Tianshan creatures rose by nearly 5% in 11 days and 12 trading days. Such a "uber" is doomed to go down in history.

It is not as simple as a leader. As the first demon stock under the GEM registration system, it has left an indelible "trace" for the market outlook.

Recently, the U.S. stock market plummeted and there was a new script. Masayoshi Son and his Softbank were pushed to the forefront, and a capital battle to encircle Softbank was staged on Wall Street.

What made Masayoshi Son "last stand" in his sixties? Can Softbank continue to write legends?

Sun Zhengyi, born in Japan in 1957, is an internationally renowned investor and chairman and president of Software Bank Group.

In the global equity investment market, Sun Zhengyi is famous for his love of investing in young technology companies, and has hatched a number of technology unicorns. He often compares Softbank's investment portfolio to the stars in the Milky Way, saying that they "will continue to shine for 3 years".

among all its investments, the most famous one is the investment of $2 million in Alibaba, which earned 17 times after its listing, making it the richest man in Japan.

It is such a legend, but in 219, it ushered in the biggest "Waterloo" in life. Softbank's annual report in 219 suffered a huge loss of 1.365 trillion yen, mainly due to the investment loss of its Vision Fund as high as 1.8 trillion yen.

Uber lost $5.2 billion, WeWork lost $4.6 billion, Wirecard lost $1 billion, and other companies lost $7.5 billion together.

In p>219, Sun Zhengyi's life was full of "big pits", and in 22, an epidemic was even worse: at least 15 of the 88 companies invested by Vision Fund will go bankrupt!

subsequently, Softbank's share price plummeted and nearly halved in just one month. not only that, the first phase of Vision Fund suffered a sudden loss, but the second phase of Vision Fund was directly "stillborn", and investors, shareholders and friends for many years left one after another.

At this time, there is a saying in the investment circle that companies invested by Vision Fund can be sold immediately!

After investment failure and betrayal, Sun Zhengyi came to a crossroads in his life.

Softbank's most valuable asset is holding about 25% of Alibaba's shares, worth about $2 billion. In order to withdraw funds, Sun Zhengyi had to sell some companies such as Japan Telecom and Ali.

Some people joked that the money Sun Zhengyi earned on Alibaba by luck was lost on other companies by strength.

But if you think that Masayoshi Son only takes the money to pay off debts, it's all wet!

After a short "rest", Vision Fund has set up a $1 billion asset management company. This powerful investor who once dominated the global primary market is back!

This time, he turned his attention to the secondary market that he had never been involved in: what he lost in the primary market must be won back in the secondary market, so he went to the world's largest "casino"-the United States!

It was the spring of 22, when the COVID-19 epidemic was raging in the United States, and the Federal Reserve began to release water. In the American stock market, which experienced four blows in 1 days, there were funds to raise star technology stocks such as Tesla, Apple, Amazon, Microsoft and Netflix.

on September 4th, all this "surfaced" with the news of insiders in the Financial Times.

It turns out that Softbank bought nearly $4 billion of blue-chip technology stocks such as Amazon, Tesla and Microsoft in the first quarter, and also bought $4 billion of call options for these technology stocks and other leading technology stocks.

Call option refers to the option that gives the holder the right to purchase the underlying assets at a fixed price on or before the expiration date.

Because the option has a high leverage, this allocation is equivalent to buying 5 billion US dollars of stocks in the secondary market.

As soon as the news came out, the market fluctuated violently. There were fanatical followers who were optimistic about technology stocks, and some worried that the scale of options was too large. After all, Sun Zhengyi had not directly participated in the secondary market before, which caused concern among Japanese retail investors, and Softbank's share price once plummeted.

Nasdaq also crashed by 1% in just two trading days. On the surface, the collapse of Nasdaq and technology stocks is mainly due to traders' concern that the valuation of technology stocks has been high, and after continuous surge, the profits will be rich, and they are also worried about the uncertainty brought by the US election.

However, another version has gone viral in the market: Market makers and short-selling institutions from Wall Street saw that the options would be smashed the day before the expiration date, and the hedging positions would be closed at a faster speed, with only one purpose: to encircle Softbank! Wall Street's consortia usually compete with each other, but it is unprecedented for Softbank's "outsiders". Wall Street: How can you be so rampant in my site!

after two consecutive trading days of frantic short selling, on September 5th, a deep "V" was added after the smashing. Suddenly, voices of "conspiracy theories" were heard everywhere.

after the Nasdaq crash, many people wondered whether Softbank still held these stock products, and was it "stepping on thunder"?

In fact, as early as August 26th, SoftBank stated in a conference call: "We spent $1 billion to buy stocks, and now we have sold $7 billion of stocks. We think this is a kind of' capital operation', and we can get higher cash returns by buying highly liquid assets. "

it is not difficult to see that Softbank has sold most of its publicly invested shares. Masayoshi son has floated away with billions of dollars through this gamble, especially betting heavily on call options.

after the "darkness" of 219, Softbank finally ushered in a glimmer of light, especially in the secondary market that they are not familiar with, although the process is full of gambling.

But after this campaign, Softbank will not only gain fame and fortune, but also go further and further on the investment road in the future.

Back in the A-share market, 3313, a "gamble" set off a big A, and the "vision" of gold, nine silvers and ten silvers will not come true.