The unparalleled talent of the country started from Harbin Institute of Technology

Chapter 319 This is too much! (Bonus chapter, please vote!)

October 17, 1987, Saturday, 8:00 AM.

In the lakeside villa of the Weizigou campus of Harbin Institute of Technology in Harbin, Wang Duoyu listened quietly to the work report from Zheng Baoyin and others.

Wang Duoyu spent a great deal of time and energy on this short-selling of the US stock market.

It takes more effort than before to trade both the Mark and the Yen.

Like the original timeline, Wall Street giants such as Soros and Buffett chose to buy on dips and go long, which is the complete opposite of Wang Duoyu's short selling strategy.

Therefore, even though the stock market was falling, Zheng Baoyin and his group still expressed their concerns.

"Uncle, do you think we might lose money?"

When Wang Duoyu heard Zheng Baoyin's words, he really wanted to punch him.

"You spend a lot of time in New York, so you should have heard what Buffett said in his letter to shareholders last year: 'Be fearful when others are greedy, and greedy when others are fearful!'"

"Although this statement can be interpreted in any way, in my opinion, a disaster is inevitable for the US stock market. I'm too lazy to go over the specific analysis with you. Besides, do you think we still have a way to turn back now?"

No!

Zheng Baoyin and the others remained silent, listening intently to what Wang Duoyu had to say.

"The next two days are the weekend, so you can go about your business as usual. Next Monday, the stock market will definitely crash, and a stock market disaster is just around the corner."

After a pause, Wang Duoyu continued:

"So you must get plenty of rest and be fully refreshed over the weekend. After Monday, you'll need to be on your toes."

"That will be our time to reap the profits. I won't allow any accidents to happen because of this or that. You won't be able to make up for the lost profits later."

"Alright, that concludes today's meeting. Take care of yourselves and don't let me down!"

After hanging up the phone, Wang Duoyu chuckled softly.

He did not expect that in the week before the stock market crash, the leveraged short positions of Maple Tree Capital, Interstellar Financial Group, Horizon Capital, and Summit Global were all taken over.

The greed on Wall Street is indeed extraordinary.

The darkness before dawn is nothing more than this.

Over the weekend, Wall Street remained brightly lit, with many people adjusting their strategies and analyzing the situation.

Meanwhile, big names like Soros and Buffett went off to play golf and go on sea voyages.

Wang Duoyu stayed in the villa's study for a while before going out.

Li Rongrong, Lu Yuening, Wang Junhong, and all those little brats are waiting.

"Duoyu, how much longer are you going to keep working? Are you really not going out this year?"

When Liu Xiaoli saw him walk into the bedroom, she smiled and asked him a question.

She was holding Xixi. The child refused to sleep on her own and had to be held by an adult before she would fall asleep.

That's how kids are; once they get used to being held to sleep, they insist on it being that way.

Sisi wasn't like this at first. Wang Duoyu and Liu Xiaoli were used to letting her lie in bed by herself because there weren't many people to hold her, and they were also afraid that their arms would go numb from holding her.

It turned out that Liu Xiaoli's mother, Meng Pinggu, came over once. At that time, she held Qianqian tightly and wouldn't let go until Qianqian fell asleep. Then, when she wanted to put her down to sleep, the little one cried.

From then on, Sisi could only sleep if someone held her.

We have to wait until Sisi has been asleep for half an hour before we can put her on the bed, otherwise she might wake up at any time.

It's such a hassle.

Sisi is almost two months old now, but things haven't changed much; she still needs someone to hold her before she can fall asleep.

"I don't know, but I probably won't be going out this month."

Wang Duoyu laughed:
Is there anywhere you'd like to go?

Liu Xiaoli shook her head. She felt that the island in the middle of the lake was perfect and there was no need to go anywhere else.

Of course, it's nice to go out for a stroll and enjoy the scenery occasionally.

A few days ago, it snowed in Harbin. The temperature has been below zero and will continue to drop as time goes on.

So even if you go outside, it's quite cold, so it's better to stay at home.

"Let's wait until next month, then we'll go to the south."

Before he could finish speaking, Wang Duoyu suddenly hesitated for a moment, looked at Wang Yifei in her arms, and said:
"Sissi is too young, let's take the train then."

While it's not recommended for a three-month-old baby to travel by plane, there shouldn't be any major problems. However, it's best to avoid air travel for a two-month-old baby.

Especially Sisi, who is the only daughter in the family and is now the most pampered child.

"Well, we'll talk about it later."

Liu Xiaoli smiled. Anyway, it was still early, so there was no rush.

However, she was curious about where Wang Duoyu wanted to go next month, but he didn't say.

It's most likely in the south.

The next day, Sunday, Wang Duoyu went to the Institute for Advanced Study at the invitation of Qiu Chengtong and others to have a gathering with them.

Today is October 18th, which is not a special day.

John Milnor, Charles Fefman, Daniel Gray, Joseph Cohen, and others did not publish any groundbreaking papers, so they simply met and chatted.

Of course, the time they spend chatting together is very, very little.

After all, no one's time is wasted on such idle chatter.

In the summer, Wang Duoyu's paper on infinite-dimensional partial differential equations was published, but its influence continues.

Now, Robert Langlands has posed a thought-provoking question:
"Professor Wang, what research topic are you currently conducting?"

"The problem of the bounds of the zeros of the Riemann zeta function".

Wang Duoyu stated his problem directly and expressed his confusion.

After a moment of silence from everyone present, Burghane immediately responded.

Inside the office, what was called a gathering was actually just a small math sharing session.

Because everyone present was a top mathematician.

Fields Medal winners include Vladimir Field, David Bryant Manford, Joseph Cohen, William Thurston, and Gerd Faltings, as well as Shing-Tung Yau, John Milnor, Charles Fefman, Alain Connie, and Yorkz, making it more than ten people.

In addition, there are other top mathematicians such as Jean Burghane, Simon Donaldson, Vaughn-Jones, and Andrew Wiles, who are on par with Fields Medal winners.

Then there are students like Yang Nianzhen, Bocherz, and Rong Guangxia.

As Wang Duoyu's students, they would attend many gatherings related to mathematics.

Especially in the past year, although Wang Duoyu did not go out, he often hid on the island in the middle of the lake in seclusion, making it quite difficult for students like Yang Nianzhen to see him.

Currently, they are discussing the problem of the bounds of the zeros of the Riemann zeta function. In Wang Duoyu's deduction, the Riemann zeta function can be represented as a Dirichlet series.

However, further derivation and inference are needed for specific proofs.

This piqued Bulgean's interest, so he had an in-depth discussion with Wang Duoyu.

The mathematical discussions related to the Riemann Hypothesis are actually related to the Langlands Program.

Wang Duoyu has proven the functor conjecture, so most of the framework of the Langlands program is now complete.

However, some top-level mathematical problems, such as the Riemann Hypothesis, still cannot be proven.

This makes it impossible to fully demonstrate and unify the Langlands Programme.

Even so, once Wang Duoyu publishes the proof of the functor conjecture, the global mathematics community will surely be shocked.

Leaving aside others, let's just talk about John Milnor. Before he was tricked by Wang Duoyu into going to the Ice City Advanced Research Institute, he was already researching the functor hypothesis.

As a result, over the years, the direction was correct, but the results were few.

In particular, they failed to produce any key scientific research results.

If he saw Wang Duoyu's thesis locked in the alloy box, he might just break down on the spot.

There are many mathematical researchers around the world who are studying the functor conjecture.

They are very likely to find it difficult to accept the result that Wang Duoyu proved the funcium conjecture.

Wang Duoyu is now working on the Riemann Hypothesis, and the first thing he needs to do is solve the problem of the boundary of the zeros of the Riemann zeta function.

Let N(σ, T) denote the number of zeros of a Riemann zeta function whose real part is at least σ and whose imaginary part is at most T.

Wang Duoyu was stating his views in front of the blackboard, and as he was talking, he suddenly stopped.

Everyone was taken aback: Did he have a new idea?

And sure enough, that was the case, so he hurriedly said goodbye to everyone and quickly left.

As he left, he waved something in the air, as if using the sky as paper and his hand as a pen to quickly deduce something.

Shing-Tung Yau and others: "."

No, this gathering was supposed to be about sharing, but it turned out that Wang Duoyu was the one who got the inspiration?

That's absolutely incredible!
Sunday passed quickly, and Monday arrived in the blink of an eye. Wang Duoyu did not make a phone call to the United States because it was evening in China, but morning in New York.

So Wang Duoyu wouldn't know what was going on in New York until after 9:30 pm in Harbin.

But at this time, he should be asleep by now, and there's definitely a stock market crash in New York, so there's no need to ask.

In fact, when it's 9 PM on Monday in China, it's 9 AM on Monday in New York.

Even before the market opened, the market sentiment was already quite strange.

In the Bridgewater Associates trading floor of the Empire State Building on Wall Street in New York, Jordan, dressed smartly and brimming with confidence, rode the elevator back to the company.

"Starting today, I'm a junior trader, and I'm going to make a big splash!"

Seeing his energetic appearance, his boss Mark gave him a thumbs up: "Jordan, well done! Keep up the good work this year, and I'll take you to see the real Wall Street at the end of the year."

"Thank you, Mark!"

Jordan held Mark in high esteem because Mark had given him a quick understanding of Wall Street and Bridgewater Associates.

However, as he sat down at his workstation and prepared for the opening, Jordan suddenly had a bad feeling and felt indescribably uncomfortable.

Not only Jordan, but Mark, who was opposite him, also had a serious expression.

The other traders around seemed to sense the unusual atmosphere as well.

Meanwhile, Manhattan was shrouded in dark clouds, with blackness enveloping the land, adding to the tension of the impending stock market crash.

when!when!when!
At 9:30 a.m. local time in New York, the stock market officially opened amidst the urgent and dull chimes.

Not far in front of Jordan, there was a row of displays on the wall, which were ordinary displays showing information related to quotes.

After the market opened, the stock market was hit hard.

In less than a minute, the Dow Jones Industrial Average dropped 72 points, a terrifying decline that came as a wake-up call to everyone.

Jordan was on the phone with his client when he looked up and happened to see this scene. His ominous premonition intensified instantly.

He invested $36,000, which was borrowed money and represented his family's hopes.

However, according to Murphy's Law, what you fear most is what will happen.

The US stock market crash is now unstoppable!

In the next few minutes, the Dow Jones Industrial Average plummeted, demonstrating what it means to plunge dramatically.

But for traders, this situation is downright bleak.

In the market, selling pressure surged, and all sectors were in the red (falling), with not a single green wave (rising).

Panic gripped the New York Stock Exchange, and the futures market was in complete disarray.

From 9:30 to 11:00, the Dow Jones Industrial Average plummeted, and nobody knew how to stop the deteriorating situation.

No hero emerged to save the market.

"Fuck, I told you to sell, immediately, right now, sell, damn it."

"God, I'm begging you, this is all my life savings, and I still owe the bank a million dollars. Please, sell it quickly, I don't want to hold onto this damn stock anymore!"

"It's over. All my securities are now worthless. My life is over too."

In Bridgewater Associates' trading floor, people like Jordan and Mark were all extremely busy.

Previously, they would proactively call clients and encourage them to buy stocks, and then these traders could earn commissions.

But at that moment, all their clients called, urging Mark, Jordan, and others to immediately sell their shares.

How can we possibly sell them off?

There are far too many sell orders right now, but nobody is willing to 'buy the dip'!
As soon as a buy order appears in the market, it will be snapped up instantly.

Currently, short sellers are powerful, stock prices have plummeted, and market sentiment has been completely swayed.

Investors around the world are trying every means to sell their stocks.

"How about we stop trading and close the market?"

Faced with such a deplorable situation, someone made the following suggestion.

However, no one dared to answer, and no one dared to make the decision.

As is well known, the New York Stock Exchange takes into account Wall Street's role as a 'bellwether' for global stock markets, so no one dares to say the word 'market closed'.

In this timeline, the circuit breaker mechanism had not yet been established, so the stock price continued to plummet.

"Fuck, why aren't there any buyers?"

Inside the Chicago Mercantile Exchange, someone sold a large number of index futures, only to be horrified to find that there were extremely few buyers, and they couldn't find any at all.

The New York Stock Exchange also saw a large number of sell orders, but buyers couldn't see them; it was as if all the buyers were collectively blind.

Around noon, Jordan plopped down, his eyes bloodshot. He had just learned from a phone call with a client that ExxonMobil's stock price had fallen by more than 18 percent.

This also means that his previous investment of $36,000 was instantly wiped out by more than $6,400.

He lost so much money in just one morning.

How should he explain this to his young wife and parents when he gets home that night?

In the afternoon, the market crash continued, and stock prices continued to plummet.

ExxonMobil's stock price has already fallen by 25 percent today, and this is not the final price; it is still falling.

On his first day as a trader, Jordan was hoping to make a big splash, but it seems he was wiped out by the sudden stock market crash.

He was completely bewildered by the end of the day.

It wasn't just because of his clients, but also because of the $36,000 he had invested himself.

At this moment, his ears were buzzing, as if hundreds of mosquitoes were buzzing in his ears.

In short, he felt that at this moment, the future was bleak.

Salomon Brothers' stock price fell by more than 32 percent.

Mark, sitting opposite Jordan, also looked dazed; it was clear that Mark had invested in Salomon Brothers.

Buffett also bought Salomon Brothers on Friday, but has already lost $75 million because he had a large stake in the company.

He wanted to go long last Friday, but the market has taught him a lesson.

Berkshire Hathaway's stock price also plummeted by 25 percent.

This message is clearly visible on the display screen on the large wall of Bridgewater Associates.

The losses are severe.

However, Buffett is a stock market guru, a "beacon" of America, and has abundant funds. What seems like a loss of 75 million US dollars is just a piece of cake for the stock market guru.

However, Jordan's situation is different. He invested more than $36,000 and has now lost nearly $10,000.

He was already finding it hard to bear such losses and blows.

However, compared to all of this, just as he walked out of the Empire State Building in a daze, a celestial being descended from the sky.

It crashed heavily onto the road more than ten meters away from him, and a taxi that happened to be passing by was flattened.

A splash of bright red pierced the air and finally dripped onto Jordan Belfort's face.

He stared blankly at the corpse in front of him, not knowing what to do. It wasn't until Mark pulled him inside the Empire State Building that he was able to avoid another celestial being falling from above.

Otherwise, it would end up like the taxi, smashed flat.

This is not the first case of suicide by jumping off a building, as some people have already done so in the early morning.

It's highly likely that he used leverage to "buy the dip" and go long. Now that the stock price has fallen by more than 20%, he's obviously been liquidated, which is why he jumped off the building and committed suicide.

Sudden wealth, overnight ambition—the ups and downs of life are nothing more than this.

The suicides of low-level Wall Street workers and the aimless existence of junior traders like Jordan are just part of the daily life on Wall Street.

The seasoned investor, who has seen countless life and death events, still sits in his high-end office, calmly handling his work.

Warren Buffett, who was already famous, remained remarkably calm when faced with a significant drop in the value of his hundreds of millions of dollars worth of stock.

On October 19th, Buffett continued to receive guests and review company financial reports as usual, showing no intention of hastily selling off his shares.

As long as you don't sell off your shares, it doesn't count as taking a loss.

Meanwhile, in the Quantum Fund office, Soros also appeared very calm.

But that was just a facade, because he needed to project a strong image in front of others.

Remaining calm and composed even under immense pressure—this is the composure of someone in charge of the Quantum Foundation.

At 4 p.m. sharp, the New York Stock Exchange closed, forcing the sharp drop to a halt.

The Dow Jones Industrial Average fell 1727.490 points from 2246.72. Other stock market indices, such as the NYSE Composite Index, fell more than 20%, the AMEX Composite Index fell 13.8%, and the NASDAQ Composite Index fell 12.36%.

The face value of the stock, equivalent to more than $510 billion of France's annual GDP, vanished in a single day.

On this day, the atmosphere in stock exchanges across the United States was tense, much like the dark clouds over New York City, with prices fluctuating wildly.

Stocks of all major companies plummeted by more than 30 percent, including General Electric (down 33.6%), AT&T (down 26.5%), Coca-Cola (down 39.4%), Westinghouse (down 48.2%), American Express (down 39.9%), and Boeing (down 29.7%).

The entire area was ablaze with red, as striking as the bright red patch on the roadside in front of the Empire State Building.

Harbin Institute of Technology, Weizigou Campus, in the lakeside villa of Huxin Island, Ice City.

Wang Duoyu learned about the situation in New York over the phone and immediately smiled.

"got windy!"

The US stock market crash will sweep the globe, and its impact on the global economy will certainly be extremely profound.

The Japanese stock market was also affected by this stock market crash, with stock prices falling, but due to the bubble economy, it was able to recover quickly in a relatively short period of time.

Bang bang!

Just then, there was a knock on the door. It was Liu Deben and Lü Gongliang.

"Duoyu, US stocks are down!"

After they came in, they immediately spoke with great joy.

Since October 5th, US stocks have been falling, but it's not too bad; the drop hasn't been too severe.

So, although Liu Deben and his team saw these data, they remained relatively calm.

This time, however, they could not remain calm.

It is currently a little past 8 a.m. Beijing time on October 20th, which is a little past 8 p.m. in New York on the 19th.

The Dow Jones Industrial Average plummeted 519.23 points on the 19th, a drop of more than 22%, officially marking the start of the US stock market crash.

"Okay, I understand. Lao Liu, Lao Lü, you didn't tell everyone to sell now, did you?"

Wang Duoyu nodded and asked.

Liu Deben and the other man quickly shook their heads.

This stock market crash will continue for some time. The Black Monday of the 19th was just the beginning, and stock prices will continue to fall in the future.

Soros, Buffett, and others haven't sold their stocks yet, so it's definitely not appropriate for Lotte Group to liquidate its holdings at this time.

Right now, the market is flooded with sell orders, and everyone is panicking and scrambling to escape.

It seems that as long as you sell a little earlier than others, you can minimize your losses.

"Actually, it's very difficult for you to liquidate your positions. The New York Stock Exchange's computer system is almost paralyzed because there are just too many sell orders. The more than two hundred microcomputers simply couldn't handle such an overwhelming number of orders, so the computer speed was a full seventy-five minutes slower than the actual trading speed."

Wang Duoyu said:
"If we replace it with our Dawning supercomputer, and pair it with our Powerbook laptop, with this configuration, even if there are twice as many sell orders, it will still operate normally."

The DOT system, the designated order translation system in the New York Stock Exchange's computer system, suffered from insufficient capacity, resulting in more than 130 million out of 400 million transactions transmitted to the DOT system not being executed.

This sluggish efficiency is infuriating.

What's even more devastating is that at noon on the 19th, SEC Chairman David Rudd gave a speech in Washington: "At this critical moment, although we don't know when this critical moment will be, I will discuss with the stock exchanges the temporary closure of the exchanges."

This simple suggestion to 'close the market' only fueled the market panic even more.

The reason is simple: once the exchange closes, traders will not have time to sell their stocks, and these stocks will become worthless and turn into waste paper.

Even toilet paper feels uncomfortable on my butt.

This is the chain reaction brought about by Black Monday in the US stock market.

Liu Deben and Lü Gongliang fell silent for a moment. At this point, Wang Duoyu was still discussing the exchange's computer system. Was this the issue now?
Not at all!
Instead, the question is how this stock market crash will affect the global economy.

"Duoyu, what should we do next? There are so many companies affiliated with Harbin Institute of Technology, they're bound to be affected, right?"

Regarding Liu Deben and the other man's concerns, Wang Duoyu shrugged and calmly said:
"It will definitely be affected, but things will still go on as usual. We can't stop eating just because of a stock market crash, can we?"

During the stock market crash, the products of companies affiliated with Harbin Institute of Technology were most affected, including gaming and entertainment products and computers. Conversely, industrial or daily necessities such as batteries were less affected.

Liu Deben and the other man fell silent again. Although they both knew that Dolphin Games and related products would definitely be impacted after the stock market crash, they still found it hard to accept.

Ugh!
Take one step at a time!

In the following days, the world was plunged into a great panic due to the US stock market crash.

The New York Times reported: Everything was out of control!
Countless investors suffered heavy losses after the Black Monday stock market crash.

Sam Walton, the world's richest man, lost $2.1 billion in stock value in a single day, while Bill Gates, the world's youngest billionaire, lost $3.945 billion.

Computer tycoon Wang An lost more than 30 million US dollars on the afternoon of the 19th alone.

Many millionaires became poor overnight. There were also many investors like Jordan who bought the dip a week before the stock market crash. Now they are either devastated or have jumped off Manhattan buildings to end their lives.

In Manhattan, at the same restaurant, Andy, Henry, and Jordan met again and had dinner together.

"I've lost my job!"

Jordan spoke immediately, his voice unusually hoarse.

No one knows how he got through these past few days; his eyes were bloodshot, he had dark circles under his eyes, and his clothes were so sour they could be used as vinegar.

"Andy, I was wrong. I should have trusted you back then."

"Fuck, I shouldn't have trusted Soros, he's a devil."

Andyslick: "."

Upon hearing Jordan's words, Andy suddenly regretted getting to know him.

He also made up his mind to avoid giving Jordan any investment advice in the future, otherwise, if Jordan's investments failed, he might blame him.

At this moment, all he could do was offer insincere words of comfort to Jordan, telling him to take it easy.

"Andy, you must have made a lot of money this time, right?"

Henry suddenly asked.

If I remember correctly, Jordan had previously asked Andy for money, but the latter refused.

The reason given for refusing at the time seemed to be that Andy had invested all his money in the stock market.

Although Henry didn't know whether Andy was going long or short, judging from Andy's expression, he definitely made money, regardless of the investment.

Jordan was losing money and was also unemployed, a double blow, so he looked utterly dejected.

However, although Andy didn't look particularly cheerful, he was definitely not far off.

"No, I also lost some money, I didn't make any!"

Andy said that.

He had already made up his mind that if he were to have dinner with Jordan, Henry, and the others again, he would have to pretend to be poor, or he would simply not show up.

This is too difficult.

Neither Jordan nor Henry said anything upon hearing this.

They knew Andy was lying; Andy had definitely made money, and a lot of money at that.

Unfortunately, their relationship with Andy wasn't very good.

Jordan, in particular, was given a chance by Andy, but he preferred to believe Soros rather than Andy, and even argued with Andy about it at the time.

The market's reaction has now proven that Andy's investment strategy was correct.

In the face of an epic stock market crash, Jordan failed to seize the opportunity. Alas!
Just then, the television in the restaurant suddenly broadcast a news report: Rothschild Bank had declared bankruptcy!
Jordan, Andy, and Henry were dumbfounded, as were the other diners in the restaurant who were equally astonished by the news.

We've witnessed history.

Less than a month after the stock market crash, this large company with a history of over a century collapsed suddenly.

Unbelievable!

Nobody could believe it.

But that's what it is.

The Berkshire Hathaway annual shareholders meeting was held as scheduled in Williamsburg, Virginia.

One of the journalists attending the gathering asked Buffett what the recent stock market crash meant.
Buffett casually remarked, "Perhaps it has risen too high; this is its true price now."

The words of Wall Street tycoons are utterly unreliable and like dog shit.

Just a week before the stock market crash, Buffett was still heavily invested in Salomon Brothers, and now he's boasting to reporters, putting on airs.

Talent!

However, in reality, Buffett had already sold some stocks; otherwise, he certainly wouldn't have been able to.

Who told him to have his eye on Coca-Cola?
In the office building of the Quantum Fund in Manhattan, New York, Soros decided to liquidate all 5000 S&P 500 futures contracts held by the Quantum Fund.

A total value of one billion US dollars!
He initially offered 230 points, but there were no buyers at all.

Finally, it dropped to 200 points, but still no one paid attention to it.

It wasn't until the index dropped to 190 points that people started to inquire, including companies such as Summit Global, Horizon Capital, and Maple Tree Capital.

When they saw the name Maple Capital, both Soros and Rogers nearly fainted.

Because a week before the stock market crash, they lent shares of several large companies to companies such as Maple Tree Capital.

Now look what's happened; Maple Capital and the others have already bought the shares on the market and then returned them to Quantum Fund.

One after the other, the Quantum Fund suffered huge losses.

Now they're coming to buy the Quantum Fund's standard 500 futures contracts; this is outrageous.

190 points!

Finally, all 5000 S&P 500 futures contracts were liquidated, with an average price of 190-205 points.

But the most ironic thing happened: right after Soros liquidated his positions, the selling pressure mysteriously disappeared as he left the market, and the index closed at 245 points that day.

One after the other, Peak Global and others made a fortune.

"Too deceiving!"

Even Soros, who was used to seeing all sorts of things, was so angry after learning about it that he vomited blood on the spot.

However, Soros's frustration didn't stop there, because the Quantum Fund's net assets were still plummeting, falling by more than 26.8% in just one week, far exceeding the 18% drop in the US stock market.

This is the first time Soros has exceeded his own initial stop-loss limit of 20%.

From the current perspective, Soros has become the biggest loser in this stock market crash.

Compared to George Soros, who cut his losses to survive, and Warren Buffett, who says one thing to people and another behind their backs, Ray Dalio, the founder of Bridgewater Associates, used his own proprietary trading decision-making system to start shorting US stocks a week before the stock market crash.

As a result, Bridgewater Associates actually made a profit of 22%.

Of course, Bridgewater's profits had absolutely nothing to do with Jordan, the low-level trader, losing his job.

Bridgewater Associates is quite large, and the trading department where Jordan worked is completely different from the department that shorts US stocks.

Before the stock market crash, Dalio personally led the traders to move into a small, dark room prepared by the company, and no one was allowed to leave the room until the trading session ended.

Unlike Dalio, who made a fortune, Magellan Fund manager Peter Lynch was traveling in Ireland when the US stock market crashed.

On October 19th, after returning to his hotel, Peter Lynch stayed in his room and kept on the phone with the US headquarters, discussing with his colleagues which stocks to sell to raise cash in order to cope with the huge fund redemptions.

On the 19th alone, the Magellan Fund suffered a net loss of 19 percent, exceeding $2.1 billion.

Faced with massive redemptions, Peter Lynch was forced to sell a large number of shares.

At Duchy Bank, Sifleyman was also in a panic, and like Peter Lynch and Soros, he chose to sell off his shares.

In the face of a stock market crash, few people can remain calm.

Especially in the days following the stock market crash, stock prices occasionally rose, but overall the trend was downward.

So everyone was terrified. Even if they didn't sell on the day of the crash, they all did within a week of the crash.

In particular, the statement by David Rudd, chairman of the Stock Exchange Commission, that the market would be closed at a critical moment caused panic worldwide.

Nobody isn't afraid!
It's always better to escape as soon as possible.

Magellan Fund, Quantum Fund, Duchy Bank, and others all chose to sell off their holdings, and even the renowned Warren Buffett did the same, not to mention ordinary investors.

Inside the small, dark room of the building where Maple Capital is located, the traders are all highly motivated and full of energy.

The stock market crash arrived as expected, and stock prices plummeted.

For short-selling traders, this wave has been incredibly lucrative.

Even disregarding the short positions already taken before October, the leveraged positions added back in the two weeks leading up to the stock market crash on the 19th alone had already made Amei a fortune of over 500 million US dollars.

Leverage of two, five, ten, and twenty times may seem small, but it depends on the situation.

For example, if you add ten times leverage to ten million US dollars, that's one hundred million US dollars.

If you had invested in General Electric, the company would have fallen 33.6% on the 19th. In other words, a $100 million investment would have yielded at least $30 million in return.

It's incredibly profitable!

Huge profits!
Hela O'Brien was urging the traders to quickly complete their orders, buy up the low-priced stocks from the market, return them to the institutions that had previously lent them the stocks, and then quickly liquidate their positions, collect the money, and leave.

The best course of action is to secure the profits and move on.

The stock market crash happened a long time ago, and although the US stock market is still falling, Maple Tree Capital has already liquidated most of its holdings.

Seeing that all the unrealized gains had eventually turned into profits, O'Brien immediately announced:
"Everyone has worked hard these past few months, so I'm announcing a base bonus of $500,000 for each person, with performance bonuses to follow. You don't need to worry about the company taking away this part of your income."

yeah!
All the traders cheered with joy.

Once the transaction reaches this point, it is considered completely finished.

Other financial institutions, such as Summit Global, have also closed down around the same time as Maple Tree Capital. Some financial companies have not yet completely liquidated their positions and will need to wait a little longer.

At the Want Want Group's New York headquarters office, Wang Jianchao, Zheng Baoyin, Li Efra, and others gathered together, chatting and laughing.

Although everyone looked a little tired, their excitement and enthusiasm were undeniable.

This time, the money I made was truly unbelievable.

Therefore, everyone was very happy.

"Jianchao, how much money did your private investment company make this time? Did you use leverage or increase your positions before the 17th?"

Zheng Baoyin asked with a cheerful smile.

These words aroused everyone's curiosity, and many echoed them, then looked at Wang Jianchao expectantly.

"I don't believe you didn't increase your positions. I certainly did, and I even used leverage. And coincidentally, it was Rothschild Bank that took over the order."

"Wow, Jianchao, you're amazing! So you actually played a part in the bankruptcy of Rothschild Bank?"

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(End of this chapter)