New York, in a luxurious apartnt in Upper Manhattan.
Walker, Maholi, and Helen sat in the living room chatting.
"Actually, I think Donnie doesn't need to rush this!"
Sitting on the sofa, Walker spoke with so concern, "The Dow Jones Index is climbing every day, everyone is bullish on the US stock market, and all scattered funds are entering the market. At this ti, choosing to short an oil company, I can only say that Donnie really has so guts!"
Donnie's overall counterattack plan was actually to short one of the remaining three major oil companies.
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Before coming here, Donnie and Helen had discussed and selected Harry Sinclair's Sinclair Oil Company!
The Sinclair Oil Corporation, which went public in 1909, grew its market capitalization from just under 5 million US dollars at the start to around 40 million US dollars after more than a decade, a more than eightfold increase.
Especially now, after the previous oilfield promotions, the market value of Sinclair Oil Corporation has nearly reached 50 million US dollars!
At this ti, Donnie has chosen to short this oil company...
Walker continued, "Donnie's base is in Atlantic City, and before this, he has never invested or shorted in the securities market. Now he is coming in and shorting a large oil company with a market value close to 50 million US dollars. If it weren't because Donnie is my friend, I would definitely think this is so college student's fantasy who hasn't even graduated yet!"
Although Walker had made all the preparations for Donnie in New York, when the plan was about to be truly implented, Walker, as a friend, still wanted to remind Helen, hoping she could convince Donnie to give up this unrealistic idea.
Agreeing with her husband, Maholi said, "I think Walker makes sense, right now Sinclair Oil Corporation is experiencing a rise in stock price due to continuous reports in major newspapers, this really isn't the best ti to short Sinclair Oil!"
The chanism for short selling in the US stock market has been around for a long ti, in the last century, Jobe Leto, known as 'The Bear of Wall Street', started engaging in short selling in 1822. However, during the financial crisis of the last century, short selling was scrutinized and criticized, leading to a crackdown on short selling chanisms in many states.
This includes Massachusetts and Pennsylvania in the United States even passing legislation to prohibit short selling.
But such legislation is as ineffective as the current Prohibition in the US.
During World War I, New York, worried about the impact of war on stock prices and the possibility of "bear raids" by hostile countries in the stock market, implented strict restrictions on short selling at the New York Stock Exchange.
However, with the end of the war, this policy has also disappeared from the New York Stock Exchange.
In Walker and Maholi's view, Donnie has never proven himself on the stock market, and now he wants to short a major oil company with a market value close to 50 million US dollars, which is, essentially, no different from a suicidal act.
Facing the persuasion of Walker and Maholi, Helen remained calm, "At the beginning, when Donnie just started in Atlantic City, no one believed that he could achieve such great success in such a short amount of ti, but what about now?
Donnie has beco a guest of the White House, with a net worth that has exceeded 30 million US dollars, becoming a super-rich tycoon.
I've always believed that Donnie will succeed, and he can keep succeeding like this!"
Walker and Maholi exchanged helpless glances, and in the end, it was Walker who spoke, "You two really are a pair, don't you worry that if Donnie fails this ti, your family's perception of him will decline, affecting your future life together?"
Helen smiled and said, "The person I like is Donnie himself; if he fails, then I'll just rise with him again. My family has never been the thorn that prevents us from being together!"
Walker spread his hands, "You two really are a pair!"
Helen laughed, "Before coming here, Donnie also told that you and Maholi would definitely persuade us. Now it seems Donnie was right, you two are also a pair!"
Walker said, "Alright, since Donnie has decided, and you, his girlfriend, believe in him unconditionally, then I, as his good brother, will naturally support him, too. Just like you said, if worse cos to worst, we'll start from scratch!"
At this point, Walker paused, then continued, "To succeed in this matter, I think 8 million US dollars might not be enough. If Donnie needs it, I can contact Citibank and arrange so cash for Donnie then!"
Helen waved her hand, "Donnie said, you haven't really gotten hold of the Astor Family's assets yet, it's not suitable to go to Citibank now, if we need more funds, we will find a way!"
The relationship between Citibank and the Astor Family can be said to be intricate.
As one of Arica's top banks, Citibank is different from llon Bank, which belongs to the llon Family. Citibank was ford from the New York branch of the First Bank of the United States when a group of New York's major businessn collectively invested. During the financial crisis in Arica last century, Citibank was also hit hard.
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