chapter 175 part 1
Securities Manager
May 2, 2023 Author: Yue Shang Xintou
"I just want to get a little understanding of the current stock market trends."
Colin had no intention of revealing his thoughts.
In fact, even if he had told Hughes his thoughts, the other party wouldn't have believed him.
After all, affected by the Great Depression, the New York stock market was in a slump. The bodies of the securities managers who suffered the most had long since piled up outside the securities company buildings.
Most of the investors and businessmen who survived had already been scared out of their wits by the collapsed stock market of the Great Depression, and the severely declining stock prices had made them lose confidence in the market.
Nowadays, the only active participants in the New York stock market were either ambitious speculators or downright madmen.
As for the fools, they had already jumped off the buildings the moment the Great Depression occurred.
"I know a guy."
Taking a puff of the cigar in his hand, Hughes glanced at Colin in front of him.
He could sense that the other party was not telling him the truth, but so what.
Hughes was not someone who cared much about what others thought; he only cared about what he cared about.
For example, movies, women, airplanes, and now, the ocean had been added to the list.
"Luo Stone. He used to work for me on the Hughes Tool Company equity acquisition case, and he didn't become a homeless person during the Great Depression, so he should be a decent securities manager."
...
The popularity of the radio drama "The Adventures of Superman" was quickly reflected in The Messenger Newspaper the next day.
According to the newsboy Jimmy, the sales of this issue of the newspaper were much faster than any previous one.
Some readers who wouldn't normally buy The Messenger Newspaper would also ask him about the newspaper, and when they heard that it was the same newspaper that serialized "Superman," they immediately paid to buy it.
Clearly, the final advertisement for "The Adventures of Superman" had paid off.
Meanwhile, after sensing the success of the radio drama, CBS also made quick adjustments.
CBS not only moved the broadcast time slot for "The Adventures of Superman" to prime time, but also announced later via radio that they would be re-broadcasting "The Adventures of Superman" every Monday night at 11 PM.
For a radio drama to be scheduled for a rerun after only one episode had aired was quite rare.
In fact, it was the first time in the short history of radio dramas.
This showed how popular "The Adventures of Superman" was with its listeners.
While the Superman radio drama was in full swing, Colin had already shifted his attention elsewhere.
...
"Hello, Mr. Colin Roper."
On Wall Street, in front of the New York Stock Exchange, Colin met the decent securities manager that Hughes had mentioned.
Luo Stone was a middle-aged man who looked quite professional, dressed in a sharp suit. His thinning hair seemed to be a testament to his battles in the stock market.
However, under his "Super Vision," Colin could clearly see the impoverished reality beneath the man's polished exterior.
Although he had tried his best to preserve his suit, the wear on the cuffs still clearly revealed his financial struggles, indicating that this suit was likely the only presentable clothing he owned.
This was a common sight during the Great Depression, where countless unemployed men lost everything – their cars, their homes – and were left with only their suits to maintain a semblance of dignity in society. Once they lost even their clothes, the only path left was that of a homeless person.
Although Luo Stone's situation was difficult, he at least still had a job. Even though the role of a securities manager was not a great profession in an increasingly bleak stock market, he could at least use it to feed himself and his family.
Instead of becoming corpses in front of the securities company or residents of a 'Hooverville' like some of his colleagues.
"Hello, Mr. Luo Stone."
Withdrawing his gaze, Colin extended his hand to shake Luo Stone's.
"Mr. Howard Hughes has informed me of your purpose."
Unaware that his financial struggles had been exposed, Luo Stone made an effort to project a professional demeanor as a securities manager.
"Currently, the market trend is not optimistic. It has been in a slump since the Great Depression, but there are still a few stocks that are maintaining good momentum and are not affected by the broader market, such as precious metals..."
In the midst of the Great Depression and economic downturn, Luo Stone's client base had shrunk by more than ninety percent.
Therefore, he was desperately in need of new clients; otherwise, given his current work situation, he wouldn't last much longer before becoming one of the homeless masses.
Of course, he could also follow the tradition of his predecessors and jump from a high-rise building.
However, due to the prevailing suicide trend, most front desk receptionists at high-rise hotels in New York now offer reminders to guests to ensure their purpose is not to jump off the building.
At the same time, Luo Stone had his family and children to take care of, and he was unwilling to make such a selfish decision.
Of course, the most important reason was that Luo Stone's faith did not allow him to commit suicide.
Although many of his former colleagues who shared the same faith had ultimately betrayed this principle, Luo Stone at least would not allow himself to do so.
"If you, Mr. Colin Roper, intend to participate in the stock market, I suggest investing in precious metals, especially safe-haven assets like gold. While they may not guarantee significant profits, they will at least minimize your losses."
The long-term downward trend of the stock market had extinguished the confidence of market participants like Luo Stone.
Numerous experts, in radio analyses, had consistently given weak outlooks for the New York Stock Exchange, and no one could predict when the overall market would recover.
Colin, however, had some insight into this.
The stock market crash of the Great Depression took a full twenty-five years, only recovering to its pre-Depression highs in 1954.
From any perspective, this was a considerable amount of time.
And Luo Stone, or rather, most investors at this time, clearly did not know this.
"What is the current trading volume for oil company stocks?"