Chapter 1273: Playing big

Tan Zhenhua woke up in a daze, got rid of Vivienne's ugly sleepy limbs, then finished her personal hygiene, sat in the living room, and started to enjoy the exquisite breakfast prepared by Aunt Cindy while habitually taking it. I picked up the newspaper and started to browse the news of the day—just glanced at the headline of the San Francisco Chronicle for the first time. Half of the pork buns he had bitten in his mouth fell on the table with a "click", smashing the plate and chopsticks. Jump around.
"Fuck, this time I'm playing big!"
He yelled in his heart.
In the newspaper, the huge headline was shocking-"Black Monday"!
And this title instantly activated his memory.
In his previous life, he was also someone who had played stocks for a few days. Of course, he knew the allusion of "Black Monday"-it was a global stock market crash and was cited as a classic case on countless occasions. He failed. Remember the specific date of the stock market crash that broke out in the previous life, but at least he still remembers the year and approximate time of the outbreak-the second half of 1987 was exactly this year!
And he still remembered that after the stock market crash, there were divergent opinions on the global review of the cause of the disaster. There were all kinds of mess, and some even said that it was because Her Majesty the Queen of Britain accidentally got her feet on the weekend...
"It wouldn't be so coincidental?" He wondered, as he began to read the news reports carefully, and after reading the relevant reports in the San Francisco Chronicle, Washington Post, and Wall Street Journal, he was finally sure , In the "Black Monday" incident that broke out in this time and space, the man behind the scenes is himself!
Should this fall into the category of metaphysics?
Tan Er touched the back of his head, and he couldn't help but feel a hint of doubt in his heart-if it hadn't been mixed up by himself, would the "Black Monday" incident in this time and space still break out? If everything proceeds according to the inherent inertia of history, then who will be responsible for igniting this fuse in the absence of oneself?
Just think about this kind of thing. Tan Zhenhua knows that there is no conclusion at all. With this mind, it is better to think about what to do next-the effect of the "inquisitor" is so good that it is unexpected. After it has drawn a perfect curve on the Dow Jones Industrial Index with a huge amount of calculation and enough chips, almost all financial institutions in the world that use "program trading" have selected a stop loss strategy under the automatic operation of a computer— -That is to sell at any price, and finally sap the global bulls.
The next step depends on how your goals perform.
Guo Zhaode's call quickly answered his question.
First of all, of course, I’m talking about the first target, "UCL" under the NYSE code "UCL".
"California United Petroleum" had a market value of approximately US$10 billion before today, and its public shares accounted for approximately 46% of its total equity, or US$4.6 billion. What is the market value of this company now? Well, it is a pity that because it is the main target of the "inquisitor" attack, the degree of shrinkage is relatively large-in one day, it has shrunk by about 25%, which means that the current market value is only about 7.5 billion US dollars.
And this brings a series of problems.
As we all know, oil extraction and processing is an asset-heavy business. It is true that its products have strong liquidity capabilities, but the scale of investment in fixed assets is also large, and "California United Petroleum" has more than 30% of its business. It’s an offshore mining business (you should remember that this company was actually a merger of two oil companies? Before the merger, one of them was originally called "Dezhou Offshore Oil Company", which also shows that it was engaged in its main business What is it?) Offshore mining business requires offshore drilling platforms, and the fixed asset investment for this thing is several orders of magnitude higher than that of oil wells on land.
As we all know, the United States is a country with a highly developed financial industry. I am afraid that no one would dare to disagree with it as a leader in the global financial industry. Leaders must look like leaders. For example, they need to continue to do so. "Financial innovation", inventing new means of earning (pian) money.
Let's not talk about the "subprime debt" and the endless new tricks, just say that the trick Guo Zhaode once taught Tan Zhenhua looks very "primitive"-stock pledge.
We have just learned that the tradable share capital of "California United Petroleum" is about 46% of the total share capital, that is to say, the non-tradable share capital is about 54%. These non-tradable share capital are undoubtedly controlled by the major shareholders of the company. In hand.
So here comes the problem. Before today’s stock market crash, this 54% of the equity could be worth 5.4 billion U.S. dollars. In a country with extremely developed finances like the United States, capitalists would let this 5.4 billion U.S. dollars of real money sleep on the account or in the safe. Inside?
That is obviously impossible.
The most basic method is to pledge it out, exchange it for cash, and then use the cash to invest to "make money". As long as the income obtained is higher than the loan interest that the pledged equity needs to pay, the business is profitable.
Since most of the pledged cash is a loan with a short term, the capitalists who have obtained the cash will basically not use it for investment with a long return period. They will choose better liquidity, Those that can be realized at any time are nothing more than stocks, bonds, and futures.
However, banks are not stupid. Of course, they accept stock pledges with conditions. One of them is the need to value equity. This valuation will refer to the average value of stock transactions in the stock market during the most recent period, and the bank will lend As for the amount of money, there is a discount on this valuation. In addition, the bank will also require the pledger to sign an agreement. When the stock price is below a certain threshold, in order to protect the bank's interests from loss, the pledger must increase the amount of pledged equity or return a part of the loan.
This is very troublesome.
When the stock price continues to rise, the relationship between the bank and the equity pledger is naturally between hello and me, everyone gets rich, and even allows you to add leverage to speculate on financial derivatives, but today this situation is different, and the stock price is off the cliff. It dropped by 25%-the bank just said, I’m sorry, bosses, you’ve liquidated your positions, then, according to the contract, you either need to pledge new stocks, or you have to pay back the money, and our bank will earn A little spread, you can't bear such a big risk!
Pledge is impossible. If you still have a large amount of surplus equity in your hand, it has already been pledged to cash by greedy capitalists, so you can only repay the money.
Money, put together a little bit, still can pay back a little, today this situation came too suddenly, there must be not so much cash in hand, then only reluctantly sell something-better than being sued by the bank to court, Mandatory declaration of bankruptcy is strong, right?
Stocks, futures, and bonds are the easiest assets to realize. Although they have fallen a lot, cash is the lifeblood. Sell it-however, the whole world has fallen as badly, and there are more people who want to sell these things. Is it the shareholders of "California Union Oil Company"?
what? We actually have more than 4 billion US dollars investment plan in Pakistan Railway? Are you crazy? Stop it immediately and cut it off!
what? Is this plan a project that Vice President Bush personally worked on? Yes, if Mr. Vice President can pay the money by himself, then let's go on, otherwise, don't talk about it! I'm going bankrupt tomorrow, do you have time to talk to me about politics? Where is it cool? Where can you stay with me!