Investment Life

For most Chinese people, the Lunar New Year is still a long time away, but Chen Yuanming's spring break was announced early. On the first afternoon, he set off on a flight to New York.

This time with him, there are also Song Kaiwen and Guo Guoqiang, the head of Guoxing Fund, and a team of 8 people. The destination is Yuanyang Fund's headquarters in New York. Unlike many other commercial organizations, Chen Yuanming did not place the company in the crowded midtown Manhattan or Wall Street. Instead, he rented an office building on Park Avenue and lived next to those low-profile hedge funds.

For private equity, stealth is almost a prerequisite. Although it is located in the financial capital, the headquarters of Yuanyang Fund is simpler than many people think. There is no sign hanging, and there is no clue in the decoration. If you want to participate in the money game involved in it, you can only use internal channels. This internal channel is the key to all private equity funds.

At the beginning of February, the tide of New Year's dinners of major New York companies had subsided, but those high-end hotels in Manhattan were still booming. Like hibernating creatures resuscitating ahead of time, hedge fund partners started their own private receptions, channeling the flow of money between the staggered stacks. This is a feast belonging to the financial giants, with suits and shoes, smiles, and embarrassment, with a gentlemanly style, sharing the flesh and blood of the victims with a knife and fork.

This kind of communication is essential if you want to gain a foothold in the private equity circle. It is the best way to communicate with each other in the circle and go hand in hand. For the newly established Yuanyang Fund and Chen Yuanming himself, of course, it is no exception.

So after arranging an inspection tour for Sun Guoqiang and others, Chen Yuanming started to get ready for a banquet. The host this time is a true "old friend", Mr. Robertson, the founder of the Tiger Fund.

In the past two years, Chen Yuanming has not wasted much time in this area of ​​Wall Street due to his energy spent in Silicon Valley and China. But his communication with Mr. Robertson has never been interrupted. As a window to the hedge fund world, he learned a lot from this real tycoon, and since the beginning of the European debt crisis in 1994, Mr. Robertson told him His attitude has also changed.

You should know that in 1994, the US macro hedge funds started from prosperity to decline, let alone small companies of 1978, and even real short-term giants such as Steinhardt suffered huge losses. Quantum funds relied on other incomes. It did not lose or make money, but the Tiger Fund made an abnormal profit in 1994.

And this profit is thanks to Chen Yuanming's prompt. Although he has a strong arrogant spleen and never took the words of this Chinese kid seriously, but like an elephant in the house, as long as there is a hint, it will inevitably attract attention. It is this concern that allowed Robertson to successfully avoid the plunge of European bonds and to withdraw safely before the plunge, keeping the annual revenue share of the Tiger Fund.

This is a very good thing for Robertson. It must be known that after exiting from the Tiger Fund in the past two years, there were no less than ten partners who opened their own new hedge funds. In the European bond crisis in 1994, this Half of the crowd is closed, compared with the current status of the Tiger Fund, how can we not make people happy.

For the little guy Chen Yuanming, if the bond crisis was just a blind cat hitting a dead rat, then at the end of 1994, his gains on international metal futures showed a surprising talent. The appreciation of aluminum futures is not surprising. The strange thing is that it can bet up to a high of 2,000 US dollars, and withdraw at the right time. In the case of copper, in the Robertson survey, the price of copper has already been manipulated. The practice of that 5% gentleman is almost known on Wall Street today. Large and small institutions started to short copper prices one after another, but Chen Yuanming was not affected by it at all. He actually went long with Bin Zhongtai Nan and made a big profit on copper futures.

For hedge funds, it's not uncommon for partners to make hundreds of millions of dollars a year. But a single speculator, who won 1 billion by betting on loans, is a very terrible thing. Therefore, after the establishment of Yuanyang Fund, Mr. Robertson took the lead in extending an olive branch to Chen Yuanming.

Faced with this kind of goodwill, Chen Yuanming is naturally impossible to reject. Due to the existence of Dianjinshi and the excessive focus on Nasdaq technology stocks, not many people pay attention to and favor him in the circle of hedge funds with financial derivatives as the mainstream. In the next few years, he will indeed A stronger ally is needed. Now that the weight in his hands is enough, it's time to do some big moves.

Taking an elegant step, Chen Yuanming walked into the luxurious and somewhat excessive hotel lobby. Without much effort, he saw the familiar figure in the center of the venue. With a slight smile, he took a glass of champagne from the waiter and did not squeeze into the circle surrounded by the crowd, but stood casually in the corner, looking at the people in the room.

This is a real "elite gathering", all of whom are familiar faces in the circle. There is no ordinary dinner star or show politician. Everyone's mouth has a haughty smile that truly belongs to Wall Street. He is personable and profound. After standing for about a quarter of an hour, I just put down my wine glass and a voice greeted me.

"Chen!" Mr. Robertson smiled, and struck meteor. When holding Chen Yuanming's right hand, a strange smile appeared in the corner of his mouth. "Have you heard? Mexico is over."

Chen Yuanming smiled and shook back, "It was expected."

Singing and harmonizing will leave many outsiders scratching their heads, but the two will know. They are talking about the recent Mexican financial crisis. On December 19, 1994, the Mexican government suddenly announced that the peso had depreciated by 15%, and the market instantly fell into chaos. A large number of foreign investors began to dump the peso and bought US dollars, resulting in a further plunge in the exchange rate. In just one month, the peso has dropped more than 50% against the US dollar, and the Mexican stock market has plummeted by more than 30%. This has further caused financial turmoil in Argentina, Brazil, Chile and other countries, and a large number of American investors have suffered severe losses. .

However, this Mexican financial crisis really has nothing to do with those macro hedging giants. After all, Mexico is the enclosure of the US financial industry. No one wants to destroy the industry they invest in. This financial crisis is purely Mexican government's misconduct in financial policy. Affected by this major mistake, many American financiers have suffered losses, and even if some hedge funds did not suffer too much because of their insurance short positions, this emergency is still not a good thing for them.

However, thousands of people suffered losses, and the two on the field were not among them. As early as December, the newly-established Yuanyang Fund established a short position of 200 million US dollars on the peso, which is not much and not eye-catching, but the profit is quite considerable. In this piece of money-losing countercurrent, it has become increasingly eye-catching . Mr. Robertson's recent concern is the trading of metal palladium, which has not done much in Mexico. Instead, he has been blessed by disaster and has avoided this trouble.

However, Chen Yuanming's acquisitive action really impressed Mr. Robertson. The only pity was that the principal was too small to capture more benefits. However, this battle was considered to have completely opened his door to the financial hunting ground, and this invitation was made.

"How's it? Withdrawing from metal futures recently, and the US government is ready to start assisting Mexico. Do you have any plans on hand?" Mr. Robertson handed over two fine-footed wine glasses and handed them to Chen Yuanming.

"No surprise, I'm going to operate metal futures again." Chen Yuanming replied very honestly, his eyes flashed similar to the other side.

"You also find something wrong in London?" The reasonable answer made Mr. Robertson very satisfied. "Are you ready to end? Park Avenue has been crowded recently."

Taking a light sip of pleasant wine, Chen Yuanming's expression on his face did not change. This is the real invitation, the opening ceremony of a hunting feast. The holders of this group of hedge funds are like a group of fierce tiger sharks. They are usually alone, but they will swarm up when they smell blood. And when this huge amount of money comes together, it is enough to subvert a country's economy. Now is the time when the **** smell begins to appear.

"If you have such a plan, I will be happy to follow up." Chen Yuanming laughed without a smile, "It just takes a specific time."

"Let's end February or early March." Robertson also laughed. "The group had to get out of the quagmire of Mexico."

auzw.com Yes, that's why it's easy to form a front. Mexico ’s financial crisis has also had a huge impact on the United States, with $ 10 billion annihilated in turmoil and $ 50 billion to stabilize the market. This sudden incident also scraped off a piece of meat from the financial giants. Now that the flesh is wasted, someone must fill it. The London futures copper, which has soared beyond a reasonable range, is an excellent prey. You have to know that since the Plaza Agreement began, the Japanese consortium has always been a fat sheep in the eyes of Americans. The existence of Binzhong Tainan has made many people look down on the eyes.

Now that the sheep has been fattened, it is natural to go out.

"What about the scale?" This is also the key point. In Chen Yuanming's memory, this tug-of-war battle lasted for a whole year, and he resisted the unimaginable fierceness. Mr. Hammer was also a stubborn opponent. Confidence in the Quantum Fund collapsed, and it was not until mid-1996 that the double-examination review in London and the United States began to fail.

"There are already six or seven of them." Mr. Robertson smiled with a bloodthirsty, "more than 10 billion can never run away."

Under the principle of leverage in the futures market, this amount of money is almost equal to hundreds of billions of dollars. In theory, it is already a very reassuring number.

Chen Yuanming smiled and raised his glass. "Together."

Two delicate and delicate wine glasses came together.

…………

"I have read the data from Mexico in the past two days. Is the situation really so serious?" Sun Guoqiang's face looked a little ugly when he put down the stack of documents in his hand.

At the beginning of this year, I will come directly to the United States. On the one hand, I will conduct a field inspection of the operation of the international futures market. On the other hand, I will directly evaluate the recent financial crisis in Mexico. There is nothing better than the information in the United States. When he got the information from Yuanyang headquarters, Sun Guoqiang's terror was beyond words.

The current Mexican crisis was entirely due to improper government regulation and over-opening of the financial market. As a result, a large amount of foreign hot money poured into the country and absorbed the existing foreign exchange reserves. As a result, the national currency could no longer lock the US dollar exchange rate. The Mexican government began. The avalanche caused by the retreat of foreign hotspots caused a scourge.

Seeing such a case, which one can be frightened. We must know that more than one or two in China are advocating the further opening of the financial market. How can those guys who are proud of the spring breeze in the financial circle foresee such a tragedy.

Sitting on the sofa, Chen Yuanming gently drank the coffee in his hand and said casually, "There are many things to learn from, not just for a moment in foreign exchange."

Yeah, in a few days, the collapse of the Bank of Bahrain will shock the world again. This purely man-made disaster, like a mirror, reflects the terrible consequences of institutional loopholes. With these two cases, I wonder if we can cool down the domestic financial market slightly?

However, this is not the focus at present. The real key is still the copper at hand. Chen Yuanming pulled the topic back, "But in Mexico, we are currently only making money without losing money, so let's knock on the regular copper operation first."

Hearing this, Sun Guoqiang raised his head, and there was a hesitation in his eyes, "Are you really planning to do this? Our results on Aluminium are also quite good. Is it too early to break into Aluminium Melee? Anymore? "

"It's not too early." Chen Yuanming smiled. "And only when cranes and mussels compete, can the fisherman profit."

(End of this chapter)

The author has something to say: I'm too sleepy to open my eyes, let's do it today, and continue to work tomorrow qaq

Thanks for the little friends, and I ’ve kissed them one by one> 3 <

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