"Karl Icahn's annualized yield on Icahn's capital compound interest is even higher than Buffett, Madoff, and Hun Rose, but the gameplay is completely different. He keenly observed the differences in interests between senior managers and shareholders of listed companies, and used various financial means to make profits."

"When a senior manager pushes up the stock price in order to get equity and option rewards push up the stock price, causing the company's value to be separated from the fundamentals, he manipulates the media to repeatedly criticize and starts shorting. When the stock price of a company is lower than the actual value, he will turn to absorb funds and wait for an opportunity to launch malicious mergers and acquisitions. The more intense the management's resistance, the easier it is to get into his trap. Whether it succeeds or not is profitable. One of the most typical methods is a company raid, and a huge amount of shares of listed companies he is interested in will settle down in the strategic shareholder position and force the company to make management or strategic reforms, so that the stock price will rise rapidly in a short period of time."

"But Carl Icahn actually didn't care about the development of the company, he just considered how to make profits from the acquisition and sale of stocks. In 1985, he took over Global Airlines and served as chairman. He began to act as a barbarian at the door to split the company's assets and obtain personal benefits. In 1988, he really couldn't stand his management and other shareholders using various means to invite him to the stage, and he had made nearly 500 million yuan, leaving the company with a huge debt of more than 500 million yuan, and later received various compensation worth more than 100 million yuan."

"So he hates the most the poison pill that is extremely lethal for malicious mergers and acquisitions (a large number of new shares issued at a low price, which reduces the share of the acquirer's shares, dilutes the equity, increases the acquisition cost, and makes the acquirer unable to achieve the controlling target). He hates the board of directors of listed companies, especially those elected employee director representatives, and independent directors sent by the government or company's strategic partners. He claims that these people are simply impossible to consider the interests of the company and shareholders, and they only think about greedily getting more management holdings, dividends and high salaries to win the support of other shareholders."

"So he is not a complete short plunderer. He intends to control the business itself and is patient, and fights for control with management for a decade, such as his years of fighting over Marvel with another financial tycoon Perelman."

After rushing to Tokyo and returning to Highland Park, O'Grady reminded Song Ya, "3DFX should be a good hunting target for him, and the struggle may be long-term."

"But we beat him up this round, right?" Song Ya asked with a smile.

At the closing of the Nasdaq, O'Grady violently pulled the stock price from more than nine yuan to about 36 yuan, which means that the market value rose from 1.40 million to 5.60 million yuan in one day.

"But it's already out of fundamentals, Northern Trust will not allow me to do anything randomly."

O'Grady replied: "There is discipline within the company and pressure outside the company. Icahn Capital has mobilized the media this morning to ask the SEC (US Securities and Exchange Commission) to intervene in investigating the abnormal fluctuations in 3DFX's stock price."

"Do you think Carl Icahn can take enough stocks to close the position?" Song Ya asked.

"I don't know that he is a high-level player APLUS, but at present, it is difficult for the bears to get enough chips in the securities circulation market. It has only been more than a month since 3DFX was listed, and most of the stocks in your hands were out of the ban period. I caught them off guard." O'Grady replied.

"How much will he lose?" Song Ya asked again.

O'Grady shook her head, "It depends on how much leverage is used, but it must be more than he earns from Goodman and the others."

"Ha!" Song Ya expressed her satisfaction when she heard this.

It is undoubtedly true that Northern Trust made a fortune this time. It is a bit of a pity that O'Grady dared not use his money from Infoseek and other Netscape companies, but he would compensate him from other aspects, which was part of the private transaction between the two parties before his trip to Tokyo.

“We need good news.”

O'Grady said: "In order to save the stock price, 3DFX President Ballard claimed that he expected a profit of 60 million yuan this year was not reliable. Not to mention that Sega's big contract has not been won, even if he wins it, it will be at least a year later."

"They lied from the beginning and always got the benefits, and now they have become accustomed to it."

Song Ya looked coldly out of the study window, and the convoy of the 3DFX board of directors had just entered the gate of the Highland Park.

"I won't go down." O'Grady is no longer suitable for appearing in the same occasion as 3DFX people.

"Hey, APLUS, beautifully done!"

The stock price quadrupled in a day, and the director representatives of other shareholders were of course happy, while the director representatives of the fraud trio and Carmack were dissatisfied with their faces, and the president Ballard was worried.

"Look at this." The director representative of the second largest individual shareholder showed him a book of the financial magazine.

‘Extreme pressure madman! Sega, who entered Akiichiro, made great strides!’

On the cover, Akiichiro Izuiro hugged his hands and looked firmly at the distance forty-five degrees. The background is the scene of Song Ya and a white man bowing in front of the Sega Logo wall. The subtitle is 'The US 3DFX company in dilemma comes to apologize! An unfavorable lawsuit against Sega has been eliminated and invisible!'

"We still need good news." Song Ya smiled. If O'Grady didn't show up, she would repeat the words by herself.

"Do you think it's good for you to bow down to Books when you go to Tokyo? APLUS!"

Ross in the trio suddenly exploded, "We will soon win the lawsuit against them, and they will pay us tens of millions of dollars! The stock price will still rise by then, but now it's gone!"

Scott, the CTO in the trio, said: "I knew that as soon as the company was listed, you guys can do anything for the stock price. They are incredibly short-sighted and short-sighted! We don't need you to go to Tokyo to embarrass us APLUS. After Voodoo2 comes out at the end of the year, we can still shock the world!"

"Last year you advised me to continue investing money in VoodooRUSH plan, and the result is that the graphics card that often has compatibility problems has caused us to lose the trust of major customers such as Compaq!"

Song Ya responded unhappily, but unfortunately, due to physical physical reasons, the insufficient energy is now caused by insufficient energy.

"In fact, we should focus on the performance of 3D chips. There are many 2D chip manufacturers, fierce competition, thin profits, and insufficient technical reserves." said Carmack's director representative.

"You ID  Software is of course willing to produce 3D chips in 3DFX to provide your pure 3D shooting games with the best performance platform, but that market is very small!"

The director representative of the second largest individual shareholder fought back.

The board meeting soon became another resultless quarrel, but Song Ya could feel that her control had increased. Most of the representatives were talking to her. After all, she was the one who could lead everyone to make money.

He quietly observed and judged the situation and trust was established step by step. After that, the proposal to transform 3DFX himself will be more radical. It is impossible to say that he will definitely be approved by the board of directors. You must be patient and not rush.

"Stop arguing. It's the weekend. We have released the news that we have settled with Sega and continued to cooperate. What should we do when the market opens on Monday?" A director representative of an investment institution looked at Song Ya, "Is there any good news that can be released?"

"There will always be a day when you can't make up lies!" Ross in the trio said righteously.

Song Ya glanced at him.

"Why do you meet the people of Compaq on Sunday? Let me tell you later that they will still use our chips in the new PC in the future?"

No one paid attention to Ross, another director representative sent a proposal, "I have a way to ensure that Compaq will not rush to deny it. Anyway, it is a plan, and they will have to wait until their new product will be launched next year at the earliest."

"Yes." Good thing, Song Ya nodded.

While meeting Compaq's people, he also needed to promote public relations with the American media for the first time. It is not a matter of bending to others in public. The stock market reaction is very honest, and the media has a lot of negative comments.

At the entrance of Highland Park, Compaq's senior management appeared with the representatives of the board of directors here. He greeted Song Ya who was greeting him in person. He found that the other party's hand had only slightly raised a little and quickly apologized. He took the initiative to approach the wheelchair and picked up his hand and snatched it, and lowered his head to greet him.

‘APLUS! Have you begged Sega for forgiveness?’ The reporter ignored it and asked loudly while taking pictures.

"What should you do if you want me? I was in a coma for five months, and the cash on my account was stolen so that only a fraction of the decimal point was left. It was not enough to buy aspirin."

Song Ya collapsed and smiled bitterly at the camera.

This is really not a miserable thing. PGE law firm began to clean up the mess left by Goodman again. The cash in the A+ copyright and asset management company account was swept clean. If Song Asheng had not kept the money in his private account and the insurance compensation of CNA for him, he would have really not even be able to pay the travel expenses of his team to Tokyo.

The reporters laughed, "Is it your lawyer? I heard that they have evaporated!?" Someone asked again.

Song Ya's wheelchair has been pushed through the door by the bodyguard.

“I came from my personal relationship.”

Without outsiders, Compaq's people pointed out the director representative who guided him, "Unless 3DFX launches a more mature new graphics card, we will not purchase it anymore."

"I understand, thank you."

Song Ya nodded and expressed her love between the two, "I just need you not to deny this matter for the time being."

"That's fine. So... do you have a new graphics card?" The graphics card that PC manufacturers refer to is the kind of 2D and 3D functions integrated, such as VoodooRUSH. They may use Voodoo regular cards with only 3D functions in the top-level models of fever, but the purchase volume is insignificant.

"There will be, I promise." Song Ya promised.

"Really? You're lying to me, APLUS."

Compaq people don’t believe it. They worked in-depth before and after the release of VoodooRUSH. After the project failed, the relationship between the two parties was very poor, but they still knew the follow-up development plan of 3DFX. The three scammers in charge of technology were very frustrated by the failure of the project, but their idea was that VoodooRUSH’s failure proved the mistake of the business strategy. In the future, they simply focused on doing the 3D acceleration chips in their old business.

"I do my best, after all, I am the chairman, right?" Song Ya smiled.

"Oh, by the way, if you don't mind, someone wants to talk to you."

Unexpectedly, the senior executives of Compaq did not come here entirely based on their personal friendship with the director representative. He took out his cell phone and said, "The other party asked for a private communication."

"Well……"

Song Ya had no choice but to answer the call.

"Is it convenient for Icahn Capital? APLUS."

It turned out to be Carl Icahn's man. Song Ya glanced at the senior executives of Combat who went to the lawn to chat with the director's representative friend, "Please say." Song Ya signaled to Sloan, who was holding his cell phone, to listen together.

Sloan lowered his head, and the two of them looked close to each other through their cell phones.

"If we trade, what are your conditions?" the other party asked.

Stock and futures markets are more dangerous and lack of information. Listening to the meaning of the words, Carl Icahn seems to have a short order and is trapped?

But this may also be a trap of detecting the truth. Song Ya and Sloan looked at each other, "PGE Law Firm requires you to provide two financings for Ameriga Music website. They found that the special funds you participated in the financing include Goodman, Hamlin and Dilai's money. The money is actually mine, and they stole it from me."

If the other party doesn't look for him, he will also look for them about this matter. After the 3DFX break is opened, it would be great if Carl Icahn can really threaten him. He helped Goodman and Hamlin transfer funds and helped Dilai operate the Ameriga music website to split and list, which is a key figure.

Ameriga Music website does not make money and loses a lot. Now most Internet companies play this way. It was nothing, and it was no problem to be listed.

But his long-term coma gave Dilaike an opportunity. The preliminary investigation result of PGE lawyers and Alicia was that Dilai used the reasons for filing for bankruptcy protection to introduce external funds. The new law firm, accounting firm, Goodman, and Hamlin replaced by Dilai, were all cooperating with the spin-off plan called Save the company, and the debt was dumped on his parent company A+ Audio, which owned 85% of the shares. Carl Icahn and other institutions got the opportunity to enter the market at a low price during the two financing periods, and at the same time, it was convenient for Goodman and others to embezzle their shares.

This is a classic conspiracy between hungry wolves inside and outside taking advantage of the inability of major shareholders, and a feast for senior managers and capital.

"You misunderstood, APLUS."

The other party smiled and replied: "My transaction is how you will compensate us if we don't pursue the crime of doing insider trading with certain institutions."

"PGE Law Firm will soon initiate a lawsuit to stop the listing process of Ameriga Music website. You don't have much time left." Song Ya ignored this. According to the current Internet bull market, when Ameriga Music website is listed, Goodman and others' wealth will soar. He will not give in to this matter.

"What's the benefit for you? After all, you still own 85% of the shares of A+ Audio, the parent company of Ameriga Music website, and A+ Audio owns 32% of the Ameriga Music website. You are still the largest shareholder in your personal terms."

It would be fine if the other party didn't say this. From 85% of the time being colluded by these people inside and outside, it would definitely fall below 20% after the IPO. Song Ya was angry, "So are you thieves demonstrating to me?"

"You need to calm down, APLUS, and accept reality." The other party replied proudly.

"The reality is that you are begging around the bush, just to be able to talk to me." Song Ya retorted.

"Haha... Then there's no need for us to continue talking?"

"At least you don't deserve it."

Song Ya's eyes became cold and asked Sloan to hang up the phone.

"So, let's do it?" Sloan asked.

“Hand it.”

Over the weekend, 3DFX confirmed a settlement with Sega and announced that the partnership with Compaq next year may continue.

On Monday, 3DFX's stock price continued to rise slightly, fluctuating at a high of 40 yuan. Investors with stocks in their hands seemed to be still waiting and watching, but O'Grady issued two consecutive warnings during the session.
To be continued...