Soros thought to himself, if you want to say no, just say so, Warren Buffett. That guy never does this kind of thing.

Soros opened his mouth and wanted to persuade him again.

But he heard Abel say to him: "George, are you interested in investing in Smith Capital?"

Before the words of persuasion he had just thought of came out, Soros was stunned.

"What do you mean?" Soros looked at Abel.

"Just like Warren, Michael and others. Invest in Smith Capital."

Abel made a condition: "Use the shares of Soros Fund Company, plus the shares of American Express. The proportion is the same as theirs, how about 4%?"

"Where's the valuation?" Soros asked almost without hesitation.

If Soros had heard Smith Capital's exaggerated valuation last year, he would have laughed it off and thought it was a joke.

After Buffett became a shareholder, Soros started to take Smith Capital seriously.

Wait until PNC Financial Services Group takes a stake later.

Soros has begun to seriously study Smith Capital.

Later, Bloomberg also became a shareholder.

Soros has met with Bloomberg privately, and the two Oilers have had many conversations.

After that, the Sword of Wall Street actually had some ideas about Smith Capital.

But at that time, Soros still disliked Smith Capital’s valuation as being too high.

Before it went public, it was valued at US$400 billion.

This number is too exaggerated no matter how you look at it.

But later when he was in London, Soros met Abel and witnessed with his own eyes how Abel made money.

Soros started to get really excited.

At this year-end reception of Smith Capital.

As suspicious as Soros is, he is also completely attracted to Smith Capital.

Now faced with Abel's proposal, he naturally asked it without thinking.

"There is almost a year difference between you and Warren." Abel said with a smile.

Soros immediately said: "Not a year! Only nine months. Buffett only joined your company in February last year."

"Okay. Nine months difference."

Abel looked at Soros with a smile, "I really want to continue using the valuation of US$400 billion. But now this company has more than just me as a shareholder. I have to be responsible for Warren and the others."

"you mean?"

"When you sign the contract, let them be present. Or you go and communicate with them. As long as they agree to $400 billion, then I agree. If they don't agree, then there's nothing I can do."

Abel smiled and said: "But because our relationship is so good, I guarantee that it will not exceed US$500 billion."

Five hundred billion dollars?

Soros couldn't help but frown, the price was too expensive.

For 4% of stocks, it would require US$20 billion.

Compared to Buffett and others, it is directly $4 billion more expensive.

It can be said to be very expensive, because the current market value of General Electric is only about 340 billion US dollars.

In other words, based on this valuation, Smith Capital is already more expensive than General Electric.

And it’s much more expensive.

Soros did not immediately agree, but he also did not refuse.

Because Abel still left a certain amount of leeway, he did some good things for Buffetts, and he didn't have to be the bad guy himself.

Cunning boy.

Soros thought for a while and said: "I will contact them. But I can't use all stocks. If I am sure that I want to buy shares, in addition to American Express's stocks, I will take out 5 billion US dollars in cash, and then

Add some Soros Funds stock."

"This is not possible." Abel shook his head and said: "To tell you the truth, Smith Capital is not short of cash at all! Let me tell you a secret, the cash that Smith Capital can use now has exceeded 100 billion U.S. dollars. Bibo

Hill Hathaway wants twice as much. I just want the stock."

"and."

He waved his hands towards Soros: "Only by holding shares in each other and cross-holding shares can we enhance our trust in each other. Don't you think this is better?"

Soros took a deep breath and said decisively:

"20% of the shares of Soros Fund Company are worth US$3 billion. The rest, I use all the shares of other companies, such as American Express."

Soros didn't agree, but after bargaining with Abel like this, he basically confirmed it.

In addition, the capital managed by Soros Fund Company is not very outstanding on Wall Street, only about less than 30 billion US dollars.

Among Buffett, Smith, and Soros, he is obviously the poorest.

Soros is not as rich as outsiders imagine. He has always been ranked around 30 to 40 on the list of richest people in the United States, with a net worth of US$12 billion.

Most of them are shares of Quantum Fund and Soros Fund Management Company.

4%, Smith Capital shares valued at US$20 billion cannot be bought by Soros alone.

Soros's idea is very simple. He can't eat it, but there are people behind him who can.

Like Bloomberg, the actual number of holders of 4% of Smith Capital shares is no less than five.

Bloomberg is just the trustee and occupies the vast majority.

Soros is the same now, and he will eat part of it. But the rest, Soros will distribute it to other interested parties within his own interest group.

The stocks equivalent to these 4% are actually held by more than just Soros.

Just like Bloomberg's 4%.

This is why Soros proposed to buy part of it with cash.

Some people who are interested in buying but do not want to expose their identity are not willing to take stocks and are only willing to cash.

"Can."

Abel stretched out his hand, smiled and said to Soros: "George, happy cooperation."

"Happy cooperation." Soros also smiled for the first time and held hands with Abel.

Karcha——

A crisp shutter sound sounded.

Soros turned his head sharply and saw David Jones, who often appeared next to Abel, holding a camera and pointing it at the two of them.

That was the sound of the camera shutter ringing just now.

"take it easy."

He heard Abel's laughter: "Haha~ take a photo as a souvenir. This way we can take a group photo together in the future."

Soros threw Abel's hand away angrily and said:

"If you do this, won't you worry about being said that we are acting in concert?"

There was no need for Abel to explain. Soros knew why Abel wanted to take this photo.

With this photo, Abel just had to ask his newspaper to send it out.

Then take this photo of two people smiling and shaking hands, plus the location and time it was taken.

Immediately, American Express's stock, which is currently trading at around $43, will plunge wildly.

"What are you afraid of?" Abel said indifferently:

"Just let the SEC and FINRA investigate. We are not really acting in concert. It is not me who takes the initiative to stir up our hostile relationship. The board of directors of American Express has put in a lot of effort."

Soros knows this too.

The laws regarding "persons acting in concert" are very strict and are also prohibited matters.

But this kind of thing also depends on the person, who is acquiring and the company being acquired.

As long as it is not recognized as a "person acting in concert" acquisition model, it doesn't matter even if it is in fact the case.

Soros took the opportunity to make a request: "The share price of American Express cannot be calculated at $35."

"Forty dollars, this is my bottom line. And you have to agree to a small request, something that won't be too excessive."

"No problem." Soros agreed directly.

I didn’t ask what Abel’s request was.

It is estimated that Abel's request is too excessive, and his promise will be invalidated.
To be continued...