My Age of Investment

  Chapter 1249 Reached $100 Billion Milestone

   Colleagues from other offices of Envision Capital all over the world reported their achievements one by one, and finally it was the turn of the New York office.

   Liu Hai and Jiang Ping rejected each other, Abel couldn't stand it any longer, and said, "I'll do it, your report is long, mine is shorter."

   Xia Jingxing couldn't help joking: "Abel, a man can't call himself short."

   All the men present burst into laughter, and Ye Shuhui, the only woman, didn't feel any embarrassment, and laughed along with everyone.

   In fact, everyone didn't take this woman with oily hair and beach shorts as a woman.

   "The Daxue No. 2 hedge fund of funds managed by I has invested US$500 million in several external sub-fund managers such as Tiger Asia, Gao Ling Capital, Snow Lake Capital, Greenlight Capital, and Global Investments.

   Our $500 million has now turned into $1 billion according to their disclosures. "

  Abel's expression was a little low. Their team's net profit of 500 million US dollars was not bad for other companies, but compared with his colleagues around him, it was impossible to see.

  Xia Jingxing smiled and encouraged: "Very good! Abel, this is your first year in charge of the Fund of Funds. Not only has the size of the fund doubled, but you have also found several excellent external fund managers.

   This shows that our FOF operation exploration model has achieved initial success. In the future, we will raise several billion or even tens of billions of US dollars of FOF. "

   Hearing what the boss said, Abel was relieved a lot, and he immediately became motivated to win.

  Although I started a little late, I have worked steadily and took every step, and there is no chance that it will create tens of billions of dollars in profit in the future.

   "Let me come, your finale!"

  Liu Hai glanced at Jiang Ping, and then reported: "Our team mainly shorts individual stocks and options in US stocks.

   Among them, 14 billion US dollars were shorted for the underlying stocks, and a net profit of 9.6 billion US dollars was achieved.

   Another $6 billion shorted individual stock options, resulting in a net profit of $19.8 billion. "

  Xia Jingxing nodded lightly, the Liu Hai team contributed a lot this time, and created a profit of nearly 30 billion US dollars with a principal of 20 billion US dollars.

   It's a little pity that the net profit did not exceed $30 billion.

   If there is no mistake in Wells Fargo, maybe it will be a successful breakthrough.

   Last year, the Liu Hai team had created a net profit of nearly 14 billion US dollars.

   At the time of delivery last month of the last $5 billion in options contracts held, more than $15 billion was recorded, including nearly $4 billion contributed by Buffett.

Jiang Ping, who appeared at the finale, said with a calm expression: "Our team held a $20 billion portfolio, $14 billion was invested in the three major stock index futures, and $6 billion was invested in triple short ETF funds, ETF fund put options, VIX and other financial derivatives.

  100,000 S&P 500 futures contracts, net profit of $14.8695 billion.

  67,238 Nasdaq futures contracts, net profit of $7,811,845,320.

  136,717 Dow Jones futures contracts, net profit of $6,632,264,320…

  …”

  Everyone was completely stunned. Did you memorize all the decimal points in the financial report?

   Xia Jingxing was also a little surprised, he couldn't be so good at math, right?

  Jiang Ping said with a smile: "In total, the net profit of the three major stock index futures is 29.3136096 billion US dollars, and the net profit of other financial derivatives is 8.31172484 billion US dollars."

  Xia Jingxing and others skipped the decimal point and calculated the entire net profit of the Liu Hai team.

  $37.6 billion!

   The first brother of Vision Capital, he deserves his name!

  Abel gave Jiang Ping a thumbs up, and he was completely convinced by the first brother.

  Last month there was a lot of discussion, with speculation about who the mysterious hedge fund that made $30 billion in profits was also speculating about the trader of the fund.

   The big air **** Paulson and the small air **** Peter Thiel are far worse than Peter Jiang.

  Xia Jingxing was feeling the wonder of fate.

   If he didn't show up, Jiang Ping should be working for Cohen's Seike Capital at this time.

   In this life, Jiang Ping cut Cohen's leeks.

  Li Yaozu and Liu Hai's eyes were a little gloomy. The teams they both led have made nearly 30 billion US dollars in profits for the company.

   Such a terrifying profit, but he still missed the first brother. It can only be said that the company has been involved too much.

  Jiang Ping said with a smile: "Everyone is in different financial markets and trading types, so we took some advantage.

   The TRS tools provided by Goldman Sachs and Morgan Stanley have their own 3x leverage, and the futures contract of the Chicago Exchange adopts margin trading, which provides us with 5x leverage.

   Two numbers are multiplied together, and the leverage is as high as 15 times, which is not available in the stock market. "

   Hearing this, several fund managers felt relieved.

The    index's rise and fall is relatively small. Generally, it rises or falls by one or two points every day, or even a few tenths of a point. When it encounters super extreme market conditions, such as the financial crisis that broke out last year, there will be more than double-digit declines.

   Therefore, index futures can provide much higher leverage than the stock market.

   But then again, the index reflects the overall trend of the broader market. From last year to the present, the cumulative one-year decline of the three major stock indexes is about 40%.

   And individual stocks, such as Citigroup and Lehman Brothers, fell by an astonishing 90%.

  The large leverage multiple is an advantage, but it does not mean that Jiang Ping will win.

  Jiang Ping continued: "In addition, the asset management scale of Xiaoman No. 1 has grown from US$1.8 billion last year to US$4 billion;

  Xiaoman No. 2’s asset management scale has grown from US$1 billion last year to US$2.5 billion. "

  Xia Jingxing said with a smile: "Very good, it seems that when your team is busy with the main work, the management of the Exchange Fund has not been delayed."

  These two funds are the only funds under Envision Capital that have not participated in shorting the stocks and stock indexes of various countries, except for the mainland securities investment funds.

   In fact, it can be regarded as participating in short selling, but the trading variety for short selling is foreign exchange.

   Thanks to the financial crisis, the foreign exchange market fluctuated a lot last year, which gave Jiang Ping's team a chance to make a fortune.

  When the foreign exchange market is not volatile, Jiangping team can create a 50%-100% rate of return. Last year’s rate of return doubled compared to normal years.

   When everyone heard Jiang Ping's words, they bowed again.

   Including the 3.7 billion US dollars in revenue from the foreign exchange market, Jiang Ping’s team created a total of 41.3 billion US dollars in net income last year.

   This figure is extremely terrifying, directly exceeding the asset management scale of the Paulson Fund of 36 billion US dollars.

  Abel pointed and said in surprise: "Mainland China is nearly 2 billion US dollars, Hong Kong Island is 8 billion US dollars, Europe is 29 billion US dollars, Liu Hai's team is 29.4 billion US dollars, Jiang Ping's team is 41.3 billion US dollars, and our team is 500 million US dollars...

  Last year, Vision Capital created a total of $110.2 billion in net income! "

   Hearing the number reported by Abel, everyone felt like they suddenly fell into a dream.

   Including Xia Jingxing's mind was also deeply attracted.

   However, he already knew the approximate profit figures, and soon his face returned to normal, and he corrected: "The profit of the mainland team was in 2006-07."

   "After subtracting $2 billion, there's still $108.2 billion left!"

While    was talking, Abel pinched himself and found that it was not a dream, but the real world.

"Almost, we shorted the whole world. We took a cut from hundreds of banks, hedge funds and investment banks around the world. Even Jewish capital took more than ten billion dollars. It is said that Buffett also lost four Five billion dollars."

   Hearing the various data reported by Xia Jingxing, everyone nodded, and gained a new understanding of the record of reaching a return of hundreds of billions of dollars.

   This number seems to be very large, but in fact, it is still earned by a lot of investment, and it has moved to the global market, hollowing out the savings of many institutions for decades.

   It can be said that every penny earned carries the blood and tears of other institutions.

  If all this is announced, I am afraid that it will be attacked by a group!

  Thinking of this, Liu Hai shuddered, excited and nervous, and said, "Last year, our hedge fund reached an asset management scale of about 32 billion US dollars.

   If you add last year’s $108.2 billion profit, wouldn’t the asset management scale have exceeded $140 billion? To the top in the world? "

  At present, neither Bridgewater Fund nor Renaissance Technology has exceeded the asset management scale of 100 billion US dollars. Vision Capital is indeed the first hedge fund to complete this great milestone.

   Xia Jingxing was also very happy about this.

   But the joy is over, it’s time to solve the happy and annoying problems.

   (end of this chapter)