Author: Banlou Yaofeng

Bear Stearns, one of the five major investment banks on Wall Street, is not considered weak, but it has lost the trust of banks during the subprime mortgage crisis. Sun Jianhe began shorting Bear Stearns from the end of February to the beginning of March. The price of the short sale was about 60 US dollars, and he shorted 300 US dollars.

Thousands of shares.

It’s not that they don’t want to borrow more stocks to short, but there are too many short sellers and the stocks are not enough. The Vision Fund used the channels of Lehman, HSBC and Goldman Sachs this time. In just half a month, on Sunday, March 16, Morgan

Chase announced it would acquire Bear Stearns for $2 per share.

After the news was announced, Bear Stearns' stock price plummeted, falling below $2 as low as possible. Vision Fund took the opportunity to cash out, closing its position at an average price of less than $5, and finally made a profit of $60 million.

Not to mention Qu Li was shocked, Sun Jianhe himself was also shocked, so he directly gave him 10 million US dollars as dividends and rewards.

"We can make money by speculation, but we cannot survive by speculation. The current situation is special and there are still many opportunities in the American market. I not only hope that you can seize the opportunity to make more money, but I also hope that you will not get lost in making quick money..."

Sun Jianhe had just made the biggest sum of money in his life, and was immediately taught a lesson by Qu Li. Sun Jianhe was very unhappy, but considering that he provided the channels and funds, and his short selling was approved by Qu Li, he felt that it was natural.

"I started buying put warrants of Citigroup, AIG and Fannie and Freddie last year. You can pay attention to them. There are also Lehman Brothers. They also seem to have big problems." Qu Li finally gave Sun Jianhe a suggestion. If you can listen to it,

, Qu Li will most likely choose Sun Jianhe. If he doesn't listen, what's the use of keeping it? He will most likely not make quick money in the future.

"Okay, I will pay attention." Sun Jianhe woke up from the ecstasy of profit.

Some people make money and others accompany them. This is God's way. Zhang Yiwen's group responsible for long crude oil prices plummeted because JP Morgan suddenly issued a low-price acquisition offer for Bear Stearns. It fell from 110 US dollars to around 100 US dollars in a few days.

"Take it, don't worry." Qu Li comforted Zhang Yiwen, who looked frustrated, and borrowed another 50 million US dollars from the bank for emergencies, buying 1,000 lots of crude oil futures to strengthen Zhang Yiwen's confidence. The financial market was changing, and there was no determination and courage.

I really can't do futures.

Financial investment matters were put aside for the time being. In order to maintain a certain amount of exposure, Qu Li accepted print media and refused TV programs. It is said that although Qu Li has made a lot of noise in recent years, he seems to have only participated in central-style TV programs.

Among the print media, Qu Li prefers authoritative media with greater influence such as the Southern Department at this time, Zhongguo Entrepreneurs, the portals are NetEase and ZhaLang, and yes, this time it is finance. After all, only different media channels can make more news.

Many people know him and know that it is cost-effective to gather beauty together.

I won’t say much about the introduction. This interview is regarded as the follow-up publicity for Jumei’s listing. It should have been done a long time ago, but it was postponed due to the impact of natural disasters.

"What do you think about Jumei's stock price falling below the issue price?" Reporter

"Affected by the U.S. subprime mortgage crisis..." Qu Li answered seriously

“What motivated you to rush into the international market two years after your establishment?”

"I don't quite understand this. Isn't the Internet a global network?"

"Although the Internet connects the world, the markets are different and the legal systems of each country are different. How do you overcome these difficulties?"

"You talk about the market and the law. For me, there is really not much difference between the domestic and international markets. At the beginning, I just wanted to make Danlin women's clothing. It was too difficult. I made a simpler and more controllable Xiangyun sports brand. Later, because of

With the participation of Sequoia and IDG, Jumei.com was established. The company is constantly changing, and our team has been learning. Through learning, we have found the essence of retail."

"The essence of the retail industry should be products, prices and services. No company can do these three aspects well at the same time, so we have always served the differentiated needs of consumers." Qu Li said and started a long speech.

.

"Jumei focuses on products and services in China, taking into account prices, and mainly serves major brands; shopee develops the market through group buying models in the United States, focusing on products and prices, but the service level needs to be improved; domestically this year we launched the Juhuasuan section

, if it succeeds, it may operate independently in the future and make some innovations in sales forms, but in essence it will still focus on products and prices..."

"If there are retail companies around the world that can achieve the ultimate in products, prices and services, which are much better than Jumei, then it means that our team is not as good as them. Personally, I don't mind selling the company to them."

"Do you think this is possible? A company like this would have become famous all over the world. Taobao focuses on the ultimate price, but they gave up on products and services..."

Qu Li started a discussion with reporters around the three elements of product, price and service. “Although Wal-Mart is the world’s number one retail group, there are also very good supermarkets such as Costco and Aldi in Germany in the US market. One is the merchandise.

The one with low profits makes money through membership fees; the other one reduces the category and sells a large number of self-operated products..."

"It is good that Taobao is developing very quickly, but we are not competitors. The same consumer will choose different forms of consumption at different times and environments. Just like we usually eat takeaways and canteens at work, and we can go to roadside stalls after work.

You can have barbecue and beer, and you can also stay in a hotel and have a big meal. Taobao is more like a wholesale market, and Jumei is more like a supermarket and department store. The target customers we serve are different."

"There will definitely be competition. For example, Taobao Mall and Juhuasuan are both testing their respective areas of advantage. After all, the C2C model is like panning for gold in the sand. Everyone needs to keep their eyes peeled when shopping, but many people are interested in shopping. They

I don’t necessarily want to buy something, I just want to see it.

Jumei and Juhuasuan help consumers conduct a screening, which can help consumers save a lot of time and cost. As long as the price is within an acceptable range, they can buy with confidence."

"This does not mean that the products sold on the Jumei Juhuasuan platform do not have quality problems, let alone self-operated products. Third-party sellers are all registered formal enterprises, and the national standards and quality supervision departments are responsible for product quality and safety issues.

Taobao, yes, OQ Mall’s C2C model has a large number of individual sellers and self-employed people, so the probability of counterfeiting and quality problems is much higher than that of Jumei Juhuasuan.”

"To put it bluntly, we are a retail company, and we must also bear some responsibility if there is a problem; C2C is a platform, and if there is a problem, it is the seller's fault."

Qu Li has made Jumei and Taobao independent this time. There is no logical problem with what he said, but Teacher Ma is good at sophistry. He can talk about not studying so elegantly and refined, so of course he can find excuses:

"Ali's goal is to make it easy to do business in the world. Taobao itself has various measures to combat counterfeit and shoddy products, and most of the merchants doing business in China are legal and compliant, not to mention individual small and medium-sized enterprises." Sellers sell a lot of fakes. We all grew up as sellers. It is extremely irresponsible to say that there are many fakes on Taobao..."

Ma Yun almost bluntly accused Qu Li of forgetting his roots, which was simply bullying the small ones, but the people who eat melons were happy! Qu Li and Ma Yun finally reached this point, and their breakup was expected by many people. On this day Came too fast.
Chapter completed!