My Age of Investment

Xia Jingxing held his chin and looked thoughtful.

He could more or less guess what Gates was thinking. Don't look at the oil pipeline on the left that cannot survive independently, but everyone on the other side invests together to support the oil pipeline. In the final analysis, the other party just wants to unwind the investment of more than 600 million US dollars in the oil pipeline.

Rather than spending billions or tens of billions of dollars to explore the risky path of independent survival of the oil pipeline, it would be better to exchange for shares of Facebook's listed company.

Facebook is now in good financial condition and has actually met the conditions for listing. However, it happened to encounter the subprime mortgage crisis, which delayed the pace of listing.

"How about it?"

Gates lowered his voice a little: "If you are worried about transaction review and approval, I can help do some work."

Xia Jingxing chuckled. He was actually not very worried about the problem Gates mentioned.

Whether YouTube should return to the embrace of Facebook is no longer very important to him.

Anyway, he is just an idle shareholder now, and the control of the company is no longer in his hands.

But then he thought, if YouTube can return to the Facebook system, it will actually widen Facebook's moat. When YouTube becomes completely profitable, not only will it not become a burden, but it will also significantly increase Facebook's market value.

In this case, as a shareholder with a relatively high shareholding ratio, he can directly benefit from the capital level.

The original reason for choosing to split the oil pipeline was to avoid the risk of infringement and to reduce the burden on Facebook and create listing opportunities.

"This issue needs to be discussed with Kristina, Xiao Quan and other shareholders and listen to their opinions."

Gates smiled slightly, "Of course, this is an essential procedure.

However, you are the largest shareholder of both companies, and your opinion is critical. "

Xia Jingxing had a headache. It seemed that Gates wanted to make a statement today.

“In principle, I agree, but it’s too early to talk about it now.

On the one hand, Facebook has not yet been listed on the market, and on the other hand, I don’t know what the future development of YouTube will be. "

Gates said in a joking tone: "As long as you say this, otherwise I will not dare to participate in the next investment in YouTube."

Xia Jingxing had a faint smile on his face and didn't answer.

He knew that Gates should be serious about what he said, but the other party was timid and a little afraid to play with him.

He now has the ability to support the oil pipe independently, but he doesn't want to use his own money to support it.

First, his holdings in YouTube are already high enough and he will have trouble exiting in the future;

Secondly, the valuation of oil pipelines is already very high and the return on investment is limited. If you raise a new PE fund to invest in oil pipelines, you can still consider it.

Gates stopped talking and said no more. He knew that Darren was a smart man and should understand what he meant.

…………

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Envision Capital, Clary Capital, and Paulson Funds held parties to thank LPs one after another, and PY conducted a wave of transactions.

Soon, these LPs who controlled the upper-level resources of the United States showed their own power.

The voices in the market that slandered and denounced the big short sellers on Wall Street gradually disappeared.

Even if there are some discussions in private, they are limited to a small area. At most, they can only curse Paulson a few times, which is insignificant.

In order to restore his public image, Paulson took the lead in donating a huge sum of money-$15 million to a research organization called the "Center for Reliable Lending" to provide legal assistance to families who are unable to pay their mortgages.

This move somewhat saved Paulson's bad public image. However, many people felt that it was hypocritical. He made 3.7 billion US dollars, but ended up donating 15 million US dollars. It may have cost more than this amount to litigate his mother.

Clary Capital followed Paulson and donated $10 million to a social organization that focuses on homeless people. In the words of Peter Thiel, it is not good to steal the spotlight from Paulson, the number one hedge funder.

After donating such a small amount of money, Peter Thiel was too embarrassed to ask Xia Jingxing to bear half of the amount.

However, Xia Jingxing still followed the Romans and donated US$5 million, which was only a drop in the bucket compared to the profit.

The incident gradually subsided, and people's memories of most short sellers will be diluted by time, but Paulson is probably in doubt as to who made him the most money.

In addition, the famous Jewish economist and former Federal Reserve Chairman Alan Greenspan, who served for six terms as President of the United States, announced that he would join the Paulson Institute and become the company's economic advisor. This attracted countless attention and once again attracted public attention to Paulson. There is a lot of talk about the Erson Fund.

Because during Greenspan's tenure as chairman of the Federal Reserve, it was the old man's overly loose monetary policy that spawned the housing market bubble, and the Paulson Institute happened to be the biggest beneficiary of this housing market bubble.

At the same time, the last hedge fund that the old man served as a consultant last year, Pacific Fund, also made a lot of money last year by shorting subprime mortgage derivatives.

No matter how much the American people scold him, Mr. Ge has happily taken office anyway. When interviewed, he also called Paulson Funds the world's leading hedge fund and also praised Paulson personally.

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"Lehman Brothers, average price $60.05, 2.5 million shares short."

"Bear Stearns, average price of $74.44, 500,000 shares short."

"Citibank, average price $49.06, short 5 million shares."

"Merrill Lynch, average price $49.45, short 1 million shares."

"Bank of America, average price $38.5, short 8 million shares."

"AIG Group, average price of $57.91, 2.5 million shares short."

"JP Morgan, average price $45.72, short 3 million shares."

"Morgan Stanley, average price $47.39, short 4 million shares."

"Wells Fargo, average price $28.21, 4 million shares short."

"Wachovia Bank, average price $37.65, short 500,000 shares."

…

Looking at the printed document on the table, Blankfein scratched his bald head.

"It's really cruel! The four major investment banks and the five major banks in the United States, plus AIG, the world's largest insurance group, are all here."

Fabrice Torre, vice president of Goldman Sachs, sitting opposite Blankfein, spread his hands and said, "Obviously everyone has misunderstood Paulson. There is no doubt that this guy is the biggest short seller."

Blankfein nodded, "He is very pessimistic about the economic situation after the subprime mortgage crisis, and he is certain that financial stocks will be the hardest hit.

I just didn't expect that he would be so ruthless that he wouldn't even let his old friend Morgan Stanley go. "

Having said this, Blankfein glanced at the direct subordinate in front of him with a half-smile, "Do you think he is shorting Goldman Sachs?"

Fabrice was stunned for a moment, and then reacted, "You mean...we are shorting Morgan Stanley, and Morgan Stanley is shorting us?"

Blankfein smiled slightly, said nothing, and acted very calmly.

But the younger Fabrice, only 29 years old, behaved differently. He said angrily: "How could he do this? Does he treat us as fools?"

Blankfein waved his hand gently, "It doesn't have to be like this. Short selling is inherently market behavior. If the time comes, I would like to design some Goldman Sachs put options and sell them."

Fabrice was stunned, what kind of tricks are these?

Blankfein laughed loudly, "You are still young and don't understand many things. I really appreciate a Chinese saying that Darren often talks about, which is called "Follow the trend."

The old man first said the idiom in Chinese and then explained it again in English.

Fabrice was still confused, but Blankfein had already begun to chase people away, "Go ahead and find some rivals for our big clients.

Without sufficient trading volume, our VIP customers would not dare to short-sell on a large scale for fear of breaking down the stock price. "

Fabrice nodded, got up and went out.

Blankfein held the document in his hand and sighed in his heart. There are talented people in this generation!

On the other side, Mai Jinheng also received the same document report.

The content is generally consistent with the document in Blankfein's hands. The biggest difference is that the Morgan Stanley column has been replaced by Goldman Sachs.

"Goldman Sachs, average price of $198.87, short 1 million shares."

Seeing this, Mai Jinheng chuckled. He was not stupid. All the financial giants in the United States were here neatly. How could they miss Morgan Stanley?

It's just that I can only pretend to be deaf and dumb, after all, business has to go on.