My Age of Investment

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Colleagues from other Envision Capital offices around the world reported their results one by one, and it was finally the turn of the New York office.

Liu Hai and Jiang Ping declined each other. Abel couldn't stand it anymore and said, "I'll be your chief reporter. Mine is shorter."

Xia Jingxing couldn't help but joked: "Abel, a man can't say he's short."

All the men present burst out laughing, and the only woman, Ye Shuhui, didn't feel any embarrassment and burst out laughing.

In fact, no one looked at this woman with oily hair and beach shorts as a woman.

“The Daxue No. 2 hedge fund of funds that I manage has invested US$500 million in several external sub-fund managers such as Tiger Asia, Gao Ling Capital, Snow Lake Capital, Greenlight Capital, and Global Investment.

Based on their disclosures, our $500 million has now become $1 billion. "

Abel looked a little downcast. Their net profit of US$500 million was not bad compared to other companies, but compared with his colleagues around him, it was simply unsightly.

Xia Jingxing smiled and encouraged: "That's great! Abel, this is your first year in charge of the fund of funds. Not only has the size of the fund doubled, but you have also found several excellent external fund managers.

This shows that our fund of funds operation exploration model has achieved initial success, and in the future we will raise billions or even tens of billions of dollars in fund of funds. "

Hearing what his boss said, Abel felt relieved and immediately became determined to win.

Although I started a little late, I will work steadily and step by step, and I may have the opportunity to create tens of billions of dollars in profits in the future.

"I'll do it, and you'll be the last to win!"

Liu Hai glanced at Jiang Ping and then reported: "Our team mainly shorts individual stocks and options in the US stock market.

Among them, US$14 billion was shorted on individual stocks, resulting in a net profit of US$9.6 billion.

Another US$6 billion was shorted on individual stock options, resulting in a net profit of US$19.8 billion. "

Xia Jingxing nodded gently. The contribution of Liu Hai's team was not small this time, creating a profit of nearly 30 billion US dollars with a principal of 20 billion US dollars.

It is a little regrettable that the net profit did not exceed US$30 billion.

If nothing went wrong with Wells Fargo, it might have been a successful breakthrough.

Last year, Liu Hai’s team created a net profit of nearly US$14 billion.

Last month, when the last $5 billion of options contracts held were delivered, more than $15 billion was recorded, including nearly $4 billion contributed by Buffett.

Jiang Ping, who finally made his appearance, said with a calm expression: "Of the US$20 billion investment portfolio held by our team, US$14 billion has been invested in the three major stock index futures, and US$6 billion has been invested in triple short ETF funds, ETF fund put options, and VIX and other financial derivatives.

100,000 S\u0026P 500 Index futures contracts, net profit was US$14.8695 billion.

There were 67,238 Nasdaq index futures contracts, with a net profit of US$7.81184532 billion.

136,717 Dow Jones Index futures contracts, with a net profit of US$6.63226432 billion...

…”

Everyone was completely shocked. Did they memorize all the decimal points of the financial report?

Xia Jingxing was also a little surprised. Even if he is good at mathematics, he can't be so good at it, right?

Jiang Ping said with a smile: "In total, the net profit of the three major stock index futures is 29.3136096 billion U.S. dollars, and the net profit of other financial derivatives is 8.31172484 billion U.S. dollars."

Xia Jingxing and others directly skipped the decimal point and calculated the entire net profit of Liu Hai's team.

$37.6 billion!

The number one brother of Vision Capital is well-deserved!

Abel gave Jiang Ping a thumbs up. He was completely convinced of Brother Yi.

Last month, there was a lot of speculation about the identity of the mysterious hedge fund that made $30 billion in profits, and at the same time, there was also speculation about the fund's operator.

Paulson, the big sky god, and Peter Thiel, the little sky god, are far worse than Peter Jiang.

Xia Jingxing was lamenting the wonder of fate.

If he hadn't appeared, Jiang Ping would have been working for Cohen's Seck Capital at this time.

In this life, Jiang Ping cut off Cohen's leeks.

Li Yaozu and Liu Hai looked a little gloomy. The teams they led had both earned nearly US$30 billion in profits for the company.

Such a terrifying profit was still missed by Brother Yi. It can only be said that the company was too deeply involved.

Jiang Ping said with a smile: “Everyone’s financial markets and trading types are different, so we have taken some advantage.

The TRS tools provided by Goldman Sachs and Morgan Stanley come with 3x leverage, and the Chicago Board of Exchange's futures contracts are traded on margin, providing us with 5x leverage.

Multiplying the two numbers together, the leverage reaches a total of 15 times, which is something that the stock market cannot provide. "

Upon hearing this, several fund managers felt relieved.

The rise and fall of the index is relatively small. It usually rises or falls by one or two points every day, or even a few tenths. Only in super extreme market conditions, such as the outbreak of the financial crisis last year, will there be a drop of more than double digits.

Therefore, index futures can provide much higher leverage than the stock market.

But then again, the index reflects the overall trend of the market. From last year to now, the cumulative one-year decline of the three major stock indexes has been about 40%.

Individual stocks such as Citigroup and Lehman Brothers fell by an astonishing 90%.

A large leverage ratio is an advantage, but it does not mean that Jiang Ping will win.

Jiang Ping continued: “In addition, Xiaoman No. 1’s asset management scale has increased from US$1.8 billion last year to US$4 billion;

Xiaoman No. 2’s asset management scale has grown from US$1 billion last year to US$2.5 billion. "

Xia Jingxing smiled and said, "Very good. It seems that while your team is busy with the main work, the management of the Exchange Fund has not been delayed."

These two funds are the only funds under Vision Capital other than the mainland securities investment funds that do not participate in short-selling stocks and stock indexes in various countries.

In fact, it can be considered as participating in short selling, but the trading type of short selling is foreign exchange.

Thanks to the financial crisis, the foreign exchange market fluctuated greatly last year, which gave Jiang Ping's team an opportunity to make a fortune.

Usually when the foreign exchange market is not volatile, Jiang Ping's team can create a rate of return of 50%-100%. Last year's rate of return doubled compared to normal years.

When everyone heard Jiang Ping's words, they bowed in admiration again.

Counting the US$3.7 billion in gains from the foreign exchange market, Jiang Ping's team created a total of US$41.3 billion in net income last year.

This number is extremely terrifying, directly exceeding the Paulson Fund’s asset management scale of US$36 billion.

Abel counted with his fingers and said in surprise: "Mainland China has a profit of nearly 2 billion U.S. dollars, Hong Kong Island has 8 billion U.S. dollars, Europe has 29 billion U.S. dollars, Liu Hai's team has 29.4 billion U.S. dollars, Jiang Ping's team has 41.3 billion U.S. dollars, our team has 500 million U.S. dollars...

Last year, Envision Capital created a total net income of US$110.2 billion! "

After hearing the number reported by Abel, everyone felt as if they had fallen into a dream.

Xia Jingxing's mind was also deeply attracted.

However, he already knew the approximate figure, and his expression soon returned to normal, and he corrected: "The mainland team's profit was from 2006 to 2007."

"After deducting US$2 billion, there is still US$108.2 billion left!"

While talking, Abel pinched himself and realized that he was not dreaming, but the real world.

"Absolutely. We shorted the whole world and cut off hundreds of banks, hedge funds and investment banks around the world. Even Jewish capital lost more than 10 billion US dollars. It is said that Buffett also lost four dollars. Five billion dollars.”

After hearing the data reported by Xia Jingxing, everyone nodded, gaining an additional understanding of the achievement of achieving a return of hundreds of billions of dollars.

This number seems huge, but in fact it was earned through investment after investment, and it moved to the global market, wiping out the savings of many institutions for decades.

It can be said that every penny earned contains the blood and tears of other institutions.

If all this were announced, I'm afraid they would be attacked by a group of people!

Thinking of this, Liu Hai shuddered, feeling both excited and nervous, and said: "Last year, our hedge fund had reached an asset management scale of approximately US$32 billion.

If we add last year's profit of US$108.2 billion, wouldn't it mean that the scale of asset management has exceeded US$140 billion? Reached the top of the world? "

At present, neither Bridgewater Associates nor Renaissance Technologies has exceeded the asset management scale of US$100 billion. Envision Capital is indeed the first hedge fund to achieve this great milestone.

Xia Jingxing was also very happy about this.

But now that the happiness is over, it’s time to solve the happy and annoying problems.

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