Chapter 702 The Subprime Mortgage is Going Crazy
“Can I buy you a drink?” Xu Xin said with a smile.
"A glass of lemonade."
Wait for the waiter to bring the water.
"Sister Xu, how have you been during the past six months of rest?"
After leaving Hanhua and founding Capital Today, Xu Xin did not start working immediately, but took a vacation for himself first.
“It was okay at the beginning, but later on, I became uncomfortable with being too leisurely.”
“Haha, all strong women are like this.”
“ Isn’t that the case for you?”
“Of course not. Now I put life first and make money second.”
Both parties signed a contract and signed a confidentiality agreement.
But if Xu Liang makes money through Capital Today, Capital Today can get a 5% return.
Third, 5% revenue sharing is too little, I hope it can be mentioned as 10%. "
"First, second, no problem. Article 3 is absolutely impossible.
Of course, Capital Today is not the only one.
However, the shell company lacked business support and could not withstand investigation.
After Xu Liang finished speaking with a smile, the conversation changed.
Second, sign a supplementary agreement.
After saying that, Xu Liang picked up the lemonade next to him and drank it by himself.
After having lunch together, Xu Liangcai said goodbye and left.
Although shell companies can hide part of it.
Sitting in the car, looking at the agreement in my hand, I felt relieved.
Sister Xu, I am not taken advantage of.
That’s why he wanted to cooperate with Capital Today and let it become his white glove.
"I'm sorry. To ensure safety, we cannot allow any outsiders to join."
"Sister Xu, you also said that Hanhua's shares are only 30%, not 51%."
After all, this is a capitalless transaction.
After testing Xu Liang again and seeing that he still wouldn’t let go, he decisively agreed.
"Sister Xu, how have you considered what I told you last time?"
"Xu Liang, today there is 30% of Hanhua's shares in the capital."
Just last month, she received an email from Xu Liang.
Looking at his lack of energy, Xu Xin sighed inwardly.
In other words, today's capital does not need to worry about anything except its name.
Xu Liang made a continue gesture.
“Xu Liang, can Capital Capital invest with you today?”
"I can cooperate with Hongyan, but I have three requirements."
"I got one."
Xu Xin was not surprised by this result.
Don’t say 5%, even 1%, there are countless organizations chasing it.
But the benefits are so exciting, who doesn’t want more?
It's a pity that she can't exchange more cards.
You also know the revenue level of Hanhua's hedge fund department. Capital Today wants to take away 10% of the profits without paying anything. There is no such good thing in the world.
If I switch to other funds, I will give them 2% at most. "
"First, I want to supervise the finances and ensure that our interests are not lost.
All losses caused by your investment have nothing to do with Capital Today, and we do not bear joint and several liability.
After several successful investments, Hanhua and Hongyan have become famous in the global capital community, but they have also become the focus of others' attention. If you want to make some investments, it is almost difficult to hide it from others.
And the 5% is already the discount I gave you because of our past cooperation.
The other party wants to cooperate with Capital Today.
With Hanhua’s investment ability in hedge funds, if the news is exposed, there will be a lot of investment companies around the world that choose to cooperate with him.
Take a slight breath.
Today's Capital has established a "hedge fund" department in Xiangjiang, but this department, from personnel to funds, is all controlled by Xu Liang's Hongyan.
Xu Xin stopped smiling.
He will also prepare more white gloves.
However, specific choices must be carefully considered.
Go home.
After playing around with the two little guys for a while, Qiao Yuhui also got off work.
Behind her was a beautiful woman wearing a dark blue skirt, a white floral short-sleeved shirt, and a short ponytail.
“Are you off work?”
Xu Liang asked.
After nodding towards him, Qiao Yu would turn her head.
"Let me introduce to you, this is my new assistant Zhang Junning. ...Junning, this is my husband."
"Hello, Mr. Xu, I am Zhang Junning."
"Hello." After a brief look, Xu Liang turned his head and said, "You guys are busy first. I'm going to get toys for Xiao Jinzi and Xiao Yu'er."
"Yes."
After Xu Liangyuan left, Zhang Junning breathed a sigh of relief.
"Are you nervous?"
Qiao Yuhui asked with a smile.
“A little bit.”
“Haha, he is not a tiger, don’t be afraid.”
After Zhang Junning nodded, he admired: “Mr. His momentum is so strong that he deserves to be the richest man in the world.”
"That's because you don't understand him. After getting along with him for a long time, you will know that he is an easy person to get along with."
"Yes."
"Come with me."< br>
Took her into the study.
After arranging the work, Zhang Junning left. night.
After an in-depth exchange of information, Xu Liang hugged Qiao Yuhui and lay on the bed after taking a bath.
The latter said after resting for a while and regaining his energy.
“When will you leave?”
“In a week.”
"Where to go?"
"The United States. Some things over there have been delayed for a long time. By the way, the sky-high reconstruction, please pay more attention."
"Yeah. "
After Qiao Yuhui nodded, the conversation changed.
“What do you think of Jun Ning?”
"Your new assistant?"
"Yes. She graduated from the master's class of the Law Group of the Institute of Industrial Economics, Wanwan Central University, in 1982, and is just 22 years old this year. Originally she wanted to be an actress, but later I paid her a high salary I hired her.”
“Is her ability worthy of a high salary?”
“Although her ability is good, it is not as good as those of graduates from the world’s top universities. With her figure and pretty face, if not one in a million, she is at least a high-quality talent."
Xu Liang heard something in her words.
He decisively did not answer the question.
Qiao Yuhui raised his head and glanced at her.
“I heard from Xiaoyang that she found a maid named Fan Xiaopang, and this Zhang Junning is also the maid I found for myself.
Then we will serve together. You."
Xu Liang's big hand slowly caressed her smooth jade back and landed on her plump buttocks.
"Have you and Xiaoyang discussed it?"
"Since I found out that you are a playboy, most of the conflicts between us have been reduced by half.
After all, no one It may occupy your heart.
In this case, why should we treat each other as enemies? ”
“It’s rare for you to think so.”
After his scumbag nature was exposed, Xu Liang didn't bother to pretend anymore.
Whether it is him, Jiang Xiaoyang, or Qiao Yuhui, when they have children, their feelings have given way to interests.
Faced with tens of billions of dollars in wealth, love is nothing.
“Aren’t you forcing me?”
Qiao Yuhui pinched Xu Liang’s leg hard.
"Hey, you're really hard on me."
"It's okay for you to be thick-skinned and thick-skinned anyway..."
——
No. 33, Pak Ka Road, Hongyan Fund Headquarters.
Xu Liang is sitting on the chair in the middle. On his left is Xia Changsheng, COO of Red Rock Fund, and on his right is Qiu Heng, the head of Hanhua Pacific Fund.
Sitting under Xia Changsheng was a middle-aged man in his forties wearing a crisp suit and black-rimmed eyes.
His name is Zheng Yunfei, and he is the director of the consulting department of Hongyan Fund.
Bachelor's degree in Mathematics from the University of Hong Kong and PhDs in financial engineering and mathematics from Princeton University. After graduating, he entered Wall Street and served as the chief financial analyst of Morgan Stanley Research Institute. Later, he returned to the University of Hong Kong as the Dean of the School of Business Administration and majored in finance. professor.
One of the world's top financial industry figures.
Be familiar with the financial policies of various countries.
Hongyan spent a lot of money and energy to invite the other party over.
Putting down the information in his hand, Xu Liang breathed a sigh of relief.
“So, the U.S. subprime mortgage market has completely developed?”
Zheng Yunfei said: “At present, the entire scale of stimulus mortgage loans in the United States has reached 512 billion U.S. dollars, of which more than 400 billion U.S. dollars Enter mortgage-backed securities (ABS).
In 2000, subprime mortgages were only $130 billion and mortgage-backed securities were only $55 billion.
It has quadrupled in four years, and the rate is getting faster and faster. According to the size of the US market, it will definitely exceed US$600 billion next year, and it will only be higher in the future. "
Qiu Hengdao: "I have a question, based on the information. Now the scale of floating-rate loans among all subprime mortgages in the United States has exceeded 50%.
That is to say, half of the people who take loans to buy houses are people who cannot afford to buy a house in the first place.
Now that this part has been developed, it also means that subprime mortgages in the United States are approaching their peak.
No greater growth is possible.
So is $600 billion the peak? "
Zheng Yunfei knew that Qiu Heng was just a simple manager, and his understanding of finance was limited.
He explained.
"Mr. Qiu does not understand the operating rules of subprime mortgages. .
In the eyes of ordinary people, the basic logic of the lending market is: do not lend money to those who cannot afford to exchange it for money.
In the beginning, the financial industry also followed this iron law.
But with financial innovation.
This iron law has been bypassed.
Banks and Home Finance Corporations, which originate loans, make loans, package them into bonds, and sell them to the fixed-rate bond arms of large Wall Street investment banks. These institutions then package the loans into bonds and sell them to investors.
In this process, the loans issued by the bank were quickly recovered, and a little handling fee was also earned, making huge profits.
Risk assets that originally remained on the balance sheet were now moved off the balance sheet in the form of subordinated bonds, bypassing strict supervision.
So, in the bank's own view, they are doing a good business with huge profits and no risk.
In order for this business to continue.
They will continue to look for target customers.
After low-income people who cannot afford housing are developed, they will look for homeless beggars.
There are no more beggars.
They will persuade these people who own houses to buy a second house, a third house, or even more.
Although they also know that this game is dangerous.
But even successful people have a 'lucky mentality'.
No one thinks that they will be the unluckiest one, so they can continue the game with peace of mind.
Now, U.S. banks are still encouraging low-income people to get loans, and have not yet turned their customer base to beggars, let alone three, four, or five mortgages. Therefore, the U.S. subprime mortgage market still has a lot of room for development.
Conservative estimates suggest that it can grow to at least 800 billion, or even 1 trillion. ”
(End of this chapter)