Zhou Shi came to the Shenzhen market, it was already March, and AIG announced the loss information as scheduled, with a huge loss of 62 billion US dollars, which once again hit the entire market a huge blow. The Dow Jones Industrial Average closed at its lowest level since April 1997, and the market value of companies included in the Dow Jones index has lost more than half in just one and a half years. As a result, almost all stock markets around the world fell, with the Nikkei Stock Average falling to 7,117.66 points in early trading on March 2, the lowest point since the collapse of the bubble economy.

Zhou Shi instructed the Four Elephants Fund to invest 500 million Hong Kong dollars to buy bullish futures and turbines of the Hang Seng Index, and there were too many systems in the market, which made him a little overwhelmed. It's a pity that one person can't eat the entire market, and the trade-offs are very important to him. Just like AIA, after Warren Buffett's success, everyone knows that insurance is a good thing, and if you operate steadily, you can get a steady stream of cash flow. If Galaxy Capital has such a company, it will be of great help to its future development. But the price of tens of billions of dollars, which is beyond his means, is difficult to raise so much money even if it is a loan, unless he exposes most of the industry to banks and other institutions. If it is just a financial investment, it is not very significant, and it is likely to increase by more than ten percent every year.

Although they didn't think it was interesting, Lu He and they still participated in this investment and are raising funds to acquire part of the equity of AIA from AIG. But the first thing they need to do is to push AIA to become an independent legal entity. Among them, the most important person is AIG's Senior Vice Chairman and Board Member, AIA's Chairman and Chief Executive Officer, Xie Shirong. The 71-year-old has been with AIA for 48 years, during which time AIA's assets in the Asia-Pacific region have grown from US$25 million in the 60s to US$60 billion today. AIA's network covers markets in 13 countries and territories, with 250,000 representatives and 20,000 employees, serving more than 20 million customers. In 2003, Xie Shi was elected as a member of the "Global Insurance Hall of Fame", the highest honor in the global insurance industry, and was the first Chinese to receive this honor. Xie Shirong's role in this and his ability are unquestionable. Galaxy Capital wants to take a stake in AIA, and without his support, I am afraid it will be half the effort.

Zhou Shi thought that it would be beneficial if he could take a stake in AIA, and if the Sixiang Fund, which had no insurance experience, could form a branch with AIA Huaxia, it would have a very huge effect on the Sixiang Fund. AIA Huaxia currently has a total of 5 branches in China, which are located in Shanghai, Beijing, Guangzhou, Shenzhen and Jiangsu. These five branches work independently, and the financial statements of each branch are reported to AIA separately for each year. According to the relevant laws and regulations of the state, an overseas life insurance company must adopt the form of a joint venture to set up a business establishment in China, and the foreign party's shareholding ratio shall not exceed 50%, and the wholly foreign-owned life insurance branch shall be a joint venture when opening a branch again. However, according to the statistics of the China Insurance Regulatory Commission, even if there are only five branches, AIA's premium income in 2007 was 8.9 billion yuan, and China's market share was 1.8%. In 2008, due to the influence of AIG, its market share fell to 1.03%. It is also the boss of foreign insurance. At the beginning of '09, if AIA continues to be in turmoil, the likelihood of problems with management and employees increases significantly.

Before he came, he was in a hurry to meet and communicate with Feng Xing and others in Guohu, and Zhou Shi flew directly to Xiangjiang. After half a month of communication, he finally made an appointment with a very important person, Hu Zuniu, managing director of Goldman Sachs Huaxia.

"Hello Mr. Hu, it is a great honor to meet you. Zhou Shi didn't mean the slightest compliment when he said this. As one of the first batch of college students after the reform and opening up, Hu Zuniu was able to become the chief economist of Davos at the age of 33, and then worked as a managing director and chairman of Greater China at Goldman Sachs for 13 years, becoming a partner of Goldman Sachs, and his ability can be said to be impeccable. After Zhou Shi learned that he could acquire a domestic securities company, he had this idea and invited Hu Zuniu to join the Sixiang Fund and take charge of Modu Securities.

"I am also very honored that Mr. Zhou's success makes me believe that miracles happen in this world. Hu Zuniu said mildly that he was rated by the media as the most handsome and gentlemanly economist in China.

"Actually, I came to Mr. Hu, I was really a little apprehensive, Mr. Hu's achievements over the years are really admirable, and Goldman Sachs' resources are not comparable to us. "Zhou Shi

"Mr. Zhou, don't be presumptuous, I am envious of many actions of Galaxy Capital at home and abroad, and I am amazed by the successful acquisition of Lehman. Compared with Mr. Lu, my achievements in China are really a little far behind. "Hu Zuniu

"Since Mr. Hu also recognizes our cause, then I will say it directly. The purpose of inviting Mr. Hu this time is to make you the chairman and general manager of Modu Securities, which we are about to acquire, and the general manager of Sixiang Fund. "Zhou Shi

"Modu Securities, you have acquired Modu Securities, why is there no movement at all?" Hu Zuniu asked in surprise, he is the general manager of Goldman Sachs Huaxia and has a wide range of connections. Although Modu Securities is not one of the top 10 companies in China, it is also among the top 30 in China. Such a large company was quietly acquired.

"There has been no formal agreement yet, but we are all pushing, the price has been almost negotiated, and the approval of the pot committee is also trying to find a way. "Zhou Shi

"Oh, that's right, but I'm afraid I want to thank you for your kindness, I did a good job at Goldman Sachs, and I didn't think about leaving. "Hu Zuniu

"I heard your mentor Lawrence Summers say that you've done your best at Goldman Sachs, but you don't want to try a bigger challenge if you have very little hope of going further?" said Mr. Zhou, who was Clinton secretary of the Treasury and became chairman of the White House National Economic Council. He is also Hu Zuniu's supervisor for doctoral studies at Harvard.

"Is there a greater challenge in Huaxia than Goldman Sachs? Modu Securities doesn't seem to be enough," Hu Zuniu did not let Zhou Shi's words affect his judgment.

"Sixiang Fund has assets close to 100 billion soft sister coins and Modu Securities also has 10 billion soft sister coins. "The assets of the Sixiang Fund are difficult to calculate, and if you add the equity of the time shell friends and the like, there are really hundreds of billions of soft girl coins. "This is not the main thing, my idea is to let Modu Securities acquire Tianhe Securities after the development of the Modu regime, so that a Huaxia investment bank can become a world-renowned securities company. "Zhou Shi

Modu Securities' acquisition of Tianhe Securities, that is, Modu Securities' acquisition of part of Lehman's Eurasia business, is really a big challenge.

(End of chapter)