My Age of Investment

“Since the outbreak of the financial crisis, the U.S. financial market has been wailing, with individual stocks and the three major stock indexes all falling into the dust.

Taking the Dow Jones Index as an example, it fell to 6,440 points in early March last year, setting a new low in the past decade.

We then entered the market to go long and bought a large number of stock index futures, stock index call options, and related derivatives.

Darren, look here..."

Jiang Ping, who was standing on the stage, paused for a moment, then illuminated the K-line chart on the projection wall with a laser pointer, pointed at a certain location and introduced: "Last month, that is, in the middle of January 2010, the Dow Jones Index After nine months of retaliatory rebound, it finally reached 10,000 points, reaching 10,767 points, with a nine-month increase of 67.19%."

Xia Jingxing, who was sitting quietly listening in the audience, had a smile on his face. The rebound of US stocks and indexes has really enriched Vision Capital.

It is a little regrettable that after completing this wave of closing, the subprime mortgage crisis trilogy has officially ended.

Looking back at the investment trends in the past few years, it can be roughly divided into the layout in 2006, shorting subprime loan bonds in 2007, shorting financial stocks and stock indexes in 2008, and going long in 2009, betting that the market will recover...

It took Envision Capital nearly four years to seize wealth comparable to the annual GDP of many small and even medium-sized countries in the world.

A small overlord in Southeast Asia, known as the world's third military power, had a total GDP of only US$106 billion last year.

Therefore, Xia Jingxing is very satisfied with the performance of Envision Capital, an extremely powerful engine. The huge gains in the financial market have strongly supported his large-scale industrial mergers and acquisitions and technological research and development at home and abroad.

All allies of the United States are also very satisfied with the success of Vision Capital in recent years. For the sake of huge returns, they have helped him resist many overt and covert attacks.

Understanding the rules of the game and being willing to share is the underlying logic that enables Vision Capital to remain on Wall Street.

After listening to Jiang Ping's introduction for a while, Xia Jingxing felt a little numb. The latter finally summarized: "Because there are too few opponents, most of our team's investment portfolio consists of stock index futures and small-cap stocks." Some ETF funds and call options, and some funds are not fully utilized."

Xia Jingxing nodded lightly, whether you are short or long, you need an opponent to play with you.

Fortunately, in the first two years, there was no shortage of courageous big dogs. Even Buffett was cut off once and became a "Ba Leete".

Also cut off with the old man was the Jewish Capital Group. It was also because of this incident that Vision Capital came into the sight of Jewish Capital and became a thorn in the other side's side.

After the financial crisis, starting last year, not many people dared to play dangerous and exciting gambling games.

Even if they play at the end of the game, they are mostly like Vision Capital, choosing to buy the dip and go long.

Due to the lack of short positions, it has become very difficult for Vision Capital to replicate the miracle of the previous year in investment in derivatives such as stock index futures and options.

Jiang Ping paused, sighed and said: "Because of this series of reasons, despite the sharp rebound in the stock index, our investment returns on the stock index are also very limited.

With a principal of US$10 billion, a total net income of only US$8.6 billion was achieved. "

Seeing that Jiang Ping seemed a little dissatisfied, Xia Jingxing couldn't help but smile. He was right. The year before last, Jiang Ping's team had made more than 30 billion US dollars by shorting the stock index. Their appetite had been developed. The net income of 8.6 billion US dollars was only higher than the 37.6 billion US dollars in net income the year before. It's just a little more than a fraction.

"Okay, okay, stop showing off here. I'm used to living a good life. I don't even care about US$8.6 billion anymore."

As soon as Xia Jingxing finished speaking, Liu Hai and Abel both laughed, and Jiang Ping also laughed.

“The market in 2008 is a once-in-a-century market, and it will be difficult to replicate it again. Everyone needs to have a correct mentality.

Moreover, in 2008, your team managed as much as 20 billion U.S. dollars of funds. This time, you only have half of the funds, and you can still get a quarter of the profits, which is already very good.

Converted according to the annualized rate of return, the annual rate of return of 86% has exceeded the 67.19% increase of the Dow Jones Index. No matter how you look at it, it is a qualified answer. I am very satisfied. "

Jiang Ping and Xia Jingxing looked at each other and nodded lightly to the latter, saying nothing.

Xia Jingxing turned his attention to a young man wearing glasses sitting next to Liu Hai. Seeing that the latter looked lost in thought, he interrupted his fantasy with a smile.

"Zhao Peng, it's up to you to make the 2009 year-end summary of the stock investment team!"

Zhao Peng has a round face and looks very honest and honest, a standard academic look.

Zhao Peng was suddenly awakened when he heard Xia Jingxing calling his name.

He was indeed distracted just now. After hearing several key data reported by Jiang Ping and the information inadvertently revealed by Xia Jingxing, he instantly calculated in his mind the terrifying income of Jiang Ping's team the year before, and even deduced the overall income of Vision Capital in 2008. Then I got distracted.

When the thought of the terrifying figure of 100 billion U.S. dollars occurs, even the most heartbroken person cannot remain calm.

"Okay, Mr. Xia!"

After reacting, Zhao Peng quickly nodded to Xia Jingxing, then stood up and walked onto the stage.

Liu Hai cast an encouraging look at Zhao Peng. This young man, who was only one year older than Xia Jingxing, was also the successor he had promoted.

I left the stock team to the other party for more than half a year, and the results were very good.

Apart from being younger, there seems to be no other shortcomings.

Xia Jingxing looked at Zhao Peng with a smile. This young man was good friends with Ma Ziming and was also an outstanding talent recommended by Zhang Sanshi.

At first, he threw 100 million US dollars to the other party to manage it alone, wanting to see how good the other party was.

In less than a year, Zhao Peng turned in a beautiful answer sheet, turning US$100 million into US$500 million.

Because Liu Hai went to manage Daxia Capital for Xia Jingxing last year, his personal energy was limited and he could no longer take care of the work of Vision Capital. Seeing that Zhao Peng was a good player in quantitative hedge funds, he gave Xia Jingxing advice to let this young man He succeeded him as head of the entire equities team.

Xia Jingxing readily adopted Liu Hai's suggestion and appointed Zhao Peng as the acting head of the stock team.

A series of investment operations of the stock team last year were all completed under the leadership of Zhao Peng.

Xia Jingxing has high expectations for this talented player who served as CEO of Castle Investment, a top hedge fund, foreign exchange, and options market maker in his previous life.

For example, the most accomplished Chinese professional manager in Silicon Valley on the West Coast is Lu Qi, so Zhao Peng is the Wall Street version of "Lu Qi" on the East Coast.

Even better than Lu Qi, who emerged in his twenties and is talented in finance.

After Zhao Peng walked on stage, the PPT was played.

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