1928: The rise of giant merchants

Early next morning.

As usual, Huixin rushed to the New York Stock Exchange with Shi Jianqiao and others.

There were more speculators gathered outside the New York Stock Exchange today than yesterday. There was an endless queue, which left several people stunned.

The oscillation in the stock market last night caused countless people to lose all the money they earned this year. The Federal Reserve remained silent and has not disclosed the content of its meeting, which made speculators panic and gather here early in the morning. Want to see how the stock market opens.

Recently, the New York Times has published numerous reports on the situation of the stock market. Its overheating has caused many investors to lose money. This was a risk that could have been avoided.

To put it bluntly, all the fingers were pointed at President Hoover, who shouted for another decade of glory. He and his group of senior White House officials were supporters of the overheated stock market and had opposing views to Franklin and others.

If the stock market continues to decline, or even creates some crisis, Hoover's position will become shaky, so he will never let the stock market change at this point.

Every move at the top will make the people below miserable.

However, as the winners, Huixin and others naturally don't have to be as anxious as the group of speculators outside like ants on a hot pot.

When he led Huixin and others into the VIP room, Benjamin had obvious dark circles under his eyes. It seemed that he had not slept well last night.

Have no idea.

As the deputy director of the trading department of the New York Stock Exchange, he would be called whenever there was any trouble.

The equally busy Mediterranean Minister has less hair and is said to have stayed up all night to appease several big clients.

Benjamin tentatively asked Huixin about her attitude.

This morning, U.S. Steel and other companies called, wanting to find out about Huixin.

Yes, they started to panic.

Yesterday, U.S. Steel's stock price plummeted by nearly $9, the largest drop in the past three years. Millions of market value were wiped out in one day. Can you not be anxious?

When Huixin bought U.S. Steel, its stock price was US$85.6, and it closed at US$77.4 yesterday. If it continues to fall like this today, it may break through the warning line of falling prices exceeding US$10.

Of course, a stock price drop of more than ten or twenty dollars, based on the 100,000 shares Huixin bought, is a million-level loss, which is completely unlikely to shake the foundation of a large company like U.S. Steel.

I am afraid that the fact that U.S. Steel was shorted by capital will be magnified, causing more investors to withdraw their capital, making it difficult for their stock prices to recover, and the losses caused by this will be incalculable.

"It's hard to say, don't we have to look at today's stock price?" Huixin yawned, her attitude ambiguous.

In fact, the second young master has ordered her to close all positions one hour before the market closes. She can decide the specific time on her own, but she must not close her positions within one hour of the market close.

Under the influence of the second young master, Huixin gradually became curious about finance and the stock market.

The news from U.S. Steel that Benjamin brought was nothing more than the hope that she would stop as soon as possible. This showed that the other party was willing to negotiate with her, and in negotiations, some price had to be paid.

"Madam, in addition to U.S. Steel, the companies that own the other five high-priced stocks have called. I hope you can stop selling today. For this reason, they are willing to pay you satisfactory withdrawal funds." Benjamin simply made it clear.

The losses on the stock price were not terrible, so the mid-price and low-price stock companies shorted by Huixin did not look down on her, but the high-price stock companies were different.

The chain reaction caused by short selling is too terrifying and they cannot afford it.

The so-called withdrawal of funds means taking money to settle.

"How much are they willing to pay? If the price is right, I can't evacuate." Huixin looked at him with a smile.

The second young master has also taken care of this one.

However, the second young master didn't seem to care about the amount of funds withdrawn, and just told her to close the position one hour before the market closed.

As for how much profit he can get in the process, the second young master seems to be indifferent.

Looking at the white trader in front of me, and listening to what he said, I can feel the panic of those big companies. They are all afraid of themselves and the second young master who knows everything behind them.

But Huixin knew that the second young master had not put his mind on this matter at all.

He did this just to prove his ability to Franklin and others.

Millions and millions of dollars could not move that man's heart.

Huixin's mood was particularly complicated at this time.

If you want to stay with the second young master longer, this body alone is not enough.

She has to show some value.

Benjamin reported the numbers.

Each company contributed $1 million.

This number is not small.

If you want to make an extra $1 million by shorting, taking U.S. Steel as an example, you have to drop the stock price by an extra $10, which is not easy.

"I understand, I will consider it. If the situation is suitable, I will tell you directly, and you can just inform their people." Huixin smiled lazily, but still did not give Benjamin a satisfactory answer.

Benjamin suddenly felt that he, who had always considered himself shrewd, had been caught by this pregnant widow with big breasts and no brains.

It seemed like she was playing tricks on her.

Damn it!

After talking about withdrawing funds, it was another boring day of drinking coffee, eating snacks, and casually looking at information and data.

Huixin really likes to hear some gossip from the New York Stock Exchange. Kardashian, who is also a woman, is keenly aware of this and often comes over to tell her gossip information in a flattering manner.

Today she mentioned Livermore again, the second young master’s partner.

The once legendary trader on the New York Stock Exchange and now the chairman of the Livermore Group has not come to the New York Stock Exchange to buy or sell stocks for more than a year.

After becoming famous, countless pairs of eyes stared at him, making it impossible for him to use his skills. The most dazzling star in the stock market fell, which is sad.

"Madam, many people say that you are the new star who will replace Livermore." Kardashian smiled sweetly.

Several other hard-working traders looked at Kardashian with disdain.

I felt that she would do anything to please this Chinese-American woman, even saying such disgusting things.

It is true that Livermore no longer buys and sells stocks, but he is still the true god in the minds of countless traders on the New York Stock Exchange. How could a woman be able to compare with him?

However, Kardashian, who is good at climbing up the ladder, was promoted by Benjamin to receive VIP clients not long after joining the trading department, and is now Huixin's one-on-one private trader.

Listening to white women flattering her, Huixin always felt that her current life was unreal.

Everything that was once out of reach is now within reach.

And how bright and gorgeous is the life of the man who allowed her to have all this?

Huixin was thinking this, and then was interrupted by a piece of breaking news before the market opened.

The Federal Reserve released the latest news before the market opened.

The Treasury Department and the Federal Reserve decided to raise the stock financing interest rate from 15% to 20%, and all banks implemented it simultaneously.

This means that the cost for speculators to cash out from banks and into the stock market has become higher!

It is the monetary tightening policy they fear most! (End of chapter)