Chapter 1091: This is the Evidence
After Feng Yu's map cannon was released, the stock of NASDAQ fell faster, and many people were checking which blue chip company Feng Yu said was doing fake accounts. Pen? Interesting? Pavilion wWw. biquge。 info
At this time, the executives of Enron began to panic, others didn't know which company Feng Yu was talking about, but they knew it clearly.
At this time, these executives speculated a lot of their company's stocks through the company's internal information, so as to make crazy profits. Even some executives do not hesitate to borrow money to speculate in stocks, because it is so easy to make money.
Enron's chief financial officer also secretly set up an investment company with a friend, and used the hundreds of millions of dollars raised to speculate on Enron's stock.
Investors who unwittingly bought Enron shares will have to pay for these mistakes.
At this time, they were still glad that the matter of Enron Company would not be discovered, so many people did not find out, how could Feng Yu find out?
They are Enron, but they have been voted the most innovative company by Fortune magazine for several consecutive years, and this year they were named one of the 100 Best Employers in the United States.
Under these beautiful exterior packaging, who can know that our company has financial problems? "Fortune" magazine doesn't know, how does Feng Yu know?
He's not talking about us, maybe it's Microsoft. After all, Feng Yu is a former director and shareholder of Microsoft, if it weren't for Feng Yu's discovery of Microsoft's financial fraud, why would he have been kicked out of the board?
Well, that's definitely the case!
……
The reporters couldn't interview Feng Yu, so Jack had an idea and called again to make an appointment, wanting to get an exclusive interview, even if it was just a phone interview.
To his surprise, Feng Yu actually agreed!
The TV station immediately began to publicize the incident, and said that after the interview, the recording of the interview would be broadcast immediately. At the same time, he began to sell reprint rights with major media to make a profit.
"Hello Mr. Feng, I'm Jack, remember me?"
"Of course, it wasn't long since the last interview?" Feng Yu said with a smile.
"It's a privilege to be remembered by one of the world's richest people and one of the most talented investors. Mr. Feng, in today's interview, I mainly want to ask, is it right that you said last time that there were companies in the blue chips that committed financial fraud? ”
Jack was shouting inwardly, answer yes, answer quickly.
"That's right."
Jack held back the excitement in his heart and continued to ask, "Then may I ask, which company is it?" ”
"Of course you can, it's Enron." Feng Yu replied.
He had ordered someone to short sell Enron's stock, and now Enron's stock was falling, which was in his interest. Moreover, Enron's stock price plummeted, which will cause investors to distrust the entire United States stock market. This problem has occurred in blue chip stocks, not to mention other companies.
Once a crisis of confidence occurs, it is not so easy to settle.
The senior executives of the TV station on the other end of the phone were dumbfounded, which company? Enron? How is this possible!
Enron's executives also declared yesterday that Enron's stock price will double and will bring huge returns to investors, why does Feng Yu say today that Enron is the company that cheats financially?
"Mr. Feng, do you have any evidence for saying that?" Jack's voice trembled a little.
"Do any of you understand finances? So do you know Benford's law? That is to say, from a bunch of real-life data, the probability of the occurrence of numbers starting with 1 is about 30 percent, the probability of numbers starting with 2 is about 17.6 percent, and the probability of appearing with numbers starting with 3 is about 12.5 percent...... The financial data released by Enron obviously does not conform to this law, so their financial data must be falsified! ”
Jack and the executives of the other TV stations looked at each other, confused. What is Feng talking about? Benford's Law? What is the problem of probability, they don't know at all.
The director of the station was still wise, and immediately called someone to call the chief financial officer of the TV station and asked him to explain what Benford's law was and whether it was reliable. But don't let them report it, but it becomes a joke, and then you will have to bear the wrath of Enron!
"Okay, I still have something to do, let's end this interview."
After Feng Yu hung up the phone, the leaders of the TV station all surrounded the CFO, and the CFO nodded, of course he had heard of this Ben Fute law, but this didn't seem to be evidence, right?
So they consulted some professional financial personnel and audit companies, and learned that Benford's law, which has not yet been widely adopted, is indeed an effective auditing method. If the data is modified, there is a high chance that it will be detected.
After the interview, it will be broadcast live, how can the TV station do this, that is just talk. While contacting other media outlets to sell the rights to broadcast and reprint, they were preparing how to make a program around this phone recording next.
Of course, if you insert some more ads during the period, you can earn more.
……
"Feng Yu said that Enron Company is the company that he called financial fraud!"
"Enron's financial fraud, Feng Yu said there is evidence!"
"Enron's finances don't comply with Benford's law, and that's the proof!"
……
Feng Yu once again occupied the front pages of many newspapers, and his telephone recording interview was once again broadcast by many media outlets, so that more people knew.
Some people believe it, but many more still don't believe it. Even many people don't know about this so-called Benford's law, is there really a probability problem with this data?
It's just that Feng Yu said, of course, it is not enough to convince the public, after all, Feng Yu is not a professional financial person. But Feng Yu also invited two famous professors from Harvard Business School in the United States to give a written statement to prove that Enron's financial statements did not comply with Benford's law and must have been falsified!
After the articles of these two professors were published, they were quickly reprinted by many media, and the two of them vouched for their own personalities and God that what they said was true, Enron Company was indeed a financial fraud!
This caused an uproar.
Enron's stock, which is a blue-chip stock, began to fall in an instant, and all investors began to sell Enron's stock, including Enron's executives.
They know too well the authenticity of this news, and once it is investigated, then the facts will definitely not be able to cover up.
And the same panic is Citibank, ********, etc., they have frequent financial dealings with Enron, Enron's financial problems, are they really not clear?
……
The cold is too uncomfortable, the whole person is tired, and he is still sleepy~~ (To be continued.) )