Reborn Entrepreneurial Giant.

Chapter 155 Interview and Breakup

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 2 US dollars, and he short-sold 3 US dollars. Thousands of shares.

It’s not that it doesn’t want to borrow more stocks for shorting, but that there are too many short-sellers and there are not enough stocks to divide. This time, the Vision Fund used the channels of Lehman, HSBC and Goldman Sachs.Just half a month later, on Sunday, March 3, JPMorgan Chase announced its acquisition of Bear Stearns at a price of $16 per share.

After the news was announced, Bear Stearns' stock price plummeted, falling below $2 as low as possible. The 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 $6000 million.

Not to mention Qu Li was shocked, Sun Jianhe himself was also shocked, so he directly gave him 1000 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 you don't listen, what's the use of keeping him?There is a high probability that he will not make quick money in the future.

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

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

"Take it, don't worry." Qu Li comforted the frustrated Zhang Yiwen, borrowed another 5000 million US dollars from the bank for emergency use, and bought 1000 lots of crude oil futures to strengthen Zhang Yiwen's confidence.The financial market is constantly changing, and it is impossible to do futures without determination and courage.

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 rejected 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, Chinese entrepreneurs, the portals are NetEase and ZhaLang, and yes, this time it is Finance.After all, only different media channels can let more people know about him and know that Jumeiju is cost-effective.

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 motivates you to rush into the international market two years after its 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 first, I just wanted to make Danlin women's clothing. It was too difficult. I made a Xiangyun sports brand that is simpler and more controllable. Later, because of With the participation of Sequoia and IDG, Jumei.com was established. The company is constantly changing, and our team is always 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 about commodities. A small profit, making money through membership fees; the other one is reducing categories and selling a large number of self-operated products..."

"It's good that Taobao is developing very fast, 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 eat barbecue and drink beer, or you can 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 anything, 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 national standards and quality supervision departments are responsible for product quality and safety issues.

Because there are a large number of individual sellers and self-employed businesses in the C2C model of Taobao, Youla, and OQ malls, 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 and can describe his lack of reading in such a elegant and refined way. Of course he can find an excuse:

"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 individuals. Small and medium-sized sellers sell a lot of fake goods. We all grew up as small sellers. It is extremely irresponsible to say that Taobao has many fake goods..."

Ma Yun almost bluntly accused Qu Li of forgetting his roots, which was simply bullying the younger ones, but the crowd was happy!Qu Li and Ma Yun finally reached this point. Their breakup was expected by many people. This day came too fast.