My Age of Investment

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New York.

A smoke-filled room was filled with financial tycoons in suits and leather shoes. Without exception, all of them were old white men.

One of them, a fat middle-aged white man with a slight balding head, took down the cigar in his mouth, spread his hands and said: "You must have heard about it. Just a few days ago, an unprecedented and premeditated incident occurred on the Chicago Mercantile Exchange. long massacre.

Our Jewish capital has suffered heavy losses in this financial game.

Many people have accumulated wealth and careers for decades, only to be completely wiped out. "

Dozens of pairs of eyes were all staring at the fat man who was speaking.

The fat man suddenly laughed self-deprecatingly, "Since when did our Jewish capital become like fish on the chopping board, ready to be slaughtered by others?"

Someone asked: "Cohen, what exactly do you want to say?"

After the fat man glanced at everyone present, he said coldly: "What do I want to say? I want to say that Jewish capital is being targeted!"

As soon as these words came out, people started to respond immediately.

"Cohen is right, this is clearly a trap targeting Jewish capital."

"Not only did SAC Capital suffer huge losses in the index futures market, but our WisdomTree investment also suffered serious losses."

"Our Rothschild family fund also suffered a lot of losses."

…

Seeing that everyone started to complain enthusiastically, the fat man named Cohen continued: "In January last year, Goldman Sachs and Morgan Stanley chose to short the three major U.S. stock indexes.

100,000 S\u0026P 500 index futures forward contracts, more than 60,000 Nasdaq index futures forward contracts, more than 130,000 Dow Jones index futures forward contracts...

These nearly 200,000 futures contracts established a total short position of US$70 billion.

What is this concept? Do you think this was done by the investment bank’s own capital trading department? "

After speaking, Cohen turned his attention to the silent old bald white man sitting next to him - Henry Paulson.

Others are also looking at this former Goldman Sachs CEO who has the same surname as hedge fund tycoon Paulson and is about to step down as Treasury Secretary.

Seeing so many people looking at him expectantly, Paulson felt that if he didn't say something, it might be a bit unreasonable.

He coughed and said: "In short, during my tenure, Goldman Sachs has never used tens of billions of dollars to bet on the same target in one direction.

As for whether Blankfein is so courageous, I don't know. "

Cohen smiled. Paulson was still hesitant, but he already got the answer he wanted.

"In fact, you don't need to think about it to know that Goldman Sachs and Morgan Stanley are just helping their clients attract outside attention, and the real short sellers are others."

Everyone nodded, expressing their approval of Cohen's statement.

They are all veterans who have been involved in the financial capital market for decades. It is impossible not to see this.

"Someone has made more than 10 billion US dollars from our Jewish capital. If we don't even know who that person is, it will be a joke."

As soon as Cohen finished speaking, Paulson was surprised: "More than 10 billion US dollars? So much loss?"

Cohen didn't say anything. He threw the file bag on the table to Paulson and motioned for him to open it and take a look.

Paulson opened the document bag and looked at it.

Underlying holding: S\u0026P 500 Index forward futures contract

Contract period: December

Settlement point: 1400 points

Spot point: 805.22 points

Contract multiplier: 250

Contract quantity: 5,000 (lots)

Profit and loss/cash settlement spread: (805.22-1400)×250×5000=-743475000 (USD)

…

Holding target: Nasdaq index forward futures contract

Contract period: December

Settlement point: 2602.68 points

Spot point: 1440.86 points

Contract multiplier: 100

Contract quantity: 3000 (lots)

Profit and loss: -$348,546,000

…

Holding target: Dow Jones Index forward futures contract

Contract period: December

Settlement point: 12800.18 points

Spot point: 7949.09 points

Contract multiplier: 10

Contract quantity: 7,000 (lots)

Profit and loss: -$339,576,300

…

Paulson scanned it roughly, then raised his head and frowned and asked, "A total loss of more than 1.43 billion US dollars?"

Cohen said calmly: "Yes, this lesson is something I will never forget! I started working in financial investment in 1978. In my thirty-year career, I have never suffered such a big loss!"

Hearing this, everyone around looked at Cohen.

Cohen is a legendary figure among their Jewish financiers. He is talented and is also a poker master. When he was in middle school, he won 500-1,000 US dollars every day playing cards. Cohen even quit his part-time job as a supermarket fruit salesman. Now, consider playing poker as a part-time job.

After graduating from the Wharton School of Economics, Cohen joined a small Wall Street investment bank as a trader, and then started making money for the company from the first day on the job, and soon became a ruthless money-making machine.

A few years later, Cohen reached an agreement with the company to establish his own business unit and receive 60% of the share and the right to recruit employees independently.

After finishing borrowing money to lay eggs, Cohen left his job within a few years and founded Seck Capital. The excess income share charged to LPs reached an astonishing 50%. In other words, he required that he split the income with his clients in half, and the risk was determined by Customer's responsibility.

Even with such harsh conditions, SEC Capital still attracted a large amount of investment with its amazing performance.

From the company's establishment in 1992 to today, Seck Capital's average annual return rate exceeds 30%, and it is known as the craziest "money-making machine" on Wall Street.

Founder Steven Cohen also earned the nickname "Jaws".

In the American TV series "Billions", the villain financial tycoon Bobby, who confronts the prosecutors tit-for-tat, was created based on Cohen.

In 2006, the Wall Street Journal named Cohen the "King of Hedge Funds" that year.

In 2007, "Time" magazine selected Cohen as the 94th among the 100 most influential people in the world that year.

Paulson laughed: "A loss of US$1.4 billion is an astronomical figure to others, but to you, Cohen, it is only a fraction of your US$11.4 billion worth.

Oh, by the way, it’s the LP’s money that’s being lost, not your money. "

Cohen said with a serious expression: "Henry, this joke is not funny at all.

Seck Capital's assets under management are only US$14 billion. This investment caused us to shrink by 10% of our assets.

This resulted in SEC Capital's return on investment last year being ugly and setting a record for us. "

Paulson smiled. Perhaps he was worried that the performance would deteriorate and it would be difficult to maintain the 50% excess income sharing, right?

Paulson didn't bother to point it out and just quietly watched.

After Cohen took the lead in announcing his losses, other Jewish capitals also began to pour out their sorrows, ranging from losses of hundreds of millions of dollars to close to Seck Capital's loss of $1.4 billion.

"The combined losses totaled $14 billion," Cohen said.

Such a terrifying figure is still not the entire profit of the mysterious short seller, but only half of their total profit.

Is there anything you want to say? "

Hearing that the mysterious short seller had made nearly 30 billion U.S. dollars in one battle, the Jewish financial tycoons present were angry and envious.

As the most successful handful of financial investors in the world, when have they, the Jews, ever suffered such a big loss?

Soon, someone said coldly: "Find out who he is, and we will complete our revenge!"

"Yes, we can't swallow this breath like this. We must do what is written in the Old Testament, an eye for an eye and a tooth for a tooth."

"This time it just happened to catch up with the financial crisis and let the mysterious person take advantage of it! When it comes to finance, we Jews have never been afraid of anyone."

…

Cohen looked at the angry crowd and felt very satisfied. He said loudly: "Okay, let's formally unite our opinions now. Next, we will dig deep to find the mysterious man! Then complete our revenge!"

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