My Age of Investment

   Chapter 1246 Send you ten billion dollars

   "It turns out that the impact of the financial crisis is beyond the imagination of all of our team."

  Peter Thiel said quite dejectedly: "Clary Capital's bargain-hunting behavior is more like an absurd farce."

  Xia Jingxing smiled and comforted: "You can't say that, no one can guarantee success all the time."

   Peter Thiel glanced at Xia Jingxing, then shook his head, "Daren, I'm under a lot of pressure now, LPs say I'm a liar and betray their trust.

   There are also LPs who questioned Clary Capital's investment performance, saying that we made US$14 billion in 2007, which is a lie.

   In fact, they are not wrong, I am afraid I do not have the ability to manage a $20 billion fund. "

  Xia Jingxing didn't know why Peter Thiel suddenly mentioned this matter. The year before last, Clary Capital worked for Vision Capital once and took the blame once.

   The principal of 1.5 billion US dollars, together with the profits from shorting subprime loans, totaled 10.6 billion US dollars. Peter Thiel did not take a penny and returned it all to Xia Jingxing.

Of course, Peter Thiel did this, and he did not lose any benefits. He followed Vision Capital and made more than three billion dollars in sub-prime loans. Clary Capital became famous and increased the scale of assets under management in one fell swoop. Going from a few billion dollars to $20 billion is the second.

   In a way, everyone owes no one.

  Xia Jingxing feels that Peter Thiel is now turning over the old accounts, and seems to be suspected of seeking benefits?

   Don't blame him for thinking too much, it's mainly because Blankfein and Mai Jinhuo are doing this.

   It is hard to avoid jealousy when you see others making a lot of money.

   Peter Thiel did not notice the strangeness on Xia Jingxing's face, but still said to himself: "When a person's ability cannot match his ambition, it may cause catastrophic consequences."

  Xia Jingxing took a sip of wine and said lightly, "Do you think the fund is too large?"

  Peter Thiel nodded gently, "Yes, even if I don't actively reduce the size of the fund, there should be a large number of LPs who choose to leave after the redemption period starts.

  Since this is the case, I might as well be more generous and get together with LP. "

  Xia Jingxing was a little surprised that Peter Thiel had been stimulated to take the initiative to reduce the size of the fund.

  Other investment institutions are eager to manage as many assets as possible, so that they can charge more fund management fees.

   "Are you sure? Clary Capital is an institution that is expected to hit the top ten hedge funds in the world."

  Peter Thiel smiled and shook his head, "No, I now know how much weight I have, the top ten hedge funds, this may be a dream we can never achieve.

   It is Envision Capital, should it be tying or surpassing Bridgewater Fund soon?

  I want to help you! "

   Facing Xia Jingxing's suspicious eyes, Peter Thiel explained: "I want to transfer some of the LPs of the fund to Vision Capital, and Clary Capital will just keep the previous scale of US$3 or 4 billion.

   After deducting the losses we caused last year, this part of the assets transferred is about 10 billion US dollars. "

  Xia Jingxing was stunned, what is this good thing?

   I'm afraid Peter Thiel has some conditions?

   Soon, Peter Thiel's next sentence dispelled Xia Jingxing's concerns: "Clary Capital will introduce these LPs to you unconditionally, as to whether they can be retained or not, it depends on your ability.

   In short, we have no ability to retain them, and Clary Capital's development has also been dragged down. "

   Seeing that Peter Thiel was really just doing good deeds and did not mean to ask for any benefits, Xia Jingxing hesitated in his heart.

Assets of 10 billion US dollars are very attractive, and the annual management fee can be 200 million US dollars, but Xia Jingxing is afraid of absorbing this part of the funds, so he has surpassed the Bridgewater Fund at this stage, which will cause too many problems. The attention of the company is not conducive to the future development of Vision Capital.

   "I'll have to think about it."

  Xia Jingxing's answer also surprised Peter Thiel, don't you want to give you money for management?

   "Daren, I sincerely intend to divest some of the funds for your management.

   We are unable to help LPs make a lot of money, even if we want to forcibly keep others.

   But Vision Capital can create super-high returns for LPs, this $10 billion is in your hands, and it will become $20 billion, $30 billion in the near future…”

   The corners of Xia Jingxing's mouth twitched, he was earning 10 or 20 billion US dollars at every turn, he really took me for a god, didn't he?

   Now he has basically expressed what Peter Thiel meant, and the other party should want to send him a favor.

   To be honest, Xia Jingxing was a little moved by Peter Tell’s gift-giving behavior, and he wondered if he should find a way to compensate Peter Tell in the future.

   "The size of the fund has become too large, you think it is difficult to manage, and we also think it is difficult to manage."

  Peter Thiel scratched his head, it seems that this gift really can't be delivered.

  Xia Jingling changed the topic: "However, we are going to liquidate a batch of funds recently. If the scale growth allows, we can accept this part of the LP and its funds transferred by you."

  Peter Thiel gave a wry smile, and started to pick and choose.

   But he also understands that, after all, with the current investment performance of Envision Capital, there is no shortage of investors at all.

   "Okay, then I'll wait for your news. As long as you speak, I'll send someone over to you."

  Xia Jingxing smiled, "Thank you! I owe you a favor for this matter!"

  Peter Thiel waved his hand, "We are friends, so don't say such foreign words.

  I don't want your favor, just can you...let me subscribe to your hedge fund! "

   The smile on Xia Jingxing's face stopped for a while, what a joke, the hedge fund boss didn't invest in his own fund, but came to subscribe to my fund?

   Should I say that Envision Capital is too good, or that Clary Capital is too bad.

   He knew a little about the fate of Clary Capital in his previous life.

  Peter Thiel made a mistake in bottom-hunting during the financial crisis, and then chose to go short in the 2009 U.S. stock market rebound...

   stands on the opposite side of the general trend every time.

   The multi-billion-dollar fund was left with only tens of millions of dollars. Later, the New York office and the hedge fund were simply closed to concentrate on venture capital.

   This also means that Peter Thiel’s journey to become a financial tycoon with both venture capital and hedge funds has failed completely.

   After coming into contact with him in this life, Xia Jingxing found that Peter Thiel still had two brushes in his career as a venture capitalist, but it was indeed a little interesting to be a hedge fund.

  Although both industries are sub-sectors of the financial industry, interlacing is not just talking about it, and the investment logic of the two is completely different.

   Even with his own help in this life, Clary Capital is several times more brilliant than at its peak in the previous life, but it still cannot restore the fund’s declining performance.

What does   Peter Thiel mean when he came to subscribe to Vision Capital's fund? It means you don't have confidence in yourself.

   Of course, there are also considerations of not putting eggs in one basket, for example, Gates is a loyal and old customer of Vision Capital.

  Peter Thiel smiled embarrassedly, "If it makes you feel embarrassed, forget it."

   "No problem, friends' funds must be accepted. Even if there is no room in the car, I will find a way to make room for you."

   Seeing that Xia Jingxing had agreed to his request, Peter Thiel was very happy and kept thanking him.

  Xia Jingxing was bewildered by Peter Thiel's reaction. Has Envision Capital's hedge fund become so popular?

   It seems that because he has made money, he has underestimated the attractiveness of a good way to make money.

   Even if you are rich, not everyone has investment channels to earn ten times or dozens of times the return in a few years.

   (end of this chapter)