Chapter 1139 Jingwei System
“We have looked at the materials submitted by Hanhua. Among the dozens of funds under your umbrella, American hedge funds have the best performance?”
Xu Liang nodded and said: “ The financial industry in the United States is more developed and can It also uses more financial instruments.
It is also the country with the highest GDP in the world. With the same investment strategy, the return in the United States will be several times or even ten times higher than that of other places.”
Lou Wei nodded, with a glimmer of light in his eyes.
"Your Pacific Fund, with a raised amount of US$30 billion, can maintain a rate of return of more than five times for two years. It looks really amazing!
Can I ask how you do this? ”
“It’s very simple, collect enough detailed data as much as possible, and then formulate investment strategies based on this data.”
This is nonsense, but it is also a truth.
All investment institutions are like this. The key is that some people make huge profits based on their investment strategies, such as Xu Liang.
Some people have lost their lives to their grandma’s family. There are too many such people in the world, and they can be found everywhere.
Although Lou Wei was a little disappointed not to get the answer he wanted, he also knew that this was normal.
We meet by chance, why should I tell you my investment secrets?
"It's amazing. Europeans and Americans always have a prejudice that we Chinese people are not good at finance. Hanhua has rectified the name of the Chinese people."
"You have given me the award."
Looking at Lou Wei's expression, Xu Liang continued with a smile.
“Hanhua is now focusing on developing securities business in order to provide better services to customers, especially institutional customers.
Based on Hanhua’s many years of investment experience and data, we use With the help of big data and cloud computing R&D advantages, Hongmeng Company successfully developed the 'Jingwei System'"
"Can you tell us more about this Jingwei System?"
Lou. Wei became interested.
"Of course. The 'Jingwei System' is a risk warning system. When customers conduct investment operations on our company's website.
If the investment model, position, delivery, etc. appear to be high risks deemed by the system, 'Jingwei System' will prompt you in the background and give certain investment advice.
Of course, whether this suggestion is implemented or not depends on the opinions of investors and investment institutions.
We only give it a friendly reminder.”
'Risk warnings' of financial institutions have become a normal setting after more than ten years.
Of course, this thing is also an imported product.
The first person to start working on this kind of thing was 'Aladdin' developed by BlackRock, not the Aladdin in "One Thousand and One Nights"
but.
asset,liability,anddebt,derivativeInvestmentnet-work.
Translated is the abbreviation of ‘Assets, Liabilities and Debt and Derivatives Investment Network’.
The development of Aladdin, the global superbrain that grew out of the Equus computer that once sat in the pantry of BlackRock's first office, was an underwhelming development.
The first programs to run on the device were developed by co-founders Bennett Golub and Charles Halak, both early BlackRock employees and top MIT graduates.
It was written in 25 million lines of computer code, which is about the same as Facebook needs to manage the personal information of billions of users.
Microsoft's Windows software is considered one of the most complex programs by technicians, with approximately 45 million lines of code.
This big data system, which is composed of software and huge databases and powered by AI technology, has become BlackRock's main profit multiplier.
This will benefit many retail investors who do not have extensive access to various news in the financial market.
Hanhua’s ‘Jingwei’ is the Chinese version of ‘Aladdin’.
However, this system is too complicated, even though Hanhua has launched it.
But it is only in the internal testing stage and has not been really promoted to customers.
“Can CIC use your ‘Jingwei System’?”
Lou Wei's eyes shone, he was a smart man and he immediately realized the value of Jingwei.
"Of course. But now 'Jingwei' is still in its infancy. There is not enough data and the prediction is not accurate enough. It can only be used as a reference and cannot be relied upon as an actual investment." Xu Liang said with a smile.
Ten years later, everyone knows that the basis of AI is data. Whoever has more data is more accurate, and whose AI system is more sensitive and valuable.
Releasing 'Jingwei' can not only make money, but also obtain more practical data, fill in Jingwei's database, and make it more intelligent.
Why not?
"Okay, I'll definitely go and see it some other time."
Originally it was just a casual question, but unexpectedly a big melon popped up, which made him quite excited.
“We are always waiting for Team Leader Lou to visit.”
Back to the original question.
“Mr. Xu, at the cabinet meeting, it was specifically explained above that during the construction and operation of CIC.
We must rely heavily on Chinese-funded financial institutions operating abroad. He also specifically named Hanhua. He instructed CIC to cooperate more with you and learn from you. "
Xu Liang's face became solemn. Does this alarm the elders?
" Don't take it seriously, but if your superiors have any instructions, just speak up. "
Lou Wei smiled and waved his hand, "Mr. Xu, you don't have to be so restrained. There are only two of us in the room now. We just chat like two friends or two business partners. We can talk freely. Don't stick to formalities.
There were too many people that day, and I didn’t even have time to talk to you about many things. ”
Xu Liang nodded in agreement without saying much.
“CIC has formulated its business scope from the moment it was established.”
Lou Wei looked at Xu Liang:
“Domestic foreign currency bonds and other foreign currencies Investment in financial products;
Investment in overseas bonds, stocks, funds, derivative financial instruments and other financial products;
Domestic and overseas equity investment;
Entrusted external investment;
Entrusted financial institutions to make loans;
Entrusted management of foreign exchange assets;
Initiated the establishment of equity investment funds and Fund management companies, etc.
You should also have heard that most of the asset allocation must be in foreign currency, which is related to foreign exchange reserves. The reason will not be elaborated.
Of course, domestic equity investment will not be ignored, but this aspect will not be the focus.
The domestic venture capital market is worth billions of dollars a year, and the pool is too small.
If we spend too much of our US$200 billion, we won’t be able to keep it at all. "
Xu Liang nodded, "I know this. CIC spends 1%, or even a few tenths of a percent, of the assets under management every year, which is actually enough for domestic equity investment. ”
Lou Wei smiled and nodded, "I came to see you today because I actually want to talk to you about two things.
The first is that CIC intends to invest US$3 billion to serve as the LP of Hanhua American Hedge Fund. ”
Xu Liangliang realized that he was still interested in the rate of return of their hedge fund.
With reference to CIC’s scale of US$200 billion, US$3 billion is not a lot, but it is still a lot.
After all, this is the first time for both parties to cooperate, and there is still a lack of trust.
"The second thing is that CIC intends to invest US$3 billion in domestic equity investment to purchase 20% of Ali's shares held by the Xu family."
Xu Liang was stunned, why did he suddenly want to invest in Ali?
Lou Wei smiled and said: "Of course, we will not force the second thing.
The price can also be renegotiated, and we will respect your choice, Mr. Xu.
We mainly searched around the domestic Internet and technology industries, and besides Hongmeng, we found Ali which is more in line with our investment criteria
We also attach great importance to domestic equity investment. "
Xu Liang said with a normal expression: "Ali is in some trouble. Most of the 49.9% of Ahli's shares held by the Xu family are put into an S fund 'Phoenix'. This fund has some foreign investors.
At present, this Phoenix Fund has just completed its fundraising. It is somewhat unreasonable to withdraw now. "
Seeing Lou Wei's thoughtful expression, Xu Liang added: "Or this way, CIC subscribes for part of the Phoenix Fund shares. In addition to Ali's equity, the investment portfolio also includes Facebook, YouTube, and the NBA. Equity shares in high-quality companies such as the Warriors and Hynix. ”
Lou Wei took a deep look at him and smiled.
"This won't embarrass Mr. Xu, right?"
"How could it be? The sovereign wealth fund is just making normal financial investments and it only needs to comply with relevant laws."
Seeing Lou Wei thinking, Xu Liang was also thinking. If the predictions are correct, CIC will invest in Morgan Stanley, which is equivalent to indirectly investing in Facebook.
Now that he has brought CIC into the Phoenix Fund, it is equivalent to an indirect investment in Facebook.
The sensitivity is lower, and at the same time, it can also involve the power of the state to protect its assets.
After thinking for a moment, Lou Wei replied: "Personally, I am very inclined to purchase Phoenix Fund shares, but I still need to submit a proposal to the board of directors."
Xu Liang nodded, "It doesn't matter. As it should be."
"Mr. Xu, if you have any requests, you can put them forward and let me report them to the board of directors."
Lou Wei thought about it and felt that Xu Liang was like this. Generosity, maybe there is something to ask for.
"There are no special needs. By the way, several domestic offices of Hanhua are currently establishing real estate opportunity funds. If CIC is interested, you can invest in some."
"Are you optimistic about the future trend of real estate?
< br>The state has recently been regulating the property market, real estate It is difficult for companies to go public, so they can only turn to Hong Kong stocks."
Xu Liang replied with a smile: "The domestic urbanization rate is still too low. Even if the housing market is in a downturn, it will rebound in the future. I am optimistic about China in the long term. Housing market.
How did Blackstone grow?
Aren’t you still relying on real estate funds?
Hanhua wants to become an influential asset management company in the world, and the property market has always been an asset allocation that we cannot avoid. "
Lou Wei understood instantly. After thinking for a moment, he replied: "Okay, send the materials over and I will report them together. But Hanhua needs to be mentally prepared. CIC has already planned to invest 6 billion US dollars in you.
Any more and the position will be too high. ”
Originally Lou Wei did not intend to remind him like this, but because Xu Liang was so generous, he added another sentence.
“Can we transfer some of the shares of hedge funds and Phoenix funds to real estate funds and private credit funds?”
With the support of CIC, it will be easier to compete for some high-quality land and obtain bank loans. .
Lou Wei pondered for a moment and said, "Okay, I'll try my best."
"Thank you."
Lou Wei waved his hand, "Mr. Xu, you're welcome, we The cooperation between the two parties is mutually beneficial.”
Xu Liang smiled and said nothing more.
In the eyes of ordinary people, these actions of his are that he led the country to make money and distributed some high-quality projects to CIC.
Looking at it this way is too superficial. The deeper level is actually making contributions to the country and taking on greater responsibilities.
The money and benefits he earned from Facebook and YouTube did not benefit the country at all. It neither solved taxation, employment, nor promoted industrial development.
If something goes wrong, why should the country protect you?
Just a passport? At most, you can evacuate just one overseas Chinese, which is not enough for the country to devote a lot of resources to protect you and help you tide over the difficulties.
Rights and obligations have always been equal.
In fact, through the choices of Huo, Ren, and Li, we can understand the big businessman's way of life.
…………
“The plan failed!”
Cai Chongxin walked into a Zen room and sighed.
Ma Yun, who was meditating on a futon in Tai Chi suit, suddenly opened his eyes.
“What failed?”
“People from CIC told me that they decided to buy Hanhua Phoenix Fund shares and no longer seek to directly acquire Ali’s equity.”
Cai Chongxin shook his head as he spoke, with a very ugly expression on his face. This was a trick he came up with, using CIC and national justice to suppress Xu Liang.
Unexpectedly, he was defeated so easily by the opponent, and he might even provide an assist in turn, allowing Xu Liang to close the distance between him and the CIC. Hanhua received a big helping hand!
What a huge mistake!
Ma Yun frowned, "How could this happen? The people at CIC are so easy to talk to, so Xu Liangrang just does whatever he wants?"
As he spoke, Ma Yun actually became angry.
This is not because he cannot control his emotions, but because he and Cai Chongxin have been making intensive preparations since the end of last year to find a good strategy to expel the Xu family.
Be your own boss.
So he often looks for opportunities to dilute Xu Liang's equity.
Yahoo’s financing was the means they prepared with great concentration.
But Xu Liang was unwilling to dilute life and death, so they had to find another way.
CIC is the second method they thought of.
Their calculation was very good, and CIC was the one to make the big deal. No matter how reluctant Xu Liang was, they still had to give him some face. It would be best if they could clear out all Ahli shares held by the Xu family.
If not, clearing ten or eight points is also a good result.
On the one hand, Xu's shareholding has been reduced, and on the other hand, CIC, a member of the national team, has been introduced. While increasing domestic shareholding, it also has a backer, which can gain many hidden benefits in future development.
As a result, all plans were in vain and not a single goal was achieved.
This inevitably makes Ma Yun, who has always been conceited, a little frustrated.
He let out a long sigh: "Hey, Xu Liang is too slippery to hold back. Once he got on Ah Li's boat, he refused to get off."
The bigger the company develops, the less he wants his superiors to There are still people who are holding back.
Xu, who holds half of Alibaba’s shares, is a thorn in the flesh.
"What are we going to do next? Are we going to expel the Xu family?" Cai Chongxin asked.
"What do you think, we go to him directly for a showdown? Find a syndicated loan to buy back at least half of the equity at a premium."
Ma Yun said with a serious face: "I have calculated that according to Ahri's current business growth rate, the valuation and market value will increase three to five times in three to five years. Even if we spend more money now, we can make it back in the future. "
Cai Chongxin shook his head, "He won't agree. If you can see Ahri's potential, he can also see it.
Ari is doing e-commerce, and he is doing it himself. electricity Shang, no matter who loses or wins, he will be invincible."
"His calculation was so good." Ma Yun knocked on his aching head, "Why did he do it in the first place? Just agree to his financing?"
"At this moment, it can only be said that Xu Liang is too ambitious and will never see the boundaries of his expansion."
Cai Chongxin commented very calmly: "If this continues, he will either build a Morgan-style capital empire, or he will collapse halfway through his business."
Ma Yun nodded: "Well, so do I. Look, most of his industries are not listed on the market, and now he has to get involved in a capital black hole like semiconductors. Sooner or later, there will be problems in the capital chain."
"So. , before it is exposed, we should not make any more unnecessary attempts. If we wait until there is a problem with his industry, our opportunity will come.
Or, when Ahri goes public, he may have one. Action."
Ma Yun nodded lightly, "That's all. Now his foundation is too deep to be shaken."
Even though they said this, they themselves had little confidence.
Boss Xu spent eight years building a huge Xu Group that mixed finance and industry.
Hongmeng, Hanhua, Kanghua, Hynix, and Vidiwang, these world-class giants, are the most powerful pillars of support for the Xu family.
It’s daunting.
(End of this chapter)