Hong Kong. January 1983.

The weather was a bit damp and cold.

Zhang Shaojie was in a "leisurely residence" restaurant and made an appointment with his friend Tong Xiaobao. The reason why I made an appointment with him was that I didn't go to the Three Treasures Hall for nothing, and I asked him for help if I had something.

The matter that Tong Xiaobao asked for help was related to the exchange of Hong Kong dollars.

In the market, because of the untrusted nature of the Hong Kong dollar, many merchants refuse to accept the Hong Kong dollar and only accept the US dollar. In order to buy daily necessities, many citizens have to look for channels to exchange foreign exchange such as US dollars, yuan, and pounds.

The business of exchanging foreign exchange in major banks is very hot. Every day, there are millions of citizens who queue up to withdraw money, as well as exchange foreign currency.

However, banks have either increased their fees or limited the amount of money that can be exchanged.

Therefore, the official Hong Kong dollar to US dollar is 7.5:1! However, in fact, in the black market, the business of exchanging 20 Hong Kong dollars to 1 US dollar is also very popular.

According to the Hong Kong dollar linked exchange rate system to be established in 83 - the ratio of 7.8 Hong Kong dollars to 1 US dollar. At this time, in the black market, exchanging Hong Kong dollars at an exchange rate of 20:1 is actually a very profitable business!

"Shaojie, you want me to help you exchange dollars for Hong Kong dollars in the black market?" Tong Xiaobao was surprised.

Now in Chai Wan, after Tong Xiaobao betrayed Hehetu, he set up his own "Yiqitang" gang, which has more than 5,000 brothers. has already operated the underworld territory in Chai Wan like an iron barrel.

Because Tong Xiaobao followed Zhang Shaojie's advice, "Yiqitang" is not involved in the drug business, and is not even very keen on the operation of casinos, mahjong parlors, Fenglou, and nightclubs.

Under the banner of "Yiqitang", some real estate agencies, trading companies, department stores, taxi companies and other legitimate businesses have been established.

After a period of tidying up, most of the gangs in Yiqitang have left the underworld business and become ordinary white-collar and blue-collar workers.

The rest of the underworld business, in addition to maintaining a small number of nightclub and casino businesses. More are running martial arts gyms and gyms. In martial arts gyms, gyms, martial arts gyms and gyms, it is not about making money, but about maintaining the combat effectiveness of the backbone thugs. However, the master of the martial arts hall is more to instill the concepts of martial virtues, morality, and chivalry into the underworld thugs. This also made Yiqitang gradually break away from the low-level underworld concept, but became a very unique new gangster.

Zhang Shaojie knew that the black market was very interesting to exchange Hong Kong dollars, but he did not have enough channels to exchange Hong Kong dollars. Therefore, with the help of Tong Xiaobao's underworld forces, the black market foreign exchange business was carried out. Buying Hong Kong dollars at black market prices in foreign exchange such as US dollars and Chinese dollars is an opportunity to make a lot of money.

"50 million US dollars, can you convert it all into Hong Kong dollars within a month? I'll give you a 16:1 exchange rate. If you earn more, it's your share! Zhang Shaojie said.

"No problem, though, $50 million can't be handed to me all at once. I can send 1.5 million dollars of foreign exchange a day, and then I organize the brothers to exchange it on the black market. 16:1 You're at a loss, 18:1. That's already been able to make me a lot of money! Tong Xiaobao said.

Zhang Shaojie saw him insisting, so he said, "Okay." I'll have someone bring money over in the afternoon! ”

—————————————— 50 million US dollars can be exchanged for less than 400 million Hong Kong dollars according to the bank's exchange rate at this time. If the exchange rate of the black market is followed, it can be exchanged for more than 1 billion Hong Kong dollars.

At a time when people are in a state of panic, from the rich to the common people. They are keen to sell hard currencies such as the Hong Kong dollar against the US dollar.

The rich still have the convenient VIP services provided by the bank.

Ordinary citizens who want to convert less than 1,000 Hong Kong dollars into foreign exchange have to go through the bank queue. As for wanting to exchange more than 1,000 Hong Kong dollars at a time, you will basically be turned away by the bank.

However, many shopping malls now even refuse to shop in Hong Kong dollars. In order to meet their daily needs, some citizens can only go to the black market to exchange some hard currencies such as US dollars, Chinese dollars, British pounds, and gold at high prices for daily expenses.

Zhang Shaojie cooperated with Tong Xiaobao to open a service of exchanging US dollars for Hong Kong dollars in the black market.

The $1.5 million on the first day was quickly converted into more than $30 million. In addition to the 3 million as a hardship fee, the remaining 27 million was deposited into the HSBC account by Zhang Shaojie.

The reason for HSBC's existence is also because HSBC's status in Hong Kong is almost quasi-central bank. If HSBC collapses, the Hong Kong dollar will certainly depreciate as waste.

"Shaojie, thank you very much for giving me this opportunity to make a fortune!" When Tong Xiaobao received 3 million Hong Kong dollars a day, he couldn't help but say with emotion.

Zhang Shaojie smiled and said: "What's polite, we are brothers!" ”

"You admit that I am a brother, Tong Xiaobao's life is worth it!" Tong Xiaobao had surprise written on his face.

After exchanging a deposit of 900 million Hong Kong dollars, Zhang Shaojie began to contact Sun Hung Kai Securities, and this huge amount of cash, he was ready to invest in the securities market. However, due to the large amount of money, it is not suitable to use the original fund account of ordinary users. Zhang Shaojie needs to become a big client of Sun Hung Kai Securities. When necessary, Sun Hung Kai Securities' traders can be mobilized to assist him in his work.

Zhang Shaojie contacted Feng Jingxi of Sun Hung Kai Securities Company by phone through HSBC.

This is the "living dictionary" of the Hong Kong securities industry, and Feng Jingxi's predecessors did not dare to slack off, and personally entertained Zhang Shaojie at the headquarters of Sun Hung Kai Securities Company.

—————————— "I hope to develop a strategic partnership with Sun Hung Kai Securities at a higher level. And not simply as your ordinary customer! Zhang Shaojie emphasized, "Hong Kong's financial industry, in this era, is actually just emerging. Compared with the real estate industry, which has become the backbone of the economy. The financial industry has more room for growth. Therefore, if Sun Hung Kai Securities Company persists, the future is limitless."

Feng Jingxi nodded and said, "I am also convinced of this. Any bear market is actually a time for the financial industry to reshuffle. Eliminate some poor quality and poorly managed financial companies. At the same time, it is also an opportunity for some excellent companies to expand cheaply! If, Mr. Zhang, you want to take a stake in Sun Hung Kai Securities, then I basically agree, but I only welcome strategic investors, not sell the company to you! ”

"I will not compete with you for a controlling stake, but I am optimistic about the future development of Hong Kong's securities industry, and I hope to participate in Sun Hung Kai and earn some investment income!" Zhang Shaojie said with a smile.

"Really?" Feng Jingxi said indifferently.

Zhang Shaojie smiled and said, "Mr. Feng Jingxi, do you know Warren. Warren Buffett? ”

Feng Jingxi nodded and said: "American investors are famous for value investing. Now he has a net worth of $600 million. It's close to the strength of the 500th richest person in the world on the Forbes list! ”

"Warren Buffett's investment model, I'm very interested. In the 70s, Warren Buffett founded an insurance company. Invest in the stock market with the funds of insurance customers. Warren Buffett, who has a lot of insurance funds in hand, always likes to help excellent companies tide over difficulties when good companies are in trouble. Because he has improved the operating conditions of listed companies, the stocks in his hands are basically excellent enterprises. How do you rate Warren Buffett's philosophy? Zhang Shaojian suddenly asked.

Zhang Shaojie's remarks are undoubtedly self-comparison with Buffett. Investing in Sun Hung Kai Securities in this matter is regarded as a send-off in the snow!

Feng Jingxi said disdainfully: "Hong Kong real estate developers have always followed this model. For example, in the past, companies such as Sun Hung Kai Properties and Cheung Kong Asset. Every time the price of land falls sharply, a large amount of money is invested in the real estate industry. When the real estate industry is booming, the developed real estate will gradually be sold at a high price, buy low and sell high, and pick up cheap! ”

"Good!" Zhang Shaojie applauded and said with a smile. "Indeed it is! Now, it is clearly the trough stage of Hong Kong's economic development cycle, at the bottom of the valley. Some excellent companies are also undervalued. Although I also invest in Sun Hung Kai, my investment will also promote the development of Sun Hung Kai! First, I want HK$500 million to take a 25% stake in Sun Hung Kai Securities. Second, with the 500 million yuan of equity funds, I hope to establish an insurance company to absorb social funds from insurance companies and strengthen the development of Sun Hung Kai Company. Third, in the future, my personal financial management project will be entrusted to Sun Hung Kai Securities Company"

The scale of Sun Hung Kai Securities is not too large. Although it has assets of more than 1.5 billion, its liabilities have reached 1 billion. In other words, Sun Hung Kai Securities' net worth is only 500 million.

In a bull market, users of securities companies actively invest in stocks, and Sun Hung Kai Securities is naturally able to earn a large amount of commissions. These commissions, after paying the bank interest, also generate a large surplus.

However, it is time for a bear market. Due to the cold transaction, Sun Hung Kai Securities' fee income began to be insufficient to cover the cost of operation and the interest on the debt!

Of course, these difficulties are also temporary. Once the bull market has been reached, the stock trading volume has increased significantly. Sun Hung Kai Securities will inevitably be able to make a lot of fee income in the next round of bull market.

"Welcome Mr. Cheung to Sun Hung Kai Shareholder!"

Feng Jingxi carefully estimated that Zhang Shaojie's investment has advantages and disadvantages for Sun Hung Kai Securities. For Feng Jingxi himself, it is just the loss of control of part of the company.

However, as a modern financier, Feng Jingxi also knows that the pursuit of absolute control is not very important. As long as you are profitable and have relative control over the company, it is enough!

(To be continued)