Chapter 602 Investment Direction
“With such a low rating, is it too risky?” Jiang Xiaoyang asked worriedly.
"Don't worry. The development of real estate in the United States is now a national policy, and it can't be wrong." Xu Liangxin said.
Others don’t understand, but he doesn’t understand?
As U.S. real estate policies become more and more radical, everyone will be involved in this trend.
If customers who are able to come up with a 30% down payment and pay loans on time now are classified as A-level, then after the major banks directly kick out the down payment in order to find enough people to buy houses, customers who can pay loans stably will be considered A-level. .
But the greed of capital has no limits.
After they discovered that there were no customers for zero down payment and stable payment loans.
They will buy back all the CDO asset packages they have sold before, then dismantle them, re-rate the loans inside, and then package and sell them on the market.
In other words, the B-class CDO bonds purchased by Xu Liang will become A-class in two years; the C-class CDO asset package will become B-class in two years. .
But don’t underestimate this large-scale change. Behind it is a profit of more than one billion or even billions of dollars.
A very simple example.
C-rated CDO bonds can be purchased at only 30% of the book value, or even lower.
Once it becomes B-rated, the value of the CDO bond instantly doubles.
If leverage is added, it is six or seven times the profit.
Really make a lot of money.
Over the years, Xu Liang has shown his outstanding vision in investment time and time again. Listening to his confident words, Jiang Xiaoyang felt a little uneasy, but he didn't say more.
“Fund No. 4 invests globally, mainly in equity and corporate bonds issued by companies in the European luxury goods industry.”
With the increasing number of wealthy groups in China, luxury goods, especially Sales of luxury goods from Europe skyrocketed, eventually accounting for nearly one-third of the global luxury goods market.
The stock prices of Bulgari, Chanel and others have soared.
The share price of Hennessy-Louis Vuitton Group is as high as 410 billion US dollars.
Hermès has become the largest single brand company in the top 10 global luxury goods industry with a market value of US$232 billion.
If it weren’t for the lack of funds in his hand, Xu Liang would have wanted to buy a few brands for fun.
The profits are too high.
“I understand.”
Jiang Xiaoyang definitely agreed.
"How is the growth of Fund No. 2 this year?"
Pacific Fund No. 2, with US$15 billion in June last year, triple leverage, according to 3:2:2 :1.5:1.5 invested in five categories of long futures: crude oil, iron ore, copper ore, gold, and silver.
Now half a year has passed, there will definitely be changes.
“Without leverage, the increase would have been 22%.”
Jiang Xiaoyang's tone was filled with joy.
“It’s quite a lot.”
“The main reason is that the price of oil has risen too sharply this year. When we went long last year in March, we thought it was $32 a barrel, which was too high.
Except for a slight drop after the war, it has now risen to 55 US dollars a barrel, almost doubled."
Xu Liang frowned slightly, he knew that oil would rise sharply, but that was subprime mortgages. After the crisis, in order to survive the crisis, the United States artificially raised oil prices and made the whole world pay.
But it's obviously very early now.
"The price has risen too fast, and it is expected to fall later. Let's reduce our position by 50% first and then look at the situation."
"I think so too." Jiang Xiaoyang said.
“How are other futures performing?”
“Steady and rising, basically no big ups and downs.”
"That's good."
"I remember that the No. 2 fund managed by Lao Sun is about to expire?"
"It will expire in three months."
“How much is he prepared to raise?”
“$3 billion.”
"Old Sun is becoming more and more courageous. Counting the Indian Ocean No. 1 Fund he manages, it adds up to US$6 billion, right?" Xu Liang said with a smile.
"Yes. His Fund No. 2 invests in the bonds of Amazon, Apple, eBay and BlackBerry. Although its performance over the years is not as good as your Pacific Fund, it is still in the top 5 in the hedge fund industry. There is no shortage of investors around the world.
We have not yet started raising funds, and the investment reservation funds received on the website have exceeded 5 billion US dollars. ”
Although Sun Zhenping has been following him over the years. Following suit, he invested in the equity of Internet technology companies, and Sun Zhenping invested in debt.
So after three years, the Indian Ocean Fund has performed very well. Because of the added leverage, the annual net income has been more than 200%.
He has also become the most popular elite in Hanhua's hedge fund department after Xu Liang.
"By the way, Xu Liang. I just poached an elite from Wall Street last month and plan to set up a sub-fund for him under the Indian Ocean Fund."
Xu Liang became interested. The elites that Jiang Xiaoyang can recognize are not ordinary people.
"Elite? Tell me." "I will send you the information in a moment, let's talk briefly now.
The other party’s name is Jiang Ping. He graduated from the University of Science and Technology of China in 1986, majoring in chemistry, and later entered the Institute of Metallurgy, Chinese Academy of Sciences, to pursue a master’s degree;
Goed to study in the United States in 1989;
Received a doctorate in chemistry from Princeton University in 1993;
In 1994, he went to Stanford University to study for a Ph.D. in Finance and became a master's degree midway;
In 1995, he entered the famous investment bank Lehman Brothers.
Initially, he was assigned to the company's worst-performing Latin American foreign exchange trading unit.
The economic crisis broke out in Mexico this year, and many investors evacuated, causing the peso to fall sharply against the U.S. dollar.
However, Jiang Ping, with his unique sensitivity to data, discovered that the Mexican currency was seriously undervalued and had strong room for appreciation, so he bought it aggressively.
Sure enough, after surviving the crisis, the peso rebounded strongly, and the Latin American foreign exchange trading department that Jiang Ping was responsible for became Lehman's most profitable department.
From 1995 to 2004, the world's famous economic crises came one after another. However, Jiang Ping's investment performance has been between 30% and 40% to more than double, making him one of the traders who contributed the most to Lehman. ”
Xu Liang smiled and said: "Lehman is willing to let such an outstanding elite go?"
"Although Lehman is reluctant to let go, they cannot cross the threshold of 'discrimination against Chinese Americans'. According to the rules of Wall Street, fund managers' The share is generally 10% to 15% of the performance, but Jiang Ping makes the most money, but the share he gets is less than one-third of this ratio.
So when we extended an olive branch and agreed. After setting up a US$1 billion hedge fund for him, he agreed to change jobs.”
“You’re willing to do it for US$1 billion?”
Jiang Xiaoyang said with a smile. Golden Caesar has made 17 billion U.S. dollars for the company in a year, so I don’t want to give it up. Besides, the company also needs a hedge fund talent who can support its appearance.”
"Doesn't Lao Sun and I count?"
"You have so many things to do, you have to be busy with Hongmeng, Jianlibao and Hongyan. 70% of your 100% energy cannot be used in Hanhua. I can't keep counting on you.
As for Lao Sun, this guy will follow you every day after getting a taste of it. Who knows if he is really capable?" Jiang Xiaoyang complained.
Xu Liang thought for a while, and it was true.
There really aren’t any top talents in Hanhua’s hedge fund department.
"Just recruit this Jiang Ping according to your idea, and give him the best treatment." Xu Liang said.
"Yes. I will arrange for you to meet when you come back."
"Okay."
"How do you plan to invest in Qinglong Fund?"
< br>"Same as Pacific, the US$60 billion is divided into six funds No. 1, No. 4, No. 5, No. 6, No. 7 and No. 8, each fund is US$10 billion.
Qinglong No. 1 Fund continued its previous investment and bought shares in Nvidia, BlackBerry, eBay, Yahoo, Qualcomm, Oracle, and Intel.
In addition, Japan’s Rakuten and the United States’ Netflix are included.
Fund No. 4, invests in the US biopharmaceutical industry. ”
Because the Internet is closely related to the general public, everyone knows that the Internet is developing rapidly, but they do not know that the biopharmaceutical industry is also rising rapidly.
Its scale is not smaller than that of the Internet. .
Xu Liang heard it from the lecturer when he attended investment company training in his previous life, but he had forgotten the specific company name.
But it doesn't matter. If you can't remember the specific company, you can always make money by investing in the fundamentals.
"Fund No. 5 invests in the IT industry, including Samsung Semiconductor, STMicroelectronics, Texas Instruments, Renesas, ON Semiconductor, GlobalFoundries, Semiconductor Manufacturing International Corporation, Western Digital, and Kioxia. In short, the top 20 companies in the world Invest in all semiconductor companies except those that Fund 2 has already invested in.”
“Fund No. 6 invests in telecommunications, mainly in Europe and the United States.”
Qinglong 3, a Chinese telecommunications company. Funds are basically invested.
"Fund No. 7 invests in finance, and all the top investment banks and banks on Wall Street have invested in it."
With the real estate explosion in the United States, banks and investment banks are eating the most meat, especially investment banks. The mouth is full of oil, and the stock price will naturally skyrocket.
The current share price of Goldman Sachs is just over 20 billion. Before the subprime mortgage crisis, it had swelled to nearly 80 billion.
It can be seen how much they have earned in these two or three years.
"Fund No. 8 has invested in South Korean cosmetics companies, Japanese Toyota and Honda car companies, as well as Uniqlo, Unscrupulous Printing, Shiseido, etc. I will send you the specific list when the time comes."
< br>
With the popularity of Korean dramas in China, South Korean cosmetics are making a lot of money. One of his classmates is an overseas purchasing agent for South Korean cosmetics.
In just two years, I saved a house in the Third Ring Road of Beijing.
You can see how much money you can make.
However, Bangzi is not clear-headed. Even though the market is all in China, he still praising the United States. A ban on South Korea has triggered a big setback for South Korean products in the Chinese market, causing heavy economic losses.
But a colony is just that.
Pai Hai later in the book is the same thing as Sade in Bangzi. In essence, they both contribute to the master.
Xu Liang can't control this. He knows that the revenue of South Korean cosmetics, Japanese automobile industry and precision machine tool industry will skyrocket with the development of China's economy.
As for Uniqlo, Unscrupulous Printing and Shiseido, they were all cases that he remembered deeply when he attended lectures in his previous life.
Listening to Xu Liang's talk, Jiang Xiaoyang felt relieved.
It can be seen that he has really considered it seriously and is not doing it randomly.
Counting the $20 billion managed by Fund No. 3 and the $3 billion managed by Fund No. 2.
(End of this chapter)