Society owes me a brother

Probably Lu Chi's attitude is too tough, and his previous achievements are too brilliant. Of course, the most important thing is that Lu Chi's appeasement conditions are very good. The "profit-seeking" capitalists have weighed it over and over again, and after all, they don't want to trade with Lu Chi, a talented man. It was even the "Hand of God" who was so skilled that he was a bit evil tore his face.

So, under the patient comfort of the investment consultant and chief financial officer of Leap Deer Fund, the big clients who were clamoring to withdraw their capital finally calmed down.

On the other side, the partners who have been paying close attention to Lu Chi's dynamics also stood up to express their support for Lu Chi at the first time - first of all, they expressed their opinions on various occasions, and the campus department bet on the employee welfare fund of the Leap Deer Fund And investment funds are determined not to withdraw.In addition, the campus department will also transfer all the funds deposited in other banks to the account of the Leap Deer Fund.Zhang Yang, Yue Bin and others also convinced their respective families. After careful investigation, the think tanks of the Yue Group and the Zhang Group believe that the subprime mortgage crisis predicted by Lu Chi has a high probability of breaking out. However, the scope and impact of the outbreak force is uncertain.

In order to ensure everything was safe, the Patriarchs of the Yue family and the Zhang family secretly flew to country M immediately after the think tank gave the results, wanting to have an interview with Lu Chi.After the important and confidential interview, the heads of the Yue family and the Zhang family finally made up their minds and secretly invested a huge sum of 120 billion M gold in the Yuelu Fund.Support Lu Zhi's behavior of shorting the housing market of country M.

This is almost three-fifths of the liquidity that the two major groups can mobilize.

The unexpected expansion of funds, Lu Chi's first reaction was not to breathe a sigh of relief because of the slack in the capital chain, but to subconsciously increase the leverage and the gambling agreement - with the old Locke's personal guarantee, Lu Chi has already confirmed the subprime mortgage crisis It will inevitably erupt, and the scope of the spread is very large.

That being the case, in order to ensure the maximum benefit, Lu Chi would rather burn the boat and pile all the chips on the gambling table.And this time, Lu Chi, who is relatively well-funded, is no longer limited to Wall Street—he spread the VAM agreement directly to European countries that introduced subprime loans.

Lu Chi's extravagant behavior immediately attracted the attention of Wall Street.The voices of those who were not optimistic about Lu Chi were once again amplified. Many financial professionals, experts and professors who blindly believed that the economy of M country would continue to grow, openly dissed Lu Chi's actions on various occasions, and laughed at Lu Chi's unreasonable worries.However, Lu Chi's record has been brilliant all the time. Shareholders who were originally indifferent to Lu Chi's predictions saw that Leap Deer Fund signed such generous contracts with major investment banks around the world to bet that the housing market in M ​​country would fall and the subprime mortgage crisis would erupt. The betting agreement was taken aback.They stopped buying subprime loans one after another and subconsciously chose to wait and see.

The momentum of the all-M house price index, which has been rising fiercely, has slowed down.Seeing this situation, the government of country M and the rating agency of country M, who had been watching from the sidelines, couldn't sit still anymore. They stood up to support the housing market and tried their best to whitewash the peace.

In addition, Washington, who was extremely repulsed by Lu Chi himself, also sent people to contact Lu Chi, trying to persuade Lu Chi to keep a low profile and not cause panic among the people of M.

In order to express their dissatisfaction, the most powerful government department in country M - the tax bureau, which is said to be more terrifying than the FBI, also repeatedly approached the campus department and the Leap Deer Fund to request an audit.The M State Securities Regulatory Commission, which has been eyeing Lu Chi himself, did not forget to show his presence eagerly.

Under the auspices of outstanding students, the campus network, which has become more and more popular with the people of M country because of the joint hosting of several carnivals with the sports circles of M country and Hollywood, is once again facing the situation of being forced to stop by various departments.Campus food delivery and Leaping Deer Restaurant, which have been operating well, have also encountered complaints one after another. The labor department believes that the behavior of campus food delivery hiring taxi drivers to deliver food is not in line with the labor law of M country, and the civilian price strategy of Leaping Deer Restaurant has also been accused. Suspected of dumping at low prices——

All in all, if a behemoth like an official organization wants to find fault with a private company, even if Lu Chi is a world-renowned IT wizard, he will have to worry about it.

Faced with the persecution by the government of country M, Lu Chi's only response was to accept the invitation from his alma mater, Stanford University, to give a speech.And during the speech, he once again disclosed in detail the reasons why he is not optimistic about the real estate market and subordinated bonds in country M.

Facing a pair of eyes of all kinds who are madly adoring and thirsting for knowledge, Lu Chi, who has always been good at solving problems with numbers, patiently sent out a wave of bombs—if we say that Lu Chi’s previous analysis reports used professional terms and detailed data and Mathematical formulas for analysis.Now, in addition to the boring and difficult-to-understand professional report, Lu Chi also tried to explain it to the undergraduate students present with plain language and rich and simple examples.Through this speech, Lu Chi wanted to tell the students at Stanford, as well as those who are watching, that the real estate market in country M will not sit back and relax.

In order to achieve this, Lu Chi abandoned his useful data models, mathematical formulas and advanced financial theories, and directly gave two data that even middle school students can understand——

The first is the lender credit score.According to the relevant regulations of banks and lending institutions, they will score every lender who wants to buy a house.Under normal circumstances, only excellent customers with high scores and good repayment ability will pass the review and grant loans.However, the current situation is that in order to promote the growth of the housing market, the government of country M, and banks and lending institutions for the greater benefit, do not consider the customer's repayment ability at all when granting loans.Some low-income people without stable income, and frequent defaulters with very poor credit ratings can also get loans.And such a decision means that in the event of a crisis, these people will immediately lose their ability to repay.That is to say, once a crisis occurs, the banks and lending institutions that issue loans cannot guarantee smooth recovery of loans at all. All they can get are houses that have not been replaced by loans.At that time, these houses will become a member of the bank's non-performing asset package and occupy a huge share.

However, in order to sell more subprime bonds, the banks and financial institutions in country M did not hesitate to collude with rating agencies to sell these customers who were not eligible for loans, as well as those subprime loans packaged in loan contracts with very high hidden risks. Bonds have been rated as AAA-level high-quality bonds and sold to more shareholders to share risks.

The second data given by Lu Chi is the variable interest rate of mortgages.Under normal circumstances, after the lender obtains a house purchase loan from the bank, interest is added when repaying the loan.And this interest will fluctuate with the market changes.Lu Chi found that among the housing loans issued by banks and lending institutions, the interest rate of this housing loan is also constantly changing.However, different from the general understanding that the market will follow the market, the loan interest rates issued by banks and lending institutions to these customers are gradually increasing.That is to say, the interest rate is very low in the first few months, and the interest rate increases later, until the repayer cannot repay the loan at all.To use an analogy, it is similar to usury interest rate.

The continuous increase in mortgage interest rates directly leads to the inflated housing prices.And this kind of inflated price is not a normal price determined by the market, but driven by people.In other words, the value of the houses themselves did not match the loan price.Rather, after the launch of the subordinated bonds, in order to stimulate the continuous rise of housing prices, the major banks and financial institutions in country M deliberately relaxed the loan policy and encouraged customers to buy more and more real estate, regardless of the objective laws of the market and the qualifications of the lenders. And the false prosperity caused by introducing a large number of customers with bad credit to buy houses and apply for high-interest loans-it is artificially creating a housing market boom bubble in country M.

Once the bubble bursts, it will lead to a decline in house prices, and those customers who own several properties and have several loans to repay cannot repay the increasingly higher loan interest at all.With the market falling, it is estimated that these customers have no way to resell the properties whose value has fallen to others.The final result is that a large number of customers who cannot repay their loans have abandoned their houses and fled, or their hard-earned properties have been recovered by banks and lending institutions.The non-performing assets of banks and lending institutions have expanded, but the capital chain may be broken.The rupture of the capital chain of a large number of financial institutions will directly lead to the collapse of the economy-the subprime mortgage crisis broke out.

Lu Chi's speech was detailed and vivid. While listening to the students, they were stunned and suddenly enlightened.

As expected by Lu Chi, after the speech, some of his arguments also caused an uproar in the society.The stockholders who were still ignorant also understood the reason why Lu Chi wanted to short the housing market in country M.Some stockholders were shaken and even wanted to sell their real estate and subordinated bonds as soon as possible.Unfortunately, however—

Just one week after Lu Chi gave a speech at Stanford University, that is, on January 2006, 1, the Nasdaq index broke through 5 points, setting a new high since the airplane building incident.

Affected by this good news, the house price index in country M jumped again. The people who were waiting and watching were encouraged and decided to continue waiting and watching.

The government of country M and related rating agencies, which were already on the verge of a formidable enemy, also jumped out to prove their innocence, especially the heads of several major rating agencies, in public and in media interviews accused Lu Chixin of talking nonsense for grandstanding and manipulating public opinion. suspected market. The M State Securities Regulatory Commission also stood up and warned Lu Chi not to try to use his influence to slander the official of M country and the real estate market of M country, otherwise he will accuse Lu Chi of manipulating the market...

Those Wall Street investment banks and financial institutions that represent subordinated bonds have also stood up to oppose Lu Chi's remarks.In fact, ever since Lu Chi expressed his pessimism towards subprime bonds in the summer of 2005, Wall Street has been spreading the theory that the housing market in country M will usher in a collapse.However, the facts have proved that the real estate market in country M is still strong and has not plummeted as some profit-minded capitalists imagined.

Some experts and scholars accused Lu Chi of attempting to short the housing market of country M because he is essentially hostile to country M—because according to Lu Chi’s theory, if he wants to successfully short the housing market of country M, then the only possible situation is that the housing market of country M is comprehensive. collapse, and an economic crisis rare in history erupted in country M.In other words, this much-anticipated trading genius is trying to make a fortune.

Spokespersons of some investment banks and rating agencies even pointed out Lu Chi's nationality, and pointed out with ulterior motives that he was a Chinese who was deliberately waiting for the collapse of the housing market in country M in order to make money.So no matter how high-sounding what Lu Chi said, these spokespersons can't wait to knock on the blackboard to remind the people who are waiting to see: Lu Chi is not a native of country M, so he has no right to criticize the government of country M in order to promote the economy of country M. series of policies.What's more, Lu Chi's starting point is not for the people of country M at all—he wants to short the housing market of country M for his own sake.

In other words, Lu Chi is looking forward to a national disaster, the purpose is to fulfill his own reputation and interests.

Ruosi, who is so treacherous and vicious, can't bear it at all.

Under the deliberate instigation of someone with a heart, as expected, Lu Chi once again felt the sourness of being dissed by the whole people.Don't mention those stock investors who have bought several properties and subordinated bonds, and are really worried that the housing market will collapse as expected by Lu Zhi, even those who have not yet entered the market and are cautiously waiting and watching. I couldn't help but feel disgusted with Lu Chi.

And involuntarily, under the instigation of some people, he bought real estate or subordinated bonds on a whim, in the name of contributing to the development of country M.

And the enthusiastic "charity buying" behavior of these people, unsurprisingly, once again promoted the continued rise of the M housing price index.

Lu Chi, who was dissed by all the people and even the campus department, was extremely speechless.

However, Lu Chi's speech out of a certain kind of righteous indignation and compassion is not useless.At least those savvy investors are already secretly looking for a way out.To Lu Chi's surprise, Lei Ting, the head of the Greater China Region of Leishi Group, who originally wanted to cooperate with Lehman Investment Bank to issue mini-bonds in Xiangcheng, approached Lu Chi again.

"In fact, since I met Mr. Lu, I have been thinking about whether it is right to introduce mini-bonds into Xiangcheng. By coincidence, I heard Mr. Lu's analysis of subprime bonds. I have to say, it is amazing. I feel very benefited.”

In the coffee shop in the afternoon, Lei Ting took a sip of the mellow M-style coffee.The sunlight penetrated through the floor-to-ceiling windows and fell on his body, which set off the thunder of the suit and leather shoes, which was particularly sunny and elegant.

"Because of the urgency of time, I held several conference calls with the shareholders of the group and relayed Mr. Lu's theory. Of course, I also asked Lei Shi's investigators to conduct an in-depth investigation in country M. They even sent special personnel I went to the major states of M country to investigate the repayment status of the lenders who bought the real estate. I finally found that Mr. Lu’s words were not sensationalism, but very likely to become a reality. Therefore, our group held an extraordinary general meeting of shareholders and finally decided, Give up the act of introducing mini-bonds to Xiangcheng."

When Lei Ting said this, he looked at Lu Chi with burning eyes, and said sincerely: "I would also like to thank Mr. Lu for his deafening speech. It saved Leishi Group from a serious decision-making mistake."

Lu Chi glanced at Lei Ting in surprise, and smiled warmly: "I can't say thank you, this is the decision of Mr. Lei and your company. I actually didn't do anything."

Lei Ting also smiled. He leaned forward, folded his hands on the table, and made a sincere and somewhat forceful gesture.The topic changed: "In addition, we want to join the Leap Deer Fund and short the housing market of country M together."

Lu Chi: "..."

This decision of Leishi Group was unexpected by Lu Chi.But after thinking about it, since Lei Ting was able to persuade his family to give up the agency of mini-bonds, he had to find another project to make up for the loss.Since he is not optimistic about the future of subprime bonds, it is a natural decision to short the housing market in country M.

Therefore, Lu Chi did not ask Lei Ting such meaningless questions as "why did he make such a decision?" Instead, he nodded and said frankly: "Regarding this matter, Mr. Lei can go directly to Yuelu Fund to open an account. I believe Mr. Lei should have heard about the account management fees and revenue sharing of major customers of Leap Deer Fund. If you have no questions, you can sign the contract directly.”

Lei Ting probably didn't expect Lu Chi to react like this.After being stunned for a long time, he shook his head and said with a smile: "Mr. Lu is indeed not an ordinary person."

Lu Chi's cell phone rang suddenly.Lu Chi looked down at the unread letters lying quietly on the screen, and clicked on——

Lei Ting saw that Lu Chi suddenly hooked the corners of his mouth after reading a text message, and the corners of his eyes and brows, which had always been slightly indifferent, involuntarily smudged into a tender and gentle smile, and then Lu Chi, who lowered his head, raised his eyelids slightly, He nodded at him, and said with a "hmm", "I'm really not an ordinary person, I'm on UA2333."

Lei Ting was taken aback when he heard the words: "What?"

Lu Chi shook his phone, stood up and smiled, "I'm very sorry. I'm going to pick up someone at the airport. Let's talk next time."

Lei Ting looked at Lu Chi's hurriedly leaving figure, and raised his eyebrows curiously.

On the other side, Qi Jiaming, who learned that Leishi Group asked Lehman Investment Bank to make a mini-bond and finally gave up on issuing it, also hurried into the door of Lehman Investment Bank...