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

Chapter 267 Making money

General Electric's stock performance was somewhat lackluster on Thursday and Friday, as there was no further negative news regarding the stock after its initial sharp decline.

The short sellers who followed suit were very worried that Mr. Morgan would step in to support the stock price, so they all covered their short positions.

This led to a surge in General Electric's stock price.

Meanwhile, bullish investors in General Electric also took advantage of the low prices to build positions, which drove the stock price up all the way to a high of $96.78, looking like it was on a roll.

Larry had been watching this stock closely, not to sell and close his position, but to see if the short seller who had shorted the stock would continue to make moves in the next couple of days.

The result was obvious: the short seller did not take any further action.

Larry was not surprised by this; in fact, he secretly agreed with it.

Larry put himself in Larry's shoes. If he were to short a stock, he certainly wouldn't be foolish enough to drive the price down directly. Instead, he would sell a batch first, then observe the strength of the market rebound, and only continue shorting after the rebound weakened!

Therefore, Saturday should be a very good time to short sell.

Larry glanced at the calendar on the sales office wall, pinning his hopes on the last day of April.

Saturday, April 4.

Larry got up and finished washing up in the morning. He was just about to have breakfast on the first floor of the hotel when he saw that the door to the suite across the street was open.

This is the suite where Dunbar and Matthew lived together. Ever since Dunbar went to take care of Logan's "girlfriend," Matthew has been living there alone.

Larry walked to the door, knocked, and greeted him, "Hey, Matthew? Come down for breakfast!"

But it was Mr. Dunbar who came out of the door; his face was even thinner, but his eyes were as bright and piercing as ever.

“Oh, Uncle Dunbar, when did you get back?” Larry was a little surprised, but also very happy.

“I got back very late last night, so I didn’t bother you across the street. Oh, by the way, Matthew went with the patent lawyer to set up the venue. He said he’s going to some kind of expo on Sunday.” Dunbar rubbed his face, still looking very tired.

"Why don't you sleep a little longer?"

"No! I'm too old to sleep that much. Let's go have breakfast!" Dunbar then put on his coat and closed the door.

The two had breakfast on the first floor of the Astor Hotel, where Dunbar finally told Larry everything that had happened in Greenwich Village.

The woman named Anna had woken up and was out of danger. However, she showed no gratitude to Dunbar and Logan, who had saved her life, and simply lay in bed resting with her eyes closed each day.

“An assassin, that’s normal!” Larry concluded with a laugh. “She’s probably hesitating right now. Her assassination attempt failed, and it’s questionable whether she dares to go back to her organization…”

Mr. Dunbar nodded, then added, "But Logan... he's completely infatuated. He hasn't been to work these past few days, instead he's been glued to that woman, never leaving her side."

“A simp, that’s normal!” Larry’s smile deepened. “I bet Logan has already figured out how many kids he’ll have with this woman and what they’ll be named…”

Although Mr. Dunbar didn't know what Larry was talking about, he understood that Larry was mocking Logan's romantic mind.

After the two finished breakfast, just as they were about to take the hotel carriage to the Paine Weber Securities branch, a receptionist rushed over and said to Larry,
“Hello, Mr. Livingston, I just received a call from Darkta Apartments. A gentleman said the apartment you requested is ready and that you would like to pay the money if it is convenient for you this afternoon.”

Larry nodded, knowing that the manager named Thornton had already arranged a duplex space upstairs for him, which meant he would have to take another $5 from his account...

“Well, things have come full circle again!” Larry exclaimed.

The problem wasn't just about the house; it also involved paying the private contractor who connected the rooms upstairs and downstairs, as well as the renovation company from his hometown in Boston.

That's a lot of money!
Larry felt an even greater weight on his shoulders. Stepping out of the Astor Hotel, he hurriedly hailed a carriage. After sitting down with Mr. Dunbar in the back, he urgently called to the coachman, "To Paine Webber Securities Company, and hurry!"

As soon as the two entered the sales department, Mr. Porter greeted them with a "Good morning" before walking up to Larry and whispering, "Cecil Rhodes is back... He can't stand the endless attacks on him in the newspapers."

Okay... here comes another problem!

Larry forced a smile. "It seems your journalist friends are quite reliable... Even Cecil Rhodes couldn't stand the attacks from journalists." "Attacks when things are saturated, haha... Oh, right, what do you mean by attacks? They're all facts!" Mr. Porter emphasized.

Larry smiled, thinking to himself that he was very clear about journalistic ethics.

“Do you have time on Sunday? You could go and talk to him about the price,” Mr. Potter asked.

“I’m afraid I don’t have that, sir. I have to attend a Columbus memorial exhibition… I’ll need your help with that,” Larry said, frowning.

Mr. Potter waved his hand. "Alright, then you don't need to worry about it. I'll deal with him on Sunday, and he'll have to start paying for his dishonesty."

Having finally dealt with all these mundane, everyday matters, Larry returned to his seat. Just as he was about to check the stock market, one of King Astor IV's bodyguards approached again...

Larry had 100 alpacas galloping through his mind.

Damn it, they just can't stand to see me rest; all these things have piled up into one day!
Sooner or later, I'll buy my own securities company.

Larry secretly swore an oath.

Despite his extreme displeasure, Larry still looked up, smiled at Astor's bodyguard, and asked, "What brings you here? Is Mr. Astor looking for me?"

“Yes, Mr. Livingston, my master would like to ask you about the follow-up to his New York fire insurance?” the bodyguard asked respectfully.

"Let him keep it! It's supposed to be a long-term investment." Larry has also been watching this stock these past two days, and he's been much more cautious than the short sellers of General Electric.

New York fire insurance has already fallen significantly, and the slow, steady decline looks rather alarming.

A week of continuous decline has caused the stock price to drop by about 25%, and even the wealthy King Astor IV is finding it hard to hold on.

However, these stocks have lost their value for trading. Larry doesn't believe that the stock price of a company that has encountered significant negative news will rebound quickly.

Logically, the only advice at this point should be to ask King Astor IV to reduce his holdings when prices are high. However, Larry knew that King Astor IV was an extremely proud man and might not listen to him. But if his advice turned out to be unsuccessful, the king would hold a grudge for a long time.

Therefore, at this point, asking him to adhere to long-term investment value is a truly good choice... that's generally how it is.

Therefore, many long-term investments are actually short-term investments that become long-term investments, and long-term investments that become contributions. How many people only start talking about long-term investments because they have ruined their short-term investments?
But for someone like Astor, who is easily swayed and has his own set of logical ideas, repeated attempts to make money are more likely to result in significant losses. Companies like New York Fire Insurance, on the other hand, have long-term value.

Not everyone is suited for stock trading; most people will lose everything in a bull market...

It is truly an eternal tragedy.

After dealing with the bodyguards sent by Astor, Larry finally had time to sit there and wait for the market to open.

Today is Saturday, and the stock market opens at 10:00 AM.

As soon as the market opened, General Electric's stock saw a significant surge. The price broke through the $95 mark, successively conquering the $96 1/2 and $97 levels, continuing its upward trend.

A small cheer erupted in the client area of ​​Paine Weber Securities.

Clearly, these customers are all inextricably linked to this major rebound.

Larry remained unmoved, standing on the second-floor platform looking down, his fingers still rhythmically tapping on the railing.

Larry isn't afraid of the stock price rising, because for a stock that truly wants to be shorted, a moderate rise is more likely to trigger a more severe drop later.

At 10:12, this short-term upward surge finally ended, and the stock price failed to climb to $98.5 before plummeting.

Soon, the stock price reached $92, and the continuous large sell orders made it seem like the stock price was about to crash uncontrollably.

Larry glanced at the latest quotes written down by the market clerk and felt a sense of relief—he had finally made money. Moreover, Larry had a feeling that this decline was definitely not over yet.

(End of this chapter)