Hong Kong variety show: I Am a Tycoon

Chapter 273 Black Monday
Wei Li now manages the businesses under Chen Jiajun, such as Longteng Fund, and is considered a close confidant of Chen Jiajun.

Upon hearing Chen Jiajun's question, Wei Li smiled and said, "What's so strange about that? The stock market has been doing very well lately, and many ordinary citizens have taken the opportunity to enter the market and make a small profit."

Chen Jiajun frowned and said, "But do you think this is normal? These aunties who don't know anything about grocery shopping are talking about the stock market all day long."

Wei Li paused for a moment and said, "Boss, do you think there's a problem?"

"Of course there's a problem, and a huge one at that." Chen Jiajun glanced at the date, and words like "Black Monday" and "October stock market crash" immediately flooded his mind.

He had been wondering if he had missed something, but now he suddenly understood.

So Chen Jiajun said directly to Wei Li, "Inform me that the landlords' association is playing cards at the Peninsula Hotel this afternoon."

Wei Li immediately became anxious and said to Chen Jiajun, "Boss, do you know something? Tell me."

It's worth noting that Longteng Fund has invested in quite a few projects, so if something goes wrong at this point, it could cause a lot of trouble.

Chen Jiajun waved his hand and said, "I'll tell you tomorrow after I finish playing cards tonight."

Wei Li was frantic, but he was helpless against the mysterious Chen Jiajun.

He could only watch with a resentful expression as Chen Jiajun hurriedly left the office.

In the afternoon, several luxury cars parked in front of the Peninsula Hotel.

Several top agents, including Sima Xiang, Huang Shitong, Chen Zhan, Mai Shengyun, Lin Rundong, and Luo Minsheng, were all present.

After all, the big boss had made an agreement that no matter what they were doing, they had to come over immediately.

"Xiao Luo, you've been working for the big boss for the past two years. Do you know why he wants to see us?"

Mai Shengyun asked Luo Minsheng directly.

Luo Minsheng spread his hands and said, "How would I know about the big boss's affairs? But the fact that he's in such a hurry to call us over means it must be something important."

Luo Minsheng was also completely baffled by the matter and couldn't explain it at all.

The group stopped arguing and went straight to their usual private room where they played cards.

Chen Jiajun was already waiting for them there.

Upon meeting, the group immediately bowed and greeted each other, "Big Boss."

Chen Jiajun then came to his senses and said to the group, "Please sit down."

After the waiter left, Chen Jiajun began shuffling the cards, saying to everyone, "The Hong Kong stock market has been rising steadily lately, everyone must have made a lot of money recently, right?"

The landlords' association established by Chen Jiajun was a loose organization, although it mainly helped Chen Jiajun with his work.

However, when they have free time, they also do some side jobs, such as acting as consultants for certain companies.

This kind of thing is perfectly normal for top agents like them.

Sima Xiang said with a smile, "With such good conditions, you could make a fortune even if you bought with your eyes closed."

Chen Jiajun nodded and said, "You guys are experts in this field, don't you feel something's off?"

Huang Shi's colleagues, whose minds worked the fastest, immediately and cautiously asked, "Boss, have you received any news?"

Chen Jiajun has information, but even if he reveals it, no one will believe him.

After all, this kind of thing is a bit too fantastical, so he said calmly, "There is some news, and it came from the United States, and the news is absolutely reliable."

Upon hearing Chen Jiajun's words, the members of the landlords' association immediately became extremely alert.

Chen Jiajun glanced at everyone and then slowly said, "I'm going to short the Hong Kong stock market."

"What?" Everyone was taken aback upon hearing Chen Jiajun's words.

"This... Boss, you're not serious, are you?" Mai Shengyun asked, picking at his ear with a look of surprise.

Chen Jiajun said calmly, "That's right, I want to short Hong Kong's stock market before the stock market crash."

Sima Xiang and Huang Shitong's expressions immediately turned serious: "Boss, doing this will require a lot of funds."

These two are arguably the people who understand Chen Jiajun's thoughts the most.

Since there's no room for maneuver in this matter, we might as well go with the flow and make a killing.

Although doing so could very likely lead to many companies or individuals going bankrupt, it also gave Chen Jiajun an opportunity.

An opportunity to buy up all of Hong Kong's Chinese-owned businesses.

Of course, just the short selling step alone requires a huge amount of capital.

This amount cannot be achieved in the hundreds of millions or billions.

It will require at least tens of billions of dollars.

Chen Jiajun had already invested the money he earned in Japan after repaying HSBC in one lump sum.

Not to mention the subsequent investments by China Power Company.

We simply don't have enough working capital.

Chen Jiajun smiled and said, "Don't worry, I have a way with the funding. But can you handle this matter?"

Upon hearing Chen Jiajun's words, the expressions on everyone's faces turned serious.

Only Sima Xiang and Huang Shitong said with serious expressions, "Boss, we will do our best."

Chen Jiajun said with a smile, "Soon, as long as you have confidence, you can play cards."

In this game of cards, everyone from the landlord's group was somewhat distracted, and in the end, only Chen Jiajun emerged as the big winner.

This put Chen Jiajun in a very good mood, and he left immediately after the game ended.

After the big boss Chen Jiajun left, the group sat down and started talking.

Among them, Mai Shengyun was the oldest and the most conservative: "Ah Xiang, Ah Tong, what were you thinking? You didn't even object to such a crazy plan as shorting the Hong Kong stock market?"

Chen Zhan added, "This is extremely difficult to implement, especially considering the intelligence..."

Sima Xiang chuckled and said to the group, "Do you think the big boss took too much of a risk this time?"

The group didn't speak, they just nodded.

Anyone with eyes can see that Chen Jiajun's actions were not just risky, but rather somewhat insane.

Huang Shitong sneered, "So you're all just employees, and Mr. Chen is the real boss. You haven't grasped the implications behind this at all. Let me ask you, what would happen if the stock market crash really happened, as the big boss said?"

Luo Minsheng frowned and said, "Many companies in Hong Kong may go bankrupt, and in more serious cases, it may affect Hong Kong's economic development."

The others nodded in agreement.

Huang Shitong continued, "If even you can see it, how could the big boss not see it?"

To be honest, the members of the landlords' association all greatly admired Chen Jiajun.

It was because of Chen Jiajun's keen insight.

So this time they were just a little uneasy, and did not question it on the spot.

“The big boss has realized how much damage a stock market crash would cause,” Huang Shitong continued. “At that time, the entire Hong Kong economy might collapse.”

"What are those Chinese businessmen and ordinary small merchants supposed to do? You don't actually think those British devils would be so kind as to spend time and effort saving a precarious colony, do you? Let me tell you, those damned devils are directing us to empty our pockets of the last penny."

By the time Huang Shitong finished speaking, many people had already figured out what he meant.

Take Luo Minsheng, for example.

"Uncle Tong, do you mean... the big boss is preparing to bail out the market?" Luo Minsheng asked tentatively.

Sima Xiang said with a smile, "Not only should we save the market, but we should also become a banner for Chinese businessmen, just like Mr. Fok Ying-nam."

Hearing this, everyone understood why Chen Jiajun had gathered them together to handle this matter.

"So this matter is very important, and everyone must be on their toes. Whether the big boss can successfully take over depends on how we do things. Furthermore, the more money we make today, the more companies we can save later," Huang Shitong reminded everyone.

The members of the landlords' association all nodded in agreement, but Luo Minsheng hesitated and asked, "Then...should we remind some of the Chinese businessmen about these things?"

"Let the big boss decide this matter; he'll definitely remind some people," Sima Xiang said, waving his hand.

The fewer people who know about this, the better.

However, Chen Jiajun does remind some people, such as the left-wing businessmen of Fok Ying-nam's faction.

Whether Chen Jiajun believes it or not is beyond his control, since the matter has not yet been verified.

In any case, his only obligation was to notify.

As for funding, Chen Jiajun does not intend to use HSBC in Hong Kong.

Last time, Chen Jiajun was tricked by the loan withdrawal, so it would be a lie to say that Chen Jiajun doesn't hold a grudge.

So this time, they contacted Citibank in the United States.

The relationship is actually quite simple: Citibank is one of the shareholders of Macau's Aoyu Group.

Once both parties have a basic understanding of each other, the matter of lending money becomes much easier to discuss.

Citibank Hong Kong is fully qualified to conduct business, and Chen Jiajun intends to conduct this loan as a personal transaction. After making his arrangements, Chen Jiajun quickly entered the VIP room.

A guy named Lee Allen greeted him.

Because we had communicated beforehand, we didn't waste any time with small talk and got straight to the point.

Chen Jiajun borrowed a total of HK$10 billion from Citibank using shares of SJM Holdings and CLP Power.

That is, around 1.2 billion US dollars.

Adding to this Chen Jiajun's deposit in a Swiss bank overseas, it's enough to shake up the entire Hong Kong stock market.

Of course, the premise is that he has to win; otherwise, Chen Jiajun could declare bankruptcy very soon.

Li Ailun was somewhat surprised by Chen Jiajun's generosity and, as usual, asked, "I wonder what Sir Chen intends to do with this money?"

“Investment,” Chen Jiajun said casually, taking a puff of his cigar. “As you know, China Power Company has recently expanded its operations to Brunei and the Philippines, and I need a large sum of money to keep the company running smoothly.”

Chen Jiajun is not making this up; CLP Power's investments in Brunei and the Philippines are verifiable and can be investigated.

Therefore, there is no problem with Chen Jiajun's loan.

Citibank has no reason to refuse a high-quality client like Chen Jiajun.

“Large loans require a lengthy approval process. I wonder when Sir Chen will need them?” Li Ailun said with a smile.

Chen Jiajun said calmly, "Of course, the sooner the better. But will Citibank be as unscrupulous as HSBC and pull the loan out midway?"

HSBC's withdrawal of loans from Chen Jiajun has become an indelible stain.

Although HSBC is trying its best to cover this up, any enemy with a certain status or position already knows about it.

This incident also damaged HSBC's business in Hong Kong, which greatly angered Sir Michael Sandberg.

Li Ailun was naturally aware of this matter and said with a smile, "Our Citibank has a good reputation, and this will absolutely not happen."

Li Ailun spoke with absolute certainty, after all, Chen Jiajun had already proven his financial strength to everyone in Hong Kong.

Not only did it repay all its loans when HSBC withdrew its loans, it even went so far as to acquire Hong Kong Electric Holdings and CLP Power.

Citibank's service is absolutely top-notch, especially in its treatment of high-value customers.

If you are considered a valued customer, you will be treated like royalty.

They would even do the most trivial things to build relationships with customers.

This allows customers to access a range of services at Citibank, including asset management, personal finance, consulting, and financial insurance.

The procedures for such large loans are extremely complicated and take at least several months.

However, Chen Jiajun is not in a hurry. It is only April now, and the "October stock market crash" is still a long way off.

However, Chen Jiajun was not in a hurry, but Huo Yingnan and other left-wing businessmen who received Chen Jiajun's call were somewhat anxious.

Chen Jiajun's words were incoherent and left the big bosses completely baffled.

So they invited Chen Jiajun over that day to have tea and chat.

Chen Jiajun guessed that the big bosses were also uneasy, so he gladly went to the banquet.

When Chen Jiajun arrived at the teahouse, all the big bosses had already arrived.

After they were seated, Bao Yugang couldn't wait to ask, "Sir Chen, what exactly did you mean on the phone? You were being so vague."

Chen Jiajun said with a smile, "Sir Bao, this is just a guess. How should I tell you that?"

Henry Fok said directly, "There are no outsiders here, so just say what you need to say."

Chen Jiajun nodded and said, "My friends in the United States have learned that the US stock market will experience turmoil in the next few months, and I think it will affect Hong Kong, so I'm just giving you a heads-up."

"Is it really that simple?" Bao Yugang clearly didn't believe it.

Not to mention Bao Yugang, Huo Yingnan, Lin Mingze, He Xin and others all didn't believe it.

They had collaborated with Chen Jiajun more than once or twice, and knew that Chen Jiajun never did anything without being sure of success.

If this is suddenly brought to everyone's attention, then this very thing is very likely to happen.

Anyway, this isn't the first or second time that strange things have happened to this kid. Last time, they made a lot of money with Chen Jiajun after the incident in Japan.

"I've heard that you recently took out a loan from Citibank," Lin Mingze said meaningfully. "I heard it was a considerable amount."

“Tell me, are you trying to hog all the food?” Bao Yugang said with a laugh.

Chen Jiajun had no choice but to surrender, saying, "It's not that I want to hog all the benefits, but I myself am not confident about this matter. It's not appropriate to just make empty promises and try to get everyone on board."

The fact that Chen Jiajun learned about the stock market crash was ultimately due to his "unique" personal experience.

This is something I definitely can't tell the big bosses.

Moreover, this stock market crash did not have any obvious signs, unlike the 08 subprime mortgage crisis.

Therefore, Chen Jiajun did not immediately pull several people into the car, even if he did, they might not believe him.

Although the big bosses looked suspicious, they gave up asking further questions when they saw Chen Jiajun's calm demeanor.

Moreover, Chen Jiajun has already said that he will definitely bring a few people along when the time is right.

After all, the subsequent events would have required the support of these big bosses.

After chatting for a while, Chen Jiajun readily took his leave.

In the following period, Chen Jiajun noticed that the Huo, Bao, and Lin families had become less active in the stock market.

Although there hasn't been a full-scale retreat, there has been a halt to expanding investments in the stock market.

Chen Jiajun immediately laughed. It was obviously impossible to escape this global stock market crash, and it would be good to avoid some losses.

For the next period of time, Chen Jiajun waited for the Citibank loan to be approved.

The landlords' association is also making preparations.

In August, the loan from Citibank finally came through.

Chen Jiajun then allocated the funds to the members of the landlords' association.

On an unremarkable day in mid-October, after the New York trading session opened, the Dow Jones Industrial Average fluctuated briefly before beginning to decline, showing no signs of stopping.

Panic gripped the New York Stock Exchange as investors frantically sold their shares, to the point of not haggling over prices.

This magnitude of the drop immediately startled all investors.

Just one day later, stock markets in France, the Netherlands, Belgium, and Singapore also experienced varying degrees of decline, with drops of around 10%.

Brazil and Mexico fared the worst, with drops as high as 20%.

No one could stop such a dramatic drop, not even the United States.

After the initial two days of sharp declines, investors around the world panicked and sold off their US dollars in the foreign exchange market.

They also began a frenzy of buying up various hard currencies, which caused the value of the dollar to plummet.

This vicious cycle caused the Dow Jones Industrial Average to decline again.

This forced the Hong Kong stock market to close for four days. However, when the market reopened, the backlog of sell orders that had been building up for several days surged out, and the market was simply unable to accept the orders.

At the close of trading, the Hang Seng Index in Hong Kong plummeted 112 points, a daily drop of 33.33%, setting a new record for the largest drop in the history of the world's stock markets.

Meanwhile, Hong Kong was already in a state of widespread devastation.

Ordinary citizens who previously made money in the stock market have stopped their extravagant spending.

There's no mention of things like "a big shot lighting a cigarette" or "shark fin soup with rice."

Instead, many more people were preparing for leaps of faith on the various skyscrapers.

"woo woo woo woo."

The sirens blared again; this was the umpteenth time already.

The cleaners silently swept up the bloodstains on the ground.

If you see too many dead people, you become numb to it.

Recently, there have been a series of people jumping off rooftops, their heads exploding like watermelons upon hitting the ground.

Every day, corpses float ashore at the port's docks.

They're all guys who lost everything in the stock market.

Among them are even many small business owners.

In the midst of the stock market crash, almost no one was spared.

Those who were less able to withstand risks became the first victims.

Especially those who borrow money to speculate in stocks, not only do they die, but they also leave their debts to their families.

(End of this chapter)