The contents of Xing Baohua's gambling agreement were revealed that very day.
Major media outlets are reporting it wildly, saying this Asian man has gone mad. What does 13 billion US dollars even mean? The key point is that he's not optimistic about the US economy and is betting on a two-point drop.
There's one more question I haven't asked: at what point will Xing Baohua, this Easterner, be bearish on the two indices?
Then, let's look back at the current indexes. The Dow Jones is over 2600 points, almost 2700.
To expect the Dow Jones to drop 1,000 points in six months? Are you kidding me?
Wall Street is in an uproar.
Everyone thought this was an unacceptable betting agreement. How did Lehman Brothers manage to fool this big Eastern fool so badly?
As a result, the wolves on Wall Street, like lambs just coming out of the gate, all wanted a bite.
It came with various betting agreements similar to those of Lehman Brothers, even at lower rates than those set by Lehman Brothers. As long as Xing Baohua dared to gamble, that was enough.
Huang Xingyao was busy, and not just anyone could meet the boss. As the nominal branch manager, he began to receive many familiar friends.
There was no attempt to offer words of comfort, only to present Huang Xingyao with the betting agreement.
These are the friends you make in business. You might casually chat at a gathering, or even have drinks or coffee together.
Friends who used to talk about everything now only see greed in their eyes.
Huang Xingyao compiled no fewer than thirty agreements and showed them to Xing Baohua.
He really couldn't understand why his boss would sign a loss-making agreement. Losing a small amount wouldn't matter, but losing so much meant that Haina was going to go bankrupt.
Xing Baohua glanced at the performance-based agreements; they were all under 1 billion yuan.
But all of these add up to a total of over 17 billion US dollars.
Both of the betting indexes are very low, about 200 to 300 points lower than Lehman Brothers'.
If the Dow Jones Industrial Average, which Xing Baohua bet on, falls to 700 to 800 points, then these companies will start paying out.
Xing Baohua would absolutely accept such a good thing.
But the key point is that he doesn't have enough funds to gamble.
Then the only option is to continue taking out loans.
Moreover, it's not a credit loan, it's a mortgage loan.
Even giants like Morgan Stanley, Citigroup, and HSBC have come after hearing about it.
They prefer high-quality mortgage loans.
In particular, the shares of three profitable groups: Xing Baohua Rice Technology, Huahong Group, and Hainan Group.
Since these groups are not publicly listed, if you want to acquire shares, you can only wait for an opportunity to see if any shareholders withdraw or sell their shares due to a lack of funds.
There are also cases like Xing Baohua, who mortgaged shares that couldn't be repaid. These kinds of mortgaged shares are generally easy to sell and can yield the greatest profit.
After a series of assessments, Xing Baohua's shares were valued at 20 billion yuan.
In terms of market capitalization, each of Xing Baohua's three companies could reach 20 to 30 billion yuan, or even more.
The least valuable one here is Hainan Shares.
The highest valuation belongs to Dami Technology, after all, it has a physical manufacturing industry and highly profitable products with almost no competitors.
Xing Baohua secured $21 billion in financing from three banks, which he used to cover those betting agreements.
In fact, Xing Baohua was unaware that his actions had triggered risk and danger indices in various banks across the United States.
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