This is almost an impossible task, and the more impossible the task, the higher the commission, which aroused the great interest of Kong Yifu, and after a series of careful reflections, Kong Yifu completed this task that no investment bank could complete before.

His idea was to register a new company in a third country, buy all the Mexican peso bonds, and then issue corporate bonds in US dollars, so that investors could buy the company's corporate bonds in US dollars to buy Mexican peso bonds in disguise.

The hardest part of this was getting Standard & Poor's to give the company's stock a high rating. Morgan Stanley asked S&P to rate the new company's bonds AA on the basis that Mexico's peso bonds were rated AA, but S&P disagreed, arguing that Mexico's dollar bonds were extremely low because the new company's bonds were issued in U.S. dollars.

This change was already expected by Kong Yifu. He split the corporate bonds issued by the new company into two parts, one low-risk and one high-risk, and only had S&P rate the low-risk bonds, while the Bank of Mexico kept the high-risk bonds as debt repayment protection, and at the same time had the new company buy some of the highest-grade U.S. Treasuries to repay the debt, so that S&P agreed to rate the bonds issued by the new company AA.

At this point, the impossible task is already half done, and the peso-denominated reconciliation bonds have become AA-rated bonds denominated in US dollars. And the other half, how do you get the Bank of Mexico to "sell" the bonds to the new company, but not actually sell them? The clever solution to this problem depends on the unrated bonds that the Bank of Mexico has kept.

According to accounting principles. If you own a company, you can use the company's liabilities and capital as your own. And the Bank of Mexico can be considered as owning the new company by holding the unrated bonds of the new company. The assets and liabilities of the new company could then be incorporated into its own balance sheet, so that the adjustment bonds sold by the Bank of Mexico to the new company remained its own. From an accounting point of view, although the new company realizes the reconciliations, the Bank of Mexico still owns them.

This trick of corporate ownership completely solved the problem of adjusting the debt of the Bank of Mexico, and then as long as the bonds issued by the new company were sold, Morgan Stanley's earth-shattering plan was completed!

Run Run Kong has devised this brilliant plan. It originally shocked the top management of Morgan Stanley, who had actually heard of this China for a long time, but until this moment. They knew that this was an amazing financial wizard! Following Estrial Kong's approach, Morgan Stanley began to sell such securities aggressively.

Because the new company is a complex company, Morgan Stanley creates favorable terms when selling the bonds of the new company. The 20% of the unrated bonds held by the Bank of Mexico are all protected against payments. That is, if the value of the bond is depreciated by less than 20%, the Bank of Mexico will still pay the full amount.

This completely relieved investors who were worried that the peso would depreciate at the time, because they wondered how it was possible for the peso to depreciate by 20%. As a result, many large conservative investment funds have entered the Mexican market with such notes.

With the wisdom and cunning of Run Run Kong, Morgan Stanley achieved sensational success in this campaign, selling $1 billion of these notes and earning tens of millions in commissions in just a few months.

At that time, Run Run Kong became a heroic figure of Morgan Stanley, and the name of Kong in China shook Wall Street under Jewish rule.

But the jealousy of talent is also at this time.

At the end of '94, the financial crisis broke out in Mexico. The peso lost 40 percent of its value in just a few days, and the value of the kind of new corporate notes that Morgan Stanley was selling fell sharply as a result.

Investors will love you and praise you when you make money. But when you make them lose money, it's bound to get you in trouble. Several large investment funds filed lawsuits in court after the notes were reported to be in deficit, exposing Morgan Stanley's tricks in the new company and demanding compensation.

Morgan Stanley responded to the lawsuit, gave up the car to protect the commander, and was exempted from compensation, but he paid for talent, and the main designer of the plan, Run Run Kong, became a substitute for the dead.

Originally, the crime was not serious, but because Kong Yifu had a history of black box operation, the punishment was increased and he was sentenced to 75 months in prison. This is actually a death sentence for Run Kong on Wall Street, because there will be no company to use prisoners who have served sentences.

From February 1995 to May 2001, he served his sentence in a state prison in New York.

During this period, he has not dropped out of study, he has been studying financial theory, he does not want to take revenge on Wall Street, he just wants to get back what he lost from Wall Street.

However, the sad thing is that after Kong Yifu was released from prison, he had no opportunity to work in finance at Walki, or even in the United States.

In 2004, 44-year-old Run Run Hung came to Heung Kong and joined a team of private hedge funds as a fund analyst in Hong Kong.

The offshore private fund, helmed by Run Kong, has not caused much stir in the market because of its small size, only about $100 million. However, its earnings are very stable, and it has achieved a net value gain rate of 15% for five consecutive years, which is a very good level among private funds of the same size in Heung Kong.

After countless brutal battles, Kong Yifu, who has seen the financial waves for 20 years, is no longer the passionate and even extreme financial genius he was before he was imprisoned.

After more than 6 years in prison, Kong Yifu has smoothed out many edges and corners, and after he was released from prison, he cherished every opportunity to operate the fund, and at the same time, he was also waiting for the opportunity to get back what he had lost.

In 2010, Run Run Kong was given the opportunity to get his hands on a $1 billion mid-cap fund, and he continued to operate in a steady style, and in just three years, he achieved a remarkable $1.4 billion scale for this private fund.

But inexplicably, before the Christmas holidays in 2013, Run Kong was dismissed as the head of this private fund, reportedly under pressure from the United States.

Although the private equity group behind this private fund is mainly in Hong Kong, it has a lot of business dealings with American companies, and the United States has heard that their private fund is helmed by a financial criminal who has committed crimes in the United States. So the U.S. put pressure on the Heung Kong group to fire Kong Yifu. (To be continued......)