章 85: Chapter 85: The Big Winner
Once market confidence falters, it's challenging to restore it. Many tech companies had to go to great lengths, including repurchasing their own stock, to regain the trust of their investors. This strategy proved somewhat effective as the Nasdaq, though declining, hadn't completely collapsed.
However, the situation was far more complex. Bearish investors weren't going to miss this golden opportunity. Everything was a covert struggle behind the scenes.
William, on the other hand, could simply sit back and watch. Throughout late March and early April, he remained in the VIP room of the National Bank, paying no attention to Alexandra. His days were filled with continuous discussions with his team. During this time, the Nasdaq fell over 430 points, earning him more than a billion dollars in just one month.
Having not seen William for days, Alexandra couldn't resist coming to the bank to find him. The once-broke William couldn't hold back from boasting about his accomplishments to his muse.
Upon hearing that William had made $1 billion, Alexandra spent the following days pestering him, persistently urging him to take his profits and exit. They even had a heated argument, with Alexandra threatening to return to Brazil in a huff.
But there was no way William would back out now, nor abandon everything to follow Alexandra to Brazil unless there were critical reasons like his wife giving birth or his mother falling ill. Tomorrow was the announcement of the antitrust case against "SoftCorp." This was the decisive moment, the time for the Devonshire family to amass wealth, and the best opportunity for them to become the richest in England.
After sending Alexandra away, William focused entirely on the Nasdaq and every slight movement in the USA. Everything unfolded as he hoped. In April, a federal judge announced that based on the evidence gathered, "SoftCorp" indeed engaged in monopolistic practices.
The announcement of the antitrust investigation results marked the real beginning of the stock market crash.
At that time, "SoftCorp's" market capitalization was enormous, valued at $600 billion. If "SoftCorp" were to be broken up, it would result in massive losses, especially for those who had borrowed heavily to buy its stocks. The breakup would be catastrophic, potentially bankrupting many who invested in "SoftCorp."
As soon as the news broke, ordinary shareholders who owned "SoftCorp" stocks started to panic, leading to a flood of sell orders. The stock market began to plummet, and the trading systems couldn't handle the volume, reminiscent of the market chaos seen in 1987.
With a backlog of orders, panic among shareholders intensified. By mid-May, the Nasdaq had fallen from 5048 points on March 10th to 3500 points on May 14th.
William, who had opened his position in March with three-month futures contracts, began selling off his contracts when the Nasdaq hit around 3700 points. By the end of the contract period, he had sold all his futures, and holding the report from Phillips, he was ecstatic.
His futures contracts had an average sell point of over 3600 points. During the contract period, the Nasdaq dropped 1400 points. With each point drop earning him $2.44 million, he made a total of $3.416 billion. Adding his initial capital of $350 million and the additional margin of $82 million, after settlement, he had $3.848 billion in cash. Most of this money came from Japan, which made William feel even more triumphant.
But the thought of taxes made William's stomach churn. He knew he had to pay taxes, likely amounting to several billion, which was a painful prospect. Not paying taxes was out of the question; otherwise, he would face global manhunts, with tax authorities tracking his every move and freezing his assets.
In the Americas and Europe, and to a lesser extent in Asia, the IRS was the most formidable, relentless, and uncompromising agency. They had their own forces and enforcement officers and could act without needing to report to other agencies. They could seize assets, impose fines, and drag you into court for years.
Living and investing in the West meant William couldn't afford to cross them. Any suspicion of tax evasion could ruin his future investment plans in the USA, and without complying with the regulations, he couldn't hold more than 5% of a company's shares without approval. The slightest hint of tax evasion could block him from making any significant investments.
Like the 1.4% shareholder of "FaceBook" who faced endless troubles after changing his nationality to Singapore to avoid taxes, William had to carefully navigate his dealings. It was time to discuss the details with his lawyer and the National Bank. Taxes needed to be paid, but there were ways to do it efficiently. No wonder Europe and America had so many lawyers. Though expensive, they were essential for legal tax planning.
Despite future potential issues, those were problems for another day. For now, William looked at the excited faces in the VIP trading room and walked over to a table, clapping his hands.
"Thank you all for your hard work over the past three months. You've earned it. I'll be distributing 1% of our profits as bonuses. That means each of you will receive close to $7 million. Congratulations, you're now millionaires! Celebrate and enjoy!"
"Long live Mr. Devonshire!"
"Oh my God, I'm going to Hollywood, to the beaches of Brazil! Ladies, here I come!"
But William had to be the party pooper. "Alright, folks, remember to keep this confidential. Don't go blabbing about it."
"Absolutely. I won't even tell my wife or parents. No word will slip," they all swore.
"Once all the funds are in the National Bank's account, you can take your money and enjoy your vacation. Just hang in there for one more day," William instructed.
"No problem, boss. We guarantee the money will be in by tomorrow," Phillips assured, pounding his chest.
William nodded, picking up the phone to call his personal lawyer, Anthony.
"Hello, BOSS. What can I do for you?" Anthony's voice came through.
"Anthony, how's my castle coming along? It's been three months. Is it ready?"
"Of course, boss. With so many top construction companies idle, we hired three of the best design firms. Your mother, Mrs. Devonshire, has been overseeing the progress in Oxford. The castle's main structure and interiors are done. In a few more days, the grounds, including the lawns, woods, and fountains, will be finished. Congratulations, Mr. Devonshire. All of England knows you've reclaimed the Devonshire family estate."
"Thanks, Anthony. I have a major tax case involving several billion dollars. Would your firm be interested?"
"Several billion in taxes? Boss, you must be God's favored son to earn so much in the market. We're definitely interested. Should we meet in Switzerland or England?" Anthony asked excitedly.
"England. I'll head to Oxford in a couple of days and meet you at the castle," William replied.
"Understood, boss."
William hung up and turned to Phillips. "Order dinner from the restaurant. Once the money is in tomorrow, you can all go and enjoy life. Just one more day and you're free."
Phillips smiled. "It's okay, boss. We understand the need for confidentiality. This success is all thanks to your strategies. Earning $7 million in three months just by following your instructions, no one has any complaints. They get it."
"I'm glad you understand," William laughed. "Who knows if we'll ever get such a great opportunity again."
William wasn't sure if the stock market would behave as it did in his previous life. This success had a good dose of luck. While major trends would likely remain the same, precise future market movements were uncertain now. History had changed.
Trading futures at high leverage was risky. A movement of just a few points could result in a complete loss if no buyers were available. The chance for overnight riches was gone, but there were still many opportunities in the market. Over the next year, as the market fluctuated and eventually dropped to around 1400 points, buying stocks in promising companies at low prices could lead to massive gains as the market rebounded. Though slower, this strategy was less nerve-wracking.
William believed that in a decade or so, he could be the richest person in England, maybe even the world. The thought was intoxicating. A bright future awaited.
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