BXBX NOVEL Chapter 30
Chapter 30: Crazy, Isn’t It? Buying Junk Stocks With 100 Times Leverage? !
Translator: Dragon Boat Translation Editor: Dragon Boat Translation
Lin Bai had quite a lot of money in his account.
In addition, he had 500 million in assets to prove that he had enough repayment ability. Therefore, he easily got a loan of 500 million.
“Please help me buy all of Pfizer Group’s shares,” Lin Bai said to the receptionist with a smile.
The receptionist could not believe his ears and he even began to splutter.
“Buy all of them for five... five hundred million?”
“It’s 505 million. Spend all of them on the shares, including the capital and leverage, without leaving a single cent.”
The receptionist quickly recalled Pfizer group’s current stock price and its recent price trend. He found that Pfizer Group’s performance had been mediocre, and it was not a potential stock.
Therefore, he kindly reminded Lin Bai, “The stock price of Pfizer group has not changed much. I’m afraid there won’t be any improvement in the short term.”
“Mr. Lin, do you want to consider changing to another stock? Or do you want to buy a few more different stocks and spread out your capital? This way, the risk can also be spread out.”
Lin Bai refused with a smile, “No, I want Pfizer.”
The receptionist could only obediently do as he was told.
He did not have the authority to make decisions on behalf of the client.
Since Lin Bai insisted, he could only follow Lin Bai’s instructions. However, while he was doing this, the receptionist had been secretly sympathizing with Lin Bai.
He felt that Lin Bai’s investment would definitely be a loss.
‘Anyway, I’ve already given you the advice that I should. If you insist on spending money on lousy stocks, there’s nothing I can do about it.’
‘Anyway, it’s your money if you lose. It has nothing to do with me.’
The receptionist only dared to repeat these words in his heart, but he didn’t dare to show it on his face.
After buying the stocks, Lin Bai went back to school and waited for Pfizer Group’s announcement the next day.
In the meantime, he also took a leave of absence and bought a plane ticket to Dragon City the day after tomorrow.
Lin Bai didn’t know that the news of him buying Pfizer’s stocks with 100 times the leverage had spread in the stock exchange center.
Whether it was the staff at the Stock Exchange Center or the clients who went to handle the business, everyone had heard about this matter.
They knew that there was a young man in his early 20s who was fearless. The first time he came into contact with stocks in the New York market, he dared to directly use 100 times the leverage and even invested all of it into the same stock.
Such crazy behavior left a deep impression on everyone.
“That kid is a lunatic!”
“Hehe, young people don’t think about the consequences. They really don’t know what death is.”
“If they buy a trashy stock like Pfizer with 100 times the leverage, they’ll lose terribly, right?”
“When he can’t even afford to pay the interest, he’ll be in huge trouble!”
...
The people basically had a contemptuous attitude towards Lin Bai’s behavior.
They even treated this matter as a joke and told it to their friends and relatives.
Moreover, they all guessed what Lin Bai would look like when he lost everything in the future.
Even Yu Jianhao, who was far away in Dragon City, heard about this “Joke” from his friends and knew that a young man had bought a lousy stock with one hundred times the leverage.
However, after Yu Jianhao heard it, he did not mock him like the others did. Instead, he immediately thought of someone.
Mr. A.
Such crazy spending behavior was very much like Mr. A.
Wasn’t it the same when he bought Dogecoin? Everyone treated Dogecoin as lousy crypto.
He was the only one who had generously spent a ton of money on Dogecoins. In the end, he made a lot of money and left with ease.
“A person who can buy stocks with a 100x leverage at such a young age cannot be really brainless. I think that Pfizer’s stock price might rise.”
Yu Jianhao responded to his friend who told him the “joke”.
His friend thought about it carefully and felt that it did make sense.
“You’re right. An average young man would not be able to produce a proof of 500 million in assets.”
“That kid isn’t simple. Pfizer’s stock price might indeed rise.”
“I happen to have some spare funds in my hands, so I might as well buy Pfizer Group’s stocks.”
“It’s best if it rises but I can accept it even if I lose a little.”
His friend felt that since this might be an opportunity, he should seize the opportunity to take a gamble.
It was naturally best if he won but if he made a wrong judgment and lost money, he could still bear the losses. After all, he was wealthy enough.
Yu Jianhao replied half-jokingly, “Hahaha, I was the one who discovered the opportunity first. If it really goes up, you have to treat me to a meal.”
His friend replied generously, “No problem! You can pick any restaurant you want!”
Then, he asked, “Do you want to buy some too?”
Yu Jianhao was actually very tempted.
However, his rationality told him that the Yu Corporation had just tided through the crisis and its current financial situation was not very stable. It was not suitable to take risks.
Otherwise, if it lost money, it would face the risk of the capital chain breaking again.
Yu Jianhao really did not want to experience all the previous events again.
Thus, he said, “I’ll wait and see. You know that I’ve just gotten out of the crisis, so I can’t take too high of a risk for the time being. I’d better seek stability first.”
His friend immediately agreed, “That’s right. Given your situation, you really shouldn’t be taking risks.”
Let’s stabilize it first before investing.” Yu Jianhao originally wanted to contact Lin Bai and ask around to see if Mr. A had made any big investments recently.
In the end, a big shot happened to be free and agreed to his invitation. Thus, Yu Jianhao hurriedly tried to get in touch with the big shot and forgot about all these things.
...
Due to the time difference, the opening time of the US stock market was at night where Lin Bai was.
Lin Bai was holding his phone in his dorm room as he watched the price of Pfizer’s stock soar.
His heart was calm.
This was the expected result, so there was nothing to be surprised about.
Luo Yang, who was in the same dorm room as him, was surprised when he saw him looking at the stock.
“Boss, why are you meddling with stocks again?”
“I’m just playing with it,” Lin Bai replied casually.
While they were talking, Pfizer’s stock price had already risen to 500%, breaking the 20-something limit.
Luo Yang had always been focused on trading currencies and had basically never touched stocks.
However, Lin Bai’s previous practice of trading Dogecoin made Luo Yang admire his wits.
Therefore, even if Lin Bai said that he was just playing around, Luo Yang firmly believed that with his judgment, he would definitely be able to make a lot of money.
“Boss, what did you buy? Tell me, I want to buy too.”
Luo Yang took out his phone and was ready to buy some stocks directly.
Lin Bai said honestly, “I’m afraid you can’t buy this. You need to set up a special account to trade American stocks, and you also need to provide your corresponding proof of assets.”
When Luo Yang heard this, he instantly became listless.
He said pitifully, “Boss, you’re being so high-end with your trading. Not only are you trading stocks, but you’re also trading American stocks. I can’t copy you even if I want to...”
“Can you buy a stock that I’m eligible for purchasing and let me profit too?”