Reborn Entrepreneurial Giant

Bear Stearns, one of the five largest investment banks on Wall Street, is not considered weak, but it has lost the trust of the bank under the subprime mortgage crisis. Sun Jianhe began to short Bear Stearns from the end of February to the beginning of March. million shares.

It's not that I don't want to borrow more stocks to short, but there are too many short sellers and there are not enough stocks. The Vision Fund used the channels of Lehman, HSBC and Goldman Sachs this time. In just half a month, on Sunday, March 16, JPMorgan Chase announced that it would buy Bear Stearns at a price of $2 a share.

The news announced that the stock price of Bear Stearns plummeted, and the lowest fell below 2 US dollars. The Vision Fund took the opportunity to cash out. The average closing price was less than 5 US dollars, and the final profit was 60 million US dollars.

Not to mention that Qu Li was shocked, Sun Jianhe himself was also shocked, so he directly sent him 10 million US dollars as a dividend and reward.

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

He 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 he thought that he provided the channels and funds, and Qu Li approved his short selling, so he took it for granted.

"I started buying put warrants from Citigroup, AIG, and Liangfang last year. You can pay attention to them. There are also Lehman Brothers. They seem to have serious 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? 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 law that someone makes money and someone stays with them. Zhang Yiwen's team in charge of long crude oil plummeted because of JPMorgan Chase's sudden low-priced acquisition offer to Bear Stearns. It fell from $110 to around $100 in a few days.

"Hold it, don't worry." Qu Li comforted the frustrated Zhang Yiwen, borrowed another 50 million US dollars from the bank for emergency, and bought 1,000 lots of crude oil futures to strengthen Zhang Yiwen's confidence. The financial market is ever-changing, and it is really impossible to trade futures without determination and courage.

Putting aside the matter of financial investment for the time being, in order to maintain a certain amount of exposure, Qu Li accepted the paper media and rejected TV programs. It is said that although Qu Li has made a lot of noise in the past few years, it seems that he only participated in central-style TV programs.

Among the paper media, Qu Li prefers the influential authoritative media such as the southern department at this time, Chinese female entrepreneurs, etc. The portals are Netease and Zhalang, but this time it is Finance and Economics. After all, only through different media channels can more people know him and know that Jumeiju is a good deal.

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

"How do you think Jumei's stock price has fallen below the issue price?" the reporter asked.

"Affected by the US subprime mortgage crisis..." Qu Li replied solemnly

"What motivated you to rush to explore the international market after two years of establishment?"

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

"Although the Internet connects the world together, 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 no difference between the domestic and international markets. At first I only wanted to make Danlin women's clothing. It was too difficult. I made a simpler and more controllable Xiangyun sports brand. Later, because With the participation of Sequoia and IDG, Jumei.com was established, the enterprise is constantly changing, our team is always learning, and 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 things well at the same time, so we have always served the differentiated needs of consumers." Qu Li said, and then he 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 in the United States, focusing on products and prices, and the service level needs to be improved; this year in China, we launched the Juhuasuan section , if it can be successful, it may operate independently in the future and innovate in the form of sales, 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, 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? If there is such a company, it would have been famous all over the world. Taobao focuses on the ultimate price, but they gave up their products and services..."

Qu Li started a discussion with the reporter 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 the US market. Small profits, making money through membership fees; the other is to reduce categories and sell a large number of self-operated products..."

"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 at work, canteens, and go to roadside stalls after work You can eat barbecue, drink beer, and stay in a hotel for dinner. Taobao is more like a wholesale market, while Jumei is more like a supermarket and department store. The target customers we serve are different.”

"Competition is bound to happen. For example, Taobao Mall and Juhuasuan are a test of their respective advantages. After all, the C2C model is like panning for gold in the sand. Everyone should keep their eyes open when shopping, but many people are interested in shopping. You don't have to buy anything, you just want to see it.

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

"This is not to say that the products sold on the Jumei Juhuasuan platform have no quality problems, not to mention self-operated products. Third-party sellers are all registered formal enterprises. National standards and quality supervision departments are responsible for product quality and safety issues.

The C2C model of Taobao, Youla, and OQ Mall is much higher than Jumeijuhuasuan because there are a large number of individual sellers and self-employed individuals. "

"To put it bluntly, we are a retail company, and we also have to bear part of the responsibility if there is a problem; C2C is a platform, and any problem is the seller's problem."

Qu Li has made Jumei and Taobao independent this time. What he said is logically correct, but Mr. Ma is good at sophistry. He can certainly find an excuse if he can say that he does not read books so beautifully and refined:

"Ari's goal is to make it easy for the world to do business. Taobao itself has various measures to combat counterfeit and shoddy products, and most of the merchants doing business in Zhongwo are legal and compliant, let alone small and medium-sized ones. There are a lot of fake products sold by sellers, everyone grew up from small sellers, it is extremely irresponsible to say that there are many fake products on Taobao..."

Ma Yun almost bluntly accused Qu Li of forgetting his origins and bullying the small with the big, but the people who eat melons are happy! Qu Li and Ma Yun have finally come to this point. Many people expected their breakup. This day came too fast.