Volume 1: Island Nation Turbulence Chapter 9: Industrial Light Devil (4)

  West Coast of America, New York, Wall Street!

  Here is a market where merchants, managers and investors gather to buy and sell securities at prices, especially stocks and bonds. Stocks represent shares of ownership in businesses, while bonds are certificates of long-term debt issued by domestic and foreign corporations and governments. Like other capital markets on Wall Street and elsewhere, it consists of primary and secondary markets.

  The primary market is the place where a company first issues shares to the public, and its main function is to enable new or existing companies to raise funds for expansion. The secondary market involves the value of stocks when they are bought and sold among investors on an exchange, and their value fluctuates up and down with supply and demand, in addition to other factors. The primary market is where entrepreneurs and venture capitalists go when they need to raise funds for a new company, but established companies also rely on this market to raise development capital. Issuing new stocks is the most common way for American companies to raise funds. In 1986 alone, 1,575 companies issued over 5.962 billion shares on the New York Stock Exchange, with a market value of $219.9258 billion; and 951 companies issued 3,611 bonds, with a market value of over $14.57 billion. Companies often put about half of their profits into operating businesses and distribute the other half as dividends to investors.

  The secondary market is the place where most investors carry out transaction activities, they buy and sell stocks and bonds in stock exchanges or over-the-counter markets, with the aim of seeking greater returns on investment. In the secondary market, the value of stocks and bonds rises and falls during continuous trading. It is precisely this fluctuation that encourages investors to take risks.

  The primary market and secondary market are complementary to each other. The stocks sold in the primary market supply the secondary market, while the secondary market has nurtured some investors to enter the primary market to buy new stocks.

  "Bill Miller, Washington and Lee University economics graduate, Johns Hopkins University philosophy Ph.D., Legg Mason Value Trust fund manager. Leslie, also Bill's wife, is a portfolio manager at the Legg Mason Value Trust."

  "Mark Moeurbis, Boston University graduate, PhD in Economics and Politics from MIT!"

  "André Bouchard, graduated from the University of Geneva in Switzerland, Bachelor of Economics at Dartmouth College! Participant of the 'US Trading Championship' of the Beverly Hills Trading Association!"

  "John Alfred Paulson, Bachelor of Science in Finance from the Stern School of Business at New York University, MBA from Harvard Business School, recipient of a Fulbright Scholarship, and head of mergers and acquisitions at Bear Stearns."

  The five people standing in front of Jerry were all middle-aged, no, older than Robert Soros! So when Robert led Jerry to introduce them one by one, the scene became a bit comical.

  "What about him?"

  Jerry looked at the bigger middle-aged man standing beside the five people.

  "Carl Icahn, Princeton philosophy graduate, NYU Medical School dropout, corporate raider, Wall Street shark! He's just interested in our investment firm and came to take a look! Mr. Carl Icahn is not on my list, and even if I wanted to invite him over, he might not be willing, he has his own notorious securities company!"

  "Can't you use less piercing words? Robert! As a senior on Wall Street, I need your respect!"

  "Respect is given to those who need it, not to sharks like you who go crazy at the smell of blood!"

  "You all don't understand me! I'm not a shark, no, I'm at most just a maintainer of employee rights! Do you know, they, those middle-level cadres, need fighters like me to protect their interests!"

  "Fighter? You're really good at joking, Mr. Ikan! I never thought that acquiring Global Airlines would make you so noble! On the contrary, this malicious acquisition only made me see your disgusting saliva! Yes, seeing the prey and drooling out disgusting saliva!"

  "You dislike me this much? Is this why you didn't want to invite me?"

  "What we need is not sharks!"

  "Is it a hunting dog?"

  "Don't assume we're all like you! I have a duty to be responsible to my employer!"

  "Is it a he or a she? A child or a woman?" Karl. Ickes gazed at Robert with the air of a lion raising its hackles, but instead his eyes slanted sideways, measuring Jerry and Nene standing on the edge as if they were merchandise for sale.

  "I'm starting to admire my own taste now, because a trashy arrogant person like you can't see the sparkle!"

  With a "bang", without any warning, Karl Ickan's fist hit Robert's face. "I won't allow anyone to repeatedly insult my dignity! Even if you're Soros' son!"

  "Damn it..."

  Robert, who was punched in the face, did not fall down, he suddenly lifted his foot and kicked Karl viciously.

  The scene was in utter chaos!

  Bill, Mark dragged the furious Robert Soros, on the other side, John Paulson alone tightly hugged Carl Icahn's waist with red eyes, and Andre Bouchard had his hands in his pockets, he was originally a cold and isolated person, standing aside was his best choice.

  Leslie stepped between the two men, extending one hand to each side, "Hey... gentlemen, anger only brings disaster, calm down!"

  "For God's sake, Andrei, come here and help me out, I can't hold him!" Johan Paulsen was almost dragged along by Karl Ikan.

  Leslie was almost hit by that huge fist!

  Andre, who was standing on the edge, quickly pushed Leslie to the side, but poor him was directly punched by Karl Ickan and flew up! He collided with Bill Miller, and then brought down Mark Murbach and Robert Soros together!

  Carl Icahn swung his fist and rushed up, "Damn it... come try my fist!"

  "Bang......"

  Robert was pinned to the ground and unable to move, then Karl Ickan punched him in the face, splitting his lip open and sending blood flying out!

  "John, what the hell are you still hugging your waist for, beat this son of a bitch!" Mark Mobius hastily rolled over from the side and got up.

  "Hit him..." Bill saw his wife fall to the side, already furious, he pushed away Andrei Buzhinsky, who was holding him back, and rushed forward with his fists.

  "Everybody quiet down! Mr. Karl Eikan, you're not welcome here, and if you continue to cause trouble, I won't hesitate to call the police!" Jerry rushed in front of Karl Eikan, shouting loudly, "If I were you, I'd save your energy for the stock market! Let me give you some advice: while there's still time, get rid of Texas Oil with Holmes!"

  Carl Icahn's fist, which was originally going to smash down, stopped at this moment. He stared at Jerry with wide eyes, and he was indeed frightened. Because of the matter of ambushing Texas Oil with Australian investor Holmes, he had not mentioned it to anyone. He suddenly grabbed Jerry's collar and lifted him up, "You... how did you know?!"

  A child with eyes brighter than bright stares at you and says out the secrets buried in your heart that no one knows, it's really scary!

  "Oh God... is he being murdered? Stop him!" Leslie, who was on the ground, looked up at Jerry, who was suspended in mid-air and kicking his legs wildly, and screamed loudly.

  To be honest, Karl Ickan was scared by his inner fear!

  Mark Murbach, Bill Miller and Robert, who had jumped up, hastily grabbed Karl Ickan's arm, wanting to pry his hand open, but the middle-aged man's strength was really too great! Three people, it didn't work either!

  "Let him go, let him go quickly..." Tanaka Nana's voice was trembling with tears, she was really too scared, but just as she rushed over, she was directly knocked to the side by Karl Ikan!

  Jerry's neck was grabbed and his face turned bright red!

  "This damned guy should go to hell! 'Cai Cai Zi... call the police!'"

  Tanaka Nanae, who had fallen on one side, quickly struggled to pick up the phone that had dropped to the ground!

  "Alright, kid, good, very good!"

  Jerry, who was finally grabbed by the neck, thudded to the ground. Carl Icahn twisted his body a few times and broke free from the three Bills surrounding him. He straightened his collar, spat on the ground, and then pointed at Robert Soros, who had been punched again and was still lying on the ground, before storming off in anger!

  "This madman! Call the police and catch him!" Robert struggled to sit up from the ground, his mouth full of blood and saliva.

  "Karl Ikan is just like a Terminator, he's really a devil!" Andre Bush's face turned pale and he struggled to get up, clearly Karl Ikan's punch had left him reeling even now!

  "Mr. Bush, I couldn't tell if you were being sarcastic or praising me. From now on, act like a man! There's a Chinese saying that goes 'a real man has things he will and won't do.' Act like a man and do what a man should do! That's my lowest expectation of you!" Jerry coughed for a long time before getting up from the ground.

  "Robert, you too! An eye for an eye, a tooth for a tooth, are you not even aware of this principle? Tolerance, as a manager, you need to be tolerant, not just in behavior but also in thinking. Yes, a heart that is tolerant! Didn't Quantum Fund teach you even this? Alright, everyone get up, hurry and clean up, we have important things to prepare for! Guys, hurry up, look at the mess!"

  In half an hour, JR's investment conference room!

  "Alright, ladies and gentlemen, let me introduce myself. I am Jerry K. Rosenthal, the owner of JR Investments, your boss! And this is my personal assistant, Tina Nakahara! Oh... no, no, no, don't look so surprised! I am indeed your boss! Robert... Robert..."

  "Gentlemen, please take a seat. What he said is absolutely right! Although JR Corporation is under the name of Ms. Tanaka, the real boss is actually Mr. Roschelle... Ms. Tanaka is just his assistant, that's all!"

  "Robert, are you kidding me? Working for a kid?" Mark Mobius jumped up, "For a kid, I actually turned down an invitation from Dampont Asset Management Company, this is really a joke! Alright, the joke is over, and so is the dream of American First Investment Company, thanks for your fooling, Mr. Robert Soros! So, goodbye... go to hell, today is really damn bad!"

  "Mr. Mark Mobius, OK, hope I didn't get your name wrong! Your good character is thriftiness, investment interest is emerging markets, and investment philosophy is to do homework before buying stocks, likes to wait for a big catch, loves to dig out bargains! How's that? Mr. Mobius, did I get it right? Heard you're very interested in China, Thailand, Mexico, Brazil, South Africa? Believe me, actually I'm just like you, these emerging economies have an indescribable charm!"

  To be honest, Mark Mobius's expression is very rich. It's not just shock! Maybe, there's also a large part of admiration!

  "Mr. John Paulsen, calm and low-key, skilled in financial analysis, tell me, which company do you think has a higher return on investment between Belsden Bank and Gruss Partners Fund?"

  John Paulson shrugged, apparently this young boss who was surprised by his age already knew the answer, before Robert Soros came to him, John Paulson's best bet was a partnership fund controlled by Marty Gruss, with whom he had cooperated for four years, but now everything is different!

  "Mr. Andre Bush, perhaps you can discuss your formula theory with Mr. Paulson and your failed investment in the real estate industry in 1980! I think that would be very helpful to you!"

  "As for Mr. Bill Miller, perhaps the P/E ratio, P/B ratio and dividend yield can provide a good reference for you, but this is not the only way to select stocks, and you already know that it only works in the early stages of an economic downturn! Maybe you need to consider when to give up on a belief and when to choose another path! This is what you need to do, remember William James' essay? Yes, pragmatism, maybe you just need this!"

  "I don't know what Robert told you, that JR is going to be the number one investment company in America? I never said that. But let me tell you something, JR is not just going to be the number one investment company in America, but in North America, South America, and the whole world! That's my dream! And I hope you, Mr. Mubarak, Mr. Paulson, Mr. Bush, Mr. Miller, and beautiful Leslie, will all stay with me to help me achieve it! Warren Buffett started his lifelong investment career at age 6, and so did I, only I played a little bigger than him."

  This may not be the most persuasive speech! However, Mubius admitted that he liked the little guy's attitude, so like everyone else, he chose to stay!