Cheng Hongtai

"In March 1848, the discovery of gold reefs in the western United States, California, was reported in various publications. News quickly spread to the southern coast, attracting many villagers. In 1849, shipping companies in China published advertisements recruiting laborers to go to the United States for gold prospecting. The advertisement read: "The American people are the richest in the world, and they welcome the Chinese. Once you arrive in the United States, there are big houses to live in, high wages, good clothes, and food... Do not doubt, and immediately embark on the road to prosperity." (Wei Guanzhong, 1977: 1)"

"This was due not only to his visionary foresight and acumen but also to his quick decision-making and decisiveness. However, his impetuous and uncompromising personality may also have been reasons for attracting too much attention and potential resentment, which in some cases, led to unfortunate outcomes. For these reasons, I believe it’s necessary to understand his unique character traits."

"during his early collaboration, due to his optimistic view of the market's prospects, he adopted a "buy low" strategy. However, some shareholders were concerned and hesitant due to the market's downturn at the time."