Wall Street Financial Truth

Chapter 2 Prologue Opens Wall Street's "hornet's nest" (2)
Cruel game on Wall Street, hope is around the corner
It was only after I entered Wall Street that I realized that mediocrity is never raised there, not to mention the long working hours, and the pressure is extremely high.Assigned tasks must be delivered on time, and it is my business to work overtime.What's more, for the sake of the beautiful profit figures in the annual report column, the company has to conduct a performance evaluation at the end of each year, the survival of the fittest, and the bottom 5.00% to [-]% of the people have to pack up and leave.So everyone clamped their tails and worked hard.It is an exaggeration to say that when you work on Wall Street, you can forget your way home, but you must memorize the phone numbers of headhunters, because you may need them at any time.

I have seen many colleagues get promotion, salary increase, and job-hopping, mostly at the expense of family life, and some colleagues simply stay single in order to avoid the troubles caused by marriage and divorce.This is why there are so many high-end clubs on Wall Street, where world-class beauties gather, and they accompany the elites to relieve pressure with professional ethics.I am lucky to have a wife who understands me and loves me to share the pressure for me and be a good logistics manager.

At that time, we rented a small attic on the third floor of an old bungalow in the city.The attic is triangular, and I can only stand up straight in the middle; when I walk, the floorboards "creak" with my steps, and the cockroaches "dance happily" on the side.It’s okay in winter, there is sufficient heating in the attic; but in summer, it suffers, the sun makes the small attic look like a big oven, and there is no air conditioner, I often wake up in the middle of the night sweating, and I get up to change it and get soaked. Sheets and undershirt, and then continue to sleep.

I couldn't bear it, so I suggested to me one day: "Most of my colleagues live in big villas in the suburbs, with big gardens in the front and back. You like flowers and plants, why not..." Xiaoling playfully interrupted me: "It's a bit small to live in an apartment. , but I can still grow flowers and cook, and the time you save is invaluable. If you save two hours on the commute to work, it will be more than ten hours a week. We can take walks, watch movies, visit bookstores, visit museums, Watching Broadway musicals, being in a good mood is more important than anything else. In the past, there were no conditions, but now the opportunity is a gift from God. There is no reason for us not to enjoy it. A small apartment is much better than before, isn’t it?”

Even though Xiao Ling is so considerate, working on Wall Street makes my life full of unpredictability.One second before I might be thrown high into the sky, enjoying the joy of overcoming difficulties; a second later I might fall to the bottom, suffering from the frustration of overwork.However, what Xiaoling "shares" with me is often my troubles after encountering setbacks.

Once, to solve the parameter problem in the model, I didn't make any progress for several weeks. I was very irritable, and I was afraid that I would be fired if I couldn't solve the problem.Xiaoling saw it, she couldn't help me with anything, she could only take good care of me in life.

I remember that when I came home from get off work that day, I was so exhausted that I dropped my briefcase and fell over when I saw the bed.In a daze, I seemed to have found the answer to the question, and happily explored along the line of thought, but unfortunately, I was interrupted by Xiaoling's soft calling.

I was so anxious that I jumped up from the bed and yelled loudly: "What's the matter, you still let people live, what's your name when you just fell asleep?"

It could be seen that Xiaoling's face was full of grievances, she wanted me to eat something, take a hot bath and have a good sleep, who knew that my thoughts in the dream were interrupted.But she understood that my losing my temper was definitely not directed at her, but because I was irritable because I couldn't solve the problem.She also understands that Wall Street never raises mediocrity, so don't even think about occupying the latrine.

Despite Xiaoling's understanding and cooperation, I never had to worry about working overtime. I performed very well in the company, and the promotion and salary increase went smoothly, but I still did not escape the wave of layoffs. After the 9 incident, Wall Street was in a downturn, and there were many layoffs. I also experienced a big layoff!

In October 2002, the company I worked for was merged by Sun Gard (Xin Jia Company), and I went to work as usual that day.Walking into the office, I was shocked to see countless empty computer boxes piled up on the floor.As soon as I sat down, I heard the phone ring one after another in the hall.Suddenly, the bell on my desk rang, my blood froze, and I mechanically grabbed the receiver.It is to inform us to go to a meeting!The company laid off 10% of its workforce that day, and I wasn't on the list.At that moment I felt like a survivor of a disaster.

After returning home, I happily said to Xiaoling: "I'm so lucky, I'm not included in today's layoff list." Am I really that lucky?actually not.I survived the first day of the junior high school but not the fifteenth day. Two months later, my department was mercilessly taken over, which caught people off guard.

A minute or even a second ago, I was still a white-collar worker with a high salary, and I became a vagrant in an instant. This kind of psychological gap is far beyond what ordinary people can bear, as if the sky is falling.Many colleagues sent packed boxes to friends' homes, afraid to let their family members know that they were fired.

I was so panicked that I called the headhunter first on the way home, and then I couldn't help but dial the number at home.Xiaoling had just registered for the next semester's class this morning, and she felt bad when she heard my deep voice.As soon as I finished speaking, I heard Xiaoling say: "Come back, let's talk about it after we get home. It doesn't matter. If we don't have a job, let's look for it again. Maybe there will be a better one."

Xiaoling's calm voice warmed my lost and cold heart.Unexpectedly, as soon as I entered the house, the smell of chicken soup wafted from the kitchen. It is my favorite, and there must be ham in it.

Seeing me, Xiaoling smiled and said, "Don't think about anything, come and eat, it's all your favorite food."

I saw it, didn't I?There are also minced meat in tomato sauce, garlic bean sprouts, and large pieces of braised pork on the table.It was beyond my expectation, so I said: "It's such a time, how can I have an appetite?"

Xiao Ling was putting the dishes and chopsticks on, and what she said next was beyond my expectation: "I haven't seen you eating a meal in peace since I went to work, now it's all over, no one is watching behind you, it's rare for us to be together 24 hours a day, so Take every minute and enjoy it. No big deal, what did we have when we first came here, except four suitcases? Now you have a high degree, a lot of work experience, and so many finance courses , believe you, there will be jobs, and there will be bread. Come on!"

My nose was a little sore, like a wronged child who could not shed a tear in the face of humiliation, but could not withstand the comfort and comfort of relatives.It feels great to have a home, no wonder Americans often say: 'There's no place like home.' (Home is the warmest safe haven, irreplaceable)
I swallowed my tears, took Xiaoling's hand to hold the bowl and chopsticks and said, "No. When we first came, apart from four boxes, I also had a good wife. She surpassed ten thousand hectares of fertile land."

Because of Xiaoling's kindness and encouragement, amidst the sound of layoffs and fierce competition, I found a new job in two months and fourteen days.Not only the position is high, but the salary is also high. This is really a "miracle" when Wall Street is in recession.I have learned that in life we ​​often face difficulties and sometimes feel cornered.However, as long as the family is happy and there is love in the heart, let go of the burden and persevere, in fact, hope is just around the corner!
Don't be a "meat grinder" on Wall Street, take up the weapon of defense

At the beginning, I wanted to enter Wall Street with all my heart, just to prove my ability, to develop my talents, and to make a career.So I can tolerate the harsh rules of the game, and I can tolerate the cruelty of layoffs.I naively thought that it was a kind of fiduciary responsibility for the company to be responsible to shareholders.As my position got higher and higher, the business I was exposed to became wider and wider, and I witnessed and heard more and more fraudulent activities, my heart became heavier and heavier.

One weekend afternoon, I accompanied Xiaoling to a bookstore in Manhattan, and a book caught my eye——Meat on Wall Street: I Survived the Meat Grinder.I picked it up and flipped it over. The author, Andy Kessler, has a background similar to mine, and he also came from computer software. Because of this background, he entered Wall Street as an analyst in the semiconductor industry, and because he saw through the ugliness of Wall Street. leave in anger.He told a story about Microsoft manipulating its stock price:

Once, Microsoft wanted to set the price for the allotment of shares for employees, so it held an analyst meeting and persuaded the analysts to lower Microsoft's rating: "At the meeting, President Jon Shirley said: 'I want to make a profit forecast for everyone. To express my opinion, some analysts here have estimated estimates that are too high—I won’t name names, you know who I’m talking about, and they should be revised downwards.’” For their own benefit, how dare analysts offend Microsoft, Can only obey unconditionally.As a result, Microsoft's stock price fell 4.5% that day. "I got up to go to the bathroom, and when I came out of the conference room, Bill Gates and Jon Shelly were standing there laughing so hard, I heard Gates say, 'It's a lie, it's so much fun.'" Oh my God!Gates is my idol, and "they" are playing the market like a puppet.I feel that I am too stupid. I have encountered many similar incidents in Wall Street for more than ten years, such as designing trading models to help rich people evade taxes, and using financial leverage to collect money.

The story described by Kessler made me wake up from a dream. He bravely and boldly exposed the ugliness and greed of Wall Street, and further confirmed the feeling that I have been unable to explain and understand for a long time-to deceive the public for huge profits. A few rich people make money.

Wall Street is not the place for me to do my business, and I suddenly thought of quitting.

But I am a little worried, is Xiaoling's thinking consistent with mine?From my breaking into Wall Street, experiencing countless ups and downs on the "street", to being promoted to the position of vice president of the bank with great difficulty, and earning a high salary, Xiaoling has contributed to everything.I give up as soon as I say no, can she understand?

How can my mental journey and inner struggle be hidden from Xiaoling's eyes.She asked me, "Why are you so preoccupied recently?"

I thought for a while and said: "I recently read a book that said, 'In the Wall Street stock market, on one side are the devil-like elites with high IQs, and on the other side are countless stupid individual investors, that is, 'retail investors'. If you don’t understand securities investment, who will you kill if you don’t kill them? Individual investors always wait until the stock price rises before chasing up and buying, and then complain about the stock price falling; It will rise again, and I will blame you when the price falls.' These words are said by the author Kessler, but they are indeed true. Even if retail investors learn to invest in securities, it is useless because information is seriously asymmetric, just like playing mahjong , you can see all the cards in your hand against your opponent, do you think you can win?"

Seeing that Xiao Ling looked at me and said nothing, I borrowed Kessler's words: "In Wall Street, no matter what kind of job you do...it has no meaning! You are just a cog, a pawn, a soldier... at best A piece of meat on Wall Street. Everyone is just a piece of meat on Wall Street, and 'they' squeeze the fat out of us and use it as the oil that keeps the market smooth and efficient, and everyone makes a profit. But, Everyone is also ready to be replaced. Once you're drained...'"

Before I finished speaking, Xiaoling said with a secretive expression: "I know, that Kessler also said that, I flipped through the book, since you are so unhappy, I have a Way, I don’t know if you will listen to it or not?”

I asked anxiously: "Do you have any good ideas, tell me and listen."

Xiaoling said: "Just modify the American catchphrase."

I asked: "What mantra, please say it quickly."

Xiaoling said word by word: 'If you can't beat them, leave them.' (If you can't beat them, leave them)

Americans like to say 'If you can't beat them, join them.' (If you can't beat them, join them).Xiaoling changed 'join' (join) to 'leave' (leave).After listening to Xiaoling's words, I was taken aback for a moment, and then laughed with relief.Xiaoling is so indifferent to fame and fortune, I let go of my hanging heart, how can I not let go?

Seeing that Xiaoling was inexplicably laughed at by me, I quickly explained: "We have a heart-to-heart connection. It's really 'knowing me is like a wife'!" appropriate.I am so fortunate to have my beloved wife, Xiao Ling, as my companion throughout my life.

After awakening, I resolutely left "them", picked up the pen in my hand, and exposed the ugliness and greed of Wall Street. No matter how weak my voice is, someone will always hear it.

This book is an elaborate work that reveals the truth and inside story of Wall Street finance. More importantly, it tells the majority of Chinese investors to see the face of Wall Street, and provides some references for the preservation and appreciation of their wealth.Once again, I would like to thank my wife Xiaoling for her constant support and encouragement, and my assistant Bei Lei for her hard work and dedication!

(End of this chapter)