Chapter 636 Guarding Order
It can be said that it is this time and that time.
In Barron's earlier days, because he was limited by funds, but also had experience in his previous life, he knew which companies would develop better in the future, so he used Mars Fund, Global Industrial Investment Fund and In a form like the Caesar Fund, external funds are used to complete its own layout.
It can be said that this method did accelerate his development and allowed Barron to complete some layouts early.
But now, especially after this subprime mortgage crisis, the scale of funds he controls has become extremely large, and he has completed or is about to complete the layout of many important areas...
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So the funds of the wealthy countries in the Middle East, even if, as Balder said, the scale exceeds tens of billions...
For Barron, well, it cannot be said that it is of little significance, it can only be said that Not too necessary.
In addition, in order to attract external funds, Barron's not only had the model of directly sharing profits in proportion to the first phase of the Global Industrial Investment Fund, but also had fixed income types with yields as high as 10%-15%. model...
But now, it is definitely impossible - you know, the "Madoff case" as a Ponzi scheme, the average return rate given over the years is only more than 10%. .
Or why did the Kuwait Investment Authority and the Saudi Public Investment Fund want to withdraw their investment in the first phase of the GII Fund after the "Madoff case" broke out...
It can only be said that the high return conditions that Barron's initially used to attract external funds on some funds of the DS Group cannot be said to be exactly the same as Madoff's, but they are very close...
It's not even just these two. The sovereign wealth funds of the tycoon countries in the Middle East and even some individual investors in the Mars fund hope to redeem their shares in the fund because of this concern.
It’s just that when the Madoff case broke out, it was already October, and the investment and redemption window of the Mars fund in September had passed...
But Barron’s was not convinced. I didn’t pay special attention to it. For this reason, the Mars Fund issued a special announcement to each investor, saying that in order to allay investors’ concerns and build investor confidence, their foundation will once again open fund redemptions separately in the next half month. Window. Users who wish to redeem can do so within this window.
And this special case is only done once, and will only be done when the window is open. At other times, the corresponding fees will need to be deducted.
After the Mars fund opened the redemption window again, the funds applied for redemption accounted for about 10% of the total funds, which is already a relatively high proportion. As for the remaining investors, they are probably waiting and watching. Among them, if the Mars fund delays in the payment of funds during this redemption, it is estimated that it will encounter a run...
However, this proportion of redemption, although there is some improvement in the investment of the Mars fund. The impact is not significant - after all, their round of short selling on gold and oil price futures at this stage can be said to have made huge profits, but many of them did not close their positions and were just floating profits.
But now that they are redeemed, of course these funds will not be able to enjoy this part of the profit, but relatively speaking, compared with the funds they invested in the Mars fund, the profits are already huge. New investments added to the fund and the closing of a small number of futures orders are sufficient for redemption.
This calm and timely payment also dispelled investors' doubts about DS Group.
Moreover, although the funds under the DS Group look somewhat similar to those of Madoff in terms of early fixed-rate products, there are still differences between the two, and they are not small.
After all, it does not include all stock investments and securities and futures investments, but on the surface, DS Group owns many companies - O2 Telecom, SEM Group, Argos Retail Group, United Energy Group, LOMX Group and Standard Chartered Merrill Lynch Etc., although they have been affected to some extent by the subprime mortgage crisis, their operating conditions are still relatively good.
This is not like the Madoff Company. They said they invested their funds in financial securities, but where exactly they invested...
But there has never been a definite public record. of. ……
“Indeed, Madoff Company has brought us a lot of trouble. It can be said that it is adding insult to injury...”
Slowly exhaling a puff of cigar smoke, Jamie Dimon, chairman and CEO of JPMorgan Chase, said to Barron with some annoyance:
“For this reason, we also need to appease some investors, because Mai Dolf Company, many funds have begun to be cautious, which is very important to the current situation. In such a situation, it is not a good thing. The most important thing in the market is confidence.”
His words are somewhat similar to those of Paulson, the US Treasury Secretary...
Barron had just met with Paulson the day before.
"Your Highness the Duke, I heard..."
Jamie Dimon looked at Barron:
“You know, there are always some rumors in the circle, true or false, but many people say you will make big moves.”
< br>"This is not surprising, Mr. Dimon."
Whether it is cigarettes or cigars, Barron has no interest in them - he does not like anything that can be addictive. After all, money and power, It already takes willpower to dispel the temptation.
Barron did not give too specific an answer to the rumors Jamie Dimon heard, or his own speculation.
Although the British Fortune Era (BFT) Fund has become one of the major shareholders of JPMorgan Chase, in many cases, it is not wise to expose the target too early.
“You know, some funds, we just manage it. Of course, the decision-making needs to be made by me, but in fact, to some extent, we are all the same, so I always put Position yourself to be a manager of wealth, or... a steward, whether it is for God or for others, but wealth cannot be completely personal after all, can it? ”
"I strongly agree, Your Highness the Duke, that wealth exists because of order. Now we need to maintain order. As for the growth of wealth, this is an additional reward based on our protection of order."
Jamie Dimon is right, JPMorgan Chase has indeed been rewarded - it can be said that they were the bank that expanded most significantly during the subprime mortgage crisis.
Whether it was Bear Stearns or Washington Mutual, JPMorgan Chase was the most proactive bank to rescue them in the beginning.
These actions all come from the leadership of Jamie Dimon, but earlier, they stem from the Morgan family's protection of the American financial order. This protection has also allowed JPMorgan Chase to receive generous returns.
It can be said that except for JPMorgan Chase, anyone who wants to complete the merger and acquisition of Bear Stearns and Washington Mutual Bank will have a hard time obtaining the same conditions as JPMorgan Chase in terms of government support. , the returns JPMorgan Chase has received are indeed enviable.
“But apart from that, I actually got more accurate information, Your Highness the Duke...”
Jamie Dimon showed kindness to Barron:
"We are already friends, and maybe the relationship can be closer. If you are interested in certain businesses of SINOMACH, first of all, there is no competitive relationship with us."
(End of this chapter)