What's wrong with me being a rich man?

Chapter 629 Avoiding Danger (4k)

Can I talk about my views on business competition in certain areas?

"of course can."

"May I mention the prospects of certain publicly traded companies in a particular sector?"

"This one……"

Zeng Jingyi's rapid-fire questions and answers stalled when Yu Xing asked her questions after she regained her composure.

Logically, it should be fine to talk about competition without discussing stock prices, but in reality, given that the "King of Short Sellers" is under immense scrutiny at this stage, the potential damage he could cause needs to be carefully considered.

“Then let’s not talk about companies.” Yu Xing smiled at the Phoenix TV reporter. “If you point to a company today and its stock price drops, then you might also be considered one of those who have gone through the peak.”

Zeng Jingyi sensed a subtle sarcasm in the conversation. Indeed, many people, besides investigating Yu Xing, were also listing people who might be members of Guoshanfeng.

“I’ve explored quite a few things, including mountain peaks. I’m also quite interested in competition in different fields, so I take a look at them more.” Yu Xing gave an example: “For instance, the competition in SaaS became quite fierce last year, and Microsoft also developed its own Power BI.”

Zeng Jingyi's face showed confusion.

Yu Xing noticed this and explained, "SaaS stands for Software as a Service. It means hosting software on a server and providing it to customers via the internet, eliminating the need for local installation and maintenance. It has seen rapid growth in the past few years."

The cameraman, who had been working quietly on the sidelines, suddenly brightened up and quietly memorized this scene. Zeng Jingyi didn't know, but he did. Famous SaaS companies like LinkedIn and Tableau had already gone public.

Of the four giants in the SaaS field, Salesforce now has a market value of over $600 billion.

Zeng Jingyi admitted her unfamiliarity: "President Yu, I understand what you mean, but I really don't know much about these companies. If I were to briefly describe your opinion, do you think that because of the entry of companies like Microsoft, the competition in this field has become more intense, making it harder for companies to make money?"

“Yes, that’s exactly what I mean.” Yu Xing nodded and smiled. “Based on my own experience over the years, vertical segmentation and differentiated strategies are indeed two magic weapons in business competition. But as giants like Microsoft and Google get stronger and stronger, once they decide to enter a certain market, everyone’s life will naturally become more difficult.”

He added, "SaaS has developed rapidly in the past few years, but frankly speaking, it is just an emerging software company. Compared with traditional software companies, they can get a price-to-sales ratio of 20 to 30 times. I personally think the market is a bit too hot, and everyone's expectations for their high growth are too optimistic."

Zeng Jingyi commented, "This sounds quite different from Guo Shanfeng's past style, but..."

She said earnestly, "But it easily reminds me that Mr. Yu has also achieved outstanding results in the domestic mobile internet field. There is a saying that he transformed into three pure things in the past two months. I also brought a photo with me today."

As Zeng Jingyi was taking out photos, the photographer couldn't help but quietly press the record button on his phone, preparing to go back and research the companies that the short-selling king might not be optimistic about.

Yu Xing took the reporter's photo, looked at it for a few seconds, and then burst into laughter.

The scene looked like a cosplay event in Hong Kong. There were three people standing in the photo, with silicon carbide, silicon carbide data and a mountain peak on their foreheads respectively. They were performing the recently popular "One Qi Transforms into Three Pure Ones" dance.

Zeng Jingyi asked, "President Yu, what are your thoughts?"

“I once thought that these business competitions wouldn’t be too mainstream.” Yu Xing shook his head. “But I have to say, the mobile era is also an entertainment era. Everyone gets what they need, which is good. But this is indeed abstract.”

Zeng Jingyi continued the previous topic: "Mr. Yu, besides SaaS, would you be willing to share any other perspectives?"

“Basically, these are all relatively niche markets.” Yu Xing asked his secretary to refill the water and pondered for a moment. “For example, companies that make wearable devices, such as smart bracelets and smartwatches, are increasingly facing competition from smartphone manufacturers like Apple, Huawei, Samsung, and Xiaomi. They are facing full-scale competition in the high, medium, and low-end markets, which makes it difficult for me to be very optimistic.”

The cameraman was still a bit unclear about the King of Short Sellers' previous comments on SaaS, since there were several listed companies and he wasn't sure which one he was specifically bearish on. But when he heard about wearable devices, one name immediately popped into his head—Fitbit.

Fitbit is the No.1 in the wearable device field; however, Apple, Huawei, Samsung, Xiaomi, and other manufacturers have indeed launched similar or related products.

He was wearing a Fitbit wristband and had even considered trying Apple products, which perfectly aligned with the mindset of a consumer like himself.

The cameraman was thinking about “comprehensive competition across high, medium and low markets” and the more he thought about it, the more he felt that the logic was very simple. Fitbit was a company that went public in June last year. When it went public, it had a market value of more than $6 billion. It then surged to $10 billion in just over a month, but now it only has a market value of about $4 billion.

Is this not the bottom? Can it go even lower?

Yu Xing took a couple of sips of tea and casually listed another area he was more familiar with: SaaS was inspired by and followed up by Carbon Silicon Data Company, wearable devices came from Liu Wanying's attention, and gene sequencing was something he habitually explored.

"In the field of gene sequencing, technological iteration is slowing down, and market growth is also slowing down. This is something worth noting and analyzing, even just from the perspective of listed companies."

Zeng Jingyi smiled and said, "President Yu, this sounds like a direction you would pay attention to."

Yu Xing nodded and said, "I do, intentionally or unintentionally, pay attention to some advancements in the medical field."

Zeng Jingyi asked, "So, are you aware that you've recently acquired a new nickname? It's because you mentioned your medical background at a media conference a few days ago, so..."

She paused for a moment and then said, "Now many people are starting to call you 'the butcher'."

Yu Xing was about to smile when he suddenly froze at the last word: "This form of address..."

This title is different from what I imagined; it should be a doctor wielding a scalpel to punish past mistakes and prevent future ones...

He held back: "Well, this is a bit of an impolite way to address someone, but it's fine, everyone can call me whatever they want."

"Mr. Yu, in the highly competitive fields you just mentioned, these are the fields you wouldn't short sell and establish positions in, right?" Zeng Jingyi tried to clearly distinguish between the past facts of Guo Shanfeng and what Yu Xing was talking about today.

“That’s how it is right now,” Yu Xing said earnestly. “The areas I just mentioned are just fundamental research, and to some extent it’s out of interest. But yesterday I saw news that someone was seeking huge compensation from me, so I might reconsider the situation in the future. Of course, everything is based on compliance.”

Zeng Jingyi immediately asked, "Did you violate any regulations when crossing the mountain peak or in your past actions?"

Yu Xing replied, "I don't think so."

Zeng Jingyi added, "So this is based on the law, right?"

Yu Xing replied matter-of-factly, "Of course, the law shall prevail, and I believe in the fairness of the law."

Zeng Jingyi made a hypothetical question: "What if the law has ruled that Shanfeng has violated regulations and even needs to pay fines?" Yu Xing replied: "Then let's see what kind of short selling is legal and compliant, and then find a few short selling cases that can result in fines."

Zeng Jingyi: "..."

This sounds like a joke, but coming from the king of short selling, it's not funny at all.

She followed up with, "So, even under the current circumstances, Over Peak will continue to operate? I mean, will Over Peak still issue research reports that it considers to be correct, just like before?"

“Since no region has ruled that the mountain is illegal so far, why can’t it be investigated?” Yu Xing gave a clear answer: “Anything not prohibited by law is permissible. If I didn’t have Carbon Silicon Group and Carbon Silicon Data under my name, and was just a simple research institution, I probably wouldn’t have encountered too much pressure. A simple right or wrong question would be easier to answer by returning to the essence.”

"I still firmly believe that research on the mountain peaks is extremely valuable, even if it is subject to pressure in reality due to various factors."

"Like I said before, I think authenticity is more important."

"Sharp truths outweigh perfect fabrications."

"Therefore, I also believe that a new research report will emerge after the mountain peak."

Zeng Jingyi sensed the uncertainty in those words and pointed out, "It doesn't have a definite timetable, does it?"

Yu Xing shook his head: "No, it brought some additional situations that I need to handle. So, judging and verifying which companies are committing fraud takes time, and I don't know when that will happen. However, from the real to the virtual, I think we can also explore some new value by going over the mountain peak, such as our views on some market areas that we just discussed."

“Then I have a question, Mr. Yu. Your businesses can provide you with enough wealth, and although Over the Mountain has been exposed this time, its 100% success rate so far can give you the upper hand in the controversy,” Zeng Jingyi asked. “Then why continue to operate Over the Mountain?”

Exposure of the peak will bring restrictions. At the very least, Yu Xing will need to pay attention to the disclosure of his positions in any future short selling. His current and future fund operations will also inevitably be monitored.

“I haven’t thought about this issue systematically. I just feel that it can bring value not only to me, but also to many other people. If the scam isn’t exposed, more people will get involved.” Yu Xing’s tone was very calm. “I don’t like scams. The bigger the scam, the more people it will hurt. This should be unconditional and beyond doubt.”

Zeng Jingyi did not comment on President Yu's answer, but continued: "You said in the media not to blindly believe in authority or short sellers, and you talked about the fundamental performance of Steinhoff, but the result was that as soon as you turned around, it collapsed."

“I’ve said it many times: what really causes those companies to collapse is themselves. From the perspective of the secondary market, sometimes it’s pure self-destruction, and sometimes it requires the intervention of external forces,” Yu Xing said calmly. “As for authoritative opinions, the choice is actually in your own hands, but in the end, it’s your own money that will be affected. You can only judge and think about this yourself.”

Zeng Jingyi didn't feel the impact of those words, but the cameraman next to her was startled, almost feeling that President Yu was referring to him.

The interview with Phoenix TV lasted half a day, and Yu Xing believed he was quite candid.

As the questioner, Zeng Jingyi reflected on the whole process as she got off the elevator and concluded that the "King of Short Sellers" was half honest.

She shared this feeling with her colleagues, and then muttered to herself, "But even half of it is honest, which is pretty good."

Cameraman colleague: "Hehe."

Zeng Jingyi added, "He was more... more restrained than I imagined. Hmm, why do I feel that way? Restraint, restraint."

She was pondering the comment that would come out, but then she heard a "hehe" sound next to her.

Zeng Jingyi couldn't help but look at her colleague: "What are you laughing at? What are you laughing at?"

The cameraman lowered his voice: "I just checked the companies in the SaaS market, and there are basically four companies."

Zeng Jingyi reacted a beat too late, then exclaimed in astonishment, "You're going to short them?"

“I need to carefully select them and look at their fundamentals,” the cameraman licked his lips. “But I’m planning to short Fitbit, the wearable technology company.”

He shook his wrist: "It's the company behind this thing I'm wearing."

Zeng Jingyi found it absurd: "This...this is not good."

Not good, not very professional.

Two people went up to interview people, but ended up profiting from the interview content.

The cameraman disagreed: "He didn't mention any company or stock price, he just said the competition is fierce. I believe his opinion and I respect his opinion."

The elevator door opens.

The cameraman jumped out of the elevator, saying, "That's what you call voting with your feet."

He then asked, "Do you want to buy it?"

Zeng Jingyi hesitated for two seconds, then felt ashamed of her hesitation and shook her head, deciding not to proceed.

The interview was generally peaceful, and even the legendary "King of Short Sellers" rarely expressed any excitement or indignation.

Zeng Jingyi looked at the footage captured by the camera and carefully considered the content of the manuscript, but instead gave a description of the opposite performance.

—I've met many people in my interviewing career, and it may not be the right thing to say, but it's my honest opinion. I've met many people with shattered moral values, but regardless of whether Yu Xing's moral values ​​meet the public's expectations, he does have a stubborn and strong core to support his operations.

—I often see people who claim to uphold justice but are just using different words to describe interests. But when I've faced a mountain with a 100% success rate, my doubts suddenly seem less credible.

Yu Xing will inevitably face a series of lawsuits, and may even have to pay exorbitant compensation. However, in the "bottle" of Guo Shanfeng, most of the liquid is "right and wrong," and the other half is "interests." These two are mixed together, causing huge controversy.

As Zeng Jingyi considered her interview and thought about the influence of the "King of Short Sellers," she unconsciously recalled the cameraman who jumped out of the elevator.

She added, "Guo Shanfeng's research report is like a dividing line between right and wrong. Many people are making complex evaluations of Guo Shanfeng and Yu Xing. Of course, they themselves are also very complex, but one thing is certain."

"When the mountain peak issues a warning, everyone must take immediate evacuation."

(End of this chapter)