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01

this american friend's name is jim rogers, a financial tycoon on wall street and a super rich man.

in addition, he also has an eye-catching nickname——wall street’s biggest “middle blow”——for more than 40 years, no matter how the world economy changes, he has always been firmly bullish on the chinese stock market and never changed.

in recent years, because he said too many things that were optimistic about the chinese stock market, rogers was "smeared" by the american media, calling him "a fellow traveler of so-and-so." rogers simply ran away to singapore and continued to sing more about china.

a great man once said: it is not difficult for a person to do something good, but it is difficult to do good things for a lifetime. this sentence applies to rogers: "it is not difficult to say something good about china when you are making money from china. what is difficult is to say something good about china when you are losing money."

how optimistic is rogers about the chinese stock market?

in 2005, he personally flew to shanghai, invested several hundred million in a-shares, and declared in a high-profile manner: i will not sell these stocks, but will leave them to my children and pass them on from generation to generation.

some time ago, the shanghai composite fell below 3,000 points, and many chinese concept stocks broke. the us media vigorously promoted "china's overcapacity", which led to a "china is a thing of the past" argument on wall street. traders have suggested that employers sell chinese assets. switching to india, trillions of hot money has burned the indian stock market to record highs.

"the washington post" connected rogers in singapore via video and asked him slightly sarcastically: are you still optimistic about china's economy now?

rogers said: he had just added to his position in chinese stocks and advised reporters to buy some too. "the chinese stock market is at a low point and there is 'gold' everywhere."

for the "unrepentant" rogers, the american media tried their best to smear him and labeled him a "traitor". he spread rumors that he made money in the united states, but did not pay taxes to the united states. he secretly transferred his assets to singapore and betrayed the united states.

rogers responded forcefully: he will not rule out the possibility of immigrating to singapore and giving up his american citizenship in the future!

02

in the past two weeks, as the federal reserve cut interest rates and the three major regulatory agencies released positive news, a-shares finally smelled the "calf" atmosphere - trillions of transactions, thousands of shares rose to the daily limit, everything was red, and huge amounts of money poured into the stock market, squeezing it to its knees. the trading system recovered 3,000 points in just one trading day. on the last trading day before the national day, it set a historic single-day increase.

wall street traders are all confused. didn’t they say that china is no longer good? why is the chinese stock market so strong? what happened?

but wall street is wall street after all, the most developed financial place in the world. after a brief shock, the major investment banks on wall street quickly adjusted their investment direction and purchased a large number of chinese concept stocks. the "china golden dragon index" has risen by 30% cumulatively. alibaba, pinduoduo waiting for high-quality chinese concept stocks to reach daily limit for many days.

what’s even more shocking is that super investment banks such as goldman sachs, morgan stanley, and jpmorgan chase decisively sold indian stocks to withdraw funds. it is rumored that 9 trillion foreign capital left india and japan last week and invested in hong kong. the hang seng index rose sharply in response.

the washington post also had to admit: the entire wall street is now discussing the chinese stock market, and every trader is afraid of missing out on this trend.

investors asked rogers: what is the secret to success?

he replied: don’t believe the american media, believe your own eyes and speak with facts.

03

there are loyal old friends like rogers, and there are fence-sitters like goldman sachs group.

our trust in goldman sachs was once unimaginable to outsiders.

here is just one example, the issue of currency issuance: at the beginning of the reform, due to lack of experience in market economy, we could not figure out how much currency should be issued every year. therefore, we asked goldman sachs to make a model to help us quantify economic growth and currency issuance. the relationship between quantities is used to guide currency issuance.

at the same time, goldman sachs group is also one of the biggest beneficiaries of the chinese stock market and has been deeply involved in the historical process of corporate shareholding reform.

from giants such as sinopec, cnooc, icbc, and life insurance to private companies such as country garden, baidu, and sina, they have all been clients of goldman sachs. goldman sachs earns at least tens of billions of profits from china every year through business consulting, overseas financing, bond issuance and other businesses.

so, how can goldman sachs not know how china’s economy is doing? however, under the pressure of american public opinion, when china needed goldman sachs to speak out the most, goldman sachs gave in and responded silently without saying a word, hoping to please both sides.

after china's stock market surged last week, many investors blamed goldman sachs for its slow response and missing out on the express train of wealth.

some bosses behind the scenes even called goldman sachs’ senior executives and asked them, don’t they claim that they are the american company that knows china best? why was such an important market opportunity not identified in advance?

goldman sachs ceo said he would immediately raise funds to make up for previous losses.

we must be cautious about such fence-sitters in the future. we welcome them to invest in china, but we can no longer allow them to participate in large-scale projects related to the national economy and people's livelihood. not only must the core technology be in your own hands, but the core data must be closely protected!

04

when giving lectures in china, an entrepreneur asked rogers: we all lack confidence sometimes. why do you, a foreigner, have so much confidence in us?

rogers replied with a smile: because i made money here! lots, lots, lots of money!

there was a knowing laugh from the audience.

rogers said that 40 years ago, after making his first pot of gold from the u.s. stock market, he struggled for a long time whether to invest in india or china. in the end, we decided to go to two countries to investigate the situation.

in india, he found the locals dejected, scrawny, and smileless;

although chinese people at the same time were also poor, they held their heads high, smiled, loved to joke, had enough to eat, loved to be clean, and were looking for opportunities to make a fortune.

rogers said it was at that moment that he decided to jump on the china ship and never thought about getting off.