mchenry-crisis.org Chapter 272 This time it's a real windfall.
Chapter 272 This time it's a real windfall.
Chapter 272 This time it's a real windfall!
If Henry Goldman had another choice, he would never have come to Paine Weber Securities to watch Larry place orders and make money!
It's incredibly painful to watch someone make a fortune from a stock market crash!
What's that proverb from Queens again?
"I can't bear to see my brother eating hard bread in the hold, but I also fear he might ride past my door in a gilded carriage!!"
Henry Goldman had a complex and extremely contradictory feeling towards Larry, a mixture of conflicting emotions. Goldman despised Larry for being born in Boston yet daring to venture into Wall Street alone; he despised Larry for being young and inexperienced, but envied him for his ability to time things perfectly, like a cunning old fox on Wall Street who could bite his prey's throat; he despised Larry for being too young to effectively manage money, but envied his ability to make money like a tidal wave, and for his greed to be rewarded with even more greed!
Watching others make a fortune was the most painful thing for Henry Goldman, a Jew!
Don't rush! Don't panic! And definitely don't be jealous! I still need to use him to make even more money!
Henry Goldman kept trying to comfort himself...
At that moment, Larry was talking to Mr. Potter who had just arrived, while Goldman sat there, his hands gripping the back of the seat in front of him, his knuckles turning white!
He was filled with horror and pain. When his gaze swept over the $5 and gold coins he had bet with Larry, he felt an unbearable, gnawing pain in his heart...
But when Larry asked Mr. Porter to transfer all his remaining funds to his bank account and then turned around, Henry Goldman's face immediately broke into a warm smile, even his eyes and brows radiated sincerity.
He stood up, beaming, and said to Larry, "Congratulations, my dear brother! Your shorting of General Electric was a stroke of genius! You made over forty dollars—that's ten thousand shares!!"
Now, with the previous costs recovered, plus a profit of $173 million, and after deducting $41375 in transaction fees, the total is $2,722,525.
If we deduct the $3 margin required to buy 30 shares, then we can withdraw at least $242 million from the account!
This does not include the $24825 commission rebate for this transaction.
By the way, the last time I worked for the New York Central Railroad, the sales department still owed me $41790.
So, no matter how much money is actually left in your account, the branch will return $66615 to you!
Larry felt he couldn't be foolish enough to carry this money around anymore; he needed Mr. Porter to deposit it into his account at the National City Bank in New York!
Excellent! Excellent! With just this one transaction, I've earned enough to cover equity investment and fund follow-on investments, plus enough money to buy a house and prepare for investing in the acquisition of Bausch & Lomb!
Larry felt very gratified and happy; his journey had truly been filled with...
Well, it seems like there haven't been any major ups and downs!
On the contrary, I have been calm and at ease all the way... I have never been in a hurry or stumbling!
Okay! Larry smiled to himself.
At that moment, Mr. Porter strode over and said to Larry, "You have $2430750 in your account, plus 3 shares of General Electric stock. Are you planning to withdraw all the money?"
"243 million?" Larry tilted his head back and thought for a moment, realizing that he might have overlooked some odds, but the number wasn't too different from what he had imagined.
"Mr. Porter, let's put $200 million in the bank account. I need it!" Larry confirmed with Mr. Porter.
Mr. Potter nodded, smiled, patted Larry on the shoulder, and softly praised, "Well done!"
"Thank you!" Larry replied with a smile.
Mr. Porter looked at him and nodded, then said, "My next task is to properly allocate all the money raised by the fund, to transfer what should be transferred to Kodak, and to prepare my own next investment plan."
"Yes, Mr. Potter, please let me know if you need anything," Larry said.
Mr. Porter was about to leave, but he turned back to Larry and said, "I just looked at your trading order, and to be honest, I'm very curious why you put the final execution price at $40? I heard that when you placed the order, GE's stock price was only around $60. How were you so sure that the stock could continue to fall sharply?"
Larry smiled and gave Mr. Porter a deep look. "It's all thanks to your teachings, sir. You've shown me that stock market anomalies follow patterns. And that incredible prices often appear when the market is irrational. When the stock price reached $60, I foresaw an unimaginable drop in the last ten minutes before the close. Furthermore…"
Larry paused, then said, creating suspense, "It's often like this: for example, if the price of gold is to rise, the first 50% of the increase might take several months, but when it climbs the remaining 50%, because people have entered an irrational phase, that last 50% increase might be completed in just a few days. Right?"
(End of this chapter)