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Volume 1 The Miracle of Qishan Chapter 199 The Chinese Department

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    In 1994, when Hong Kong Zhongqi began to intervene in the Nasdaq market, the Nasdaq Index was only 720 points. In July 1997, the Nasdaq Index reached 1,560 points. As the financial crisis in Southeast Asia deepened, the Nasdaq Index  The Dak stock index began a comprehensive surge, but the real madness begins now.

    In July 1998, the Nasdaq stock index had only one point, in January 1999 it had only one point, and the breakthrough point was only on November 1, 1999.  []

    From November 1st to December 25th, Nasdaq rose a full thousand points, and it is still developing towards 5,000 points. There are even a large number of investment institutions claiming that it can rise to 5,000 points. Capital in the United States and the entire international world has  There's a crazy influx.

    Along with this trend, both the U.S. dollar and oil are strengthening, people are predicting that the U.S. economy will create a new miracle, and the price of gold has also fallen into unprecedented weakness.

    During this period, Yang Shaozong continued to choose to invest in gold and abandon technology stocks.

    The problem is that they own too many technology stocks.

    During this period, Yang Shaozong has been using the National Foreign Exchange Trust Fund to purchase Nasdaq buying contracts, and at the same time spending money to buy stocks to make Nasdaq rise faster. Using the contracts and the Nasdaq stocks in his hands, he  Continue to invest in oil futures through derivative mortgages, and sell on both sides.

    He initially only had 30 billion U.S. dollars in hand, which was almost nothing in the entire Nasdaq market value of 4 trillion U.S. dollars. However, he used 30 billion U.S. dollars in foreign exchange to create a market value of more than 60 billion U.S. dollars.  It was something he didn't even expect.

    This is state capital. He did not dare to fight, so he asked Tian Yuan to gradually sell stocks and instead buy resource stocks and long-term Japanese yen contracts.

    He is sure that once the Nasdaq goes bankrupt, the U.S. dollar will weaken because the Federal Reserve must lower interest rates, while the Japanese yen interest rates remain at a high level, which will force the Japanese yen to rise against the U.S. dollar, not to mention that the Japanese yen itself is now at a high level.  A historically low level.

    "Eating the long-term Japanese yen is a leveraged buy-up, mainly in the semi-annual period.

    The advantage of using leverage is that he doesn¡¯t have to take out too much capital, and he puts most of the capital into short-term oil futures. After cashing in the futures and selling them to the spot market, he will turn most of the funds into cash around February.  Current, continue to short the Nasdaq, Nikkei, Hong Kong stocks and other current month index futures.

    Too many buyers of the short-selling futures index will easily create pressure, and the market will not rush into it. Therefore, another of his strategies is to start cashing out in January and continue to short-sell Internet stocks.

    If everyone is selling stocks, it will be very difficult for you to short-sell.

    Therefore, it must be sold short in advance.

    Compared with this series of operational issues, a more complicated issue is how China Flag Group, Hong Kong China Flag Group and Silicon Silver Group cash out and leave. Before that, their first large-scale cash out was to transfer a01's stock to Time Warner.  Three institutions, Silicon Silver Group, Hong Kong Zhongqi and China Flag Investment Bank, cashed out more than US$1 from it. Before that, their cumulative investment was only US$1. They stopped investing in July 1998 and spent two years in exchange for US$1.

    In order to force Time Warner to cough up the money, Silicon Silver Group opposed the merger, and eventually asked Time Warner to spend $1 to buy these stocks through loan financing from Bank of America.

    Because the pressure to cash out in the short term is relatively high, after the Nasdaq reached a high point, Zhongqi Group and Silicon Silver Group began to initiate transfer agreements on a large scale and reached a series of agreements with many investment companies and SI funds in the United States to transfer the Microsoft holdings in their hands.  , Cisco, Dell and other stocks were all exchanged for other stocks and other financial derivatives, and then continued to be exchanged and cashed out, and finally the asset investment was concentrated in resource stocks, financial stocks and a large number of subprime mortgage products.

    The key to buying a large number of subprime mortgage derivatives is that the total number of shares they hold in Nasdaq is too high. Direct sales will trigger a large-scale avalanche and eventually lead to their own losses.

    In the United States, sub-prime mortgages were almost an investment product second only to the New York stock market, US dollar bonds and the Internet at that time. It was also a relatively new product market. There were good reasons why they chose to enter. As international capital continued to intervene in sub-prime mortgages, at this time  U.S. subprime mortgage products are in the most rapid development stage.

    During the Asian financial crisis, Yang Shaozong invested a total of nearly 4 billion US dollars in Silicon Silver through continuous cash-outs. In addition to Silicon Silver's own continuous operations, Silicon Silver held a total of more than 500 billion US dollars in stocks on the Internet. Among them, only  Their holdings in Yahoo contributed one-third of the market value.

    Silicon Silver¡¯s most successful business is none other than Yahoo.

    Yahoo is currently the world's largest Internet technology company by market value. It is the largest Internet search engine, the largest portal, the largest blog network, the largest online mailbox provider, and the largest online download service provider in the United States.  and telecom value-added service providers. It also has its own mobile phone operating engine, personal software business, e-commerce and e-commerce.?Incorporated HNA, Southwest Airlines, Yangtze Airlines, Xiamen Airlines, Zhuhai Airlines, Shenzhou Airlines, Capital Airlines, Xinhua Airlines, ** Airlines and Xinjiang Airlines.

    Eventually, the airlines under the former Civil Aviation Administration of China will be reorganized into four major companies: Air China, China United Airlines, China Southern Airlines and China Eastern Airlines. Among these four major companies, China United Airlines is the only joint-stock airline.

    China United Airlines still needs one-on-three, just like in the oil field.

    Unlike other companies, China United Airlines¡¯ foundation comes from the military. Even though it has separated from the military, it still maintains a mysterious relationship with the military. The main aviation personnel are from military retirees.

    It can also be said that China United Airlines is currently the only airline in China that still retains the Tu-154 series of flights, and there are also airlines that operate the Tu-8.

    In Huakangsheng's plan, China United Airlines will mainly promote development in three aspects in the future. First, further promote the integration of all subsidiaries to form a unified corporate structure and framework; second, dual-brand operations, China Xinhua Airlines retains  , adopt the operating strategy of low-cost airlines; third, give full play to the role of China United Air Transport Corporation and continue to increase development in the field of cargo aviation.

    In the next ten years, China United Airlines will mainly use Airbus aircraft and further increase its holdings of a large number of regional aircraft to fully protect the advantages of the cargo industry through China.

    At this time, Yang Shaozong was actually taking the special plane arranged by Asia Business Airlines, but using the code of China United Airlines. This was a specially modified business plane from Airbus 319, with 24 fully modified luxury business seats.  With a lounge, a recreation room, and a conference room, it is mainly arranged for external rental by Asian Business Airlines.

    Because the facilities are relatively luxurious and it is the only one in Asia, the rental operation situation is still very good.

    Asia Business Airlines has planned to order two more aircraft to undertake the leasing business of high-end business aircraft throughout Asia.

    Many people went to New York with Yang Shaozong this time, including Hu Zuming, Qian Jiaying, Tao Dadong and others. Everyone's task this time was to compress Zhongqi's Internet stocks as quickly as possible in exchange for a more secure  New investment.

    Everyone is generally cautious about the craziness of Nasdaq. If Nasdaq does not break through, they can basically accept it. But now it is really a bit too crazy, because large institutions are actually retreating quickly.  ¡¤Once there is a concentrated out-of-stock situation in the market, it will immediately trigger an avalanche.

    If Yang Shaozong had not yet become famous and had not won the Nobel Prize in Economics, he might have said a few words in advance about the dangers of Nasdaq to gain fame and reputation.

    It¡¯s different now, he¡¯s already famous enough.

    It¡¯s no longer a crime.

    He and Professor Yang Xiaokai's "Factors and Scope of Illiberal Economic Growth in Asia" has been nominated for the second Nobel Prize in Economics. Although they did not win, after winning the Nobel Prize in Economics, as long as they have the opportunity to do so again,  Nomination is actually equivalent to being awarded again. Just because you have already been commended once and are already recognized as the top experts in the world of economics, there is no need to confirm again.

    But for the international economics community, to be honest, the research topic of Robert Mendel, who won the award in 1999, almost overlaps with "Factors and Scope of Illiberal Economic Growth in Asia", and in terms of depth and breadth of involvement, including  There is actually a certain gap in the reinterpretation of neoclassical economics and the multiple impacts of different exchange rates.

    In 1999, Robert Mendel won the award. In principle, he was also reviewing the Asian financial crisis.

    From this perspective, Professors Yang Shaozong and Yang Xiaokai should have won the award again in 1999, but there is really no need. They are already recognized by the international community as experts in the fields of microeconometrics, neoclassical economics and illiberal economics.

    Therefore, Yang Shaozong no longer has to go to Qiangu to gain fame. He can become a tenured professor of economics in any university.

    This time, he just wants to make money, the sooner the better, because this money will be the key to his subsequent investment in Chinese industry and changing the situation of China's industry.  !  .
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