My Age of Investment

   Chapter 1157 Operation of Fund of Funds

   "Since this year, my team and I have been in charge of discovering and selecting sub-fund managers, and we have established extensive cooperation with Greenlight Capital, Tiger Asia, Global Investment, Snow Lake Capital and other funds..."

  Abel is in charge of the operation of a fund of funds in addition to external fundraising for all funds in the New York office.

   This is also because Xia Jingxing thought that his work was more serious and down-to-earth, he specially gave him a performance opportunity, and he also had the consideration of trying the water in the direction of the Fund of Funds.

  As a result, the performance of Abel and the fund he managed was a bit beyond Xia Jingxing's expectations.

   "Da Xue No. 2 FOF invested USD 100 million in Greenlight Capital, and together with them, they shorted Lehman Brothers..."

  Xia Jingxing smiled and looked at Abel who was standing on the stage in high spirits and introduced the performance of Greenlight Capital Fund.

   In fact, the amount of investment income is only secondary. Greenlight Capital stood in front of the stage and helped Envision Capital to attract a lot of firepower. This is what Xia Jingxing values ​​most.

   In addition to the fund of funds that injected 100 million US dollars into Greenlight Capital with LP money, Xia Jingxing personally took out 1 billion US dollars from the reserve account and handed it over to Greenlight Capital to take care of it.

  80% of the investment income generated by the US$1 billion will go to Xia Jingxing, and 20% will go to Greenlight Capital.

  After the benefits were in hand, Einhorn did really work very hard, stabbed a knife in the chest of Lehman Brothers, and it didn't take long for Lehman to go bankrupt, which then spawned a full-scale financial tsunami.

   Judging from its role alone, Einhorn's chess piece is of great value.

   Then, Abel introduced the situation of Tiger Asia Fund in detail.

After receiving the capital injection from Envision Capital, Bill Huang first went to the financial markets of various countries to short a round, and he made a lot of gains. Then he joined with Envision Capital to short the listed companies under the Li family on Hong Kong Island, making a lot of money. .

   In terms of return rate alone, Tiger Asia Fund is not much worse than shorting Lehman Brothers' Greenlight Capital.

   Immediately afterwards, Abel talked about the situation of Snow Lake Capital.

   "Ma is a young man with great investment vision. He took the US$20 million we gave him and the US$20 million he raised to set up his first hedge fund.

   During this period of time, he and his fund have been shorting US stocks following our ass, and the $40 million fund has been turned into $100 million by him. "

   Hearing that, all the executives looked at the introduction of Snow Lake Capital and Ma Ziming on the screen with curiosity.

A young man in his twenties who has no experience in running a hedge fund independently, but has only worked for a few years in the well-known hedge fund Ziff Brothers, has performed so well. Many of them are really surprised and curious. .

  Xia Jingxing is not very curious, because Ma's self-name really has two strokes. In his previous life, Xuehu Capital founded by this guy hid behind the muddy water and shorted Luckin Coffee.

Muddy Water is actually just a tool person, standing in the foreground to publish short-selling reports and questioning financial fraud materials, while attracting most of the firepower, while hedge funds such as Xuehu Capital hide behind the scenes and short-selling are the real promoters of short-selling plans. It is also the biggest profiter of short selling.

  But Ma’s reputation for being awesome is in the future, how can he perform so well now?

  Xia Jingxing asked with a hint of doubt: "You told him we shorted the financial market?"

   Abel shook his head again and again, "How is this possible! It is absolutely impossible for me to tell him our plan, even a little bit will not leak to him.

  We, as LPs, and Snow Lake Capital, as GPs, only have their responsibility to disclose information to us. How can we disclose information to them?

  Don't worry, Daeron, I couldn't have made such a serious and low-level mistake. "

   Abel's whole reaction was very excited. He was afraid that the boss would misunderstand him and think that he was not strict with his mouth, and it would be miserable to put him into the cold palace in the future.

  Xia Jingxing smiled and waved his hand, "It's okay, I'm just joking with you! I believe in you!

   There are so many short sellers in the market, are they all following us? This is impossible. The market wind direction is so obvious that a little research can lead to a conclusion.

   However, Ma Ziming took a start-up, small-scale hedge fund like Snow Lake Capital to go short, and it also achieved great success.

   This fact shows that his market sense is still quite sensitive, and his investment and trading level is also good, and he can be listed as our focus and training object in the future. "

  Abel nodded and replied "yes", and then continued to report on Global Investment.

  Jiang Ping looked at the familiar picture on the screen, and suddenly interrupted: "Wait, this company seems to have shorted the S&P 500 index on a large scale?"

  Abel smiled when he heard the words: "Yes, the people in this fund company are a bunch of lunatics. As a newly established hedge fund, they don't want to build a large scale steadily, but they are desperate to get high returns.

   In fact, they not only bought put options on the S&P 500, but also allocated a series of financial derivatives such as stock index futures and VIX panic index.

   If the market hadn’t fallen, their entrepreneurial journey might have come to an abrupt end.

   If it wasn’t for them betting right, I was already thinking about whether to wait until the next opening period and redeem the investment. "

   "But they bet right, they are winners and excellent fund managers, aren't they?" Jiang Ping looked at Abel with a smile.

  Abel spread his hands helplessly, "What if you win, I'm now afraid that they will lose all the money in one go next month.

  You haven't seen that group of people, you don't know how crazy they are, and you seem to like to study black swan events in the market.

   is too alternative. Compared with the mainstream thinking of the market, it is completely the opposite. "

  Jiang Ping became more interested when he heard it, and hurriedly asked: "Can you recommend me to meet them? I'm very interested in their investment strategy."

  Abel didn't speak, he turned to look at Xia Jingxing.

  Xia Jingxing was in deep contemplation at this time, Abel stared at him for a long time, but he didn't respond.

   It took him a while to come to his senses, so Abel repeated the question again.

  Xia Jingxing replied: "Let's make arrangements, I am also very interested in this company."

  Abel nodded and said "OK".

   After a while, Abel finally reported the operation of Daxue No. 2 FOF.

  The performance is quite impressive!

   In terms of return on the fund alone, it exceeds some of the portfolios of Jiang Ping and Liu Hai.

   At present, Abel has been very successful and smooth on his road to prove himself.

   encouraged Abel, and Xia Jingxing asked the others to report their work one by one.

   In addition to the three executives responsible for the specific operation of the fund, there are also senior executives such as legal affairs, personnel, and finance.

   They are not engaged in financial transactions, but both play extremely important roles in their respective positions.

  The personnel executive took the lead in reporting on the recent development of personnel recruitment.

   Affected by the financial crisis, at this time Wall Street is laying off large-scale layoffs.

   On the other hand, Envision Capital did the opposite, not only did not announce layoffs, but instead recruited a large number of employees.

   Among so many unemployed and laid-off people, in fact, many of them are not caused by their own problems, but are implicated by the company and the general environment.

  Xia Jingxing thought that since he had given Jiang Ping a face, he recruited unemployed Chinese employees of Lehman Brothers.

   Then why not expand the scale of "help" a little more?

   Even if it is one in a hundred, one in a thousand, there are still a lot of people rushing to interview.

   Vision Capital can just take this opportunity to supplement the shortage of manpower.

  Because the size of the fund is expanding too fast, they are actually short of people now, but there are not many jobs. Compared with the huge base of unemployed people on Wall Street, it is only a drop in the bucket.

   However, the current Vision Capital is not too famous in the industry. Even if there are not many positions they offer, there are still a lot of people who come to interview.

   With so many people looking for jobs, as a buyer’s market, they can naturally choose the best.

   After all, they are not real poverty alleviation. Wall Streeters are unemployed, Americans are unemployed, it's none of his business.

  The hearts of Wall Street capitalists are black, and they are the most shrewd in reckoning.

   Xia Jingxing is no exception.

What he thinks is that if the recruitment scale is expanded to more people and groups, and if he can find a few outstanding talents, such as a ruthless money-making machine like Jiang Ping, then he can really sleep. Wake up laughing.

   In addition, Envision Capital makes too much money too fast, and naturally, the bonuses of employees are also indispensable.

   Xia Jingxing guessed that there will definitely be old people in the company who will start to enjoy themselves and lose their enterprising spirit.

   Letting these unemployed people into the company is equivalent to injecting fresh blood into the company, keeping the company's internal activity and preventing it from gradually decaying.

  The legal executive also reported at this time: "Daren, I have been leading the team to check our internal documents and contracts, and there are no legal loopholes.

   Even if there is a big trouble, we can pull Goldman Sachs and Morgan Stanley into the water together according to the content of the contract.

   With the participation of institutions with deep backgrounds like them, we can take it easy and have a higher chance of winning when fighting various unknown commercial lawsuits.

  Because as far as I know, those two companies will definitely try their best to get out of trouble.

   As long as they can get rid of the trouble, then we can follow suit, and even take their ride to get rid of the trouble together. "

  Xia Jingxing chuckled and nodded, his money is not so easy to get.

   Goldman Sachs and Morgan Stanley are making so much money these days, so if the big clients are in trouble, there is absolutely no reason for the two major investment banks to stay out of it.

   (end of this chapter)