The Son of Finance of the Great Age

  Chapter 153 Recruitment (2)

  As the so-called technical industry has specialization, it seems that the research and strategy of stocks and futures are not the same thing. Even in the same market, different varieties of futures are quite different in terms of fundamental research, technical analysis and operating strategies. Therefore, when Maxim heard that brokerage channels for different types of futures were opened, one can imagine the shock in his heart.

  If there is still a connection between stocks and stock index futures, then the connection between crude oil and copper is not so close. One main battlefield is in New York, and the other is in London. Maxim does not think that opening the LME brokerage channel is for other products. After all, the trading volume of copper futures on this exchange is the largest, almost occupying the entire world Ninety percent of copper futures trading volume. A large transaction volume means that the amount of funds that can be accommodated is also large, and there is naturally a lot of room for profit.

After listening to Zhong Shi's introduction of the amount of funds in Tianyu Japan, Maxim thought that in addition to Japan, there are also several funds such as Europe, America, and China Growth, and there are still 500 to 600 million US dollars of funds that have not been explained. Shi didn't need to explain to him, a quasi-fund manager, but the shrewd Maxim quickly deduced from the few words just now that there were only a few markets that could accommodate such a large sum of money: crude oil, gold, copper, stock index, etc. Futures, bonds, etc.

The current financial markets are not as developed as later generations, and the connections between them are not as close as they were later. Among them, the bond market can accommodate the largest amount of funds, especially since the 1980s. The junk bond market has developed rapidly, driving a A large number of financial institutions have entered this market. However, the investment focus has now shifted from junk bonds to monetary mechanisms.

"We do all kinds of products, as long as they are profitable!" Zhong Shi looked at the shocked Maxim and said lightly. At the end, he seemed to think of something again, and turned around and added, "By the way, I forgot to tell you that Tianyu Capital’s first transaction has been completed, which is a bullish yen option.”

   "Bullish yen?" Maxim was dumbfounded again. Although he hasn't paid attention to the Japanese stock market for a long time, he still has a little understanding of the recent trend of the yen. Benefiting from the continuous rise of the US economy, the exchange rate of the yen against the dollar has tended to weaken in recent months. This is because The demand in the US market has increased, and Japan has increased its market share through the depreciation of the yen, stimulating exports and stimulating the growth of the domestic market at the same time.

After Zhong Shi took a deep look at Maxim, he said in a somewhat flattering way: "For the decision I made, it's best not to question it. Well, you can go find the apartment or something now, remember Stop, don't question my decision!" After finishing speaking, he walked away with Maxim's helpless and puzzled expression.

  Besides the Japanese fund, there are several other fund candidates that need to be determined. Zhong Shi has been so busy during this period that he finally confirmed all the managers of all funds before he flew to Chicago again.

  For Japanese funds, there are three fund managers, namely Maxim, Sato Tao and Gu Shizhong. Among them, Tato Sato is a senior analyst dug from Nomura Securities, and Gu Shizhong is from Yizhou. He has studied in Japan for many years and worked for Nomura Securities before that. The three are in charge of a capital of 100 million U.S. dollars, of which Maxim and Sato Tao are 40 million U.S. dollars, and Gu Shizhong, who is slightly less senior, has a scale of 20 million U.S. dollars.

Under them, there are five industry analysts poached from investment banks such as Nomura, Peregrine, and Macquarie. Research reports are shared with each other. It stands to reason that such a small research team is responsible for so many industries and companies, which seems very unreliable. But don't forget, each fund is backed by the research team of the investment bank, who makes them a buyer's market!

  As a fund using their brokerage channel, investment banks spare no effort to support them in terms of research reports, commission rates, and primary market subscriptions. After all, self-operated business is far from becoming their main means of profit these days. IPO (Initial IPO) is the biggest profit point for the traditional investment banking business, and it needs strong support from funds from issuance, price negotiation to final listing.

  The team alone spends more than $1.5 million per year, but the fund's annual fixed management fee reaches 1.5%, which is considered break-even from this perspective.

  The same is true for the Tianyu European and American Fund. Three senior Caucasian traders from Merrill Lynch, UBS, and HSBC act as fund managers, and there are seven junior analysts under it. The difference from Japanese funds is that they do not need to study the index. After all, there are margin financing and securities lending projects in the European and American markets, and risks can be hedged by short selling to a certain extent.

Tianyu China Growth Fund is all Chinese fund managers. This is related to the abundance of financial talents in Hong Kong. The research department is all from Peregrine. These people have been immersed in the Hong Kong market for many years and are familiar with the local game rules. It was also one of the reasons why Zhong Shi recruited them.

The allocation of funds is like this. Skyline International Holdings has invested 50 million US dollars in funds in three different markets. The investor composition of the Japanese fund also includes a Japanese company that is inextricably linked to Nomura Securities. In addition to these two investors, HSBC's private sector also contributed part of the funds. European and American funds are covered by HSBC, Standard Chartered and Macquarie, as well as part of the funds of Yuedong. The China Growth Fund has many investors. In addition to an investment company in eastern Guangdong, there are also local investors like Peregrine, Huayin Hong Kong, and some large clients who have listened to the advice of private banks.

Naturally, these financial institutions are not in the name of their companies, but they have some connections in private. For example, Merrill Lynch Asset Management invested 5 million US dollars in European and American funds, because of their former senior traders and current fund managers. For the sake.

  The rest of the funds, including Liao Chengde, Andrew and Li Mingyang, are fully managed by Zhongshi, with a scale of 900 million US dollars, most of which are Zhongshi's own funds.

  Although Zhong Shi once publicized internally that this fund is only open to internal employees, how can these people who have been in the industry for several years easily believe Huangkou Xiaoer's "big words"? When Liao Xiaohua talked about it to Zhong Shi with some indignation, Zhong Shi just smiled lightly. It is difficult to obtain a high rate of return with a large amount of funds, but once such an opportunity is available and captured, it is enough Let these people change their minds.

In the mainland, the business of Huade Real Estate is also being carried out in an orderly manner. Among them, an investment agreement with Jiangdong City has been signed. A large-scale film and television base, and cooperated with Zhang Wei in Nandu to establish a cultural communication company. This cultural communication company with a registered capital of 5 million yuan is naturally fully funded by Zhong Shi, and Zhang Wei nominally occupies the 10% of the shares, with the title of deputy general manager, and most of the recruited personnel come from professional institutions such as TV stations and advertising companies.

   This kind of investment is purely petty. Zhong Shi didn't pay attention to this company at all, so he left Zhang Wei to fiddle around. At this time, he really didn't carefully start the construction of the real estate company. First, he was too busy with time. Second, the current domestic real estate market was in a depression. The lessons of 1993 were still vivid in his mind, which made most real estate companies The market can only develop in first-tier cities.

Now in the hands of Zhongshi, there is a wholly-owned real estate company with total assets of about 5 billion Hong Kong dollars, which has benefited from the development in the Mainland for more than half a year; there is also a capital management company, most of which are funds. Zhongshi’s own, and several offshore companies, are basically single shareholder and do not make industrial investment.

After doing the math, in addition to the US$1 billion invested in the European bond market and the US$1 billion invested in Tianyu Capital, Zhongshi currently has more than US$1 billion in his account. These funds must be found in a good investment direction as soon as possible. , You must know that putting cash in the bank to eat interest is the most stupid way to invest.

   "The U.S. Treasury market seems to be showing signs of collapse recently? Is that time coming?" Zhong Shi sat on the plane thinking silently. Although his eyes were covered by blindfolds, his heart was very clear. For a trader who worked in the bond market in his previous life, he is familiar with the years and years when the yields fluctuated sharply on which bonds, and the collapse of the bond market in 1994 due to the unexpected interest rate hike by the Federal Reserve is coming. This made him feel a little excited while thinking about it. You must know that he was not qualified to participate in this big collapse back then, and now it is just the right time.

  Every market crash is a redistribution of wealth, without exception, even in later generations, some countries and forces will not hesitate to launch wars for the redistribution of wealth. Some wars under the banner of "saving people from fire and water" have ulterior motives behind them, and it would be shocking to speak out. Among other things, let’s just talk about the debt crisis in Iceland. According to Zhong Shi’s knowledge at the time, a senior partner in Goodman’s London department used some kind of debt to cover it up, and even delayed it for a long time. He couldn't hold back the fire, and eventually it was revealed.

Of course, the timing of the exposure is also very interesting. Just when a series of appalling crises of confidence occurred in the United States, and then European debts broke out one after another, causing most of the European governments and bonds to suffer a credit crisis. What is the final direction? , Zhong Shi in his previous life didn't know, but he could imagine that it was definitely an intensified situation.

   Thanks for the monthly ticket support of book friend Depressed Woman! At the same time, thank you for making me think again and rewarding again!

  (end of this chapter)