"Ladies and gentlemen, this is Adam Smith's Money World. The world is mine and the money is yours.“Good evening, everyone."We have a special guest tonight, Mr. Jack Lee, a young Chinese billionaire who was recently ranked first on the Forbes Global Billionaires List this year."There was fairly enthusiastic applause from the audience.This program is broadcast live on television.At this time, on the stage in the center of the studio, Li Jiankun was sitting on a single black sofa chair, and Adam Smith was sitting on the other side, with a red oak coffee table between them.On it is placed a dark blue glass vase with tulips in it, which symbolize wealth.The studio is neither big nor small, with about a hundred spectators sitting in the fan-shaped auditorium surrounding the stage.These audience members are not actors.The show is known for its authenticity.The audience watching in front of the TV can clearly see that tonight's audience lineup is different. It is no longer composed entirely of business school students. Almost all the people sitting in the front row are middle-aged.Some look very familiar, being regulars in the financial media.Adam: "Some of you watching TV may not know what happened yet, so let me first review what happened:"In today's Wall Street Journal, Dill Horn, the founder of Golden Bridge Investment Fund, published an article stating that someone is raising a large amount of securities in an attempt to conduct large-scale short-selling investments."According to people familiar with the matter, all signs indicate that the company Mr. Horn was referring to was Jinding International Investment Company, and the boss behind it was Mr. Li next to me."That's why we invited Mr. Li here."Adam paused, looked at Li Jiankun and continued:“Before coming here, Mr. Li had admitted what Mr. Horn was referring to.“Then let’s get to the point.“I believe that the question that the audience, whether they are the audience at the event or the audience watching on TV, want to know most is:"Why would you do that?"Li Jiankun picked up the plug-in microphone beside his leg and said with a smile: "Everyone can think of the answer to this question, but they just don't want to believe it.“Okay, let me tell you now: you are right, I am bearish on the U.S. dollar financial market.”Adam spread his hands and asked, "Why?"Everyone knows that the Dow Jones Index has reached more than 2,000 points, while in 1982 it was only a pitiful 800 points. In just four years, it has more than tripled. This is a big bull market."Li Jiankun said: “This is exactly the reason."There are many reasons why I am bearish, one of which is that the major components of stock markets around the world have all hit new highs in recent years. This is the first time since 1961 that global stock markets have hit new highs together."At this point, Li Jiankun glanced at the scholars or Wall Street people in the front row of the audience and continued:"After the global stock market boom in 1961, stock markets around the world collapsed in 1962."We have to admit that sometimes history always repeats itself in a surprising way."Adam: “With all due respect, this is just your subjective conjecture to link the two years together. Can you provide some technical proof?”Some scholars in the audience had sarcastic expressions on their faces, as if they were enjoying the show.This kid isn't even younger than most of their students.He may have a keen investment intuition and great luck, but these scholars really don't believe that he has superb skills.Especially in the current situation: in a bull market, no one thinks the stock market will collapse. What technical analysis can he come up with to support his point of view?Li Jiankun held the black microphone and said slowly:“I think there are two technical signs of the end of the bull market:“1. When a bull market starts, everyone buys value stocks. When a bull market ends, quality stocks fall and junk stocks soar.“2. Chaos and madness.”Li Jiankun paused for a moment and said:“Many listed companies are keen on mergers and acquisitions, but most of these mergers and acquisitions are just investments in the stock market, not real investments in the core business.“In fact, since April 1986, the stock prices of some large companies, including IBM, have peaked and fallen, and the market has begun to turn bearish."And the Dow Jones Index is still rising because of the popularity of junk bonds and the crazy expansion of Wall Street investment banks."Li Jiankun glanced at the scholars and Wall Street people in the audience who were all wide-eyed, and added:“There are so many financial instruments nowadays that it’s dizzying. For example, I heard about something called ‘Eurodollar’ some time ago, but to my shame, I don’t even know what it is."Students from major business schools who were recruited by Wall Street were doing interest rate swaps, mortgage-backed securities, foreign exchange swap securities, etc. They didn't know what they were doing, and they didn't even know who the ultimate creditor was.“The only thing they know is trading and making a lot of money."If this continues, will there be no trouble?"Li Jiankun thought, something bad had happened a long time ago.The scholars and Wall Street people present all looked unhappy.The former was because he was slapped in the face——They didn't even pay attention to some of the things the other party said, or rather, the other party's understanding of the US financial market was not as good as theirs.They all fell into deep thought.The latter was of course unhappy to have his shortcomings exposed on the spot.Someone raised their hand."Oh, Mr. Shaffer seems to have something to say." The host Adam made a gesture of invitation.The man he called Schaeffer took the microphone from the staff and said without standing up:“I think the bearish talk is ridiculous, and the junk bond talk is a malicious insult.“The stock market is free and open and should accept any new financial instruments that comply with the rules.“There is nothing wrong with that."It is ignorant to be bearish on the entire stock market because the secondary market is a bit chaotic now. We all know that it takes a process for everything to mature."After Schaeffer finished his speech, Adam subconsciously looked at Li Jiankun and asked, "Do you have anything to say?""He is not here to participate in the discussion. He is self-righteous and here to protect his own interests. There is no point in me talking to him," said Li Jiankun."you--"Schaeffer choked. This was exactly the purpose of his coming here.He simply doesn't believe that the stock market will crash anytime soon.Adam said at the right time: "Mr. Li, in your opinion, what will the stock market look like next?""There's going to be a big, fast, scary stock market crash."Li Jiankun said slowly: "The prelude to the collapse may be detonated from the junk bond market. The subsequent plunge will completely drag down the U.S. stock market, which has in fact turned bearish. The extent of the plunge will be comparable to that of 1973 and 1974.“But the difference is that the market fell 50 percent over a two-year period."And this time, maybe it will only take half a year, or even a week."Hey!There was an uproar."Alarmist! Alarmist!" A Wall Street person couldn't help but stand up and raise his arms and shout.Almost everyone at the scene stared at Li Jiankun, revealing one message in their eyes -This guy is crazy!God knows how many people like this there are in front of the TV.However, Li Jiankun didn't care, as he had achieved his purpose of coming here.The point of view has been made very clearly, and the company should be able to calm down.believe it or not.It’s not in vain to believe.If anyone believed him and immediately sold all their stocks, they could have avoided the stock market crash.However, Li Jiankun was clear.There shouldn't be many people like this.People are always greedy. The U.S. stock market is generally on an upward trend now. Few people would give up the wealth that is within their reach just because of what others say.By the time they want to clear their inventory... it's too late.If there is no buyer, who will I sell it to?…………After this issue of "Adam Smith's World of Money".The American media is full of criticisms of Li Jiankun.Some celebrities even openly cursed Li Jiankun on TV programs.For example, Tan Sri Hudson, a financial commentator for Fox TV, said bluntly: "This Jack Lee's brain must have been caught by a donkey's ass."Li Jiankun's remarks have hurt too many people's fragile hearts.Even when Reagan was interviewed and talked about the financial market, he was smiling.Americans, from ordinary people to the president, all have a mysterious confidence in the stock market.Li Jiankun turned a deaf ear to what was happening outside and didn't have the time to do that.While he was gradually investing in U.S. stocks, he also had to take Hong Kong into consideration.He has nearly twenty listed companies in Hong Kong, so it is not easy for him to avoid them completely.Fortunately, he knew that the Hong Kong stock market would be closed for four days.In addition, he had made some preparations before this, and he had calculated that the final loss would not be too great.Probably not even a fraction of what he earned from US stocks...His plans almost scared the little hero and his wife to death several times.One hundred billion US dollars!High leverage!Time flies.September is over.The U.S. stock market remained stable.On October 1, a Fox reporter came to Jinding International Investment Company to interview Li Jiankun and asked him what he thought now.After the news was published.Li Jiankun, who insisted on being bearish, became the object of ridicule by almost everyone.Abby Adams is sad.During this period of time, she wanted to visit Li Jiankun and have an in-depth communication with him countless times.I just remembered the agreement we made and tried my best to endure it.Now, she couldn't bear it any longer."What do you mean?"Li Jiankun sat behind the mahogany table, looking the girl up and down. He hadn't seen her for a while and she had obviously lost a lot of weight.It's a pity.The main thing is that I lost weight in places where I shouldn’t lose weight.Abby smiled awkwardly and said, "I mainly want to know if you are still confident now.""What if not?""!!!"Abby's face changed drastically and she asked, "Are you not sure at all?"Seeing that she was hesitant to speak, Li Jiankun teased her and said, "Don't think about it. You have already invested 60 million yuan and you can't withdraw it now."Abby stared at him, silent for a long while.Then, with Li Jiankun's puzzled expression, the girl walked to the leather sofa by the side wall without saying a word, picked up a cotton and linen pillow, and covered her face with it: "Wuwuwu..."Li Jiankun: "???"After all, she is a young girl who has just come of age, albeit one who has matured rather anxiously.I have never spent 60 million at one time in my life.She cried so much that I felt sorry for her.