The Nasdaq fluctuated, entering a bear market with significant volatility.

It was the end of May.

The stock price of Yanwenzi Group was dragged down by the broader market, falling 22% from its high point in early March.

Fortunately, there were relatively few circulating shares of Yanwenzi Group on the market, and other companies with even larger declines provided a contrast. Shareholders were merely complaining; the market environment was such that they couldn't pin the blame on Su Yehao.

Compared to the IPO price in April of last year,

Yanwenzi Group's stock price was still up by as much as 320%, so those who invested early were still in profit.

Although the bubble had burst, investors could still run if they were willing to take a loss, and many retail investors who shorted the stock also made money.

The stock markets in Europe and America have a long history, and investors are relatively mature. Because Su Yehao used "idle funds" to short the market, it actually drew a lot of praise, with people considering him to be a qualified major shareholder, who was both prepared for the future and frugal, leaving sufficient cash reserves for Yanwenzi Group.

Now that the market has entered a winter, holding a large amount of cash seems especially important.

The stock price of Amazon in the e-commerce sector has almost halved, and Yahoo, which reported a loss of $90 million in the first quarter, has also fallen by more than 35%.

Everyone was comparing how miserable they were.

Yanwenzi Group, with a total decline of 22%, was actually considered one of the better performers.

In recent days,

The private equity funds that Su Yehao purchased began contacting him one after another, as if they had agreed to do so, notifying him that they would be liquidated early.

As a major client, he was the first to receive the news.

According to a private equity manager at Fidelity Investments in the U.S., it seemed that the bulls in the market were gathering strength, and Wall Street was worried that the market would see a wave of rebound.

Many financial companies began to promote the view of "panic overselling," and countless fund companies also gave "buy" or "increase holdings" recommendations for major Internet companies.

After the Nasdaq fell below 3,000 points, it had fallen 40% from its high point.

The direction of the wind seemed to have changed overnight.

Su Yehao sensed something was wrong and immediately sold off his short options and redeemed his triple short fund before anyone else could react.

He contacted Vice President Zheng Yongwen to discuss whether they should change direction and sharpen their knives against the bears, laying out some long positions in advance.

Zheng Yongwen said bluntly that the risk was too great, and Su Yehao also felt that it wasn't stable enough, so he decided to continue to wait and see for the time being.

Not counting the more than $2 billion in profits he had previously made by shorting with leverage, he made another $600 million or so in May. Although it couldn't compare to the carnival in March and April, it was enough to make him extremely satisfied.

While dealing with these matters, Su Yehao was vacationing in Morocco.

He was staying with Nong Qingying, who was more than three months pregnant, at the Aman resort hotel near the ancient city of Marrakesh. The hotel was surrounded by palm trees and olive trees, and enclosed by pale pink walls, full of exotic flair.

They had just finished strolling through the open-air market next door after dinner.

At the moment, Su Yehao and Nong Qingying were soaking in a warm bath, and he told her in a lazy tone:

"Do you know that the name of this city, when translated, means 'God's Domain'? Marrakesh has a history of thousands of years, so it's no wonder Europeans like to come here for vacation. The scenery really has a unique flavor."

Rolling her eyes, Nong Qingying replied, "Yes, the smell of sweat. This season is completely unsuitable for traveling to Africa. It's too hot. We really should have gone to Phuket or Bali."

"You're the boss now. After we go back, you can only say it was fun, or how will you attract tourists?"

"Of course, I'm not stupid. By the way, this hotel's positioning is really unique, specializing in picking the most beautiful attractions around the world, right?"

Nong Qingying asked.

Su Yehao was soaking in the pool, nodding and saying:

"That's right. Isn't this gift romantic? Keep throwing money at expansion in the future, and then you can inspect the hotels under your name and enjoy the scenery around the world. While making money from operating the hotels, the real estate itself can also appreciate in value. When the time comes, let Honghao Tourism help you find customers, and business shouldn't be bad."

Since this girl became pregnant, Su Yehao hadn't shown much of anything.

Therefore, he took action a few days ago, sending someone to communicate with the major shareholders of the Aman resort hotel, and used $10 million to acquire the entire company as a gift for Nong Qingying.

This chain resort brand currently has one hotel in Phuket, Thailand, and three in Bali.

It also operates small resorts in a ski resort in France, Moyo Island in Indonesia, Pamalican Island in the Philippines, and the Rocky Mountains of Wyoming in the United States, all located in secluded and scenic places.

Although they are called hotels, Aman's small resorts generally only have twenty or thirty rooms.

Some of the buildings are even rented, redecorated and put into operation directly. Both the assets and performance seem very ordinary, and they haven't yet achieved scale.

Its price positioning even exceeds that of Hilton or Four Seasons hotels, costing an average of several hundred dollars a night, which limits its own development, only providing services to high-end niche groups.

Su Yehao's valuation of $10 million was already a premium.

This company has been burning money on expansion for years and has been losing money for the past five years. Aside from its extremely high status, it's hard to find any advantages.

It was precisely because of its high status that Su Yehao made the acquisition.

Rather than saying he was giving her a chain of hotels, it was more like he was giving her the scenery around the hotels, which could indeed be called romantic.

After hearing this, Nong Qingying smiled and said, "If we really rely on you to help attract customers, we've been here for two days and have only encountered four guests in total. How long will it take to turn a profit at this rate?"

"What's the rush? At worst, we'll keep burning money and find more scenic places to continue building resorts, advertising on the Internet while we build. When the brand really takes off, customers who like atmosphere will come to our door. There's so much pressure in the cities, many rich people aren't afraid to spend money, they just want a beautiful place to rest quietly."

Seeing her get up, Su Yehao immediately helped her, so she wouldn't slip and fall.

Nong Qingying clearly enjoyed this kind of treatment, knowing she was benefiting from the baby. At this moment, she wiped her body and asked:

"I had a blood draw at the prenatal checkup last week. Did you ask if it's a boy or a girl? The doctor clearly already knew. I told her not to tell me for the time being, but now that I think about it, it would be good to know in advance. I could change the color of the baby's room walls and ventilate it for a while."

"I didn't ask, but in my opinion, whether it's a boy or a girl, it's all the same."

As soon as he finished speaking, Su Yehao raised his eyebrows and smiled, "It's been more than three months. Keep the movements a little smaller, and we can arrange some activities you like tonight."

"...Really?"

Nong Qingying looked in the mirror, and couldn't tell that she was already pregnant. She immediately pushed Su Yehao away, laughing and saying, "Let's forget about it. If something happens in Hong Kong, we can go directly to your family's hospital. We're unfamiliar with the place here, and I don't know how good the doctors are. It's best to be careful."

Feeling that what she said made sense, Su Yehao nodded, extinguishing that little bit of naughty thought.

After drying her hair and changing into pajamas, they found an English movie to pass the time, choosing *Star Trek: First Contact*.

Su Yehao watched with relish, while Nong Qingying just wanted to doze off.

She wasn't sleepy yet.

After pondering for a moment, she realized that some small activities might be better, and then she started to harass Su Yehao, getting handsy...