My Age of Investment

"Dylan, your car is a good one!"

As soon as he boarded Xia Jingxing's Gulfstream plane, Ma Yun was like Grandma Liu entering the Grand View Garden, touching and patting here and there, and talking all kinds of compliments.

Xia Jingxing smiled and said, "It's not worth much. Try to make some money this year and get a bigger one."

"bigger?"

Ma Yun looked shocked, "Is the passenger plane modified?"

Seeing Xia Jingxing smiling and nodding, Ma Yun swallowed, feeling a little uncomfortable.

I, the founder and CEO of the Internet company with the highest market value in China, don't even have a private jet. This guy actually wants to change his plane. Moreover, the price of a passenger jet is several times or more than ten times higher than that of a business jet. Including modifications, the cost is More exaggerated.

If I had known better, I wouldn’t have come on the plane!

Ma Yun was a little annoyed. He made a special trip to Hong Kong this time to go to the United States with Xia Jingxing. The main purpose was to talk to Xia Jingxing about Yahoo, and taking the plane was just a side trip.

However, Xia Jingxing's attitude of "not taking money seriously" still showed off his face.

I will buy one myself in the future, the most expensive one, and then invite Xia Jingxing to visit! Ma Yun could only comfort himself in his heart.

After receiving the red wine glass from Xia Jingxing, Ma Yun suddenly remembered something and said, "Hey, Dai Lun, you haven't encountered any difficulties recently, have you?"

Looking at Xia Jingxing's puzzled expression, Ma Yun said with a narrow smile: "What kind of friendship do we have? If we really encounter difficulties, just say it. Although I don't have much assets, it's nothing to give you one or two hundred million." questionable."

Seeing Xia Jingxing fall into silence, Ma Yun felt much relieved.

What are you pretending to be?

You want to buy a passenger plane while pledging Ali shares. Is this a sign that you are not short of money?

Xia Jingxing smiled and said, "Really?"

Seeing Xia Jingxing's smile of succeeding in his conspiracy, Ma Yun felt a little regretful and wanted to slap himself in the face.

Sooner or later it will be bad on your own mouth!

Although he felt a little pain in his heart, Ma Yun still pretended not to care, "Borrow it! But first let me say that my ability is limited, only one or two hundred million. I originally planned to buy a house in Hong Kong. If you are in a hurry, you can use it." , I’ll lend it to you first.”

Xia Jingxing smiled and patted Ma Yun on the shoulder, "Forget it, you can keep it to buy a house. This is money to settle down and buy a house. You can't borrow it."

Ma Yun felt that Xia Jingxing looked down on him, so he immediately said strongly: "Dairon, just accept it. If you don't accept it, you are looking down on me! My friend is in trouble, why should I worry about enjoying it?"

Xia Jingxing shook his head and laughed. Ma Yun's money was really worth it. He pledged Ali's shares in order to expand his position in the Hong Kong stock market.

If you borrow money from Jack Ma, even if it's not much, you still owe the other person a favor.

Watching Ma Yun start to go online, Xia Jingxing quickly changed the subject: "Ali's stock price has dropped a lot recently, and the investment bank is only willing to provide me with a loan at HK$10 per share, saying nothing about controlling risks.

Damn it, old man, tell me, old man, is this looking down upon others? "

As expected, Ma Yun was diverted by this incident and said angrily: "Darren, let me tell you, these bullshit investment banks just look down on people, and there are institutions that bet on Ali's stock price and gave us a sell rating... "

Xia Jingxing listened quietly to Ma Yun's complaints. The other person seemed to be very angry about the stock price.

Last year, Ali's stock price reached a peak of HK$41.8, with a market value of HK$210 billion, making it the largest Internet company in Asia.

Since the beginning of this year, Ahri's stock price has been falling, and now it has dropped to 20 Hong Kong dollars. The stock price has been cut in half, the market value has shrunk by half, and more than 100 billion Hong Kong dollars have been evaporated. How can it be described as miserable.

As much as investors praised Ahli back then, they are scolding him now.

Affected by this market pessimism, even the 1,108.48 million Ali shares held by Vision Capital (accounting for 21.95% of the total share capital) are no longer available for loans.

Because Xia Jingxing knew that Ali's stock would be cut in half again this year, directly to his ankles, he did not dare to pledge all of it. He only pledged 500 million shares and loaned out 5 billion Hong Kong dollars.

Even so, when the stock price fell from 20 Hong Kong dollars to 10 Hong Kong dollars, he still needed to cover his position - either pay back part of the money, or pledge a certain proportion of the shares.

Considering that when stocks are liquidated and sold, there is a risk that the stock price will continue to fall, so the two major investment banks have set a 150% warning line and a 130% liquidation line.

This means that when the stock price drops to 15 Hong Kong dollars, you will be required to cover your position. When it drops to 13 Hong Kong dollars, if you have not paid back the money or replenished the stock to pledge, you will directly close the position according to the agreement.

Xia Jingxing calculated that as long as Ali's stock price does not fall below 6 Hong Kong dollars, it can be sustained by continuously replenishing stocks and past pledges. If it falls again, it will need to replenish cash, which goes against the original meaning of using cash for loans.

He knew that Ahri’s stock price would fall miserably this year, but has it fallen below HK$6? He couldn't remember clearly.

However, Vision Capital USA still has a lot of cash in its account, which can be withdrawn at any time.

In short, forced liquidation is impossible!

Ma Yun cursed for a while, and seemed to have a lot of bad energy in his chest. The journey was long, and there were still more than ten hours before flying to the United States. He started chatting with Xia Jingxing about Yahoo and Yang Zhiyuan.

"I talked to Jerry on the phone. They have had several rounds of talks with Microsoft. Microsoft insisted on only offering $31 per share, but Yahoo's board of directors insisted on asking for $40 per share."

Ma Yun looked at Xia Jingxing and asked, "Darren, do you think they can reach an agreement? You make a move, I make a move, and the deal is done. That's the situation I least want to see."

Xia Jingxing smiled and said, "So, when we go to the United States this time, we must do more of Jerry's work.

Having said that, if the price difference of US$9 is multiplied by the total equity of 1.43871 billion US dollars, the difference is nearly US$13 billion.

It's not that easy to talk about, so just relax! "

Ma Yun shook his head, "More than ten billion US dollars seems like a lot, but if both sides make concessions at the same time, the price gap will continue to narrow, becoming billions of dollars, hundreds of millions of dollars, and then... the deal is done!

The most frightening thing is that Yahoo's large and small shareholders all support this deal.

They are very disappointed with the existing management and Yahoo, and they hope to exchange their stocks for Microsoft's or get a large sum of cash to leave this quagmire. "

Xia Jingxing's face was heavy, but he was actually very happy. He was happy to see Yahoo shareholders support the transaction and put pressure on the management, so that he could better persuade Yang Zhiyuan.

"Lao Ma, let me say what if...if Microsoft really acquires Yahoo, what will we do?"

Meeting Xia Jingxing's serious eyes, Ma Yun frowned and said, "Could we talk to Microsoft again?"

Xia Jingxing snapped his fingers, "Bingo, after coming all the way to the United States, we must not go back empty-handed."

"Then what are we talking about with Microsoft?" Ma Yun was a little led astray, and his thoughts began to follow Xia Jing's mind.

Xia Jingxing said calmly: "I have three strategies: upper, middle and lower!"