Reborn in America, I am a legendary short seller on Wall Street.

Chapter 177 Buying Two Buildings at Rock-Bottom Price

The next day, Larry waited in Mr. Porter's office for news.

While waiting for news, Larry also sent a telegram to Kennedy in Washington, D.C., asking when the Democrats would reach a resolution.

Kennedy replied with a telegram, saying that he was discussing immigration assistance and the election with Democratic representatives from various states, but that a media campaign against Carnegie Steel was already in place and would begin in early April.

After reading the telegram, Larry tore it to shreds and threw it into the trash can.

Larry didn't plan to participate in the shorting of Carnegie Steel because if he shorted a large amount at a sensitive time, it would be easy for others to find out. However, Larry decided to let his two partners make some money...

By 10 a.m., Larry still hadn't received a call from Goldman, so he said goodbye to Mr. Porter and went to the trading hall to check the stock trends; he hadn't been watching the market for a long time.

After mid-March, as spring drew closer, the stock market performed exceptionally well. Larry focused on steel stocks, railroad stocks, and the share prices of Bell Telephone and British American Tobacco.

Overall, steel and railway stocks are performing well and trending upwards.

In addition, Bell Telephone Company was highly sought after by the market after its listing in 1891, so its stock price is currently high and not a good time to buy.

However, British American Tobacco's stock price has remained in a prolonged slump...

Larry is currently eyeing two stocks: Bell Telephone and British American Tobacco, intending to make long-term investments. At present, Bell Telephone is clearly not a good fit, but British American Tobacco's share price seems worth considering for long-term investment…

Larry recalled that he had the most money in his Reading account, about $35.34, while his Paine Weber account only had $2.0987 left because of bond purchases. So if he wanted to buy gradually, he would use the Reading account.

As Larry sat on the sofa deep in thought, he suddenly overheard his clients discussing cotton.

"According to Mr. Percy Thomas's intelligence, the cotton planting area will be reduced this year. At the same time, they believe that cotton is highly likely to be attacked by pests and diseases this year..."

Larry pretended to be bored and looked around, then turned to look at the two people talking.

The two men were impeccably dressed, wearing tailored suits and extremely luxurious accessories, clearly clients from a wealthy family in the neighborhood.

In addition, the two men each held a booklet. Larry took a closer look and saw that the booklet was titled "World Cotton Newsletter" and was written by Percy Thomas.

Larry knew this man; in the futures world, he was a legend, specializing in cotton trading.

At this moment, cotton is the world's most important economic crop and a strategic resource. If there were a cotton empire at this time, then Percy Thomas would be the spokesperson for that empire.

Larry was very interested in cotton prices, and he often saw wheat and cotton price trends when he looked at stocks at betting companies. However, he rarely saw cotton and wheat quotes at regular brokerage firms because they couldn't handle futures business on the New York Cotton Exchange and the Chicago Mercantile Exchange.

Of course, Mr. Porter's brokerage does offer cotton quotes, but they do not accept futures orders.

Larry was lost in thought about cotton when Henry Goldman hurried down the corridor with a smile on his face. He sat down next to Larry and said softly, "Mr. Livingston, I have good news."

Larry nodded, thinking to himself that he could tell just from Larry's expression.

But Larry didn't respond to him. Instead, he pointed to the cotton prices in the corner of the price list and said, "Mr. Henry Goldman, do you know any companies that are very reliable for futures trading?"

Gao Man paused for a moment, then smiled and said, "Oh, I do know a very good futures brokerage firm called Lehman Brothers. If you're interested, I can introduce you."

Larry was taken aback, wondering if Lehman Brothers already existed.

During the 08 financial crisis in my previous life, wasn't it rumored that Goldman Sachs took advantage of Lehman Brothers' misfortune and watched it go bankrupt?
What? More than a hundred years ago, their two families had a good relationship?

However, this isn't something to consider right now. Larry nodded and waved to Henry Goldman.
"Let's go, we'll talk to Mr. Potter first..."
.
At 1 p.m., Henry Goldman, along with Mr. Porter and Larry, arrived at the door of a mansion on 42nd Street.

“This is the residence of Mr. Henry Astor III!” Henry Goldman whispered to Mr. Potter and Larry.

Larry knew that the so-called Henry Astor III was the spendthrift second son of that second-generation rich kid.

Thinking of this, Larry couldn't help but complain again, "Damn it, all you Americans name yourselves is Henry, Samuel, or William John Jacob. Can't you come up with a few other names?"

If this were a novel, it would easily confuse readers!

Mr. Potter glanced at Larry and nodded subtly, indicating that he knew this place was indeed the residence of Henry Astor III.

With its red sandstone facade adorned with copper canopies, carved arched windows, and steep stone roof, this house is extremely luxurious, complete with gilded railings at the entrance.

Henry Goldman identified himself to the security guard at the door and said he had an appointment, and the guard then let him in.

The three then went to the courtyard, which was surrounded by a cast-iron fence, with Italian marble statues on the lawn and custom-made Victorian-style carriages parked in the stables.

The assistant butler stood at the gate. Hearing Goldman's request, he glanced at the register, confirmed the three's appointment, and then led them into the vast, luxurious building. Although Larry had seen many opulent decorations, those were mostly in hotels or companies; this was his first time truly entering the mansion of one of today's top billionaires.

The living room, which is three stories high, is adorned with a Bohemian crystal chandelier, and the walls are covered with deep red Venetian silk wallpaper.
The fireplace mantel is inlaid with hunting reliefs, and there is a large elk head decoration on the wall of the fireplace chimney, with the antlers serving as gun racks.

In addition, on the main sofa in front of the fireplace, there was a huge North American brown bear skin lying on the floor as a rug.

The walls are covered with oil paintings from the Dutch Golden Age, and Chinese porcelain is displayed in expensive hardwood cabinets.

"Please wait here..." the deputy butler said sarcastically, but did not assign a seat, instead going inside to announce his arrival.

Larry and his two companions looked at each other, but instead of looking for seats, they stood there and waited.

A short while later, two maids helped an elderly man dressed in fine clothes out. The old man was clearly obese, suffering from gout, and wore a custom-made silk vest. He wore a gold pocket watch adorned with a thick chain and gemstones, and a large South African diamond ring on his hand.

This is Henry III!
Behind him were the head butler, two assistant butlers, and four or five male servants.

The wealthy old man sat in the main seat of the brown bearskin sofa, leaning on a diamond-encrusted cane, and glanced at the three of them, saying calmly,

"What, do I really have to make decisions about these little things? They're just petty investments!"

Larry didn't understand the word and turned to look at Mr. Potter.

Mr. Potter said quietly, "That's French, it means small investment..."

Larry nodded, thinking to himself that he had met one of the most pretentious Americans of this era today, who thought English wasn't sophisticated enough and even mixed French into it.

Henry Goldman quietly informed King Astor III of Larry and Mr. Porter's intention to buy the property. The old tycoon laughed and exclaimed, "Oh, those two houses? That's no big deal... But you'd be better off buying my Harlem brothel instead, where the creaking of beds is more frequent than the telegrams from Wall Street! Hahaha..."

Upon hearing his extremely lewd joke, Henry Goldman quickly forced a smile.

Larry was a little surprised, thinking the rich man was too dissolute.

Mr. Goldman took two steps forward and stated the offer the other party wanted. Larry's eyes narrowed upon hearing the price; he could hardly believe his ears, because he heard Goldman quote $32!

King Astor III frowned upon hearing the offer, and he looked coldly at Larry and Mr. Porter, saying...
“Do they even know the value of those two houses? If not, they shouldn’t waste my time… young man,” Mr. Astor suddenly looked at Larry and muttered.

"...Do you know that when my grandfather traded furs for Manhattan, your family was still digging potatoes? The price you're offering is utterly disrespectful to us!"

Larry didn't answer, he just smiled.

Since I've already agreed to pay, Goldman Sachs will naturally answer for me.

Sure enough, Mr. Goldman smiled and offered a few more words of explanation, then took two steps forward and whispered something in Astor III's ear...

King Astor III's furrowed brows suddenly straightened. He looked at Goldman with some disbelief, then looked up at the ceiling and asked in a low voice,
Can I pay in cash?

“Yes, no problem, cash!” Gao Mantilari replied.

“Oh… then $35, it’s settled!” King Astor III glared at Larry and Mr. Porter, then turned to the maid beside him and said, “Aren’t you going to help me back? I fucking need to go back and rest… What a bad day!”

Larry and Mr. Porter exchanged a glance. Neither of them spoke the entire time, but it seemed that the house purchase was settled.
What did Henry Goldman just say in his ear that caused the other party's attitude to change so drastically?
Mr. Potter didn't ask until the old millionaire went back into the inner room and Henry Goldman returned to his side.
"Are you sure? It's both properties plus that street-facing shop? $35?"

Mr. Gao Man smiled smugly and nodded to the two of them, saying, "Of course! We can go and complete the transfer procedures this afternoon! However, you will need to be responsible for the taxes and fees!"

Mr. Porter turned to look at Larry, finding the price utterly absurd. Both buildings had previously been priced at $40, but with the addition of 0.5 acres of land and shops on top, the price had dropped to $35.
Larry shrugged, indicating that he didn't know why the wealthy old man suddenly agreed to lower the price.

"Are you sure, including that 0.5 acres of land and the shops on it?" Mr. Porter turned to Henry Goldman again and asked.

“I swear on the name of our company, Goldman Sachs, that exactly what I just told you, including the two properties and the land beneath them, as well as the adjacent land and the street-front shops, totaling $35, without a doubt!”

Henry Goldman's face was half excited and half arrogant.

Larry was also very surprised. He glanced at Mr. Goldman and said, "I'm curious, sir, what did you whisper to him just now that made him suddenly agree to lower the price?"

Henry Goldman smiled slightly and said mysteriously, "Everyone has weaknesses, doesn't they? If you're really curious, I'll tell you the secret for $1500..."

Larry smiled and shook his head, saying, "No need, I trust Goldman Sachs. Well, it was a pleasure working with you. This matter is settled; I'll need your help again in the future!"

Henry Goldman straightened up and replied with a smile, "Goldman Sachs is happy to serve you!"

(End of this chapter)