213. Huge income and short selling before the stock market crash
Friday, March 9, 1973!
clear!
Today is the last trading day of the Hong Kong stock market this week.
As various good news came out, the stock prices of various listed companies in Hong Kong were soaring on the blackboards of the four major exchanges, as was the Hang Seng Index.
The stockbroker wearing a red vest has only one thing to do at this time, answer the phone, then go to the blackboard, erase the original price of a certain stock, and then write the new price to indicate that he wants to increase the price.
acquisition.
Everyone's face is filled with bright smiles, the stock market is soaring, and everyone's wealth is increasing.
Not only the four major exchanges, but also in various securities companies in Hong Kong, those investors were also sitting there, with nervous smiles, carefully looking at the blackboard to see the increase in the stock they bought.
"Mom, look, Jiahu Textile's stock price has risen again, it's now sixty-seven yuan!"
In the trading hall of Sun Hung Kai Securities in Central, a mother and daughter, like other stockholders, sat on the benches provided by Sun Hung Kai Securities and looked at the blackboard with joy. The stock price of Jiahu Textile continued to rise.
And this mother and daughter are Gu Chengxi's mother and sister Gu Xiaomei.
Now Gu Xiaomei has decided to give up her dream of becoming a star and learn to trade stocks from her mother.
That's right, at this time, Mother Gu has obviously regarded herself as a stock god.
"Haha, your sister also said that the Xiangjiang stock market will cool down. Looking at the current situation of the Xiangjiang stock market, how can it be possible to cool down? I think the economic experts hired by their newspaper should be fired!"
Mother Gu spoke with great pride at this time.
Gu Xiaomei sat next to her and nodded, "But we don't have to worry about my sister. Mommy, haven't you promised her to sell these stocks as soon as possible?"
Mother Gu chuckled and said: "Sell? My silly girl, with the current situation in the Xiangjiang stock market, not only can we not sell, we have to add more!"
Gu Xiaomei looked puzzled, "Mommy, didn't you say that all the money in the family was used to buy stocks?"
Mother Gu proudly said: "Yes, but you see the Hong Kong stock market is so hot now, even if you borrow money to buy it, you won't lose money!"
Hearing what Gu's mother said, Gu Xiaomei was really shocked. She didn't expect that her mother would want to borrow money to buy stocks.
After seeing Gu Xiaomei's expression, Gu's mother seemed even more proud, "Are you scared?"
Gu Xiaomei nodded and said: "As my sister said, Mr. Huan personally told her that the stock market in Xiangjiang will definitely fall, and my sister also reminded us that as long as there is a slight drop, we will sell immediately.
Get rid of the stocks in your hands!"
Gu Chengxi has given up persuading her mother to give up stock trading because she found that it is not realistic at all. In addition, at this time, Gu Chengxi herself is also a little confused. Will the Xiangjiang stock market really show a downward trend as predicted by Chu Huan and many others?
?
No wonder Gu Chengxi thinks so. In fact, the Xiangjiang stock market is so hot right now and there is no sign of falling. This also gives those investors the best proof to refute this statement.
So in the end, Gu Chengxi decided to take a look first, just to remind her mother that it doesn't matter if she continues to hold it now, but as long as it goes down, she can no longer hold it and sell it immediately!
When Gu's mother heard Chu Huan's name, she immediately showed a disdainful expression: "Young Master Huan, why do you still listen to him? Didn't you read today's newspaper? In order to repay the gambling debts he owed in Haojiang, he even sold
He lost his shares in Jiahu Textile. If you look at the current stock price of Jiahu Textile, I guess he is hiding somewhere and secretly crying at this time!"
This morning, the newspapers in Xiangjiang finally published the news that Chu Huan sold the shares of Jiahu Textile. If this happened before Chu Huan's 'accident', it would definitely affect the stock price of Jiahu Textile, but it is different now.
In the eyes of ordinary citizens of Xiangjiang, Chu Huan was already a complete loser at this time. Since he was a loser, it was naturally a good thing for Jiahu Textile that he left Jiahu Textile.
Therefore, the stock price of Jiahu Textile rose instead of falling.
"Young Master Huan!"
Gu Xiaomei muttered a little.
"What are you talking about, Young Master Huan?" Mother Gu didn't understand what Gu Xiaomei meant.
Gu Xiaomei then grabbed her mother's hand, pointed to the corridor next to the hall and said, "Look, it's Chu Huan!"
Because of Gu Chengxi's profession, there was a photo of Chu Huan in the Gu family, so when Chu Huan showed up at Sun Hung Kai Securities, Gu Xiaomei recognized Chu Huan at first sight.
Mother Gu immediately said proudly: "Did you see that Chu Huan must have regretted it now? He came to Sun Hung Kai Securities to buy stocks. What should we worry about?"
Gu Xiaomei felt that what her mother said made sense, but borrowing money...
"Mommy, should you discuss borrowing money with Sister A? After all, she has given you many instructions before!" Gu Xiaomei was still a little worried.
Mother Gu said unhappily: "I told your sister, will she agree? Besides, didn't you say that you won a bag two days ago? When the time comes, we will make money from the stock.
, can’t I just buy it for you?”
After hearing what Gu's mother said, Gu Xiaomei immediately lost her worries and said with a smile: "Okay!"
...
"Ah Huan, we haven't seen each other for a while!"
In Feng Jingxi's office, Chu Huan and Feng Jingxi sat opposite each other. Looking at the young man in front of him, Feng Jingxi felt a lot of emotion in his heart.
He became famous at a young age, only to fall into the abyss in just a blink of an eye. Seeing him again now feels like a lifetime ago.
"Uncle Feng, please stop teasing me. I came here specifically to express my gratitude to you. You called me so many times before, but I didn't even answer it!"
Feng Jingxi was the first rich man in Xiangjiang that Chu Huan met after he was reborn in Xiangjiang. Chu Huan's "accident" happened a few days ago. Not only Feng Yongfa was looking for Chu Huan, but even Feng Jingxi called Chu Huan, but at that time Chu Huan didn't want to
There were extraneous problems, so it was all picked up by people with black and white images.
This chapter is not finished yet, please click on the next page to continue reading the exciting content! Feng Jingxi laughed, obviously still angry: "I thought that with Jian Yueqiang's help, you forgot about you, Uncle Feng!"
Chu Huan hurriedly laughed and said: "How could it be possible? It was just that at that time, I knew that I had let everyone down, so I was embarrassed to see everyone!"
Feng Jingxi teased: "You still know that you have let everyone down?"
"I know, I know!" Chu Huan continued to smile: "Didn't I come here specifically to apologize to Uncle Feng today?"
Feng Jingxi sneered: "Aren't you here to take Chen Tao away?"
"I came mainly to listen to your teachings, Uncle Feng, and secondly to take Chen Tao away. Otherwise, how could I have come here in person with Chen Tao!" Chu Huan said with a smile.
Having expressed what he meant, Feng Jingxi no longer struggled with this matter.
"Ah Huan, among the young people in Xiangjiang, you are the person with the sharpest sense of the stock market that I have ever seen. If you can learn a lesson this time, I believe you will definitely make a comeback in the future. Remember that a temporary failure is not a failure."
What, you should take a long-term view when doing things!"
Chu Huan nodded and said, "I remember."
Then Feng Jingxi sighed and said: "Actually, it's not a bad thing for you to sell your shares of Jiahu Textile to Chu Tianxiao now. The current stock market in Xiangjiang is so hard to describe. Maybe there will be a big crash that day!"
It can be seen that Feng Jingxi is not very optimistic about Xiangjiang's stock market at this time.
Chu Huan looked at Feng Jingxi's appearance and sighed with emotion. This man's luck was really not very good!
Feng Jingxi, who was born in Guangzhou, fled to Hong Kong alone when he was 16 years old. At that time, he could only work as an apprentice at the Bailey Dockyard in To Kwa Wan, Kowloon, with a daily salary of 13 sen. If he worked full time, his monthly salary would be nearly HK$4.
After the fall of Xiangjiang, Feng Jingxi returned to Yangcheng, but did not go home. Instead, he worked as an apprentice in a bank and was later promoted to steward, accountant, currency exchange, gold trading, and even ran a restaurant in partnership with others.
With the recovery of Hong Kong, Feng Jingxi returned to Hong Kong with 2,000 Hong Kong dollars and started a small business. In 1948, he heard that the price of fish fry in Taiwan was high, so he raised funds, took loans, and made a desperate move.
He bought a boat and fish fry, hoping to make a fortune by transporting them to Taiwan. As a result, Feng Jingxi fell into a coma at sea. When he woke up, most of the fry on the boat were dead. When he arrived at Taiwan, all the fry were dead.
Lost.
Feng Jingxi, who was crying without tears, had no choice but to mortgage his fishing boat in Taiwan in order to transport Taiwan's bananas back to Xiangjiang. However, by the time the boat arrived in Xiangjiang, the bananas were already rotten.
At this time, Feng Jingxi could only start from scratch.
Later, like Fok Ying-tung, he relied on a certain war to make a comeback and accumulate some wealth. Later, he co-founded Sun Hung Kai with Guo Desheng and Li Zhaoji.
During this period, Feng Jingxi's development was relatively smooth. In 1970, Feng Jingxi took the lead in leaving Sun Hung Kai Properties and founded his own Sun Hung Kai Securities.
As a result, within two years, we will encounter this year’s stock market crash, with losses as high as HK$400 million!
Fortunately, after Feng Jingxi survived the stock market crash, he continued to work hard. First, he established Sun Hung Kai Insurance Company in 1979, and then changed another company under his name, Sun Hung Kai Financial, into a bank in 1982.
Then, Feng Jingxi's unlucky nature broke out again, and he once again encountered a run on Hong Kong's banking industry. In order to survive, Feng Jingxi had no choice but to turn to France's Belida, and then paid 50% of the equity to save the bank. However,
This also caused Feng Jingxi to lose control of the bank.
Finally, in 1985, Xiangjiang Feng Jingxi died of cerebral hemorrhage while working in Vancouver, at the age of only 63!
"Uncle Feng, the current Xiangjiang stock market is very abnormal. I think we should be more conservative!" Chu Huan reminded Feng Jingxi aloud, thinking of Feng Jingxi's loss this time.
Feng Jingxi put away his sighs and laughed and said: "Haha, don't worry, Ah Huan. Although you have a keen sense of the stock market, I have been in this industry for many years, and I will know how to do it. You
Then you don’t have to worry about me!”
Seeing Feng Jingxi's confident look, Chu Huan still tried to remind him: "I heard that the Hong Kong government is studying the taxation of stock income. If this law is introduced, it will definitely hit the current Hong Kong stock market!
"
At this time, there is no need to pay tax on the income from the Hong Kong stock market.
However, next month, the Financial Services Bureau of the Hong Kong Government will issue regulations requiring profits from stock trading to be subject to profits tax. This was another blow to the Hong Kong stock market at that time, and the direct consequence was that the Hang Seng Index fell below 1,000 points at that time.
The mark!
When Feng Jingxi heard the news, he immediately showed a shocked expression: "Who did you hear this from?"
Chu Huan could only say: "A friend!"
Feng Jingxi's expression was gloomy and he couldn't tell whether Chu Huan's statement was true or false. According to his understanding of Chu Huan, it was impossible for Chu Huan to lie to him about this matter. But at Feng Jingxi's level, no matter what
Everything will have its own considerations.
"If this news is true, it can indeed cool down the current Hong Kong stock market. I will consider it again!"
Having said this, Chu Huan could not say anything more. He could only hope that Feng Jingxi would lose less in this storm!
After chatting with Feng Jingxi for a few words, Chen Tao, who was dizzy and confused about the situation, was brought to Fengwu Securities.
Even when Chu Huan asked Chen Tao if he wanted to go to Fengwu Securities when he was just at Sun Hung Kai Securities, Chen Tao was already confused.
But Chen Tao saw the news about Chu Huan in today's news. Although Chu Huan's performance before was hard to describe, Chen Tao also knew that Chu Huan now has tens of millions in cash. Go to Fengwu Securities
Taking care of Chu Huan's funds for Chu Huan is definitely something that does more good than harm for Chen Tao.
This chapter is not over yet, please click on the next page to continue reading! So although he was confused, Chen Tao immediately agreed to Chu Huan's request.
"You should familiarize yourself with Fengwu Securities first, and come to the office with Liu Zhiyuan in the afternoon."
After handing Chen Tao to Liu Zhiyuan, Chu Huan went to Cao Yunshang's office.
Liu Zhiyuan looked at Chen Tao, and once again wanted to slap himself hard in the face, blaming himself for what he said yesterday.
Yesterday I just suggested that Chu Huan continue to buy real estate stocks in Xiangjiang, but today Chu Huan brought a new stock broker and asked me to take him. The meaning of this is self-evident!
But Liu Zhiyuan himself had no choice but to obey orders.
"Let's go, sign the confidentiality agreement first!"
In the afternoon, not long after the stock market opened, Liu Zhiyuan came to Cao Yunshang's office with a shocked Chen Tao.
When he saw Chu Huan sitting on the sofa with a leisurely expression, he really wanted to go up and pinch Chu Huan's neck and ask loudly: "You have hidden the whole Xiangjiang in your bones."
Chu Huan didn't pay attention to Chen Tao's expression, but said to Liu Zhiyuan: "Did you sell everything?"
Liu Zhiyuan nodded. Although Chen Tao was the one who caused him trouble, he couldn't help but said with joy: "Everything has been sold. This time, Mr. Huan, you will..."
How much did Chu Huan make from this nearly one-year plan?
Last year, Chu Huan first played against Tianhua Toys, and then sniped at Ruixing Co., Ltd., and obtained a total of 47 million in cash. Later, he sniped at Tianhua Toys, and then laid out Jiahu Textile. In the end, he was left with 32 million in cash, all of which he bought into Hengheng
refer to.
During this period, Chu Huan withdrew cash several times. By the time of the bull buying war last year, the value of Chu Huan's Hang Seng Index futures was still 32 million.
Chu Huan then invested another 50 million in cash to buy the Hang Seng Index!
At that time, the Hang Seng Index was at 759 points!
Chu Huan started selling in batches when the Hang Seng Index reached 1698 points. Today, the Hang Seng Index reached its highest point of 1774.96 points!
Originally, Chu Huan thought that because of his selling, the Hang Seng Index would drop some points, but it didn't happen at all.
Over the past three days, the Hang Seng Index has been rising steadily.
This also led to Chu Huan selling all the Hang Seng Index futures at an average of 1,725!
And Chu Huan got another 186.36 million Hong Kong dollars from this operation alone!
In addition, Jian Yueqiang helped Chu Huan do some calculations before. After selling his shares in Jiahu Textile, the cash he kept in his hand was 46 million in cash.
But this data is definitely wrong.
After selling the shares of Jiahu Textile, Chu Huan received HK$123 million.
The only two items that really need to be deducted are the 33 million cash loan from Bank of East Asia and the 14 million cash loan from Hang Seng Bank.
As for the so-called Haojiang gambling debts, black and white images, and holes in fantasy comics, they are all just illusions made by Chu Huan. Of course, the cash from these two companies was indeed used by Chu Huan for other things.
But it's definitely not a hole.
In other words, Chu Huan had 76 million in cash at that time.
Because the commission paid to Fengwu Securities for this Hang Seng Index gain has to be deducted, Chu Huan’s specific gain from the Hang Seng Index is HK$186 million.
Plus this 76 million in cash.
At this time, Chu Huan's cash available for deployment has reached an astonishing 262 million Hong Kong dollars!
Liu Zhiyuan and Chen Tao didn't know the situation of Chu Huan's 76 million in cash, but the profit from the Hang Seng Index alone was enough to shock them.
"Okay, you two go down first, the red envelope is indispensable for you, Liu Zhiyuan!"
Chen Tao was not involved in harvesting the Hang Seng Index this time, so he naturally did not receive any dividends.
After Liu Zhiyuan and Chen Tao left, Cao Yunshang finally couldn't help but feel excited and jumped directly into Chu Huan's arms.
"It's amazing. I'm afraid there are not many people in the whole of Xiangjiang who can mobilize such a large amount of funds!"
Cao Yunshang is the person who knows Chu Huan's current situation best, and naturally knows how much cash Chu Huan has in hand.
"Don't get excited, don't get excited, this is just a routine operation!" Chu Huan put Cao Yunshang on the sofa and said with a smile.
Cao Yunshang said exaggeratedly: "How can I not be excited!"
Chu Huan smiled and said: "Only I can move the chicken. You don't have that function, so don't talk nonsense!"
Cao Yunshang was stunned for a moment, his face suddenly turned red, and he punched Chu Huan a few times in an angry manner.
After the laughter, Cao Yunshang asked Chu Huan: "What should we do next?"
This is the only thing Cao Yunshang is worried about. Everything Chu Huan is doing now is based on the fact that the stock market in Xiangjiang will collapse.
If the so-called collapse of the Xiangjiang stock market does not occur in the future, then although Chu Huan received a huge amount of cash, he would also lose the basis for regaining Jiahu Textile.
"Now?" Chu Huan sat there, with a cruel expression in his eyes, and said: "What we have to do now is to short Jiahu Textile's stock!"
The operation of short selling a stock is to sell the stock at a higher market price, and the investor himself does not own the stock; if he has the stock and sells the stock, it is not called short selling. After short selling the stock, the stock price
If it falls, he can buy back the stock at a lower price to close his position and make a profit; otherwise, he has to buy the stock at a higher price to close his position.
At this time, the Securities Regulatory Commission in Xiangjiang has not yet been established, and the laws on short selling of stocks are not that sound. If the Securities Regulatory Commission is established, if Chu Huan wants to do such an operation again, he must contact the major brokerage houses in Xiangjiang and borrow money with interest.
and pay a deposit of 105% of the market value of the short-selling stock as collateral.
But that doesn't need to be the case now.
Cao Yunshang showed a shocked look, Chu Huan was about to start the final decisive battle with Chu Tianxiao.
But, is Chu Huan's guess really accurate?
Is the Hong Kong stock market crash really coming?
"Isn't it a little too hasty? We can definitely wait a little longer!"
Cao Yunshang didn't want Chu Huan to make this risky move!
Chu Huan shook his head and said: "I don't want to wait anymore. I have been waiting for almost two years for today, and now I don't have to wait any longer!"
Cao Yunshang still wanted to persuade, but Chu Huan continued: "Don't worry, even if Xiangjiang is in a bull market now, I can still make Jiahu Textile's stock price drop."
Seeing Chu Huan's answer, Cao Yunshang knew that he could no longer criticize Chu Huan, and said in a deep voice: "Okay, shall I arrange for Liu Zhiyuan and others to operate now?"
Since Cao Yunshang had chosen to believe Chu Huan, he naturally stopped procrastinating and immediately called Liu Zhiyuan and Chen Tao who had just left.
The two of them did not expect that Chu Huan would come to them so quickly. They originally thought about what Chu Huan would ask them to do, but after hearing Cao Yunshang's words, both of them had shocked looks on their faces.
But Chu Huan will definitely not explain to them, he will just preach.
"The current share price of Jiahu Textile is HK$6.7 per share, and now you are short-selling at the price of HK$0.8 per share. This matter will be known to all securities firms in Hong Kong this afternoon!"
Liu Zhiyuan and Chen Tao stood there blankly, not knowing what to say.
No one thought that Chu Huan would be so crazy and make such a short selling price at this time. To put it simply, both of them thought that Chu Huan was going to put himself in a situation where he would never recover!
But neither of them had any say in this matter and could only faithfully implement Chu Huan's decision.
Because their boss is sitting next to Chu Huan at this time and has no opinion on Chu Huan's decision!
The securities industry in Xiangjiang is full of secrets, but when Chu Huan wanted everyone to know the secret, the secret was just as Chu Huan said, in just one afternoon...
This incident spread in the securities industry in Hong Kong.
Naturally, it reached the ears of Feng Jingxi, who had just met Chu Huan. Feng Jingxi received the notice from his secretary and sat there in silence for a long time, all Chu Huan's actions during this period flashed through his mind.
Fengwu Securities is preparing to short-sell Jiahu Textile's stock. Everyone knows the relationship between Fengwu Securities and Chu Huan. Except for the legal person who is not Chu Huan, the others seem to be Chu Huan's personal brokerage firm.
It is precisely because of this.
Feng Jingxi instantly knew that the mastermind behind this incident must be Chu Huan.
Chu Huan chose to short-sell Jiahu Textile's stock at this time. What was his confidence?
Is it just the 56 million in cash in his hand?
Like everyone else, Feng Jingxi also believed that Chu Huan only had HK$56 million in cash.
Yes, short selling does not require cash now, but when the delivery date comes, if the share price of Jiahu Textile does not reach 0.8 Hong Kong dollars, Chu Huan will buy the shares of Jiahu Textile in the stock market at a high price and hand them over to the other party.
How could Huan get so much money?
At that time, all that is waiting for Chu Huan is bankruptcy and liquidation.
Crazy, crazy, crazy!
Feng Jingxi's first reaction was that Chu Huan was crazy.
Although short-selling stocks may cause panic among investors, leading to the possibility of collective selling, Chu Huan's current short-selling price and such a high profile will definitely attract the attention of Jiahu Textile, and Chu Tianxiao will definitely also
Immediately start buying goods at high prices, so Chu Huan's battle is a losing battle no matter what!
But then, Feng Jingxi wanted to understand one thing, that is, Chu Huan could not be so stupid, knowing that there was a fire pit in front of him and still jumping into it without hesitation!
So Chu Huan must have someone to rely on?
So what does Chu Huan rely on?
There are only two types of support for Chu Huan. The first one is that Chu Huan has sufficient funds to support Chu Huan in doing this crazy thing.
But this is obviously impossible, because it is an obvious act of giving money, and no one with any brain would do this.
Then there is the second one. Chu Huan is sure that in the next few days, the stock market in Xiangjiang will collapse, which will also affect the stock price of Jiahu Textile.
"So will the stock market in Hong Kong really collapse?"
Feng Jingxi couldn't believe Chu Huan's judgment. This was different from what the two of them had discussed before. Although Chu Huan said that he had received news that the Hong Kong government might introduce regulations on the taxation of stock income, such regulations
It couldn't have come out so quickly.
And Chu Huan's current behavior is so determined that the Xiangjiang stock market will definitely collapse?
Feng Jingxi didn't tell himself Chu Huan's judgment, and he didn't feel any anger in his heart, because even if Chu Huan told him, Feng Jingxi couldn't believe that Chu Huan could judge the time so accurately.
Not only will I not believe it, but no one will believe it!
Thinking of this, Feng Jingxi couldn't help but pick up the phone and wanted to call Fengwu Securities and find Chu Huan to have a good chat about the matter, but in the end Feng Jingxi put down the phone.
He couldn't ask about this kind of thing, because this plan definitely involved Chu Huan's most core secrets.
"So, is the previous obsession with spinach true or false?"
By this time, Feng Jingxi had begun to doubt Chu Huan's previous performance?
There is no doubt that Chu Huan’s behavior is really shocking!
In fact, there are many people who have the same idea as Feng Jingxi at this time.
Bank of East Asia!
Jian Yueqiang also learned the news immediately.
Like Feng Jingxi, Jian Yueqiang immediately thought that Chu Huan was crazy after learning the news.
But everyone knew that Chu Huan would never go crazy over such a thing.
So Jian Yueqiang, like Feng Jingxi, began to think about why Chu Huan would do this, and what he had to rely on, and whether Chu Huan's previous performance was true or false!?
Sun Hung Kai Properties!
Guo Desheng, Guo Bingxiang and his son sat looking at each other. Guo Bingxiang faced Guo Desheng's questioning eyes: "Daddy, don't ask me about this, I don't know anything either!"