In Professor Yan's heart, he still values Chen Qiaoshan very much.

Even though he knew that this student was already worth tens of millions, he still felt that Chen Qiaoshan should be an academic instead of a financial person.

Because so far, except for Zhang Peigang, Yang Xiaokai and a few others, China has not yet produced an economist with international academic influence in the real sense, and Chen Qiaoshan is undoubtedly extremely potential.

It's not that you're in the game, and you'll never understand the bitterness.

If we want to truly be in line with international standards, we must master the set of economic theories of the West, and to put it mildly, the current financial environment in China is like standing at the starting line and toddler, and how difficult it is to catch up.

Not to mention the financial chaos such as "fund shady" and "stock market casino theory", just talking about talent training, just a few years ago, almost all the English textbooks of domestic economics courses came from Wuhan University.

Thanks to a professor surnamed Zou, the Department of Economics of Wuhan University has almost become a piracy center for Western economic theories, which has lasted for nearly ten years, and has also indirectly cultivated a large number of new economists, which can be said to have made indelible contributions to the development of domestic economics.

What Professor Yan didn't know was that because of Chen Qiaoshan's intervention, Vice Dean Zhang had been assigned to Pengcheng, and the dispute between Zhang and Zou had been extinguished in advance.

Professor Yan felt that it was still necessary to do Chen Qiaoshan's ideological work, and there were only two masters and apprentices left in the room, so he asked Chen Qiaoshan about his movements during this time, "What have you been busy with recently, there is no one in the school, why can't you even dial the phone?"

Chen Qiaoshan didn't know what the old man was looking for himself, "I've been in Hong Kong since the National Day, and I just came back a few days ago, if you can't contact me next time, just look for Yan Xiaoqin directly." ”

He intended to teach the old man to use a computer, but he thought about it or just did it, he was in his sixties, and it was a bit difficult to learn a computer again, so it was better to find an assistant.

"Aren't you doing the Internet, what are you doing in Hong Kong?" Professor Yan is still very concerned about Chen Qiaoshan's movements.

He has learned from others that several companies under Chen Qiaoshan's name are Internet companies, which have nothing to do with finance, and the industries are concentrated in China.

"I am investing in international futures derivatives, and crude oil has fluctuated greatly recently, and I am worried that something will happen in the middle, so I can only stare at it in Hong Kong. "For Professor Yan, Chen Qiaoshan has nothing to hide, even if he explains his position clearly, he doesn't have to worry about leaking out.

Professor Yan asked, "Aren't you doing the Internet, why did you start financial investment again?"

"I am optimistic about the development of the domestic Internet in the next decade, but I will not personally participate in it, no matter which industry, in the final analysis, it is still a game of capital. ”

Facing Professor Yan, Chen Qiaoshan rarely told the truth.

"I feel like I'm better suited to be an investor than an entrepreneur, and I've stepped out of management at several companies for more than a year now, and my focus has gradually shifted to financial markets and venture capital. ”

"You mean Tsingshan Capital?" Professor Yan had apparently deliberately understood.

Nowadays, venture capital is indeed a niche, but for Professor Yan, it is nothing new, in fact, as early as more than ten years ago, venture capital funds began to appear in China.

Chen Qiaoshan said: "Yes. ”

"Then where do you get your money?" Professor Yan is not an outsider, he knows that most venture capital funds have overseas backgrounds, and they can never be done on their own.

"I have made some money in the capital market, the first phase of the capital is enough, as for the follow-up investment, mainly financial investment, if Tsingshan Capital has made certain achievements, it is relatively easy to raise funds, it should not be difficult to persevere. ”

Professor Yan could see that this student had a long-term view of career planning, and he was a little disappointed, if he used all his talents in this area, where would there be room for academics.

Seeing that the old man was silent, Chen Qiaoshan could probably guess his thoughts, so he said, "Professor Yan, I have another thing here." ”

"If you have something, just say it, who can stop you?" Hearing it, Professor Yan's tone was very uncomfortable.

It's rare to meet a good seedling, but I didn't put my mind on the right path, but there is no way to force others, and the old man is also depressed.

Chen Qiaoshan smiled, "Professor Yan, I haven't stopped in Hong Kong these days, and I am also sorting out some materials in my spare time, but I have found some problems. ”

"Oh?" Professor Yan's face was a little pale, and after chatting for a long time, he finally heard some good news, "Tell me what you have discovered." ”

Seeing the old man's face change repeatedly, Chen Qiaoshan was also a little crying and laughing, as the saying goes, old children, that's almost it.

After all, he is an elder, and he did not say anything, and then explained: "The financial environment at home and abroad is very different, there are many financial innovations in the West, I am more interested in these, credit default swaps (CDS) are one of them, and currency swaps, this time in Hong Kong, I have more free time, I have collected some information on this." ”

If it were a few years later, CDS would have been famous all over the world, because it was this financial derivative instrument that detonated the subprime mortgage crisis in the United States in 08.

But today, CDS is indeed a financial innovation, but currency swaps are clearly not in this category.

Although it has been more than ten years since its birth, until the beginning of this century, the trade was still limited to a few countries in Europe and the United States, and it may have to wait for more than ten years to be introduced into China.

Chen Qiaoshan knows that not all innovations are beneficial, especially financial innovations, but in these years, I am afraid that not many people will agree with his views.

CDS can hedge the risk of default, which is equivalent to credit insurance, and in just a few years, it has become the world's second largest credit derivative and the most important credit mitigation tool for over-the-counter transactions.

But risks are everywhere, and financial instruments are only means, and they can't hide the truth after all.

It was from this point that Chen Qiaoshan finally sorted out some of the early context of the Greek debt crisis.

After retiring from the position of dean of the scholastic, Professor Yan took a course on financial derivatives, because he was only a face undergraduate, and he did not involve many types, that is, some basic financial products, and he did not do empirical financial research, so his knowledge of this was limited.

Chen Qiaoshan briefly explained the basic concepts, but Professor Yan listened to it, thought about it for a while, and then asked, "What did you find?"

Chen Qiaoshan pondered and said, "Professor Yan, I suspect that Greece is hiding the government's fiscal deficit. ”

Professor Yan was a little hesitant, but anyone who has studied finance knows that fiscal deficits and bond issuance will not cause inflation, otherwise the United States would have gone bankrupt long ago.

He couldn't figure out that even in order to maintain the country's credibility, the Greek government should have a better way.

After a moment's hesitation, Professor Yan asked again, "How can you study these things?"

Chen Qiaoshan is waiting for this sentence, and it is not surprising that it will not be long before Western scholars will uncover the truth about Greece's fiscal deficit.

To put it bluntly, the truth is pierced through a layer of window paper, and it is worthless, but there are thousands of clues, and the loopholes are not so easy to find.

Chen Qiaoshan had already pierced a lot of window paper, so he naturally didn't mind adding another one, "Professor Yan, the fraud in Greece happened three years ago. ”

"Oh?" Professor Yan was also stunned, he understood what that meant.

According to the EU treaty, member states must control the fiscal deficit within 3%, 01 just before the legalization of the euro full circulation, the euro from the first day of its birth, facing the pressure of depreciation, Greece at this time there is debt fraud, the purpose should not be so simple.

If this incident breaks out, it will definitely be a scandal, and its influence on European finance may not be weaker than that of Lou Zi, who stabbed Southern Securities in China.

Professor Yan glanced deeply at the student in front of him, and the worry in his eyes deepened, Chen Qiaoshan was undoubtedly a good seedling, but his thoughts were a little mixed.

The old man sighed secretly, and finally made up his mind, regardless of the truth of the matter, as long as Chen Qiaoshan still has the heart to learn, he will not give up hope.

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