My 1999

"We have looked at the materials submitted by Hanhua. Among the dozens of funds under your umbrella, the US hedge fund has the best performance?"

Xu Liang nodded and said: "The financial industry in the United States is more developed, and there are more financial instruments available.

It is also the country with the highest GDP in the world. With the same investment strategy, the return in the United States will be several times or even ten times higher than other places. "

Lou Wei nodded, with a glimmer of light in his eyes.

"Your Pacific Fund, with a raised amount of US$30 billion, can maintain a return rate of more than five times for two years. It seems really amazing!

Can I ask how this is done? "

“It’s very simple, collect enough detailed data as much as possible, and then formulate investment strategies based on this data.”

This is nonsense, but also a truth.

This is true for all investment institutions. The key is that some people make huge profits based on their investment strategies, such as Xu Liang.

Some people are just like their grandma’s family. There are too many people like this all over the world.

Although Lou Wei was a little disappointed not to get the answer he wanted, he also knew that this was normal.

We all meet by chance, why should I tell you my investment secrets?

"It's amazing. Europeans and Americans always have a prejudice that we Chinese people are not good at finance. Hanhua has rectified the name of the Chinese people."

"You're honored."

Looking at Lou Wei's expression, Xu Liang continued with a smile.

“Hanhua is now focusing on developing its securities business in order to provide better services to customers, especially institutional customers.

Based on Hanhua’s many years of investment experience and data, and with the help of Hongmeng’s big data and cloud computing R\u0026D advantages, we successfully developed the ‘Jingwei System’. "

"Can you tell me more about this Jingwei system?"

Lou Wei became interested.

"Of course. The 'Jingwei System' is a risk warning system when customers conduct investment operations on our company's website.

If the investment model, position, delivery, etc. appear to be high risks that the system considers, the 'Jingwei System' will prompt you in the background and give certain investment suggestions.

Of course, whether this suggestion is heeded or implemented depends on the opinions of investors and investment institutions.

We only provide friendly reminders. "

Financial institutions’ ‘risk warnings’ have become a normal setting after more than ten years.

Of course, this thing is also an imported product.

The first person to start working on this kind of thing was Aladdin developed by BlackRock, not the Aladdin in "One Thousand and One Nights"

Rather.

asset, liability, and debt, derivative investment network-work.

Translated, it is an acronym for ‘Assets, Liabilities and Debt and Derivatives Investment Network’.

The development of Aladdin, the global superbrain that grew out of the Equus computer that once sat in the pantry of BlackRock's first office, was an underwhelming development.

The first programs to run on the device were developed by co-founders Bennett Golub and Charles Halak, both early BlackRock employees and top MIT graduates.

It was written in 25 million lines of computer code, about the same amount of code Facebook needs to manage the personal information of billions of users.

Microsoft's Windows software is considered one of the most complex programs by technologists, with approximately 45 million lines of code.

This big data system, which is composed of software and huge databases powered by AI technology, has become BlackRock's main profit multiplier.

This will benefit many retail investors who do not have extensive access to various news in the financial market.

Hanhua’s ‘Jingwei’ is the Chinese version of ‘Aladdin’.

However, this system is too complicated, even though Hanhua has launched it.

But it is only in the internal testing phase and has not been officially launched to customers.

“Can our CIC use your ‘Jingwei System’?”

Lou Wei's eyes shone, he was a smart man and he immediately realized the value of Jingwei.

"Of course. But now 'Jingwei' is still in its infancy. There is not enough data and the predictions are not accurate enough. It can only be used as a reference and cannot be relied upon for actual investment." Xu Liang said with a smile.

Ten years later, everyone knows that the basis of AI is data. Whoever has more and more accurate data will have more sensitive and more valuable AI systems.

By releasing 'Jingwei', you can not only make money, but also obtain more practical data, fill in Jingwei's database, and make it more intelligent.

Why not?

"Okay, I will definitely go and see it some other time."

It was just a casual question at first, but unexpectedly a big melon exploded, which made him quite excited.

"We are always waiting for Team Leader Lou to visit us."

Back to the original question.

"Mr. Xu, at the cabinet meeting, it was specifically stated above that during the construction and operation of CIC.

We must rely heavily on Chinese-funded financial institutions operating abroad. He also specifically named Hanhua. He instructed CIC to cooperate more with you and learn from you. "

Xu Liang's expression turned solemn. Did this alarm the group of elders?

“You shouldn’t study improperly, but if your superiors have any instructions, just speak up.”

Lou Wei smiled and raised his hand, "Mr. Xu, you don't need to be so restrained. There are only two of us in the room now. We can just chat like two friends or two business partners. Speak freely and don't stick to formalities.

There were too many people that day, so I didn’t have time to talk to you about many things. "

Xu Liang nodded and said yes, without saying much.

"Since the moment CIC was established, it has formulated its business scope."

Lou Wei looked at Xu Liang:

"Investment in foreign currency financial products such as domestic foreign currency bonds;

Investment in foreign bonds, stocks, funds, derivative financial instruments and other financial products;

Equity investment at home and abroad;

Entrusted investment abroad;

Entrusted financial institutions to make loans;

Entrusted management of foreign exchange assets;

Initiating the establishment of equity investment funds and fund management companies, etc.

You should have heard that most of the asset allocation must be in foreign currency, which is related to foreign exchange reserves. I won't go into details about the reasons.

Of course, domestic equity investment will not be ignored. But this part will not be the focus.

The scale of the domestic venture capital market is only several billion US dollars a year, and the pool is too small.

If we spend too much of our 200 billion US dollars, we can't hold it back at all. "

Xu Liang nodded, "I know this. CIC takes out 1% of the assets it manages every year, or even a few tenths of a percent, which is actually enough for domestic equity investment."

Lou Wei smiled and nodded, "I asked you to come here today, actually I want to talk to you about two things.

The first thing is that CIC intends to invest 3 billion US dollars and serve as the LP of Hanhua US Hedge Fund. "

Xu Liang understood, and he really saw the return rate of their hedge fund.

Referring to CIC's 200 billion US dollar scale, investing 3 billion US dollars is not much, but it is not a small amount.

After all, it is the first cooperation between the two parties, and there is still a lack of trust.

"The second thing is that CIC intends to invest 3 billion US dollars for domestic equity investment and purchase Xu's 20% of Ali's equity. "

Xu Liang was stunned. Why did they suddenly want to invest in Ali?

Lou Wei smiled and said, "Of course, we won't force you on the second matter.

The price can also be negotiated, and we will respect your choice, Mr. Xu.

We have searched around the domestic Internet and technology industries, and found that in addition to Hongmeng, Ali is more in line with our investment standards.

We still attach great importance to domestic equity investment."

Xu Liang said calmly, "Ali is a bit troublesome. Most of the 49.9% of Ali shares held by Xu's company are put into an S fund "Phoenix".

This fund has some foreign investors.

Currently, this Phoenix Fund has just been raised, and it is a bit unreasonable to withdraw now."

Seeing Lou Wei's thoughtful face, Xu Liang added, "Or this way, CIC subscribes to a part of the Phoenix Fund shares. In addition to Ali's shares, the investment portfolio also includes shares of high-quality companies such as Facebook, YouTube, NBA Warriors, and Hynix."

Lou Wei looked at him deeply and smiled.

"Will this not embarrass Mr. Xu?"

"How could it? The sovereign wealth fund is just making normal financial investments, as long as it complies with relevant laws."

Seeing Lou Wei thinking, Xu Liang was also thinking. If his guess was correct, CIC would invest in Morgan Stanley, which was equivalent to indirectly investing in Facebook.

Now he has brought CIC into Phoenix Fund, which is equivalent to indirectly investing in Facebook.

It is less sensitive, and at the same time, it can also bring in national power to protect its assets.

After thinking for a while, Lou Wei replied: "I personally prefer the plan to buy shares of Phoenix Fund, but it still needs to submit a proposal to the board of directors."

Xu Liang nodded, "It doesn't matter, it's a matter of course."

"Mr. Xu, if you have any requests, you can put them forward at the same time, and I will report them to the board of directors."

Lou Wei thought about it and felt that Xu Liang was so generous, maybe he had some demands.

"No special needs. By the way, several offices of Hanhua in China are currently setting up real estate opportunity funds. If CIC is interested, you can invest some."

"Do you think the future trend of real estate is good?

The country has been regulating the property market recently. It is difficult for real estate companies to go public, so they can only turn to Hong Kong stocks."

Xu Liang smiled and replied: "The domestic urbanization rate is still too low. Even if the property market is sluggish now, it will rebound in the future. I am optimistic about the Chinese property market in the long run.

How did Blackstone grow and become stronger?

Isn't it still relying on real estate funds?

Hanhua wants to become an influential asset management company in the world, and the property market is always an asset allocation that we cannot avoid."

Lou Wei understood instantly, and after thinking for a moment, he replied: "Okay, send the materials over, and I will report them together. But Hanhua should be mentally prepared. CIC has already planned to invest 6 billion US dollars in you.

If it is more, the position will be too high."

Originally, Lou Wei did not intend to remind him of this, but he saw Xu Liang's generosity and said another sentence.

"Can you transfer some of the shares of hedge funds and Phoenix Fund to real estate funds and private credit funds?"

With the support of CIC, it will be easier to compete for some high-quality plots of land and obtain bank loans.

Lou Wei pondered for a moment and said, "Okay, I'll try my best."

"Thank you."

Lou Wei waved his hand, "Mr. Xu is too polite. Our cooperation is mutually beneficial."

Xu Liang smiled and said nothing more.

In the eyes of ordinary people, his actions are that he makes money for the country and gives some high-quality projects to CIC.

This is too superficial. In fact, it is to contribute to the country and take on greater responsibilities.

The money and benefits he earned from Facebook and YouTube did not benefit the country at all. He did not solve taxation and employment, nor did he drive industrial development.

If something goes wrong, why should the country protect you?

Just a passport? At most, you can evacuate just one overseas Chinese, which is not enough for the country to devote a lot of resources to protect you and help you tide over the difficulties.

Rights and obligations have always been equal.

In fact, through the choices of Huo, Ren, and Li, we can understand the big businessman's way of life.

…………

"Plan failed!"

Cai Chongxin walked into a Zen room and sighed.

Ma Yun, who was meditating on a futon in Tai Chi suit, suddenly opened his eyes.

"What failed?"

"People from CIC told me that they decided to purchase shares of Hanhua Phoenix Fund and no longer seek to directly acquire Ali's equity."

Cai Chongxin shook his head as he spoke, with a very ugly look on his face. This was a trick he came up with, using CIC and national justice to suppress Xu Liang.

Unexpectedly, he was defeated by the opponent so easily, and he might even provide an assist in turn, allowing Xu Liang to close the distance with the CIC, and Hanhua received a big help!

What a huge mistake!

Ma Yun frowned, "How could this happen? People from CIC are so easy to talk to, so Xu Liangrang can do whatever he wants?"

As he talked, Ma Yun actually became angry.

This is not because he cannot control his emotions, but because he and Cai Chongxin have been making intensive preparations since the end of last year to find a good strategy to expel the Xu family.

Be your own boss.

So he repeatedly looked for opportunities to dilute Xu Liang's equity.

Yahoo's financing was the means they prepared with great concentration.

But Xu Liang was unwilling to dilute life and death, so they had to find another way.

CIC was the second method they thought of.

Their calculation was very good, and CIC was the one to make the opening. Even if Xu Liang was reluctant, he still had to give him some face. It would be best if he could clear out all Ali shares held by the Xu family.

If not, clearing ten or eight points is also a good result.

On the one hand, Xu's shareholding has been reduced, and on the other hand, CIC, a member of the national team, has been introduced. While increasing domestic shareholding, it also has a backer and can obtain many hidden benefits in future development.

As a result, all plans were in vain and none of the goals were achieved.

This can not help but make Ma Yun, who has always been conceited, a little frustrated.

He let out a long sigh: "Hey, Xu Liang is too slippery to hold back. He got on Ah Li's boat and refused to get off."

The bigger the company grows, the less he wants there to be constraints from people above him.

Xu, who controls half of Alibaba's shares, is a thorn in the flesh.

"What's the next step? Are you going to expel the Xu family?" Cai Chongxin asked.

"What do you think, let's go to him directly and find a syndicated loan to buy back at least half of the equity at a premium."

Ma Yun said with a serious face: "I have calculated that according to Ahri's current business growth rate, the valuation and market value can increase three to five times in three to five years. Even if you spend more money now, you can make it back in the future."

Cai Chongxin shook his head, "He won't agree. If you can see Ahri's potential, he can naturally see it too.

Ahri is engaged in e-commerce, and he is also engaged in e-commerce. No matter who loses or wins, he can remain invincible. "

"His calculation was so good." Ma Yun knocked on his aching head, "Why did you so blindly agree to his financing in the first place?"

"Now and then, I can only say that Xu Liang is too ambitious and will never see the boundaries of his expansion."

Cai Chongxin commented very calmly: "If this continues, he will either build a Morgan-style capital empire, or he will collapse halfway through his business."

Ma Yun nodded: "Well, I think so too. Most of his industries are not listed on the market, and now he has to get involved in a capital black hole like semiconductors. Sooner or later, there will be problems with the capital chain."

"So, before it is exposed, let's not make any more unnecessary attempts. If we wait, until there is a problem with his industry, our opportunity will come.

Or, he might take action when Ahri goes public. "

Ma Yun nodded lightly, "That's all. Now his foundation is too deep to be shaken."

Even though they said this, they themselves had little confidence.

Boss Xu spent eight years building a huge Xu Group that mixed finance and industry.

Hongmeng, Hanhua, Kanghua, Hynix, and Vidyon, these world-class giants, are the most powerful pillars of support for the Xu family.

It’s daunting.