Dong Qiangqiang's Story of Leaving Germany

Chapter 559
"Are you talking about Enron, an American listed company that is engaged in energy business?" Dong Qiangqiang looked at the glowing red and beautiful Huoshaoyun above the horizon. Andersen for financial audit, it seems Andersen has been fined a lot..."

"In June this year, the U.S. Securities and Exchange Commission fined it $6 million." Duanmu asked, "Then do you know what happened to Enron?"

"You let me think about it..." Dong Qiangqiang remembered that when he read the newspapers before, the news of this company was all in the newspapers, and they were long and full of stories.But because it is a listed company in the United States, Dong Qiangqiang didn't pay much attention to this part at the time, "If I remember correctly, it seems that an American investor suspected that Enron had fabricated the company's income, but I do remember the specifics now. I don't know."

"Jim Cheos, the first investor to question Enron. After he questioned, investors in the market began to take this matter seriously." Duanmu said eloquently, "I checked its home The stock price was at $80 at the beginning of the year, but now it has fallen below $20.”

"Then are you going to short this stock again?" Dong Qiangqiang knew that U.S. stocks could be long or short freely, but he didn't understand the purpose of Duanmu telling himself this, "But isn't your money already in Munich Re's bearish position?" Are you in the options? Do you still have money?"

"You're right, I really have no money outside." Although Duanmu said he had no money, Duanmu's heart was as sweet as honey.His Munich Re insurance put option has made his book a very large fortune far exceeding his expectations. If it weren't for the fact that the European option can only be traded when it expires, he would like to get it right away.If that's the case, even if he doesn't have a job, he can live comfortably for many years. "Enron will announce its financial report for the second quarter in October, and now the market's opinion is completely one-sided. No one is optimistic about it, so don't worry about it at this time." Whether to short its stocks or buy its put options, the cost performance is not high, and there is great danger, but what I want to say is not this.”

Dong Qiangqiang thought to himself: I let you say everything.But he said, "Then what do you want to say?"

"Andersen."

"An Ran's audit company?" Duanmu's thinking was completely jumping, and Dong Qiangqiang was a little crazy, "What's wrong with it?"

"Think about it, if Enron's financial problems are really problematic, then its auditing company must know a lot of inside information if it is not an idiot, but in the end it still chose to issue a financial audit report with no opinion, instead of telling investors that The company's financial data is tricky. Isn't it clear enough?"

"Say it straight, what did you think of?" Dong Qiangqiang didn't bother to guess.

Seeing Dong Qiangqiang's anxious expression, Duanmu smiled: "Do you still remember Mr. Bian's company?"

"Of course I remember, isn't their company about to go public? Does this have anything to do with what you said?" Dong Qiangqiang asked suspiciously, "You don't want to tell me that the audit of Bian's head office is also done by Andersen. right?"

"Hey..." Duanmu smiled maliciously, "It's easy to chat with you."

"Isn't it?" Dong Qiangqiang felt that Duanmu's words were unbelievable, and couldn't help gasping.

"It was only yesterday that I found out that our company would recommend Andersen to them. What's more exaggerated is that I found out another thing before leaving the company this afternoon." Duanmu lowered his voice while looking around, "You would never think of that. "

Dong Qiangqiang's curiosity was aroused at once: "Let's hear it."

"I went to the company's copy room in the morning to use the shredder to shred some materials, but the only shredder was not working. I had a brainstorm and dismantled the machine. Guess what happened?" Duanmu Mysterious way.

"What's the matter?"

"The paper shredder...was jammed by a piece of paper." Duanmu said nervously.

Dong Qiangqiang thought there would be some secrets, but what he heard was this sentence, and he couldn't help but sarcastically said to Duanmu: "It seems that the machine in your company should be called a cardboard machine, which is more appropriate."

Duanmu ignored Dong Qiangqiang's ridicule and continued: "I knew the mathematical formula on the paper was to calculate the future return of the stock put option, but what surprised me was that the name of the stock was the same as the name of Bian's head office. It's exactly the same, don't you think it's strange?" Duanmu stared at Dong Qiangqiang's eyes meaningfully, separated the five fingers of his left hand, and slowly raised them: "This is Bian's head office." Then he separated the five fingers of his right hand and slowly lifted them up. Start: "This is its put option."

Dong Qiangqiang was also confused: "But isn't your company the investment bank responsible for operating their company's listing? Can you still design the company's put option while promoting the company's listing? Isn't this a conflict of interest? German securities regulators Does the institution ignore you?"

"We are not an investment bank," Duanmu corrected, "we are at most an intermediary, helping it find a law firm to resolve legal disputes, helping it find an audit company to audit financial data, helping it find a real investment bank that can specifically promote the company's listing, such as Deutsche Banks or Swiss securities. As long as the company can finally go public, our contract will be considered complete. As for its stock price performance after listing, that is not what we should care about.”

Only then did Dong Qiangqiang fully understand Duanmu's intentions: "So you suspect that your company deliberately took over the IPO job of Bian's head office, and then helped it to go public, while using the information you collected to short it? Why are the French so ruthless? "

"Of course, this is just my own analysis. After all, there is too much information involved here, and I haven't had time to sort it out, so I want to hear your opinion." Duanmu looked at Dong Qiangqiang seriously, and said cautiously, "But if things As I guessed, the business or income of Bian head office is tricky, once investors in the market question this, the company's stock price will definitely not be able to support it. Do you understand what I mean?"

"So you suggest that I buy the short-term put option of Bian Headquarters?" Dong Qiangqiang straightened it out, "Am I understanding right?"

"Old Dong, even if you don't do this kind of thing (short selling), someone else will do it. Besides, put options are completely legal financial products. I can't buy them this time, because my identity does not allow it (suspected conflict of interest) , Second, I have no money. But if you can earn this money, I will be really happy for you.” Duanmu used the stock selection software written by Dong Qiangqiang with a huge amount of money to become more and more smooth, and his work went smoothly. The business is also making great progress, so I hope to give Dong Qiangqiang some material rewards in my heart, and Mr. Bian's company is like a fat sheep delivered to their door, actively jumping in front of them.

Dong Qiangqiang understands that what Duanmu said is the truth, he is not without money, but he has no idea what is wrong with this company.He thought for a while, nodded and said, "Thank you. Then I'll study it when I go back, and I'll ask you if there is anything I don't understand."

Seeing that Dong Qiangqiang didn't refuse his kindness this time, Duanmu patted him on the shoulder happily, and said with a smile: "I think if you do this order well, maybe you won't have to work hard to catch wild boars again. Directly enjoy your wonderful life with financial freedom, food and drink.”

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(End of this chapter)