Looking at the stock price of Beihai Road and Bridge that had been cut in half, Liu Shitou remained silent. As a value investor, he believed that the injection of high-quality assets like Fubo Port would make Beihai Road and Bridge extremely valuable as an investment, so he filled his position and bought it.
A position slightly lower than the highest level. As a result, the Securities Department actually stopped the asset injection and cut it in half, leaving only 50,000 taels from one hundred thousand taels.
"Alas!"
If you leave, you will lose half; if you don’t leave, you may lose more. A long sigh, a dilemma.
Liu Shitou was reluctant to part with the fifty thousand taels and wanted to hold on. The stock price began to fall slowly. After falling for three days, it rose by one day, giving people vague hope. Then it continued to fall for three days. When the stock price fell to 40% off, he felt a little unable to bear it.
He was stunned and wanted to escape. As a result, there was a short-term correction, which gave him a certain hope. Then came overwhelming selling, which directly suppressed the stock price to 20% off.
In the end, he collapsed and cut his flesh in panic, leaving only 20,000 yuan of principal of 100,000 taels.
Then the stock price started to rise slowly and slowly. It didn't rise much every day, but it kept rising day by day. It continued to rise until it was close to the position before falling, and then it stopped fluctuating.
At this time, Jiang Yan, Zhang Xun, and Sun Baoren had reached an agreement on a truce for exchanging shares. No one hit the market, and the price went up naturally. As a player in the game, Liu Shitou had no way of knowing, and looked at the only 20,000 taels left.
The principal murmured to himself: "Why is value investing not working today?"
??
The Qianqing Palace in Nanjing is gloomy. The reason why it is gloomy is that the emperor's face is gloomy, his old man's face is sullen, and no one in the whole palace dares to speak.
"Jiang Wende, the left minister of the household department, came to see your majesty." In the hall, there was a little old man of about sixty years old kneeling.
"Flat body".
The old emperor's voice was very gentle, "Qing Jiang, do you know what is the most difficult thing in governing a country?"
Huh? Why did the Holy One ask me this? In the Ministry of Accounts, I am in charge of minting and other financial affairs. Could it be that I want to mint coins?
Jiang Wende's eyes rolled. It is better to hide one's clumsiness than to show one's skill in front of the emperor. He replied: "I believe that the most important military matter is the military."
The old emperor shook his head, "Even if there are thousands of troops, I can control them like my arms and my fingers. What's the difficulty?"
"Could it be the administration of officials?"
"Inspecting officials has its own divisions, so why is it so difficult?"
"I am so stupid that I really don't know what is most difficult in Your Majesty's heart."
Zhu Hengjia sighed, "What worries me is the word 'money'! If you have money, everything will go smoothly, but if you don't have money, it will be difficult."
Sure enough, they want me to mint coins! But I have been minting coins and printing money every year. If I mint more coins, I am afraid that prices will rise and the people will not be able to bear it!
Jiang Wende was sweating on his forehead and reported cautiously: "Your Majesty, we just minted a batch of new coins some time ago. If we mint more money, I may harm the people's livelihood."
As a time traveler, Zhu Hengjia naturally understands that excessive printing of currency will cause inflation and reduce people's living standards.
In the past two years, in order to maintain the credit of Ming Dynasty Baochao, a large amount of money is needed. Although a large number of policies can bring long-term benefits, short-term policies cost money. For example, only giving Lijia Xiangfang a salary of 1
item, it will cost more than one million taels a year; for another example, reforming Yichuan, promoting horse policies, and encouraging private horse breeding have invested a lot of money in the past few years. In short, everything costs money.
, the national treasury and internal funds have bottomed out.
However, Zhu Hengjia did not intend to mint more coins. If more coins were minted, prices would be higher. He was not afraid of heaven or earth, but he was afraid of stirring up civil unrest.
Hearing Jiang Wende say this, he smiled, "I came to Jiang Qing not to mint coins, but to ask Jiang Qing if he can issue another 20 million taels of 'Zhao Xin Tickets'?"
"Zhaoxin Notes" are similar to national bonds. Three batches were issued during the Rakshasa attack. Inspired by patriotism, the people enthusiastically subscribed and the issuance went smoothly. But after the imperial court tasted the benefits, it was issued almost every year.
As the scale grew larger and larger, there were gradually fewer subscribers. So the Ministry of Revenue had no choice but to use tariff revenue as collateral and let major banks underwrite the subscription.
"Your Majesty, sooner or later the 'Zhao Xin Ticket' will have to be repaid. Once it is delayed, it will damage the reputation of the court. The previous court had great difficulty in settling the previous 'Zhao Xin Ticket'. This time, 20 million taels are issued, which is such a huge amount.
First of all, not all of them may be issued; secondly, even if they are issued, if they cannot be cashed when due, it may damage the court's dignity." Jiang Wende lowered his head. This is a wonderful man. Whenever he disagrees with the emperor, he will bow his head and accept it.
The aggrieved new wife.
Seeing his appearance, the old emperor also felt that he had taken a big step by issuing 20 million taels all at once. The previous eight issues had only reached a maximum of 10 million taels each.
After thinking about it, he said, "What you said makes sense. If you issue too much, I'm afraid you will lose your money, so let's issue twelve million taels first."
"Your Majesty is wise!"
"Well, Jiang Qing, I have a new idea this time and would like to discuss it with you."
??
The next day, Jiang Wende came to the Yamen of the Securities Department of the Ministry of Household Affairs. When he heard that Shangguan was coming, the doctor You Dong, the Yuanwai Lang Han Shu, and Yang Yongjian rushed out to greet him.
"Mr. Jiang is here, and I'm sorry to hear you come from afar," You Tong said cheerfully.
"Lao You, please don't do these false etiquettes between you and me." Jiang Wende chuckled, "I just took a look and found that your place is so prosperous, and the securities trading hall is crowded with people."
"Your Majesty has made wise decisions. Mr. Jiang, you have led well??" You Dong's flattery came out of his mouth like the water of the Yellow River.
"Okay, Lao You, I didn't come here to listen to what you said. The Holy One has decreed that another 12 million taels of 'Zhao Xin Tickets' will be issued. You should immediately find the money managers and send the 'Zhao Xin Tickets'
Promote it!"
The issuance of Zhaoxin Notes was originally under the direct jurisdiction of the Ministry of Accounts. After the establishment of the Securities Department, it was handed over to the Securities Department. Six, seven, and eighty-three issues have been issued successively.
You Tong chuckled and said, "Don't worry, Mr. Jiang, our company is very experienced in issuing Zhaoxin votes."
After saying that, he ordered Yuanwailang Yang Yongjian to send people to notify the directors of the major banks to hold underwriting meetings.
Dozens of banks interested in underwriting, including Daming Bank, Xinyi Bank, Sihai Bank, Jiuzhou Bank, and Tianxiang Bank, attended the meeting. These banks all have offices on the second floor of the Securities Exchange Building and have managers stationed there to handle the matter, so they arrived very quickly.<
/p>
"Zhaoxin Notes" have been issued for eight issues. The court's credit is excellent, and all dues are settled smoothly without default. Therefore, major banks regard the underwriting of Zhaoxin Notes as a business with no capital and huge profits, and they flock to it.
According to the usual practice, the Daming Bank opened by the imperial court subscribed for 1 million taels first, and handed over the remaining 11 million taels to other private banks for underwriting. The Securities Department pledged the 100 taels for each Zhaoxin note at half the price of 50 taels.
The major banks then sent the money to the trading hall to start shooting. The imperial court settled with the major banks every three months based on the transaction price, and 10% of the discount was the handling fee for the bank. In the blink of an eye, 10% of the profits were made.
All banks are willing to underwrite.
Jiang Wende was stunned to see that in just one morning, all the twelve million taels of banknotes were sold out, and six million taels of silver were quickly put into the national treasury. These banks are really rich, and the method mentioned by the Holy Spirit is really feasible!<
