America's Road to Wealth

Follow the rules and Wall Street convention.

Most private equity funds, except as specified in the contract.

During the closed period, profits and losses may not be disclosed to investors.

But if you insist on revealing it, that’s totally fine.

It depends on how the contract is signed and the relationship between the LP and the investment manager.

Smith Capital now discloses the status of the first phase of Smith’s private equity fund three to four months in advance, which is completely legal.

For the LPs present who participated in the first phase of Smith’s private placement.

They are even more eager to know in advance so that they know how much money they have made or how much they have lost.

Smith Capital disclosed a half-year profit of US$17.665 billion.

LPs are even more impatient and eager to know the status of the first phase of private placement.

"The first phase of Smith Capital's private equity fund has raised a total of US$3 billion. The minimum subscription amount starts at US$1 million."

"The closing period is 180 days, and the redemption period is also 180 days."

The information disclosed by David on the PPT.

The first one didn’t surprise everyone.

A private placement amount of three billion US dollars is relatively large, but it is not uncommon on Wall Street.

The 180-day closing period and redemption period are a bit too short.

You should know that for ordinary private equity funds, the closing period is usually more than three years.

The redemption period is often five to ten years, and some can be as long as fifteen or twenty years.

The 180-day redemption period is simply unheard of on Wall Street.

Fortunately, for the guests who were interested in inquiring, they already knew the news.

This time it was only officially recognized by Smith Capital.

What excited and shocked everyone was the news David revealed later.

I saw him smiling and saying: "The number that appears next is the balance of the current account of the Smith Private Equity Fund. Please look at the PPT."

His voice fell, and a number appeared on the PPT behind him.

8679 million, which is 8.679 billion US dollars.

It is known that the first phase of Smith's private placement raised US$3 billion.

The account balance is now $8.679 billion.

This means that in these two months.

In the first period, the Smith Fund account surged 289.3%.

This number caused the guests, who had been feeling a little numb just now, to start talking again.

This time, even the giants who had roughly estimated the original profit figure couldn't help it.

They have access to Smith Capital's less-secret funding flows.

Speculate the approximate profit of Smith Capital.

But in these capital flows, they have no inside information.

There is no way to grasp the specific sources and classifications of these capital flows.

In other words, they can know that the money belongs to Smith Capital.

But they don’t know whether the money from Smith Capital is Abel’s own funds or the money from the first-phase Smith Fund.

Or other investors’ money.

After seeing this exaggerated profit figure.

In the first phase of Smith Fund, several senior executives of Merrill Lynch invested the most.

Whether it's CEO David Komansky.

It was Stanley O'Neal who had no dealings with David Komanski, and both of them immediately beamed with joy.

Of course, the most excited person is Charlie Scharf, the chief financial officer.

You must know that among Merrill Lynch, the one who insists on handing over funds to Smith Capital for investment is the most insistent.

That's Charlie Scharf.

Today’s figure means that Merrill Lynch’s investment in Smith Capital has increased in value by at least 289.3%!

This time Merrill Lynch was bold and invested US$500 million.

It is the largest investor among investment banks and the largest investor among LPs.

In other words, Merrill Lynch's $500 million now.

The value has increased to US$1.4465 billion.

That’s almost equal to just over a third of Merrill Lynch’s profits last year!

Even if half of the profit is deducted, Smith Capital will be given a commission.

That US$500 million can still make a net profit of more than US$450 million!

"Pa~"

Stanley O'Neal, who was standing with Charlie Scharf, couldn't help but pat Charlie Scharf.

"Hey! Man, did I read that right?! It's actually 8.679 billion! 289.3%!" the black CEO whispered excitedly.

Charlie Scharf was actually more excited. He lowered his voice:

"You read that right, sir. Because the numbers I saw are also the same!"

"Haha~" Stanley O'Neal shouted happily again.

At the reception.

There were also comments from the guests.

Ted Lerner regrets so much now that he didn't invest more at that time.

"Fake," Tedlena complained to his daughter:

"Had it not been for Merrill Lynch's debt collection, I would have invested at least US$150 million! It was because of Merrill Lynch that all my cash flow was drained! In the end, I only invested one million US dollars!"

Ikana glanced at her father, not embarrassed to expose him.

At that time, although Merrill Lynch and many banks were pursuing payment from Dad, it was true.

Ted Lerner couldn't come up with a lot of money at the time.

There is still liquidity of 10 to 20 million US dollars.

At that time, Ikana also suggested that one or two million US dollars could be invested.

But Ted Lerner refused and only invested $1 million.

In Ikana's view at the time, this was a waste of the investment opportunity she had finally obtained through prostitution.

Because not everyone can invest in a Smith Fund.

Now that I have made money, my father says this.

Ikana was speechless.

She knew that her father was saving face, but she didn't expose it outright.

At the other end of the Hilton Golden Hall.

The ever-smiling and silent Robert Morgenthau.

He suddenly said to his granddaughter: "Peggy, did you see the looks in those people's eyes?"

"Huh?" Paige came back to her senses. This talented girl in law was still shocked by the numbers just now.

"The expressions of those capital crocodiles in front." Robert said softly.

Paige was startled, then nodded slightly.

Then she heard her grandfather sigh softly again.

"After tonight. For a long time, no one in Manhattan can take him down."

"Unless you can pass these people's test."

"Before he could make money for these people, these people were his biggest protectors."

There was one sentence Robert didn't say.

That is, if one day, Abel becomes an obstacle to the interests of these people.

Or when it’s profitable.

These protectors can also turn against them overnight.

On Wall Street, this doesn't matter.

"Okay."

David on the high platform was very satisfied with the reaction of everyone below.

He took the microphone and shouted:

"Next, I would like to invite the chairman of Smith Capital. Please give me the warmest applause. I would like to invite our Mr. Abel Smith!!"

When he was halfway through his words, the applause had already drowned out his words.

When the spotlight came down, Abel walked up to the high platform step by step with a smile on his face.

David Mellon, on the other hand, was like a courtier greeting a monarch, taking a few steps back, bending slightly and handing over the microphone with a smile.

Abel took the microphone from David, smiled and patted his shoulder gently.

At this time, the latter was still as excited as ever.

Then he walked to where David Mellon was standing just now. The spotlight on him made him look like a Hollywood actor on the Oscar podium.

Mainly because of his appearance, in this cocktail party where capital giants gather.

It's really a bit out of line.

He is 1.92 meters tall and has the face of a handsome Hollywood actor.

Also looks strong and in good shape.

Many guests are thinking: With Smith's looks, even if he doesn't have this talent, he can probably make a living in Hollywood.

"Hello everyone."

"I'm Abe Smith."

As Abel's voice came out of the loudspeaker, the applause gradually died down.

Everyone wants to hear the speech of the core and soul of Smith Capital.

"First of all, the data that everyone is most concerned about. David has just said it all."

"I won't elaborate on this aspect."

He faced the gazes of more than two hundred distinguished guests.

His posture is neither humble nor arrogant, neither domineering nor overly modest.

He looked at the dozen giant crocodiles standing at the front and said with a smile:

"When I first came to New York from Tarrant County, Texas, I only had fifty dollars with me."

Hearing his "fifty" dollar joke, many insiders curled their lips.

But he is indeed too good now.

Even though he knew that his "fifty dollars" was a joke and fake.

The insiders expressed their disdain in their hearts, but expressed their admiration with their mouths.

"When I first came to New York, I wanted to be a taxi driver because I had a driver's license. I wanted to be a waiter because I found it challenging. I wanted to be a librarian because I loved reading. I I also want to go to Central Park and make a living painting as a street painter.”

Abel constructed a character for himself based on Smith's storm period.

There are also lines designed by think tanks for themselves.

He was quite shameless in front of two hundred guests and reporters hidden among the waiters.

Use the fictional image of Abel Smith to explain the "American Dream" and "New York Dream" to everyone.

Because he just wanted to spread the general content of his speech and cocktail party tonight.

Only in this way can we bring him as much benefit as possible.

In order to maximize profits, what's the point of bragging?

"But one day, I was walking through Wall Street. I saw the cow on Wall Street, and I thought it was very familiar, just like the cows I raised at home."

"Yes, I raise cows at home. I can also milk the cows. I was the third runner-up in the junior category of the 137th Tarrant Milking Competition!"

"When I saw that kind bull, there was a voice in my heart telling me: Stay, this is your destination!"

"I chose to follow my inner voice. I walked in with all I had, fifty dollars."

"Wall Street responded generously to me. A week later, I already had $100,000!"

"This is Wall Street, this is New York, this is America. A country filled with freedom, filled with miracles, and where people can achieve their dreams!!"

In the audience, Ted Lena couldn't help but said to his daughter: "I think this kid might do well if he runs for election. He's so good at bragging!"

Fifty dollars turned into a hundred thousand dollars a week on Wall Street? !

Who are you lying to?

Only Las Vegas has that one in 10,000 chance.

Wall Street, $50?

Those investment managers will only kick you out!

Ikana finally couldn't help but roll her eyes at her father, looked at Abel excitedly, and retorted:

"Don't talk nonsense, Dad. I think that's the kind of person he is. There's nothing wrong with him. He is the representative of the American dream!"

Ikana's reason actually told her that Abel was just giving a speech.

But in her eyes, Abel had a halo bonus.

In addition, if those numbers were converted into cash, the entire hall could be filled.

Under the double BUFF, whatever Abel said now, Ikana thought it was true.

This is probably because beauty is in the eye of the beholder.

After all, she was the one who received the most serial PUAs from Abel.

It feels a bit like Stockholm.

Ted Lerner curled his lips again, and Abel's speech continued on the stage.

".After I made my first five billion dollars."

"I don't think the American dream can only happen to me."

"I want to bring the American dream to everyone, and I want to bring everyone's American dream into reality!"

"I want to share my success with all Americans!"

“Smith Capital will be open to the public, and my talents will be open to the public.”

"I want to bring my abilities to the whole United States!"

"I am willing to be an investment manager for all Americans, so that Americans' wages can continue to increase. Let everyone have more money, so that everyone can live in a good house and drive a good car!"

"Tonight is the beginning!"

"from now on."

"Let's suffocate for our American dream together!!"

At the end of the speech, he raised his right hand high, showing excitement.

The guests in the audience, regardless of whether it was true or false, quickly joined in the applause.

The applause filled the sky.

The reporter mingling among the waiters was now filming openly and openly with his camera.

There were no bodyguards or security guards to stop it, and the reporters were all in high spirits.

This Madfak will definitely be big news tomorrow!

Abel Smith made such big news again when the Smith storm began to subside.

The happiest people are reporters like them.

In fact, Abel's speech had lines designed by a think tank.

The target is these reporters and the large number of American readers behind these reporters!

Otherwise, I really don’t think the rock security work is as strong as it is.

There were more than 40 waiters and seven or eight reporters sneaking in.

Some even brought cameras in.

Is it really impossible for Rock Security to detect it?

I just let them in on purpose.

The purpose is to let them take pictures of the gathering of giant crocodiles, and let them take pictures of Smith Capital’s “trophies” on the PPT.

Then let them film Abel's "suffocating for the American dream" words and speeches.

This time, Abel wants to win over giants like Buffett.

This time, he wants all Americans to know that their Smith really wants to make a fortune with them!

The scene tonight was prompted by him on the spur of the moment.

Then the think tank spent a day urgently thinking of lines, speeches and steps.

So far, it has little effect on the guests at the on-site reception.

It would be better to announce those figures earlier, which would shock them even more.

But in his final speech, Abel was originally aimed at the audience behind the reporters who were taking photos.

Whether it works or not is one thing, but that's what Abel did.

The cost is just bragging.

If he succeeds, he will immediately become the god of investment in the United States.

His influence among ordinary people may exceed that of Buffett.

Why not do it?

After choking on the "American Dream," Abel decisively ended his speech.

I asked him to blow again and he couldn't do it anymore.

Those lines were not what he thought.

As for whether these lines have any effect on ordinary Americans, that depends on tomorrow.

To the giant crocodiles who came around after his speech.

He changed from the excited look he had just been suffocated by the American dream.

He has turned back into the gentle and restrained handsome man that is rare for the Ansa clan.

Facing the crowd gathered around him, he got straight to the point.

"Just like I said in the invitation."

"Smith Capital is about to launch its first round of financing," he said.

“The earning power of Smith Capital is obvious to all.”

"I might as well tell you directly here my personal first-round valuation of Smith Capital."

"So how much is it?"

Richard Fuld, the most irritable character.

Before Abel finished speaking, he couldn't wait to ask.

Including Buffett, even George who was not in the capital circle looked at him curiously.

Abel smiled, raised his right hand directly in front of everyone, made a fist, and then released it, with the five fingers spread wide.

"Five hundred billion dollars." Abel said softly.

This number immediately caused a huge reaction from the giant crocodiles present.

Still a Wall Street bulldog.

Richard Fuld shouted:

"That's impossible, sir! Five hundred billion dollars? Are you kidding me!"

In 1994, Lehman Brothers was listed on the New York Stock Exchange through an IPO.

This year marks the 150th anniversary of Lehman Brothers.

Its stock price exceeded $100 for the first time and entered the S\u0026P 100 Index, making it one of the top five or four investment banks in the United States.

Even so, when Lehman Brothers' market capitalization was at its highest, it did not exceed US$100 billion.

The other four major investment banks are similar, including Goldman Sachs. Most of their market capitalizations are between US$50 billion and US$80 billion.

In terms of market value, investment banks have never been the most important in Wall Street's ecological chain.

Abel's market capitalization of US$500 billion is more exaggerated than the combined market capitalization of the four major investment banks.

How could they agree to this?

Paulson couldn't help but said: "Mr. Smith, you are just thinking."

David Komansky didn't say anything. He was almost losing his position at Merrill Lynch.

Philip Purcell, CEO of Morgan Stanley, currently considered the number one investment bank, also frowned.

Other giants, including Buffett, also stopped talking.

Five hundred billion US dollars is too exaggerated.

Abel smiled and said:

"I want to ask about Lehman Brothers, Goldman Sachs, Morgan Stanley, Merrill Lynch."

"Four gentlemen, can the combined profits of your four investment banks in the second half of this year exceed US$16 billion?"

This question went unanswered.

Because obviously it can't.

The total profits of the four major investment banks last year were less than US$18 billion.

Not for the whole of last year, let alone the second half of this year?

If you get half of it, it's considered a passing grade. .

"It shouldn't be, right? Since it's not. As far as I know, the total market capitalization of the four major investment banks now adds up to almost US$400 billion."

"You who make so little money are all worth so much money."

"Why can't Smith Capital, which makes more than twice as much money as you, be worth more than you?"

When he said this, everyone present felt that it made sense. .

But if you think about it carefully, it's basically just strong words.

"You can't say that." Philip Purcell spoke. .

"Mr. Smith. Whether it's Lehman Brothers or Morgan Stanley, or Goldman Sachs and Merrill Lynch."

"We all have a long history, as well as authority, reputation, heritage, customers, and traditions accumulated over a long period of time."

"We have these to support our market value. What's more, we still have assets."

Before Philip Purcell could finish speaking, he was interrupted by Abel.

At this moment, Abel seemed aggressive. He said directly::

"But compared to me, you all don't make enough money!"

At this moment, Abel behaved like this.

Just like a true American. .

From now on, four updates a day will be changed to two updates at 12pm and two updates at noon during the day. I'll adjust it back when I have the manuscript saved, but now I don't have the manuscript saved.