"James, I'd like to talk to you. ”

Unable to get useful information from Wang Feng, Chen Qiaoshan simply went directly to the boss's office.

He had a lot of dealings with foreigners in his previous life, and no one was necessarily smarter than anyone else, even in the most turbulent Democratic Republic of the Congo, and the domestic businessmen who bought blood sandalwood were deceived by the local blacks and lost their money.

Of course, foreigners also have an advantage, as long as they don't involve vital interests, they will rarely go around the bend with you.

"Chen, what's wrong?" James glanced up at Chen Qiaoshan and put down what he was doing.

Chen Qiaoshan took out the Goldman Sachs account opening application and said, "Boss, I am already completely familiar with this booklet, what else can I help?"

He didn't mention the assessment, and of course, James should be able to understand what he meant.

There was a hint of surprise on the white VB's face, but he quickly hid it, "Chen, sit down and say, I think we do need to talk." ”

Chen Qiaoshan was not pretentious, and sat down across from James' desk just like the interview.

"Are you sure you're fully familiar with the terms of the application?" James asked, as if to make sure.

"It shouldn't be a big deal. "Chen Qiaoshan has a lot of reservations, the application for opening an account in a foreign bank is very cumbersome, or strange, and the domestic commercial banks are too troublesome to use two pieces of paper, and the terms here can be bound into a book, and the rules and regulations are enough to dazzle.

Of course, in Chen Qiaoshan's view, many clauses are purely taking off his pants and farting, but foreigners admit this, and he can't say anything.

James didn't seem to notice his answer, and when Chen Qiaoshan sat down, he said, "You have been in our team for three days, let me ask, what is your understanding of PM?"

"Help the rich invest and manage their finances. Chen Qiaoshan replied very simply, private wealth management sounds lofty, but in fact, it is like that.

It is often said that money is king in Western societies, and it is true, but in both the East and the West, the top of the food chain is always a small part.

Whether it is a private bank or a PM, customers should be categorized.

The lowest level is just to meet the requirements for opening an account, similar to the basic account, this kind of customer basically has no profit, which is why many private banks do everything possible not to open a basic account for you, if it is a VIP account, it is a different experience.

The most popular is of course high-net-worth customers, which are divided into two types: high-net-worth and ultra-high-net-worth customers, and further subdivided into newly rich and family inherited wealth.

Although Europe and the United States boast all living beings are equal, when it comes to vital interests, that is another matter.

If it is a high-net-worth client, it will definitely be one-on-one service all year round, 24 hours online, and return visits from time to time.

As for ultra-high-net-worth clients, they are basically equivalent to private butlers.

From your children's school to medical treatment, as long as you encounter problems, you can find them, and they will definitely help you do it properly, so that there is a saying that a private wealth advisor knows you better than your daughter-in-law, because he knows where you put every penny, which ordinary commercial banks cannot provide, and of course, the entry threshold is also quite high.

James didn't react, and he couldn't see any satisfaction or dissatisfaction with Chen Qiaoshan's answer, and he continued to ask: "I have nine coins, the shape is exactly the same, but the quality of one of them is different, you can use two hands, how many times can you find that coin?"

Chen Qiaoshan was stunned for a while, this is also an intelligence test, he has heard before that the interview of a foreign company will test IQ, and all kinds of garbled questions may be encountered, but this is the first time he has encountered it.

"Three times. ”

This kind of pediatric problem naturally couldn't be difficult for Chen Qiaoshan, but James didn't stop there, he asked again: "It's still these nine coins, I only used two chances to pick out the special one, do you know why?"

"It's simple, just know if the special one is light or heavy. ”

Chen Qiaoshan replied angrily, if he couldn't answer this question, the intelligence test he took on the Internet back then would really be in vain.

"Good, Chen, you're the smartest person I've ever met. James finally had a smile on his face, but for his praise, Chen Qiaoshan just listened to it, who can enter Goldman Sachs, which one is not killed from thousands of troops, to say that IQ crushing, this is basically impossible.

"James, you don't just want to test my IQ, do you?" Chen Qiaoshan replied with a smile, working in an investment bank, in fact, there are not such high requirements, as long as the IQ is online.

Working in an investment bank, it sounds like a banker, but in fact, it is a financial migrant worker, and it is not about who can make constructive discoveries, but about the work of research institutions, depending on who can not make mistakes and can persist in not making mistakes all year round.

It is true that the salary of investment banks is very high, but if you calculate the average working hours of 80 or 90 hours per week, the hourly wage of Goldman Sachs is not necessarily much higher than that of brushing dishes at the Golden Arches.

James smiled, "You know, the salary in the Asian headquarters is not expensive, at least much higher than that of Yanjing, if you are given a job with an annual salary of 60,000 US dollars, there are two ways to pay, one is to give you a lump sum, and the other is to get a monthly salary, 5,000 US dollars a month, which one will you choose, why?"

Chen Qiaoshan was stumped this time, for any normal person, he would definitely choose to settle it once, and at least he could eat interest in the bank, but in this case, this answer would definitely not satisfy James.

"Look at the interest rate. Chen Qiaoshan pondered in his mind for a while, and he continued: "If the real interest rate is positive, I will definitely take it all at once, of course, I also have to consider the opportunity cost, if I encounter a good investment opportunity, even if the interest rate is negative, I will choose to settle it all at once." ”

"And what is the real interest rate?" said James, who was in hot pursuit.

Although Chen Qiaoshan often skips classes, he still has this common sense in economics, "The savings interest rate after deducting inflation is the real interest rate." ”

He did not stop there, and continued: "The real interest rate is one of the criteria for judging the credibility of a country, and the higher the real interest rate of which country, there will be a net inflow of capital, and the most common example is that the exchange rate of the US dollar is basically adjusted closely to the real interest rate. ”

Not satisfied, James went on to ask, "What is the deposit rate in Hong Kong, and what was the inflation rate last quarter?"

Chen Qiaoshan was really asked this time, where Hong Kong is a big fart, how can he be in the mood to pay attention to these situations, the data must not be nonsense, he had to say: "I'm sorry, I don't know the specific data." ”

"Honestly, Chen, you really surprised me. James finally softened his tone, but in an instant, he asked again: "I'd love to hear what kind of projects you just said about good investment opportunities?"

"For example, stocks, bonds, or funds are basically normal wealth management. "Chen Qiaoshan didn't expect to know about PM's VB stock speculation, it was purely uncomfortable.

James obviously didn't let him go, "But as far as I know, investment is risky, and there is no product in the world that can not be profitable." ”

Chen Qiaoshan was stunned for a moment, but in an instant, he understood James's intention, this was a trap, "As far as I know, not all investments are risky. ”

James didn't seem to understand what he meant, "Chen, do you have any ideas?"

"James, according to the Beyond Markowitz theory, there are three levels of risk, which are guaranteed risk, market risk and achievement risk. ”

"According to our PM's investment principles, protection risk is the highest priority investment and should be appropriately allocated even for private banking clients. ”

"Even the richest man in the world, like Bill Gates, will buy some insurance in order to deal with the risk of not being able to guarantee the most basic standard of living, right?"

Of all investments, insurance should be the safest investment, and of course, this insurance is different from non-investment targets.

In addition to maintaining and increasing value, the insurance products provided by private banks are more of a long-term safe risk transfer and asset preservation tool.

Of course, the lower the risk, the lower the return, but for all financial management, a risk assessment is generally done.

Low-risk investment ensures the quality of life, the middle level is to maintain the level of wealth and social status, and the high risk is to break the bottleneck of wealth, but some people who sell insurance and promote financial derivatives will always say high returns, as for the risk, it is natural not to mention.

James really had nothing to say this time, and Chen Qiaoshan's performance completely exceeded his expectations, "Chen, I'm curious, are you really just a freshman student?"

Chen Qiaoshan said with a smile: "You don't have to doubt this, the king can prove it to me." ”

"You performed perfectly, and to be honest, I was amazed, you were the most talented intern I've ever met. James is not stingy with praise, he is indeed surprised, none of the above questions are simple, even if you find a senior analyst to answer, you may not be able to have this level.

Chen Qiaoshan is also very happy in his heart, no matter what, he can get the attention of a VB, which is what many interns dream of, even if they can't get the opportunity to be pushed internally, they can add a few more points during the assessment.

"James, I've passed the test, right?"

James's face was a little strange, "Chen, you should know, you don't have to worry about your future returnoffer, you don't have to be too obsessed with work." ”

Chen Qiaoshan's heart was full of doubts, he didn't think about taking the opportunity to rehire at all, besides, it was still early before graduation, so there was no need to be in such a hurry to find a job, "James, what does this mean?"

James thought about it for a while, and Zhengse said: "Chen, you didn't enter Goldman Sachs through a hiring manager, and you didn't have formal training, so according to convention, you can't give you the task." ”

Chen Qiaoshan was blinded, recruited him, and didn't arrange a job for him, what kind of truth is this, "James, can I know why?"

"You don't know?" James also looked suspicious, and paused, before he said, "Resource channel employees, you should know, right?"

Chen Qiaoshan was completely blindsided, the so-called resource channel employees and JP Morgan's children's plan are essentially the same thing, to put it bluntly, they are related households, think about it carefully, he can't help but be happy, if this matter can't be explained clearly, Goldman Sachs will have a lot of fun.