legendary trader

Chapter 849 The outbreak of the 850 incident
Considering the possible debt trap of Enron Company, Chen Fan felt that Zhang Quan's worry was not wrong. There was no need to make a decision to enter the market without knowing it. Made enemies.

In fact, debt is one of the main factors, and there is a bigger hidden danger, which Chen Fan did not mention, because this hidden danger is just speculation.

In short, Chen Fan, who was sitting on the bed at the moment, had decided to wait until later, and would never take the acquisition action lightly.

By this time, Chen Fan couldn't sleep anymore, so he got up and took a shower.

In the afternoon, due to the phone call in the morning, Chen Fan felt a little restless, so he simply called Zheng Xiaopang, intending to ask Fatty for his opinion.

"The market is closing here. I'll contact you after the market closes. Are you in the courtyard or the Baorun Garden?"

Zheng Xiaopang said a few perfunctory words over there, and directly asked Chen Fan what was the matter. After knowing the reason, he said, and then hung up the phone first.

Chen Fan looked at the time. Indeed, at around 2:50 p.m., the Shenzheng market was about to close. It is estimated that Zheng Xiaopang should still be building positions at this time because the stock price of Maojian shares has weakened during this period.

Chen Fan sat on the sofa and shook his head, and didn't bother to go to the study to watch the domestic stock market.

At 3 o'clock, the stock market trading has ended, but Zheng Xiaopang has not called for a long time, and I don't know if the fat man has forgotten himself.

Chen Fan didn't bother to call right now, so he sat on the sofa in the living room for a while.

At around 4 o'clock in the afternoon, Zheng Xiaopang suddenly wandered in from the door, opened his mouth and said, "Is Baorun not good? I think it's good to live there."

"Yeah? You came over directly."

It was only then that Chen Fan realized that Zheng Xiaopang probably came here directly after the stock market closed. He came from Baorun Garden, and it would take more than an hour if there was no traffic jam.

"Tell me, why do you want to buy Enron? I checked it when I came here, and the stock has fallen so badly that you are shorting it yourself."

Zheng Xiaopang sat down beside Chen Fan and asked.

Therefore, Chen Fan told Zheng Xiaopang all the things he had in his hands. Although Zheng Xiaopang knew that they were shorting 4 million shares of Enron's stock, he didn't care about it. He still focused on operating Maojian shares. , who has the leisure to watch An Ran, not to mention that the trading time of that thing is still at night.

Now Zheng Xiaopang is a bit far away from being an Omi market. He really can't afford it. He is already married. It's time to hug his wife and play happily in the warm bed. Who the hell is willing to hang out with a few old men? look at the computer.

"Since you are worried, don't think about it, just give up."

After listening to Chen Fan's words, Zheng Xiaopang thought for a while and said, "It seems that this company has a lot of problems, maybe there are still many undisclosed debts, why buy it?

If someone is really manipulating all this behind the scenes, you will steal their cake when you enter the market, and you want to buy it, and it will be impossible to hide it when the time comes. ,

Before we operated, we could still hide our face, but you became a major shareholder, and you were afraid that people would not find out about you, so forget it. "

After listening to Chen Fan's words, Zheng Xiaopang knew what he was thinking, and he told him what he was worried about. Did he still tell him that it doesn't matter, just do it when he thinks?
"I also have the idea of ​​giving up, but I am a little unwilling to think of such a cheap top 5."

Chen Fan smacked his lips and said.

"Top 5, that was last year. This year may have been 5 hundred loss companies, that is to say, Fortune magazine did not select the world's top 5 loss companies, but don't you have a media company? Why don't you just make such a selection, The companies with the heaviest losses every year in the world will make a list of the world's top 5 losers."

Zheng Xiaopang started talking nonsense while talking, "Look, there is Rotten Tomatoes in the United States. Although it is not a serious award, they have persisted. You pay for a new list, and the United States plays 5. Top 5, you can do 5 hundred losses, or [-] hundred mistakes, anyway, that’s what it means, to attract attention and increase the sales of your newspaper.”

In the evening, because he knew that there might be a big shock in Enron today, Zheng Xiaopang didn't go back at all, and followed Chen Fan directly to Oak Capital to watch the excitement.

At 9 o'clock in the evening, the opening price of Enron's stock price came out as expected. It directly opened lower at 8.79 yuan, and it fell 12.9% at the opening.

After the market officially opened for trading, Enron's stock price continued to slide, and there was no rebound trend due to the sharply lower opening. Soon the stock price fell below 8.5 yuan.

Due to the continuous plunge of Enron's stock price, the Dow was naturally also affected, and it has been showing a red plate state.

In fact, nearly half a year later, the trend of the Dow has always been affected by the stock price of Enron, and it has gone out of a trend of slowly oscillating and rising. If Enron is excluded, the trend will be much stronger, but there is no way, Enron is a component of the Dow 30. Although the stock price is weakening now, it cannot be removed from the constituent stocks because of this.

However, Enron's stock price fell to around 8.3 yuan this time, and it naturally stopped falling, and there was still no trading volume released, but the selling orders may have decreased significantly because of reluctance to sell. The market has gradually formed a balance, which can be regarded as a temporary stop.

Falling to the current price, today's intraday drop is already very scary, reaching a 17% drop, no matter who is an investor, it will be heartache.

Enron's stock price shrank sideways at a low level, while the entire rice stock market began to pick up gradually. It slowly got rid of the impact of the decline in Enron's stock price, and the index began to rise slowly.

"No one came in."

Zheng Xiaopang said to Chen Fan from the side.

Because of Chen Fan's speculation before, Zheng Xiaopang still hoped that there would be a fight between dragons and tigers on the Enron board today, with crazy sell orders and buy orders entering the field to fight, but seeing that there was nothing now, he couldn't help but feel a little boring.

"Mr. Chen, should we sell some stocks now, smashing Enron's stock price below 8 yuan, causing panic, and then we can take some stocks back."

At this time, Lin Hong suddenly whispered.

Now that Enron's stock price has fallen, Lin Hong also feels that the room for further decline has become very small, and it will be worthless if it falls any further, so he thinks carefully and thinks that now he can start to slowly buy back the stock to close the position and leave the market.

At this moment, Chen Fan was still wondering why Enron's market was so flat today. Could it be that his feeling was wrong, no one was interested in Enron's stock?
Hearing Lin Hong's words suddenly, he understood that Enron's stock price had fallen to near Lin Hong's psychological price, so he began to suggest buying back the stock to close the position.

However, seeing the current market performance, Chen Fan still shook his head and did not agree, "Let's look again, it doesn't mean that the Knicks Fund is also short-selling, the market does not lack our strength."

Chen Fan doesn't plan to short any more. The current price should not be far from the bottom of the stock price, that is, there is no huge selling order at the moment, otherwise Chen Fan might start to close his positions again.

Thinking of the 2 million shares that he asked to liquidate before, and looking at the current price, Chen Fan turned his head to look at Zheng Xiaopang who was bored, "Little Pang, buddy lost 2 million yuan on this stock." .”

"Huh? What's the matter?"

Zheng Xiaopang regained his energy. He heard that Chen Fan had lost money, but he immediately thought that he was lying to a fool.

"I bought 17 million shares for 2 yuan, and you can calculate the current price yourself."

Chen Fan continued.

"Really?"

Zheng Xiaopang only knew that Chen Fan had shorted 4 million shares of Enron stock, but he didn't know that he had covered half of his position. Hearing the news now, he looked at Lin Hong and saw that he didn't respond, so he believed it. up.

"Trash, idiot, so impatient."

Zheng Xiaopang scolded with a smile.

"Listen to Shu Tan, my brother is sad now."

Chen Fan laughed.

"Why didn't Zhang Quan come over when there was such a commotion?"

At this time, Chen Fan suddenly thought of Zhang Quan. Usually when something important happens, Zhang Quan is sitting in Zheng Xiaopang's seat.

It's strange to say that I didn't see anyone else when I came here today, and I don't know what I'm doing.

But no one answered, who knows?
Although it didn't mean that Cao Cao Cao Cao had arrived, it was true that after more than ten minutes, Zhang Quan came over in a hurry.

I was a little dumbfounded when I entered the door, because my seat seemed to be taken by a fat man, and if I looked carefully, it was Mr. Zheng.

Zhang Quan pulled a chair from the side and sat behind Chen Fan and Zheng Xiaopang, "Mr. Chen, Mr. Zheng, I didn't expect you to come here today."

"Nothing, just come and have a look, I thought there was a good show to watch."

Zheng Xiaopang and Zhang Quan were also very acquainted, so they replied casually.

"Is there any breaking news again?"

Chen Fan turned around and asked.

"Almost, the US Securities and Exchange Commission has officially notified Enron, requiring Enron to disclose all the contract texts with LJM Capital Management and the two trust funds. They are finally going to investigate Enron."

When Zhang Quan came, he immediately dropped a blockbuster.

Previously, Enron temporarily suppressed the SEC through the relationship with Peanutton, making them give up their previous plan to investigate Enron. Now that Enron's problems have been revealed by name and surname, it is naturally impossible for the SEC to continue pretending to turn a blind eye.

"Straight past their committee?"

Chen Fan was slightly surprised when he heard the news. He knew that Enron might face a more dangerous situation this time than before.

At that time, in fact, the investigation was a lot of trouble, because there was no clue, only the speculation in the report that there must be tricks between Enron and its affiliated companies, but it did not point out which companies.

For a behemoth like Enron, no matter how many affiliates it has, even if the SEC takes action at that time, there will be no results in a short while.

But this time is different. The two media provided two clues respectively, and it is easy to find out if there is a problem.

"Conference call, quick pass."

Zhang Quan only said, "The fax from the SEC should have been sent by this time."

"We don't need to do anything, Enron's stock price will fall by itself later."

Chen Fan smiled and said to Lin Hong beside him.

There is no confidential news in the stock market. It is estimated that this matter has already spread among institutions with a little channel around the world at this moment, and there is no way to hide it.

Whether those institutions will liquidate the last bit of Enron stock in their hands depends on the performance of the market for a while.

"Now that it's come to this point, it seems that Enron's company is really doomed, and it seems that no one will save it."

Chen Fan suddenly said again.

"Unless Enron releases all of its financial information so that all institutional investors can clearly see Enron's real financial situation, maybe someone will take action."

Zheng Xiaopang said suddenly, looking at Chen Fan while speaking.

Chen Fan shook his head and smiled, "I won't think about it at this time."

Afterwards, the trend was similar to what they said. Enron’s stock price was consolidating at 8.3 yuan for a long time, and once rebounded to around 8.6 yuan during the day. However, when the market closed for more than an hour, Enron’s stock price began to fall slowly.

Another downtrend all the way, seems to be to trap investors who entered the market today to pick up bargains. In the end, Enron's stock price closed at the lowest price of 8.01 yuan throughout the day.

Although it didn't fall below 8 yuan, it didn't run away after the 20% drop in the whole day, and all the investors who bought Enron's stock today were caught, and no one was spared.

After the rice stock market closed, the news that Enron was investigated by the US Securities and Exchange Commission also began to be fully reported, and it was soon known to people in the market.

When Enron's stock price continued to fall before, it was only due to the influence of rumors on the Internet, and of course some media fueled it, but now, after Enron's stock price has fallen below 10 yuan, the U.S. Securities Regulatory Department finally issued a voice, demanding An investigation into possible illegal transactions at Enron has begun.

But the very interesting part is also here. Chen Fan received a message from Zhang Quan on Thursday afternoon, summarizing the latest news reports about Enron from the United States. Chen Fan actually noticed that in many media and financial programs, more attention The focus is not on Enron's possible concealment of the truth and financial fraud, but on whether those contracts are legal and Andersen accounting firm.

According to the final conclusion, it is not illegal for Enron to sign this type of contract, nor is it a violation of regulations, and it belongs to the scope of normal contracts.

And according to many experts and analysts, such contracts actually exist in many listed companies in the United States.

However, judging from the information released by the media at present, there are obviously serious problems in Enron's financial processing, and these problems have not been discovered by the auditors of Arthur Andersen.

From this, Chen Fan also made it clear that after such a long period of influence, most people have actually accepted the fact that Enron's financial fraud is true, but they still don't know much about the details, especially how to evade the security policy set up by the US Securities Regulatory Department. Multiple layers of regulation.

In particular, the issue of Andersen's office can be said to have attracted the attention of many Americans this evening.

It is unbelievable that a world-renowned accounting firm could make such a serious mistake.

At the end of the report, there is a paragraph separately listed by Zhang Quan, predicting that there may be a turmoil in the US stock market in the near future. All listed companies issued by Andersen & Co. may face short-term selling pressure.

(End of this chapter)