Chapter 77 Preparations before the stock market crash
William did the math in his mind. The Nasdaq is now over 5,000. In five days, it will reach its all-time high of 5,048 points on March 7. The margin rate of 350 million and 3% can buy 9,039 shares of the stock index. A single increase or decrease is worth 2.23 million US dollars.
, the additional margin call of 49.56 million can support more than 20 points, no problem.
William immediately decided: "You are afraid that I will suddenly lose all my margin call. I can sign a contract with you. As long as the loss of 49.56 million in the margin call reaches 90%, you can forcefully close my account.
This 10% is to give you time to close your position, so that you will not suffer any losses. Besides, I have 350 million principal in my account. Even if it rises or falls by 100 or 200 points, I will still not go bankrupt. I will lose half of it at most.
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Mr. Grace, if this can't make you make up your mind, then I will have no choice but to switch to another bank."
John Grace thought for a long time this time before saying to William: "Mr. Devonshire, you see it's almost noon. How about I ask Felix to accompany you to have lunch? When you come back at 1 o'clock noon
, I think we can determine what margin rate to give you.”
"OK, this is my first time coming to Switzerland. Only with a local snake can I eat authentic Swiss food. Mr. Grace, I am waiting for your good news."
Felix, who was the exclusive account manager, took William to taste a delicious meal, Zurich veal with baked potato chips, grilled cheese, and seafood soup. It tasted really good.
Wait until 1 o'clock at noon, this guy Grace called on time, "Mr. Devonshire, the board of directors approved your request, 3% margin rate, and the position will be closed if the margin call loss exceeds 90%. Congratulations."
Mr Devonshire"
William knew in his heart that the National Bank would agree to his request, because it would not cause any loss to them. The Nasdaq is already so high, and many people now think that the Nasdaq can rise to 6,000 points. The National Bank thought William was bullish.
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William would not tell the National Bank about his specific operations. He said to Jon Grace: "When will my contract be arranged?"
Jon Grace said: "It can be done now Mr. Devonshire, we can be done now"
"OK, I'll go to the bank soon and meet Mr. Grace soon."
"See you later, Mr. Devonshire, bye"
After hanging up the phone, William said to Felix: "Felix, I need the best law firm in Switzerland to go to the bank to meet me now for 100,000 US dollars. Meet me at the bank in half an hour. Can you do it?"
, Felix”
"No problem, $100,000, I promise I can do it." Felix said sorry to William and got up to make a phone call.
William waited at his seat for 5 minutes. Felix walked in and said to William: "Mr. Devonshire, it's done. We can go to the bank now."
"OK", let's go.
When William returned to the bank twenty minutes later, the lawyer was already waiting for him. William shook hands with the Swiss legal team and got to know each other.
Negotiations started after shaking hands with Jon Grace. It took William three hours to interpret the contract with his lawyer, and after revising it several times, the contract was finally signed before 5 p.m.
Then William and Jon Grace said: "Grace, I need your National Bank to prepare a professional team of 10 people for me. I want it tonight."
"No problem Mr. Devonshire, I can give you the best team now," Jon Grace said immediately, "Felix will prepare everything for you, our fee is 5% of the income
rate, or an employment fee of $100,000 a day.”
William thought for a while and said: "If they make a loss, I will pay them 100,000 a day as employment fee. If they make a profit, I will pay them 100,000 a day plus 1% of the profit, but I ask to sign the strictest confidentiality document."
William turned to the lawyer and said: "Can I ask for a clause in the confidentiality agreement that leaking secrets will lead to imprisonment for more than 20 years, Lawyer Simon?"
Lawyer Simon thought for a while and said: "If the leak causes you a lot of losses, of course, but if the loss to you is not big in terms of money but only reputational damage, this is not certain. It depends on the court's determination of your reputational damage."
, there is a big limit here,
But if you are willing to pay this team a large signing fee when they sign the contract, then I guarantee that as long as someone leaks the secret, that person will definitely stay in jail for 20 years."
"How much signing bonus should I pay, Lawyer Simon?" William asked.
"1 million Swiss francs per person, which is about 1 million U.S. dollars."
William said to Jon Grace: "Can Grace do this?"
"Of course, Mr. Devonshire, even if you don't pay the money, I can guarantee that our National Bank people will never leak any information," John Grace assured.
William will not believe what these bankers say. These guys are vampires and none of them are good people. In other words, even if they are good people in life, when it comes to money, none of these guys are really good people. They cannot be good people.
of successful bankers.
After William waited for an hour and shook hands with everyone in the 10-person team that arrived, Simon's lawyer explained William's requirements to the 10 people. When they heard about the signing, William would pay each person a signing fee of 1 million.
They were hired at a price of 100,000 US dollars per day. None of these 10 people signed the contract without any hesitation. As for the requirement that they would be imprisoned for 20 years for leaking the secret, they did not take it seriously.
After William signed the contract with the newly formed team of copycatchers, it was already 7 o'clock in the evening. William and Felix took lawyer Simon to a Michelin three-star restaurant and had a delicious dinner.
After dinner, William signed a check of 100,000 US dollars to lawyer Simon at the dining table. After receiving the check, lawyer Simon happily said to William, "Thank you, Mr. Devonshire.
If you have any troubles or problems in Switzerland, you can come to me. Our law firm is the best law firm in Switzerland. We can help you with anything as long as you can afford it."
When William heard Simon say that as long as he could afford the money, he could do anything, he complained in his heart, "Aren't you talking nonsense?"
"Thank you, good night lawyer Simon. I will contact you if I have any questions. Bye." William shook hands with Simon and his team to say goodbye. As for William's copywriters, they are now preparing in a confidential room in the bank.
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As soon as he entered the secret room dedicated to VIP clients, William saw these traders resting on sofas and recliners with their eyes closed. He didn't bother them. He found a chair and sat down. As soon as he drank a glass of whiskey, William's cell phone rang.
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William hurriedly answered the phone and said to the phone: "Wait for me for 10 seconds." After that, he walked out of the VIP room and said to the phone in the aisle: "Hello, who is this?"