Fast Money's Trader Icons

http://www.cnbc.com/id/37510862?slide=1

Fast Money's Trader Icons


Who doesn't dream of greatness - swinging like Babe Ruth or punching like Muhammad Ali? But those guys are sports stars.
If you're like us, your heroes are the legendary all-star investors, the heavy hitters who knocked the cover off the ball time and again with their winning trades.
Following are the Fast Money icons - some of the greatest traders of all time.

By Lee Brodie

Posted 8 June 2010

Jesse Livermore


Position: Trader

Claim To Fame: Shorted Crash of 1929



Nicknamed "Boy Plunger" Jesse Livermore is among the very few investors who profited handsomely from both the Panic of 1907 and the Great Crash of 1929 largely due to short positions that generated as much as $100 million.

His philosophy of trading is still widely citied, 'increase the size of your position if they're moving in your favor and cut losses quickly.' Livermore died in 1940 at the age of 67.

George Soros


Position: Chairman, Soros Fund Management

Claim To Fame: Made $1 billion from UK Currency Crisis

Born Aug 12, 1930 in Budapest, Soros grew up in the shadows of Nazi Germany. He didn’t make a splash as a trader, however, until 1992 when he made $1 billion in a single day by betting against the British pound.

Sometimes called, "The Man Who Broke The Bank Of England" Soros currently runs a hedge fund and funds philanthropic causes.

Paul Tudor Jones


Position: President & Founder, Tudor Investment Corporation

Claim To Fame: Predicted 1987 Black Monday

A one time broker for EF Hutton, Paul Tudor Jones is known for predicting the 1987 stock market crash and doubling his clients’ money in the process. As of 2009 he was worth an estimated $6.3 billion.

Jones also founded the Robin Hood Foundation, a charity committed to the fight against poverty in New York City.

James "Jim" Simons


Position: Founder, Renaissance Technologies

Claim To Fame: Founding Father of Quant Trading

A former mathematician, code-breaker and poker player, Renaissance Technologies founder Jim Simons is a pioneer of quantitative trading. He was among the very first to harness complex mathematical models to analyze and execute trades.

His hedge fund has returned more than 30 percent annually for the last 20 years. In January 2010 Simons retired from his firm and became President of Euclidean Capital.

Nicolas Darvas


Postion: Self Taught Investor

Claim to Fame: Developed BOX Theory of Stock Picking

A self taught investor and famous dancer (he toured with Judy Garland and Bob Hope), Darvas made a name for himself on Wall Street in the late 1950’s by implementing a series of trades that transformed $10,000 into $2 million over a period of only 18 months.

He attributed his profits to something called BOX theory, a mix of technical and fundamental analysis that’s still widely used today.

John Paulson


Position: President, Paulson & Co.

Claim To Fame: Shorted Housing Ahead Of The Real Estate Bubble

Considered to have executed “The Greatest Trade Ever” Paulson made financial history in 2006 as one of the very few investors who recognized the housing market was headed for a major fall.

By betting against risky mortgages and precarious financial firms he earned more than $15 billion. This year, his name surfaced in the SEC's civil fraud suit against Goldman Sachs, although his firm was not accused of any wrongdoing.

Steve A. Cohen


Position: Founder, SAC Capital Partners

Claim To Fame: Knack For Spotting Opportunity

Called “the most powerful trader on Wall Street,” by BusinessWeek, Cohen is also among the most reclusive. He’s famous for having an uncanny ability to make money regardless of market conditions.

According to published reports his first day on the job at Gruntal & Co., he made an $8,000 profit. As of 2009 he was worth $11.4 billion.

Ken Griffin


Position: Managing Director & CEO, Citadel Investment Group

Claim To Fame: Launched On Of The World's Largest Hedge Funds

Said to have had a penchant for investing since college, Ken Griffin began his trading career by launching two funds from his Harvard dorm room.

As the head of Citadel, one of the largest hedge funds in the world, he currently manages about $13 billion. On any given day his firm generates as much as 3% of the trading volume in New York.

Jim Rogers


Position: Co-Founder, Quantum Fund

Claim To Fame: Spotted Bull Market In Hard Assets

Co-founder of the legendary Quantum Fund with George Soros, Rogers is celebrated for his prowess in trading commodities; an ability that helped the Quantum Fund return 4200% in its first 10 years.

Author of Hot Commodities: How Anyone Can Invest Profitably in the World's Best Market Rogers may have started his love affair with ‘real things’ as a boy, selling peanuts at baseball games.

John D. Arnold


Position: Founder, Centaurus Advisiors

Claim To Fame: Among World’s Best Energy Traders

With a net worth of $2.7 billion, the 30-something Arnold is said to be among the youngest billionaires in America. His prowess for energy trading generated $750 million for Enron in 2001.

But he’s best known for taking the other side of Amaranth Advisors' bad natural gas bet; he reportedly made as much as $2 billion personally from his winning short position.

Ray Dalio


Position: Founder, Bridgewater Associates Holdings

Claim To Fame: ‘Fundamental Principles’ Needed For Financial Success

With approximately $43 billion in assets in 2009, Ray Dalio runs Bridgewater Associates, the second largest hedge fund in the world. Students of business often study his ‘fundamental principles’ a kind of philosophy which Dalio says is the foundation for his great success.

The entire list is available to the public free of charge on Bridgewater's website . (Dalio declined to give us a photo.)

The Start of the Exciting Life 惊涛拍岸直挂云帆

       Still motivated by the wonderful experience at London Business School, I started a more exicting life back in Hong Kong.  This the one of the most important turning points of my life.  I know I might experience barriers and challenges, but I am sure I will ride a passionate journey that leads to success.

      Two big things happened last week.  I stopped working with Artis Capital and the internal war of Gome.  The work experience at Artis helped reexamine the true meaning of value investing and pushed me to go deeper into valuation and investment decision making.  From now on, I will build a solid model for each company I am investing and make very thorough and structured valuation.  The war at Gome helped me think about how to build a business empire and how to manage it.  This event is a great catestrophe investment chance, and I will study the business and the value behind the business.  I will also forecast the prospects of the business. 

http://www.gurufocus.com/news.php?id=54052

May. 01, 2009
 
Ben Graham’s net-net strategy worked well for him, would it still work today? GuruFocus users created a number of net-net portfolios. The net-net portfolios created 5 months ago have gained more than 50% in this rocky market. Thank you, Ben!
In his book “The Intelligent Investor”, Ben Graham, the father of value investing, found that one strategy that worked well for him was to buy companies that are sold at below its net current asset value. He called those bargains.

He wrote:

“The idea here was to acquire as many issues as possible at a cost for each of less than their book value in terms of net-cirrent-assets alone – i.e., giving no value to the plant account and other assets. Our purchases were made typically at two-thirds or less of such stripped-down asset value. In most years we carried a wide diversification here – at least 100 different issues.”

Modern value investors rarely have had the opportunities to invest in these “bargains”, until very recently, the market is at its lowest valuation in decades. Inspired by our users, GuruFocus developed a “Graham Net Current Asset Value Screener”, to find these companies:

The stock prices are less than the net current asset value of the companies – Benjamin Graham

During the past 12 months, the companies generated positive operating cashflow.

The company has no meaningful debt compared to its cash position.

As requested by users, now you can also see the companies had negative operating cashflow over the past 12 months.

GuruFocus users have created portfolios based on of Ben Graham Net Current Asset Value Screener. How have these portfolios performed? Does Ben Graham strategy still work? This is a review of the recent performances of Ben Graham Net Current Asset Value Bargains.

In order to test this screener, GuruFocus created a net-net portfolio on Nov. 24, 2008 with the top Ben Graham bargains . Since then the market recovered a bit, S&P500 grew from 851 to its Thursday close of 872, or 1%. Small caps, which most of these bargains are, did similar. The Russell Micro Cap index grew 1.07%. How did the Ben Graham bargains do?

This is the list of Ben Graham bargain portfolio GuruFocus created on Nov. 24, 2008.

Symbol      Buy Price ($)     Close PRICE        Gain/Loss

ACTS        1.43                  1.74                      21.68%

ATV          1.29                  3.24                      151.16%

AVNX*     0.87                 3.06                       252%

DRAM      1.2                    1.32                       10%

GSIG        1                        1.13                       13%

LTON       0.73                  1.46                        100%

MTSN      1.32                  1.15                         -12.88%

NCST       0.63                  0.3899                     -38.11%

RACK      3.87                  4.56                         17.83%

SOAP       2.15                  3.7                           72.09%

TSPT        5.45                  2.9                            -46.79%

VPF          1.4                    1.28                          -8.57%

VVTV       0.51                  0.72                          41.18%

*Acquired at $3.06/share.

This portfolio generated an astonishing gain of about 51% in about 5 months. One of the companies, Avanex was acquired at $3.06 a share. When we added it into the list, it was sold at 87c a share, far below its cash value even as the company generates positive cash flow. None of the companies in the list went bankrupt or delisted.

In the meantime, a few other users also generated their portfolios using Benjamin Graham Net Current Asset Value Screener. The summary of the performances is below:

User Portfolio Created on Net-Net Portfolio Gain S&P500 Russell Microcap Link

taurusco12/18/2008 14.5% -5.19% -4.45% Go to Portfolio

gurufocus 12/25/2008 25.7% -1.49% -0.64% Go to Portfolio

cavallino20012/27/2008 19% -0.87% -1.69% Go to Portfolio

anthonyvigneron1/1/2009 43% -5.05% -7% Go to Portfolio

All these portfolios delivered great returns even as the market declined. The investment strategy Ben Graham found more than half a century ago finds its opportunities again today!

Please remember, as written by Ben Graham, you need to buy a basket of these stocks to reduce risk, as some of the company may go under as situations worsen. Also does buy & hold work for this portfolio? Maybe not.

If you like to see the current list of Ben Graham bargains, go to: Benjamin Graham Net Current Asset Value Screener. This is for Premium Members only. If you are not a Premium Member, you are invited to Take a 7-day Free Trial of GuruFocus Premium Membership.

Gold – a hedge against uncertainty --- Why gold prices can continue to rise despite increasing supply and falling interest rates.

http://www.financeasia.com/News/221116,gold-8211-a-hedge-against-uncertainty.aspx?refresh=on

By Jonathan Spall, Barclays Capital

28 July 2010

Keywords: gold
investment
inflation
commodities
barclays capital
 
Analysis of a commodity is a reasonably straightforward matter. Production is reviewed to see what changes have taken place, similarly with consumption. An adjustment is then made for global economic conditions and whether there is likely to be a shortfall/surplus in demand or supply compared with previous years. On that basis a forecast is delivered. A currency differs in that interest rates are taken into account and consideration of governmental policy is thrown into the mix. This is clearly a gross simplification of the process otherwise we could expect all estimates to be 100% correct -- something that is rarely, if ever, achieved.




However, what do you do about a product that is a hybrid of the two? Where some investors focus on its commodity aspects and others on its currency features. That is the problem with gold. Roughly some 2,450 tonnes of the metal is produced each year but since gold is not destroyed in the "consumption" process all that really happens is that the stocks of the metal are being added to each year.



A generally accepted estimate is that there are now some 165,000 tonnes of gold that have been mined in the history of the world. Some of that is in museums, some held as "sentimental" jewellery that will never be sold, 30,000 tonnes still sits with central banks but much of it is being hoarded in bars, coins and "investment" jewellery. So if supply and demand are the key determinants then it is obvious that gold should simply fall each and every year as global stocks increase.



Similarly, a key driver of currencies is often cited as interest rates: the greater the yield, the more attractive that currency becomes to investors and hence its exchange rate will tend to rise. So what about a "currency" that has no yield for the majority of investors? True it can become attractive if nothing else produces a return but that simply puts it in a category along with everything else -- indistinguishable from the general morass.



What then of an investment that has increased five-fold in value over the past 10 years despite global stocks increasing from 140,000 tonnes to 165,000 tonnes and where six month interest rates have collapsed from 2% to 2 basis points over the same period? Clearly neither the currency nor the commodity component are in the ascendency yet equally obviously a major change has taken place to account for this seemingly nonsensical contradiction.



While there are a number of theories looking to account for this, my view is altogether more straightforward and encapsulated in the accompanying chart which I have dubbed the "trust gap".





For a larger view of the chart, please click on the image.





In this chart, both gold and the US consumer price index (CPI) have been indexed to 100 and set back to 1975. The notion being to see the relative performance of gold against what is often trumpeted as one of its main attributes: that of a hedge against inflation. As can be seen in the late 1970s and early 1980s gold moved ahead of inflation. This was a period when the world had been subjected to a series of oil price shocks, inflation was viewed as rampant and out of control, the US government was headed by President Jimmy Carter and the populace was faced with watching its citizens being held hostage in Iran.



As we moved through the 1980s inflation was seen as tamed by figures such as Paul Volcker and Alan Greenspan in the Federal Reserve and Karl Otto Poehl and Hans Tietmeyer in Germany's Bundesbank. Equally important was the notion of a strong government in these countries. Put succinctly there was trust in the ability of government and its agencies to deliver stable growth and low inflation -- the so-called "goldilocks" economy. Understandably, who needed an asset that protected against inflation, was no-one else's obligation and seen as a store of value?



However, as the dot com boom gave way to the dot com bust, as the housing bubble exploded and the credit crunch took hold, gold began to move up towards the inflationary trend before finally breaking through it on the woes of the global financial system. The picture being that gold is as far above inflation now as it was below it in the late 1990s when European central banks were selling the metal. Notably the selling has dried up as the gold price has soared and instead we have seen nations like China, Russia, India and Saudi Arabia all buy metal.



So what has changed? To me an investment that is trumpeted as being outside the financial system is irrelevant when there is trust in that system. Remove that, and in a period of uncertainty and financial stress this notion of being separate is key. So, as the world focused on expansionary monetary policies and quantitative easing (printing money) the fear was of inflation. However, with the idea starting to take hold that the world is no longer facing the threat of rapidly rising prices but of deflation, does this then negate the argument?



Gold is not a shopping list of attributes, but it has in fact one very simple attribute -- it is a hedge against financial uncertainty and dislocation. While investors remain unsure of the future and of the ability of their governments and monetary authorities to return to a time of steady growth and prices, then the attractions of gold will remain. Consequently it will continue to appeal to a widening group of investors and as such, its appeal, and price, can rise even while stocks of the metal continue to increase.



Jonathan Spall is a London-based director of commodities at Barclays Capital and the author of "Investing in Gold", which was published in 2008 by McGraw Hill.



© Haymarket Media Limited. All rights reserved.

Notes from Berkshire Hathaway Annual Shareholder Meeting

http://www.huffingtonpost.com/alan-schram/notes-from-berkshire-hath_b_559941.html

Close to 40,000 enthusiastic shareholders made the pilgrimage to Omaha this year, coming from all over the world to attend "Woodstock for capitalists".

Following are the highlights of comments made by Warren Buffett and his vice chairman Charlie Munger, covering a broad range of issues, and picking a sample from over 1,500 questions submitted to them, in a Q&A session that lasted eight hours.

The first issue to come up was the highly publicized $5 billion investment Berkshire made in Goldman Sachs. Berkshire bought its preferred stock in Goldman at the height of the crisis. That investment pays Berkshire an interest of $15 every second. So while the allegations made against Goldman harm the investment bank's reputation and employees' morale, Buffett loves the investment. He also mentioned Goldman has assisted Berkshire in building its business, starting in 1967 when they helped sell Berkshire's first bonds issuance.

Buffett gave a detailed explanation of the nature of the much discussed ABACUS transaction, for which Goldman has been sued by the SEC.

The customer was a large bank, ABN Amro, now part of RBS. They guaranteed the credit of ACA, which insured the bonds covered by said instrument, and consequently suffered a large loss. Berkshire itself often engages in similar transactions, and collects a fee for guaranteeing similar credit. Berkshire evaluates bonds and prices them, exactly as ACA did.

In this case, ABN Amro was paid $1.6 million to bear the risk on $900 million worth of bonds, which turned out to be worthless.

Buffett believes many municipal bonds insurers expanded into new business such as structured credits when the margins on their traditional muni bonds business narrowed. But they were much less familiar with the new complicated securities, with unsurprising dreadful results.

Buffett has little sympathy for the bank making dumb credit decisions. ACA has no reason to complain and no one else to blame for a bad business decision they made. Buffett does not think Goldman Sachs is responsible for the losses that ensued. Responding to a shareholder question, Buffett sees no reason to replace Goldman Sachs CEO Lloyd Blankfein. He believes the Wells notices Goldman received were not material enough and therefore did not have to be disclosed.

Outlook on US economy. Buffett and Munger were very optimistic about America's future. Berkshire sees plenty of opportunities in the US and sees no reason to shift the center of its investments to other countries.

The deficit reduction commission recently appointed by the President (former Senator Alan Simpson and erstwhile WH Chief of Staff Erskine Bowles) has few choices but to raise taxes and cut expenses. While deficit spending is not going to work for extended periods of time, the US is not at risk of defaulting because its currency is still the world's reserve currency.

Moreover, the country can handle unfunded liabilities as long as it experiences GDP growth.

Given that capitalism constantly looks for ways of doing things better and with less people, we need a social safety net. Society owes a minimum standard of living to people who are temporarily out of work.

Inflation. Risk of Inflation has significantly increased because of the policies we are pursuing, and that does not bode well for either cash or fixed income. However, Buffett notes the dollar devalued by about 95 percent since he was born, and the country still did fine. He also notes the stimulating response to the financial crisis may have been necessary, but weaning the country off the medicine of massive debt may be harder than the ailment itself.

They are generally bearish on all currencies, and believe equities are likely to give you a positive real return, and are superior to the unenticing alternatives (such as bonds and cash).

Financial Reform. Buffett and Munger believe the financial system has too much complexity and would like to see reform enacted much along the lines proposed by Paul Volcker. They believe too much in the financial world is counter-productive, and a reformed system should drastically limit what investment and commercial banks are allowed to do.

Derivatives. The usefulness of derivatives is overrated. They have some utility but have to be conducted safely, under responsible rules. Wall Street should have a socially important purpose, and not resemble a casino, where people are more concerned with valuing an option than valuing a business.

Congress is looking into imposing new retroactive regulation on derivatives (Berkshire has 250 derivative contracts, down from some 23,000 contracts ten years ago, with a notional value of 1 percent of that of some other large institutions).

Even if the bill passes, it would not impact Berkshire. Only in the unlikely event that Berkshire is found to be a threat to the system, the company would have to retroactively post collateral on contracts, which would require it to tie up capital. Inserting collateral requirements retroactively would be constitutionally dubious as it violates the sanctity of contracts, and would neither be fair nor smart, but the company can easily handle such requirement.

Succession. Always a hot issue with Berkshire shareholders, the question usually comes up. The potential successors to the position of Chief Investment Officer did well in 2009 (one of them returned 200 percent), after a difficult 2008. The list of four possible replacements has changed over the past year, which is unusual news.

Buffett and Munger believe the culture of Berkshire is self reinforcing, and will outlast the life of the founders. Berkshire is run so it can withstand any systemic shock. With over $60 billion in insurance float, Berkshire is the world's premier insurance company.

Oil. Buffett and Munger believe we will not be dependent on oil forever. The discovery of oil in the 1850's changed the world and enabled major growth. Within 150 years, humans exploited what took hundreds of millions of years for nature to create. That added tremendous value. But human ability to innovate should not be underestimated. With our emerging technologies, civilization is likely to soon no longer need to depend on limited supplies of oil to prosper, as solar power will become a cheaper and more feasible alternative.

Kraft Foods. Berkshire has a large stake in Kraft and has been vocally and publicly expressing its dissatisfaction with management's capital allocation decisions. The recent acquisition of Cadbury and the sale of their Pizza business (for what Buffett says was an effective multiple of 7 times pretax earnings) were called "dumb". He did say Kraft is selling at less the sum of its parts.

China. Buffett and Munger believe China will advance civilization. That country's potential is being unleashed in the last decade in a dramatic fashion, after hundreds of years of being held back by a deleterious system of government.

Further Investments. Berkshire is now placing large amounts of money in businesses that have lower return on capital, and regulated businesses that are capital intensive (Burlington Northern and Mid American Energy). Those limitations inevitably come with Berkshire's size.

寻找下一个华兰生物 以开放的心态挖掘成长股

http://finance.sina.com.cn/stock/stocktalk/20100426/00377822849.shtml

http://www.sina.com.cn  2010年04月26日 00:37  第一财经日报

点击查看最新行情

　　李丽

　　A股市场自2009年8月份开始又经历着“冰火两重天”的行情，大市值的蓝筹股低位盘旋不动，而中小市值股票非常活跃，创业板的推出也强化了这一市场特征。作为投资经理，我们也如很多其他投资者一样思考风格资产是否会转换，同时也对炒新热潮下的噪声交易显得很无奈。我觉得做好案头工作，透过噪声交易的迷雾寻找成长股是当务之急，即使短期估值偏高，在市场调整之后，寻找那些盈利模式好、未来数年可以实现高速成长的成长股依然是获取超额收益的重要方式之一。

　　现在的创业板和中小板的炒新行情让我回想起2004年的中小板行情，我们遇到了以华兰生物(75.80,3.30,4.55%)和苏宁电器(11.18,-0.22,-1.93%)为代表的中小板成长股经典案例。IPO上市之后，我们也面临短期静态估值偏高的困境，投资者分歧很大，一些中小板股票最终沦为伪成长股，但是真正的成长股也诞生了不少。在上一波股市从 6000点高位回调到 1600多点的过程中，中小板股票的股价也在系统性风险泥沙俱下中大跌，然而在2009年股市反弹中，我们也目睹了很多中小板成长股股价翻了好几倍，给投资者带来不菲的收益率。

　　创业板和中小企业板不但提供了很多新的盈利模式，而且为轻资产的创业型公司挖掘了一种融资渠道，并对中国中小企业的发展提供一种示范效应。轻资产扩张的创业型企业的固定资产规模小，业务不稳定，一般不容易得到银行信贷的支持，但是股票市场看重的是未来成长性，风险承受能力强，更容易给这类创业型公司以支持，实现上市公司和流通股股东双赢的格局。

　　我入行的时候是一名医药研究员，并有幸亲身经历了中小盘中一个成长股的出现——华兰生物。2004年华兰生物作为中小板第七只发行的股票，2004年刚上市时收入仅仅3.2亿元，净利润4136万元，而到2009年年报公司收入已经达到12.20亿元，净利润高达6.08亿元，华兰生物上市5年，其收入复合增长率为30%，净利润复合增长率为70%，公司从上市到2010年3月31日，股价涨幅为2908.95%，同期沪深300(3182.753,-7.25,-0.23%)指数涨幅为149.77%。

　　经历股市的每年风格变化，我越来越认为：作为一名合格的基金经理，个股研究能力和个股选择是组合管理的核心和基础，资产配置和行业配置毕竟是不能频繁操作的高难度项目；特别对于专户投资而言，个股选择的重要性更加突出。因此，一定要对所有股市新生事物都要保持开放的心态，不断增强自己的学习能力。过去大半年，我也研究了很多创业板和中小企业板IPO的材料，总结之后，觉得有些选股的标准可以跟大家分享。

　　首先，一定要分析上市公司的盈利模式。中国经济的确处于高速成长期，但是也处于经济结构不断变化的阶段，好的盈利模式可以保证一家上市公司的成长空间和盈利能力。

　　其次，观察管理团队，关注其基本素质和公司激励机制，例如，我们可以观察管理团队对行业的理解，特别是其公司发展战略和执行能力。

　　第三，分析该上市公司所选择的行业有无较好的成长空间，关注其产品或者服务是否有很大的成长性，具体而言，可以分析其产品选择、采购、生产、销售等各个环节的布局是否出色。

　　最后，关注财务分析。静态的市盈率、市销率或者市净率对于真正的成长股并不是一个约束，企业未来现金流构成企业价值的主要部分，关键是看其收入和盈利的增长的潜力、产品的成长空间、盈利模式是否有优势、超募集资金是否会谨慎使用。假如我们可以通过分析发现上市公司实现非线性高速增长，那么就会构成一个超预期的投资故事，这就是一个成长股。分析财务数据，第一要看收入成长的空间；第二要看公司的议价能力，能否保持高毛利率；第三要看清资产特征，看能否实现高净资产收益率。

　　总之，我们的目标是，始终保持开放的心态，坚持严格的选股标准，深入扎实地做好研究，寻找下一个“华兰生物”。

赌王何鸿燊的“三大战役” 中风入院新太太曝光传将过门

http://www.cnwnews.com/html/soceity/cn_shlw/20090814/136698.html

据香港《明报》报道，澳门赌王何鸿燊在港安医院留医已半个月，病情备受关注，有传他因瘀血未清，曾接受第二次脑手术。连日来三位太太蓝琼缨、陈婉珍及梁安琪与子女轮流到医院探望。

12日突然有传三太陈婉珍年前为赌王聘请的私家看护Candy成为了“五太”，三太两度回应传闻，淡然说：“我不知呢！”她更否认赌王要再做手术。“四房”女儿超盈则开腔澄清传闻说：“人家下个月结婚啦。你这样讲，她好惨！”

和拉斯维加斯“赌场之父”斗、和胞妹斗、和自己斗，何鸿燊每一次都挥戈而上、毫不留情

 

知名爱国人士何鸿燊出资6910万港元购得圆明园马首铜像，归还祖国

对澳门赌王何鸿燊来讲，2008年7月9日是峰回路转的一天。

当天，香港法院驳回了何鸿燊胞妹何婉琪为阻止澳门博彩控股有限公司上市而提出的司法复核申请。这意味着澳门博彩上市的坎坷之途已经扫清最后一个也是最大一个阻碍。

为了上市，何鸿燊已经酝酿数年，并付出了巨大的时间和精力代价。此番计划在今年终于取得突破性进展，并拟于7月10日在香港证交所正式上市，首次公开募股（IPO）融资4.94亿美元。但在大功告成之际却突生变故，其胞妹何婉琪强烈要求香港法院对澳门博彩上市事宜进行司法审查，并发出禁止令阻止该公司上市。

幸好有惊无险。也许因为心情颇佳，何鸿燊表现出了一种高姿态：把上市时间推迟到7月16日，以便于投资者能够重新估计何婉琪继续上诉可能带来的法律风险，允其撤销认购申请并获得退款。但投资者显然信心十足，撤销认购申请的人并不多。

“没有任何人能够阻击我！”88岁的何鸿燊仍然表现出了旺盛的斗志。纵观他跌荡多姿的这一生，共有过数次决定生死的“大战役”，每一次他都挥戈而上、毫不留情。

 

火拼“赌场之父”

何鸿燊在澳门的博彩王国遭遇的最近、也是最大的一次威胁，是6年前的“美军强行登陆”。

2002年，“为了引进竞争，把澳门变成一个更为吸引人的赌博与旅游中心”，澳门特区政府批出了三张赌牌，分别由何鸿燊持有的澳门博彩和银河娱乐场（澳门）股份有限公司、永利度假村（澳门）股份有限公司夺得。由此，澳门的博彩业局面由何鸿燊独霸天下变成了三国鼎立。

永利度假村的控制人是美国西岸赌王、有拉斯维加斯“赌场之父”称号的史提芬·永利。他经营赌场30年，将内华达州的沙漠摇身变成全球首屈一指的赌城拉斯维加斯；而银河娱乐场的幕后人物，则是赌城拉斯维加斯另外一位大亨谢尔登·阿德尔森。

强龙难压地头蛇？这显然是一厢情愿。虽然目前澳门博彩的市场占有率达75％左右，但证券界人士预期，随着越来越多的竞争对手出现，其市场占有率必然下跌。公司未来增长，将大部分取决于针对大众市场的赌场竞争能力是否优于同业。

危机刺痛了何鸿燊，他发动了声势浩大的反攻——先是明令葡京连续28天用免费的叉烧饭招徕顾客；其次，旅客可在关闸及港澳码头乘坐新干线的免费穿梭赌场巴士；另外，来此参观的旅客还可获赠葡京潮州酒楼、喜万年酒楼的叉烧饭，并获派20港元娱乐消费券，可在赌场试玩和参加大抽奖……

当然，这些都是雕虫小技，随着澳门博彩即将在香港证交所上市，何鸿燊对此役取得胜利徒添了几分信心与雄心。

 

和胞妹长达40年的纷争

令生性风趣的何鸿燊最不开颜的一件事，便是与其胞妹、“十姑娘”何婉琪长达数十年的“战争”。

根据澳博招股书披露，澳博涉及97宗尚待解决的劳工诉讼及十六浦发展项目纠纷。另外，还有37宗诉讼则由“十姑娘”及相关人士提出。这些“内乱”导致的官司，如乱麻般束缚着何鸿燊的手脚，让他难以腾出更多的时间和精力去对付“外患”。

何婉琪可谓用心良苦，在职期间便留心收集了很多证据。她所掌握的文件，有力地揭开了澳门博彩帝国——澳门旅游娱乐有限公司从最初成立到运作和经营的重重黑幕。何婉琪提交的材料还涉及何鸿燊的公司无视澳门政府禁止赌博业放款的规定，向罪犯和臭名昭著的犯罪团伙成员提供借款，以及公司违反章程，多年来扣留本应分配给股东的近40亿美元利润等等。

因为何婉琪曾代其兄掌管赌场近25年，自然对公司的一切了如指掌。她所发起的诉讼，都是刀刀见血、直指要害。

本是同根生，相煎何太急。为什么何婉琪对其胞兄不念一点手足之情？

没有无缘无故的恨。其实，何婉琪的仇恨，是缘自于何鸿燊长达40年对其“油煎火燎”之苦。据何婉琪的痛诉，我们可以一窥事情的端倪——

何婉琪指控其兄弟40年来以“家族丑闻”要挟，逼迫自己放弃股权，进而骗取了上亿美元资产。忍辱负重长达40年的何婉琪终于忍无可忍，最后不惜撕开脸皮进行反戈一击。

这件家族丑闻，便是何婉琪已近50岁的儿子麦舜铭的出生之秘。据事后何婉琪透露，麦舜铭的亲生父亲并不是何婉琪的亲夫麦志伟，而是他的堂叔、何婉琪的堂弟何鸿章。何鸿章是香港开埠首富何东爵士的第三代嫡系掌舵人，在家族中辈分比何鸿燊还要高。早在1941年，青春年少的何鸿章和情窦初开的何婉琪在一次家庭聚会上互相吸引并坠入爱河，但因当时遭到家族的强烈反对而作罢。

让何婉琪无比愤恨的是，作为少数几个知情人之一，其胞兄何鸿燊竟然以此为要挟，对自己进行了长达40年的控制和勒索。何婉琪宣称，1962年澳门旅游娱乐有限公司刚刚成立时，全部的创业资金皆出自于何鸿章赠予自己的35.2万港元，这一点也得到了创始股东霍英东的证实。但何鸿燊利用丑闻掌控了公司的大权，使何婉琪的持股降到可怜的7.3%，从中骗走了至少上亿美元的资产。

成王败寇。现在何鸿燊掌控的澳门旅游娱乐有限公司旗下的赌场，每年的投注高达1300亿港元，相当于澳门本地生产总值的6倍，每年上交给政府的赌税超过40亿港元，占澳门总财政收入的50%以上，另外有30%左右的澳门人直接或间接受雇或受益于何鸿燊的公司。政府自然担心何氏家族纷争带来巨大的负面影响，在当下关键时刻损害澳门经济，损伤政府在赌博市场自由化方面的努力。

以目前何鸿燊的势力和威望，何婉琪要想撼动，谈何容易。

 

 刘淇（右）会见何鸿燊

刘淇（右）向何鸿燊赠送礼物

最大的敌人是自己

出生于1921年的何鸿燊家世显赫，其曾祖何仕文是英国人，在香港洋行做职员。何仕文的长男便是后来大名鼎鼎的何东爵士，是当时人所共知的香港首富，中国历史上的三位著名人物孙中山、康有为和蒋介石都是何东的朋友。因为名气太盛，掩盖了其弟何福的光彩。其实，何福也是当时香港的顶级人物，做过怡和洋行、沙宣洋行买办，任过定例局（立法局）议员，是当时的华商五巨头之一。

何鸿燊的父亲何世光是何福的第四子，也是香港著名富商，曾担任沙宣洋行的买办，还是廿四行商会主席、香港中华总商会主席及东华三院主席。但何世光1934年炒股失利，变得一贫如洗，何鸿燊从富家少爷变成了穷小子。

作为第三代混血儿的何鸿燊，体内流着英国、波斯、犹太和中国四个源头的血液，自然长得体形高大、面容俊秀、智力出众。凭借着自己天生的优势和后天的努力，1943年何鸿燊用他从联昌公司分得的100万红利独立创办了澳门火水（煤油）公司，后来他又转道香港发展，与人合资创办利安建筑公司，到20世纪50年代中期，他已经成为香港赫赫有名的大亨了。

1961年，何鸿燊与叶汉、叶德利、霍英东等结成联盟，竞得澳门博彩专利权，创办澳门旅游娱乐有限公司，建成葡京大酒店，并在香港注册信德公司，90年代又在澳门建立皇宫赌场。自此，一代枭雄羽翼日渐丰满，成为澳门博彩史上权势最大、获利最多、名气最响、在位最长的赌王。其控制的资产达5000亿港元之巨，个人财富有200亿港元，跻身港澳十大超级富豪之列，稳坐澳门首富宝座。

但盛极而衰。何鸿燊早年便已经尝过豪门巨族的旦夕悲欢——在其父家境极其优裕的时候，何鸿燊的叔叔何世亮为股票虚假信息所误，召集世荣、世耀、世光三个兄长，孤注一掷进行投机炒作，结果一败涂地。三个兄弟一个吞枪自杀、一个吞服安眠药自杀，而何鸿燊的父亲则只身逃往越南，弄得妻离子散。

失败的阴影滋长了何鸿燊强盛的成功欲望，又是这种欲望让他不择手段，无情地清洗了早年的合作伙伴叶汉等人，又不顾手足之情，要挟、排挤其胞妹，并在世界级博彩巨头来犯时发起了猛烈的反击。他对一切“敌人”毫无畏惧之心。

其实，他最大的敌人是他自己。他一直不服输。虽然已经88岁高龄，他仍然对权力、金钱、美人表现出了强烈的欲望。但总有一天，他对这一切会变得有心无力。

他的四任妻子总共给他留下了17个子女，而他最喜欢的是事业上最得力的助手何超琼。近年来，何鸿燊一直大力扶持何超琼上位，让其取代何婉琪进入澳娱董事局，希望她成为新一代的赌后。

对于所有像何鸿燊一样年至耄耋的商界巨富而言，选择合适的接班人就是为自己举行最为风光的“葬礼”。

何鸿燊妻妾儿女清单

何鸿燊 拥有四房妻妾、17个儿女，澳门赌王何鸿燊尽管劝戒大家「齐人之福不容易享」，不过他的前两任老婆，都是众所周知的大美女，低调的叁姨太及当前最受宠的四姨太，则各有千秋。外传3个姨太之间互有心结，不过何鸿--以「不会偏心」，化解家庭纠纷。

赌王的大家庭: 
　元配 黎婉华(CLEMENTINE LEITAO)（已殁）所生： 
　　何超英 = 前夫 萧百成 
　　何猷光(ROBERT)= SUKI（已逝）
　　何超贤(ANGELA) = 丈夫 PETER 
　　何超雄(DEBORAH) ----------------同性恋

　妾侍 蓝琼璎(NAM, KING-YING)所生： 
　　何超琼(PANSY) = 丈夫 许晋亨(离婚) 
　　何超凤(DAISY) = 丈夫 何志坚 
　　何超蕸(MAISY) ------------------同性恋
　　何超仪(JOSIE) = 丈夫 陈子聪(CONROY) 
　　何猷龙(LAWRENCE) = 妻子 罗秀茵

　三姨太 陈婉珍(CHAN, YUEN-CHUN)所生： 
　　何超云(FLORINDA) 
　　何超莲(LAURINDA) 
　　何猷启 （他和超莲是龙凤胎）

　四姨太 梁安琪(ANGELA, LEONG ON-KI)所生： 
　　何超盈(SABRINA) 
　　何猷佳 （夭折）
　　何猷君 
　　何猷亨 （他和猷君是双胞胎）
　　何超欣
　　PS：何超云刚满18岁 她下面的都是未成年的

 原配 黎婉华（CLEMENTINE LEITAO）

赌王原配夫人黎婉华，是何鸿粲4位妻子中最低调的。

　　何鸿燊第一任老婆中文名字叫做黎婉华，是匍萄牙人，为他生下1男3女（(超英﹑超贤﹑猷光与超雄)），出生澳门显赫的律师家庭，气质高雅，在当时被称作澳门街第一美女，不过有4国混血的何鸿--当然也是个大帅哥，金童玉女的汇编，直到黎婉华车祸昏迷、染上怪病过世之後，再加上长子跟着早逝，何鸿--伤心不已，随着母亲的过世，3名女儿也在家族中退隐。

何鸿燊伤心到一路要由孙女家华搀扶，而何超雄则手捧母亲遗照，神情哀伤。

60多岁的长女何超英打扮像年轻女孩

  

　　第二任老婆蓝琼璎，则是让何鸿--满意得不得了，据说年轻时也是个大美人，而且锺情於跳舞，和同样喜欢跳舞的何鸿--一拍即合，蓝琼璎生下3个女儿1个儿子，其中大女儿何超琼最受疼爱，外界认为极有可能成为赌王接班人，另一名女儿何超仪则是在演艺圈闯出名号。

     1972年末,何鸿森以175万向华侨工程师叶守珍购入渣甸山谷柏道二十五号,在购买大宅的第二年,何将其转赠给当时十分得宠的二太太蓝琼璎作礼物,由此可见二太太超然的地位

他们家的门牌也比人家神气...

何超琼 

　　 何超琼就是与许晋亨有婚姻关系,并被李嘉欣插了一腿的何大小姐,她今年45岁,毕业于美国圣克莱大学，主修市场学及国际商业管理。现身兼香港信德集团有限公司董事、总经理、澳门旅游观光塔总经理、澳门航空股份有限公司董事等十多个要职，她掌管的公司资产多达上百亿元。

　　在众多子女中，何超琼是父亲手把手教出来的，能力很强，而且在商道上摸爬滚打了许多年。尽管何超琼说自己不会直接参与赌场运作，但外界认为她实际上已经成为“赌王”的接班人，待时机成熟后，便会正式接手“赌王”江山。

　　 年度表现：年初，身为澳门委员的何超琼在北京市政协十届二次会议上作书面发言，阐述澳门在分享奥运会带来的庞大投资和消费效益时，也必须利用自身优势，在“新北京、新奥运”建设过程中扮演更为重要的角色。 为北京奥运挖掘更多商机。

　　2004年，何超琼入选美国《财富》杂志“50位全球最有影响力的商界女性榜”第49位。 明星素质及提名理由：集智慧、美貌、财富于一身的完美女性典范。

何超凤

何超蕸

何超儀（Josie Ho，1974年12月26日－），藝名何超，香港女歌手，電影演員。2003年11月，何超儀與陳子聰在澳洲註冊結婚。

 

何猷龙

 2002年的 左起：何猷龙夫妇 赌王 何超云 何超盈 何超琼

舅仔蓝铧缨

三姨太 陈婉珍

　　三姨太陈婉珍也有2女1男，媒体对她的印象是行事相当低调，

　　“三奶”陈婉珍是香港人，原是何鸿燊的情人。赌王常有“追女孩易，甩掉太难”的感慨，想必陈婉珍属于那种缠上了就难甩掉的情人。不过，再难甩掉，还是得甩掉，否则赌王就不可能继续演绎“另寻新欢”的故事。

　　陈婉珍不仅未被甩掉，还荣升为赌王的“三奶”。这并不是说陈婉珍的魅力就大过赌王以往的情人，而是赌王家庭发生了变化。

　　80年代中期，香港出现移民潮，移民的首选地是加拿大。赌王二太太蓝琼缨的父亲早10年就移民加国，于是蓝琼缨于1985年移民加拿大，为赌王投资加拿大并举家迁徙打前站。至于是否有感情方面的原因，外界均不知道。

　　1985年9月，何鸿燊以陈婉珍的名义在香港购置了大潭雅柏苑两个中层单位（住宅），公开与陈婉珍同居。每套住宅面积2200平方英尺（约折210平方米），现值5200万港元。

　　赌王金屋藏娇不是传统意义上的把妻妾养在深闺里。赌王多次带“三奶”陈婉珍去外地或外国做生意。比如1989年陈婉珍曾陪同赌王到越南考察赌场投资，赌王还让她入股他在越南的赌场。

　　当然，去加拿大做生意是万万不能一道前往的，那里是“二奶”蓝琼缨的“领地”。赌王总是采取“隔离”政策实现妻妾们的“和睦”。

　　陈婉珍为赌王育有龙凤胎和一个女儿。生龙凤胎是1991年，让赌王惊喜万分。然而到第二年，赌王只是探望“三奶”，就像当年与“二奶”蓝琼缨恩恩爱爱时探望澳门的“元配”黎婉华那样。

超莲 超云 三太 超盈 猷君 猷亨

猷启 超莲这两个居然是双胞胎

  

四姨太 梁安琪(ANGELA, LEONG ON-KI)

　　有女强人之称的四姨太梁安琪担任澳门立法会议员，和何鸿--相差39岁之多，当时也是因为舞技高超受到青睐，据说是何鸿--当前最宠爱的小老婆。

　　1992年，何鸿燊来广州接受“荣誉市民”称号。有一位魅力迷人的女士侍奉赌王左右，并随赌王一道上主席台接受广州市长颁奖。广州的一些亲戚朋友同事们在电视屏幕上认出梁安琪。阿琪是赌王的什么人呢？是私人秘书？情人？还是？不管什么议论，在多数人看来，阿琪高攀上了港澳大富豪，算是混出头了。

　　1986年初，身为舞蹈教师的梁小姐在学员的引荐下出席一个私人舞会。赌王何鸿燊是舞会的特邀嘉宾，不过今次他是孓然一人，善舞的 “二奶”蓝琼缨远在天涯，“三奶”陈婉珍不会跳舞。梁安琪作为特邀女宾正是为赌王之类无舞伴男宾准备的，在女主人的引荐下，梁小姐做了赌王的舞伴，伴随着赌王翩翩起舞。两人眉目传情，彼此倾心。此时，何鸿燊为陈婉珍购入两人的“爱巢”，将陈小姐纳为“三奶”还不到半年！

梁安琪的处境马上发生转变，她被赌王安排到赌场账房做文员，每月薪水3000港币，每天工作4小时——从中午12时到下午4时。空暇还可“炒更”，梁安琪邀另一位舞蹈教师合资开办了一所舞蹈学校，自己做老板兼教员。梁小姐常为赌王伴舞，出入于港澳的上流社会。人们根据他们的亲热程度，猜想他们的关系已经不一般。

　　1989年9月，何鸿燊以梁安琪的名义购置了寿山村道26号独立洋房（面积约3000平方英尺），作为两人的“爱巢”，正式“册封”梁安琪为“四奶”。到1992年，赌王基本上不到“三奶”陈婉珍的寓所居住，集宠爱于“四奶”一身。梁安琪为赌王生有3子2女，为何家传宗接代的头等功臣。

　　梁安琪虽是港澳知名的贵妇，但并不安于在豪门深宅里坐享荣华福贵。她近年从经营饮食业的茶餐厅，拓展到桑拿、高尔夫球、证券等各种类型的生意，在商场上施展才干，使她在赌王四太太的身份外，又多了一个称号——“商界女强人”。最近她还开拓了新事业——杂志，港、澳两地因为开放了“个人游”而展现无限商机，她乘势出版杂志《香港自由行》，介绍吃喝玩乐，引起社会惊呼：“四太太又杀入传媒界了！”
　　但她剖白说：“这只是一盘生意的机遇。”她说：“因为看好自由行的发展潜力，所以试一下；我暂时未想过要做传媒。”她透露当初决定办杂志，连赌王都吃一惊，并慎重地劝她：“切勿做伤害人的新闻”，经她解释他才放心。
　　谈起做生意，她的经验是：“机遇一到就得立即作出决定。”她直言这也是从赌王那里得到的启示。她表示：“自己的缺点是心急，不像另一半那样目光远大，兼顾四面八方的。”但说到自己的优点，她以已结业的时装店为例说：“市道好时是有钱赚，但市道不好时，唯一的做法就是斩得快。”她强调：“不是我多么聪明，而是时势逼得你不得不这样。比如投资房地产，1997年我都曾高价买入，不料突然遇上金融风暴，一直守到现在这个市场才开始好一点。”
　　梁安琪承认，开创赌场霸业的赌王丈夫，是常向她面授机宜的高参。她说：“他会将经验介绍给我，将做事的例子讲给我听，教了我好多做法，使我的视野开阔多了。直到现在，我还要向他学怎样待人接物，我是个过于耿直的人，不如他看得长远、心胸广阔。”
　　提到心胸广阔，她不讳言做赌王的女人，要比其他女人更加心胸广阔与大方才行。而自己开朗外向的性格对此帮助不少。赌王很欣赏梁安琪的豁达大度。当赌王的妹妹十姑娘与赌王争权期间，梁安琪站出来维护赌王。当时有人曾暗示赌王把十姑娘摒出局，安排梁安琪入“澳娱”高层，让她成为箭靶。但她对此毫不动气。她说：“当时我未解释，让事实说话吧，大家有目共睹。” 

　　

四太梁安琪女儿何超盈  

其它家属

侄儿何猷伦 (Alan)(左一)

外甥谢天赐 (Andrew)

十三姑娘何婉颖

十姑娘何婉琪

 

八姑娘何婉鸿 (右

部分引文来源  南方人物周刊 作者：张小平