Rebirth capital madman

Bob Baldwin emphasized Morgan Stanley's "tradition" refers to Morgan Stanley's business model.

Take this IBM to issue bonds to the public field. Example is that Morgan Stanley gets exclusive underwriting from IBM, and then sends hundreds of securities and brokers with their wholesalers, sitting together, according to their respective Sales capabilities, one point.

It is such a simple, the commission of millions of dollars, easily fall into the pocket of Morgan Stanley, which is a reason for Morgan Stanley known as investment banking.

For a long time, in the eyes of Morgan Stanley, it is a coarse life in the first-line sales of bonds. He has such an investment banking nobility, natural dismissive.

Of course, Morgan Stanley's business model has its own bottom gas, Morgan's golden signboard is worth this price, and it is not a cascading bonds, it is possible to attach Morgan's labels, Morgan Stanley still very cherished their own Feathers will conduct careful evaluation and screening.

It can now be different now. Financial services are no longer as mysterious and high in the past, and the big business is more willing to follow, like Solomon brothers, rushing to sales of the sales line, IBM is an example.

Morgan Stanley's mistakes is that the relationship with IBM is very bad, do not understand the latest developments of IBM, so that IBM acquires Huanyu Computer and issuance bonds, and later known.

At this time, for IBM issuance bonds, Morgan Stanley only has two options: accept IBM conditions, with joint underwriters, and Solomon brothers, high-yet participation in bond issuance, or refuse to force, forcing IBM Give exclusive underlying rights to Morgan Stanley.

The previous choice will make Morgan Stanley unprecedented the face of the aristocrats of the investment bank, even more important, once the old business model breaks the practice, the other customers of Morgan Stanley, very likely to learn Sample follows IBM's footsteps.

In fact, after entering 1970, Morgan Stanley has been suffering from challenges.

For example, from 1946, he became the Australian Foundation of Morgan Stanley, and turned from the embrace of Morgan Stanley's death-German Bank.

For another example, enterprise customers, like Dexus Ancient Oil Company, Mobil Petroleum Company's international energy giants on the list of Top-level clients, started to bypass Morgan Stanley, and directly distribute bonds to institutional investors Exson has made a "Dutch bidding" when issuing bonds and encouraged competition between investment banks.

This kind of gameplay is most familiar with the public, it should be the IPO of the Internet Times Giant Google, which is to avoid investment banks.

But these are not as good as the impact of Morgan Stanley joint underwriting bonds, quite a "slave" rebellion, blowing Morgan Stanley gold shackles.

Bob Baldwin maintained the "traditional" tough position, soon he got unanimously agree with the participants, and never IBM's stinky.

You are now deeply embarrassed, the company's prospects are full of uncertainty. Like the Mini Telecommunications Company, the dismantling may be great. At this time, I will lack the bond, how can Morgan Stanley's gold signboard? You can want to get support from Morgan Stanley, so you can only give Morgan Stanley exclusive underwriting right as as before.

Bob Green Hill, which is responsible for maintaining Morgan Stanley and IBM, is naturally a non-two candidates for IBM, and it is also given him a chance to make up.

As a result, Bob Green Hill was fast, and it was fast. "IBM attitude refused our exclusive underwriting, and decided to be released by Solomon Brothers, Goldman Sachs and Gao Sheng."

Bob Baldwin heard stunned, "IBM is decided to decide so fast?"

Bob Green Hill shrugged, in order to try to get rid of Morgan Stanley and IBM relationship, he added: "In order to deal with severe inflation and interest rate fluctuations, the current corporate finance supervisors, There is a unique closure of competitive programs, IBM thinks it should comply with this trend. "

Bob Baudewin, who is coming, realized that Morgan Stanley pursued many years of exclusive underwriting strategies, which may really be dying, could not help but be greatly frustrated, and asked: "IBM chooses Solomon brothers and Goldman Sachs joint issuance bonds, I can understand, but what is the number of ways? "

Bob Green Hill repulstrically replied: "This is a investment bank from Xiangjiang, Asia. It is quite a diamond, and it is contrary to many listed companies involved in the acquisition and mergers involved. This time IBM acquisition of Huanyu computer company is high-increasing, estimated the process of this acquisition, and the high benefit is not ranked from it. "

Bob Baldwin This is a high-end Morganism in the weekdays, and finally remembers a little impression that once had a good impression, frown: "So, the high is a very good role, is it No handle fall in the Stock Exchange Hand? "

"Single from operational techniques, it is really dripping, the most is to make a statement on the Securities Exchange Commission." Bob Green Hill heard that Bob Baude wanted to take advantage of this The meaning of murderous higer, he is not allowed to transfer attention, so that IBM "betrayal" Morgan Stanley's wind wave is turned on as soon as possible, so I think I think, Shen Wei said: "IBM PC Company Direct Competitor Apple Computer company should have IPO's intend. "

If you put it in the usual, small Apple Computer Company, I will definitely can't enter Bob Baldwin's eyes, but at this time, he is very interested, "then collecting the information of Apple Computer Company, yes, and More detailed information on high-performance and David. "

......

IBM and Morgan Stanley are divided into Wall Street vibrating. At the high-quality and Solomon brothers, Goldman Sachs meeting, the chords did not hear the speech of the gloat.

There is also a chart of gossip, saying that Morgan Stanley suddenly purchased a batch of Hitachi calculators, put it in the office, which will never happen before.

Senior strings can be wasted to waste on these talks. At present, his first priority is clean and beautiful to complete the business of IBM bonds.

IBM's scale of issuing bonds in the public field is $ 1.5 billion, setting records in this field, and the high interests have been divided into one-third of the issuance share, which means, at least in this business, and Solomon brothers, Goldman Sachs, flat up.

The most significance in this is that the chords of the horses are further moving to the Wall Street Center.

In other words, this business is a model, and the next high has capital, like Morgan Stanley, such as investment banks, to contact the French and large enterprises.

Solomon brothers and Goldman Sachs have been tested, and if they can completely digest the issue of $ 500 billion bonds, they can help.

Senior strings naturally will not accept this kind of heart, the so-called "good intention" of the smile, if it is not even such energy, then the old man is still mixed on this hot pit.

For IBM bonds, although IBM has suffered from anti-monopoly investigations after entering 1970, it is too strong to run downhill, but the previous bottom is too strong, so IBM bond has excellent reputation, and is already the highest. AAA level, that is, the risk is less than 5%.

At the same time, as the US dollar of the world currency constantly depreciating, and the domestic inflation of the country is high, and there is a good asset preservation method.

In the country, it is better than that of Solomon Brothers, Goldman Sachs, which has accumulated in many years, but the same grounds are deeply in the Asian region of Xiangjiang, and even radiation.

Others don't mention, the light is the privilege, the royal family, in order to settle the asset, there is no unsuspended US asset, and the most ideal asset is the large company stock, high rating bonds, etc., the first 50,000 company stocks, high rating bonds.

When the news that he was invested in the IBM bond back to Xiangjiang, less than a week, the subscription exceeded 100 million US dollars, which was really hard to make the chord in Wall Street waist.

To be honest, even if you don't make money, you will lose money, because the qualifications must have a well-known accumulation process, otherwise, how to fight for the upcoming British state-owned enterprise privatization This bigger cake?

At the same time as the town is high, it is also worried about the IBM Personal Computer.

IBM is not stupid, only to let the chord selling the Huanyu personal computer leisurely lying on the money, the founder of the Huanyu personal computer, but also enters the IBM board, escort the next performance for IBM PC .

IBM acquisition of Huanyu computer company does not have any obstacles. After all, Huanyu Computer has no listing, and Lianhui Bank's important investors have listened to the high strings, other investors have no uncomfortable, not to make a big profit A pen.

At present, the first goal of IBM personal computer company is market share, allowing product sales in line with, it is best to exceed Wall Street expectations, as regard to profits, etc., it is not too late.

Obviously, product prices have certain effects on the sales of IBM personal computers. In terms of corporate market, 10,000 US dollars can be accepted because the cheapest small computer, such as the PDP-11 of the data equipment company to 20,000 US dollars.

And · PDP-11 is the sixteen IBM personal computer, which is the fourth generation of Huanyu personal computers. The price of the market is from five thousand dollars. As the memory is different, although it has improved, there is no breakthrough. 10,000 US dollars accept the psychological gate.

For the market share, IBM PC can not give up the market price of one or two thousand dollars of the third-generation Huanyu personal computer, the second-generation Huanyu PC and the first generation of Huanyu personal computer under the first generation of Jiangshan.

To this end, the solution given by the chords is that the CPU vendor takes out the specifications of shrinking products on the Sixteen CPUs, and cutting the package, which greatly reduces the cost of IBM personal computers, and builds IBM entry. Personal computer products won personal users and home users for price-sensitive prices.

It also satirically, the personal computer is named, and its target customer should have a personal and family, but at this stage, customers who drive personal computer market are enterprises.

Of course, entry version of IBM PC can basically meet the needs of individuals and families, as software provides seamless docking.

It can be said that the personal computer is now equipped with the three types of software, the text processing, and miniature databases, which is the product that people love, and pay the money.

However, IBM is under anti-monopoly pressure, although I won the entire hardware chain of IBM personal computers, but I didn't dare to touch, even in order to avoid suspicion, when I know that IBM personal computer is randomly equipped with an operating system, take the initiative Indicates the IBM PC to select the user in the operating system.

No matter how, software, especially spreadsheets, IBM personal computer can win the biggest hero that the market recognition is, so the IBM PC is launched while introducing the door-to-door hardware product, and cannot ignore the boosting effect of the software.

As for the IBM PC contact advertising, even Hollywood, make exciting advertisements, don't worry,

He only needs to ensure that IBM personal computer runs on the correct trajectory, it can guarantee IBM to acquire Huanyu Computer Company, as well as issuance of bonds, and become a high-capacity close to Wall Street center.

It is worth pointing out that although the chord sells the Huanyu personal computer to IBM, this does not mean that he leaves the IT.

For example, it is developed for the Huanyu PC platform, including spreadsheets, text processing, miniature databases, finance, transfer deposits, etc. Enterprise applications, still in his hands.

Further, the graphical user interface operating system, RISC processor, workstation, server, etc. are accumulated, and it is also controlled under the Higher Pan.

To this end, the essays are planned to scatter into such resources in all areas, and the CEO is tuned from the CEO, which is also directly recognized by him for so many years.

Senior strings are busy, the "Wall Street Journal" suddenly contacted him, I want to interview with IBM to acquire Huanyu Computer, to explore the story behind the camp.

If other interviews are, the chords can be specially taken out, but he successfully flicked IBM to acquire Huanyu computer company, which can be derived from a lot of follow-up, such as IBM betrayed Morgan Stanley's dog blood plot, it is really media It is not unseeded by unsecredient.

So, the chords were promising, sincerely decounted, the reason is that he has to deal with it, you must start immediately, or wait for the opportunity to interview.

The chord is very honest. The next day left the rice, because there is still another big potential, waiting for him to capture.