"Jack, Jack, when did I lie?CMTI1998-011 is certainly a good investment, I still have 1.5 million on hand now, of course, it is the middle layer, there are 4-9 layers, if you want, I can give you a 5% discount on the handling fee。。。。。。。 Yes, the middle layer, that's right. ”

"It's risky? Haha, what's the joke? Even though it's in the middle tier, S&P Ratings still has an A, when do you see an A-rated product so cheap? haha, eight percent? No, No, No, up to 5.5 percent。。。。。。。 OK, OK, six percent, deal!" Broadbosey silently waved his arm that wasn't holding up the phone, and his spirits lifted.

On Wall Street, Broadbosey is one of the thousands of salesmen, dressed in crisp suits and shiny shoes, hurrying in and out of Manhattan every day with briefcases.

They may seem glamorous, but they know better than anyone that if they don't have performance, they may not even be as good as the girls of Forty-second Street.

At least Ji Nu doesn't have to worry about losing her job.

Broadbusey is a salesperson at Helios Capital Management, and until this month, his life was barely fed.

As a salesman, he has no base salary, and the weekly settlement commission is his only source of income. If there is no business for two or three weeks, I am afraid that he will have to go to Central Park at night to sleep in the same way as the homeless man on the street.

Broadbosey wasn't Helios' best salesperson, but he wasn't the worst either, his luckiest week was more than 5,000 commissions, and he calculated last year's total earnings, and the average income was $4,000 per month.

The income of $50,000 a year is nearly double the per capita disposable income of Americans last year, but this is New York! Manhattan! Wall Street!

In Manhattan, the money can barely maintain a superficial level of decency at best, and if you want to live comfortably, don't think about it.

After all, every month's rent costs half of his income.

What he is most proud of is that he has been here for three years!

Every year, countless young people with dreams come to this street, which is only 500 meters long and 11 meters wide, and every year, countless people leave here either sadly or embarrassed, maybe you entered and exited a building three months ago, and three months later, one-third of the people in the building have been updated more than once.

There should be no place in the world where there will be such an elimination rate as Wall Street.

Broadbosey was able to hold out here for three years, and he really deserves a little pride in himself.

However, this is already the limit, he has persevered very hard, in the past two or three months, his performance has not been good, he is ready to roll away from Wall Street at any time like those losers who have been ridiculed by himself before - if the product CMTI1998-011 does not appear.

A month ago, Helios represented $83 million in CMTI1998-011 from an independent company owned by Citi, which is a new product from Citi, according to Sidney Baker, a manager at Broadbosey, and is a fixed-income security that can be sold within a month for a significant commission.

As a bond salesman, Broadbusey is glad he jumped at the chance.

CMTI1998-011 is so easy to sell! Counting today's payment, it is estimated that my commission this week will be 15,000 US dollars, and the total commission income this month will definitely exceed 30,000!

One month's income is more than a month's income of my parents in Tennessee's hometown!

Wall Street, I love you so much!

"I'm in for a treat in the evening!Marquee!" Broadbosey raised his head, clutched the microphone, and shouted triumphantly to the other salesmen in the office, responding to his middle fingers and disgruntled boos.

"Hey, you chose not to sell CMTI1998-011 in the first place, you bunch of trash! Regret it!" Broadbosch shouted, but he was greeted with louder boos and more middle fingers.

"Brother, what the hell is this CMTI1998-011? is it really so easy to sell?" Oliver Forne, who was sitting next to him, poked his head over, with a look of curiosity + envy.

Broadbosey waved his hand: "There is a documentation, you haven't read it?"

Oliver Fern exaggerated: "Documentation? What is that? Oh, you said that dozens of pages? I never read a document that is more than eight hundred words." Well, I don't understand it anyway. ”

Broadbosey rolled his eyes, "I'm so sorry for your high school teacher. ”

"Don't mention that balding old fellow. Oliver Fern looked flattering, "What the hell is this product? I heard what it is? Tell me? I said a long time ago, you are the smartest among us, is it possible, you don't understand?"

"Humph!" Broadbosey knew of course that this was Oliver Fern's trick, but his vanity was still more satisfied than ever when he saw the flattering look on his face.

"Well, since you sincerely ask me for advice, I will kindly tell you that remember to invite me to dinner. Broadbosey raised his chin defiantly at Oliver Fern.

If you bow to others, you must have everything, and vice versa, when Oliver Buddha asks for help, he has always been stingy and groveling.

Let's put it this way, let's say that there are two one-year bonds, bond A is worth $100 and the interest income is $8, and bond B is worth $200 and the interest is $22, and Citi buys the two bonds for $300, and then mixes the expected return of the two bonds, and sells the principal part of $300 into one dollar, and after a year, the buyer will get the entire principal amount of $300, that is, the annual return is about 6%, which is slightly higher than the fixed deposit. Of course, there is basically no risk in the principal part, and a lower yield will still be purchased by a large number of institutions as long as it is higher than the bank deposit interest rate. ”

"At this time, the wonderful thing is coming. Broad's eyebrows fluttered, "There is still 30 yuan of interest left, Citi makes another dollar to sell, 30-, and then divides 5 by 25, that is, if the investor buys this part of the security, then the return on this part is 20%. ”

"If you do the math, Citi's total income is 308 yuan, and the cost of them to buy these two bonds is 300 yuan, one in and one out, they make eight yuan, and the yield is 2.67%, which doesn't sound high, but think about it, how much time does it take to sell these securities? Three weeks! It only takes three weeks! It sells to 011!"

"Hiss~" Oliver Fern gasped and smacked his lips, the return of 2.67% in three weeks, even if you count the average financing cost of 1.12%, there is also a return of 1.55%. And with 52 weeks in a year, these returns add up to a profit margin of 26.55%!

What is this concept!?

You must know that a three-week financing cost of 1.12% can leverage more than 10 times, that is, a $100 million CDO may only need less than $10 million in principal, but it can earn more than $26 million per year.

It's so tm profitable!

No wonder Broadbosey earns such a high commission income!

"This is just the simplest CDO model, and Citi's CMTI is certainly much more complex than that, as outlined in the documentation, which includes 3,844 loans, each with different risks. Therefore, CMTI1998-011 has a total of 13 levels, 1-4 have AAA ratings from S&P and Moody's, 5-9 have also received A ratings, and 10-13 credit ratings also have BB ratings, and the worst rating is the same as the SPTN we sold before, you think, how can it not sell well?"

Broadbosey looked sarcastic.

"!Fxck!" Oliver Fern was stunned and spat out a few dirty words in a row, but then, he had another question, "No? There are so many loans, how do they get a comprehensive rating? These loans have different maturity dates, different amounts, and different credits, and I have never heard of S&P and Moody's giving this kind of rating before?"

"Who knows. Broadbusey shrugged, "Maybe there is a new way of calculating, these are not what I care about, I only care about when Citi's next CDO will be launched, and what is the company's commission percentage." ”

"The person who designed this product is such a genius!" Oliver Fern was amazed, rolled his eyes, and whispered, "Broad, do you have any goods in your hand?" I can help you sell it... ”

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"Zack, you're such a genius!" Markwell smiled excitedly and handed Zhang Chen a glass of champagne, "Twenty billion eight billion, two weeks, two billion dollars in sales, haha, it's a pity you didn't see John Reid's face, it's like eating, hahaha." ”

"Congratulations. Zhang Chen smiled, "Your name should be seen in the next executive committee." ”

Mark Weil laughed, but he tried his best to remain reserved, becoming more and more shallow and arrogant: "It's just a false name, the benefits are all taken away by you, forty percent of the profits, I really regret that I agreed to you this condition." ”

"It's us. Zhang Chen squeezed his eyes, "It's us, isn't it?"