Good news always comes one after another.

On the 12th, Jiang Ping and Su Fangqi went to Los Angeles to join Qi Zheng's investment fund.

Su sat down in the office of Qi Zhengyu Jiagu American Branch, looked left and right, and then teased Qi Zheng with a smile: "I said Xiao Qi, your office space is not worthy of your value, it's too cheap!"

Qi Zheng remained silent, "Compared with vigorously claiming the throne and competing for hegemony, I am more willing to be an obscure sweeping monk." ”

"Sweeping monk?" Su Fang was puzzled by this statement.

"I've watched "Tianlong Babu", isn't there a sweeping monk of Shaolin Temple in it?

Su Fang suddenly, hehe smiled, from these words, you know that your kid is really righteous on the outside and sullen on the inside.

Qi Zheng didn't care about him, and looked at Jiang Ping, who was smiling on the side, "Brother Jiang, are you resigning?"

Jiang Ping nodded and said with a smile: "You threw money and promised last time, and few people can withstand your temptation." When I got back, I submitted my resignation to Lehman and was ready to board your thief ship. ”

Qi Zheng and Su Fang both laughed when they heard this.

Jiang Ping continued to sigh: "It is common for people on Wall Street to change jobs, but there are very few people like me who have reasonable performance, but have very low income and stay for seven or eight years. At this time, the owner of Lehman tried his best to keep me, and came up with millions of dollars in retention incentives, including cash, increased dividends, and loans......"

"It's too late, I'm not moved anymore, because all this courtesy came too late!"

Qi Zheng couldn't help but rejoice: "Indeed, only at this time can they know what they have lost, and in the future, they will know how much of a loss it is to not leave you." ”

Jiang Ping waved his hand, "Yes, Xiao Qi, don't put a high hat on my head, it will add pressure to me." ”

When Qi Zheng heard this, he immediately stopped joking, and said to the two of them with a straight face: "You came at the right time to help me establish the investment fund." I'm going to invest $300 million upfront, and I hope you don't dislike the size of your portfolio. ”

Jiang Ping shook his head and said, "Where is it? I haven't managed more than 200 million assets in Lehman Brothers, how dare I say something disgusting?"

Su Fang also nodded wildly on the side.

Qi Zheng nodded and continued: "As I said earlier, my ultimate goal is to establish an integrated supply chain of futures and spots. However, it is clear that our spot trading supply chain is still blank, and this piece does not mean that it can be established immediately if it wants to, but it can be tested in the futures market first. ”

"Therefore, putting aside the risk management combined with spot for the time being, we will first set up an investment institution. It can not only accumulate manpower and experience for the unified management of financial risks in the future, but also obtain benefits through speculative transactions to support the company's M&A cooperation and business expansion. So this time we started a hedge fund and then expanded or transformed. ”

What exactly is a hedge fund?

Hedge funds became a topic of interest after George Soros sniped the British pound to bring down the Bank of England, and sniped at the Thai baht and the Hong Kong dollar, triggering the Asian financial turmoil and thus becoming a wealthy country.

Are hedge funds the virus that is causing the market to stalemate? Or are hedge funds simply a conspiracy to dominate the world? Questions like these are increasingly being talked about, but few people really understand hedge funds.

Because people who really understand it don't always talk about it. And it's hard to find some of the top fund managers – they're either hiding in their caves or diving in the island of Bora in French Polynesia.

But at the end of the day, a hedge fund is just an investment vehicle.

Although it happens to be a little less restrictive than most investment vehicles — ordinary investment vehicles, such as mass-manufactured, well-known mutual funds, can buy stocks and bonds for you, but that's about it. Most don't even allow "short selling". Hedge funds, on the other hand, can use any investment tools, including short selling, leverage, and derivatives such as options and futures.

An industry elite at AQR Capital, a top hedge fund, summed up the essence of hedge funds: it is a less restrictive way of operating as a pooled investment. Relatively unregulated, at least for now, the fees charged are quite high, but the fund doesn't necessarily give you your money back if you want it back, and it generally doesn't tell you what they do. Investors will expect them to make money all the time, but if the fund fails to do so, the investor will immediately jump ship to another institution that has been making money recently. Every three or four years, they create a catastrophe that is "not in a hundred years".

Jiang Ping and Su Fang pondered for a while when they heard this, and then Jiang Ping asked, "So, what about the investment strategy of hedge funds?"

Qi Zheng replied: "Based on the company's development strategy, the fund's investment strategy will include long and short positions, arbitrage, equity, global macro, absolute return, momentum, multi-strategy, etc. Its primary investment targets include commodities, equities, private equity funds, and venture capital funds. Of course, I know that Brother Jiang, you have a lot of research on foreign exchange and currency investment, and you can add any comments you have. ”

Jiang Ping shook his head: "This does not hinder me, I can invest according to the company's investment strategy, if it is not a great opportunity, I will not spend too much energy on foreign exchange currencies." ”

Su Fang asked: "I know that commodities will be the focus, so which categories should we start with?"

Qi Zheng didn't answer, but instead set his eyes on Jiang Ping.

Jiang Ping groaned slightly, and then gave the answer: "Crude oil!"

"On the one hand, as the king of commodities, its endless industrial value makes it recognized as the best financial investment derivatives, with huge trading volume and many opportunities. On the other hand, in my judgment, crude oil is basically at a low point at the moment. According to my research on the world economy, the price of crude oil will accelerate in the coming years, and there will be a lot of opportunities in this. ”

Qi Zheng nodded secretly, the reason why super traders can become super traders is that their vision must be extremely sharp. He has the memory of future generations and can naturally know the trend of crude oil prices, but Jiang Ping can judge the future trend with his own research, this is the ability!

Qi Zheng agreed with Jiang Ping's judgment, while adding: "I also recommend that you pay attention to soybean futures. ”

"Soybean futures?" Jiang Ping and Su Fang thought thoughtfully.

"Yes, from the perspective of the domestic soybean industry, our soybean self-sufficiency rate is declining year by year, but consumption is increasing year by year, in fact, we cannot control the security of soybean supply. As the de facto controllers of the soybean industry chain, multinational corporations and capital will not fail to see this, and these multinational corporations pursue only one thing: to seek the highest profits for the owners of capital. ”

"Compared with transnational capital, the country is in a completely asymmetrical position in terms of capital and information possession. I believe that it will not be long before a war against soybeans will begin, and we will not be able to turn the tide because of our strength, but fishing in troubled waters will always leave a little vitality for the country. ”

Jiang Ping nodded and praised: "Although Xiao Qi is not studying economics, his judgment of the general trend is simply unsurpassed, I agree with your judgment, this is indeed an entry point." ”

Su Fang also slapped his hands in admiration and agreed.

The three of them reached a consensus in this regard, and the follow-up was much simpler.

Su Fang asked Qi Zheng: "Then where are you going to arrange the office of the fund?"

Qi Zheng smiled: "It depends on your preferences, I don't make it mandatory, whether it's in Los Angeles or New York, it's your workplace after all, you decide." ”

For a long time, the public misconcepted that all hedge funds operate in the same way: hedge fund traders should be sitting at a high-tech console that looks like they are about to complete a Mars expedition, busy buying and selling all day.

There are certainly people who look like this, but most of the facts are not.

The offices of the vast majority of investment firms are much quieter. A hedge fund may do nothing for days or even weeks after opening a position, just wait and see what happens;

Perhaps one afternoon on a whim, they invited a bookish professor to come to their door to sell his mystical financial theories;

Or maybe they're suddenly bored and go out and have fun selling their own mystical financial theories to investors.

In short, being a hedge fund is a very boring thing.

Jiang Ping and Su Fang discussed it for a while, and then they made a decision, "It's still in New York, where both market information and the thickness of financial talents have advantages compared to Los Angeles." ”

Qi Zheng shrugged his shoulders and said he had no opinion.

Jiang Ping smiled bitterly, "But in this way, our fund may have some trouble." A lot of big organizations on Wall Street crack down on people who leave these organizations and start their own businesses, and I turned down Lehman's offer, and they certainly don't mind giving us some trouble. ”

Qi Zheng was not afraid of hearing this, and if other institutions suppressed him, he might still find it tricky. But Lehman? They don't have a few years to live, and when the subprime mortgage crisis comes, it will be the first to fall, and there is nothing to be afraid of.

Of course, you can't say that on the surface.

"Wolves travel thousands of miles to eat meat, dogs travel thousands of miles to eat! Whether it is a wolf or a dog, you have to see the truth in the fight. Only by fighting a bloody way in the cruel competition is it worth dancing with the times. ”

In the field of hedge funds, Soros of the Quantum Fund, Simmons of the Renaissance Fund, and Dario of the Bridgewater Fund all have their own legends and kings. ”

"Hedge funds are legendary. I hope that one day, our fund will also lead the trend of the times, and you will continue to write the legend of the industry. ”

Su Fang felt that the blood in his body was boiling, and his fists were clenched for a while.

"Whatever does not kill me will make me stronger." Jiang Ping muttered to himself, then stared at Qi Zheng, and said word by word: "So, what about the name of the fund?"

Qi Zheng was stunned for a moment, "Huh?"

"Since you have high expectations for us, we can only give it our all. Jiang Ping looked into Qi Zheng's eyes and said, "I also hope that our name will resound all over the world, and I hope that this glory can be determined by you." ”

Jiang Ping looked at him with a smile, and Su Fang's eyes burned.

Qi Zheng tapped his fingers on the table, raised his head after a little thought, "I like Li Bai's "Chivalrous Journey" very much, kill one person in ten steps, and don't stay for a thousand miles." Brush off your clothes and go to hide deep with your name ......"

"It's called ...... Assassin. ”

"The bones of the dead man are fragrant, and he is not ashamed of the world. Who can write Your Excellency, the white head is too mystical. On the world financial map, even if we eventually disappear, we must leave behind the eternal legend of the Chinese. ”

......