Hollywood starts with an agent

Chapter 486 Warren Buffett

"The South Korean won has fallen to 1060 against the US dollar, South Korea's foreign exchange reserves are running low, and the South Korean government has begun contacting the IMF."

"South Korea is currently experiencing bank runs, bankruptcies of financial institutions and trading companies, mass closures of small and medium-sized enterprises, rising unemployment, and soaring prices."

"The situation is gradually deteriorating..."

In Hong Kong, Aaron was keeping a close eye on the South Korean market, and Edgar Irwin would report on his progress from time to time.

In the villa on the hillside, Aaron leaned back on the sofa, flipping through the newspaper in his hand. South Korea still wanted to save itself?
The IMF's aid conditions are very stringent. In summary, they require South Korea to significantly raise bank interest rates, bankrupt the Korea Integrated Finance Corporation, and completely open up to foreign investment, including liberalizing financial markets and corporate acquisitions.

A moment later, Yang Gongru came out of the bedroom, her figure graceful, and sat in the man's lap.

"I'm going to film a drama at the TV station, so I might be a bit busy!"

Yang Gongru is going back to ATV to film "My Date with a Vampire". She is indeed very busy now, as this is a major production for next year.
Moreover, the ATV martial arts drama "Snowflake Sword" starring her this year also had very high viewership ratings.

Aaron smiled, put his arm around the woman, and kissed her on the lips. "Don't worry, I'm also preparing to go back to my country. Huanya should have arranged a role for you, right?"

Yang Gongru nodded. "Yes, there are!"

Aaron returned to the United States in mid-to-late November, before Thanksgiving. By then, the Korean exchange rate had fallen to over 1300, the stock market had plummeted, and the foreign exchange market had been forced to shut down.
The South Korean government and the IMF's aid negotiations also deepened, because South Korea was now on the verge of bankruptcy!

New York, Manhattan, Dawn Tower.

Aaron leaned back in his chair, holding a copy of The Wall Street Journal. The Seagram Group was acquiring PolyGram!

Philips, the parent company of PolyGram, decided to streamline its business by divesting all businesses unrelated to its core operations, namely semiconductors, lighting, and consumer electronics.

In the past two years, with the expansion of Warner, Universal and Sony in the record business, PolyGram has been in a lot of trouble.
At the same time, the problem of piracy in the record business is becoming increasingly serious, and the classical record market continues to be sluggish!

"Edgar Bronfman Jr. wants to acquire PolyGram in order to expand MGM Entertainment's music business."

Aaron muttered to himself, after all, PolyGram had grown into a major player by acquiring a number of music companies, including MGM Records, in its early days!

After acquiring the MCA Group, Dawn was directly reorganized into Universal Music Group, and its development in the past two years has been quite good.

Edgar Bronfman Jr. certainly hopes to reorganize PolyGram into MGM Music Group after the acquisition!
PolyGram is currently considered the world's leading record label among the six major record companies, with the largest market share.
The six major music groups—PolyGram, Warner, Sony, Universal, EMI, and Bertelsmann—are vying for dominance.

Plaza Hotel at night.

Aaron and Christina Yerry attended a cocktail party. "The Victoria's Secret Fashion Show is becoming more and more successful!"

Christina Yerry smiled. "It's all thanks to your good judgment; Victoria's Secret's stock price has risen quite a bit now."

"By the way, do you really want to acquire Saks Fifth Avenue department store?"

“Of course,” Aaron said, taking a sip of his champagne, “it’s already been entrusted to the Franklin Templeton Fund to handle.”

"At that time, Victoria's Secret lingerie can also be sold there!"

Christina Yerry nodded in agreement. "Victoria's Secret has more and more stores in North America and is now expanding outwards. The European market is a very important one." Victoria's Secret's rapid growth has also boosted the business of Christina Yerry's Victoria's Secret Angels model agency, and she certainly hopes Victoria's Secret will continue to thrive!
"By the way, how did Mr. Bean's Big Disaster perform in North America?"

Aaron asked.

"Performance has been mediocre; the North American box office has just surpassed $4000 million, and it seems unlikely to break the $5000 million mark."

"However, it has performed exceptionally well in the international market. Currently, the film's international box office has exceeded $1.7 million!"

Aaron couldn't help but laugh as he listened to Christina Yerry's response. "Mr. Bean's Big Disaster" has now grossed over $2 million worldwide.
Of course it's exciting! The investment is only a few million US dollars!
"However, the recent crime drama film 'The Gas Chamber' performed poorly."

"After three weeks in theaters, it only grossed a little over $3000 million, and the reviews were also mediocre."

"The Gas Chamber" is directed by Ridley Scott and stars Brad Pitt.

Aaron wasn't too concerned. "Right now, we need to focus on Titanic."

"We can't neglect publicity. I believe James Cameron won't let us down!"

A short while later, Aaron ran into Warren Buffett.

"Aaron, congratulations! Your performance in Asia this time was amazing!"

Faced with the stock market guru's compliment, Aaron humbly shook his head, "I'm just dabbling; the returns of hedge funds like Quantum Fund and Tiger Fund are truly astounding."

"Moreover, Berkshire Hathaway's development in recent years has been truly inspiring!"

Berkshire Hathaway's stock price has now reached $43000 per share. Aaron initially spent $1.65 million to buy 10000 shares.
Its current value has reached $4.3 million.

Warren Buffett smiled and said, "The progress of Dawn is evident to all; Berkshire Hathaway sold a significant amount of Disney stock this year."

"We're planning to buy shares in Dawn, Aaron. What are your thoughts?"

Aaron shrugged. "It's great that people are buying Dawn's stock. It means we're doing well!"

Dawning's shares are now over $70 each, with a market capitalization of nearly $300 billion. It's perfectly normal for Warren Buffett's Berkshire Hathaway to be optimistic about Dawning.

"By the way, I've noticed that Berkshire Hathaway is preparing to invest heavily in the Japanese market. Mr. Buffett, are you very optimistic about Japan?"

Berkshire Hathaway has acquired a significant number of shares in Japanese trading companies, including Mitsubishi Corporation, Mitsui & Co., Itochu Corporation, and Sumitomo Corporation.

"Aaron, you are well aware of Japan's strength and resources; the Asian financial crisis has indeed affected Japan."

"However, I believe that Japan should be able to recover quickly!"

Aaron nodded, but his next target was South Korea;
Aaron knew all too well how fast South Korea's economy recovered after the financial crisis!

Furthermore, Aaron is also planning to invest in the Chinese market, believing that China's economy will take off once it joins the WTO...

(End of this chapter)