Reborn: Billionaire in College

Generally speaking, listed companies repurchase shares for a variety of purposes.

It mainly includes enhancing investor confidence, optimizing capital structure, improving capital utilization efficiency, market value management, etc.

What Renren is doing now is undoubtedly declaring war on the short sellers.

If you want to be tough, then I will stick with you to the end.

At the same time, it is also a message to the majority of investors: Brothers, don't be scared by these big shorts. We at Renren are very optimistic about our company. Follow us and buy. The current stock price is definitely not the end of Renren!

As market sentiment heats up, bears have to temporarily take shelter.

In the end, by the end of the day, Renren's stock price rose 5.3% to close at $161.10. Although it failed to recover the shares lost the previous day, it successfully stopped the decline and partially resolved today's short-selling offensive.

After the market closed, Chen Pingjiang breathed a sigh of relief. "That's all for today. Everyone go back and have a good rest. This battle won't be over in one day."

The battle between bulls and bears will not end in a day or two.

When it will end depends on whether Renren's stock price collapses to the psychological expectations of the short sellers, or whether Renren's stock price can rise against the trend.

Guan Yifeng came over at this time and asked with concern: "Director Chen, President Li, I asked the chefs in the kitchen to prepare some midnight snacks. Can you eat them as breakfast before you rest?"

Chen Pingjiang waved his hands, looking a little tired: "You guys eat, I'm going to go back and catch up on some sleep. I've been out for almost thirty hours."

Li Xi also nodded: "I'll go back and take a shower, change clothes, and then rush back."

Logically speaking, Chen Pingjiang is still young, and it is not a big problem for him to stay up late occasionally and not sleep for more than thirty hours.

But the problem is that the pressure in the battle between bulls and bears is too great.

Every transaction must be carefully considered, and every good news must be released at the right time. Add to that the constant attack from the opponent, which leaves no breathing space, and how can the psychological pressure not be great?
This is more exciting than gambling. In Macau, you can win or lose tens of millions in one night playing cards, while in the stock market, you can win or lose billions of dollars in one night.

"Mr. Chen, we're home."

Li Fu shouted several times before he woke Chen Pingjiang up.

"Huh? You're here so soon."

"You fell asleep."

"Oh, sorry to bother you. You should go back and rest early."

After explaining everything to Li Fu, Chen Pingjiang went straight into the villa and went back to rest without disturbing anyone.

I didn't wake up until noon the next day, and when I went downstairs, I unexpectedly saw Yan Yan.

She took off her usual professional suit and put on a white T-shirt and jeans, looking just like when they first met.

Yan Yan, who was chatting with Xu Fangjuan, saw Chen Pingjiang coming downstairs and smiled sweetly: "Are you hungry?"

Seeing Yan Yan, Chen Pingjiang's heart moved. Today was a working day, and she obviously didn't go to the company wearing this dress. She probably came here specially.

Chen Pingjiang smiled and said, "I am a little hungry."

Seeing the tired look on Chen Pingjiang's face, Xu Fangjuan said with some concern: "I've heard about it. Although I don't understand stocks, I've heard that it's normal for stocks to fluctuate. Don't put too much pressure on yourself. You've already earned more money than an ordinary person could spend in dozens of lifetimes."

Sometimes, a mother’s nagging can really make people feel warm inside.

Chen Pingjiang made a face and said, "Why should I be stressed? Those guys I beat up last night are in a state of panic. Let's eat quickly. My stomach is growling with hunger."

After dinner, when Chen Pingjiang was stretching, Yan Yan smiled and said, "I'll take you somewhere this afternoon. It won't interfere with your work."

Chen Pingjiang nodded and asked curiously, "Where are we going?"

"Let's go, we'll know when we get there."

About half an hour later, Chen Pingjiang looked at Yan Yan with some emotion and amusement: "Just bring me to see this."

Yan Yan thought Chen Pingjiang didn't like it, and said at a loss: "Ah, didn't you say before that you would come to ride the Ferris wheel when you were in a bad mood?"

"No, I like it very much. Let's go." Chen Pingjiang took Yan Yan's smooth and cold little hand and walked towards the Ferris wheel, feeling a smile in his heart.

This girl is so talented.

Yan Yan, who has never been in a relationship, actually has no idea how to please a man. She can only accompany him silently and do things that she thinks will make the other person happy.

Just like years ago.

She always seems to be contributing silently behind the scenes, doing things according to her heart without asking for anything.

Sometimes it may look silly, but it is an expression of the most sincere emotions.

Just like when Chen Pingjiang got drunk, the two of them didn't have any relationship at that time, she would stay up all night silently and stay by Chen Pingjiang's side.

She is still the same.

Chen Pingjiang never feels any pressure when getting along with Yan Yan.

She doesn’t have Cong Nini’s ability to act coquettishly and be liked, nor does she have Ge Mengshi’s tenderness and affection, nor does she have Zhang Xinyue’s willful pride…

But, so what?
She is just her, her name is Yan Yan.

The small sedan finally reached the top as it swayed. Unlike the last time when they sat face to face, this time they sat in each other's arms. Yan Yan leaned on Chen Pingjiang's shoulder, staring at her beloved's profile and the blue sky outside the window.

…………

At four o'clock in the afternoon, Chen Pingjiang reappeared at Renren headquarters in high spirits.

Seeing Li Xi, who looked tired, he reached out and patted his shoulder: "Why did you come so late? You don't look like you haven't slept at all, do you?"

Li Xi's secretary Liu Yu nodded, "Yes, Mr. Chen, Mr. Li went back to take a shower and then came back because he still had some daily affairs of the group to deal with during the day."

"Don't stay up all night, it's not a big deal."

Li Xi disagreed: "I'm young and it's okay. I can just take a nap in the lounge after get off work. The market won't open until 9:."

"Okay." Chen Pingjiang stopped trying to persuade him, seeing that he had no reaction. He was a stubborn guy anyway. "Let's have a meeting."

It’s still the same office, and Bu Housheng is still online.

It was also difficult for Bu Housheng. He took a nap after the market closed yesterday afternoon, got up on time to watch the financial program in the evening, and slept for a few hours after the program ended. Now he has to attend the Renren.com board meeting in China.

In principle, Bu Housheng is not affiliated with Renren.com. He is just the head of Chen Pingjiang's private company Tianyuan Capital, but who says the boss is Chen Pingjiang?

"I tuned into several TV stations last night, and without exception, every program was pessimistic, and the views expressed were all similar. That is, Renren's repurchase action can only temporarily maintain the share price, and in the long run, it cannot guarantee that Renren's share price will not fall."

Chen Pingjiang nodded and turned to Guan Yifeng: "Has the program been recorded?" Guan Yifeng quickly said: "It has been recorded and translated, and it can be played now."

“Is there any on CNBC’s Mad Money?”

"Yes, I'll find it right away."

A moment later, the show was projected on the big screen.

After just a moment's glance, everyone in the meeting room looked unhappy.

According to the financial host, Renren's stock meets almost all the target conditions for short selling.

1. The bigger the past increase, the better. A stock that has risen rapidly can often fall rapidly. [√]

Second, it is best to be the leader in the past bull market. If there are a large number of institutional holdings, there will be a lot of selling pressure in the later stage. [√]

100. The trading volume should reach at least million shares per day on average. Do not short sell stocks with insufficient liquidity, as it is easy to rebound sharply and cause losses. [√]

4. The smoother the rise in the past, the better. It is best not to have a large consolidation range, which will form a support line and hinder the decline. [√]

5. It is best not to short sell stocks in strong sectors, but to short sell weak stocks in weak sectors. [√]

"Change the channel."

"Okay, Mr. Chen, this is PBS's Nightly Business Report. They invited Carson Block, the head of Muddy Waters, which published the Renren short report, to last night's show."

Chen Pingjiang became interested as soon as he heard it.

Carson Block on TV was dressed in a shiny suit and spitting with confidence: "Believe me, the stock price of Renren is bound to plummet. We have already talked about too many internal reasons of Renren, and there are also external reasons."

"Everyone knows that the U.S. stock market was extremely unstable in 2011. The turmoil in Libya in February, the Fukushima nuclear power plant leak in Japan in March, the U.S. debt ceiling crisis and the downgrade of the U.S. sovereign rating in August, and the escalating European debt crisis all frequently impacted the U.S. financial market. Since the U.S. stock market experienced a series of violent fluctuations in August, there has been no decent rebound until now, but it has maintained a violent fluctuation trend. After the VIX suddenly jumped from around 2 to around 3, it maintained a high volatility for nearly four months."

“10年期美债名义收益率最低曾降至1.72%，较年初高点的3.75%，下降了54%。10年期美债实际收益率由年初高点的1.08%最低降至8月份的-0.13%。”

The host then asked: "Carson, even elementary school students know that when the yield on U.S. Treasury bonds decreases, funds will flow into the stock market, so it is a bull market now. Is there anything wrong with that?"

Carson Block shook his head: "Believe me, Jenny, the bull market has lasted long enough, and the bear market is coming. The U.S. Treasury yields have dropped so much, will the government not take action?"

……

After the program was over, Chen Pingjiang turned his gaze to Bu Housheng on the other side of the screen, "Old Bu, what do you think? Do you think he is right?"

Bu Housheng thought about it, and finally said in a deep voice: "It cannot be refuted, it is still possible."

Chen Pingjiang sighed and nodded: "The other party has obviously done his homework and is well prepared."

In 2011, the performance of global stock markets was not good. The US stock market was affected by the European debt crisis and the slowdown of the domestic economic recovery. The trend remained volatile throughout the year. The three major stock indexes basically stagnated after a year of tossing. The Dow Jones Industrial Average rose by 2011% in 6.13, the best performance, the S&P rose slightly by 0.43%, and the technology stocks performed poorly, with the Nasdaq falling by 1.48%. The performance of Chinese concept stocks listed in the United States was extremely tragic this year. In March 2011, the US stock market launched the US China Concept 3 Index to track Chinese concept stocks listed in the United States. In 30, the index fell by 2011%.

In addition, the market was also affected by many factors such as natural disasters, trade scandals, sharp fluctuations in commodity prices, and the Arab Spring, making the European and Asian markets extremely bleak.

英国FTSE 100指数年跌5.6%，德国DAX跌14.7%，法国CAC 40跌18%，中国上证综指年跌21%，香港恒生指数跌19.7%。新加坡海峡时报指数跌17.5%。澳大利亚标普ASX 200跌14.5%，韩国Kospi跌11%。

Everyone can see that the overall environment is not good.

This is also the insidious part of Carson Block, using objective facts to scare people.

It is like shouting to stockholders, "The bear market is coming, why don't you run away quickly? Chinese stocks have fallen so much, why buy them? Believe it or not, the same is true for Renren stock."

After the meeting, Chen Pingjiang kept thinking that other means were needed today to combat the downward pressure on the stock price.

Of course, because of Renren’s repurchase plan yesterday, the downward pressure is not that great.

After thinking about it, he took out his Twitter and Facebook accounts that he had not used for a long time.

I still have to have a channel to speak out, otherwise due to the time difference and channel issues, it would be a big deal to just let those people talk nonsense.

Just imagine, would this be a problem in China?
Chen Pingjiang relies on Weibo and Renren to spread the information by simply sending a message.

After a little experimentation with the account password, Chen Pingjiang successfully logged into Facebook and Twitter. These two accounts were registered during his last trip to the United States.

At that time, Tianyuan Capital had just invested in Twitter and Renren had just started cooperating with Facebook.

I checked and found out that the two accounts were still marked with blue marks even though they had not been used for such a long time.

After thinking about it, Chen Pingjiang posted two blog posts in succession.

[Carson Block's performance on TV is terrible. It's unbelievable. Did this guy never graduate from college?]

[The biggest short burning operation of the century is coming, and the flamethrowers are about to arrive. @卡森Ｂ洛克 @ＥＩＮＤＯＶＩ, I have sent a box of shorts to each of you, put them on and tell me how it goes. ]

In English, both shorts and shorts are called Short, which is almost disgusting.

Of course, the shorts were torn.

This is almost a war of words.

These American short sellers like to use Twitter to express their views and stir up public opinion.

This trick is what Chen Pingjiang used.

That morning, Chen Pingjiang called Twitter and Facebook directly and asked them to direct traffic to his account so that more people could see it.

Of course, both parties would not refuse.

Twitter is currently cooperating very happily with Renren, and makes a lot of money every year from the social games provided by Renren.

Besides, Twitter can’t afford to offend its second largest shareholder.

Starting at 8 a.m., Chen Pingjiang's account was prominently listed on the homepages of Twitter and Facebook.

Afraid that foreigners didn’t know Chen Pingjiang’s identity.

The introduction column also reads: Chairman of Renren, Chairman of Orange, Chairman of Renrengou, and the richest man in China.

The number of Chen Pingjiang's fans was increasing at a speed visible to the naked eye.

Carson Block woke up early and opened Twitter as usual, and saw the @ himself message, and then he saw the tweet in which Chen Pingjiang criticized him.

[Carson Block's performance on TV is terrible. It's unbelievable. Did this guy never graduate from college?]

Carson Block was so angry that he yelled, "Shit! You rude guy!" (End of this chapter)