Global monopoly of technology

(Some readers think that the protagonist’s hair will be fucked this time. With the old and beautiful urinary sex, nothing can be changed. When the time comes, I will fuck you when it’s time to do it. I see the high-tech field really When the competition fails, the gangsters start to play. Of course, the protagonist will only hate the protagonist even more with this wave of eagle sauce. Mr. Luo: Don’t overwhelm you with debt...)

——

new York.

Just like Buffett’s widely circulated investment motto: Fear when others are greedy, and be greedy when others are fearful.

If you want to interpret it as a one-act play, John Paulson may be the best actor.

It is worth mentioning that Henry Paulson, the current US Treasury Secretary, has the same name as his, but the two people do things very differently.

This morning in New York’s Zhongyang Park, 51-year-old John Paulson was jogging along a lakeside path here. Unlike other morning exercisers who are relaxed, he looks frowned at the moment. Looks preoccupied.

Nowadays, the North American housing market is in full swing like the branches and leaves of this park, but this makes John Paulson's fund that specializes in short mortgage bonds has been losing money.

What’s more, the news about the positive housing market is now overwhelming. Optimistic housing market experts and lending institutions have been advocating that housing prices will continue to rise, or that the federal authorities will lower interest rates to maintain the market.

However, John Paulson firmly believes that winter will come.

By that time, no matter how prosperous the branches and leaves will be withered in the bone-to-heart cold wind, but John recently wanted to prepare for the establishment of a second fund of the same kind.

Jogging in the picturesque New York Zhongyang Park is a good way to relieve stress. John tightened the zipper of his sweatshirt to speed up the pace...

A few minutes later, John's assistant came to the park, and hurried up after seeing him.

"Sir, a mysterious investor contacted the hedge fund. He allegedly brought $3.3 billion in funds and hoped to entrust it to the Paulson hedge fund."

John immediately stopped and turned his head to look at his assistant, and said in surprise: "What did you say? $3.3 billion?"

His assistant nodded affirmatively.

John: "God, who is it?"

His assistant shook his head and said: "I'm investigating. The information shows that it comes from a trust fund that has not been established, but he wants to meet you personally, and he claims to have come to New York. I hope to see you today. Say it's in a hurry."

John Paulson became more curious, but he was more excited. He was preparing to build a second fund of the same kind. He didn't expect investors to bring such a huge sum of money.

"Reply to him, I'll see you right away."

John Paulson did not hesitate, and immediately ended the morning run. He left the park and went back to take a bath and put on a suit and leather suit. Then he went to meet in person at the address given by the other party.

...

In the past two hours or so, John Paulson came to a hotel on Manhattan Island and saw his curious and mysterious client in a suite living room.

"My God is you... Mr. Luo?"

At this moment, John Paulson looked at a young Chinese man in his eyes with a look of sorrow, except for Luo Sheng.

Obviously, John Paulson knows his name, and it is impossible not to know him. Luo Sheng is now a well-known technology giant in Silicon Valley or Wall Street.

He is also the world's first-class super rich, and he knows all the celebrities on the rich list.

"Please sit down, Mr. John."

Luo Sheng said with a smile, Qin Weimu was also in this living room, but John basically ignored her.

After the shock, he was almost digested. He immediately sat down next to him and said thank you. Then John said: "I didn't expect that the mysterious investor I met would be the Internet giant nowadays, Mr. Luo, what I want to know is , Why did you find me?"

Hearing that Luo Sheng stared at the other party without shying away from the right gaze, Yun said calmly: "I have a sum of money in my hand, and I want to trust this world's most profitable hedge fund for a period of time. And now sitting in front of me is one of the most sensitive cheetahs on Wall Street."

There was a movement in John's heart, and it seemed that he was quite shocked by what he thought of, but it was a cheetah from Wall Street. His mental activity did not show up, but tentatively asked: "I'm sorry, Mr. Luo, are you too? Seeing that the housing market is going to collapse?"

"Yes."

Luo Sheng admitted without hesitation.

In the end, he picked up the goblet on the table and motioned to John Paulson to invite the cup, then took a sip, shook the glass of wine and said to himself:

"The North American housing market should start the skyrocketing model in 2001. In that year, the then head of the Federal Reserve, Greenspan, in response to the bursting of the technology stock bubble and the market panic caused by terrorist incidents, quickly reduced short-term interest rates from 6% to 1.75%. In the following two years, it continued to be reduced to 1%, and it remained until 2005."

"Excessively low interest rates have caused flooding of liquidity. The Case-Shiller Index of 20 major cities in North America has almost doubled in five years. From the previous year to last year, almost everyone was immersed in the great market scene. Financial institutions are doing subprime loans."

John Paulson was shocked. Although he knew that he was definitely not the only one to see the potential crisis, Luo Sheng's words were unbelievable. From the other side's tone, he seemed to say that he had a hunch five years ago. ?

This……

Isn't he mixed with technology?

Crisis is an opportunity in the eyes of short funds.

At the same time, Luo Sheng continued unhurriedly: "I don't know if Mr. John feels it. The subprime mortgage crisis seems to have begun to take shape since last month. The market is prosperous on the surface but it is already under great pressure. Within two months, there is no need for the housing market to fall. As long as the rise slows down, a crisis will emerge."

At this time, John Paulson's heart turned to be refreshed. He didn't know why Luo Sheng was so determined, but it didn't matter.

The second fund was not unexpectedly settled. As for the identity of the other party, who cares? In John's eyes, Luo Sheng is one of his potential big clients, just like other investors.

Everyone’s bond is maintained, and that is... Franklin, the green dollar bills, nothing more.

John nodded again and again: "Fully agree. The research department of my hedge fund researched subprime mortgage products. Through the mathematical model established, it found that the housing market does not need to fall at all. It only needs an annual growth rate of less than 5%. The default rate will rise sharply. In fact, through analyzing a large amount of data, we found that the default rate had already risen a lot before the peak at the beginning of last year."

Speaking of this, Luo Sheng opened his mouth and John quickly added: "But Mr. Luo, although I firmly believe that the housing market is going to collapse, I still can't find financial tools to express an accurate view."

From the past, the other party's eloquent remarks made John Paulson realize that although the other party is in the technology sector, he is obviously a financial expert. Even if he is not, there must be an expert behind him.

It is a wise choice to be honest when dealing with such a person, not to mention that the other party is willing to come to him.

There are so many funds on Wall Street. Jelson hedge funds are not the only option, and John knows this very well.

Luo Sheng said straightforwardly: "You don't need to show me any theoretical model to prove that the housing market will collapse, because I am more convinced than you that I have $3.3 billion in funds here that can be remitted to your hedge fund at any time. , This will be the greatest deal in history, Mr. John."

John: "Yes!"

This is enough for dealing with smart people.

The two sides hit it off, and the matter was finalized within three days.

Luo Sheng’s US$3.3 billion was remitted to the Paulson Fund. For this reason, John Paulson’s foundation will draw 0.9% of the profit from it as a fund management fee according to the agreement between the two parties, and John will also enjoy an extra A huge reward, which is proportional to the rate of return the foundation brings to investors.

It is worth mentioning that this agreement was not signed in Luo Sheng's name. He was very cautious. John also saw that the other party wanted a low-key bloodbath.

But it doesn’t matter to John. He only needs to invest the money in a Paulson hedge fund. Even if the other party is not so cautious, John will not disclose his investor information, even if the FBI comes to investigate. Will refuse without hesitation.

After all, this is something related to your career.

The funds will be used to short-sell CDOs cheaply and efficiently through short-selling of bond credit-backed debt certificates (CDOs) with subprime bonds as collateral, and the purchase of credit default swaps (CDS).

John Paulson received Luo Sheng's huge sum of US$3.3 billion, which directly led to the successful birth of the second Paulson fund of its kind.

The two funds he managed quickly emerged on Wall Street. After a while, a large amount of anonymous funds poured into the Paulson Fund, the total size of which even reached an astonishing $30 billion.

If the North American side finds out that Luo Sheng is one of the big shorts and makes a lot of money from it, he will definitely hate him even more.

But for Luo Sheng, it will be a matter of time for Lao Mei to start with him, and there is no reason not to take advantage of the good opportunity to make as much as he can.

...