MTL - Wall Street Legend-Chapter 36 Freshwater Fund

  Chapter 36 Freshwater Fund

"This is a relatively good company. It used to manage more than 70 million U.S. dollars in assets. The founder, Mr. Steven, used to be a professor of finance at Columbia University. Later, he resigned and went to Wall Street. , make a lot of money.

  Later, he took heavy positions in two companies, SUN and America Online, so... he was a conscientious person who felt sorry for the investors. After two months of suffering, he couldn't think of jumping into the river for a while, so he jumped off the Brooklyn Bridge. The body was only found nine days later. In fact, there are many fund companies that have caused heavy losses to investors, and there are only a few who jumped off the building, which is much better than before. "

  Freshwater Fund Company is considered to be private goods that Mr. Robertson showed Ye Dongqing. Last month, the founder committed suicide. This small fund management company fell into a situation of imminent bankruptcy, waiting for liquidation and settlement.

  SUN (Sun Microelectronics) went bankrupt, and AOL didn't survive the winter.

Last year, that is, in 2001, AOL just merged with Time Warner Group. Within a few months, the market value plummeted by hundreds of billions of dollars, making a group of investors of Time Warner Group cry, and even the CEO (CEO) Desperately stepped down.

There are not a few unlucky investors like old Mr. Steven. A large group of fund companies with heavy holdings in the Internet industry were collectively strangled by the wave of the Internet bubble collapse some time ago. If you are lucky, you can still have some money left. If it is good, it will be liquidated and bankrupt. Even if it loses a quarter of the principal, it can be regarded as a relatively beautiful figure. It is so terrible.

  If she couldn't even read the financial report, Ye Dongqing wouldn't be so arrogant that she would dare to come to Wall Street with tens of thousands of dollars and a beautiful girl who didn't understand anything.

  Through the financial report of the Freshwater Fund, he found that the performance in the past few years was quite good, but it suddenly crashed last year and continued to decline this year.

  Originally, there were still more than 20 million US dollars left after the stock market crash. They walked and ran, and more than 4 million of the more than 6 million US dollars in the account were about to be liquidated and transferred to the investor's account next week.

There are almost two million US dollars belonging to the same investor. It is estimated that the loss has been desperate. I want to use this money to bet on the future to see if the Internet industry can recover. If it is not stable, I will leave soon. By then It is really the end of the mountain.

  Freshwater Fund is about to run out of water. The money on the books belongs to investors, and it has no money. The advantage is that there are not many debts. Only the salaries of the company's employees have not been paid, and the total amount is about 100,000 US dollars.

Through the financial report, Ye Dongqing can imagine the whole process of an old professor who kept hopeful after the bubble collapsed until he was completely desperate. When he found out that the total value of his holdings in Amazon stocks was about two million US dollars, he sighed: "It's a pity. If you have the patience to hold on, there is no hope for a comeback."

It's useless to say what he said now, when Mr. Robertson next to him heard this, he suppressed a smile in his heart, thinking that he was another brat with a heart higher than the sky, and he had already expected Ye Dongqing to bump his nose in Wall Street Grey, and finally ran home despondently to inherit the "family property".

I was laughing in my heart, but I didn’t say that in my mouth, and said in an exaggerated tone: “Yeah, this company is very good, you only need to pay a small price to get it, the debt itself is small, employees, licenses, office space and so on It's still there, just go through the formalities.

  I asked for you, the office is still three months away, and it’s two buildings away from me. Let me take you to see them? Oh, should be off work, I can call Steven Jr., and he's agreed to sell the business for a million dollars. "

   "A million dollars?"

  Ye Dongqing felt that this figure was a bit high, and there were only three-digit assets left in the company account, which was not worth so much no matter how you looked at it.

"Well, it includes office supplies, computers, desks, printers, and leases. In addition, there are stocks held by the old Mr. Steven through the company. The current total value is about 750,000 US dollars, part of which is Time Warner after the merger. The stock, the other part is Amazon, and you have to settle the wages owed to the employees.”

   "That's about the same. I thought he was crazy. A company that is about to go bankrupt is not worth so much money."

Ye Dongqing took a sip of his cigar, and was thinking about something in his head. The asking price of one million dollars is not high, but for him, he definitely can't afford the money right now. Let's talk.

He directly "confessed" to Robertson, who is the middleman: "My father only gave me a start-up capital of 500,000 U.S. dollars, which cost a lot at the beginning, and I have to wait a month for the remaining 2 million U.S. dollars. to give me.

  You help me negotiate this business, let the other party agree to postpone the payment for one month, let me get the company first, and sell the stock to me after a month, and give you another 10,000 US dollars in commission, OK? "

Danshui Fund has no assets anymore, and they are not afraid of Ye Dongqing defrauding them of their money. It is luck that someone agrees to buy such a shabby company. Robertson turned his head and agreed decisively: "Okay, you can also pay a deposit first, and I will help you with it." He talks about..."

  Miss Laura was sitting beside her drinking black tea, already dozed off by listening.

  She didn't know anything else, she only knew that Ye Dongqing definitely didn't have a million dollars, and she spent another 10,000 dollars in commission.

   I feel proud that I didn't agree to cooperate with him, otherwise I would owe money behind my back, and I wouldn't sleep well at night, so I don't have to worry about anything now that I'm out of it.

After making the phone call, Mr. Robertson from the consulting company stayed in his office for more than ten minutes before going out. He went to another building to inspect Fresh Water Fund Company. The office area is about 150 square meters, with a total of six Desk, computer on the table.

Mr. Steven, who got the inheritance, looked to be in his thirties. Ye Dongqing skipped over Robertson and bargained with him. The content was nothing more than desks, computers, etc., and the lease was a waste. If you have debts, including stocks, you are only allowed to pay 800,000 US dollars, provided that you cooperate with the transfer procedures.

  Perhaps because of his eagerness to resell these items, little Steven agreed to the price. Although he complained about the payment in one month, he still agreed on the premise that there were no other buyers, and agreed to draw up a contract tomorrow.

  Buying a company that is about to go bankrupt, and it’s not a big company. It has neither reputation nor assets.

  Drive Miss Laura home. She rented an old apartment recently, which was slightly better than the one Ye Dongqing rented before. She didn't dare to invite him to sit down, and Ye Dongqing didn't force her.

  There will be a lot of things in the next few days. After returning to the hotel and putting away the car, he will go out on foot. He decides to find a tavern and drink two glasses of wine to reward himself...

  (end of this chapter)