They arrived at the most luxurious King's Mansion, Building 12 in Manhattan. Linda was already waiting outside.
"Chen, it's been a long time." Linda hugged Shen Fang and gave him a big kiss. This man had brought her hundreds of millions of dollars in profit. He was practically a god of wealth, even closer than her own father.
Shen Fang covered his face and looked at the curvaceous Linda: "Hey, be careful my darling might get jealous."
Linda looked at Ivanka and Zhukova: "Do you mind?"
Ivanka smiled and said, "I don't mind."
Linda hugged Chen Fang: "Let me introduce you to my parents. And some other important people who are here today."
Under Linda's guidance, Shen Fang met her father and mother.
“Hey, Daddy, Mommy, this is Chen, and his two female companions, Ivanka and Zhukova, who are my good friends.”
When Shen Fang learned that Linda's mother's name was Fick Morgan, he finally understood Linda's true background.
The direct descendants of the Morgan family, whose origins lie in the early 17th-century gold rush, initially operated coffeehouses and inns before acquiring canal stocks. The family monopolized the financial markets through business strategies, and their business model continues to resonate today. Founder George Peabody was one of the world's leading financial tycoons, and his success represents the rise of Wall Street.
A financial giant—no wonder Linda rose through the ranks at Goldman Sachs so quickly at such a young age. Don't tell me that America doesn't value aristocracy or status, only capital; that's impossible. People from prominent families receive preferential treatment wherever they go.
Following that, Zhang Gui met the direct descendants of the Pritzker, Newhouse, and DuPont families, all of whom can be considered the most established and wealthy families in the United States, involved in finance, real estate, hotels, chemicals, and media.
“Chen, this is Mr. Julian Robertson, the greatest investor on Wall Street.”
"Philip Fisher, one of the pioneers of modern investment theory, the father of growth stock investment strategy, a godfather-level investment master, and one of the most respected and admired investors on Wall Street. He is also my godfather."
“Mr. Peter Lynch is a stock investor and fund manager. He was also the vice chairman of Fidelity Investments and a member of the board of directors of Fidelity Funds Custodian.”
Shen Fang shook hands with several industry giants and legendary figures with great respect. Although these individuals were semi-retired, the power behind them was probably beyond even Soros's reach.
"This is Mr. George Soros and Mr. Warren Buffett. They are also the only two stock market gurus on Wall Street."
Shen Fang looked quite dashing, with gray hair, glasses, a black suit, a cigar in his mouth, and a glass of red wine in his hand, exuding an air of arrogance. His face was filled with the unruly demeanor of George Soros, the Western Poison.
There's also Warren Buffett, who wears glasses and has a more amiable expression.
They can all be considered legendary figures in financial history.
George Soros, holding his wine glass, chuckled and said, "Compared to me, Warren is no stock market guru. I am the only stock market guru!!!"
Warren Buffett chuckled and shook his head: "George, what's the point of arguing about this? It's just an empty title."
Soros is the founder of Quantum Hedge Fund. He made his fortune through "macro" investing, or betting on the major trends that drive the rise and fall of global stocks, bonds, and currencies.
The Quantum Fund, founded by Soros in 1973, peaked in 1998, managing $22 billion in assets.
Soros's most impressive achievement was his attack on the British pound, which forced Britain to withdraw from the European Monetary Mechanism. In 1997, he launched another attack on the Southeast Asian currency markets, with South Korea, Japan, Singapore, Malaysia, and Thailand all falling. If it weren't for the support of China Asset Management, Hong Kong stocks might have been in serious trouble, thus triggering the Asian financial crisis that threatened the world.
For a time, many people regarded him as a god, while others regarded him as a demon.
George Soros, the "financial tycoon," is also a great philanthropist, constantly donating huge sums of money, amounting to as much as $200 million annually, including to help the people of Bosnia rebuild their lives after the war.
Financial Street's number one "sniper".
If you had to describe these two stock market gurus in one word, it would be Soros: ruthless, and Buffett: steady.
Of course, in addition to stability, you also need your own way of thinking. When others are panicking, you need to have your own thoughts.
"You shouldn't expect others to tell you what you should do; you should do things that you understand yourself."
How does Buffett face fear when it comes?
1973-1975: Decline of 56%
"The time to invest has come."
Beginning in the 1970s, the U.S. stock market experienced a significant overall decline. Berkshire Hathaway's stock price fell from over $90 per share in 1973 to around $40 per share in October 1975, a drop of 56%.
In 1974, the US stock market was at a very low level, with almost every company having a price-to-earnings ratio in the single digits. This was a rare period for Wall Street: American companies were being abandoned, nobody wanted to continue holding stocks, and everyone was selling them.
During this period, Berkshire Hathaway's own stock price also experienced a sharp decline. In response to the pullback, Buffett, in an interview with Forbes, said, "I feel like a very lecherous young man who has come to a land of women. It's time to invest."
In his 1974 letter to shareholders, Buffett pointed out that in 1973, Berkshire Hathaway's insurance company investments were too concentrated in common stock, which resulted in a paper loss of more than $12 million in common stock at the end of the year.
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