My Age of Investment

Chapter 774 Unfavorable start

Beijing, 36th floor of China Merchants Building.

Liu Hai, Jiang Ping, and Abel are holding a remote video conference with Xia Jingxing.

"The two funds of funds, Lidong and Dongzhi, have invested a total of 3 billion U.S. dollars."

Abel reported with a dignified expression, "All the 1.5 billion US dollars of the Lidong Fund was invested in Peter Thiel's Clary Capital. He established a new fund for us and rented an office on Wall Street.

From the investment managers to the analysts to the traders, it was all our people, but Peter Thiel arranged for two people to come. "

Xia Jingxing nodded, "Okay, just leave those two people alone and just do our business well."

Peter Thiel had notified him in advance that he had sent two people over, and he agreed.

Because no one can guarantee whether Vision Capital will do something outrageous in the name of Clary Capital. It is normal for Peter Thiel to take precautions, not to monitor them deliberately.

Now that the deployment has been completed, he doesn't mind Peter Thiel following behind for a drink of soup, but only if he has the guts.

Abel continued to report: "Winter Solstice Fund's 1.5 billion US dollars, of which 700 million US dollars has been invested in the newly acquired 8 hedge fund companies, each with an asset management scale of less than 90 million US dollars, and each of them is managed by one of our trading teams;

The other 800 million US dollars are managed by the two next to me, William Liu and Peter Jiang, who each manage 400 million US dollars. "

Xia Jingxing smiled, "This arrangement is very reasonable! It achieves our goal of diversifying investments and reducing risks."

Abel smiled and said nothing, he knew very well what the real purpose of the boss was, it was just a deception.

As an American, he doesn't quite understand the boss's idea of ​​not wanting to show off.

If the short selling is really successful, it will be a good opportunity to win a battle on Wall Street, and countless fame and fortune will come rolling in.

But the boss is Chinese, so it is normal to worry about being hated and targeted.

It can only be said that the boss is really too stable.

As the manager of two funds of funds, their arrangements did not cause him too much trouble, but the operation was a little more complicated.

"With the help of Goldman Sachs and Morgan Stanley, we have bought most of the funds into synthetic CDO and ordinary CDS contracts, and a small part of the funds have shorted the ABX subprime mortgage bond derivative index."

Jiang Ping looked at Xia Jingxing on the other side of the screen with a serious face, and said in an emphatic tone: "The first installment of the insurance premiums for the two contracts has already been paid, and at the same time, a sum of product design, marketing, and intermediary fees has been paid to the two major investment banks.

The ABX index has experienced a round of gains this month...

Up to now, including Clary Capital, the net value of our fund has dropped by 10%, which is equivalent to a temporary loss of 300 million U.S. dollars. "

Such a large loss was unprecedented in Jiang Ping's career history.

As a trader, he has a big heart, and he didn't lose his mind because of it.

But he is very worried that the boss will have negative emotions!

Less than a month after entering the market, it lost the company's profits for the past year.

If the boss has the idea of ​​retreating because of this, he doesn't know whether he should persuade him or not.

Liu Hai and Abel also had the same worries in their hearts, and they looked at the boss on the screen very anxiously.

It was late at night in the United States at this time, and the 49th floor of 40 Wall Street was still brightly lit.

The three of them discussed for several hours before making a difficult decision and called the boss's secretary.

Hearing the tragic news of a loss of 300 million US dollars, Xia Jingxing's heart actually fluctuated a lot, but he still kept a smile on his face. As the initiator and boss of the short-selling plan, he wanted to give confidence to his subordinates.

"It's only 300 million. It's not a big number. It's better than I expected."

Xia Jingxing spread his hands nonchalantly, and said with a smile, "Everything reaches its peak first, and then falls to its trough.

This is the last stubbornness of the housing market. After a while, it will become docile.

Guys, cheer up, forgot my stop loss line? It’s very safe. Don’t be discouraged. If you feel pressured, go to the gym, play golf, or take a yacht to the sea to hold a swimsuit party. It’s up to you. The company will reimburse all expenses. "

When the three people on the screen heard this, they finally put their hearts back into their stomachs.

Sometimes the scariest thing is not a godlike opponent, but a teammate who meddles indiscriminately.

Xia Jingxing did not criticize them because of "a little" loss, and showed excellent financial literacy, which made them put away a lot of worries.

No one wants to distract a boss who doesn't understand anything when they are under tremendous pressure from the complex trading market environment and the market plunge, which will drive people crazy.

"You have to have confidence in the market, and in our judgment and investigation."

Xia Jingxing said with a smile: "Negative emotions are contagious, if you don't even have confidence, what about the people below?

It's only a 10% loss, don't make a sad face, making it seem like we are going to go out of business tomorrow. "

After Xia Jingxing cheered for a while, the three of them completely recovered their spirits, and the haze caused by the short-term defeat was no longer visible on their faces.

"After reading our email report, LP was taken aback and reacted a lot. They said everything. Many people even asked us to adjust our trading strategy."

Liu Hai complained, "The most irritating thing is that some LP questioned our professional ability. Now the whole Wall Street is rumoring that we have lost hundreds of millions of dollars. In fact, the report to LP is only a loss of more than 100 million dollars."

Xia Jingxing smiled lightly, "Just let the customer relations department come forward to appease you. You don't need to pay attention to them. Anyway, the door is welded dead, so you can't jump out of the car!"

Liu Hai smiled, thinking that this metaphor is very appropriate. According to the signed agreement, the fund LP cannot redeem it until the end of the closed period.

Even if Vision Capital loses only 10% of its net value, it will wait for the fund to mature with tears in its eyes.

"Oh, by the way, Goldman Sachs and Morgan Stanley heard that you have been questioned in China and asked us if you need help?"

Xia Jingxing smiled, "The CEOs of their two companies talked with me on the phone, you don't need to worry about this matter."

To be honest, Xia Jingxing felt that these two investment banks were really well informed.

As soon as it was exposed in China that he was in financial crisis, Goldman Sachs and Morgan Stanley came to negotiate loan business.

To add insult to injury, the two investment banks drew loans, which was purely based on rumors.

Because they have many cooperations with Xia Jingxing and Vision Capital, they are very clear about Xia Jingxing's financial resources.

Those who have a lot of money dare to go short the subprime debt, what kind of well, what kind of rock!

Perhaps, Xia Jingxing failed in short selling, and they were willing to give a "helping hand".

However, the domestic local state-owned assets management departments are obviously not so sensible, and the information channels are also blocked a lot.

Xia Jingxing controls a lot of assets, but the debts and capital flow are always a cloud of fog, and ordinary people and ordinary institutions can't find it at all.

In fact, he also understands the worries and urgency of the local government. After all, the financial criminals have just been sent away. If another one is ushered in, it will be fatal. Do you want to make progress?

It's just a matter of speculation, and the local state-owned assets management department didn't do too much, just urging the payment under various guises, and it should be completed within the specified date, otherwise they would be so difficult.

This is actually a kind of tacit understanding.

"Will the $400 million mortgaged on Wall Street 40 be paid to Paulson?"

Liu Hai was the person who handled it, and replied: "The full amount has been allocated, and he often calls me to report some work progress."

Xia Jingxing felt that Paulson was really cute, and he was not afraid that Envision Capital would follow him and copy the answers.

This is actually exactly the same as he is not afraid of Peter Thiel copying the answer. The fund loses 10% just after entering the market, and most people dare not play.

"His side is also 400 million US dollars."

Xia Jingxing looked at Liu Hai and Jiang Ping on the screen, "Compare the two of you with him to see who creates a higher rate of return before deducting management fees and sharing."

Liu Hai smiled and said, "Okay, then compare with him."

Jiang Ping nodded without speaking, his face was full of confidence, and he was not afraid of the two competitors at all.