Chapter 166

Chapter 166 Stifling the American Dream!

According to the usual rules and practices of Wall Street.

Most private equity funds, except those specified in the contract.

During the closing period, there is no need to disclose profit or loss to investors.

But if you insist on revealing it, there's no problem.

It depends on how the contract is drawn up and the relationship between the LP and the investment manager. Smith Capital is now three to four months away from disclosing the first-stage status of its Smith Private Equity Fund, which is also completely legal.

For the LP participated in Smith's first phase of private releases.

They are even more eager to know in advance to know how much money they have won and how much money they have lost.

Smith Capital revealed half-year profits of $17.665 billion according to this data.

LPs cannot wait any longer, eager to know the status of the first phase of the private placement. "Smith Capital's first private equity fund, with total funds raised of $3 billion. Minimum subscription amounts start at $1 million."

"The closing period is 180 days and the repayment period is also 180 days."

PPT above and information revealed by David.

That precedent shouldn't really shock anyone.

A $3 billion private placement is relatively large but not uncommon on Wall Street.

The closing and redemption time of 180 days is too short. It's important to know that for typical private equity funds, the closing period is typically more than three years.

The repayment period is usually five to ten years, and some can be up to fifteen or twenty years.

The 180-day repayment period is almost unheard of on Wall Street.

Fortunately, visitors who are interested in learning have known this news for a long time.

This time it was only officially recognized by Smith Capital. What made everyone happy and shocked was the news that David revealed later.

I saw him laugh and say: "The next number that appears is the first phase of Smith Private Equity Fund, current account balance ~ everyone please see the PPT.

His voice lowered, and a number appeared on the PPT behind him.

8679 million, equivalent to 8.679 billion US dollars.

We know that Smith's first phase of private placement raised $3 billion.

The account balance is currently at 8.679 billion USD. This also means during these two months.

During the first period, the Smith Fund's account skyrocketed 289.3%.

This number caused the guests who were a little numb just now to start chatting again.

This time, even the giants that had rough estimates of the initial profit numbers could not control themselves.

They could go through Smith Capital's not-so-secret cash flow. Smith Capital's approximate profit speculation.

But in these financial flows, they do not have any privileged information.

There is no way to grasp the specific origin and classification of these capital flows.

That is, they can know that money belongs to Smith Capital.

But they didn't know if the money from Smith Capital was Abel's own money or money from the early stages of the Smith Fund. Or money from other investors.

After seeing this exaggerated profit figure.

In the early stages of the Smith Fund, several senior Merrill Lynch executives invested the most.

Whether it's CEO David Komansky.

Stanley O'Neill has always been one to disagree with David Komansky, and the two immediately beamed. Of course, the most interesting one is Charlie Schaff, head of finance.

You should know that at Merrill Lynch, people insisted on giving capital to Smith Capital to invest.

That's Charlie Schaff.

Today's numbers mean that Merrill Lynch's investment in Smith Capital has increased in value by at least 289.3%!

This time, Merrill Lynch was bold and invested $500 million.

This is the largest investment among investment banks and the largest investment among LPs.

In other words, that amount is now $500 million from Merrill Lynch. The added value amounted to 1.4465 billion US dollars.

This figure is almost equivalent to more than 1/3 of Merrill Lynch's profits last year!

Even if half of the profit is deducted, that amount will be used as a commission for Smith Capital.

500 million US dollars, but also a net profit of more than 450 million US dollars!

"啪~"

Stanley O'Neal, who was standing next to Charlie Schaff, couldn't help but pat Charlie Schaff.

"Hey! Dude, am I right?! It's 8.679 billion! 289.3%!" The black president exclaimed enthusiastically.

Charlie Schaff was actually more excited, he lowered his voice:

"You read that right, sir. Because the numbers I've seen are a lot!"

"Haha~" Stanley O'Neill exclaimed happily again.

On the reception stage.

There were also discussions among the guests.

Ted Lener is now regretting and regretting not investing more at the time.

"Damned." Ted Lener complained to his daughter:

"If it weren't for Merrill Lynch's debt collection! I would have invested at least 150 million US dollars! It was because of Merrill Lynch that my cash flow would have dried up! In the end, I only invested 1 million US dollars!"

Ikana glanced at her father, shamelessly exposing him. At that time, even though Merrill Lynch and many banks were demanding my father's money, that was the truth.

Ted Lener has so much money he can't get out.

There is still liquidity of 10-20 million USD.

At that time, Ikana also suggested that between 10 and 20 million US dollars could be invested.

But Ted Lener refused and only offered 1 million USD. In Ikana's view at the time, it was a waste of the investment opportunity she had worked so hard to win for free.

Because not everyone can invest in the Smith Fund.

Now that he is making money, his father says such things again.

Ikana was speechless.

She knew her father wanted to save face, but she did not reveal it publicly. At the other end of the Hilton Golden Hall.

Robert Morgenthau, smiling and silent.

He suddenly said to his granddaughter: "Peggy, have you seen the eyes of these people?

"Open?" Peggy regains consciousness. This legal genius girl is still shocked by the recent numbers.

"Manifestation of capital crocodiles ahead." » Robert said gently. Peggy was surprised and then nodded slightly.

Then she heard her grandfather sigh softly again.

"After that night, for a long time in Manhattan, no one was able to take him down."

"Unless you can surpass these people's level."

"Before he could make money for these people, these people were his biggest protectors."

There is one sentence Robert has not said yet.

That is, if one day Abel becomes someone who hinders the interests of these people. or when it is profitable.

These guardians can also turn heads overnight.

On Wall Street, there's nothing to worry about.

"Alright."

David on the high platform was very pleased with the reaction of everyone below.

He took the microphone and shouted:

"Then let's invite the president of Smith Capital. Please give us your warmest round of applause and invite our Mr. Abel Smith!

In the middle of his speech, applause drowned out his words.

The stage light lowered, Abel gradually climbed up to the high platform with a smile on his face.

David Mellon, like a courtier greeting the monarch, took a few steps back, leaned slightly and held out the microphone with a smile on his face.

Abel took the microphone sent by David, smiled and patted David on the shoulder.

At this moment, the latter was still so excited. Then, he walked towards where David Mellon had just stood, and the spotlight fell on him, making him look like a Hollywood actor on the Oscar podium at this moment.

The main thing is its appearance, at this reception where the capital's giants gather.

This is a bit unusual.

The height of 1.92 meters is suitable for the handsome face of the Hollywood male lead.

And a healthy, balanced body. Many guests thought: Smith has such looks, even if he doesn't have this talent, he can still find a job in Hollywood.

"Hello everyone."

"My name is Abel Smith."

As Abel's voice came out of the audio device, the applause gradually subsided.

Everyone wants to hear conversations from the core and soul of Smith Capital.

"First is the data that people care about the most. David said it all."

"I won't focus on that aspect."

He had to face the eyes of more than two hundred distinguished guests. The posture is neither humble nor authoritative, nor domineering nor too humble.

He looked at dozens of giant crocodiles standing in front of him and smiled and said:

"At first, when I came to New York from Tarrant County, Texas. I only brought fifty dollars."

Hearing his "fifty" dollars, many people involved smirked.

But actually he's too good now.

Even though he knows his "fifty dollars" is a meme and fake. People who have knowledge in their mouths are full of admiration, no matter how much they despise them in their hearts.

"When I came to New York, I wanted to be a taxi driver because I had a driver's license. I want to be a waiter because I find it difficult. I want to be a librarian because I like reading. I also want to go to Central Park and make a living as a street painter."

Abel follows a cast of characters he built during Smith's turbulent period.

There are also think tanks that have designed their own lines.

He shamelessly faced two hundred guests and journalists hidden among the waiters.

Use the fictional image of Abel Smith to explain to people the "American Dream" and "New York Dream".

Because he wanted to broadcast the general content of tonight's speech and reception. Only in this way can it bring him the most benefits.

To maximize profits, is there anything worth bragging about?

"But one day I was walking down Wall Street. I saw this cow on Wall Street and I thought it was so cute, just like the cows I keep at home."

"That's right, at home I raise cows, I can also milk them. I was the third finalist in the youth group of the 137th Tarrant Milking Competition!

"When I saw this cute bull. There is a voice in my heart telling me: Stay here, this is where you belong!

"I chose to follow my inner voice. I walked in with only my fifty dollars.

"Wall Street responded generously. A week later, I had $100,000!"

"It's Wall Street, it's New York and it's America. A country full of freedom, full of wonder and capable of making dreams come true!"

Under the stage, Ted Lener couldn't help but say to his daughter: "I think this boy can do well if he runs for office. He's too good to brag about!

Fifty dollars turns into a hundred thousand dollars a week on Wall Street? !

Who are you kidding?

Las Vegas offers a one in a million opportunity.

Wall Street, $50?

These investment managers will just kick you out!

Ikana finally couldn't help but look at her father in bewilderment. Looking at Abel enthusiastically, she retorted:

"Stop talking nonsense, dad. I think he is such a person. There's nothing wrong with him. He represents the American dream!"

Ikana's reason actually told her that Abel was just talking.

But in his eyes, Abel had more aura.

Additionally, if the numbers are converted into cash, the entire room can be filled. Under the double BUFF, what Abel said now, Ikana thought it was true.

Maybe because beauty is in the eye of the beholder.

After all, she was the one who received the most pua from Abel.

It's a bit like Stockholm.

Ted Lener curled his lips again, and Abel's speech on stage continued. ".When I made my first $5 billion."

"I don't think the American dream can be achieved alone."

"I want to give you the American dream and I want to make your American dream come true!"

"I want to share my success with all Americans!"

"Smith Capital will be open to the public, as will my talent."

"I want to bring my abilities across America!"

"I'm ready to be an investment manager for all Americans, so the value of their paychecks can continue to grow. Let everyone have more money, so everyone can live in a good house and drive a good car!

"Tonight is a beginning!"

"From now on."

"Let's extinguish our American dream together!"

Finally, he raised his right hand high, showing enthusiasm.

The guest audience, whether right or wrong, quickly cooperated and applauded.

Applause filled the sky.

Journalists among the waiters openly filmed with video cameras. No bodyguards or security personnel came to arrest them and the journalists were all very excited.

This Madfak will definitely be big news tomorrow!

Abel Smith makes big news as Storm Smith begins to wind down.

The happiest is their group of journalists.

In fact, Abel's speech contained lines designed by a consulting organization.

to these journalists and the large number of American readers behind them!

On the other hand, I really think that work is the power that ensures the safety of the rock. More than forty waiters and seven or eight reporters mixed together.

Some even brought cameras.

Rock Security really can't find out?

That's just intentionally letting them in.

This was so they could take pictures of the huge flock of crocodiles gathering and so they could take pictures of Smith Capital's "trophies" on PPT. Have them film Abel's "stop the American dream" words and speech.

This time, Abel won't just attract giants like Buffett.

This time, he wants to make his Smith known to all Americans and he really wants to make a fortune with them!

Tonight's scene was improvised by him.

The think tank then spent a day thinking about policies, speeches and emergency measures.

Currently, this has little impact on guests at the onsite reception desk. This number is not as good as the previously announced numbers, making them even more shocked.

But the final speech that Abel gave was originally the audience standing behind the reporters taking photos.

Wanting to be successful is one thing, but Abel has done it.

Cost is just a boast.

If successful, he will be able to directly ascend to the position of investment god in the United States. The influence of ordinary people can far exceed Buffett's influence.

Why not do that?

After extinguishing the American dream, Abel decisively ended his speech.

The watcher asked him to detonate it again and he was unable to detonate it.

These lines are not what he thought. As for whether these lines will have any effect on ordinary Americans, that depends on tomorrow.

To the giant alligators that surrounded me after my speech.

Recently he changed his excitement from stuffy to the American dream.

He once again became the handsome, gentle, introverted boy of the Anza family.

Facing the crowd around him, he got straight to the point. "As I said in the invitation."

"Smith Capital is about to launch its first round of funding," he said.

"Smith Capital's ability to make money is obvious to everyone."

"Here, I can also directly tell you my personal initial assessment of Smith Capital."

"So how much?"

Richard Fuld at his most charming character.

Before Abel could finish speaking, he couldn't wait to ask.

Including Buffett, even George, who was not part of the capital round, looked at him curiously.

Abel smiled, raised his right hand directly in front of everyone, clenched his fist and let it go, five fingers spread out.

"$500 billion." » Abel said gently. This number immediately caused a huge reaction from the giant crocodiles present.

Still the bulldog of Wall Street.

Richard Fuld exclaimed:

"No way, sir! Five hundred billion dollars? Are you kidding me!"

In 1994, Lehman Brothers was listed on the New York Stock Exchange through an IPO.

This year marks the 150th anniversary of the founding of Lehman Brothers. Its share price exceeded $100 for the first time and entered the constituent stocks of the SandP 100 index. It is one of the five or four largest investment banks in the United States.

However, when Lehman Brothers' market capitalization was at its peak, it did not exceed $100 billion.

The same goes for four other major investment banks, including Goldman Sachs, which has the majority of its market capitalization between $50 billion and $80 billion.

In terms of market capitalization, investment banks have never been the largest in the Wall Street ecosystem. Abel's $500 billion market value is higher than the combined market value of four major investment banks.

How does this get them to agree?

Paulson couldn't help but say: "Mr. Smith, you're wild."

David Komansky did not speak. His position at Merrill Lynch was almost lost.

Morgan Stanley, which is now considered a leading investment bank, CEO Philip Purcell also frowned. Other giants, including Buffett, have stopped talking.

500 billion US dollars, too exaggerated.

Abel smiled and said:

"I want to ask Lehman Brothers, Goldman Sachs, Morgan Stanley, Merrill Lynch."

"Four gentlemen, can the combined profits of your four investment banks in the second half of this year exceed $16 billion?

No one answered this question.

Because that's obviously impossible.

The total gross profit of the four major investment banks last year was less than $18 billion. Nothing in all of last year, and even less in the second half of this year?

If there is half, it is considered a passing score. .

"It shouldn't be, right? Because there isn't any. As far as I know, the total market value of the four major investment banks is now close to 400 billion US dollars."

"You who make so little money are worth so much money"

"Smith Capital, which makes money more than twice as much as yours, why can't it be worth more than you?"

When he said that, everyone present felt that it made sense. .

But if you think about it carefully, it is basically a strong word.

"You can't say that." Philip Purcell said. . "Mr. Smith. Whether it's Lehman Brothers or Morgan Stanley or Goldman Sachs and Merrill Lynch."

"We all have a long history and power, reputation, heritage, customers and traditions accumulated over time. »

"We have these factors to support our market value. Additionally, we still have assets"

Before Philip Purcell could finish speaking, Abel interrupted.

Abel now seemed aggressive, he said directly:

"But compared to me, none of you make enough money!"

At this time, Abel's behavior.

Like a real American. .

In the future, there will be four changes per day, this number will increase to two changes at noon during the day and two changes at noon during the day. I'll make adjustments once I've saved the draft, and I currently have no saved drafts.

(end of this chapter)