Coming to North America as an immigrant, I have entered the financial realm and had experienced ups and downs throughout my decade of operation. After my success, many began calling me the Chinese Warren Buffett, but others did not concur; they said that the Buffett style of investment is value-typed long-term investing, whereas mine was only short-term speculation, that I couldn’t possibly be the Chinese Buffett because I don’t have even a fraction of Warren Buffett’s wealth.
With my temporally setback, people have called me the Chinese Madoff. Bernie Madoff was a true fraud, in that he did not invest clients’ funds but instead directly embezzling $50 billion, and living a lavish lifestyle. In contrast, I gathered a flow of several tens of million dollars over years and invested all the funds in the clients’ best interests. Because of the economic downturn of 2008, the growth of the funds declined in comparison to the rate of withdrawals. The demo that I did meant to show that I could make the weekly 1% profit, but unfortunately it was such a failure of 100% weekly that it led to clients making a run on me afterwards. Eventually, I depleted all my funds, including personal money and my family house, which I re-mortgaged.
As I had lost all the funds in the investment market, rather than stealing $50 billion USD from clients as Madoff did, it is therefore entirely inaccurate to refer to me as the Chinese Madoff. I did not give myself the title of Chinese Warren Buffett, and the title of Chinese Madoff is something that I definitely do not want. I am neither. Currently, my failure in the face of financial market tsunami and all are victims of economy has let my clients down, and caused great loss and harm to them . From a moral and financial standpoint, I am now heavily burdened, a public company should do the same as I am doing to the public.
People have most recently compared me to Donald Trump, a business genius of unusual ability, who was able to re-rise from the lows of his life and business by taking advantage of the media power and influence. At the lowest point of Trump’s career, he learned from his failures and faced reality, penning a well-received bestseller and restarting his career. Trump always turned failure into success, and revitalized his career time and time again.
Others have said that I could be a media mogul like billionaire Rupert Murdoch, as I have displayed gift in the media and related businesses and high degree of proficiency in social and market operations, as showcased in my role in organizing the three sensational Chinese new year galas, the Overseas Chinese Wealth Summits and the 4.13 Rally in Ottawa. These events are the result of my unique way of thinking; there is no way one could make them happen with merely the power of money. Before, there were also sayings that I was like Mao Tsetung, The Chinese Greatest Leader in that we both had great ambitions and leadership qualities and strong determination to lead the Chinese people to common prosperity.
In all, I am a historical figure who has had a hand in the past of many overseas Chinese. I have made immense contributions for overseas Chinese and the Canadian economy, and possess the talent, characteristics and ability of the world elite. In fact, I am just myself; a person with tremendous sense of responsibility but no malicious intent. I am a person to be trusted and counted on. Currently, I am writing the next chapter in the history of overseas Chinese. Facing a strange and hostile society and various obstacles, I will miraculously prove victorious, recouping the losses of investors through my unique market ability, and continue want to become one of the wealthiest in the world regardless of current trouble.
Madoff’s Business is a Ponzi Scheme, Tang’s Business is New Financial Investments
A fraudulent business needs registration, and registration makes the fraud easy to run.
Bernie Madoff is a former chairman of NASDAQ, and a dear friend of SEC Chairman Cox. By registering his hedge funds with the SEC, Madoff was able to run his fraud under the cover of SEC supervision and monitoring, which turned out to be ineffective and useless in the end. A good example of this point is that Madoff personally knows everyone in the SEC. His was a perfect Ponzi scheme because his sole purpose was to steal client’s money for his own possession and extravagance. Without making investments or normal business operations in the market, he maintained the scheme by giving funds from new clients to old clients. Such a fraudulent approach is only taken by those who do not know how to make money from the market, or who do not have the ability to do so, or those who have a malicious intent to deceive.
In fact, the Ponzi practice is not uncommon in financial institutions, where funds from new clients are used to cover the withdrawals of old clients, especially so in the field of state pension, retirement pension, insurance and banking, including the US central banks. However, it is considered a normal strategy and widely accepted by the public and the market because their purpose is not to occupy funds for their own possession. Those allegations of fraud on me are only due to the contempt and bias of the OSC and the mainstream media against me and the Chinese.
The financial storm of 2008 had devastating effect on all financial institutions and Ponzi schemes around the globe, particularly in the United States, where banks and insurance companies went bankrupt one after another and investors lost trillions of dollars. The financial storm evaporated tremendous wealth that generations of investors had accumulated; meanwhile, it put an end to the Ponzi scheme era in America. As a seasoned investor, protector of investors’ wealth and the most responsible fund manager of the world, I was able to keep my losses minimum in the tough market situation. Compared with the huge losses that other financial institutions, fund companies, banks and individuals had suffered, mine was just insignificant. Of the total $60 million funds that I had financed over the years, I lost about $15 million, or 25% of the total, a much better performance compared with that of many other fund managers, a much sophisticated system and top fund manager in the world .
As the Oversea Chinese Fund was operated on a non-disclosure basis, I will take full responsibility for all the losses and never needed to conceal anything. Despite the economic downturn of 2008, I was still able to pool together $30 million in funds, which I used to cover the panic withdrawals of clients. I managed to avoid any significant loss while collecting such a huge sum, which is nothing short of a great achievement indeed.
Unfortunately, it was still insufficient to fulfill my promises and meet clients’ expectations. Not only were they unsatisfied with the avoidance of losses, the clients were enraged by the lack of profit. I wish they had more relevant business knowledge to understand the business process.
Under a set of circumstances different from the economic tsunami of 2008, I would have pooled together billions of dollars, successfully gaining the consistent returns from a market maker’s status. Considering my unique way of thinking, market maker’s philosophy, advanced market skills, my weekly 1% theory and practice, as well as my extensive experience, I shouldn’t be barred for one mistake and denied another chance, it is not public interest to do so . The Weizhen Tang investment strategy has a solid theoretical base, extensive market experience and outstanding transaction records. From more than a decade of my market dealings, which involved stocks, bonds, futures, options, and foreign exchange etc., I have made great contributions to the Canadian economy and to the financial industry. Over the years, I paid tens of millions of dollars in trading commissions or service fee to financial institutions and brokerages, which contributed greatly to the economy and job market of Canada. From my experience and insight, I knew that the Weizhen Tang investment had reached the top of the finance and at a historic turning point – it was right on its way to consistent 1% weekly returns and a more reinforced market dealer’s position.
If Weizhen Tang run a Ponzi schem , though it look like if you are not knowledgeable, but it is not. Once a Ponzi scheme is discovered, it is put to an immediate end, without any possible excuse or chance of staging a comeback. What has happened to me was nothing but setback and temporally failure in business dealings. I ought to have a chance to learn my lessons and try again in the same way as Donald Trump did. Since the beginning of my career in financial business, I have never had the intention of cheating my clients, but have always put their interests at the foremost and been dedicated to creating profits for them. Today, I can’t just fall with these allegations of a Ponzi scheme. I must speak in defence of myself because it is my responsibility to recoup the millions of dollars for my investors. Some of the losses of my clients are normal market losses, but the majority are unrealized profits that I have promised to them. Few clients have suffered real total losses, and all of their losses can be recouped easily. As a hybrid of idealistic and realistic views, I hold myself to very high standards and have strong determination to satisfy every single one of my investors, and thus, have burdened myself with heavy obligations. On the surface, 90% of my clients have no business savvy or legal knowledge about fraudulent behaviours. They firmly believe that I had carried out a Ponzi scheme. Thus, investors, the media, the OSC, police and lawyers all started to think in one wrong direction.
Their erroneous thinking and opinion has created enormous difficulty for my business and caused extreme disappointment and even desperation to my investors, it hurts. In fact, what I’m running is a legitimate business without any intentions of deception. However, when an outsider with no personal interest or expertise in the cause interferes with my investing and business, it is extremely detrimental to the normal operation of my business. Unless there is a real Ponzi scheme going on, the interference of the government will only make things worse bring further damage to the investors.
Among the 200 frustrated clients of mine, if any one of them loses his rationality, all may have to suffer complete losses. Some individuals hate me, but they have instead hurt everyone else and their interests. The OSC can provide no real help for any of my clients. It has not done so in the past and will continue to not do so. It is only a registration body and investigative organization, but not one that can assist investors. The OSC, acting on the ill words of a few individuals, recklessly froze the Oversea Chinese Fund. It did not take into account the opinions and interests of 200 investors, and interfered based on the requests of only a few individuals.
I am neither the Chinese Buffett, nor the Chinese Madoff. Currently, I am most probably a Chinese Donald Trump.
Being called the “Chinese Buffett” is the utmost honour, while the “Chinese Madoff” is the worst slander. Just as Donald Trump shook free from $9 billion in debt to rise to prominence again, I might be able to replicate his success. Aside from my vast experience in the financial industry, I have already penned my own book and produced numerous text and video publicity materials. I am an accomplished speaker and organizer of social events with extensive power of influence. My advanced philosophies and skilled media handlings are the most effective weapons in the revitalization of my career. To become one of the wealthiest in the world, one must have good fame. As I am already very close to the famous figures of the world, and possesses excellent investment capabilities, how far am I from becoming the wealthiest person in the world?
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