Life at The Top novel Chapter 1546

Jerriman lived in San Francisco, a city on the west coast of the United States. He was a dentist. He had a decent job and a good income in this local area. His wife was a judge, and he had a son and daughter. No matter how you looked at it, his was an enviable family.

Besides work, Jerriman‘s favorite investment method was stock trading. In his opinion, handing the US Dollars to a group of fund managers who only knew how to suck blood and collect commissions was no better than doing it himself. Besides, he was also a staunch chauvinist who believed in great power.

He firmly believed that the United States was the strongest country in the world and that no other person or country could challenge the hegemony of the United States. Therefore, the recent turmoil in the United States capital market that had caused global investors to be in turmoil was not enough to scare him. He even thought that the group of Somerland investors had to be crazy.

Otherwise, how would they dare to face the United States head-on?

Under this premise, he bought 800 thousand US Dollars worth of stock at the highest price of 130 US Dollars per share on the first day of the battle.

After the market opened today, not only did the decline in Layman Investment Bank’s stock price not scare him, he also firmly believed that this was a huge opportunity to make money.

The United States government would inevitably intervene, and Wall Street Capital would eventually repel Somerland’s capital!

With this belief in mind, Jerriman used his financial leverage and offered all his assets as collateral in exchange for a full 6.4 million US Dollars. After this, he bought all of Layman Investment Bank’s stocks. The so-called leverage meant that while large gains were shown in multiples, losses were also magnified.

800 thousand US Dollars in principal, with a 5-fold leverage, would amount to 4 million US Dollars. Meanwhile, under the original 10% rise and fall limit, the maximum daily loss and profit limit for this 800 thousand US Dollars was 80 thousand US Dollars. With this 5 times leverage, an investment of 4 million would spell a loss of 400 thousand US Dollars if the daily loss was 10%.

Jerriman used 8 times leverage, which was the highest legal multiple he could obtain due to the comprehensive credit situation of himself and his family.

There were also some black-market leverages and private fundraising. They could magnify this rate to 20 times, 30 times, or even more…

While his income was swelling, his risks were also skyrocketing.

Jerriman thought this was a great opportunity for the beggars of Somerland to send money to the capitalists of the United States. Many people felt the same way.

In the beginning, as everyone expected, Quantum Fund began to enter the Layman Investment Bank stock market to lift the share price. However, JW Foundation’s determination exceeded everyone’s expectations. At this moment, they brazenly launched a decisive battle.

Thus, they were caught off guard. Quantum Fund’s defensive line broke, and Layman Investment Bank’s stock price plummeted as the empty orders were ripped apart like paper.

“Damn it! Damn it! Damn it!”

In the office of his clinic, Jerriman did not have the patience to put on a white coat that he so often did before.

At this moment, his eyes were red, and his expression looked ferocious. He wanted badly to smash the computer in front of him.

Layman Investment Bank‘s stock price fell below 100 US Dollars and reached the 99.5 US Dollar mark. Everyone could tell that if Quantum Fund did not continue to put in money, then it was only a matter of time before Layman’s stock price crashed.

At this moment, Jerriman’s loss had reached 750 thousand US Dollars.

Ring ring ring.

The phone on his desk rang.

Jerriman shot up from this chair as if he had been electrocuted. After that, he grabbed the phone and answered it.

“Mr. Smith Jerriman, I am the account manager assigned to you by the securities company. Now you have only 50 thousand usable principal left in your securities account. Do you need to increase the principal?”