My Age of Investment

The next day.

Abel suddenly flew to Hong Kong. As soon as he got off the plane, he went straight to the Hong Kong Island office in the International Financial Center Phase 2 Building. There was a middle-aged Asian man with him.

As soon as he walked into Xia Jingxing's office, Abel introduced the man next to him with a smile, "Darren, let me introduce you to a new investment star, Bill, the founder of Tiger Asia, the largest hedge fund in Asia."

Xia Jingxing glanced at the forty-year-old man in front of him with a big face and small eyes. The more he looked at him, the more familiar he looked. If the man cut off his long flowing hair and took off his glasses, he would look like a real Xiao Yue. Yue.

Xia Jingxing held out his hand and said, "Bill, it's nice to meet you. From your name, I know you are a big shot."

Bill shook hands with Xia Jingxing with a smile on his face, and then introduced himself in English, speaking very slowly: "Darren, I am a Korean-American. My surname is Huang. When translated into Chinese, my name is Huang Shengguo. You can call me Huang or Bill." .”

Xia Jingxing recited "Bill Huang" several times in his mind, and then he warmly greeted Bill Huang and Abel to sit on the sofa, and asked Liu Xiaoduo to make three cups of coffee, and slowly chatted with them.

"Abel just said that you are the founder of Tiger Asia. Are you..."Tiger Boy"?"

Bill Huang smiled and said: "Yes, I used to be an employee of Tiger Fund. After the fund closed in 2000, Mr. Robertson invested 20 million US dollars in me..."

Through Bill Huang's introduction, Xia Jingxing learned about the story between him and Tiger Fund.

Bill Hwang was born in a Korean pastor family. After graduating from high school in Seoul, he came to the United States to study economics at the University of California, Los Angeles. After graduating from his undergraduate degree, he went to Carnegie Mellon University to study for an MBA.

Later, he became a stock salesperson in the New York office of South Korea's Hyundai Securities. When he promoted Korean company stocks, he was appreciated by Julian Robertson, the founder of Tiger Fund, who hired him to Tiger Fund and taught him carefully.

Robertson and his Tiger Fund are a well-known legend in the hedge fund industry. The old man founded Tiger Fund in 1980 with a capital of US$8 million. In 1998, the asset management scale increased to US$21 billion, becoming the world's largest fund in the 1990s. One of the largest hedge funds.

How powerful is it? Tiger Fund’s annualized return after deducting all fees is 32%, while Soros’s Quantum Fund’s annualized return is 30%, and Buffett’s Berkshire Hathaway’s annualized return is only 20%.

However, the once-famous Tiger Fund began shorting technology stocks a year early in 1999, resulting in heavy losses. It died before the Internet bubble was burst in 2000. Robertson had no choice but to close Tiger Fund. fund.

But the old man did not choose to withdraw from the world. On the one hand, he used his family funds to continue investing, and on the other hand, he invested in new funds established by former employees of Tiger Fund, such as Tiger Global, Tiger Asia...

According to statistics, employees who have worked at Tiger Fund have established 73 hedge fund companies, which can be called the Whampoa Military Academy in the hedge fund world. 38 of them have also received investment from Robertson. These new funds hatched by Tiger Fund, People in the world of martial arts call him "Tiger Boy".

As soon as he heard that he was from the Tiger Boys, his peers in the financial industry would immediately look up at him because he was so bright and his success rate was so high.

After listening carefully to Bill Huang's introduction, Xia Jingxing nodded secretly. This Korean did not discredit his teacher.

In 2001, he started his own hedge fund with a $20 million seed investment from Robertson. The fund is headquartered in New York, but it mainly invests in Asian markets.

Today, this fund named Tiger Asia has reached an asset management scale of US$5 billion, which is considered a medium-to-large fund.

And last year, the annualized rate of return of the entire fund reached 55%. Extended to a seven-year duration, the average annualized rate of return also reached 40.4%, which is very impressive.

"Bill, are you coming to Hong Kong to inspect the market?"

Bill Huang nodded towards Xia Jingxing, "Yes, I am very optimistic about the Hong Kong stock market and plan to set up an office here to invest in Hong Kong stocks nearby."

Abel on the side continued: "I met Bill at a financial party in New York before, and I happened to bump into him on the plane this time, so we chatted together.

He heard that you were in Hong Kong and came here to visit you. "

Bill Huang nodded heavily, and then looked at Xia Jingxing with a sincere face, "Yes, Darren, you are the best yellow man in finance. I really hope to get to know you. If I can talk to you about investments again, that would be my pleasure." It’s an honor.”

Xia Jingxing laughed, did he have a little fanboy?

However, he did not believe that Bill Huang simply wanted to get to know him.

"Bill, you are also a very good fund manager. If you are based in Hong Kong in the future, we can have a party together."

Bill Huang's face was full of joy, "Really? This is great! Thank you, Darren."

Xia Jingxing did not ask Bill Huang what he planned to do in Hong Kong. He chatted happily with him until noon, exchanged each other's investment ideas, and finally had lunch together before saying goodbye to each other.

When they parted, Bill Huang also invited Xia Jingxing to attend the opening party of Tiger Asia's Hong Kong office, and Xia Jingxing wholeheartedly agreed.

After returning to the office, Xia Jingxing asked Abel for more information.

“You want Daxue II Hedge Fund of Funds to invest in Bill Huang’s Tiger Asia Fund?”

Abel grinned, as if he couldn't hide anything from you.

Xia Jingxing was silent. He was most familiar with the Tiger Zai series of funds, Tiger Global. This company not only has hedge funds, but also equity investment funds, and has invested in many domestic unicorn companies, such as ByteDance.

But Tiger Asia was not very clear to him, and his impression of Bill Huang was limited to the fact that he looked like Xiao Yueyue.

He could feel that this person was very low-key, because the fund had reached a scale of 5 billion US dollars, but he still looked a little unknown. At first glance, he was an investor of the ascetic sect.

This is actually normal. People who work in finance like to keep a low profile because it is more advantageous when trading! People like Soros and Paulson have no choice but to enter the village in a low-key manner.

Judging from Bill Huang's record in the past seven years, he is an investment master with strong ability and vision.

Xia Jingxing thought about it carefully and decided not to interfere too much in Abel's management of the fund of funds and asked, "How much do you plan to invest in him?"

"Not much, invest $100 million."

Abel counted on his fingers, "The fund of funds only has 500 million U.S. dollars. Although Bill Huang's past performance is good, we can't invest all the money in him. 20% of the position is almost enough.

In addition, our parent fund has also invested in a series of sub-funds such as Greenlight Capital and Global Investment.

Oh, by the way, we will invest another US$20 million in Snow Lake Capital that you introduced to Darren.

I came to Hong Kong just to meet the young man you mentioned - Ma.

If he is really good, you can invest several times more money in him. "

Xia Jingxing smiled, "Ma" was Ma's own name, a young man introduced by Zhang Sanshi who wanted to start a business in the hedge fund field.

Xia Jingxing knew that this young man had potential, but he was not sure what performance Xuehu Capital could achieve in the first few years since its establishment.

If you don't use your own personal funds to practice for the other party, then you can only let the fund of funds managed by Abel serve as a guinea pig.

Fortunately, US$20 million is not much, and if it is messed up, it will not have much impact on the overall performance of the fund of funds.

The fund of funds business was originally an experimental business of Vision Capital, and even Xia Jingxing himself was mentally prepared to lose money, lose his reputation, and fail on his first debut.

Thinking of this, Xia Jingxing stopped thinking and replied: "As I said before, it's all up to you to decide, and you will bear the consequences whether you make a loss or a profit.

Ma Ziming's $20 million investment was requested by me and does not need to be included in your assessment. "

When he heard the word "assessment," Abel's face suddenly froze, and then his whole body quickly relaxed again.

Bill Huang's skills are definitely not bad, and the boss himself said that no one named Bill is simple.

Thinking of this, Abel felt that if he got closer to Bill Huang in the future, his hope of rising in the future might fall on this man.