In May in the imperial capital, the weather has begun to get hotter, and the poplar trees on the roadside have all turned green before you know it.

Standing on the top floor of Guanghui Building, overlooking the scene of Zhongguancun through the glass window, it gives people a vigorous and upward momentum.

When Jiang Hui was busy in the island country for a month, and basically handled the matter of the acquisition of Sanyo by the Guanghui Group, he finally returned to the Guanghui Building again.

At this time, the financial crisis caused by the subprime mortgage crisis in the United States began to show signs of improvement, and many people began to breathe a sigh of relief.

On April 30, 2008, the Fed cut interest rates by 25 basis points and removed the phrase "economic growth remains at risk" from its post-meeting statement. U.S. GDP grew by 0.6% in the first quarter, but Credit Suisse believes that it is mainly based on the increase in inventories, which is not good for future development. The UK's HBOS (Halifax Bank of Scotland, the UK's largest financial, insurance and mortgage bank) issued an additional £4 billion in equity to increase its capital and weather deteriorating market conditions.

On 1 May 2008, the Bank of England stated in its Financial Stability Report that the loss of subprime mortgages could be as low as $170 billion, and the major banks agreed to retain the minimum amount of assets in their special liquidity schemes.

The Federal Deposit Insurance Corporation of the United States believes that the market is about to pass the credit crunch; Federal Reserve Chairman Ben Bernanke believes that the problems of the student loan market in the United States are no longer limited to liquidity problems; the US House of Representatives has approved a $300 billion housing market assistance package; and US Treasury Secretary Paulson believes that the credit crisis is halfway over.

On May 2, 2008, the number of non-farm payrolls in the United States fell by only 20,000 in April, and the unemployment rate fell to 5.0%, which was better than expected. However, IMF Chairman John Kahn feared that the good news of the US jobs report for April would be short-lived, and that the economy would not recover in 2008.

The Fed expanded the size of the TAF from $50 billion to $75 billion, while expanding the amount of currency swaps with the European Central Bank and the Swiss National Bank. The White House said the U.S. economy has so far shown no signs of recession.

……

Jiang Hui drank the latest West Lake Longjing this year, while looking at the various materials compiled by Liao Yun.

"Mr. Jiang, in the past week, the financial market seems to have stabilized, should we control the rhythm a little? If the subprime mortgage crisis really eases up, if we still increase our leverage to short, it is likely to eat up most of the profits we have obtained before. ”

Like most people, Guan Weidong was obviously confused by the appearance of the international economic and financial market during this time.

"Steward, although many organizations are now preaching that the most dangerous moment has passed, in my opinion, what happened in the past is just an appetizer, and the good show is still to come. ”

As a reborn, Jiang Hui knows best when the financial crisis will pass.

The whole of 2008 was arguably the most chaotic time in financial markets in recent decades, and certainly the time when there were the most opportunities.

Not to mention General Motors and Lehman Brothers, which will go bankrupt in the future, even the famous Citibank, which also set a record - the stock price fell below $1 per share.

At that time, when it fell to $36, a certain bigwig said that he could buy the bottom;

When it fell to 18 yuan, a certain big guy said that he was ready to buy it;

At that time, when it fell to 8 yuan, a certain bigwig happily said that he bought it so cheaply;

When it fell to 3 yuan, a certain big guy cried;

When it fell to 0.97 yuan, a certain big guy died.

This is a joke that everyone ridiculed Citibank at that time, and it vividly illustrates Citibank's performance in 2008.

This multinational bank, which has operations in more than 100 countries around the world, was once the world's largest bank by assets, with a market capitalization of about $270 billion at the beginning of 2007, and only a few billion dollars left when its stock price was at its lowest in 2008.

Citi's disaster line was buried in 1998, after Citigroup completed its merger with Travelers, began to lobby and successfully persuaded Congress to repeal the Great Depression Geshi Law, so that commercial banks could also get back into the investment banking business, and then Citigroup took this business to the extreme, dabbling in high-risk loans and bonds, and finally caused the current disaster.

Of course, although Citi's stock price was only a few billion dollars at its lowest point, and the Korn Ferry Group was completely acquired by funds, the U.S. government obviously would not sell such an influential bank to the Celestial Empire.

The Guanghui Group can only eat porridge, drink soup in this feast, and buy a few points of Citigroup shares through the open market.

However, before that, there was no problem in shorting Citibank's shares in the financial markets, and it was no problem for Korn Ferry to gnaw billions of dollars in profits from the elephant of Citi.

"Mr. Jiang, although some experts say that the crisis has not passed, but now that various funds and financial institutions have slowed down their investment, we may not be completely relaxed, but it should be safer to appropriately reduce the leverage ratio, right?" Guan Weidong put forward a suggestion that seemed more reliable.

"In the face of this once-in-a-lifetime opportunity, any insurance measures are a waste of time, whether the Korn Ferry Group can truly stand at the top of the world for a long time, the most critical thing depends on this year's performance. Mr. Guan, believe me, the subprime mortgage crisis is far from over, and those so-called experts and scholars are too optimistic. This will be a crisis with a repercussion comparable to that of the 1929 world financial crisis, and more exciting things are yet to come. Jiang Hui decisively rejected Guan Weidong's proposal.

It's not that Guan Weidong's proposal is unreasonable, it's just that Jiang Hui, who has a golden finger, is almost 100% sure that the crisis is just the beginning, and when others start to stop, it is the moment when the Guanghui Group is moving forward, why stop?

Western countries have plundered the Celestial Empire for more than 100 years through various means, and it is time to collect some interest and come back.

"Mr. Jiang, if this is the case, then I suggest that the group put as many loans as possible in the account to prevent cash flow breakage. After all, once all the funds of the financial department of Korn Ferry Investment enter the market with leverage, it will be much more difficult to realize it in a short period of time. ”

Realizing that Jiang Hui had made up his mind, Guan Weidong did not insist on his position, but began to consider the problem from a new perspective, which is also one of the reasons why Jiang Hui admires Guan Weidong more.

As a subordinate, it is very necessary to give advice to the leader in a timely manner when you are aware of the risks, but once the leader has made a decision, at this time, it is not much point to continue to insist on your own opinions.

On the contrary, it is the most correct choice to quickly adapt to the new situation and start thinking about problems from a new scene. ()

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