Chapter 723 Thain Capital
“May I ask your name?”
“Michael Barry.”
“Please wait.”
Front Desk Secretary I called and inquired and then put down the phone.
"Please come with me."
Take him upstairs to Xu Liang's office, knock on the door and enter.
"Mr. Barry, welcome to Hanhua."
Looking at the man in front of him who was wearing a hooded sweatshirt, black sweatpants and travel shoes, his left eye was obviously dull, Xu Liang smiled. Stretched out his right hand.
“Hello.”
Just two words, no more.
Xu Liang didn’t think so either.
After reading the information, he understood this man's past.
Born in 1971, he unfortunately had his left eyeball removed due to cancer when he was 2 years old, and has since been fitted with a glass prosthetic eye.
As a result, he was often teased by his peers, and his character began to become withdrawn.
Many years later, he discovered that he actually suffered from Asperger's syndrome.
This is a kind of autism, withdrawn and paranoid, with social difficulties, but extremely devoted and focused on things that interest you.
It is worth mentioning that many people in this type of disease group have very high intelligence, and it is obvious that Barry is one of them.
How to say that sentence.
When God closes a door for you, he will open a window for you.
Barry had a natural affinity for knowledge about the stock market.
I started practicing in the stock market in middle school.
But his father is a conservative mechanical engineer.
He has been told since he was a child that the stock market is very dangerous and he should not place his future on gambling and probability.
For ordinary children, this kind of teaching is correct, but for geniuses it is obviously wrong.
However, under the influence of his father, Barry decided to pursue a career in medicine.
But interest is like a raging hormone that cannot be turned off.
Barry, who has a very high IQ, studied economics and pre-med at the University of California, Los Angeles.
The focus is on economics.
This is obviously a choice based on my own love and interest.
In 1996, Barry became an intern at Stanford Medical School.
What follows is a plot that often appears in many financial entrepreneurship novels.
But the novel is a novel, and people really turned the plot of the novel into life.
Although he chose doctor as a career, he would go home and trade in stocks every day after get off work.
At the same time, he will also publish his stock trading experience on a stock forum called ‘SiliconInvestor’.
He would write about his actual operations on the forum and share his ideas and deductions. Barry's thinking and trading abilities quickly made him a "big V" on the forum, with many fans.
From 1996 to 2000, Barry worked during the day and studied financial investment at night, becoming a professional amateur investor.
The turning point occurred in 2000.
Due to long hours of seeing doctors during the day and concentrating on stock research at night, Barry was exhausted from such a high workload.
Once, on a very important operating table, Barry fell asleep standing up and fell on the oxygen tent around the patient. He was kicked out of the operating room by the angry attending doctor.
And in this year, Barry's father passed away.
Father is the person Barry respects the most and is also his role model of values.
The occurrence of the two incidents made Barry very sad. After repeated weighing, he decided to end his career as a doctor and start a full-time investment path.
In November 2000, Barry founded Sion Capital. The company's name was taken from his favorite book "The Descendants of Sarana".
It is worth mentioning that the investors of Scion Capital are basically fans of his forum.
If not the earliest, it is also the very early economic reality version of Internet fans, no, it should be said to be the financial version.
Next is Thain Capital’s shining moment.
In 2001, the Standard & Poor's fell 11.88%, and Scion Capital Fund rose 55%.
In 2002, the Standard & Poor's fell 22.1%, and Scion Capital Fund rose 16%.
In 2003, the Standard & Poor's finally rose by 28.69%, while Scion Capital Fund rose by 50%.
By 2004, Scion Capital's capital reached US$600 million.
"Please sit down."
"Thank you."
After sitting down on the sofa in the reception area, Lu Hui served tea.
“Mr. Barry, I have always admired outstanding people and hope to work with them to create more value for each other.
In my opinion, you are a genius in financial investment, with a talent that is incomparable to ordinary people. ”
No one doesn’t like to hear good words, especially the affirmation from Xu Liang, a successful financial tycoon.
A smile appeared on Michael Barry’s somewhat stiff face.
< br>“Thank you very much for your affirmation. ”
He is not good at words and cannot pile up gorgeous rhetoric.
Xu Liang smiled and said: "I heard that Thain Capital has encountered some difficulties recently?"
Michael Barry's face became ugly.
Recently, he discovered that the U.S. subprime mortgage market has developed to a crazy level, so he wanted to short subprime debt.
But as Xu Liang discovered before, subprime debt cannot be shorted directly, but must be gambled through credit default swaps.
What Michael Barry wants to do is to clear out all positions of Thain Capital and put all investments into credit default swaps on subprime debt.
But his strategy was strongly opposed by almost all investors. Because the U.S. real estate market has never seen more than 6% of supply cuts in the past half century or so.
No one believed his theory that the U.S. housing market would collapse.
I just feel like this damn guy has gone crazy.
So after the two parties communicated several times and broke up, investors from Thain Capital began to withdraw their capital.
Xu Liang saw the change in his expression and smiled.
“If Mr. Barry doesn’t mind, Hanhua can invest US$1 billion in Thain Capital, and we will also support your investment in real estate subprime debt credit default swaps.”
< br>Michael Barry was stunned for a moment.
"Mr. Xu is not optimistic about the U.S. subprime mortgage market either?"
Xu Liang nodded and said: "Now home finance companies and banks have begun to provide financial assistance to the homeless on Eighth Street. Anyone with a normal IQ knows that these people cannot afford a house.
It’s just that everyone is indulged in a game of drumming and passing flowers, and they all think that they will not be the unlucky one.
But countless historical experiences have proven that most people will die miserably in this fool's game. "
Michael Barry's eyes lit up, and he felt like he had found a close friend.
"Mr. Xu, Hanhua is also shorting U.S. subprime mortgages? "
"Not yet, now is not the time. ”
"Why?"
"Mr. Barry, everything needs a process from its beginning to its collapse. The current subprime mortgage in the United States has just entered the edge of madness and is far from being destroyed.
So, it is a bit early to enter this market. The second half of next year or the first half of 2006 is more suitable.”
“In this case, why do you still invest in Thain Capital?”
"Because I appreciate your talent and don't mind bearing losses for a few years.
And there are many smart people in this world, and I don’t want my hesitation to give others an advantage. "Xu Liang smiled.
"You are very frank. ”
“Time is precious, and candid communication can save each other precious time and energy and improve the efficiency of investment. "
After a pause, Xu Liang continued with a smile.
"If Mr. Barry doesn't mind, Hanhua can make additional investment in Thain Capital and acquire 30% of Thain Capital. At the same time, I can also guarantee you that no one will interfere with Mr. Barry’s investment strategy. ”
The favorable conditions made Michael Barry instantly excited.
"Mr. Xu, I need to think about it before I can give you the answer."
He is a cautious person. Although he agreed in his heart, he still wanted to calm down and reconsider the gains and losses.
"Of course. You have plenty of time to think about it."
"Thank you."
"You're welcome."
After taking Michael Barry to visit the Hanhua North America office area, Xu Liang sent him away.
After watching the car drive away.
“What’s going on with Qiandian Partners?”
Qiandian Partners is also a company similar to Thain Capital that is preparing to short U.S. residential mortgage loans.
"Steve Eisman has agreed."
"$1 billion, 30% of the shares?"
"Yes."
Because Qiandian Partnership The company and Thain Capital are both hedge funds, so they are different from Thiel Fund, Capital Today, and H&H Investment, which was just established by Duan Yongping.
The latter three are all venture capital funds or private equity funds, and the hedge fund department is operated by Hanhua itself.
The first two are only responsible for investing money, not for management.
Xu Liang nodded slightly and thought to himself.
“There are already five.”
However, compared with the astonishing profits during the subprime mortgage crisis three years later, the five white gloves are still a little less.
“It doesn’t matter, I still have enough time.”
——
The weeping low voice finally calmed down after a muffled groan.
Xu Liang looked at the two women lying on the bed, like dehydrated fish ashore, with only breathing left. After exhaling with satisfaction, Xu Liang carried them into the bathroom one by one.
After washing myself, I went to bed and lay down.
Xinmei Fukuda still had her legs together and her butt raised, feeling the rhythm of life.
Masami Nagasawa, who gradually got used to Xu Liang's size, blushed and was filled with satisfaction.
Holding the two mermaids in his arms, his big, rough hands ran across the shiny brocade-like skin, rubbing the plump silver basin, and his heart was filled with a deep sense of satisfaction.
Dingle bell….
The mobile phone placed on the bedside table suddenly rang.
Xu Liang took it over, took a look, and pressed the answer button.
"Mr. Xu, Morgan Stanley CEO Mr. Dudley and Goldman Sachs CEO Mr. Henry Paulson have arrived in San Francisco at three o'clock this afternoon and are currently staying at the Waldorf Astoria Hotel.
When will you arrange for them to meet you? ”
Lu Hui’s voice came from it.
"The meeting will take place at the headquarters of Hanhua North America Branch at 9:30 tomorrow morning."
"Okay."
"Also, Mr. Michael Barry from Thain Capital called and said that he was willing to accept a US$1 billion investment from Hanhua, but he was only willing to sell 20% of Thain Capital's shares."
"Agree He asked Lin Junrui to sign a contract with him for me. "
It doesn't matter to him how much the shares of Thain Capital are, the key is that this white glove that suits his investment direction is valuable.
“Okay.”
(End of this chapter)