1855 United States Tycoon

The shareholding system is indeed a great creation. It allows very small capital to drive very large capital. Before the emergence of a large number of shareholding companies, the companies that a wealthy boss can control are very limited, because these companies have Occupy too much of his funds. With a joint-stock company limited by shares, a small amount of capital is enough to control a fairly large enterprise after it can raise shares from the society. For example, for many companies under the McDonald Consortium, the assets that McDonald has actually invested are not large. For example, a European steel company, McDonald is controlled by an investment company controlled by McDonald Venture Capital Bank. This investment company owns 30% of the company’s share capital, not the majority. But because other share capital is scattered throughout the stock market, this makes the second-largest shareholder own less than 10% of the share capital, and the third-largest shareholder even has less than 5% of the share capital. The rest are small shareholders.

Therefore, at the general meeting of shareholders, 30% of the equity is sufficient to make all decisions. This is because the majority of those with dispersed equity will not spend a huge amount of time and cost to participate in the so-called general meeting of shareholders for the equity in their hands. In this way, 30% of the equity is almost equal to the previous 70-80% of the equity. But this is not the end, because the investment company controlled by McDonald Ventures is also not the only shareholder of McDonald Ventures, even McDonald Ventures owns more than 40% of the shares, and Mike A lot of Donner Ventures' money actually comes from deposits, but not all of the Macdonald family's money. The ratio of bank capital to assets is even less than 10%. Therefore, in a comprehensive calculation, the McDonald family actually used less than 2% of the total assets of the steel company to obtain almost absolute control over it.

Similarly, this economic system also makes it more convenient for large capital to withdraw funds from a Realm. If it was in the era of private companies a few decades ago, if you wanted to realize a company, you could only auction the entire company. If you were a joint stock company, you could only sell it to joint stockholders or other interested acquirers. In any case, you will not be able to carry out this operation secretly, and it will become quite difficult to find a buyer, especially if you want to find a buyer who is used to back the pot. But under the system of a company limited by shares, things are much simpler. You can completely sell the stocks in your hands in the stock market quietly a little bit. And those who bought the stock you sold, probably don't know much about the true state of your company now. And in the original private company era, the little money in his hand was impossible to carry your pot. Now you can easily throw an oversized black pot to them just before the crisis arrives. (This kind of thing, friends who have sold the stocks of China God Cars all understand)

Nowadays, with the good news of the successful development of Alaska Petroleum, stocks such as steel and shipbuilding are once again generally optimistic. Although the price-earnings ratios of these stocks are too high to be seen, all kinds of media, whether it is newspapers, magazines, and broadcasters, are constantly optimistic. The analysis of these companies vowed to say that the prospect of such companies is Star Ocean. Almost no media will jump out and say that the stock prices of these industries are too high.

...

"It seems that our family is not the only one who thinks that the stock price is about to go wrong." Grey Stone said to himself. He started from the media line, and he naturally knows what it means to be consistent across all media. This means that the forces behind these media expect these stocks to appreciate rapidly, and this expectation is actually not for long-term holding, but for quick profit exit. Therefore, the emergence of this phenomenon also means that big capital is generally not optimistic about the prospects.

"Has our funds withdrawn as planned?" Greystone asked the secretary.

"Mr. MacDonald, we did it earlier, and those who should withdraw as planned have already withdrawn." The secretary replied.

"Very good," Grey Stone said. The stock price has not yet reached its highest point, but Greystone does not seek to ship at the highest point. This is not realistic. Because behind the highest point is a plunge, the closer you are to the highest point, the more dangerous it is, and all your actions will be more conspicuous. In addition, their shipments are so large that they may not be able to go out in a short time. Therefore, Grey Stone will not pursue the highest point of shipment. Moreover, the money earned from shipments at the highest point is already only a small amount of money for him. Although it's small, it's really sweet. But no matter how sweet it is, there is no big money as sweet. In setting a moment, grasping the general trend and promoting the development of the general trend is the most important thing.

...

"Dad, according to the various information we have, the McDonald Consortium is already selling their stocks in steel and shipbuilding. I think they think the current economic situation is not optimistic." Little Morgan said to his father. Said, "In addition, I noticed that their divestment in Europe is more obvious. So I have a guess about their approach."

"Talk about it." Morgan continued to lie in the rocking chair, raised his eyes to take a look at own son, and closed his eyes again.

"I'm wondering, does this mean that McDonald and the others feel that war is approaching?" Little Morgan said.

Morgan opened his eyes suddenly, his body swayed in the rocking chair, and he sat up straight.

"Dad, you think, if they just plan to take advantage of the new possible future crises, it is of course understandable that they are quietly selling some assets that are sure to plummet in the future, but there are signs that they will even Some European bank assets are being transferred back to the country. This is not normal." Jr. Morgan continued, "Under normal circumstances, when the depression reaches the bottom, they should start buying those companies that are seriously undervalued, whether in United States are still in Europe. There will be many opportunities for this, so under normal circumstances, they should not throw so many things in Europe, because if they throw too much now, their influence on European governments will be relatively A lot of decline, so that when they are at the bottom of the depression, the repurchase will have a lot of disadvantages. McDonald must have other considerations in making such a decision."

Having said that, Little Morgan looked at Own father nervously.

"Go on." Morgan said.

"Well, Dad." Little Morgan said, "I think MacDonald and the others have withdrawn money from Europe to the United States. There are only two possible considerations, one is efficiency, and the other is safety. First of all, in general Under circumstances, the degree of depression in Europe can always exceed that of United States, which means that by that time, those companies will be more underestimated than United States. So at that time, the efficiency of buying them should be slightly higher than that of United States. States acquired companies. Of course, in terms of security, Europe will face the restrictions of Rothschild and other established consortia in Europe, which is naturally not as good as domestic. But consider the mistake of Rothschild rushing to abandon United States, and even if it is In consideration of leaving an unreliable back road, he should not withdraw so much capital in Europe at this time. Therefore, I think the only possible explanation is the same: MacDonald judges that in this round In the depression of China, there will be war in Europe, and the scale of the war is still very grand, to the point that it is completely out of control."

"You come and tell me this." Morgan said, "you and your secretarial team should have more analysis, right? Just such suspicion is not enough to explain the problem."

"Yes, after we had this suspicion, we worked hard to collect more data and combine them to study. Dad, you told me that in this era, most of the secrets can be derived from money. We studied the flow. So we carefully studied the dynamics of the companies under McDonald’s that we collected and came to some conclusions like this.

First of all, although this round of prosperity is an inevitability of the general situation, if we pay attention to it, we will find that this boom started with MacDonald’s lease of oil fields from the Germans. And this sale, as far as the sale itself is concerned, is not particularly advantageous to MacDonald. Although this can obviously promote the emergence of prosperity, the emergence of prosperity is inherently inevitable. It is faster and slower. Is it really worth MacDonald to sacrifice his own interests to serve the public? "

Having said that, Little Morgan smiled. The McDonald family specializes in hypocrites, not to mention their good words, but they will definitely not sacrifice themselves for the benefit of the public.

"Then what is the result of your research?" Morgan asked.

"The Macdonald family controlled the excitement of the economy and the direction of the flow of funds through this incident. From this point of view, although they did not make much of the deal with the Germans, they did not make much of it on the whole. It still took a big advantage. Not only that, but we also found that the large-scale flow of funds to shipbuilding and steel. And we all know how powerful McDonald is in these two directions. In this boom, there have been too many shipbuilding companies in United States, especially those that build container ships. Too many steel companies, especially those that produce ordinary crude steel. Once the economy goes wrong, these companies’ The value will drop below the cost almost immediately. And if the war really breaks out, Europe will definitely place a lot of orders from us. Shipping, shipbuilding, and steel will be very profitable at that time. Before the war broke out, MacDonald took most of these companies in one fell swoop. After the war breaks out, I don’t know how much money will be made by this. So we suspect that MacDonald may be preparing for a large-scale war in Europe."

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