Dong Qiangqiang's Story of Leaving Germany

Chapter 718 718. Whitewashed Numbers
The train departed at 04:30, Dong Qiangqiang finished washing at 12:[-], and left the house on time at [-]:[-].It only takes about [-] minutes by car from his home to the train station. Because the departure was too early, the first bus did not leave, so he could only walk to the train station.

Although it is already April, it will be dawn and the chill will be like late autumn.The streets paved with cobblestones of different sizes are filled with bursts of illusory mist, and under the illumination of the dim street lights, they become clusters of yellow mist, just like the streets of London described by Dickens.

Dong Qiangqiang put the hat on his head, wrapped the jacket tightly, tightened the belt of the backpack, took a deep breath, and strode towards the end of the street, his figure gradually disappeared in the cloud.

Dong Qiangqiang found out at the ticket window of the railway station that there is a direct train from Hannover to Paris every night, and it is a soft sleeper. It is also very close to the people, only 29 euros, but now it is too late to regret it, he can only spend tens of euros to honestly buy a second-class combined transport ticket for the German high-speed rail ICE and the French high-speed rail TGV.

Standing on the empty platform, Dong Qiangqiang heard the voice of the political teacher again: the German high-speed rail ICE is the fastest train in Germany. It set a record with 1985 kilometers per hour in its first test run in 317, and set a new record three years later. With a new record of 3 km/h, it was officially put into operation in 406.9, and its maximum operating speed can reach 1991 km/h.In addition to Germany, ICE's operating routes have also extended to neighboring countries such as Austria, Belgium, France, and the Netherlands.Advanced high-speed rail technology represented the new glory of German industrial manufacturing after the reunification of East and West Germany. At that time, only France's TGV high-speed rail and Japan's Shinkansen were comparable to Germany's high-speed rail technology.

As the saying goes, things are unpredictable, and no one expected that ICE, the most well-known German-made car, would overturn. In June 1998, an ICE train traveling from Munich to Hamburg derailed due to a wheel failure, which shocked Germany.

After finding out the cause of the accident, Deutsche Bahn replaced all the wheels with potential problems as soon as possible, and at the same time changed all the windows of the explosion-proof trains that caused obstacles to rescuers during the rescue process to new-style escape glass doors and windows. One time, it is mandatory to be equipped with a life-saving hammer next to the doors and windows, so that passengers can break through the windows and escape by themselves in case of danger.

Despite such serious traffic accidents, Germans still regard high-speed rail travel as the most reliable mode of transportation. After all, people can no longer go back to the era when people could travel by car and horse.

Dong Qiangqiang wanted to start learning the materials Duanmu gave him immediately after getting into the car, but in the warm and even hot compartment, his head seemed to become heavy.He casually leaned on the back of the seat, only to feel a deep sense of tiredness, and fell asleep drowsily in less than ten seconds.It wasn't until he was woken up by the ticket inspector that he felt relieved after getting enough sleep.

The train is expected to arrive in Paris around 12:40 noon (there is no time difference between Germany and France), Dong Qiangqiang glanced at his watch, and there are nearly five hours of study time.Although there was more than enough time, he didn't dare to delay, and hurriedly opened the folder Duanmu sent him.

People usually feel hungry when they are full of sleep. Dong Qiangqiang bought hot milk and hot dogs from the train attendant who pushed the dining car and hawked them, and watched them while eating.

Although the train is fast, it is very stable. Whether it is entering or leaving the tunnel or crossing the river or the field, there is no sense of bumps.

Perhaps because he was worried that Dong Qiangqiang would be frightened by the hundreds of materials in the folder, Duanmu specially wrote Dong Qiangqiang a few thousand words of "Must Read Before Reading", telling Dong Qiangqiang to understand the US stock market before learning the materials. 2001- The basic background in 2002 and the short-selling logic understood by Duanmu, so that he can carry out his work better.

One of the paragraphs reads:
At the beginning of 2001, Nasdaq began to show signs of plummeting.In order to maintain the stability of the financial market, the big brother, the Federal Reserve, decisively announced an interest rate cut, and the stock market rose accordingly.

However, with the pessimism of Wall Street analysts on the economic outlook and the release of the quarterly reports of technology companies and large traditional American companies in 2000 that were worse than analysts expected One-year financial reports, but not all companies), the stock market, which had just rebounded slightly, turned head down again.

In desperation, the Federal Reserve had to announce another rate cut, intending to boost the stock market again and boost investor confidence, but with little success.

As the annual report numbers of more major U.S. stock companies are lower than expected, the atmosphere of panic in the market is getting stronger.In view of the continuous ferment of the Enron incident, which had not yet fully erupted but had begun to panic the market and stockholders, the U.S. stock market began to experience an obvious continuous decline, and it was difficult to hide the decline even when the Fed added more interest rate cuts.

The lingering U.S. stocks survived the summer with great difficulty. They wanted to launch a Jedi counterattack in the clear autumn, but unexpectedly, the 911 and Enron incidents broke out completely, like a boxer who lasted to the end of the match. As soon as the game came up, he received a set of fierce combination punches, and he was beaten to the ground before he could resist.

Although the U.S. stock market rebounded in the last quarter of 2001, the rebound was not due to the simultaneous improvement of economic fundamentals and the profitability of listed companies, but more like a flashback.Coupled with the war in Afghanistan, 2002 fell at the beginning of the year.

Since the U.S. stock market has the largest transaction volume in the world and far-reaching influence, stock markets around the world have been affected to varying degrees.Many established technology companies in the U.S. stock market, especially communications companies and large energy companies, are facing accusations and suspicions of half-truths and half-truths, and both explicit and dark financial fraud. Especially in March, the famous investor and marathon runner Bill Rogers publicly questioned the existence of a lot of water in General Electric's revenue on multiple media platforms.At the same time, WorldCom, the second largest long-distance telephone company in the United States, has also begun to formally accept relevant investigations by the US Securities and Exchange Supervisory Commission.

In a market full of pessimism and negative emotions, one after another financial fraud incidents are like stinking ghosts, dragging a number of technology companies, Internet companies and traditional companies in the US stock market all the way to the abyss.

In this atmosphere, short-selling institutions on Wall Street have sprung up like mushrooms (Duanmu's company is among them).Everyone has one thought in mind: to make him a lot of money.

Stock transactions all over the world profit from the unilateral rise of stocks, and the things to do to profit by shorting a listed company are both simple and not simple.The simplicity is that although there are thousands of doubts from different short-selling institutions, all the suspicions will eventually fall on the same thing without exception, that is, if a listed company wants to exaggerate its income and profits, it must We will start from all aspects of finance, operation, and law at the same time, rather than simply tampering with a few figures or fabricating a few fake contracts. Therefore, as long as we can find out the "whitewashed figures" in the financial reports of listed companies, it can prove that the company is in a good position in finance and operation. If there is a flaw in one aspect, especially if this flaw will directly affect the level of the company's revenue and profits, it will allow investors to make a short-selling decision.

What is not easy is that it is easier said than done to find out the "whitewashed numbers".Small and medium-sized investors who are retail investors want to see the internal documents of listed companies or understand the actual operating conditions of the other party.This matter is not easy for insiders, let alone laymen. If you want to pick the bones in the egg, you may not even be able to pick out the bones.If you want to find the mysterious and critical wealth key, you must rely on comprehensive and thorough desk research combined with field research and analysis. Only in this way can you find the problem.Duanmu solemnly told Dong Qiangqiang that he believed that all listed companies on this planet would have problems of varying degrees, large or small, and there would be no companies without problems.

Dong Qiangqiang was concentrating on reading when the train suddenly neighed. Before he could react, his eyes suddenly went dark, and his surroundings suddenly darkened, as if someone had suddenly turned off the lights in the room.

Realizing that the train had entered a tunnel, he simply leaned back in his chair and thought.

Can I really find the problem with Vivendi?Hearing the regular sound of wheels, he asked himself softly: Does such a well-known big company still need to make fakes?What's more, Vivendi is not a fraudulent US listed company.Duanmu thinks that all listed companies have problems, isn't this too absolute?But then I thought again: Even if you are as rigorous as the Germans, wouldn’t the tragedy of a train derailment happen (although Deutsche Bahn is not a listed company)?It can be seen that whether it is a technical problem or other problems, it is actually a human problem in the end.Is it possible to think that as long as you find a problematic manager, you can follow the clues to find a problem in a certain aspect of the company?

Thinking of this, he suddenly felt a light flash in his mind, and an answer was ready to come out.Before he could think about it, his eyes suddenly lit up.The bright light instantly enveloped him, blinding his eyes.

After more than ten seconds, he slowly opened his eyes, looking at the lush trees, vibrant fields, and spring-like mountains and rivers outside the car window, he felt a thousand thoughts rushing to his heart.

===
Originality is not easy.Welcome up.Click %中￥文#.com to support the genuine original novel "The Story of Dong Qiangqiang's Study in Germany".

　Thanks for the reward mixed in Dakai.Thanks to dang, Mozhi, and book friend 20181222223007387 for their monthly tickets.

　　
　
(End of this chapter)