Dong Qiangqiang's Story of Leaving Germany

Chapter 738
Duanmu came to Paris for the first time, and everything was new. Under his strong request, Dong Qiangqiang parked the car in the parking lot next to the Champs Elysees.No way, this place is too famous.

After parking the car, Dong Qiangqiang and Duanmu wandered freely in the street. When they encountered a luxury store, they went in and wandered around. After leaving the store, they exchanged their views on Vivendi in a low voice. Before they knew it, it was dark.

As long as there are well-decorated restaurants on both sides of the street, you can see long snake queues waiting to eat.The restaurants with good reputation that Duanmu found on the Internet were all overcrowded. After walking for more than half an hour, he was too hungry to walk and was unwilling to make do with it. Finally, he chose a Chinese restaurant with no waiting tables.

The moment he saw the signboard of the restaurant, Dong Qiangqiang felt a "thump" in his heart.It was a coincidence that Duanmu chose the Lily Restaurant where Qin Youbo worked.Dong Qiangqiang glanced at his watch, it was about the same time as the last time he saw Qin Youbo.

"This... is not good." Dong Qiangqiang hurriedly stopped Duanmu who was about to enter after pushing the door.

"Have you eaten?" Duanmu stopped walking as expected.

"Well, this restaurant is not run by Chinese." Many Chinese restaurants in Europe are run by Southeast Asians. Dong Qiangqiang knew that Duanmu also knew this, "It's expensive but not authentic."

"Cough, don't worry, let's talk about it later." Duanmu didn't care about it. "If we can't cook, let's eat roast duck. If you dare to hang up the signboard of a Chinese restaurant, you must have roast duck, right? Even if there is no oven, there should be an ordinary oven." Right? Let’s go, if you come, you will be safe.”

Seeing Duanmu's insistence, Dong Qiangqiang could only follow in.

The last time he sent Qin Youbo off, he just walked to the door. This was the first time he entered the Baihe Restaurant.

The decoration in the restaurant is antique, and the overall style is mainly brown. Chinese-style carvings and hollowings such as the Wanzi pattern, Chilong pattern, and bat auspicious cloud pattern can be seen everywhere on the internal buildings and furniture.Next to the water bar is an altar table for the God of Wealth. Elegant blue and white porcelain and green plants of suitable height are scattered in the store, and soft and soothing ancient Chinese music echoes faintly in the entire hall.Dong Qiangqiang has to admit that the atmosphere in the store is much more upscale than the Chinese restaurants he had eaten in Italy before.

Dong Qiangqiang couldn't help looking in the direction of the water bar, but he didn't see Qin Youbo's figure, which made him heave a sigh of relief. At this moment, Duanmu whispered in his ear: "It looks like a Cantonese restaurant, and the interior style It’s very similar to the Hong Kong restaurant I ate in New York. Maybe there’s no roast duck.”

"Then change to another family?" Dong Qiangqiang was eager to leave quickly.

"Forget it, let's go to this one," Duanmu decided with a wave of his hand, "the next one may not have (roast duck) either."

"Let's go over there, where there are few people and it's easy to talk." Dong Qiangqiang was afraid of bumping into Qin Youbo, so he hurriedly walked to a corner with few people.

Duanmu must be really hungry. Although Dong Qiangqiang kept stopping him, he still ordered a whole table, braised oxtail stew in braised sauce, stir-fried pork ribs with black pepper, salt and pepper balls, steamed eggs with big clams, etc. I ordered shrimp ball fried rice and beef fried rice, and finally ordered two bowls of hot and sour soup.

Dong Qiangqiang chose freshly squeezed juice because he had to drive.Duanmu asked himself a bottle of iced Kimbeck.

The temperature in the restaurant was moderate, after the hot dishes and meals, Duanmu's forehead and the tip of his nose were covered with sweat, and his face also had a layer of oily sheen, as if he had applied a layer of oil film.

"This (rice) is much better than what I ate in the United States," Duanmu burped contentedly, and wiped off the oil stains from the corners of his mouth with a napkin. "It's Paris after all, big cities are different."

Dong Qiangqiang immediately realized that Duanmu was going to talk about business.

"Two things." Duanmu put down his napkin, took a sip of cold beer and wiped his mouth, "The first is that I have some ideas about how we can make money, and the second is what you should do next. .”

There were quite a few people dining in the hall, but there was no noise, only the melodious and melodious ancient music was played softly. Dong Qiangqiang sipped his juice and listened quietly and calmly.

"I thought about it seriously, although the financing of Cicada was very smooth (successful), and we both made some money in the German stock market before, but our experience in making large-scale investment decisions is not... rich , and experience is often directly changed from lessons learned, that is, losing money. We have lost too little money and lack experience, which puts a question mark on whether we have investment skills, do you agree with this?"

There were occasional pauses in the middle of Duanmu's speech, his tone was steady, there were no big ups and downs, and his expression didn't change too much. He was very calm.Dong Qiangqiang vaguely felt that Duanmu this time was a little different from the last time he met, he nodded in approval and said: "Agreed."

"In addition to investigating those suspected listed companies in the United States this time, I also learned the short-selling mechanism of US stocks from some investment experts, but after understanding it, I think it is not the best choice for us to directly short US stocks."

"Is it because the stock price will fluctuate at any time after short selling, so we will be liquidated?" Dong Qiangqiang has read a lot of investment articles in order to write a seminar report, so he immediately reacted.

"Although the U.S. stock market allows investors to short stocks that are not optimistic, there is a cost to shorting. In addition to paying the interest on securities lending and returning the stock when it matures to the securities company, sufficient margin must be paid to the securities company before the securities lending. Because we are New companies are not those big institutions with a long history and good reputation in Wall Street. Once a brokerage firm lends us stocks and we end up losing money or even going bankrupt due to improper operations, resulting in the inability to return the stocks to the brokerage firm on time, the brokerage firm will have to pay for it from the market. The cost of repurchasing stocks, but brokers are not stupid, so they have to collect a part of the deposit in advance as a risk control method for securities lenders in case of insolvency. I asked someone about it, a newly established offshore fund company like ours The cost of securities lending on Wall Street is not low. If we have 50 funds, 30% or more may be used as a deposit, and the efficiency of fund use will drop immediately.”

"If you short US stocks, you really can't get around the margin." Dong Qiangqiang agreed.

"In addition, although U.S. stocks can be traded on the same day to achieve T+0, the time for the return of funds is not T+0, but T+3, that is, the money obtained from shorting stocks on Monday can only be received on Thursday, while U.S. stocks stipulate that the same batch of stocks Short selling can only be done once. If you want to short short repeatedly, you have to buy back the sold stocks before you can short the second time. But there are two risks here. One is that the stocks you borrow from the brokerage have a time limit Yes, it must be returned when it expires. If you shorted a certain stock, but in the end due to various reasons, investors voted with their feet to pull up the stock price again, then you will lose money. The second is that naked short selling is allowed in US stocks. Naked short selling means that for those short-selling institutions with a large number of securities lending qualifications, in order to avoid tossing, they may not actually get stocks from securities companies when they sell securities, that is, the stocks have not actually been delivered, but It’s just that a certain amount is recorded in the lending system of the brokerage firm, as long as the borrower automatically returns the relevant fees of the securities lending to the brokerage firm when it expires. The brokerage firm itself does not even hold the stocks it can lend, and the brokerage firm also shares with other brokerage firms "Borrowed" stock quota, as long as the relevant fees are paid when due. This forms a strange and interesting phenomenon: a stock may have only 10000 outstanding shares, but the number of shorted shares exceeds 10000 Stocks. Although the U.S. Securities Exchange Law and the market trading system have regulations on short selling, the supervision on short selling is not strict in actual trading, which leads to the fact that investment institutions playing naked short selling can take advantage of the time difference to sell a stock Directly delisting or being unable to trade. If this happens, although you have earned money for shorting stocks, you have lost the margin and reputation you paid at the brokerage. Borrowing stocks. And the financial circles say it’s big or small, once you can’t borrow stocks from a brokerage, it’s hard for you to borrow stocks from other brokers.”

"Then can't we also sell naked?" Dong Qiangqiang asked, "'The monk can move, but I can't?'"

"Our qualifications are not enough. The brokerage firm will review the company's paid-in registered capital and past historical records before lending stocks. Although short selling sounds lofty, the water inside is very deep. What I just said is just what I know. Many extreme situations may turn us over in the gutter. For example, just after you sell short, the brokerage firm asks you to return the stock in advance. What should you do? You just finished shorting, and the listed company immediately recruited a group of long-selling institutions to help pull up the stock price. When you get up or release good news, what should you do if the stock price rises instantly? So in the final analysis, it is one sentence: shorting does not necessarily make money." Duanmu concluded.

"So you have been talking about shorting a certain stock before. You don't really want to borrow securities from a brokerage, but you want to buy its American put option products, right?" Dong Qiangqiang has been in contact with Duanmu for a long time, so he guessed immediately Thinking of his thoughts, "This can not only maximize the efficiency of capital use, but also avoid short-term fluctuations in stock prices. American options are not as rigid as European options and can only be exercised on the expiration date. As long as we make money on the way, It can be sold anytime."

Duanmu picked up the beer on the table and tapped Dong Qiangqiang's juice lightly: "Bingo! American option is our drill bit. As long as we find a suitable ground, we will hit it hard until money flows from the ground like water, oil, and sweet spring. Come out."

Before Dong Qiangqiang had time to say anything else, someone shouted not far away: "Why are you here?"

From the sound, he knew that the person calling him was Qin Youbo, and he was really afraid of something coming, but he couldn't leave, so he had to stand up and smile at Qin Youbo who was walking over: "I just came in when I was nearby. Do you work today?"

In fact, the last sentence was nonsense, but Dong Qiangqiang didn't know what to say to her. He had invited her to dinner a few days ago.

Qin Youbo was wearing the work clothes of a restaurant at this time. Although the clothes were plain, they couldn't stand up to people. He looked good in everything he wore.

She glanced at the greasy face of Duanmu, motioned Dong Qiangqiang to go aside, raised her chin towards Duanmu, and said with a half-smile: "This is your friend?"

Seeing her weird face, Dong Qiangqiang suddenly realized that there was something in her words, and hurriedly denied Sanlian: "No! No! Don't think about it!"

"Don't worry," Qin Youbo smiled understandingly, "Everyone is an adult, I won't talk to my aunt."

Dong Qiangqiang couldn't laugh or cry: "He is my business partner..."

Before he finished speaking, he heard a magnetic male radio voice behind him: "Hello, Duanmu Xinghao, nice to meet you."

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(End of this chapter)