My Age of Investment

Xia Jingxing was about to return home.

Before leaving, he called Liu Hai, Jiang Ping, Abel and other three Wall Street executives together for a meeting.

In addition to giving instructions, he also reminded the three of them to guard against arrogance and impetuosity, not to be fooled by the results in front of them, and to keep a calm and clear mind at all times.

Although they have recently shorted subprime mortgages, the total floating profit has reached nearly 700 million US dollars, but these can only be called appetizers, and the real big food is yet to come.

The global financial crisis caused by US subprime loans cannot be completely spread in a day, a month, or even a year.

Soaring house prices and loose credit planted a time bomb a few years ago. Wall Street’s financial tool innovations and various outrageous operations are equivalent to increasing the dose of bombs. Only when the long fuse is completely burned to the end can the beautiful mushroom cloud rise from Wall Street, and the shock wave sweeps the world.

The longer it's brewed, the more potent the bomb will be.

Therefore, Xia Jingxing was not in a hurry, all the arrangements had been clearly arranged, and now he only needed to concentrate and wait for the three-two-one to detonate.

There are a large number of subordinates watching the situation for him, and all arrangements are in place. Xia Jingxing feels that there is no need to stick to Wall Street. There are still a lot of things waiting for him to deal with, so he plans to leave temporarily and wait until Mushroom Cloud Come back after rising.

Shorting subprime mortgages is not the same as speculating in stocks or foreign exchange. Except that ABX index fluctuations need to be watched frequently, synthetic CDOs and CDSs are like buying a lottery ticket and waiting for the draw date to approach.

Of course, the employees of Vision Capital are not idle at present. A large number of analysts are closely watching the trend of housing prices, changes in the rating and price of subprime mortgage bonds, and the financial reports of various financial institutions.

In other words, they are doing all kinds of preparatory work, looking for various speculative arbitrage opportunities that may arise after the subprime mortgage outbreak, such as thunderstorms in the performance of financial institutions, fluctuations in exchange rates, gold, and crude oil prices, and so on.

For example, HSBC's goal is very good!

"HSBC has adjusted the U.S. subprime mortgage reserves to 10.5 billion US dollars, I guess they should be in big trouble, hehehe..." Liu Hai's laughter was a bit malicious.

"There is currently no funds to short it. We can observe and analyze more banks and financial institutions led by HSBC. When the synthetic CDO and CDS assets are all emptied, we have to find new hunting targets."

When it comes to the name of HSBC,

Xia Jingxing's eyes were cold. He remembered that when he went to Hong Kong Island with his mother a few years ago and passed the HSBC Building, he made a promise to give HSBC a long memory.

If there is a suitable opportunity, he will definitely fulfill his promise.

"Many financial institutions in Europe have also participated in this subprime mortgage game to varying degrees, and there are financial institutions from Europe who are competing with us in the CDS contract..."

Jiang Ping pushed the glasses on his nose and began to explain his point of view.

Last year, he proposed to make a layout around the "post-subprime mortgage crisis era". The stage is not limited to the United States, but the global mainstream financial market.

In his view, if the scale of the subprime mortgage crisis reaches the expected value, major global financial markets will be shaken, and a large number of investment opportunities will emerge.

If you want to eat fish from the head to the tail, you must start the relevant preparations from now on, and strive to eat the fattest meat ahead of other institutions.

After listening to Jiang Ping's speech, Xia Jingxing nodded, "No problem, just follow the plan we made last year. If you don't kill him like a mountain of blood, you will never withdraw!"

Jiang Ping and Liu Hai looked at each other and smiled, both saw the eagerness on the other's face, and felt like they were participating in a major historical process.

At the same time, this is also the opportunity they have dreamed of for a long time, to step onto a larger trading stage, become a world-renowned fund manager, and express their ambitions.

Abel, the only white man present, asked, "Then what am I doing, Darren?"

Xia Jingxing glanced at Abel. This guy mainly manages funds of funds and PE funds. All funds have been evacuated, and he is destined to be difficult to show his talents in this subprime mortgage crisis.

However, after getting along for so long, Xia Jingxing also discovered one of Abel's great strengths, he did a good job in logistics.

"You are responsible for contacting the company's LPs and maintaining the relationship with them. A new round of fundraising will be launched in the second half of the year. This important task will be entrusted to you."

Abel was overjoyed when he heard the words, the boss finally agreed to reuse him.

He had been doing odd jobs before, but he was in charge of the largest fund of funds but didn't have much real power. All the funds were allocated by the sub-funds below, and it was very difficult to make any achievements.

Fundraising is the first step in fund operation and the beginning of everything. In small investment institutions, those who can raise funds and can raise funds are the most valued talents.

It is relatively easier for large organizations to raise funds, but the importance of the position is not low.

Xia Jingxing looked at Abel with a smile, and said, "It's been almost two years since I joined the company, and I have noticed your performance. You have never been given more important responsibilities before, mainly because the company's strategic focus is on the hedge fund department.

When the subprime mortgage crisis is over and the company has money, the next step is to focus on PE funds. How can it gain a foothold on Wall Street without engaging in a few classic acquisitions? "

Abel was very excited to hear that. Although the salary income in the past two years was not low, he wanted to make some achievements in his old PE fund.

He made insinuations about his boss's development plan for PE funds many times, and the answer he got every time was "soon, soon", which made him a little disheartened.

But this time, he knew that the boss didn't lie to him, it was really coming soon, and the day when his Abel became famous on Wall Street was not far away.

Xia Jingxing glanced at Liu Hai and Jiang Ping, and the next words were also for them.

"The subprime mortgage crisis is a once-in-a-lifetime opportunity to expand the scale of asset management. Although we have given up the name of "empty god", we still have two direct investment funds.

In terms of scale, our direct investment funds are second to Paulson Fund and Cleary Capital, and are not as well-known as them. However, after the short-selling report card in the industry comes out, I believe that direct investment funds can also rank among the best.

For LPs, we don't make as much money as those two big shorts, but the return rate of the fund is not worse than them, or even higher than them, which is enough to impress LPs. "

Liu Hai nodded, he understood what Xia Jingxing meant, it was to tell them to be careful not to steal the limelight from the two big short sellers, but to show some sense of presence and take the opportunity to raise funds.

The reason why Xia Jingxing didn't put all the funds that shorted subprime mortgages in vests was actually to show off, not to eat all the fame bonuses, but to follow the two big short sellers and eat a small part.

These reputation bonuses are mainly reflected in the expansion of asset management scale. Once they hear that you can make a lot of money here, LP will rush over one after another.

Of Vision Capital’s total short-selling funds of US$3.4 billion, US$1.5 billion was raised from external sources. It is necessary to disclose information such as the fund’s net value, major financial indicators, and investment portfolio to these external LPs on a monthly or quarterly basis.

It is definitely unrealistic to completely conceal the short-selling action, and it cannot be concealed.

Therefore, Xia Jingxing only intends to hide the investment of his own funds, and he does not want to get the title of "the biggest profit from shorting subprime mortgages", because this thing is more popular than the "big short", which is to work for LP , Earn some commission.

People who hate the rich can be found in any country. Gates and Bezos are often criticized, and financial giants like Soros are even more notorious.

Their eight vests hold an average of less than US$90 million in funds. Even if the profit is doubled, it will not be particularly eye-catching, and there is a fund of funds filtering a layer of information in the middle, plus there are a lot of more in front of them. As a dazzling big short, Majia Gold will inevitably receive much less attention.

Xia Jingxing looked at Abel and said, "Whether the size of the company can reach a new level this time, the burden will be entirely on you."

Abel nodded heavily, "I understand, I will definitely do my best."

Xia Jingxing smiled with satisfaction, this time they have taken into account all possible situations related to the subprime mortgage crisis, and they should be one of the biggest beneficiaries.

After the huge profit arrives, he can feed the rabbits at home with peace of mind.