Ransom

The wave continued to build for nearly three years, as Allan continued to invest in other ventures, and huge blocks of stock in high-risk high-tech companies. He had enormous confidence in his own intuition, sometimes counter to all reason. His friends and colleagues in the dot-com world called him the Mad Cowboy, and teased him about it. And more often than not, Fernanda felt guilty about not being more supportive. He had lacked confidence as a kid, and his father had often put him down for not being more brazen, and suddenly he was so confident she felt that he was constantly dancing on a ledge and totally fearless. But her love for him overcame all her misgivings, and eventually all she could do was cheer him on from the sidelines. She didn't have anything to complain about certainly. Within three years their net worth had almost trebled, and he was worth half a billion dollars. It was beyond thinking.

She and Allan had always been happy together, even before they had money. He was an easygoing nice guy, who loved his wife and kids. It had been a joy they shared each time she gave birth, and he truly adored his children, as she did. He was especially proud of Will, who was a natural athlete. And the first time he saw Ashley at her ballet recital, at five, tears had rolled down his cheeks. He was a wonderful husband and father, and his ability to turn a modest investment into a windfall was going to give their children opportunities that neither of them had ever dreamed of. He was talking about moving to London for a year at some point, so the kids could go to school in Europe. And the thought of spending days on end at the British Museum and the Tate was a major lure for Fernanda. As a result, she didn't even complain when he bought the house on Belgrave Square for twenty million dollars. It was the highest price that had been paid for a house there in recent history. But it was certainly splendid.

The children didn't even object, nor did she, when they went to spend a month there when school got out. They loved exploring London. They spent the rest of the summer on their yacht in the South of France, and invited some of their Silicon Valley friends to join them. Allan had become a legend by then, and there were others making nearly as much money as he had. But as with the gaming tables in Las Vegas, some took their winnings and disappeared, while others put them back on the table and continued to gamble. Allan was continually making deals, and huge investments. She no longer had any clear understanding of what he was doing. All she did was run their houses and take care of their kids, and she had almost stopped worrying about it. She wondered if this was what being rich felt like. It had taken her three years to actually believe it, and for the dream of his success to finally seem real.

The bubble burst finally, three years after his initial windfall. There was a scandal involving one of his companies, one he had heavily invested in as a silent partner. No one actually knew officially if, or to what extent, he had invested, but he lost over a hundred million dollars. Miraculously, at that point, it scarcely made a dent in his fortune. Fernanda read something about the company going under in the newspapers, remembered hearing him talk about it, and asked him. He told her not to worry. According to him, a hundred million dollars meant nothing to them. He was well on his way to being worth nearly a billion dollars. He didn't explain it to her, but he was borrowing against his ever-inflating stocks at that point, and when they started to collapse, he couldn't sell them fast enough to cover the debt. He leveraged his assets by borrowing to buy more assets.

The second big hit was harder than the first, and nearly twice the amount. And after the third hit, as the market plummeted, even Allan began to look worried. The assets he had borrowed against were worth nothing suddenly and all he had left was debt. What came after that was a swan dive so staggering that the entire dot-com world went with it. Within six months almost everything Allan had made had gone up in smoke, and stocks that had been worth two hundred dollars were worth pennies. The implication to the Barneses was disastrous, to say the least.