The Son of Finance of the Great Age

  Chapter 546 I am the most beautiful (Part 1)

2007 is destined to be an extraordinary year, because the crisis brought about by subprime housing mortgages has turned many people into homeless people, and many financial institutions have been involved in this crisis because of subprime housing mortgages. In the vortex of the field. Although the Federal Reserve still believes that the crisis is under control, what they don't know is that not only the giants of Wall Street have been deeply involved in it, but even the real estate giants and insurance giants whose assets are far larger than Wall Street are also deeply involved. Get stuck in a quagmire.

  They would never have imagined that the crisis brought about by American real estate would have a profound impact on Europe, and even some countries would face a crisis of bankruptcy as a result.

  Every financial crisis, no matter what the reason is and what the result will be, will have a redistribution effect on social wealth, without exception! The pattern of interests has been ruthlessly shattered, the old wealth groups have been destroyed, and new elites will rise. Just like the sterling crisis in 1992, Soros made a lot of money; the Asian financial crisis in 1998, Zhongshi took advantage of the situation to rise; the technology stock bubble burst in 2000, Tiger Fund was liquidated overnight. This time, too, there are winners and losers.

  No one will remember the loser, because all eyes are on the winner. This time it was John Paulson who was on the stage, a guy who was still unknown on Wall Street a year ago, and suddenly became the top of the wealth upstart list overnight and became the focus of the whole world.

As someone who accurately "predicted" what would happen before the subprime mortgage crisis hit, John Paulson personally raised two funds to short CDOs and long CDS, and the market did just as he imagined In this case, Paulson's fund naturally made a lot of money, and its figures made the whole Wall Street feel incredible.

  US$17 billion, this is the profit that the outside world speculates that Paulson earned this year. According to the proportion of internal funds, the media speculated that he himself earned at least 3 billion to 4 billion US dollars, which were earned in the past year, not including the achievements in 2006.

  In the history of Wall Street, no hedge fund has been able to earn as much as $17 billion a year. Even if it is a large investment bank, most of them cannot achieve a yearly net profit exceeding this figure, and such institutions basically have tens of thousands of employees at every turn. Even if this figure is included among the entire Fortune 500 companies, most of them cannot reach the level of annual net profit of 17 billion US dollars, and their asset scale or number of employees far exceeds that of Paulson Fund.

It is precisely because of this contrast that the wealth myth created by the Paulson Fund is so shocking that at some point, in order to show respect, people call Paulson "the guy who made too much money". replace his name. And media from all over the world frequently called the public relations department of the Paulson Institute, hoping to obtain an interview with Paulson. Naturally, Paulson declined all these interview requests one by one. After all, the hedge fund industry is not a high-profile industry.

  Being famous brought another benefit to Paulson, that is, it became easy for him to raise new funds, and he would no longer need to rely on investment bank channels as he did at the beginning. As long as he is in the market today saying he needs to raise a new fund, tomorrow investors from all over the world will come to New York waving checks, begging Paulson to help them manage their money. It’s just that the current Paulson is not ready to open a new fund, because with the rapid expansion of the funds under management, Paulson Fund’s research staff is seriously insufficient. During this time, they are busy actively recruiting analysts in the market .

  The scale of fund management is the natural enemy of the rate of return, which Paulson deeply agrees with.

   "Did you evade it?"

   Paulson in the mirror flicked his straight formal attire, as if he was dusting off non-existent dust, then turned around and straightened the dark red tie around his neck before nodding in satisfaction.

  Investment banks are known as clothing shows, which can be regarded as commendatory or derogatory. However, for hedge funds, the rules are not as strict as investment banks, but this group is not short of money, and expensive formal clothes and shirts abound. But most analysts don't care about this, and a simpler and cheaper suit will do. And the big bosses usually come to work in a casual suit, because their line of business does not need to be as glamorous as investment banks, they only need to be responsible for the client's funds.

   On this day, Paulson put on a brand-new Ralph Lauren suit and a low-key dark red tie for an unprecedented time. Naturally, he was going to attend an important occasion. In fact, on this day, he will attend a Congressional hearing in Washington, face the interrogation committee composed of members of the House of Representatives, and appear in front of almost the world's media. Naturally, he must dress dignifiedly.

   "It's been evaded!" The person in charge of Paulson's public relations department, Ralph Jefferson, was a short-haired and thin guy. Since the Paulson Fund has grown rapidly, Paulson realized that they should set up a department dedicated to dealing with the media. Ralph Jefferson, as the head of New York's top public relations firm, was poached by the Paulson Fund in this way. come over.

Ralph put away the hot phone, and couldn't help complaining to Paulson: "Boss, there are too many clients who have asked you to handle funds recently. Although I have spoken very politely, but It is still inevitable to offend some people. You should also know that some billionaires have weird tempers and cannot be guessed according to common sense."

"It doesn't matter, we already have the biggest benefactor, so don't care too much about the rest!" Paulson curled his lips, with a rather disapproving expression, waved at Ralph, pointed to his clothes and said, "How is it?" , this attire? Those old fellows on the committee won't have any bad impressions, will they?"

Ralph stepped forward, looked up and down, nodded, and when his eyes fell on Paulson's chest, his brows frowned involuntarily, "This color is wrong, although it is low-key, it will give people a sense of It's a victorious vibe. You know, the old guys on the committee are conservative and stubborn, and they don't like this color. You should change to a dark blue one, which may suit their taste better. "

"Is that so?" Paulson looked down at the tie on his chest, feeling something was wrong in his heart. He immediately untied the tie, replaced it with a dark blue one, and rearranged it again until Ralph After nodding, the act of dressing came to an end.

  His entourage has long been waiting outside the door, including lawyers, public relations consultants and bodyguards. When Paulson stepped out of the gate, these people swarmed around him and surrounded him tightly. Soon, a long line of convoys set off from downtown New York to JFK Airport, where a private jet was already lined up, ready to depart.

   Thank you book friend Xiao Qi for the miracle of civilization, the sea breeze blowing, and the roaring useless people who voted monthly!

  (end of this chapter)