My Age of Investment

   Chapter 1148 Governor of Wall Street

   After the United Kingdom and the United States announced the ban on short selling, a large number of countries around the world began to choose to copy the answer.

The German Federal Financial Supervisory Authority urgently announced a ban on short selling of 11 large financial and real estate stocks, including Allianz Group, Deutsche Bank, etc. Investors already hold short positions exceeding 0.2% of the total share capital of a stock, and must report to the Financial Supervisory Authority reports.

   The Dutch Ministry of Finance announced a ban on naked short selling for the next three months.

   Australia introduced legislation to Parliament to permanently ban naked short selling.

  …

   For a time, there were voices about banning short selling all over the world, as if short selling was the main culprit in causing economic deterioration. As long as short selling was banned, all financial crisis problems could be solved.

  Hong Kong Island is special. Naked short selling was banned during the Asian financial crisis ten years ago, and the ban has not been lifted since then.

   Therefore, in the face of the intensifying financial crisis, Hong Kong Island, as one of the few regions that did not revise short-selling regulations, received world attention as soon as the CEO of the Securities and Futures Commission, Mr. Wei Yili, delivered a speech.

   “Short selling plays an extremely important role in the price discovery process, driving the development of market neutral activities such as hedging, which is critical in mature markets.

   As a regulator, what we want to prevent is the abuse of short selling…”

  Xia Jingxing held the phone and listened to Ye Shuhui repeating Wei Yili's original words on the other end of the phone.

After listening to   , he replied with a smile: "Hong Kong Island is quite stable. We didn't choose to blindly follow the trend and forbid shorting, which is a good thing for us."

   Ye Shuhui said: "Xia Sheng, although Hong Kong Island does not prohibit short selling, it does allow guaranteed short selling, which requires the seller to have borrowed shares, or has obtained confirmation to prove that the lender has genuine shares when selling.

   In addition, the list of companies that can be shorted in Hong Kong stocks is limited, and they are all large-cap stocks with high trading volume.

   When we were short, we had already borrowed a large number of stocks held by institutions, so there are not many stocks that can be lent to the market now.

   The Hong Kong Island Securities Regulatory Commission’s prohibition or prohibition of short selling is actually of little significance. "

   "It's better not to ban. In the past two days, there have been a large number of naked short-selling orders to close positions in the US stock market. The disturbance is not small. In addition, affected by the economic stabilization plan jointly proposed by the Ministry of Finance and the Federal Reserve, the market rose by 11.6%."

  Xia Jingxing didn't say any further, if they didn't take it as soon as they saw it, they would have to take back some of the short-selling profits in the past two days.

   As of today, September 20th, Vision Capital has closed all short positions in the US stock market.

  Whether the $700 billion bailout bill that is being discussed in the House of Representatives can be passed, which is of great concern to the outside world, will not have any impact on their investment in the short term.

   Of course, in the long run, it will still have a certain impact on the investment in stock index futures.

   The United States has banned short selling this time. It is forbidden to sell short stocks, especially naked short selling. It does not prohibit short selling of indexes.

   Therefore, Jiang Ping's team is still watching the trading of stock index futures, with a total position of 20 billion US dollars, and not even a cent has been closed or delivered.

   While Liu Hai’s team has successively closed out a $14 billion short position in underlying stocks and sold some put options, they still hold billions of dollars in put options, some of which will not expire until early next year.

   In the European market, Li Yaozu’s team still holds short positions totaling US$20 billion in Britain, Germany, France and other countries, most of which have not been closed. Goldman Sachs and Morgan Stanley are helping to carry the blame.

   Ye Shuhui's laughter came from the other end of the phone, "That's right, normal short selling is not prohibited on Hong Kong Island, which is of great benefit to our retreat.

At present, we and Tiger Asia Fund are liquidating and withdrawing in an orderly manner. The stocks that we have closed and borrowed will be sold by retail investors. The liquidity in the market can be greatly eased, and the stock price will not be directly taken away. . "

  Xia Jingxing nodded lightly, "You can do this according to the plan, you don't have to rush to exit, the Li family has already been frightened and dare not enter the venue at this time to destroy it."

   "Not only the Li family, but the other three real estate families, as well as SOHO and other real estate companies, did not dare to act rashly when the stock market plummeted."

  Xia Jingxing smiled and stared at the main dish every day, almost forgetting the complementary food.

   He has replenished the Hong Kong Island team twice. Ye Shuhui and the team have a total of 10 billion US dollars and more than 40 billion Hong Kong dollars.

   The main fund of 10 billion US dollars added later is to short the Lai family, and the other 40 billion Hong Kong dollars is taking care of other real estate families.

   In short, everything is arranged clearly, the funds are scattered enough, and the layout is global.

   If the mainland is not included, Envision Capital has invested an initial principal of US$70 billion and HK$40 billion around the world for short-selling, and has a reserve fund of US$4 to 5 billion.

   Xia Jingxing did not own so much money alone. Among them, there were LP contributions, as well as a lot of leveraged loans and equity pledged loans.

   At present, except for Liu Hai and Ye Shuhui's team who are closing the net in a large area, other teams are still waiting for a better time to quit.

   So far, this global hunting operation can only be said to be half completed, or even a small part.

   Involving such a large amount of capital, it took more than half a year to cast the net, and naturally it takes some patience to close the net.

More haste less speed.

  If you recklessly close the net, you will catch a lot of less fish.

   Naturally, Xia Jingxing would not be too anxious. After he explained to Ye Shuhui on the phone, he ended the call.

   A few minutes after he hung up the phone, Liu Xiaoduo knocked on the door and walked in.

After    approached, she handed over a document, "Mr. Xia, there is an email from the New York State Attorney General's Office, Attorney General Mr. Andrew Cuomo wants to invite you to meet."

  Xia Jingxing took the printed email, glanced at it, and murmured, "What is he doing with me?"

   Xia Jingxing suddenly had a very bad feeling in his heart.

   If combined with Cuomo's TV speech two days ago, the other party will find his own purpose and it will be obvious.

   In short, it is impossible to treat yourself to coffee.

   After calming down, Xia Jingxing carefully read the contents of the email.

The    didn't say anything in detail, except that he was instructed to investigate financial companies large and small on Wall Street, and hoped that Vision Capital would cooperate.

   After thinking for a moment, Xia Jingxing replied, "You go out first, I'll call you later."

   After Liu Xiaoduo left, Xia Jingxing called Blankfein and told him that the New York State Attorney General's Office had found him.

After listening to   , Blankfein on the other end of the phone was silent for a few seconds before slowly saying: "Daren, if I'm not mistaken, this guy should be targeting you!"

   Xia Jingxing was not frightened and smiled lightly: "Then what?"

   "Then he will find all possible ways to find your non-compliance, and gain political resources and popular favor by knocking you down or hitting you hard, as capital for his future promotion!"

Blankfein's voice was cold, "Do you know how the former New York governor climbed up? I'm referring to the "Mr. Clean", "Anti-Corruption Fighter" who paid $4,300 to call girls a few months ago. ", Mr. Elliott Spitzer of "Governor of Wall Street."

  Xia Jingxing remembered that a few months ago, US judicial officials determined through telephone wiretapping that New York Governor Spitzer was involved in the scandal of dealing with call girls.

   And the old man/bustress was the woman named Billie who handed Xia Jingxing a business card at the party organized by Paulson last time.

  The company it operates is called "The Emperor's Club", and Spitzer is listed as the No. 9 customer. There was once a rumor that Ou Guanhai was the No. 10 customer. I don't know if it is true, or whether the campaign opponent deliberately smeared this political dark horse.

  Xia Jingxing guessed that it might be the latter. After all, with Aoguanhai’s current economic capacity, he could not afford it, and of course it was not ruled out that someone would invite him.

   "I heard that mommy has a client list in her hand, involving the entire Wall Street high-level and countless political figures. Goldman Sachs will not be involved, right? Make plans early!"

Blankevan laughed twice, "Daren, you are quite concerned about this matter! However, believe me, the list is completely non-existent, and even if it does exist and spreads out, it will be quickly suppressed. Go down, don't worry!"

  Xia Jingxing was stunned for a while, I kindly reminded you to make plans early, can you tell me to rest assured?

  Xia Jingxing felt as if he had been misunderstood, but he was too lazy to discuss these things with Blankfein.

   "Spitzer was New York Attorney General before becoming governor, which is Cuomo's current position.

   During his tenure, this guy became famous in American politics for his efforts to rectify the financial order and crack down on the wrongdoings of business giants.

  Richard Grasso, the former chairman of the New York Stock Exchange, Greenberg, the former CEO of American International Group AIG, and the insurance giant Walmart have all been sued by him.

   But he doesn't really want to kill Wall Street companies, he just likes to use legal threats and actions to force these companies to settle out of court.

   Even so, daring to take a few Wall Street giants and succeeding is enough for the Attorney General to gain huge political prestige.

   The Cuomo guy wants to run for the next gubernatorial if I expect it right.

   Now he has caught up with the good opportunity brought by the financial crisis. If he does not perform well, who will support him in the future election? "

   After listening to Blankevan's analysis, Xia Jingxing nodded secretly.

   Cuomo did exactly this in his previous life, copying the promotion route of the old superior.

   But not only two people like to do this, the Attorney General of New York State likes to do it, after all, Wall Street is a good target.

   You don't even need to hit ten rings, just firing a few shots at random is enough to make the melon eaters applaud.

   The "righteous" public figure who dared to swing a knife at Wall Street stood up.

  Xia Jingxing asked, "Then why is he eyeing me? Just because I'm a foreigner, so I can handle it better?"

   Blankfein smiled, "It is not ruled out that there are reasons for this, and it may be that the performance of Vision Capital in the past two years has been somewhat eye-catching.

   In the past two years, major financial giants have lost a lot of blood, and several hedge funds have made a lot of money. "

  Xia Jingxing frowned slightly, he felt that he was low-key enough, except last year when he showed his face by shorting sub-prime derivatives, this year's second wave of short-selling operations was simply too low-key and could no longer be low-key.

   Even if Lehman Brothers was toppled, a younger brother, Greenlight Capital, was launched.

   Wasn’t it because of the leaked rumors?

As if he could guess what Xia Jingxing was thinking, Blankfein immediately said: "Daren, your cooperation with us is of a very high level of confidentiality. Goldman Sachs has always been well-known for protecting client privacy, and we don't want to lose it. Your big client."

   Xia Jingxing did not particularly doubt Blankfein, even if the other party wanted to sell Vision Capital, it would not be possible to sell it so cheaply.

   "Daren, why don't you ask Mack? They have had quite a lot of turmoil this year."

   Anytime, anywhere, Blankfein never forgot to put some eye drops on his old rival.

  Xia Jingxing smiled, "Okay, I understand, then I'll go meet the future governor!"

   "Daren, don't hang up the phone in a hurry, I'll give you more advice, you're like this..."

   (end of this chapter)