"Kong Yifu is certainly suitable to be our fund manager, but the question is, can you invite him? He looks like he's been in jail, right? Where did he go after that, you know? When Fu Hao looked at Kong Yifu's legendary experience, the final ending was that Kong Yifu was sold by an American company, and was imprisoned for more than 6 years. Fu Hao didn't pay more attention to it when he wrote the novel, he didn't know where this great god was working now.

"As far as I know, Run Kong has been writing books for the last two years. The book I read when I went to Aomen, "Dirty Financial Derivatives", is the latest professional financial book published by Run Run Kong this year. ”

"Huh? Did he start writing books? He's not doing financial work anymore? Fu Hao was slightly stunned. Although Kong Yifu is a genius in the financial field, if he is out of battle for a long time, he should no longer be able to control a fund, right?

"It's only been the last two years since he started writing books. I've been engaged in related work before, and I'm going to the bank soon, and I've sorted out his information for you, just look at his information. ”

The two went to Qiu Ting's office at the bank, and Qiu Ting brought Fu Hao a document about three pages of A4 paper about the detailed life and career records of Kong Yifu.

When Fu Hao first wrote the novel, in order to fit the era in which he was written, he changed the background of Kong Yifu, so he couldn't remember what Kong Yifu's specific resume was in real life.

Now seeing the information about Kong Yifu sorted out by Qiu Ting, Fu Hao reawakened his memory of this super financial genius.

Kong Yifu was born in 1960 in Fujian, China. When he was 6 years old, his parents immigrated to San Francisco, USA.

Run Off's father was a mathematician, which gave him an extraordinary love for mathematics from an early age. At the age of 16, he entered MIT to study mathematics, and at the age of 20, he entered the University of Chicago to study business management, finance, and quantitative analysis.

22 years old. Estrial Kong was favored by Wall Street and joined the Bank of Boston as a financial analyst.

With his unique modeling skills and keen eye, in less than three years, "China Hole" has become a star analyst on Wall Street.

In the fall of 1985, at the age of 25, Run Kong jumped to the then little-known hedge fund Cole Fund as fund manager, mainly responsible for domestic stock market investment and investment in the dollar interest rate market.

Throughout '86, Run Kong was responsible for the fund part of the investment. It achieved a super high return of 60%, becoming the best performing fund manager on Wall Street that year.

'87 was the year of Kong Yifu's take-off.

In previous years, the United States had been in a period of low growth. The lack of demand for productive investment and the influx of surplus capital into the securities market have led to rampant financial investment and an unprecedented inflated debt.

Kong Yifu analyzed. At that time, the U.S. stock market had reached the peak of false prosperity. Moreover, the government's fiscal deficit and trade deficit are too high, and in order to attract foreign capital to make up for the shortage of domestic funds, interest rates will remain high, which will greatly affect the stock market situation.

Sure enough, the U.S. stock market crashed on 10/19/87. The Dow Jones fell 508 points, or 22.6%, in a single day. The US stock market plummeted for a week in a row, announcing the complete bursting of the "bubble economy". At this time, Kong Yifu had already withdrawn from the stock market and turned to stock index futures, creating an amazing reverse performance that year!

That was the first time Kong Run Fu confronted financial tycoon Soros, who preached in Wall Street commentary that the US stock market would be strong and the Japanese stock market would collapse, and the result was the opposite: the US stock market collapsed, but the Japanese stock market was strong.

Soros's Quantum Fund lost 32% of its net value that year, and Kong Yifu, who was against him, made the Cole Fund profit 70%, which is an amazing number! Because almost all hedge funds lost money that year.

At the beginning of 87, the Walker Fund, which only controlled 400 million US dollars, has become a large hedge fund with a capital of more than 3 billion US dollars in 88, and the 27-year-old Kong Yifu has also become the second person in the Kohl Fund, and is praised as the wizard of Wall Street!

After that, the Cole Fund led by Kong Yifu had a smooth ride. In the late 80s and early 90s, they modeled and judged that Japan's bubble economy was about to burst, and vigorously shorted the Japanese stock market, making another profit.

By '91, the Cole Fund had surpassed Julian. Robertson's Tiger Fund and Soros's Quantum Fund have become the best and most aggressive macro hedge funds in the industry.

If a person reaches a height far beyond where he should be, the person's mentality tends to change, either becoming timid or blind, and Kong Yifu is the latter.

In Europe in the early nineties of the last century, Germany after the reunification of East and West Germany, the economy grew strongly, the Deutsche Mark was strong, and Britain was in a period of economic downturn, and the pound was relatively weak.

In order to support the pound, the Bank of England interest rate continues to be high, but this will hurt the interests of the United Kingdom, so the United Kingdom wants Germany to reduce the interest rate of the mark to ease the pressure on the pound. However, due to the overheating of the German economy, Germany wants to cool the economy with a high interest rate policy, and is reluctant to lower interest rates.

Through his connections in Europe, Soros learned that Germany would not do anything to harm its economic interests, that is, it would refuse to demand an interest rate cut. He had a premonition that the Germans were ready to retreat, the mark no longer supported the pound, and the pound was likely to withdraw from the exchange rate mechanism to implement free floating, and it was likely to depreciate sharply, so in early 92, he operated his quantum fund to borrow a large amount of pounds in the form of 5% margin to buy the mark.

His strategy is to buy the mark with the pound before the pound exchange rate falls, and sell a part of the mark when the pound exchange rate plummets to pay off the pound that was borrowed, and the rest is a net profit.

The operation of Kong Yifu and Soros was completely opposite, Kong Yifu was overconfident at that time, and the British government would be responsible for the pound and would not let the pound depreciate, so he vigorously bought the pound sterling, hoping to rely on the interest rate differential to obtain income. Several successive victories over predators like Soros have made Kong Yifu, who has just passed his first year, a little blind and arrogant. His boldness in the international currency market is far less than that of his in the stock market, and his attainments are far less advanced than those of Soros. (To be continued......)