be traced back to 1939, and then sweep the Tiger Fund out.

I'm not interested in the civil aviation industry, and I don't want to stretch my hand so far. Tang Huan said blankly: I hope that Goldman Sachs will help Zheru Software to fight back against Tiger Fund, and at the same time give a helping hand to those who are still worried about the California high-speed rail. The vested interests in the air transportation field convey an attitude, that is, if I am pushed into a hurry, not only US Airways, but even the entire civil aviation industry, I will be short for three years.”

Anyway, the market's favor for high-tech has not yet come to an end. Especially this year, huge amounts of capital have poured in from traditional industries. I have plenty of ammunition.

Henry Paulson scratched his head at this fighting move and deliberately refused, but the first fund was 500 million U.S. dollars.

The richest man casually read the Goldman Sachs investigation document, and after giving Henry Paulson time to think about it, he said calmly, Hugh Michael, the CEO of Bank of America, should have been in Merrill Lynch. It’s almost over there.”

Goldman Sachs is still busy with its upcoming IPO, so I guess it's really overwhelmed.

Then I'd better go to another house on Wall Street to see if anyone is willing to accept this project.

Henry Paulson hurriedly picked up the document clearly marked with the number and said through gritted teeth: As you wish, Goldman Sachs is honored to be able to provide this service.

...

In Tiger Fund's office, Julian Robertson and his group were still struggling with their value investment tools, as if they had failed in the current extremely hot market, and thus missed many opportunities, a staff member came to report in a panic Dao: Goldman Sachs and Merrill Lynch suddenly sold two large orders to short US Airways, which caused US Airways' stock price to plummet.

Julian Robertson's hands trembled involuntarily, what are you afraid of, what are you doing!

You must know that compared with many other investors chasing high-tech stocks at this stage, Tiger Fund focuses on traditional industries in the opposite direction, and US Airways is the top priority here.

Otherwise, the group of Julian Robertson would not be sitting in the office now, flocking to the capital from traditional industries for a large amount of capital this year. Com concept stocks intensified trend and worry hastily.

After stabilizing his mind, Julian Robertson ordered: Everyone act, and quickly find out what's going on.

After all, they are all in the same circle, and clues such as wind and grass can still be caught quickly, not to mention that Mr. the richest man, who originally wanted to kill a chicken for monkeys to see, is intentionally releasing the wind of warning.

Julian Robertson, with a livid face, slapped the table heavily, old hatred and new hatred welling up in his heart.

After a while, another person came to report: Goldman Sachs and Merrill Lynch's short selling of US Airways was not so violent, and they seemed to be testing the market's reaction.

Julian Robertson, who secretly breathed a sigh of relief, immediately ordered: Continue their order, and don't let the market create an unfavorable signal for US Airways.

This day, in the midst of accidents and hustle and bustle, passed.

In the next day, Julian Robertson, who had calmed down a little, was furious again by the content reported by two newspapers in New York, the New York Post and New York Daily News.

Today, the New York Post and New York Daily News, which belonged to the sworn enemies, have formed around the richest man, forming a clear-cut two factions.

Just read it, in any issue of the newspaper, as long as Tang Huan is mentioned by one party, the other party will definitely rush up from the opposite side and carry out a tit-for-tat bite.

This scene has become a spectacle in the New York media circle, so much so that many local people are used to buying two newspapers at the same time, just to see how they quarrel around one issue. sick!

In today's issue, the New York Post and New York Daily News once again mentioned Mr. Richest at the same time.

The New York Post only looked at the effect and did not ask the cause with a sensational headline: Don wants to short the entire US civil aviation industry for three years.

New York Daily News wrote in an authoritative tone: Strongly fight back that Zheru Software Company was shorted, Tang shorted US Airways, which is heavily owned by Tiger Fund, and put down his words, since Julian Robertson lost a lot in Xiangjiang If you are not convinced, then we will see the outcome this time, and I don’t mind spending three or two years teaching you how to be a human being!

Julian Robertson's hands trembled again, this time he was not surprised, but angry: Okay, then I will accept the move!

However, a piece of news that made Julian Robertson heartbroken: U.S. President Bill Clinton summoned Attorney General Janet Reynolds at the White House; The Department of Justice will temporarily slow down the progress of the United States of America v. Zheru software company monopoly case.

Affected by this news, Zheru Software's stock, whose share price had fallen below 50 US dollars, rebounded strongly before Zheru Software actually repurchased it.

What makes people even more envious is that the Dow Jones Industrial Average, which had been lingering for a long time before the 10,000 mark, was finally stimulated to explode. On March 29, 1999, Mai On the 10,000-point mark. The newspaper closed at 10,160 o'clock.

Seeing this scene, Julian Robertson suddenly felt a pain in his cheek.

Oops, these. Com concept stocks are really unreasonable, and I don’t know if it’s too late to start now?