My Age of Investment

   Chapter 1265 You are a positive character

   "The Big Short, great name!"

   Hearing Xia Jingxing's comments, a smile appeared on Lewis' face.

   He was about to continue, but was interrupted by Xia Jingxing.

   "But I don't like the name!"

  Xia Jingxing looked at Lewis and said solemnly, "Mr. Lewis, you must know that the cause of the financial crisis was not because of hedge funds."

   "I know that! The ruling authorities have a responsibility, the lending banks have a responsibility, and so are the low-income people who borrow.

   This is not the responsibility of one individual or one organization, but everyone pays for it together. "

  Xia Jingxing sneered: "You are right, but there are very few people who have reached the height of your thinking.

  The homeless people, the people who lost money in the financial crisis, can only blame the bears for what made them what they are.

   They unanimously believed that the bears took away their homes and savings.

   After your book is published, I believe that similar arguments will become popular.

   So, I don't want to trouble myself! "

After    finished speaking, Xia Jingxing held his hands and looked at Lewis with bright eyes.

   When this guy came to the door today, he felt bad in his heart, guessing that the other party came to interview him to write "The Big Short".

   has now confirmed his suspicions.

   So he doesn't want to waste any more time on this guy.

  Lewis frowned, "Daren, why did you refuse?

  Please listen to me first, you are definitely a positive character in the book!

   Left Facebook alone and came to a strange Wall Street.

  Here, no one knows you, the rising star of the Internet, and old-school characters make fun of you and laugh at you.

   But you didn't give up your investment dream. After arduous investigation, you finally discovered the subprime mortgage bubble and thought it was an excellent investment opportunity.

   But you don’t have much funds in your hand, so you can only raise funds from LPs bit by bit.

   After a series of setbacks and blows, you and the team finally won the final victory with persistence.

   This is the story of a young man who crossed over from the Internet to start a business in the financial industry, full of inspiration and inspiration.

   In my writing, you are fundamentally different from those who use unethical means to make money from financial markets.

   The book I wrote is also to tell those who do not know that there is no right or wrong in shorting subprime derivatives, CDS is just a financial tool, and the tool is not sinful.

   Instead, we should praise and learn from those who were visionary and held different views during the financial crisis.

   And, in my book, you try to prevent a full-blown financial crisis.

   In fact, you have done the same. I remember your fund manager reminded financial practitioners at the annual meeting of the National Chinese Financial Association the year before last to be careful that the subprime mortgage crisis further spreads to other industries, resulting in a financial tsunami.

  But at that time, not many people were willing to believe your words, and the friendly reminders were ignored. "

  Xia Jingxing pinched his chin and made a serious thought.

   He was recalling the storyline of "The Big Short" in his previous life.

   It seems that the protagonists are not really big villains, but they are constantly running and researching in order to investigate the subprime mortgage.

   When they decided to short the subprime mortgage and signed the agreement, they were regarded as fools by the staff of the investment bank.

  In the movie, it seems that the investment bank is the real villain, causing huge losses because of numbness and greed.

   "Besides me, who else are you going to write about this book?"

  Lewis felt that there was drama when he heard this, and quickly said: "With you, I plan to write four protagonists and four short-selling teams.

   Among them, you are the most profitable one!

  Because you were the most determined and bravest, you persisted until the end, and waited for the ultimate outbreak of the subprime mortgage crisis.

   And others couldn't bear the coercion and inducement from investment banks and LPs, so they chose to empty their CDS contracts early.

   In fact, the reality is the same.

  The other three protagonists, except for the trader from Deutsche Bank, who created income comparable to Vision Capital, the other two have only a few hundred million dollars in income.

   The most important reason for this is that the principal is less than you and Deutsche Bank, and the most important reason is to sell the CDS contract too early. "

  Xia Jingxing asked very calmly, "If I refuse you to write me into your book "The Big Short", what will you do? Will you insist?"

  Lewis met Xia Jingxing's eyes, smiled and replied, "No! I can't afford to anger a Wall Street behemoth.

   However, I will create a virtual character, and it will be a white man. "

  Xia Jingxing said with a smile: "Do you think this has nothing to do with us at all?"

  Lewis spread his hands, "Daren, I came to communicate with you with a very friendly attitude, and I have no intention of harming you."

  Xia Jingxing smiled lightly, "How you want to write novels is your own freedom.

   I can do your interview, but the white people in the book have nothing to do with me. "

   After weighing it in his heart, Xia Jingxing decided to cooperate with Lewis.

   Convenience with others is convenience with oneself.

   Instead of letting this guy play freely, it is better to have some control over him.

  Lewis was ecstatic at first, then regretful.

   He was delighted that Xia Jingxing was willing to accept his interview, but he felt regretful that Xia Jingxing was unwilling to have much to do with his book.

   "Daren..."

  Xia Jingxing raised his hand, "You don't need to persuade me any more, I will help you complete the publication of this book, but don't make trouble for me, it's good for everyone."

  Lewis nodded, "Okay, Darren, thank you for your cooperation, I can give you a look when I'm done writing.

   If you feel that there is something inappropriate, we can negotiate and amend it. "

   Seeing that Xia Jingxing had released a certain kindness to himself, Lewis also showed his favor.

   He was willing to let Xia Jingxing review the books, which dispelled Xia Jingxing's last worries.

   Then, the two of you started asking and answering.

   Through Xia Jingxing's narration, Lewis learned a lot about the industry insider more than two years ago.

   Of course, there are some core secrets that Xia Jingxing will never reveal.

   He only selectively described part of the reasons and process of shorting subprime mortgage derivatives.

   Even so, Lewis gained a lot of inspiration from the perspective of the boss.

  While listening to Xia Jingxing's speech, his fingers were flying, and he could only hear the rustling sound of the paper, and the notebook was filled with pages after pages.

   "Daren, the last question, how much did Vision Capital make from the subprime mortgage crisis in 2007? Shouldn't it be more than the $5 billion announced by the media?"

   Lewis looked at Xia Jingxing with a smile on his face, looking forward to his answer.

  Xia Jingxing smiled, "I would like to add another zero, but the principal is not allowed!"

  Lewis nodded slightly, as if he was thinking too much. Before 2007, Vision Capital was only a little-known small and medium-sized hedge fund, and the principal was insufficient, which naturally limited the profit limit.

   "Okay, Darren, this is the end of the interview! I wish you and Vision Capital more brilliant achievements."

  Lewis took the initiative to stand up and shake hands with Xia Jingxing. After saying goodbye, he turned and left.

   Xia Jingxing asked Liu Hai, who was standing outside the house, to give Lewis a ride.

   After a few minutes, Liu Hai came back and asked the first sentence: "How's it going?"

  Xia Jingxing briefly explained the whole thing to Liu Hai.

After listening to   , Liu Hai frowned and said, "If the book is too popular, it won't cause us any trouble, right?"

   "I have tried my best to avoid and reduce the impact. If there is really trouble finding the door, then it will be."

  Xia Jingxing reminded: "Don't forget, our 2007 results are public, and this cannot be hidden anyway."

   Up to now, Xia Jingxing still doesn't know whether it was right or wrong to announce the performance of the fund in 2007?

  If the reputation of the fund was not established at that time, it would not have been able to raise so much funds for the second wave of short selling.

   Now that the negative effects are coming, you can't regret it, you can only face it calmly.

   "By the way, there is one thing we must pay more attention to."

  Liu Hai said in a deep voice: "Now the outside world is expecting us to announce the fund performance in 2008.

   Like the Paulson Fund's performance in 2007 and 2008 combined, the total return has exceeded 20 billion US dollars.

  Many people and institutions are speculating on the performance of our fund, and some of the powerful characters have learned from our recent bonuses and some LPs that we created a super high rate of return last year. "

  Xia Jingxing nodded lightly, "There is nothing to hide, it will be announced according to the original plan.

   Shorting the listed companies of the Li Huangtai family made a profit of 5 billion US dollars, shorting the public with a profit of 15.8 billion US dollars, and the two foreign exchange funds managed by Jiang Ping made a profit of 3.7 billion US dollars, a total of 24.5 billion US dollars.

   In addition, we made a profit of US$5 billion from shorting sub-prime derivatives the previous year, and Lixia No. 1 made a profit of more than US$2 billion. Our public return data has exceeded US$30 billion, and the Paulson Fund is one of the regulators. "

  Liu Hai said: "This number is similar, and it can generally correspond to various public data, which should dispel some people's doubts."

  Xia Jingxing chuckled: "Whatever they think, believe it or not, we have no obligation or responsibility to release detailed data to the public."

   "But once this data is made public, your worth will definitely increase by tens of billions of dollars.

   It used to be that Forbes and Hurun did not know the specific strength of Vision Capital, but now they have quite reliable sources of valuation data. "

  Liu Hai looked at Xia Jingxing with anticipation. Maybe the boss will break into the top ten of the world's richest list this time, creating a new height and record for China's richest people.

   (end of this chapter)