My Age of Investment

In early August, Bear Stearns, the fifth largest investment bank on Wall Street, officially announced that two of its funds investing in subprime mortgage securitization products had closed down, and investors lost a total of more than US$1.5 billion.

This news was like the first domino to fall, and quickly caused a chain reaction in the financial market. Other financial institutions stopped hiding and lifted the fig leaf one after another.

Industrial Bank of Germany announced a profit warning, estimating that the company had a loss of 8.2 billion euros;

The 10th largest mortgage lender in the United States - American Home Mortgage Investment Corporation formally applied for bankruptcy protection, becoming another large mortgage lender in the United States that filed for bankruptcy after New Century Financial Corporation;

France's largest bank, BNP Paribas, announced to freeze three of its funds on the grounds that it suffered huge losses from investing in US subprime mortgage bonds;

Australia's largest investment bank and the world's seventh largest investment bank, Macquarie Bank, announced that investors in its two high-yield funds faced a 25% loss;

Mizuho Group, the parent company of Mizuho Bank, the second largest bank in Japan, announced a loss of 600 million yen related to the US subprime mortgage;

Seven Korean banks led by Woori Bank invested a total of US$682.5 million in secured debt obligations (CDOs), with a loss of US$560 million, or a loss rate of 82.4%.

...

The powerful financial bomb of subprime mortgage (debt) finally detonated, and the shock wave swept from the center of the explosion, the United States, to Europe, Asia... and even the whole world.

Wall Street was in turmoil. The U.S. stocks, the Dow, the S\u0026P, and the Nasdaq fell sharply, and the global financial market was shaken.

At the same time, Xia Jingxing, who was at home in Palo Alto, still looked peaceful.

"Jing Xing, hurry up and come to New York to sit in town! The financial market has gone crazy, it's terrible! Everywhere is a scene of the end!"

Xia Jingxing held the phone with a smile, and while listening to Liu Hai's chattering emotion on the other end of the phone, he used his feet to shake the baby's cradle.

Today, with such a big movement in the financial market, he can finally be sure that the subprime mortgage crisis has fully erupted.

And all his layouts have taken effect one by one, and a lot of investment profits are on the way to the bank account.

In recent years,

He lived frugally, didn't keep any spare money on hand, and invested all his brains in the financial market. He lived a tight life, and he didn't have the status of the richest man at all.

It's Xia Duoyu, but she pretends to be Xia Luo, isn't she planning to grab a hand from the subprime mortgage crisis?

Now, the wish is finally coming true! He can also improve his life, buy whatever he wants, and invest whatever he wants!

The days are getting brighter and brighter!

After briefly asking about the company, Xia Jingxing began to ask about the situation of Clary Capital and Paulson Fund.

"The net value of the sub-fund that we handed over to the management of Cleary Capital has been greatly improved. A large number of banks and financial institutions holding CDO assets are frantically buying CDS assets in the market in order to hedge risks, causing the price of CDS assets to rise.

Peter Thiel followed us and also bought a lot of CDS assets.

He prefers to wait and see for a while, and wait for the financial risk caused by the subprime bond to continue to spread and expand. At that time, whether he sells the CDS or waits for the unlucky gambling opponent to pay, he can get a greater return. "

Xia Jingxing smiled. He remembered that when Peter Thiel first invested in subprime mortgage derivatives, he was still timid. He called him every few days to inquire about this and that. Now that he saw the profit, he dared to Big up.

But Peter Thiel was right, the bullet had to fly for a while.

Taking several Japanese banks as an example, the announced losses are only a few hundred million yen, which is simply fooling ghosts.

As far as he knows, the nine major Japanese banks headed by Mitsubishi UFJ, Mizuho, ​​Sumitomo Mitsui, Sumitomo Trust, Resona, and Central Mitsui Group hold more than one trillion yen in US subprime mortgage-backed securities. Where to where.

"Well, Peter Thiel is right. At present, the subprime mortgage risk has only just exploded. Many institutions have not yet correctly realized how dangerous the bombs in their hands are. When they understand clearly, they will give us a bomb defuse device. reasonable price.

Take it easy, the profit has been locked in, and you won't run away with long legs. "

Liu Hai said with a smile on the other end of the phone: "Well, we will keep an eye on market changes and try our best to maximize profits."

"Where's John Paulson?"

Xia Jingxing did not forget the big short and the GP. Vision Capital’s funds for investing in subprime derivatives were actually divided into four groups. Cleary Capital, Paulson Fund, two sub-funds under Vision Capital, and eight Vest gold.

Paulson manages $400 million for Vision Capital.

"This guy is a big hit on Wall Street right now! The kind that's so red!"

Liu Hai said in an exaggerated tone, "I heard that Soros wants to invite him to dinner and exchange investment experience together."

"What's going on?" Xia Jingxing suddenly became interested.

Liu Hai introduced: "You should also know that Paulson was not well-known before, so the source of the fund's LPs is very messy, and everyone's money is collected into the fund.

A few days ago, Paulson Fund disclosed to all LPs the net value of the fund and investment portfolio of the previous quarter as usual.

This disclosure is a bad thing!

With the market screaming, the Paulson Fund bucked the trend and rose, which can be said to be thriving!

So, the pretentious LP revealed Paulson's trading methods to his friends..."

Xia Jingxing was stunned when he heard this, and then he smiled and said, "Does this group of people think that there are too few people sharing the cake? Are they not hiding it, but revealing it to the outside world?"

Liu Hai's tone was helpless: "What can I do? Too many people means messy mouth."

"Haha, how did Paulson deal with it? Have you investigated who leaked it?"

"How to investigate? There are hundreds of LPs in the two funds, and there is no way to investigate, and the main energy has to be spent on the financial market. It is impossible to pay too much attention to these shitty things."

Liu Hai sighed, "Hey, Paulson was very angry, he installed special software on all the company's e-mails so that the e-mails could not be forwarded.

But this is the same as repairing a dead sheep. Now all Wall Street knows that a guy named Paulson has made a fortune. The more he conceals it, the more everyone pays attention to it. "

Xia Jingxing smiled silently, so this is also the reason why Vision Capital does not accept messy LP funds casually.

In response to this subprime mortgage crisis, Envision Capital, or in other words, has invested a total of 3.4 billion US dollars, all of which are its own funds, and there are no redundant LPs, so there is no need to worry about leaking rumors due to fund information disclosure and becoming a target of public criticism.

"Then again, Paulson is a blessing in disguise, and now a large number of LPs are waving checks to invest in the Paulson Fund.

Now everyone is losing their money. The Paulson Fund is like a money printing machine running at full capacity, making money continuously.

If I were an LP, I would also invest money in this rising investment star! "

Liu Hai said emotionally, "I estimate that if Paulson opens up to receive funds this time, the fund's asset management scale will soon exceed 10 billion US dollars.

In just one year, the size of the fund has expanded tenfold. "

"Don't be envious!"

Xia Jingxing heard the envy in Liu Hai's tone, and explained: "Although Paulson became famous overnight, this name does not necessarily mean a good reputation!

He's American, and he's white! And the two of us, one Chinese and one Chinese, if we try to grab Paulson's limelight, we will probably bear much more pressure than him! "

Liu Hai's tone was heavy: "I understand, but I'm just a little bit emotional. Tens of billions of funds have passed us by, and we have to collect hundreds of millions of dollars in management fees every year."

Xia Jingxing smiled, if Vision Capital disclosed the subprime shorting results, Paulson Fund would be the younger brother in front of them.

But if it is too much, it is impossible for one person to take all the benefits. Vision Capital has gained real benefits by hiding in the back, so don't be greedy for other things, and it is easy to choke to death.

Xia Jingxing comforted: "Even without the investment performance bonus of the subprime mortgage big short, the rise of Vision Capital is unstoppable!"

"I know that the Lixia No. 2 Fund has finished its fundraising work and has entered a closed period, and will short-sell a number of banks soon!"

When it comes to the word "short", Liu Hai's tone is vicious. Shorting subprime mortgages is easy to be labeled as the culprit of the financial crisis, but there is no need to be afraid of shorting a certain company.

Now Wall Street financial institutions that have suffered huge losses are looking for prey, ready to make up for a little loss, and the inclusion of Vision Capital in it is not too conspicuous.

"Well, there's really not much interest in subprime mortgage derivatives right now. The asset prices of CDOs and CDSs fluctuate greatly. It's time to find new hunting targets."

Speaking of this, Xia Jingxing remembered something and asked, "Didn't Jiang Ping make a rough plan last year? What did he say?"

Liu Hai laughed loudly, "Yes, Brother Jiang Ping is really powerful. He conducted a deduction last year. The current trend of the financial market is highly consistent with his deduction results. Recently, we have focused most of our energy on the subprime mortgage derivatives market. In order to find new investment targets.

There are already some eyebrows, but you still need to come to New York to preside over the official launch. "

Xia Jingxing glanced at his sleeping son in the cradle, and said, "All right! I will come over as soon as possible."

Dear, click to enter and give a good review. The higher the score, the faster the update. It is said that those who gave the new full score found a beautiful wife in the end! The new version of the mobile station upgrade address:, data and bookmarks are synchronized with the computer station, no ads Fresh reading!