Chapter 833: Chapter 834: Wedding Invitation
[Chapter 834: Wedding Invitation]
Based on the trajectory of the Nasdaq over the coming years, Eric's stock investments from the past two years were likely to yield at least five times his initial investment when cashed out at the right moment.
After buying $2 billion worth of Nasdaq IT stocks last year, Eric planned to invest another $4 billion this year and next while the Nasdaq index remained below 2000, and begin cashing out in phases once the index hit 3000.
Compared to this plan, the currency speculation during the Asian financial crisis appeared less enticing. After months of operations, the returns might barely reach twofold, making it seem unworthy if too many funds were tied up in it, ultimately delaying the opportunity to purchase IT stocks at the right price.
At the same time, Eric wanted to avoid attracting too much attention from Southeast Asian countries. Whether it was Firefly Group or Firefly Investments, both would eventually aim to develop business in the region. Thus, he was only willing to contribute $300 million this time to simply join in the fun and make a little pocket money; after all, the girl had long wanted to buy a Boeing 777.
Chris was aware of Eric's situation and didn't think that the $300 million was too little. However, after some observation, Chris perceived the Asian economic crisis as an opportunity. He remarked, "I leveraged a portion of my equity in the company and secured a $300 million loan from JPMorgan. Emily's family is also willing to pitch in $100 million, so combined, we have $700 million."
"$700 million -- that's a pretty lucky number," Eric laughed. Chris's 3% stake in Firefly Investments was valued over $1 billion based on their current asset size. Eric didn't find anything wrong with it, knowing that even if Chris lost the entire $300 million, a 1% stake loss wouldn't have a substantial impact on Firefly Group. Moreover, this was purely a game of how much could be earned.
The coincidence of the number arose from Eric's earlier bet on Kuwait's oil futures, which was also in the vicinity of $700 million.
Chris immediately recalled how they had both thought Eric was crazy back then, only to see the results turn out to be wildly successful. With a chuckle, Chris added, "This time around, we surely won't see returns as crazy as before. Based on what I have, international hedge funds will need about three months to establish short positions following this exploratory strike. The next wave should be around July. In that three-month period, everyone's rushing to position themselves, and the competition will only reduce leverage, so being able to achieve even a 100% return would be quite good."
Although Chris had been focused on industrial investments for the past few years, Eric could tell that Chris hadn't lost his touch as a finance major. He remembered that the Asian financial crisis officially erupted on a grand scale in July.
"The potential returns from this money aren't what matters to me. I'm more concerned about the impact on the federal economy," Eric continued. "If the emerging Asian economies are destroyed like those in Latin America during the '70s and '80s, and Europe's economy hasn't recovered yet, a flood of hot money will flow into the North American market. It's easy to imagine; North America will experience another super bull market."
Chris nodded, considering his words. He said, "Eric, I know you have a detailed plan in mind, but I just want to remind you -- not to hesitate when it's time to cash out. From my perspective, the Nasdaq market already shows signs of a bubble. Look at Microsoft; they had an annual net profit of only $2.1 billion last year, and their current market cap has skyrocketed to $120 billion. That's way overvalued. The North American stock market doesn't have any trading halts, and if we wait too long, your $6 billion investment could turn from massive profits into significant losses in a single day."
"From where I sit, Microsoft's stock price hasn't even approached its peak," Eric replied seriously. "But don't worry, Chris. You know I'm not the type who lets greed cloud my judgment."
"Right," Chris nodded, then suddenly smiled, "Speaking of which, I attended a family party hosted by Steve Forbes last week. I got some figures from the upcoming Forbes billionaire list. Want to know how much you're worth?"
Forbes usually published its annual billionaire list around March, and Eric subscribed to the magazine. He remembered that this issue was slated for release the following Monday, but before that, there had been a flurry of discussions across various financial media regarding the Forbes rankings. Even if Eric hadn't been closely following, he would have heard some snippets of information.
Watching Chris build suspense, Eric grinned, "I'm curious to know what Forbes has estimated your wealth at."
"$1.1 billion, which pales in comparison to yours."
Chris shrugged, but he felt extremely satisfied. From a regular analyst at Morgan Stanley to amassing over $1 billion in six years, he surely ranked among the highest-paid fund managers in North America. While there were many family investment funds similar to Firefly Investments, those fund managers, despite their high salaries, rarely had access to equity.
Chris also understood that although Eric did little to manage the specifics of Firefly Investments, he was fundamentally the key figure behind its current scale. Chris was merely the executor. Without Eric's keen eye in identifying companies like Cisco, America Online, and Nokia, or his crucial role in establishing Yahoo, Firefly Investments would never have grown so rapidly.
Thinking about it, Chris picked up his coffee, took a sip, and said, "Forget it; you can check the Forbes magazine yourself next week. I'll leave you a surprise. I should probably head out now."
It was Thursday -- a workday. Chris had flown in from San Francisco, and neither of them was idle. Eric didn't try to prolong his stay, intending to walk Chris outside when Chris didn't budge. Instead, he pulled an envelope from his briefcase and handed it over.
"What's this?" Eric asked curiously. Seeing that the envelope wasn't sealed, he opened it and found a wedding invitation. Glancing at it, he looked up with a smile. "You and Emily are finally planning to tie the knot?"
"Yeah," Chris replied, a bit embarrassed, gesturing vaguely. "My dad and Emily's parents have been pushing us for a while. More importantly... Emily is over a month pregnant now."
"Wow, congratulations! You're going to be a dad!" Eric remarked, glancing at the invitation again. "May 20th -- what a nice date. Where are you planning to hold the wedding?"
"Maryland, at my dad's farm," Chris said, adding a hint of complaint, "You know Emily's personality. Ever since she found out she was pregnant, she's been angry at me for delaying her career. But there's really no reason to postpone any longer; my dad and her parents won't allow it."
"That's just pre-wedding jitters. It'll be fine after a while," Eric assured him, putting the invitation away. "So how are the wedding preparations going? Have you both invited anyone?"
"Dad and her parents are in charge of that. You know, they're retired, so they have plenty of time. You're the first one to get an invitation; we haven't finalized the guest list yet."
Eric pondered for a moment and suggested, "If you don't mind, why not take this opportunity to bring everyone together for a gathering?"
"Everyone?" Chris asked, puzzled.
"John Chambers from Cisco, Steve Case from America Online, Jorma Ollila from Nokia, and Ian Gurney from Yahoo. Plus, from Firefly Group, there's Katzenberg, Frank, and Robert..." Eric listed off. "Usually, we don't have a chance to get together. Your wedding would be the perfect occasion -- just like last year's Yahoo Alliance Conference. I've always thought we should gather at least once or twice a year."
"But wouldn't that be too much of a spectacle?"
Chris hesitated, realizing that Eric's idea would translate to a major gathering of the Firefly network's top management. It would undoubtedly attract more media attention than last year's laid-back encounter at the Yahoo annual meeting.
Eric joked, "Come on, it's a wedding! I really think you'll only have this chance once in your lifetime; it should be as lively as possible. Well, of course, you can talk to Emily about it first. If you want to invite any Hollywood stars to show up, just let me know, and I'll help you with the invites."
"Alright, I'll discuss it with Emily tonight. As for the stars, we'll pass," Chris accepted, packing his briefcase and standing up. "Oh, and about Joan and her side, Emily and I won't be sending them separate invitations. Just bring them along to Maryland; you can take a few extras if you like."
"Don't worry, I won't let you miss out on the fun," Eric laughed, playfully punching Chris on the shoulder.
The two continued their light banter as they walked out of the villa together.
...
After dropping Chris off at Santa Monica Airport, Eric went to Firefly Studios to review adjustments that needed to be made after a closed screening of Casino Royale. He had been busy with this project recently.
Working until 7 PM, Eric finally clocked out, and there was an added guest in his car, Christina Aguilera.
There were a few scenes involving Christina that needed adjustments, so she had been assisting with voiceovers at the studio's post-production center that afternoon. After Venice, the two hadn't found much time together, but after hinting subtly a few times, Christina patiently waited for Eric to finish work before he took her home.
After having dinner at a restaurant in Malibu, they arrived home after 8 PM.
The petite girl didn't spare any effort in flirting with Eric. Just as they were tangled together on the bed, Eric's phone unexpectedly rang.
Letting go of Christina, Eric checked the incoming call -- it was Chris calling.
He answered the phone and casually threw on a bathrobe as he stepped outside.
Eric didn't feel the need to overly guard himself against the women in his life; all he aimed to do was prevent them from making mistakes, which worked out best for everyone. It was already late night in New York when Chris called, suggesting that it must be something important, and so Eric preferred to keep Christina from overhearing.
Leaving the bedroom, Eric pushed open a small lounge upstairs, walking to the balcony to speak with Chris.
However, Chris didn't have anything too pressing to discuss; he brought up the topic of inviting Firefly management to his wedding, saying Emily had agreed and called to inform Eric.
They chatted for a few moments, and eventually, the phone was handed over to Emily. They talked about a few details, and once Eric hung up, he couldn't help but feel amused and a little sympathetic towards Chris. After flying around both coasts, having just returned to New York, he hadn't rested yet so late at night; apparently, Emily had been quite demanding lately.
A woman who discovered she's unexpectedly pregnant and dealing with pre-wedding jitters? Strong-willed -- yikes, that scene sounded terrifying.
Hanging up the phone, Eric returned to the bedroom and put the phone back on the nightstand, directing his gaze to the bed.
Christina lay nestled on the bed softly, her face flushed and eyes dreamy, looking like a well-loved doll. Although Eric knew she was just acting, he still felt a surge of desire and reached over to give her a gentle squeeze.
With a soft gasp, Christina curled into a tiny ball but tightened her embrace around Eric's hand, the sparkle in her eyes even brighter.
Lifting her up, Eric settled back onto the bed. "Hey, come sit on me and move around."
...
Perhaps they had played too hard the night before, as Eric was jolted awake by Christina's voice.
With the curtains automatically drawn open, bright sunlight flooded the room, forcing Eric to shield his eyes.
Holding a newspaper, Christina leaned beside him with a glint of excitement in her voice, "Eric, the latest weekly box office for Titanic is out! It grossed $22 million this week, totaling $469 million -- it broke the Star Wars record! You have to take a look!"
*****
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