My 1999

Zhang Lei and Ma Ziming looked on with smiles, feeling uneasy inside.

Zhang Lei felt sour in his heart. You must know that when Xu Liang invested in Hillhouse, he only gave a total of 50 million US dollars.

Ma Ziming looked enviously at his friend who was four years younger than him. He had reached the pinnacle of his life after changing jobs once!

After settling Zhao Peng's matter, Zhang Lei did not forget that there was a little brother beside him who needed to arrange matters.

"Mr. Xu, Ma Ziming plans to set up his own hedge fund and wants to find Hanhua... to raise funds."

As he talked, Zhang Lei didn't feel confident anymore. This matter was completely different from Zhao Peng's handling of 100 million US dollars. Ma Ziming's resume and past achievements were much worse than Zhao Peng's.

When a 28-year-old young man wants to set up his own hedge fund, the first impression is that he is too young, inexperienced and not safe enough.

Ma Ziming looked at Xu Liang expectantly, hoping that Mr. Xu would also give him $100 million: use it to practice his skills.

However, he knows this is a luxury. If he can invest 10 to 20 million US dollars, he will be very satisfied, because he can transform from a wage earner to a boss and start his own legendary road.

Xu Liang thought briefly and then agreed.

The advantages brought by foresight will become less and less helpful as time goes by.

Planning in advance, especially funds that have proven themselves in previous lives, is the most appropriate choice.

Diversify investment risk, trickle down.

"Lao Zhang, tell you the conditions I gave him originally?"

"Senior Brother Zhang mentioned it to me," Ma Ziming said quickly.

"If you agree, I can give you the same opportunity."

Ma Ziming thought about it briefly and then agreed.

US$3 million was used to acquire 30% of the equity of ‘Snow Lake Capital’ which was still on paper, and then an additional US$50 million was invested in it.

Ma Ziming was excited. With Hanhua's tiger skin, it would be easy to raise funds later.

"Thank you, Mr. Xu. I will definitely do my best to create the highest return for you."

Xu Liang nodded with a smile and said no more.

Seeing two little brothers achieve what they want.

Zhang Lei was happy and expressed his demands directly.

"Mr. Xu, Gao Ling obtained the QFII Qualified Foreign Institutional Investor qualification last year and began to invest in A-shares. Later we want to raise a RMB fund. Can...?"

"Hanhua invested in Gao Ling, is 200 million yuan enough?"

Zhang Leile smiled brightly, and he spent all his efforts to recommend talents to him.

"Thank you, Mr. Xu, that's enough."

With the golden names of Golden Caesar and Hanhua, raising 1.8 billion is not just a waste of money.

After Xu Liang entertained the three of them for a lunch, he sent Zhang Lei and Ma Ziming away.

Then Zhang Peng was asked to apply for the job, and after consulting his opinions, he was asked to join Hanhua's New York office and be responsible for an independent quantitative trading hedge fund with an initial capital of US$100 million.

——

Home in the New York Plaza Hotel penthouse in midtown Manhattan.

Xu Liang was wearing sunglasses, with his muscular upper body naked and his legs crossed, lying lazily on a deck chair on the terrace.

Basking in the warm sun above his head, sipping the fragrant red wine in his hand, and admiring the boundless view of Central Park downstairs, he felt quite good after taking some time off from his busy schedule.

A few days ago, I spent US$54.5 million to buy this top apartment in New York with an area of ​​more than 500 square meters.

Although he has no shortage of luxury houses in New York, he still wants to get a few more. After all, this place is too dangerous, and Cunning Rabbit Sanyao is a good choice.

The housing prices in Manhattan are strange, as if they have nothing to do with the U.S. real estate market trends and policies.

Nowadays, the price of ordinary houses across the United States has plummeted to the bottom of the barrel, and it is impossible to sell it. However, the top luxury houses in Manhattan have not fallen but have risen.

Last year, the house only cost 50 million US dollars, but this year it suddenly cost a fraction more.

The previous landlord also plausibly said: Each penthouse apartment next to Central Park is limited and is a luxury product, a symbol of status...

Xu Liang made some inquiries and found out that the prices of top mansions in Manhattan and even the top mansions in Beverly Hills in California have generally increased.

This is a true portrayal of a society that is dying of drought and dying of waterlogging. The gap between the rich and the poor is serious.

"My dear, take a look, is this suitable for me to wear to the banquet tonight?"

Xu Liang looked back and saw Helen opening the door and walking out.

She is wearing a Versace haute couture bare-shouldered tube top evening dress, with exquisite collarbones, tall and straight breasts, and a slender and sexy waist that is perfectly displayed, giving people the impression of long legs from the waist down.

Seeing that Xu Liang was silent and staring straight at her, the corners of Helen's mouth raised slightly. She had always been very confident about her figure. The reaction of the man in front of her greatly satisfied her vanity.

"Haven't seen enough?"

Helen walked up to Xu Liang, bent down and whispered in his ear, and breathed a few suggestive breaths.

"ah……"

With a scream, Helen was pulled down into Xu Liang's arms, and the latter slapped Helen's plump and round buttocks hard.

"Don't move. My family is an old Chinese medicine practitioner. I have a set of massage techniques that specialize in treating various bruises and injuries."

Helen looked at Xu Liang doubtfully and allowed him to do whatever he wanted.

After a while, the recliner began to creak.

The bird squatting on the eaves not far away was overstimulated, flapped its wings and flew downstairs to the Central Park to find its companions.

…

More than half an hour later, Helen went into the room and changed into a purple dress and walked out again: "This is the only one in the closet. Don't break it anymore."

"Just buy it again another day." Xu Liang said.

Helen didn't dare to play any more tricks and sat down opposite him seriously.

"Dear, is the subprime mortgage crisis really as severe as you said in the newspapers?"

"That's not what I said."

"Dave is your partner at Hanhua. If you didn't agree, would he express his bet on subprime debt in public?"

Dave is Chu Gang's name in the United States.

"What is there to be afraid of? The United States is a country that advocates freedom of speech. Dave's words only represent himself, not the entire Hanhua, let alone me."

Xu Liang smiled.

"But having said that, I am really not optimistic about the future of subprime mortgages. ...But why are you so curious about these things? Did Reid and the others ask you to ask?"

Helen nodded directly, "They did ask me to ask for your opinion. But mainly I know it myself."

"Why?"

“As you said, Xu’s company in the United States cannot be just Facebook.

If the subprime debt market outlook continues to perform poorly, then the country's financial sector, especially bank stocks, will definitely experience a sharp decline.

Now we have a lot of money in hand.

When these bank stocks fall completely, we can take the opportunity to invest. "

Seeing the woman's shrewd look, Xu Liang smiled.

"The strength of the workplace in the past few years has really allowed you to grow a lot."

Helen smiled charmingly and sat directly in his arms.

"This is also a good thing for you to cultivate."

"If you pick it up, don't rush. Accompany me to attend a banquet tonight, and then go back tomorrow to celebrate Hannah's birthday."

The reason Helen came to New York, besides being here, was to celebrate the birthday of her mother, Hannah Monteith.

Throughout the Montes family.

Her relationship with other people was not very good, even her father Reed was cold and silent.

I only respect my mother.

Xu Liang also has a very close relationship with this old mother-in-law. Ever since he and Helen gave birth to a child, this old mother-in-law has often come over to help.

He is also very kind to his two sons.

Therefore, whenever the old lady celebrates her birthday, as long as he is in the United States, he will attend it in person.

Same this time.

"What party?"

"You'll know when we get there."

The two had a lot of fun at home. In the afternoon, Xu Liang accompanied Helen to get her hair done, and then the two of them took a car together to the venue of the evening banquet.

We got off the bus in front of a white building between 69th Street and Park Avenue.

It is not easy to retain such a low-rise building in New York, where land is at a premium. There are skyscrapers all around, but the small building in front of you only has six floors and looks very unique.

"Is this where the banquet is held?" Helen asked.

"Have you been here?"

"I've been here a few times and there's nothing worth remembering here except the ugly transactions."

As the legitimate daughter of the blue-blooded aristocracy ‘Montes Family’, although the New York United Club is known as the oldest and most elite club in New York, it is out of reach for 99.99% of people in the United States.

But for the top blue-blood nobles, it is obviously an exception.

"Let's go."

After showing the invitation to several security personnel in suits and ties at the door, the group opened the somewhat weathered door, and Xu Liang walked in with Helen on his arm.

As soon as you enter, you will find that the interior of the magnificent hall and the ordinary exterior walls of the building seem to be two different worlds.

Looking at the famous paintings hanging on the wall in the corridor, Xu Liang smiled and said: "How does it feel to visit the old place again?"

"I haven't been here for many years, but this place is still the same as before."

Xu Liang smiled and didn't say much.

Under the leadership of the waiter, the two came to the fifth floor.

Dozens of men and women have already gathered on this floor, chatting in small groups holding wine glasses.

"Dear Xu..."

Xu Liang followed the voice and looked over. Goldman Sachs CEO Blankfein was walking towards him with a smile on his arm, his wife.

After a few words of greeting, Helen was taken to a group of ladies by Blankfein's wife, while Xu Liang followed Blankfein to a group of old men.

Blankfein introduced with a smile: "Let me introduce to you, this is Xu, CEO of Hanhua Group."

"welcome……"

Most people raised their wine glasses and greeted Xu Liang, but a few people had indifferent expressions and did not make any movement with their hands.

"Xu, while you accuse Wall Street of speaking out for its own interests, you also badmouth the capital market. Your behavior... is very interesting."

Richard Fuld, CEO of Lehman Brothers, took a sip from his glass and spoke in an understatement, but anyone could hear the sarcasm in his words.

While scolding Wall Street for being a bitch and erecting archways, he himself is doing the same thing.

The others looked at Xu Liang with smiles on their faces, wanting to see how he would respond.

"If the subprime mortgage crisis continues to blow, those institutions that are hanging on will definitely pay a heavier price. If you give in early and leave the market, you can stop the losses. If you join our side, you might be able to turn defeat into victory."

Xu Liang said calmly: "I am also doing good things, but many media and institutions do not understand us."

Richard said with a smile: "According to what you said, many institutions should thank you."

Xu Liang more or less knew where Richard's hostility originated. The Fed's step to rescue the market at this moment was a great thing for Lehman Brothers, which held hundreds of billions of dollars in subprime mortgage bonds.

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Under ideal circumstances, Lehman might be able to turn defeat into victory, or at worst, be able to cut its losses.

But now that Hanhua Group has jumped out to cause sabotage, it naturally stands on the opposite side of Lehman.

As the saying goes, the butt determines the head, and Richard and Xu Liang didn't have a close relationship to begin with, so he became more and more displeased with the boy in front of him, and he was also rude in his words.

After thinking about this, Xu Liang had a little more understanding and sympathy for Richard.

But Lehman's misfortune has nothing to do with him.

If Lehman continues to mess around, even if he doesn't suffer any disaster this year, he will be in bad luck sooner or later and there will be no escape.

Richard didn't reflect on himself, and by hearing this tone, he was actually complaining that he was nosy.

However, Xu Liang was not angry and said calmly: "There is no need to thank me. What you should really thank is the market. The market is the green dollar."

Richard sneered twice and, out of consideration for his demeanor, did not talk to Xu Liangduo about this matter.

Xu Liang sat down on an empty seat and looked at these old white men.

In addition to the CEOs of large investment banks such as Goldman Sachs, Morgan Stanley, and Lehman Brothers, almost all the leaders of hedge funds were also present.

Bridgewater Dalio, AQR Capital Asness, Renaissance Fund Simons, Castle Investment Griffin, SAC Capital Cohen, Millennium Fund England...

Probably because he knew about his grievances with Soros, he didn't see anyone from the Quantum Fund here.

Xu Liang also saw Paulson, who was sitting next to Dalio in Bridgewater, and the two were having a very intimate conversation.

Seeing Xu Liang coming back, Paulson nodded slightly to Xu Liang.

"Are you familiar with Xu?"

Ray Dalio shook the red wine in his glass and asked with a smile.

He nodded slightly to Dalio: "That's right, Xu is an LP of Paulson Fund."

Dario smiled and didn't ask any more questions.

"Xu, Hanhua Group has made a lot of money this time. Billions of dollars in revenue are about to be recorded."

Mack's words aroused a lot of interest among the people present, and Dalio smiled and answered: "Xu, you have achieved such brilliant results in your twenties. You can be called the most talented financial person I have ever seen." young people.”

"Thank you. Bridgewater has always been a learning partner of Pacific Fund."

Dalio has a certain fondness for China. His son went to elementary school in Beijing in 1995. In the past few years, he established a "China Care Foundation" and helped many orphans in urgent need of special care.

No matter what the purpose was, Xu Liang had a certain fondness for this person.

Feeling the kindness in his words, Dalio's smile became even brighter.

"Bridgewater's performance in recent years has not been as good as yours, Pacific Ocean. We need to learn from you, and we are learning from you."

Dario looked at Xu Liang with a smile, and he smelled the same kind of scent on the latter.

If Buffett is classified as a decent person who pays more attention to food and appearance, then they are a devil's sect who never stick to investment methods and always put the rate of return first.

Seeing Dalio's enthusiasm, Xu Liangliang realized something, so he started chatting with Dalio.

However, there were too many people talking around, and no one talked about anything substantial.

After a while, the dinner officially started.

Xu Liang was burying his head in cutting steak. Helen, who was sitting opposite him, whispered: "The most powerful people on Wall Street should be here today, right?"

"What do you want to say?" Xu Liang glanced at her.

Helen smiled and said: "When I came here before, I was usually with some second-generation blue-blood nobles. This is the first time I have attended a banquet like this that brings together almost all the top figures on Wall Street.

Honey, you are amazing! "

A woman's sincere admiration and admiration are the most delicious food for a man.

Xu Liang felt very comfortable after hearing this.

After the dinner, Xu Liang followed Blankfein and Mack to a cigar room.

"Xu, congratulations. I believe it won't be long before Hanhua Group becomes the top financial institution on Wall Street."

As he spoke, Blankfein was filled with emotion. Hanhua Group has risen too fast. It is probably the fastest-rising large financial institution in the history of Wall Street.

It has been less than eight years since its establishment.

It is less than a fraction of the age of the five major investment banks.

But the other party is already a huge financial giant with operations all over the world, nearly US$300 billion in funds under management, and more than US$400 billion in assets.

Mak Jinheng also lamented that no one can ignore the development of Hanhua Group.

When Xu Liang heard it, he didn't think that these words were just emotions.

“Hanhua’s rapid development over the years is inseparable from the help of JP Morgan and Goldman Sachs.

Moreover, the foundation of Hanhua will always be in Asia, in China. "

Blankfein and Mack are both smart people, and they obviously understood his subtext.

Hanhua is developing in China and Asia and will not come to the United States to compete with them for territory.

The two looked at each other and smiled.

They were also very satisfied with Xu Liang's statement.

"Xu, if we encounter difficulties in our business in Asia in the future, I hope you can provide some help." Blankfein said.

"Of course. The global financial market is so big, and mutual benefit is good for everyone."

Xu Liang smiled.

China is not the only one in Asia. When business in other countries can earn benefits but the risks are relatively high, he doesn't mind bringing JP Morgan and Goldman Sachs together.

For a time, all three parties were very satisfied with each other's attitude.

When Xu Liang saw that the heat was almost there, he revealed his intention.

"Several hedge funds under Hanhua's Indian Ocean Fund are about to realize their profits, and we also plan to launch two new funds with a scale of US$5 billion.

I am having a headache for the next wave of investment actions, and I found you today to seek help from the two major investment banks. "

Blankfein and Mack looked at each other, and both smelled something unusual.

"What kind of help exactly?"

Xu Liang looked at Mai Jinheng who was speaking with a smile, "I need financing."

As if he had guessed what Xu Liang was thinking, Mai Jinheng asked calmly: "How much do you need?"

Xu Liang said nothing and gestured with five fingers.

"Five times leverage, that's no problem."

After saying that, Mai Jinheng suddenly realized, No! Their investment bank has given Hanhua Group this leverage multiple.

"It can't be fifty times, right? Xu, do you want to trade foreign exchange?"

As he spoke, Mai Jinheng himself laughed.

Blankfein looked at Xu Liang with suspicion, while thinking quickly in his mind.

Suddenly, Blankfein seemed to have thought of something, his eyes widened, and he asked in an uncertain tone: "100 billion U.S. dollars?"

"Yes, a $100 billion stock position!"

Xu Liang looked at the two of them with a smile.

"How about it? Is this a living thing? The stock transaction fees and financing interest returns will be a very considerable number."

Although Hanhua Group is already very large, its investment in the United States is still inseparable from the five major investment banks.

You must go through their platform to successfully conduct huge transactions.

Mack shook his head repeatedly and said solemnly: "It's too high. Two funds using 10 billion US dollars to leverage ten times the leverage are too risky."

"Xu, including the warning line, you don't need to actually reach a 10% stock price fluctuation. It only takes a few points of fluctuation, and your $10 billion will directly evaporate from the market."

Blankfein said in a serious tone, "I know you want to short the stock market. Even if the subprime mortgage crisis continues to expand as predicted by Hanhua Group, a 10% stock price fluctuation is still very easy to occur.

If there is someone competing against you, the risk of liquidation is even greater. "

Xu Liang smiled and said, "You two have misunderstood. Even if you give me ten times the leverage, I wouldn't dare to use it.

In addition to the two new funds totaling US$10 billion, there are also income from the two funds, as well as part of Hanhua's own funds, and the guaranteed deposit will reach US$20 billion. "

Mai Jinheng's expression became calmer, "Oh, does that mean it's still five times the leverage?"

He thought for a moment and shook his head.

"The risk is still too great. Short positions worth hundreds of billions of dollars, if there is a big market fluctuation, there will be a lot of liquidation movements, and the position is likely to be liquidated."

"It's not very likely, it's definitely!" Blankfein said with certainty.

“Isn’t this the same leverage ratio as before?”

Mai Jinheng glanced at Xu Liang, "Let's not talk behind the scenes. Although there were problems in the subprime bond market before, at least it was still prosperous on the surface. In this case, even if the position is closed, it will not cause fluctuations in the market. .

You now have hundreds of billions of dollars, plus the funds that Hanhua has shorted, the quantitative change has caused a qualitative change. "

Blankfein nodded in agreement: "Yes, Xu, it's not that we don't want to help. We can't afford such a big thing."

Xu Liang sighed, "What about using the financial investment tool "Total Return Swap"?"