My Age of Investment

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After quickly sorting out his mood, Jiang Ping continued to report on his work as usual.

“From January to now, the three major indexes have fallen for two consecutive months.

While our team was raising new funds, we also did not give up tracking and researching the three major stock indexes.

We judge that it is the end!

As various companies released last year's annual reports one after another, all the bad news had been released, and U.S. stocks soon rebounded.

The opinion of our team is to go long on the backhand along the same lines as last year.

Last year I bought three times short ETFs and this year I bought three times long ETFs.

Last year I sold short stock index futures and this year I went long.

The financial instruments used are the same, but the investment directions are completely opposite. "

Seeing Jiang Ping acting like he was fine so quickly, the executives at the meeting were secretly amazed. .

Looking at the boss again, a smile finally appeared on his face, as if he was saying that this is the way to go and to always maintain an enterprising spirit.

"Have you contacted Goldman Sachs and Morgan Stanley? Are they still willing to provide us with leverage?"

More leverage?

The executives had strange expressions on their faces. They knew why their boss was nicknamed "The Whale" on Wall Street.

Jiang Ping nodded and said: "We have been contacted and they agreed to continue signing a total revenue swap agreement with us.

However, from last year to now, the hedge fund industry has suffered a devastating blow.

Countless hedge funds were liquidated and chose to withdraw from the arena.

If we want to accumulate enough long positions, we must have enough institutions to compete with us.

At this stage, I am afraid that few people will choose to short the stock index.

What's more, they choose to respond to the call of the government, the market, and Buffett, and join the market to hunt for the bottom. "

Xia Jingxing nodded lightly and sighed in his heart. Jiang Ping was telling the truth. It would indeed be difficult to replicate last year's revenue miracle.

At this stage, apart from hearing that Peter Thiel planned to short U.S. stocks, he had indeed not heard of anyone else having the guts to do so.

"What's your opinion?" Xia Jingxing looked at Jiang Ping.

“Because financial derivatives cannot match enough counterparties, they can only be reduced to auxiliary long tools in investment portfolios.

The main focus is still on investing in the individual stock market!

Financial stocks, in particular, suffered heavy losses last year. If they rebound this year, they will definitely be the sectors with the biggest gains. "

Speaking of this, Jiang Ping used the PPT controller to call up another set of pictures, pointed at it and said: "This is the stock price chart of Citibank. The stock price fell from US$50 at the beginning of last year to US$20 when Lehman collapsed. Since then, All the way down.

Three days ago, the stock price hit a record low, falling below $1 and as low as $0.97. "

Xia Jingxing looked at the downward K-line chart of Citibank on the screen and said with a smile: "Many people who want to buy the bottom should be frightened by Citibank's stock price performance."

Jiang Ping replied: “In September and October last year, a group of people who were looking forward to the government’s bailout rushed in and bought Citibank at the bottom of $20.

After that, as Citibank's stock price continued to fall, some people entered the market.

Now that it has fallen below $1, no one dares to enter the market. "

Xia Jingxing couldn't help but think of his old friend Peter Thiel. This guy started buying the bottom of US stocks last year.

Because the bargain hunting failed, I started shorting again not long ago.

Seeing that the other party had transferred 10 billion US dollars of assets to Envision Capital Management, Xia Jingxing gave him a few kind reminders.

But Peter Thiel has gone crazy and is determined to make a last ditch effort.

If you lose, you quit the hedge fund world, and if you win, you make a comeback.

It was hard to persuade the damn ghost with good words, so Xia Jingxing had no choice but to let it go.

"No problem. The newly raised funds total 35 billion US dollars. After adding leverage, all the funds of more than 100 billion US dollars can be used to hunt for bargains.

Don’t wait any longer, enter now! "

After receiving the final authorization from Xia Jingxing, Jiang Ping also managed a smile.

He had just been criticized by Xia Jingxing, which made him feel quite embarrassed at first.

But after careful reflection, he found that he did have a problem, and it was a big problem.

As a fund manager who has earned more than 40 billion US dollars, ordinary investments of hundreds of millions or billions of dollars seem to have lost much interest in him.

The counterparty is even more like a fool. All he needs to do is dig a hole and wait for people to jump in.

There are many similar questions, but they can be summed up in one sentence: underestimate the heroes of the world.

If Xia Jingxing didn't point out this change, he wouldn't even notice it himself.

What he is most worried about now is that the various middle-level employees and trading teams below will not have similar ideas, right?

A word suddenly popped up in his mind, what goes up works but what works down!

Even as a leader, I look down on all of my counterparties. How can I expect the lower level to take their opponents seriously?

This kind of contempt for counterparties is concretely reflected in work. It may be that a report that should have been investigated for a month was written by analysts in a few days.

Then the report was submitted to the middle-level leaders. They felt that the problem was not big and were too lazy to verify and modify it, so they submitted it directly to themselves.

And he was also careless and directly quoted the data and conclusions in the report to form investment decisions, which ultimately caused the company to suffer huge losses.

Jiang Ping shuddered when he thought about this kind of top-down negligence.

Therefore, Xia Jingxing now leads by example and criticizes him, and he has a little more understanding and different feelings.

There is nothing trivial about trading, it is easy to make money and even easier to lose money.

Xia Jingxing didn't care what Jiang Ping thought. If an employee couldn't even accept the boss's correct criticism, it wasn't worth his efforts to enlighten him.

"Our team also chose to continue to implement the stock strategy, focusing on making multiple stocks."

Seeing Xia Jingxing glance over, Liu Hai hurriedly reported the matter.

As the person Xia Jingxing single-handedly supported, Liu Hai has always been very humble and cautious.

He knew that his talents were not as good as Jiang Ping's, or even those of Li Yaozu and Ye Shuhui who joined later.

Jiang Ping was already a star trader at Lehman Brothers before joining Vision Capital.

And he is just a low-level securities broker who graduated from a second-rate university.

Being able to have his current high position and wealth has always made him feel quite scared, and it also felt unreal.

In order to repay Xia Jingxing, and to make himself feel at ease, he worked hard to learn and improve himself, and at the same time, he had a meticulous attitude towards all the work he handled, for fear that something would go wrong.

Xia Jingxing nodded towards Liu Hai. Although the latter was not very talented, he still had no problem doing some stupid work.

What is stupid work?

Just buy some stocks of Amazon, Google, and Netflix. If the stock prices fall, continue to buy them, reduce the cost of holding positions, and make long-term value investments.

Although Liu Hai also went for a walk in the individual stock options market last year and made a lot of money, he mainly relied on the general trend.

If it were normal times and the market was volatile, Xia Jingxing was really worried that Liu Hai would not be able to play well.

However, Liu Hai has been practicing on Wall Street for so many years, and his skills have improved a lot.

The work assigned to Liu Hai has basically been completed up to standard. The other person who serves as the head of the stock department is qualified and competent when it comes to stock trading.

It might be a bit difficult for him to perform any amazing operations.

But this is not only a shortcoming of bangs, but also a major advantage.

If a person's ability is not that strong, he will not be overconfident.

In the future, Xia Jingxing plans to hand over the management of the family office to Liu Hai. The most important requirement for the person in charge is loyalty.

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