1928: The Rise of Giants

Chapter 361 Conquer Livermore

April 1929, the 5th year of the Republic of China (19).

730 Fifth Avenue, New York, General Manager's Office, Securities Investment Company, a subsidiary of Livermore Group.

In 1901, the 24-year-old Livermore made big money for the first time. He invested in the stock of the Northern Pacific Railroad. The stock soared, increasing his assets from US$ to US$.

The 1907 San Francisco earthquake caused a major crisis in the financial market. Livermore made a large amount of short selling. This time he made $100 million in one day.

At that time, Livermore's predecessor, financial tycoon John Pierpont Morgan, had to intervene during the crisis to save the New York Stock Exchange.

Morgan even asked Livermore not to continue shorting the market, and he agreed immediately, and then began to go long. As a result, he made a huge profit from the subsequent market rebound, and his personal net worth exceeded US$300 million for the first time.

This was US$1907 million in 300. Livermore, who had just celebrated his thirtieth birthday, became the youngest millionaire in American history.

He could not resist the temptation of money and began to live a luxurious life.

Livermore spent $20 on a yacht, a streetcar, and an apartment on New York's Upper West Side.

He went to private clubs, kept mistresses, indulged in sex, and spent money selflessly.

In 1908, he listened to Teddy Price and went long cotton futures, but the latter quietly went short.

Livermore went bankrupt as a result and ushered in the first low point in his life.

But soon, he relied on his intelligence and understanding of the stock market to earn back his assets.

However, soon after, he suffered another big fall in cotton futures and filed for bankruptcy again in 1915.

After World War I, Livermore quietly monopolized the cotton market. At that time, his only obstacle came from then-President Woodrow Wilson.

At that time, the Secretary of Agriculture called Wilson, hoping to go to the White House to discuss countermeasures to stop Livermore's crazy behavior.

Livermore promised to sell cotton at a break-even price to prevent cotton prices from skyrocketing.

When asked why he wanted to monopolize the cotton market, Livermore replied: "I was just seeing if I could do it, Mr. President."

Yes, this is him, the legendary trader on the New York Stock Exchange and now the helmsman of the Livermore Group with tens of millions of assets, Jesse Livermore.

Because he fell twice in cotton futures, he had to defeat this inner demon.

Unlike those who give up when encountering difficulties, he likes to face difficulties and solve problems that he could not solve before.

This kind of paranoia made him endure hardships, but it also benefited him a lot.

Livermore has always felt that it was this paranoia that allowed him to successfully reach this point.

The encrypted call with Wilson took place in 1918, and that was the first time he felt the charm of being a trust.

In his view, monopolizing the cotton market was just to defeat his inner demons, but it frightened countless financial and economic experts and big bosses, fearing that he would hold it all in his hands and cause cotton prices to skyrocket to terrifying levels.

And this incident has already happened eleven years ago.

At that time, the young man named Ye Luo must have been only twelve years old.

Livermore recalled the past and looked at the report sent by the secretary.

A few days ago, the Federal Reserve conducted a brief investigation into banks' financing from securities firms. The stock market fluctuated slightly. This time the storm was bigger and more foreboding than the one in January.

In the past, Livermore would have quickly invested money to test the head and try short selling on a small scale.

However, after cooperating with Ye Luo, the young man from the far eastern country just shook his head and advised him not to be anxious. This was not a good time. If he just wanted to test his head, the data he had spent half a year on had already been enough, so there was no need to waste any more money.

Livermore resisted the urge to go short.

After all, the two have privately agreed to cooperate, and the funds will be integrated. If he avoids Ye Luo and goes short, such a quarrel will not do them any good.

They are one of the few short sellers in the first place. If they don’t sign up for support, they will definitely be swallowed up by the crazy stock market.

Unexpectedly, only a few days have passed.

What Ye Luo said came true.

The stock market rebounded immediately after a few days of sluggishness, with gains even stronger than in early May.

The capital that chose to withdraw due to the Federal Reserve incident in order to maintain stability suddenly lost a lot of money, and it would cost a lot more money to re-enter, which triggered another heated discussion in the circle.

They generally believe that this bull market is likely to last until the end of the year.

Of course, that's not Livermore's concern.

What he cared about was Ye Luo's extremely accurate judgment.

This made the legendary trader couldn't help but take out Ye Luo's personal information that he had read countless times and continue to study it.

"I thought my life was exciting and amazing enough, but compared with his, it seemed extremely mediocre." Livermore couldn't help but sigh.

The two of them were both young and promising, and they both made great strides in business, making their first pot of gold and making an incredible amount of money.

But it was just like what he recalled.

Livermore encountered several low points in his life and went bankrupt twice.

This is common in business.

No one dares to claim to be a victorious general.

But it just so happens that this young man is it!

So far, he has not suffered any major failure in his life.

It only took him more than a year to create a business empire even larger than the Livermore Group in China, which is smaller in size and development than the United States!

It was just a small thing, but it made Livermore, who was extremely sensitive to numbers, realize that his partner was anything but ordinary.

If you want to succeed in shorting the U.S. stock market, you must work together with him!

"Nina." After Livermore figured it out, he called his young and beautiful female secretary.

The girl with long wavy hair twisted her waist and said respectfully: "Mr. Livermore, is there anything you want me to do?"

"Immediately go to Hongxing United Group and ask Mrs. DeWittbucket for her opinion on today's stock market situation." Livermore did not hide his cooperation with Yelo, but he followed his instructions and declared to the outside world that he was cooperating with Ye Luo. That pregnant widow deal.

Huixin's several appearances at the New York Stock Exchange and her large-scale stock buying and selling had already been frenzied by those in the trading department.

Kardashian even ignited her gossip fire, investigating Huixin's information in various ways, and then bragging to her friends in the bar.

Thanks to the vigorous publicity of Yello and these people, Mrs. DeWitt Bookett, who appeared out of nowhere, has been hotly discussed by New York's upper class society, and no one will doubt her authenticity anymore.

"Yes." Nina picked up the information and walked out, becoming more and more curious about the relationship between her boss and Mrs. Dewitbucket.

(End of this chapter)