My Age of Investment

  Chapter 1070 Deadly Sword

  Xia Jingxing turned to look at Liu Hai and Jiang Ping sitting on the right side of the long table.

  The two had not spoken a while ago, and they were quietly listening to Xia Jingxing and Abel's non-stop dialogue, which was quite interesting.

  But they are non-professionals, so it's hard to give any advice.

  "How? Is the plan great? This is a major investment based on the industry chain and betting on the development trend of domestic culture and entertainment."

   Liu Hai smiled and said, “It’s good, I think Hong Kong movies were so popular back then, they have a certain position in the world’s film scene, and they have also allowed the world to learn more about the Chinese, which can be regarded as a cultural window.

  If the mainland movie market develops, it will definitely be a behemoth.

  In the case of ensuring the stability of your own basic disk, you can also try to go out.

  Relying on the domestic ticket warehouse, we will continue to strengthen the investment ceiling and sophistication of film and television production, and I believe it will still have a certain degree of competitiveness overseas. "

  Jiang Ping smiled and said: "I have not seen many movies, but I can really feel some technological and conceptual gaps between China and the United States. This is a shortcoming and needs to be strengthened.

  You, Internet tycoon and financial tycoon, are now crowning a new crown, entertainment tycoon! "

  Xia Jingxing smiled, "Don't make fun of me! There is nothing like this, just give it a try.

  If you do, do it vigorously. If you don’t, continue to dig into the shortcomings, and you can always find a way to rise. "

  Liu Hai and Jiang Ping nodded, and stopped gossiping, and began to report on the situation of their respective funds in May.

  "Since April, the U.S. stock market has started a full-line rebound mode. We have carried out a round of position adjustment work. We are still troubled by this rebound potential, which has caused the fund to lose a lot of losses."

  Liu Haihai said and shook his head, “I don’t understand, maybe it’s like what you said Jingxing, the funeral is happy, it’s inspiring!”

  A faint smile hung on Xia Jingxing’s face, “Before the prey dies, the corpse always flops twice, just withstand the counterattack.”

  Jiang Ping interjected: "But since January this year, there have been several rounds of flops.

  I can feel that the US stock market is going to be dying, but no one can predict how long it will last.

  If it can last until next year, the situation will be very bad! "

  Xia Jingxing can understand the pressure faced by the two, because even ordinary traders in the financial industry are under a lot of mental stress, let alone the two in charge of 20 billion US dollars of funds.

  As soon as I open my eyes every day, I look at the floating loss of hundreds of millions and billions of dollars in my account, and even my firm belief in short-selling will be shaken.

   Gazing into the eyes of the two of them, Xia Jingxing encouraged: “Strong confidence, I have a hunch that after one to two months, the market will undergo major changes.”

After Liu Hai and Jiang Ping glanced at each other, they both nodded, did not ask, just take it as true, and give themselves a little psychological comfort and spiritual encouragement.

  Next, the two began to report the specific losses of the fund.

Jiang Ping said with a calm face: "The S&P 500 Index closed at 1423.57 today, resulting in a book loss of nearly US$600 million. If we add the investment in the other two major indexes and derivatives, the book loss has reached US$3 billion. ."

   Liu Hai immediately reported: "Our investment in stocks and derivatives has also accumulated a total loss of nearly 2 billion US dollars."

  Xia Jingxing’s reaction was very calm, “A total of 5 billion U.S. dollars in floating losses, divided by 40 billion U.S. dollars in funds, the loss rate is only 12.5%, which is still acceptable."

   Liu Hai corrected it and said: “US$40 billion is the capital effect after the leverage is enlarged. In fact, the principal invested by us is only US$13.3 billion.

  In other words, when we close the position and stop the loss, the principal loss rate will reach 37.6%. "

  Hearing this astonishing number, Abel who was in the audience couldn't sit still, and exclaimed: "How come you lose so much?"

  Jiang Ping explained: “Because in index investment, we have added up to 3×10 times leverage!

  3 times the leverage comes from the TRS tools of the two major investment banks, and the other 10 times comes from the trading leverage provided by CME Group.

  However, at least half of the margin is kept in our trading account at any time, so it can also be regarded as 15 times leverage. "

  Speaking of this, Jiang Ping glanced at Xia Jingxing, “Because of the huge floating loss in the book, we used the funds in the US$3 billion reserve account.”

   "We also used 2 billion US dollars in reserve funds!" Liu Hai said immediately.

   "I know! Just use it, nothing to hesitate!"

  Xia Jingxing nodded lightly at the two of them, his expression finally becoming heavier.

  He quickly calculated in his mind that with the use of 5 billion U.S. dollars in reserve funds, there are only 7 billion U.S. dollars left in the reserve account.

  This is not a very reassuring number.

  The US stock market will fluctuate a few more times. Without reducing positions and leverage, their remaining US$7 billion in reserve funds will easily be filled in.

  After doing this, without reserve funds, they can no longer be as calm as they are now, and can only choose to harden the volatility of the stock market.

  But he would definitely not choose to do this, it was too dangerous, there was no need to fight for his life.

  And if you choose to reduce leverage and positions, your income will be greatly reduced and safety will be greatly increased.

  U.S. stocks are so capricious, their vitality is also very strong, and they will die.

   "What's the situation in Einhorn?"

Xia Jingxing looked at Abel, and the latter spread his hands towards him, "Recently, I was busy buying Marvel. I only know that he is still chatting with Lehman Brothers. Now the entire United States knows that there is a man named "Eindho." Hmm, the guy shorted Lehman."

  Xia Jingxing smiled faintly, "He is quite high-profile, but the swordsmanship is not good enough. It has been so long, and he has not stabbed Lehman Brothers."

  ……

  ……

  In a high-end hotel in New York, Einhorn was glamorous in a neat suit and looked at the reporters in the audience with a smile on his face.

   "A lot of people came today! I know, you all can't wait to get some hot news from me."

   Hearing the words, the reporter immediately burst into laughter.

  Indeed, they have been tracking and reporting on this Wall Street star fund manager recently.

  The other party has been Dissing Lehman Brothers continuously over the past few months, making golden sentences frequently, and daring to say anything. The tricks are aimed at Lehman Brothers.

  After being reported to the SEC by Lehman Brothers and initiated a lawsuit, he did not stop at all, but jumped more happily. Lehman's management headed by Fuld almost pointed to the liar.

  These performances of the other party are just in line with the wishes of these reporters.

  There are fresh materials every day, and only one Einhorn is enough for them to report for a few months.

  Praise God! Praise Einhorn!

   "Your laughter told me that you are looking forward to today's news."

   Standing on the stage, Einhorn shrugged, "Similarly, I am also looking forward to the effects of your news report today!"

A reporter in the audience yelled: "Man, today’s heavyweight news breaks down. Every day is not accusing Ferd of taking away 500 million U.S. dollars in salary and option rewards in the past 8 years, that is to say, Lehman will generate more than 600 billion U.S. dollars. Everyone is tired of listening to the huge debt pit, let’s get something fresh."

  As soon as this remark came out, other reporters echoed, and they were enthusiastic about it.

  Listening to the waves of cheers from the stage below, Einhorn was a little bit dumbfounded.

  Good financial news, how can it be turned into entertainment news by oneself.

   "Okay, please keep quiet, let's listen to an interesting conversation."

  The audience quickly became quiet, only listening to the loudspeakers around the conference hall began to emit clear conversations.

  "Hey, Ms. Karan, you are really **** today!" The male voice is very frivolous, and it makes people laugh.

  "Thank you! Mr. Einhorn, let's talk about business. How are you thinking about it?" The female voice gave a stern look, in an official tone.

"what do you mean?"

   "Mr. Einhorn, do you need me to remind you? My boss doesn't want to hear you from the media anymore."

   "Everyone has the right to speak freely, not to mention that I am still an investor in Lehman. Why should Lehman shut me up?"

  As the man's attitude began to become stronger, the woman's tone began to soften, "Let's talk about it, how can you stop slandering Lehman Brothers."

  "Waiting for you to fall! Also, I am not slandering, but urging you to improve your financial situation."

  The female voice was silent for a while before it sounded again, "Make your offer?"

   "I don't have any conditions, I just need you to answer a few questions honestly."

  ...

  Under the stage, the reporters held their breath and listened quietly to the audio.

  Everyone can hear it. This is Lehman Brothers’ CFO Irene Karan who is meeting and talking privately with Einhorn.

  The content of the chat is also very popular. First, Irene Karan was forced to buy Einhorn.

  But Einhorn completely ignored Irene Karan's set, and even took the initiative to attack, and began to raise various questions about Lehman’s first quarter earnings report.

   "The company's business is too complicated, so it is difficult for the outside world to understand. This has caused a misunderstanding of a crisis that does not exist. This is a very regrettable thing."

  "Ms. Karan, I am a professional investor. I believe that the complex business you mentioned does not pose a problem to me."

  "This...I didn't bring the relevant documents today, can I take it another day?"

  "Then can I ask you a few sets of data?"

  ...

  Next, Einhorn began to continuously report a set of accurate data and ask questions about the data.

  Eileen Karan couldn't answer at all, or she didn't want to answer, Gu Zuo said to him.

  The covert and embarrassing appearance, even if the reporters in the audience did not see it with their own eyes, they quickly made up the relevant pictures, and the scene was in an uproar.

  Everyone mourned for three seconds of silence for this lady who had only been CFO for a few months, it was over!

  Because of her performance, Lehman Brothers' guilty conscience was thoroughly exposed.

What is    hiding?

  Lehman really has a problem?

Will    be the next Bear Stearns?

  The reporters listened to the audio with countless questions, and then scrambled to ask Einhorn questions. There were crazy reporters who wanted to rush to the stage to interview, but they were stopped by security.

  Looking at the performance of the reporters, Einhorn finally smiled with satisfaction. It is worthwhile that he can stab this deadly sword after carefully laying out for so long.

  (End of this chapter)