Media Tycoon since 1999
Chapter 485 The subprime mortgage storm?
Chapter 485 The subprime mortgage storm?
When Gao Yang returned home, it was not yet 1:[-] noon, and the three children were all asleep.
Gu Yawen, Wu Ruohan, Wu Xiaoyue and Liu Yifei were sitting in the tea room of Villa No. 5 chatting.
Gao Yang greeted Wu Ruohan to take a lunch break, and the two returned to Villa No. 7.
Wu Ruohan remembered Gu Yawen's warning, suppressed her curiosity, and kept silent.
Just leaning on Gao Yang's body, it was difficult to fall asleep for a while.
Seeing this, Gao Yang caressed Wu Ruohan's cheek.smile slightly:
"Yang Ming invited Western food for lunch. You know, I don't like Western food very much."
Wu Ruohan giggled: "I didn't ask you."
Gao Yang asked again: "What did you have for lunch?"
Wu Ruohan said: "Scallion oil sea cucumber, sliced meat with green bamboo shoots, pork ribs stewed in chicken soup, strawberries and loquat..."
In the evening, Wu Ruohan brought Wu Xiaoyue to accompany her, and Gao Yang went to Villa No. 5 to rest.
After the tenderness, Gu Yawen talked about the situation after the 51 Science and Technology Park and the Siheyuan started construction, but did not ask about Yang Ming's invitation to Gao Yang for dinner.
Gao Yang didn't mention a word either, Gu Yawen was the one who had the most tacit understanding with him.
In the past two days, accompanied by Gu Yawen, Gao Yang inspected the construction site of 51 Science and Technology Park and Siheyuan.
The 51 Science and Technology Park is still in civil engineering work. The civil engineering of the courtyard has been completed, and the pouring of the basement is almost completed. On the ground, a large area of supporting wooden pillars has been erected in the main building and wing rooms, which looks like a jungle of giant trees.
Wu Ruohan still goes to work in the investment department every day, watching the market trends of A shares.
On April 4, the Shanghai stock index opened with a gap, breaking through 2 points.
On April 4, it rose again, approaching 3 points.
Since mid-March, A-shares have been moderately increasing in volume, rising in small steps. The daily trading volume of the Shanghai Stock Exchange Index has stabilized at around 3 billion, setting a record of more than 1000 billion.
On the afternoon of April 4, Gao Yang and Gu Yawen went to Houhai to see the construction site of the courtyard house, and when they returned to the office, the stock market had just closed, and Wu Ruohan came in with a happy face:
"Husband, the index has risen eight times in a row, and the Shanghai stock index has closed at a record high today, and the market value of our holdings has increased by more than one billion.
The recent volume-price relationship is very stable. Looking at the technical trend, this wave is likely to rise all the way to 4000 points..."
Gao Yang smiled and nodded, and opened his personal stock account:
Position: Shanghai Heavy Machinery 7210.8 lots (market value: 64248228 yuan)
Zhongxin Securities 86000 lots (market value: 394826000 yuan)
Chihong 42000 hands (431886000 yuan)
Yunnan copper 46000 lots (86112000 yuan)
Jiangxi Copper 37000 lots (72816000 yuan)
Total market value: 10.4988 billion yuan
Cash: 1540 yuan
Principal: 1900 million yuan
Total capital: 10.4988 billion yuan
Profit: 5425.73% (10.3088 billion yuan)
The market value of the position has exceeded 10 billion, and the floating profit is more than 54 times.
At the end of January and early February, the correction from 1 points to 2 points, and the sharp drop after breaking through 3000 points at the end of February, Wu Ruohan seized the opportunity and succeeded in doing T.
Except for Shanghai Heavy Machinery, which is not allowed to move positions in Gaoyang, the other four stocks have T out more positions.
Wu Ruohan also took a look at it, and said with a smile: "The company account plus personal account, now the market value of the full position is 232 billion, should we raise some more funds?"
Gao Yang shook his head: "No need, the scale of funds is large enough, and some public funds don't even have such a large amount of funds."
At this time, Gao Yang's personal cell phone rang, and it was his sister-in-law Chen Lan who was far away in San Francisco. Gao Yang quickly answered the call.
Chen Lan said: "Gao Yang, have you returned to the office yet?"
Gao Yang said: "Just came back, sister-in-law, we chatted online."
Gao Yang quickly opened 51talk and connected to the video with Chen Lan. On the video, both of their faces were coded.
This 51talk is a chat tool specially developed by Zhang Xiaolong arranged by Gao Yang, and it is only used by him, Wu Ruohan, Chen Lan and Shao Hanyun.
After each use and exit, the chat information will be automatically deleted, as will the data information on the server.
This function is similar to burning after reading, in order not to be monitored and tracked.
Even when chatting, data information is encrypted in real time.
At 1:4 noon, at 2:9 p.m. on April [-]nd, San Francisco time, Chen Lan called Gao Yang and said there was something important.
Gao Yang just woke up from his lunch break in Weber's apartment, and was about to leave. He and Gu Yawen went to Houhai to see the construction site of a courtyard house. They made an appointment to communicate online after 3 pm Beijing time.
Now, it is past 11 o'clock at night in San Francisco.
After connecting to the video, Gao Yang said: "Sister-in-law, I'm sorry to keep you waiting for a long time and delay the rest, let's make a long story short."
Chen Lan said: "Okay, I want to tell you about the current subprime mortgage market situation. This morning, the second largest subprime mortgage company in the United States [New Century Finance] announced that it filed for bankruptcy protection and laid off 54% of its employees.
This is the most shocking news to the market since mid-February. The subprime mortgage crisis has begun. What should we do now? "
Gao Yang asked: "How did the US stock market react today?"
Chen Lan said: "There is not much movement, the Dow Jones Index fell by less than -2% in February, which can be regarded as an early reaction.
March was a sideways trend. Today, the U.S. stock market closed, and the Dow and S&P also rose slightly.
After the news of New Century Finance came out, many financial commentators believed that the mortgage market began to collapse.
In addition, we held short positions in CDS. In the afternoon, I contacted several investment banks and asked them to conduct valuations. The consistent response was that the price of CDOs was stable and did not change.
According to the results of our own recent investigation, the default rate of subprime loans must have exceeded the warning line of 8%. "
Gao Yang asked again: "Sister-in-law, has the rating of subprime mortgage bonds changed recently?"
Chen Lan said: "Since mid-February, there has been no change. Neither Standard & Poor's nor Moody's has downgraded the credit rating of subprime mortgage bonds. However, the composite index of subprime mortgage derivative bonds ABX has fallen. However, investment banks and insurance companies' quotations for CDOs It just doesn’t change, which is a strange phenomenon.”
Gao Yang thought about it: "Sister-in-law, this is normal. Wall Street investment banks and rating agencies like Standard & Poor's want to maintain the stability of CDO quotations. They may have quietly opened short positions. We can only wait patiently for the opportunity."
Chen Lan asked again: "Then when shall we wait?"
Gao Yang said: "Sister-in-law, when the subprime bond rating is downgraded, that's when the storm really starts."
Chen Lan worried: "Gao Yang, we are now operating with 2.2 million US dollars, almost full of positions. If the quotation of CDO remains unchanged and the rating of subprime mortgage bonds is not downgraded, we may not be able to hold on."
Gao Yang thought for a while, and asked, "Sister-in-law, what about our $4000 million AAA long position?"
Chen Lan said: "I asked, and the quotation has not changed much, and we even have a slight floating profit, but if we sell it now, we may lose 5% or even 10% before we can find a buyer."
Gao Yang said: "Then clear out the long position of 4000 million US dollars and keep the cash for backup, even if it loses 10%, it doesn't matter. Our strategy has always been to wait for the subprime mortgage market to collapse and make money from empty orders."
Chen Lan said: "Okay, then I will contact you tomorrow and clear the long position first. Gao Yang, if the subprime loan does not collapse, what shall we do?"
Gao Yang asked with a smile: "Sister-in-law, do you believe it won't collapse?"
Chen Lan said: "From the perspective of market logic, subprime loans will definitely collapse, but I don't know when it will really start."
Gao Yang said: "Sister-in-law, we can only wait patiently. When the rating agency lowers the bond rating, it is the clearest signal. At that time, no one can stop the subprime mortgage collapse, and the bubble will definitely burst."
The two chatted for more than ten minutes before going offline, and the background data information of this special chat software was also automatically cleared.
Wu Ruohan had been listening to the chat between Gao Yang and Chen Lan, and sighed: "If the AAA-level long position has to lose 10% before someone takes over the order, it will be 400 million US dollars, which is a pity."
Gao Yang said with a smile: "If our short-selling can be successful, it doesn't matter if we lose all the 4000 million US dollars. It was originally used to deceive people. By the way, what will happen after it reaches the United States?"
Wu Ruohan said: "I just contacted Hanyun this morning, and her investment immigration procedures will be completed in the middle of this month.
Hanyu and Dorsey rented an 80-square-meter apartment in south Palo Alto, and Hanyu took care of Dorsey's life every day. They planned to officially hold their wedding at the end of April or early May.
By the way, with the 500 million funds included, after the full warehouse of Aodong, I made a few small Ts, and the cost dropped to 40 yuan. After the market closed today, it has rolled to more than 670 million.
I'll tell her tomorrow morning, and she'll be overjoyed. "
Gao Yang asked again: "How is Dorsey now?"
Wu Ruohan said: "Xuan said, Dorsey is very good, he has enrolled in Stanford's MBA training class, is also working hard to learn Chinese, and is selecting a CTO.
However, Yun Yun said that Dorsey and Williams had disagreements over the selection of CTO, and Stone supported Dorsey. "
Gao Yang said: "How did Dorsey solve this matter?"
Wu Ruohan said: "Xuan said that Dorsey's attitude is relatively tough, and in the end, Williams also agreed. Husband, will this Williams be a hidden danger for Twitter?"
Gao Yang said with a smile: "It's normal, before we invested in Twitter, Williams was the major shareholder of this company.
Now that Twitter has entered a stage of rapid development, he may want to regain control of such a company.
However, we designed special clauses in the original investment agreement. Dorsey and Stone, plus the voting rights of Android, have a total of 60%.
Williams does not control the company, he only has 32% of the voting power. "
Wu Ruohan thought about it: "If this person can't agree with Dorsey and Stone, I think we should find a way to weaken his voting rights."
Gao Yang said: "I've thought about it. Next year, Twitter should need new financing. At that time, while the android company continues to inject capital, it can buy part of Williams' equity at a high price, and finally reduce his voting rights. to less than 15%."
Wu Ruohan smiled and said, "This arrangement is the best."
Gao Yang said: "Yes, in a few months, Hanyun will be able to work at Twitter as Dorsey's assistant.
With the financing of Twitter next year, Hanyun can also invest some funds, get part of the equity of Twitter, and then serve as a director. "
Wu Ruohan said: "Then this year, I have to find a way to help Han Yun make more money in the A-shares. It's best to get out of her 500 million funds for 5000 to [-] million."
Gao Yang said with a smile: "With your trading sense and trading talent, there should be no problem..."
(End of this chapter)
When Gao Yang returned home, it was not yet 1:[-] noon, and the three children were all asleep.
Gu Yawen, Wu Ruohan, Wu Xiaoyue and Liu Yifei were sitting in the tea room of Villa No. 5 chatting.
Gao Yang greeted Wu Ruohan to take a lunch break, and the two returned to Villa No. 7.
Wu Ruohan remembered Gu Yawen's warning, suppressed her curiosity, and kept silent.
Just leaning on Gao Yang's body, it was difficult to fall asleep for a while.
Seeing this, Gao Yang caressed Wu Ruohan's cheek.smile slightly:
"Yang Ming invited Western food for lunch. You know, I don't like Western food very much."
Wu Ruohan giggled: "I didn't ask you."
Gao Yang asked again: "What did you have for lunch?"
Wu Ruohan said: "Scallion oil sea cucumber, sliced meat with green bamboo shoots, pork ribs stewed in chicken soup, strawberries and loquat..."
In the evening, Wu Ruohan brought Wu Xiaoyue to accompany her, and Gao Yang went to Villa No. 5 to rest.
After the tenderness, Gu Yawen talked about the situation after the 51 Science and Technology Park and the Siheyuan started construction, but did not ask about Yang Ming's invitation to Gao Yang for dinner.
Gao Yang didn't mention a word either, Gu Yawen was the one who had the most tacit understanding with him.
In the past two days, accompanied by Gu Yawen, Gao Yang inspected the construction site of 51 Science and Technology Park and Siheyuan.
The 51 Science and Technology Park is still in civil engineering work. The civil engineering of the courtyard has been completed, and the pouring of the basement is almost completed. On the ground, a large area of supporting wooden pillars has been erected in the main building and wing rooms, which looks like a jungle of giant trees.
Wu Ruohan still goes to work in the investment department every day, watching the market trends of A shares.
On April 4, the Shanghai stock index opened with a gap, breaking through 2 points.
On April 4, it rose again, approaching 3 points.
Since mid-March, A-shares have been moderately increasing in volume, rising in small steps. The daily trading volume of the Shanghai Stock Exchange Index has stabilized at around 3 billion, setting a record of more than 1000 billion.
On the afternoon of April 4, Gao Yang and Gu Yawen went to Houhai to see the construction site of the courtyard house, and when they returned to the office, the stock market had just closed, and Wu Ruohan came in with a happy face:
"Husband, the index has risen eight times in a row, and the Shanghai stock index has closed at a record high today, and the market value of our holdings has increased by more than one billion.
The recent volume-price relationship is very stable. Looking at the technical trend, this wave is likely to rise all the way to 4000 points..."
Gao Yang smiled and nodded, and opened his personal stock account:
Position: Shanghai Heavy Machinery 7210.8 lots (market value: 64248228 yuan)
Zhongxin Securities 86000 lots (market value: 394826000 yuan)
Chihong 42000 hands (431886000 yuan)
Yunnan copper 46000 lots (86112000 yuan)
Jiangxi Copper 37000 lots (72816000 yuan)
Total market value: 10.4988 billion yuan
Cash: 1540 yuan
Principal: 1900 million yuan
Total capital: 10.4988 billion yuan
Profit: 5425.73% (10.3088 billion yuan)
The market value of the position has exceeded 10 billion, and the floating profit is more than 54 times.
At the end of January and early February, the correction from 1 points to 2 points, and the sharp drop after breaking through 3000 points at the end of February, Wu Ruohan seized the opportunity and succeeded in doing T.
Except for Shanghai Heavy Machinery, which is not allowed to move positions in Gaoyang, the other four stocks have T out more positions.
Wu Ruohan also took a look at it, and said with a smile: "The company account plus personal account, now the market value of the full position is 232 billion, should we raise some more funds?"
Gao Yang shook his head: "No need, the scale of funds is large enough, and some public funds don't even have such a large amount of funds."
At this time, Gao Yang's personal cell phone rang, and it was his sister-in-law Chen Lan who was far away in San Francisco. Gao Yang quickly answered the call.
Chen Lan said: "Gao Yang, have you returned to the office yet?"
Gao Yang said: "Just came back, sister-in-law, we chatted online."
Gao Yang quickly opened 51talk and connected to the video with Chen Lan. On the video, both of their faces were coded.
This 51talk is a chat tool specially developed by Zhang Xiaolong arranged by Gao Yang, and it is only used by him, Wu Ruohan, Chen Lan and Shao Hanyun.
After each use and exit, the chat information will be automatically deleted, as will the data information on the server.
This function is similar to burning after reading, in order not to be monitored and tracked.
Even when chatting, data information is encrypted in real time.
At 1:4 noon, at 2:9 p.m. on April [-]nd, San Francisco time, Chen Lan called Gao Yang and said there was something important.
Gao Yang just woke up from his lunch break in Weber's apartment, and was about to leave. He and Gu Yawen went to Houhai to see the construction site of a courtyard house. They made an appointment to communicate online after 3 pm Beijing time.
Now, it is past 11 o'clock at night in San Francisco.
After connecting to the video, Gao Yang said: "Sister-in-law, I'm sorry to keep you waiting for a long time and delay the rest, let's make a long story short."
Chen Lan said: "Okay, I want to tell you about the current subprime mortgage market situation. This morning, the second largest subprime mortgage company in the United States [New Century Finance] announced that it filed for bankruptcy protection and laid off 54% of its employees.
This is the most shocking news to the market since mid-February. The subprime mortgage crisis has begun. What should we do now? "
Gao Yang asked: "How did the US stock market react today?"
Chen Lan said: "There is not much movement, the Dow Jones Index fell by less than -2% in February, which can be regarded as an early reaction.
March was a sideways trend. Today, the U.S. stock market closed, and the Dow and S&P also rose slightly.
After the news of New Century Finance came out, many financial commentators believed that the mortgage market began to collapse.
In addition, we held short positions in CDS. In the afternoon, I contacted several investment banks and asked them to conduct valuations. The consistent response was that the price of CDOs was stable and did not change.
According to the results of our own recent investigation, the default rate of subprime loans must have exceeded the warning line of 8%. "
Gao Yang asked again: "Sister-in-law, has the rating of subprime mortgage bonds changed recently?"
Chen Lan said: "Since mid-February, there has been no change. Neither Standard & Poor's nor Moody's has downgraded the credit rating of subprime mortgage bonds. However, the composite index of subprime mortgage derivative bonds ABX has fallen. However, investment banks and insurance companies' quotations for CDOs It just doesn’t change, which is a strange phenomenon.”
Gao Yang thought about it: "Sister-in-law, this is normal. Wall Street investment banks and rating agencies like Standard & Poor's want to maintain the stability of CDO quotations. They may have quietly opened short positions. We can only wait patiently for the opportunity."
Chen Lan asked again: "Then when shall we wait?"
Gao Yang said: "Sister-in-law, when the subprime bond rating is downgraded, that's when the storm really starts."
Chen Lan worried: "Gao Yang, we are now operating with 2.2 million US dollars, almost full of positions. If the quotation of CDO remains unchanged and the rating of subprime mortgage bonds is not downgraded, we may not be able to hold on."
Gao Yang thought for a while, and asked, "Sister-in-law, what about our $4000 million AAA long position?"
Chen Lan said: "I asked, and the quotation has not changed much, and we even have a slight floating profit, but if we sell it now, we may lose 5% or even 10% before we can find a buyer."
Gao Yang said: "Then clear out the long position of 4000 million US dollars and keep the cash for backup, even if it loses 10%, it doesn't matter. Our strategy has always been to wait for the subprime mortgage market to collapse and make money from empty orders."
Chen Lan said: "Okay, then I will contact you tomorrow and clear the long position first. Gao Yang, if the subprime loan does not collapse, what shall we do?"
Gao Yang asked with a smile: "Sister-in-law, do you believe it won't collapse?"
Chen Lan said: "From the perspective of market logic, subprime loans will definitely collapse, but I don't know when it will really start."
Gao Yang said: "Sister-in-law, we can only wait patiently. When the rating agency lowers the bond rating, it is the clearest signal. At that time, no one can stop the subprime mortgage collapse, and the bubble will definitely burst."
The two chatted for more than ten minutes before going offline, and the background data information of this special chat software was also automatically cleared.
Wu Ruohan had been listening to the chat between Gao Yang and Chen Lan, and sighed: "If the AAA-level long position has to lose 10% before someone takes over the order, it will be 400 million US dollars, which is a pity."
Gao Yang said with a smile: "If our short-selling can be successful, it doesn't matter if we lose all the 4000 million US dollars. It was originally used to deceive people. By the way, what will happen after it reaches the United States?"
Wu Ruohan said: "I just contacted Hanyun this morning, and her investment immigration procedures will be completed in the middle of this month.
Hanyu and Dorsey rented an 80-square-meter apartment in south Palo Alto, and Hanyu took care of Dorsey's life every day. They planned to officially hold their wedding at the end of April or early May.
By the way, with the 500 million funds included, after the full warehouse of Aodong, I made a few small Ts, and the cost dropped to 40 yuan. After the market closed today, it has rolled to more than 670 million.
I'll tell her tomorrow morning, and she'll be overjoyed. "
Gao Yang asked again: "How is Dorsey now?"
Wu Ruohan said: "Xuan said, Dorsey is very good, he has enrolled in Stanford's MBA training class, is also working hard to learn Chinese, and is selecting a CTO.
However, Yun Yun said that Dorsey and Williams had disagreements over the selection of CTO, and Stone supported Dorsey. "
Gao Yang said: "How did Dorsey solve this matter?"
Wu Ruohan said: "Xuan said that Dorsey's attitude is relatively tough, and in the end, Williams also agreed. Husband, will this Williams be a hidden danger for Twitter?"
Gao Yang said with a smile: "It's normal, before we invested in Twitter, Williams was the major shareholder of this company.
Now that Twitter has entered a stage of rapid development, he may want to regain control of such a company.
However, we designed special clauses in the original investment agreement. Dorsey and Stone, plus the voting rights of Android, have a total of 60%.
Williams does not control the company, he only has 32% of the voting power. "
Wu Ruohan thought about it: "If this person can't agree with Dorsey and Stone, I think we should find a way to weaken his voting rights."
Gao Yang said: "I've thought about it. Next year, Twitter should need new financing. At that time, while the android company continues to inject capital, it can buy part of Williams' equity at a high price, and finally reduce his voting rights. to less than 15%."
Wu Ruohan smiled and said, "This arrangement is the best."
Gao Yang said: "Yes, in a few months, Hanyun will be able to work at Twitter as Dorsey's assistant.
With the financing of Twitter next year, Hanyun can also invest some funds, get part of the equity of Twitter, and then serve as a director. "
Wu Ruohan said: "Then this year, I have to find a way to help Han Yun make more money in the A-shares. It's best to get out of her 500 million funds for 5000 to [-] million."
Gao Yang said with a smile: "With your trading sense and trading talent, there should be no problem..."
(End of this chapter)
You'll Also Like
-
The abyss invaded, and I awakened my magic profession!
Chapter 216 2 hours ago -
Multiverse: Beginning with Forced Binding
Chapter 677 2 hours ago -
The most powerful prince consort
Chapter 1336 21 hours ago -
Corpse Retriever
Chapter 159 21 hours ago -
Simultaneous travel: Starting from returning to the main god space
Chapter 114 21 hours ago -
Origin Player
Chapter 358 21 hours ago -
Unrivaled in Immortality
Chapter 503 21 hours ago -
The Master Behind the Scenes Starting from the Twin Cities
Chapter 633 21 hours ago -
Realms: Only I Traverse Through the Anime Multiverse
Chapter 480 21 hours ago -
I was assassinated by the reborn at the beginning, and I became a god on the spot
Chapter 483 1 days ago