Yang Jing suddenly announced that he was preparing to rescue the market. This was undoubtedly good news for Henry and David, but it was not good news for Cesar and others who were immersed in reaping huge profits.
As a trader who likes to gamble in the black swan market, Cesar insists that in the financial market, one cannot be soft-hearted, as being soft-hearted can only bring about catastrophic disaster.
Although Cesar is also very clear that a global plunge like today's will definitely not last long, but judging from the current situation, even if it lasts until today's closing, the Dragon Fund will gain much more than it does now.
So, Cesar looked at Yang Jing with a very puzzled expression, as if asking "why".
Yang Jing raised his hand to look at his watch, knowing that another big trend was about to come. It was absolutely not possible to go against the trend at this time, as that would only result in him getting hurt.
As I said before, going with the trend is the best choice a top speculator can make.
So Yang Jing said to Cesar very decisively: "Give the order, close all positions and go long!"
After getting a positive answer from Yang Jing, Cesar could no longer remain calm.
"Boss, why do we close our positions now? According to the current trend, the market is likely to continue to fall. Why don't we go long?"
Yang Jing glanced at Cesar and said with certainty: "Give the order first, and you will know the reason in a moment."
Although Cesar was confused about Yang Jing's order, he still carried it out well.
Under Cesar's orders, traders controlling hundreds of accounts in dozens of countries around the world began to act quickly. Within just a few minutes, a huge amount of long contracts suddenly appeared.
Closing a short contract is equivalent to going long.
Under this market situation, long contracts will not appear at all, and no one will go long at this time. However, there are a lot of short contracts waiting to be traded. These short contracts cannot be traded at all, because the selling volume is too large and the market has been on a downward trend. Anyone who sells the short contracts at this time is doing something stupid.
Therefore, the short contracts thrown out by Cesar were quickly absorbed by the huge market. At the same time, these traders also controlled those accounts and began to frantically establish long positions.
There are investors and investment institutions in the market who want to sell their long contracts, so the long position of the Dragon Fund was established smoothly. Almost as long as the long contract is posted, it can be traded immediately.
Seeing that the time was about to pass 2:00 p.m., the long position of the Evil Dragon Fund was almost established. At this time, Yang Jing asked David Anderson to announce as the CEO of KY Investment Fund that KY Investment Fund would invest no less than 8 billion US dollars to repurchase stocks.
KY Investment Fund currently holds shares in as many as 27 companies. Even in the company with the smallest shareholding, KY Investment Fund's shareholding ratio exceeds 1%.
A 1% shareholding ratio cannot be considered a major shareholder, but it can definitely be considered a large shareholder. At this time when various stocks are plummeting, KY Fund actually dared to invest so much money to repurchase stocks. This move immediately received the support of all shareholders of the 27 companies.
In today's stock market crash, major blue-chip stocks were absolutely the hardest hit. On average, the valuation of each blue-chip stock plummeted by 30%, such as General Electric fell 331%, AT&T fell 295%, Coca-Cola fell 365%, Westinghouse fell 458%, American Express fell 388%, Boeing fell 299%, **** fell 324%, Citigroup fell 346%, Alcoa fell 413%, IBM fell 296%, and General Motors fell 358%.
If the stock price continues to fall like this, the wealth of these shareholders will also be seriously reduced. As for those retail investors, they are eager to sell their stocks now. The stocks of these companies are like hot potatoes, and anyone who holds them in his hands will feel uncomfortable.
Many small shareholders could not even resist the torture of the plummeting stock prices and sold off their stocks one after another. Then, all these sold stocks were firmly taken over by the KY investment fund.
The repurchase of up to 8 billion US dollars was like a shot in the arm, which immediately made the stock prices of these companies, which were originally on the verge of death, rise instantly. Yang Jing now had an astonishing amount of funds in his hands, and now the stock prices of these companies had plummeted astonishingly. Under the combination of the two, KY Investment Fund quickly bought a large number of stocks in the market.
For example, the KY Fund originally only controlled 12% of General Electric's shares, but in less than ten minutes, this proportion rose to 68%. After submitting relevant procedures to the U.S. Securities and Exchange Commission, or SEC, the KY Investment Fund immediately became the largest shareholder of General Electric.
In addition, there are General Motors, AT&T, ****, Citibank, etc. Anyway, among the 27 companies designated by Yang Jing, except Berkshire Hathaway, KY Investment Fund became the largest shareholder investment institution of the other 26 companies in a blink of an eye.
The share prices of these 27 companies began to rise wildly due to the massive influx of funds, and the entire U.S. stock market also began to stabilize and recover.
In fact, even if Yang Jing did not repurchase the stocks of these companies, the U.S. stock market would begin to recover after 2 p.m. that day, and at one point it reached a high of 350 points, crossing the 2,000-point mark.
My dear, there is more to this chapter. Please click on the next page to continue reading. It’s even more exciting later!
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