My Age of Investment

  Chapter 838 Target

  The warning messages issued by HSBC and New Century Financial are like two bombs dropped on a calm lake. The housing market that has been sideways for several months finally splashed and started to fall slightly.

   Fearing that the world will not be chaotic, the media began to launch various reports and publish their pessimism on the housing market.

  In this context, the subprime mortgage bond price composite index ABX began to plummet. From a straight dive of 100 points a few months ago, it fell to more than 60 points.

  While this person was panicking, the meeting room at No.40 Wall Street was full of laughter.

  "Dalun, I am completely convinced. Your investment vision is better than mine."

  Peter Thiel gave a thumbs up to Xia Jingxing, who was sitting across from him, and was convinced.

   Originally, Peter Thiel was also a little worried that short-selling subprime loans for Vision Capital would make his Clarion Capital suffer a bad reputation for a lot of losses.

  But now this worry has completely disappeared. The $1.5 billion fund managed by Claire Capital has now bottomed out, reaching a scale of $1.8 billion, with a profit of more than 20%.

  Xia Jingxing looked at Peter Thiel with a smile, and his cooperation with the other party was fairly pleasant.

  Some time ago, the situation was unclear. The fund managed by Claire had lost 300 to 400 million US dollars at one time. Peter Thiel chatted with him from time to time and advised him to be cautious and not end up badly.

  These words are half a reminder from a friend's standpoint, and half a notification from a partner's standpoint.

  However, Peter Thiel still abides by the agreement between them and does not intervene in the operation of the fund at all.

  Now, the fund finally fought a turnaround. As the nominal manager of the sub-fund, Peter Thiel also came to their small celebration.

  "CDO and CDS markets are not volatile at present. Our main profit comes from shorting the ABX index. Next, we need to observe more and pay attention to market trends."

   Liu Hai also expressed his opinion, but he scrupulously said that Peter Thiel was present and deliberately said that he was very conservative.

  Peter Thiel did not hear any overtones, frowning and asked: "What do you mean, the subprime mortgage derivatives market may still be upset?"

   Liu Hai said with a serious expression: "No one can guarantee this. After all, housing prices have been strong for so many years, and some fluctuations are very likely. We have to be patient and cautious."

  Peter Thiel whispered in his heart, he said that deliberately because he was afraid that he would follow suit?

  Tayl is not only an entrepreneur and venture capitalist, but also a hedge fund manager. His first job in his career was a financial derivatives trader.

  With basic financial literacy, and at the same time observing Xia Jingxing’s operations closely, Thiel’s view on the subprime mortgage market has gradually changed.

  He didn’t think that shorting the subprime mortgage was a good choice, but now he thinks it’s really fragrant.

  He has a foreboding that the crisis is still brewing, and something bigger will happen next.

  Xia Jingxing spent billions of dollars on short subprime loans, which indirectly confirmed his guess.

  After a few people exchanged views on the next plan and arrangements, Liu Hai and Jiang Ping left the meeting room.

  Peter Thiel did not leave. He sat in his place and thought for a long time. He looked at Xia Jingxing and said, "Dalun, I also want to short subprime loans."

  Xia Jingxing guessed that Tyre had something to say to himself when he stayed. He didn’t expect this to happen, so he replied without hesitation: "Do yours!"

   "I need to ask for your consent first."

  Peter Thiel looked at Xia Jingxing with a sincere expression, and said, “You entrust me to help you manage the fund. Although I didn’t have a specific operation, I also witnessed the whole process from the sidelines.

  From a certain level, you can be regarded as my teachers.

  Now I want to take the skills you taught to short subprime loans. If you don’t ask for your consent in advance, it would be too unethical. I can’t do this kind of thing. "

  Xia Jing was happy, but also met a gentleman with Qianqian?

  "It’s okay, this market is huge, you can go short if you want to go short, but you have to think carefully, I don’t take any responsibility."

  Peter Thiel smiled and said: "I have considered it clearly. If there is any problem, I will bear all the responsibilities independently.

  Thank you, Darren, you are an open-minded person. "

  Xia Jingxingxin said, I open a hammer.

  The reason why he agreed so happily is because he can't stop Peter Thiel's behavior, on the contrary, it is better to follow the flow of the boat and change his personal feelings.

  In addition, Peter Thiel’s eagerness right now, in fact, in his expectation, he even wanted Peter Thiel to invest in subprime mortgages on a large scale. The bigger the better, it just covered the actions of Vision Capital.

  The title of "the king of subprime short-selling", whoever wants it can take it, he doesn't want it anyway.

   "Oh, by the way, Darren, I decided to cancel the fund management fee we set earlier, which is a return to you."

Xia Jingxing was a little surprised. He had previously drawn up a cooperation agreement with Peter Thiel to hand over 1.5 billion U.S. dollars to the management of Claire Capital, borrow their names, and do not have to pay the revenue share, but will pay Clay every year. Rui Capital 2% management fee.

  It’s a lot to count, at least 30 million US dollars a year. If the fund makes a big profit and its scale expands rapidly, the management fee will be even more.

  Such a large sum of money, Peter Thiel said that if you don’t want it, you don’t want it, it seems to be too proud.

  However, Peter Thiel’s next words let Xia Jingxing clear his doubts.

   "I hope that Clarion Capital and Vision Capital can reach a cooperation. We exchange news on the investment of subprime loans and advance and retreat together."

  Xia Jingxing gradually recalled. It turned out that Peter Thiel had caught my investment vision and wanted to sell better than me.

  I have to say, this kid made a very smart choice.

  Compared with that point of management fee, it is called more profit than investing in others.

   "No problem, I agree."

  Peter Thiel was very happy and said: "Daren, if Claire Capital makes money, I will definitely give you a lot of consulting fees, this number..."

  Telby has five fingers.

  Xia Jingxing shook his head and chuckled, “You have already waived the management fee, so forget the consultant fee. We are the closest partners, and there are still many opportunities for cooperation in the future.”

  Peter Thiel smiled, "Well, if there is any need for help in the future, please don't be polite and contact me at any time."

   "Don't worry, I won't be polite!" Xia Jingxing laughed.

  Achieved the goal, Peter Thiel did not stay any longer, got up to say goodbye, and left with a smile, he was anxious to go back to deal with the establishment of a new fund.

After seeing Peter Thiel leave, Liu Hai returned to the conference room.

  He looked at Xia Jingxing, who was resting his mind, and directly said his guess: "I just observed Peter Thiel's expression and eyes. That kid might sneak behind us to short sub-prime loans."

  Xia Jingxing gave Liu Hai a glance, and he did not expect the latter to observe so meticulously, which was beyond his expectation.

  This also shows that Liu Hai is very caring about the company and him.

   "Your guess is correct. He has just told me that he wants to set up a short-selling subprime fund. I agree."

   Liu Hai looked puzzled: "Why do you agree? That kid didn't do anything, so he followed us to pick up the bargain."

  Xia Jingxing repeated the chat with Peter Thiel just now.

  "If he counts his acquaintance, he also knows that our management fee is waived, but why don't you want the consultant fee?"

   Liu Hai shook his head, "Americans pay attention to business, and they don’t remember your favor."

   "No need for him to remember favors."

   Liu Hai feels that based on his understanding of the boss, it must not be that simple, and most of them are digging some holes.

  After thinking for a while, Liu Hai asked tentatively: "Do you want Peter Thiel to bear some cause and effect for us?"

  "The term causality is not very accurate. It should be said that it is for us."

  Xia Jingxing smiled and said: "I want to promote Peter Thiel as the **** of Wall Street!

  Have the opportunity to make another movie for him, the kind of big production well-known. From Silicon Valley to Wall Street, entrepreneurs, venture capitalists, empty gods, treasure slash boys.

  Oh, he is still **** and more topical. The movie box office must be good. "

Liu Hai didn’t understand the treasure slash boy, but understood the others. The boss wanted to push everything on Peter Thiel, and he didn’t even charge the consultant fee. force.

   "This is a good way!" Liu Hai nodded, everything was arranged clearly and meaningfully.

   "Oh, where's Paulson? Shall we also use him as an empty god?" Liu Hai asked.

  Xia Jingxing smiled faintly, “He, I’m afraid that we don’t need to support him. He has started to raise the second fund. The action is much faster than Peter Thiel who looks forward and backward.”

   Liu Hai nodded, "This is actually, Paulson is a ruthless man. His confidence and enthusiasm for investing in subprime mortgages is no less than ours."

   "By the way, Jingxing, everyone has started to raise funds, should we continue to raise new funds?"

  Xia Jingxing shook his head: “Not for the time being. They are all the first subprime funds, or the scale was too small before. We are different. You count, how much have we raised recently?

  Slowly, we are not the father of LP, and we can't expect to raise much.

  When the fund results come out, we don’t need to look for it, LP will wave a check and call our father. "

   Liu Hai smiled, thinking this metaphor is very vivid.

   "Well, let’s focus on performance first. We also manage a $1.5 billion direct investment fund ourselves."

  Xia Jingxing smiled and said: "What 1.5 billion, you have to remember clearly, we only have two direct investment funds of 400 million US dollars."

   Liu Hai immediately realized that he had said the wrong thing, and another 700 million US dollars of funds were invested by them in 8 horse gold.

  Don’t say anything else, they are the only ones in terms of the trivial style of play.

  However, there are reasons for this. Thinking of the scene of millions of people being homeless, Xia Jingxing speculated, he shuddered. No one can bear the anger of so many people. It is better to keep a low profile.

  Shooting a few targets out to attract firepower, they hide in the dark and count the money, happily.

  (End of this chapter)