My Age of Investment

   Chapter 776

  Beijing, 36th floor of China Merchants Building.

   Liu Hai, Jiang Ping, and Abel are holding a remote video conference with Xia Jingxing.

  "The two funds of funds of Lidong and Dongzhi, totaling US$3 billion, have all been invested."

  Abel reported with a solemn expression, “All the 1.5 billion US dollars of the Lidong Fund were invested in Peter Thiel’s Claire Capital. He set up a new fund for us and rented an office on Wall Street.

  From investment managers to analysts and traders, all are our people, but Peter Thiel still arranged for two people to come over. "

  Xia Jingxing nodded, "Okay, leave the two people alone, just do our business well."

   Peter Thiel had intervened two people to greet him in advance, and he agreed.

  Because no one can guarantee that Envision Capital will do something extraordinary in the name of Clay Capital. It is normal for Peter Thiel to take precautions, not to deliberately monitor them.

  Now that the deployment has been completed, he doesn't mind Peter Thiel following after taking a drink, but only if he has the courage.

  Abel continued to report: “The 1.5 billion US dollars of the Winter Solstice Fund, of which US$700 million was invested in 8 newly acquired hedge fund companies, each with an asset management scale of less than US$90 million, each of which is managed by one of our trading teams;

  Another 800 million U.S. dollars are managed by the two next to me, William Liu and Peter Jiang, each with 400 million U.S. dollars. "

  Xia Jingxing smiled, "This arrangement is very reasonable! It has achieved our goal of diversifying investment and reducing risks."

  Abel smiled without saying a word. He knew exactly what the boss’s real purpose was.

  As an American, he doesn't quite understand the boss's idea of ​​not wanting to show up.

  If the short-selling is really successful, then it is a good opportunity to become a **** on Wall Street, and countless fame and fortune will come.

  But the boss is Chinese, and it is normal to worry about being hated and targeted.

  I can only say that the boss is really too stable.

  As the managers of the two funds of funds, these arrangements did not cause him too much trouble, but the operation was a little more complicated.

   "Under the cooperation of Goldman Sachs and Morgan Stanley, we have bought most of the funds into synthetic CDO and ordinary CDS contracts, and a small amount of funds have shorted the ABX subprime bond derivative index."

Jiang Ping looked at Xia Jingxing on the other side of the screen with a serious face, and said in a more serious tone: "The first insurance premiums of the two contracts have been paid, and at the same time, the two major investment banks have also paid a sum of product design, marketing, and intermediary costs. ABX The index has experienced a round of rise this month...

  As of now, the net value of our fund has fallen by 10%, which is equivalent to a temporary loss of US$300 million. "

  Such a large loss is unprecedented in Jiang Ping’s career history.

  As a trader, he has a big heart, so he didn’t lose his mind and mess around.

  But he is very worried that the boss will have negative emotions!

  Less than one month after entering the market, he lost the company’s profit in the past year.

  If the boss shrinks because of this, he doesn’t know whether to persuade him or not.

   Liu Hai and Abel also had the same concerns in their hearts, and looked at the boss on the screen very nervously.

  At this time, it is late at night in the United States, and the 49th floor of 40 Wall Street is still brightly lit.

  After discussing for several hours, the three of them made a difficult decision and called the boss’ secretary.

   Hearing the tragic news of a loss of 300 million US dollars, Xia Jingxing's heart actually fluctuates, but he still keeps a smile on his face. As the initiator and boss of the short-selling plan, he must give his subordinates confidence.

   "It's only 300 million, not a big number, better than I expected."

  Xia Jingxing spread out her hands indifferently, and said with a smile: "Everything reaches the peak first, and then falls to the trough.

  This is the last stubbornness of the housing market. After this period of time, it will become docile.

  Guys, cheer up, have you forgotten the stop loss line I set? It’s still safe. Don’t be discouraged. If you feel pressured, go to fitness, play golf, or go out on a yacht for swimwear parties. It’s all with you, and the company will reimburse all expenses. "

  The three people on the screen heard these words and finally put their hearts back in their stomachs.

  Sometimes the scariest thing is not a god-like opponent, but a teammate who intervenes indiscriminately.

  Xia Jingxing did not criticize them for "a little bit" of loss, and demonstrated extremely excellent financial literacy, which allowed them to cast aside a lot of worries.

  No one wants to be distracted by babbling explanations to a boss who doesn’t know anything in the face of the complex trading market environment and the huge pressure caused by the market slump. That will drive people crazy.

  "You must have confidence in the market, in our judgment and investigation."

  Xia Jingxing smiled and said, “Negative emotions are contagious. If you don’t even have confidence, what about the people below?

   just lost 10%, don’t cry out, it makes us look like we are going bankrupt tomorrow. "

  After Xia Jingxing's cheering, the three of them completely recovered their spirits, and the haze caused by the short-term defeat was no longer visible on their faces.

   "After reading our email report, LP was taken aback, and the reaction was very big, saying everything, and many people even asked us to adjust our trading strategy."

   Liu Hai spit out, “The most annoying thing is that some LPs questioned our professional ability. Now the whole Wall Street is rumored that we have lost hundreds of millions of dollars. In fact, the report to the LP only lost more than 100 million US dollars.”

  Xia Jingxing chuckled, “Just let the customer relations department come forward to appease them, you don’t need to pay attention to them. Anyway, the door is welded to death and you can’t jump off the car!”

   Liu Hai smiled and felt that this analogy was very appropriate. According to the signed agreement, the fund LP cannot redeem it before the end of the closed period.

  Even if Vision Capital loses only 10% of its net worth, it must wait for the fund to mature in tears.

   "Oh, yes, Goldman Sachs and Morgan Stanley heard that you have been questioned in China. They asked us, do you need help?"

  Xia Jingxing smiled, “The CEOs of their two companies and I have spoken on the phone. You don’t have to worry about this.”

  To be honest, Xia Jingxing feels that the news of these two investment banks is really well-informed.

  As soon as the domestic front foot revealed that he was in financial crisis, the back foot Goldman Sachs and Morgan Stanley came to negotiate loan business.

  The two investment banks fell into trouble and borrowed money, which is purely false.

  Because they have many cooperations with Xia Jingxing and Envision Capital, they are very clear about Xia Jingxing's financial resources.

  Those who have a lot of money dare to go short subordinated debts, what kind of wells, what kind of rocks?

  Perhaps, Xia Jingxing failed to sell short, they are willing to give a "helping hand".

  The local state-owned assets management departments in China are obviously not so sensible, and the news channels are also blocked.

  Xia Jingxing controls a lot of assets, but liabilities and capital flows are always a cloud of fog, and ordinary people and institutions cannot find it at all.

  In fact, he also understands the worries and urgency of the local government. After all, the financial criminals have only been sent away on the front foot. If another one comes in on the back foot, it is really terrible. Do you want to make progress?

   is just a matter of catching the wind, and the local state-owned assets management department did not do too much. It just urged the payment under various pretexts and completed it within the specified date. Otherwise, it would be difficult for them to handle it.

  This is actually a kind of tacit understanding.

   "The $400 million in exchange for the mortgage on Wall Street 40, hasn't been allocated to Paulson?"

  Liu Hai was the person in charge, and replied: “It has been paid in full, and he often talks with me on the phone to report some work progress.”

  Xia Jingxing thinks Paulson is really cute, and he is not afraid of Envision Capital following him to copy the answer.

  This is exactly the same as he is not afraid that Peter Thiel will copy the answer. The fund loses 10% when it enters the market, and most people don't dare to play.

  "He also has 400 million U.S. dollars."

  Xia Jingxing looked at Liu Hai and Jiang Ping on the screen, “Compare you two with him to see who creates a higher rate of return before deducting management fees and sharing.”

   Liu Hai smiled and said: "Okay, then compare with him."

  Jiang Ping didn't speak, he nodded, his face was full of confidence, and he was not ashamed of the two competitors.

  (End of this chapter)