Reinventing the Millennium

What kind of clients are there in MIGA funds?

This is a question worth thinking about.

The first customer that surprised Fang Zhuo was Zhou Zerong, an Australian fashion businessman. He revealed his identity as a customer when Tesco was in conflict with Gome. Now Geithner, the president of the New York Fed and the future finance minister, The housekeeper appeared again when he was walking with Xiao Ao...

This group of people didn't say anything before and just invested money quietly. When things really happened, they jumped out - Mr. Fang, Mr. Fang, it's me, it's me!

However, Geithner's identity is indeed too special.

Unless Xiao Ao smiled and said, "Mr. Fang, I am also your customer," Fang Zhuo could not be more surprised.

Fang Zhuo agreed to Geithner's request without any subtlety. He directly handed over the unexpected work to former secretary Zhao Zhishan to handle. When Geithner saw this, he also happily released the assistant. docking.

Then, knowingly or not, everyone stepped back and strolled into the Rockets' home arena.

Xiao Ou is probably a real fan, just like Fang Zhuo, the team owner, who is a real fan. He walked on the floor of the court where the championship was decided, couldn't help but pick up the basketball, and took two steps left and right.

Zhao Zhishan listened to the sound of basketball hitting the floor, watched the three people walking away, and handled work with Geithner's assistant.

"How many?"

A few seconds later, she couldn't believe her ears when she heard three accounts and nearly $20 million in investments.

Twenty million U.S. dollars, this is a figure that I will not be able to earn in eight lifetimes.

Even if Geithner was a governor, he wouldn't have that much money based on his resume.

Zhao Zhishan knew Geithner’s identity as President of the New York Fed—this is the most important and influential reserve bank in the Federal Reserve System, which occupies a pivotal position in the entire country’s financial field, and it is also the most powerful Bank supervisor.

It can be said that even in an international financial center like New York, Geithner is famous.

An idea flashed through Zhao Zhishan's mind, and he suddenly felt that maybe from a procedural point of view, the owners of these three accounts may not have any connection with Geithner, or, well, he has seen a lot of straightforward interactions at work these days. , today this one is just more sudden.

Uh-huh!

The basketball is thrown into the basket and makes a pleasant sound.

Fang Zhuo bent down to pick up the basketball thrown by Xiao Ao, and also tried a small shot.

The action is very standard, but the accuracy is a bit poor, and the throw is a miss.

Fang Zhuo didn't believe in evil, so he took the ball passed to him by the president of the New York Fed, tried again, and shot three-no-touch.

"Mr. Fang, it seems that your role is greater off the court than on the court." Xiao Ao hit the shot again and said with a hearty laugh.

When Fang Zhuo heard this, he didn't just take it at face value. He also smiled and said, "I just need to have a vision. This matter is more important."

Team building requires vision, fund investment requires vision, lobbying parliamentarians requires vision, but this is a simple matter for Fang Zhuo.

Geithner agreed: "Mr. Fang's vision is indeed very good. Many stocks invested by the MIGA fund have performed quite amazingly."

Xiao Ou listened with a smile. Seeing that the two did not expand further, he continued: "The Rockets have won two championships. It will be difficult to win the third championship next year. Thomas, an important defensive puzzle piece, will definitely go out to look for retirement next season. Big contract, right? I heard that Sura is retiring? Yao Ming signed a maximum salary, and the salary space brought by his rookie contract is gone."

When Fang Zhuo heard this, he really discussed the team seriously. He pondered for a while and said: "Fortunately, Nash was not brought in with the maximum salary. It is no problem for Sula to retire. He really can't keep up. I am still very grateful to Thomas." Yes, without his defense, we may not win the championship. I hope he can get a generous contract outside."

He shook his head slightly: "The general manager of the team plans to find players from overseas. When the free market opens next month, he will also see if there are any suitable veterans who want to win the championship. For this reason, we will not try to win three consecutive championships. That would be such a shame.”

Xiao Ou nodded and agreed: "This is a career that can be compared to the Lakers and Bulls."

Fang Zhuo smiled and said: "We are now the defending champions. Do you like the Bulls or the Rockets?"

"I will definitely support the Rockets in their pursuit of the championship next season. Except when they play against the Bulls, I will stand with the Bulls." Xiao Ou shrugged. His favorite Bulls have been mediocre in recent years, which really makes him feel uncomfortable. People are very sorry.

He asked another thing: "When the White House received the NBA champion last year, it seemed that Mr. Fang didn't go? Will he not be with the team this year?"

The White House has a tradition of receiving NBA championship teams over the years.

But Fang Zhuo felt it was unnecessary, and he was busy working on ice cores last year and had no time to make another trip to the United States, so he did not attend.

He hesitated for a moment and replied: "I was busy with fund matters at the time. It will also depend on the situation this year. After all, the Federal Reserve raised interest rates again last month."

Fang Zhuo glanced at Geithner.

The Federal Reserve kept opening the floodgates from 2001 to 2003, lowering the benchmark interest rate 13 times in a row. From 2004 to this year, it raised interest rates 17 times in a row, from 1% to 5.25%.

It can be said that real estate is also a chamber pot in the United States.

Geithner confided the news easily: "This is the last rate increase. This year's mortgage-backed securities are too large and account for almost 80% of the mortgage balance. This is not a good sign."

"We are worried about the knock-on effects of continuing to raise interest rates."

He paused and said: "The financial market is innovating too fast, and I am also worried that CDO, CDS, and CDOs will cause excess liquidity to flow into the real estate market, which may bring the risk of systemic shocks."

Geithner frowned when he said this: "These financial innovations have made our supervision more difficult, and there are many problems."

Fang Zhuo tentatively said: "Does this mean that our fund can temporarily withdraw its hands from CDOs? After all, there are regulatory risks and market risks."

Geithner replied flatly: "That's not necessary. Even if there is a problem, it is not now. I believe your foundation has done a good job in risk allocation. There are problems and opportunities in the market, and the problems will eventually be solved."

Fang Zhuo was a little unsure of what this person meant, and after pondering for a moment, he said: "I plan to learn from Goldman Sachs, pay attention to some CDOs with higher risks, and see if I can buy some linked CDS contracts."

"I don't like Goldman Sachs sometimes," Geithner said with a sigh. "It's just not down to earth at certain times."

Fang Zhuo thought for two seconds. Geithner and Goldman Sachs should be in the same camp. However, the same camp also has different backgrounds. Paulson of Goldman Sachs has just assumed his duties, and Goldman Sachs is now very popular.

As for this not being down to earth...

Probably the two things I hate the most in my life are the risky behavior of Goldman Sachs that eats both sides, and the aloofness of not taking it with me.

MIGA funds are different.

It can not only open investment doors to customers, but also cooperate with Goldman Sachs, Bank of Washington, Deutsche Bank and the like.

There is still a short chapter left for tomorrow morning. I feel a little distracted while looking at the information tonight.

In addition to the normal updates tomorrow, I will also write additional updates.