legendary trader

Chapter 799 800 house

The time has come to December, and it will be a new year soon.

Since the end of the rice stock operation in April, Chen Fan's small life is quite comfortable, especially seeing the little guy grow up day by day. Although it is only two months old, the wrinkled little face at birth looks much better now. At least at this time, Chen Fan could see the child's face as it was in the photo when he was a child.

While the baby was awake, Chen Fan hugged and teased him for a while, changed the diaper, and fed the baby. Obviously, the little guy started to drowsy again.

Children at this stage are like this. They sleep for a long time every day. Chen Fan handed the little guy to the nanny, and she will coax the little guy to sleep. Naturally, Chen Fan also took this opportunity to rest. Liu Ying went to the company headquarters next door to handle matters It's too late, Chen Fan is not in the mood to go there, although it is very close, it takes about ten minutes to walk there.

Sitting on the sofa, I was boringly tuning the TV channels to see if there were any attractive TV programs. At this moment, the phone on the coffee table rang again.

Picking up the phone and looking at it, Chen Fan had a strange expression on his face, but he still answered the phone quickly.

"I'm Chen Fan."

When Chen Fan hung up the phone and put down the phone, scratching his head unconsciously, he didn't expect that Zhang Quan still remembered his original instructions and was still executing them.

But then Chen Fan figured it out. After all, he is a shareholder of Keyuan, and he is actually one of his bosses. Moreover, as a member of the intelligence room for the rice stock transaction, he should also get a lot of money from the company after the transaction. The bonus, I guess I still want to get it in my hands, after all, it seems that I can earn a lot of money working here.

There was no good-looking TV, and Chen Fan didn't want to continue watching it. He got up and went upstairs to the study room, quickly downloaded the information sent by Zhang Quan from his email, and entered the rice stock market system by the way to see the current price of that stock.

72.39 yuan, down 1.6%. This is the stock price trend of Enron Corporation in the United States last trading day. Jim Cheos, a hedge fund manager in York City, questioned Enron's third-quarter financial report, saying he could not see Enron's financial report.

In fact, Jim is definitely not the first fund manager who can't understand Enron's financial report. It's just that no one has said it before. He just acted as the first person to say this in public.

The content of the information is actually very simple. It is a conversation between Jim Cheos and several other fund managers working on Wall Street. Jim said that he could not understand Enron's financial report. It is in a state of high growth, but compared to its huge assets, the return on total assets is pitifully low, only 6%.

In addition, Jim also noticed that in the financial report disclosed by Enron, the financial situation of a large number of projects was omitted, that is, what the financial situation of these projects was, and nothing was mentioned in the report.

Several fund managers present just shook their heads, unable to answer his question.

At this time, Jim began to realize that Enron's problems might be very serious. Afterwards, these fund managers began to ask about the situation and search for information, and at the same time began to sell the Enron stocks they held.

They didn't plan to re-enter Enron stock, even though it was a blue-chip stock, until they determined what caused these problems.

After the Nasdaq market peaked in March, technology stocks in the U.S. stock market continued to fall. However, just like the old saying in Huaguo, "Blowing all the yellow sand, you can start to get gold." In such a bad trend, Mi Among the blue-chip stocks, the trend of the blue-chip stocks has been strong in the past half a year. It is also because of the strength of these blue-chip stocks that the Dow has always remained above 3 points.

I don't know how Zhang Quan obtained their conversation. At least Chen Fan knows that the reason why this stock has been falling recently is that some institutions are selling their stocks, and there are a large number of selling orders in a short period of time. Time is also an imbalance between supply and demand.

However, according to the news obtained by Zhang Quan, although some institutions have already dumped their Enron stock, doubts about the company have only been circulated in the financial circle so far.

In addition, Zhang Quan also specifically mentioned a piece of news that Pacific Gas and Electric Company, the largest power company in the California region of the United States, filed for bankruptcy protection this year because of the major power outage in the California region this year.

The company's main business is electricity and natural gas. It is one of the largest power supply companies in the United States and provides electricity to two-thirds of California. The reason for its bankruptcy is very interesting, because the power in California is extremely tight. Forced to purchase electricity from outside at a high price, it directly caused the company to fall into financial difficulties.

Although there have always been rumors that the power shortage incident was due to the sharp rise in international natural gas prices in the past six months. The company was blinded by short-term profits and resold natural gas and other resources that should have been used for power generation, resulting in power supply problems.

According to Zhang Quan, the electricity purchased by Pacific Electric at a high price was sold by Enron. It seems that Enron plans to acquire Pacific Electric. You must know that Enron is also one of the leaders in the natural gas market in the United States.

However, judging from Pacific Gas and Electric Company's application for bankruptcy protection, there should be no agreement between them, so the company plans to save itself, that is, solve the current problems through bankruptcy reorganization.

It was only at this time that Chen Fan felt that the power market in the United States seemed to be a little pitted, and the water was a little deep.

Originally thought that Enron Company should be a better investment target. At the beginning, I also saw the rise of the company's stock price, but I didn't expect that after half a year, Zhang Quan brought himself a news that this company might have serious financial problems.

At this time, Chen Fan also suddenly remembered, wasn't it very strange when he saw the financial information of Enron Company?

At this time, Chen Fan also gradually remembered that when he first saw the information of Enron Company, he felt that it was very unreal. The growth rate was too fast. It was not like an energy company at all, but a technology company that was growing at a high speed. technology company.

It stands to reason that if revenue and profits increase, the rate of return on total assets should also increase. If the rate of return is low, it can only mean that the company's total assets are also expanding, and the rate of expansion even exceeds the growth of revenue and profits.

But for companies listed in the United States, will the guys on Wall Street fail to find out the reasons for the company's asset growth?
If it is because of investment projects that lead to asset inflation, those guys will not be surprised, then the only remaining explanation is that the balance of loans and transactions is increasing rapidly, and it seems that the company is also concealing the financial status of some of their projects. It's worth remembering.

Why did I believe that the company's financial report was true?

Chen Fan recalled silently, because the audit of their financial report was Arthur Andersen, a world-renowned firm.

By this time, Chen Fan had already begun to doubt Enron's financial problems. There must be something wrong with the company's financial report, but it is still uncertain how big the hole is.

Although he didn't know the future of Enron's stock price, Chen Fan was really not interested in watching it, but at this time, Chen Fan still used his ability to look at it. The bright light exists, and at least a 80% increase means that the company's stock price will increase in the future. It will rise back to [-] yuan again.

With this realization, Chen Fan smiled wryly, and thought about it for a while, and it was true that he was thinking too much.

I usually don’t dare to go short lightly, but now I am concerned about whether other companies have made financial frauds. Even if they are fraudulent, would I still dare to enter the market and sell short positions?

But think about it, it shouldn't be difficult for a blue-chip company in the United States to lend securities.

Forget it, don't think about it, the company's stock price is going to rise back, so shorting it now is tantamount to courting death.

Thinking about telling Zhang Quan before, let him continue to pay attention to the information of Anran Company, Chen Fan shook his head, but he was too lazy to call Zhang Quan to ask him to unfollow Anran.

Continuing to stay at home and live her little life, while having dinner within two days, Liu Ying suddenly asked again: "It's the end of the year, and the Philanthropist Association sent an invitation letter to the company, inviting us to come over, look Or not?"

Hearing that it was another charity dinner, Chen Fan frowned, but before he could speak, the mother next to him answered, "Do you want to donate money? I think it's better to forget it. Don't go, the food is not so delicious of."

When hearing about charity, Chinese people must think of donations. Chen Fan's mother's reaction is not surprising. It's not that she doesn't have good intentions, but that she should think more about the fact that money is not revealed.

Now that the elders of the family already know about Chen Fan's family background, they are delighted but also deeply worried. Although they know that Chen Fan's partners are also related, and his son is not alone, they still can't erase it. Get rid of that worry.

However, unlike what they thought, he knew exactly how Chen Fan went last year. Speaking of which, he really didn’t want to go this year, “Why don’t you let Xie Kai go? It's not interesting, you might as well stay at home."

"It's not enough for you to stay at home for more than half a year. Go out and walk more. It's time to go to work."

Chen's mother hurriedly said that although Chen Fan stayed at home, it seemed to be a good thing to hug the child at ordinary times.

But when his son grows up, he should go out to work, because career is the most important thing.

"The company is managed by the following professional managers. If you want me to care about everything, why should I hire them?"

Chen Fan said nonchalantly, "We just need to visit the company from time to time and keep an eye on the company's funds."

After finishing speaking, everyone continued to eat, and everyone could see that Chen Fan planned to stay at home, and it seemed that half a year's rest was not enough.

"By the way, Miss Ying, Yangzi called me this afternoon. It's what I said last time. I've contacted the school about donating a library to the school. The best local designer in Rongcheng gave me a call. The schematic diagram, but the budget is a bit too high, about 8 million or so."

After Chen Fan had two mouthfuls of food, he suddenly remembered the phone call with Zhang Yang in the afternoon, "The design sketch is still in the computer in the study, I checked it, it's not bad, you can go up and have a look later."

"It's fine if you think it's good. The school library is a little small, so it's good to build another one. Is 2 square meters too small? I see that the libraries of those universities in the imperial capital are tens of thousands of square meters. Since you want to donate, Just don't be stingy."

Liu Ying stopped eating, raised her head and said to Chen Fan.

"That's right, that's your alma mater. It's great to build a library. Don't be stingy, make it bigger, and look grand."

Mama Chen continued, she used to think that the house was enough to live in, but since Chen Fan made a fortune, the houses he bought were bigger and bigger, and he gradually got used to living in it, thinking that the bigger the house, the more room for renovation.

"The estimated area is 2 square meters, which is not too small. The university libraries you know are tens of thousands of 6+ square meters. Most of them are several buildings. There are also single buildings with an area of ​​tens of thousands, but very few. I asked."

Chen Fan laughed. After Zhang Yang called him, Chen Fan told Liu Ying at night. She didn't object. After all, it was her alma mater. She also knew about the problems of the school library. When she was studying, she often couldn't find a place. .

There is too much money now, and she doesn't know how to spend it. Some time ago, she had asked Layton to continue looking for valuable media assets in Europe, and was going to further expand Ikos' media territory in Europe.

It’s just that good assets are not available all the time. Although there are newspapers and TV stations in Europe that sell them, they are not very good. If you want to buy good things, sometimes you really depend on luck. After all, high-quality media assets, stare at There are also many people.

Acquiring a bunch of small newspapers and small TV stations with little influence is actually not as cost-effective as buying an influential newspaper or TV station directly.

"I remember that the open space next to the library is quite big, just the woods."

As soon as Liu Ying continued to speak, Chen Fan waved his hand, "The new library is built in the woods, and the surrounding woods don't move, so the environment is better. You can see the design Cao map, they have seen it on the ground, and the woods are also going to be remodeled." , the trees were transplanted around the old library, roughly speaking, how to put it, like a gourd, with a ring of trees surrounding the two libraries."

"That's fine, I'll look at the picture later."

Liu Ying continued to eat, but quickly raised her head and asked, "Are you planning to go there for the school celebration next year?"

Chen Fan nodded, and then said to his parents: "When the time comes, I will go back to my hometown to have a look. I have been away for so long, and I haven't been back. You should also go there to see. You haven't stayed for a long time. Now you are free. I'm coming down, I'm going to walk around."

"Homecoming?"

Liu Ying asked with a smile.

"Ha, that's what it means. When the time comes, Mom, you should go back together too."

When talking, Chen Fan looked at his parents and Liu Ying's parents, and the meaning was obvious, everyone went back to their hometown for a walk.

As both parents nodded in agreement, Chen Fan smiled, "Eat, eat, the boss will be hungry again in a while."

(End of this chapter)