Benny Jay: Alibaba Man

September 23rd, 2014

I think it might have been my friend, Jeanne, who told me about Alibaba. This was a few months back.

She’d heard about it on NPR. Where else?

It was, she said, the Chinese equivalent of eBay. And here’s the thing…

“It’s going public!” she said.

And that means — I can buy some shares!

Something you should know about me…

On the outside, I’m a mild-mannered blogger.

On the inside, I’m a fucking barracuda. Just call me Benny Jay — the Wolf of Chicago.

That’s based on the filthy rich guy in The Wolf of Wall Street, who burns his way through millions and winds up serving time.

I’m just like that guy. Only without the cocaine addiction. And the chicks. And the yacht. And the millions. Also, I didn’t serve time.

So, really, I’m not like that guy at all. Still…

jackma

The great Jack Ma…

 

I’m always looking to get on on the ground floor of the next big thing. Only by the time I get there it’s not big. It’s just a thing.

Anyway, I start surfing the Internet.

Turns out Alibaba was formed by Jack Ma. Born in 1965, and he’s already one of the world’s richest men.  Apparently, his philosophy is that great fortunes are made by people who see opportunities that others don’t.

Oh, I like that. I keep surfing…

Jack Ma’s a freaking carnivore when it comes to expanding his empire. The dude never sleeps. That’s good. You can make a lot of money with a guy who never sleeps.

I call Birdy, my financial advisor…

“Let’s get in on the ground floor of Alibaba!” I tell him.

Something you should know about Birdy. His main job is to keep me from doing stupid things with my money.

Like buying Alibaba at its initial offering.

wolfofwallstreetparty

I’m just like that guy in Wolf of Wall Street — not really…

 

 

“What’s its current share price?” I ask.

“Hold on,” he says. “92…”

“What it open at?”

“68…”

“Damn, I could have made 2400 on 100 shares…”

“Take it easy, Wolf…”

“What’s it at now?”

“95…”

“I could have made 300 in the last two minutes!”

“C’mon, Wolf, you know how these IPOs go…”

“Where’s it at now?”

“98…”

“Shit, man, that’s another 300.”

“Hold it — it’s down to 95.”

“Already?”

“Wait — now it’s at 91.”

Wow! In the course of a 15-minute phone call it went up 6 and down 7.

“Wait till Monday,” Birdy tells me. “Then see how the world looks.”

Wise man, that Birdy.

On Monday, I check Alibaba. It’s down to 87.

Sometimes the wisest thing you can do is doing nothing at all.

Just call me — the Wolf…

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