In the fiery red era of the heavens, refrigerators are refreshed daily.

With $16 million in hand and greater freedom of action granted by the organization, Yang Guangming's mindset upon returning to Stanford was different.

In academics, he maintains a high degree of focus and dedication, which is the foundation of his identity and his best cover.

However, deep down, academic research temporarily took a back seat.

How to maximize the appreciation of this huge sum of money in the shortest time with the lowest risk has become his top priority in all his current plans.

Over the next few days, Yang Guangming transformed into a highly efficient information gatherer.

He practically lived in the Stanford Graduate School of Business library and the economics department's resource room.

There you'll find the most up-to-date publications of The Wall Street Journal, the Financial Times, Barron's, and various commodity market research reports.

He needs to understand the most accurate current market data and combine it with his understanding of the future to develop a clear plan.

After a sustained rise in the late 1970s, gold prices are currently hovering around $210 per ounce.

But he knew that with the escalation of geopolitical risks, concerns about global inflation, and the return of petrodollars, gold's status as a safe-haven asset would be amplified to an extreme degree.

This year, or more precisely, in the next few months, gold prices will embark on a spectacular surge, ultimately quadrupling by early next year.

Its magnitude and speed of increase are enough to allow anyone who invests in advance to reap returns several times or even higher.

The silver market is a particular focus of his attention.

At this time, the price of silver was still fluctuating around six dollars per ounce.

The historically famous Hunt brothers were quietly accumulating silver, and a short squeeze war aimed at manipulating the global silver market was about to intensify.

This means that silver prices will rise far more than gold in the coming year, achieving an eightfold increase and becoming an even more frenzied speculative paradise.

The crude oil market is also in turmoil.

The Iranian revolution led to a sharp drop in oil production, and with the aftershocks still lingering, a second oil crisis has already begun to take shape.

OPEC continues to push up oil prices, leading to tight supply in the spot market.

Oil prices have risen from less than $15 a barrel at the end of last year to nearly $20, but this is far from over.

Geopolitical tensions will continue to fuel oil price increases, and prices are expected to break through the $30 mark this year.

This is a clear upward trend.

Shorting long-term US Treasury bonds can also yield huge profits, but it's essential to manage the associated risks.

In the late 1970s, the United States was mired in stagflation, with economic stagnation and high inflation coexisting.

Newly appointed Federal Reserve Chairman Paul Volcker, a fighter known for his tough stance against inflation, will adopt an extremely aggressive monetary tightening policy in the coming months in order to tame the beast of double-digit and continuously rising inflation, even at the cost of sacrificing economic growth by significantly raising the federal funds rate.

A surge in interest rates will inevitably lead to a sharp drop in bond prices.

In particular, government bonds with low coupon rates and long maturities are most sensitive to interest rate changes and will experience the most severe declines.

Shorting these long-term government bonds is undoubtedly a gamble against the market's general expectations, requiring immense courage and precise timing.

But Yang Guangming knew that history had proven Volcker's determination and the ultimate effectiveness of this policy.

For him, this was not gambling, but arbitrage based on certainty.

With the goal clearly defined, the next step is to select the implementation path and partner organizations.

The sixteen million dollars he had was a considerable sum in this era, enough to attract the attention of many institutions.

But what he needs is more than just a simple trading channel.

He needs a well-funded, reputable institution that can handle large orders without alarming the market prematurely.

He needs professional risk control to cope with the huge volatility in the futures market and the pressure of margin calls.

He also needs to consider the security of funds, the secrecy of transactions, and the potential tax and regulatory issues that may arise from huge future profits.

His shortlist mainly includes two types of organizations.

The preferred choice is top-tier brokers specializing in commodity futures trading, such as Continental or Levco.

They are experts in this field, possessing substantial capital and exchange seats, capable of efficiently executing large orders, and have extensive experience in margin and risk management.

The next best option is top investment banks with commodity trading departments, such as Goldman Sachs and Salomon Brothers.

These investment banks not only provide transaction access, but also offer a full range of financial services, including financing, research support, and complex structured products.

Collaborating with them will be more beneficial for his long-term strategic planning.

While he was engrossed in his research and weighing the pros and cons of various institutions, the phone in his dormitory, which had been quiet for a while, suddenly became unusually busy.

The ringtone often rang unexpectedly, breaking the tranquility of the room.

The person on the other end of the phone usually identifies themselves as a client manager from a certain bank or a business representative from a certain investment institution.

Their tone was invariably warm and respectful, stating that "we have learned that Mr. Yang has some funds and is looking for investment channels," and strongly recommending their bank's "exclusive wealth management services" or the institution's "high-return investment products."

Clearly, the sudden appearance of this huge sum of sixteen million US dollars in his account, despite his best efforts to keep a low profile, still led the bank to mark him as a "high-net-worth client" to some extent, and the information inadvertently leaked into the market.

These individuals or partner organizations that proactively approached us have diverse backgrounds and unclear motives.

Yang Guangming remained highly vigilant about this.

He was well aware of the jungle law of Wall Street. For a seemingly young Asian man who suddenly appeared, had a lot of money, too many people wanted to get a piece of the pie, and there were even those with ulterior motives.

He responded to the calls politely but distantly, without revealing any specific investment intentions, let alone agreeing to in-depth discussions with any party.

What he needs is control, not to be led by the nose by these sharks that smell blood.

However, among the numerous calls that came in, one phone call caught Yang Guangming's attention.

That was a call from lawyer Ernest Larson.

Larson's voice was as steady as ever on the phone, but Yang Guangming could detect an unusual seriousness in it.

“Mr. Yang, I hope I haven’t bothered you.” Attorney Larson’s wording was always impeccable.

“Of course not, Mr. Larson. Is there anything I can help you with?” Yang Guangming asked.

“Here’s the thing, I’ve received a request from someone who wants to schedule a time to talk to you in person.” Attorney Larson paused, seemingly choosing his words carefully. “This person… has a rather special background, and I think it would be best if you could meet with him.”

"Oh? Who is it?" Yang Guangming became interested. Anyone who could be introduced in such a tone by Attorney Larson was no ordinary person.

“Sebastian Weinberg,” Larson stated clearly, then added, “Head of Commodities at Goldman Sachs.”

Yang Guangming's hand holding the microphone tightened slightly.

Goldman Sachs. Weinberg.

He knew all too well the weight these two words carried together on Wall Street and in the American financial world.

To ensure Yang Guangming took it seriously, Larson gave a detailed introduction to Sebastian Weinberg.

The Weinberg family, along with the Johnson family, are two pillars of Goldman Sachs, and their influence is deeply rooted in the bloodline of this top investment bank.

Sebastian Weinberg, as a direct member of the Weinberg family, took charge of the commodities department, one of Goldman Sachs' core departments, at just over thirty years old, demonstrating his capabilities, background, and ambition.

Why would someone like him take the initiative to meet this unknown international student?

Yang Guangming was somewhat surprised.

“Mr. Larson, thank you for relaying my message. May I ask what brings Mr. Weinberg to see me?” Yang Guangming asked cautiously.

“Mr. Weinberger didn’t specify the details over the phone,” Larson replied. “But he mentioned his appreciation for your recent successful commercialization of the patent and expressed interest in your future financial plans. I personally strongly recommend that you meet with him.”

Larson's voice carried a hint of admonition: "Yang, I know you are very opinionated and have an amazing business sense. But in this industry, connections and platforms are just as important, sometimes even more crucial than the funds themselves."

“Sebastian Weinberg represents more than just one division of Goldman Sachs; behind him is the entire Weinberg family and Goldman Sachs’ vast resource network. He has only recently taken office and is eager to make achievements and expand his network.”

"The sixteen million dollars you have is indeed a considerable sum, enough to tempt many people. But attracting the attention of someone like Weinberg is also an extremely important opportunity for you. Even if the cooperation ultimately fails, simply getting to know him and establishing initial contact will greatly benefit your future development."

Yang Guangming remained silent for a moment, his mind racing.

Larson's analysis hit the nail on the head.

Goldman Sachs was one of the potential partner institutions in his original plan.

His powerful commodity trading capabilities, global network, and deep political and financial resources are all things he may need in the future.

Now that the other party has taken the initiative to extend an olive branch, and from such a high-profile figure at that, this is indeed an unexpected breakthrough.

If he can establish a good working relationship with Sebastian Weinberg, his subsequent operations in the futures market will undoubtedly be much smoother, and he may even receive additional support in terms of information, financing, and risk control.

“I understand, Mr. Larson. Thank you very much for your reminder and introduction.” Yang Guangming made his decision. “I would be happy to meet with Mr. Weinberg. May I ask what the time and place would be?”

Hearing Yang Guangming's agreement, Attorney Larson's tone became noticeably more relaxed: "That's great. Mr. Weinberg is currently on a business trip in San Francisco, and he seems to value this meeting highly. If it's convenient for you, he can spare some time this afternoon. The location is a private club in the Financial District, what do you think?"

"No problem this afternoon. Please tell me the specific address and time," Yang Guangming replied decisively.

Efficiency is money, and he didn't want to miss this opportunity.

After hanging up the phone, Yang Guangming looked at the bright sunshine outside the window and took a deep breath.

A direct dialogue with top Wall Street elites might be an opportunity for him.

This is not just about the current $16 million investment; it may also be the starting point for his grander future plans.

He needs to prepare properly.

In the afternoon, Yang Guangming, dressed in a well-fitting dark casual suit, arrived at a private club located in the heart of San Francisco's financial district ten minutes early.

The club's entrance was inconspicuous, but the interior was decorated with the utmost understated luxury, featuring thick Persian carpets, glossy dark wood paneling, and priceless classical oil paintings hanging on the walls.

Everything here silently proclaims that its members are either rich or powerful.

Guided by the waiter, he came to a quiet corner by the window.

A young man who looked to be in his early thirties, wearing an impeccably tailored Italian bespoke suit and with his hair neatly combed, was already waiting there.

He was handsome, with some of the typical features of an Anglo-Saxon elite, his eyes were full of confidence, and a faint smile played on his lips as if he had everything under control.

As Yang Guangming approached, he stood up and extended his hand.

“Mr. Yang? I’m Sebastian Weinberger. It’s a pleasure to meet you.” His handshake was firm and brief, with just the right amount of warmth.

“Mr. Weinberg, I’ve heard so much about you. I’m Yang Guangming. Thank you for your invitation.” Yang Guangming responded politely and calmly. After the two were seated, the waiter quietly brought coffee and water.

“The Blue Mountain coffee here is pretty good, I hope you like it,” Sebastian Weinberg said casually, his demeanor exuding a relaxed air cultivated from being immersed in a top-notch environment since childhood.

"Thank you." Yang Guangming picked up his coffee cup, sniffed it gently, and then took a small sip. "It's indeed very fragrant."

After a brief exchange of pleasantries, Sebastian Weinberger cut straight to the point without beating around the bush, demonstrating his efficient and pragmatic style.

“Mr. Yang, your vision and courage in patent operations are impressive.” Weinberger got straight to the point and spoke sincerely. “To be able to complete such a large-scale, high-value asset monetization in such a short period of time at such a young age is a rare case, even at Goldman Sachs.”

“You flatter me, Mr. Weinberg. There was an element of luck involved,” Yang Ming replied modestly, but inwardly he was wary, knowing that the other party had a very deep understanding of his situation.

“Luck always favors the prepared mind.” Weinberg smiled slightly, his gaze becoming more focused. “I heard about your brilliant deal with Intellectual Property Capital Partners. Twenty-two million dollars, all in one go. That’s not just luck, but also a precise judgment of value and decisive decision-making.”

He paused, then continued, "A young person like you, with a keen business sense and strong execution ability, must already have a very clear plan for this huge sum of money that you have suddenly acquired. I am very interested in it."

Yang Guangming understood immediately; the real show was about to begin.

Meeting Weinberg's probing gaze, he frankly stated, "I do have some initial ideas. Money only creates value when it's in circulation; letting it lie dormant in an account is the most unwise choice."

“That’s true.” Weinberg nodded. “I wonder if Mr. Yang would be willing to disclose your next investment direction? Of course, if it’s inconvenient, I completely understand.”

Yang Guangming paused briefly for a moment.

He realized that this was an opportunity to demonstrate his value and attract the other party's attention.

If we only talk in generalities, it will probably be difficult to arouse the real interest of this well-informed Mr. Weinberg.

He needs to demonstrate the professionalism and insight that match the amount of money he's receiving.

“Since Mr. Weinberger has asked, I might as well be frank.” Yang Guangming put down his coffee cup, his tone calm and clear. “My next target is the futures market.”

A barely perceptible glint flashed in Weinberg's eyes; he was clearly very interested: "The futures market? Which area?"

“We’re mainly focusing on a few areas,” Yang Guangming said slowly. “Precious metals, primarily silver and gold. Energy, mainly crude oil. And… fixed-income products, I plan to choose long-term US Treasury bonds.”

He carefully observed Weinberg's reaction with every word he uttered.

When he mentioned “choosing long-term U.S. Treasury bonds,” he clearly saw Weinberg’s eyebrows twitch slightly, and he unconsciously sat up straighter.

“A very interesting combination,” Weinberg mused, his fingers tapping unconsciously on the smooth mahogany table. “Could you share the basis for your judgment? Of course, this is purely a professional discussion.”

The sun knew full well that the moment of truth had arrived.

There's no need to provide a specific plan; even if you did, the other party might not agree. However, the relevant knowledge he demonstrates must be sufficiently professional.

He gathered his thoughts and stated in a calm tone:

"Regarding silver and gold, I believe the main drivers are inflation expectations and geopolitical risks."

Global inflationary pressures are currently immense, the oil crisis triggered by the Iranian revolution continues to escalate, and the credibility of the US dollar is being challenged.

Precious metals, especially gold, have historically performed well during periods of inflation.

I've noticed some unusual changes in silver market inventory and position structure recently, suggesting that large funds may be secretly accumulating positions.

He only touched on the point and did not mention any more detailed analysis.

"As for crude oil, OPEC is determined to cut production, global demand is still growing, and the supply increase from non-OPEC oil-producing countries is limited."

Any geopolitical turmoil could further drive up oil prices. Current prices do not yet reflect their potential risk premium.

And long-term government bonds…

Yang Guangming paused, looking directly at Weinberg, "It's based on the judgment of a shift in the Federal Reserve's monetary policy."

Since taking office, Chairman Paul Volcker has faced double-digit core inflation. I see no more effective options than adopting an extremely hawkish tightening policy and drastically raising interest rates.

A surge in interest rates inevitably leads to a sharp drop in long-term bond prices; this is a basic economic principle.

His arguments were logically clear, supported by strong data, and demonstrated unique insights into both the macroeconomic situation and the micro-market.

Although some of these judgments seem quite bold, or even radical, they are not unfounded.

Yang Guangming's goal wasn't to get Sebastian Weinberger to agree with his words; he just needed to demonstrate his professionalism.

After listening, Sebastian Weinberg remained silent for a good ten seconds.

He scrutinized the young Asian man before him again, his eyes filled with surprise and scrutiny.

He originally thought that the other party was just a very lucky young man or a talented young man in certain specific fields.

But the depth and breadth of this forward-looking analysis of the global macroeconomy and financial markets far exceeded his expectations.

This is a perspective that an ordinary international student would never have.

This further convinced him that Yang Guangming's success was by no means accidental, and that there might be deeper wisdom or information channels hidden behind it.

“Very…brilliant analysis.” Weinberg spoke slowly, his tone filled with undisguised admiration. “Mr. Yang, your insight has surprised me. In particular, your prediction of the Federal Reserve’s policy coincides with, and is even more decisive than, the predictions of some of our senior analysts.”

He then changed the subject, his tone becoming more enthusiastic: "The areas you've chosen are precisely the areas that I, and Goldman Sachs' commodities division, focus on and excel in."

"Oh? What a coincidence." Yang Guangming appropriately showed a hint of "surprise".

“Perhaps this is fate.” Weinberg laughed, his smile becoming much more sincere. “Mr. Yang, since your investment direction aligns so well with Goldman Sachs’s strengths, and I deeply admire your exceptional judgment, is there any possibility of us collaborating?”

He finally revealed the core purpose of the meeting.

"I wonder what exactly Mr. Weinberg is referring to in terms of cooperation?" Yang Guangming asked cautiously.

“It’s very simple.” Weinberg leaned forward, his gaze intense. “If you trust me and Goldman Sachs, we can provide you with a full range of services. You can entrust your funds to Goldman Sachs for management and operation. Within my authority, I can negotiate the most favorable trading commissions, financing rates, and margin ratios for you.”

Yang Guangming did not answer immediately. He picked up his water glass, took a small sip, and seemed to be seriously considering it.

In fact, he has an instinctive resistance to entrusting his funds entirely to others for management.

He must maintain absolute control over investment decisions.

“Mr. Weinberg, I naturally trust Goldman Sachs’ strength and reputation. And after today’s exchange, I have no doubt about your personal abilities.”

Yang Guangming put down his water glass, his tone sincere and firm, "However, regarding specific investment decisions, I prefer to make them myself. This is not due to a lack of trust, but rather a personal habit. I hope to personally grasp the pulse of the market and make every crucial judgment."

He saw a fleeting hint of disappointment in Weinberg's eyes, but it quickly vanished.

Yang Guangming changed the subject and continued, "However, I very much hope to leverage the professional expertise of a top-tier platform like Goldman Sachs for specific transaction execution, fund custody, risk monitoring, and the complex tax and legal issues that may arise later."

If Goldman Sachs is willing to provide support in these areas, I think this would be a mutually beneficial cooperation model for both of us.

He proposed a compromise: he would retain investment decision-making power, while Goldman Sachs would provide execution and support services.

This ensured his control while allowing him to fully leverage Goldman Sachs' platform advantages.

After listening, Sebastian Weinberg pondered again.

He originally hoped to obtain full discretionary power of attorney so that Goldman Sachs could earn a higher fund management fee.

However, Yang Guangming's suggestion is not unacceptable.

After all, a trading volume of sixteen million US dollars would be a considerable income even if only execution commissions were earned.

Moreover, he keenly sensed that this young man was no ordinary person, and his future potential and the business he might bring were worth looking forward to.

Establishing a good working relationship with him may be more valuable in the long run.

More importantly, Yang Guangming's professional abilities aroused his strong interest, and even a hint of anticipation—he wanted to see how far this young man could go in the ever-changing market based on his own judgment.

“I respect your decision, Mr. Yang.” Weinberg quickly smiled, regaining his composed and elite demeanor. “Maintaining decision-making independence is indeed very important for true investors. Goldman Sachs is very happy to provide clients like you with top-notch trade execution and comprehensive services.”

He then began to explain in detail the support that Goldman Sachs could provide:
"We can open a dedicated institutional account for you, providing you with the most timely and comprehensive market research information and internal analysis reports."

Our team of traders is highly experienced and capable of executing large orders efficiently and discreetly, minimizing market impact.

In terms of risk control, we have an advanced system that can monitor your position risk and margin status in real time and provide timely warnings.

Regarding financing, we can offer highly competitive leverage based on your asset situation.

Furthermore, regarding the capital gains tax and other issues you mentioned, we have one of the top tax and legal advisory teams in the United States, who can provide you with professional planning advice to ensure compliance and optimize your tax structure.

These are exactly the conditions that Yangguangming needs most right now.

“That sounds perfect.” Yang Guangming nodded in satisfaction. “So, regarding transaction commissions and financing rates…”

In the following time, the two had an in-depth discussion on the specific details of the collaboration.

Sebastian Weinberger indeed showed great sincerity, offering very favorable terms in terms of commission and interest rates, even better than some of the institutions that Sunshine had previously inquired with.

Clearly, Weinberger genuinely wanted to facilitate this collaboration and intended to develop Sunshine into a significant client.

The negotiation process was professional and efficient.

Yang Guangming is calm and experienced, and he fights for every inch of key terms; Weinberger, on the other hand, knows when to advance and when to retreat, insisting on principles while being flexible on details.

Both parties demonstrated excellent professionalism and business acumen.

Finally, as the coffee cooled, the two reached a basic agreement.

Yang Guangming agreed to open an account with Goldman Sachs and transfer the vast majority of his funds there for subsequent futures trading.

Goldman Sachs, in turn, provided the full suite of high-quality services it had previously promised, along with the most favorable transaction terms and financing support.

“It’s a pleasure to work with you, Mr. Yang.” Sebastian Weinberg extended his hand to Yang Guangming again, this time with a more sincere smile. “I believe this will be a successful start.”

“It’s a pleasure to work with you, Mr. Weinberg.” Yang Guangming shook his hand firmly. “I’m also very much looking forward to it. I will prepare the relevant documents as soon as possible and handle the account opening and fund transfer procedures.”

“I will have my assistant follow up throughout the process to ensure everything goes smoothly,” Weinberg added. “In addition, for ease of communication, I will assign a senior account manager to be directly responsible for you. You can contact him at any time if you need anything, or you can contact me directly.”

He handed me a personal business card with only his name and a direct phone number.

Yang Guangming solemnly accepted it, knowing that it represented Weinberger's recognition and respect for him.

Leaving that luxurious and secluded club, the cool evening sea breeze of San Francisco brushed against my face.

As Yang Guangming walked along the street lit up at dusk, he felt very happy.

The meeting with Sebastian Weinberg went even more smoothly than he had expected.

He not only successfully found a powerful and reliable platform to operate his enormous funds, but more importantly, he used this opportunity to gain initial access to the core network of people at the very top of Wall Street. (End of Chapter)