New York World Financial Center, Merrill Lynch Center Business Department 3rd Division, Manager's Office

Jiang Yelin snapped his fingers to settle accounts for Old Wood, but Old Wood grinned and joked when he heard this, "10 big customers with an investment of millions of dollars, okay, this task is entrusted to you, and you don't need 10, Django, every quarter you just need to develop a customer who is willing to invest millions of funds to open a Merrill Lynch account, how about it?!" The highest rate of return in mutual funds is almost the highest category, the annualized return is 10%, our department's performance indicator today is a profit of 5 million, and the most optimistic is to have a turnover of 500 million US dollars, which is still calculated according to the 1% commission, you must first be able to earn 50 million for the customer, and the securities company as a broker can earn the 5 million......"

Old Wood's saying this does sound reasonable, but Jiang Yelin always felt that something was wrong, and after thinking about it, he shook his head and said, "I said the head, the account is not calculated like this, if the total amount of funds of our customers is 10 million, even if the 10% annualized return of the mutual fund is used as a guaranteed commitment, we only need to provide these large customers with 10% annual income, that is, a net income of 1 million US dollars, we can retain these customers, in this way, we have to complete the net profit target is 6 million US dollars, of course, it is a bit difficult, If you want to get a net profit of 6 million with a principal of 10 million, it must be an annualized rate of return of 60%...... The principal of 10 million is indeed a bit insufficient! ”

"Of course it's not enough, the annualized return of 60% has to fall into the sky, but you know that the brokerage can give customers to open credit account financing, right, if the most common 1:1 leveraged financing, in fact, 10 million funds can be used as 20 million to invest, but the risk is also quite large, once the loss is magnified year-on-year, the loss to 50% is equivalent to forced liquidation, which is equal to the number of customers you have now, Zero! Maybe you will be sued by the customer! ”

"Head, I said, I studied Buffett's partnership fund, the return rate in 92 was 20%, and in 91 it was an astonishing 39.6%, the worst in 90 years, but there was also a 7.4% ......" Jiang Yelin cited the example of Buffett's partnership fund, but Old Wood still shook his head and said, "The profits that elephants can make, little goats can't earn, the size of Buffett's partnership fund is now 3.3 billion US dollars, and because of the marginal utility of brand and reputation, He can do the boss's investment and business just by raising new funds every year, and there is no comparison between Group III and Buffett! If the performance does not improve, GroupIII is likely to be laid off by the company in the first year! ”

"It's man-made, I said, anyway, the goal is a net profit of 5 million US dollars, how do you know if you don't try? Otherwise, I'm in charge of mid-to-high-end customers, and Volkswagen customers are handed over to Marbury and Phoenix, and it's always okay to walk on two legs, right? Jiang Yelin didn't expect Old Wood to be so pessimistic, so he could only settle for the next best thing and put the entire Group III on his wild chariot first.

"What's the use of just talking and not practicing? What's more, the rules of the securities industry belong to whoever develops the customer performance and management, and I can't pull all the mid-to-high-end customers developed by Phoenix and Marbury to you, right? What's more, you don't even have any achievements that you can get your hands on, even if I promise Marbury and Phoenix that they agree, other customers may not be willing to accept it! Old Wood is right, customers are the lifeline and foundation of salesmen, and it is not so easy to give up the big customers that they have worked hard to cultivate and develop!

"Of course, you have to practice, word of mouth can make our GROUPIII reputation and brand, head, I have an idea, can we ask the company to set up a GROUPIII aggressive investment portfolio, and then recommend our customers to invest in this portfolio, the fertilizer does not flow into the fields of outsiders, and the portfolio researched by ourselves is always more controllable than others', isn't it?" Jiang Yelin had the audacity to come up with his own proposal.

"GROUPIII Aggressive Portfolio? You kid salesman still don't deserve a word, and this turn of amateur researcher is not appropriate, and you are about to become a fund manager one step away? It's the first time I've seen a rookie rookie like you! Old Wood couldn't cry or laugh, Jiang Yelin's thinking diverged too quickly, and Old Wood felt that he couldn't keep up with it.

"Don't mind, it's okay if you run on me, but you can't risk the investment of our future customers, right? I think, now there are so many products in the company, but they are not in the hands of our GROUPIII, to put it bluntly, no one knows what the yield will be in the future, this is not to see the sky and eat all by Meng, I think the fate of our GroupIII cannot be handed over to others......"

Jiang Yelin looked very stubborn, Old Wood scratched his head, and shook his head after thinking for a long time, "Django, I have been immersed in the securities industry for 20 years, it's not that I haven't seen a genius, but it's not like you, if you don't have a foundation, you have to go to the sky in one step, I can only say that it's a mule or a horse that comes out to slip away, just say what kind of GroupIII aggressive portfolio you are talking about, right?" Before the big boss can notice us, it is impossible to open this opening casually......

At most, this will become an internal small-scale private placement, how big are you going to be? If you are small, you don't make money, and if you make a little mistake when you are big, you may never be able to turn over, and besides, Marbury and Phoenix are both very ambitious and individualistic people, even if I am willing to support you to try, it is not easy to convince them! ”

OLD WOOD THEN TURNED STRAIGHT AND STARED AT JIANG YELIN AND SAID, "YOU KID, YOU DON'T EVEN HAVE THE CAPITAL TO CONVINCE ME NOW, LET ALONE CONVINCE OTHERS, BESIDES, HOW DO I KNOW THAT YOU ARE NOT AN UNDERCOVER AGENT FROM OTHER DEPARTMENTS WHO CAME TO MY GROUPIII TO STIR UP TROUBLE?" If GROUPIII smashes your hands, won't my old Wood I's name become the laughing stock of everyone? ”

"That's it, let's try it first, but I don't have any customers on hand, can you borrow a few accounts from your basic customers? If you want the kind of credit account that often invests in stocks, of course, the larger the amount of funds, the better, so that it is convenient for me to allocate portfolio investments...... "Jiang Yelin took a step back, Old Wood is right, no performance can not convince the public, to persuade GroupIII to work together, first have to convince the department manager in front of him who has hair in his forties, I believe that under the influence of the money-making effect, in the future, Marbury and Phoenix will not be able to run out of their own palms, who will not be able to make money?

"Well, I shouldn't have promised you at all, but one thing you said is right, GROUPIII wants to gain a foothold in the central sales department, must find another shortcut, in the case of manpower and resources in all aspects, it is a good way to take the high-end route, although the difficulty is great, but once it succeeds, customers and funds will roll in...... So, if your GROUPIII portfolio can really make money, I mean that the yield must outperform the Dow Jones index by at least 3 percentage points, and if the annualized return can reach this level, it will almost stand up! ”

Old Wood said for a long time, and finally relented, and promised to dial 3 accounts from his old customer list, and hand them over to Jiang Yelin to try his hand, because retail investors in the American stock market often rarely speculate directly on stocks, and they are entrusted to brokers to operate on their behalf, but some investors will also pay close attention to their account holdings and market capitalization, once investors are not happy with their brokers' trading, they will take the initiative to intervene to ask for clearance or stock exchange, which often disrupts the broker's steps. If you are strict, investors will also complain about the broker, or ask the securities company to change the broker for themselves, or directly clear the position and leave to change the broker.

"Django, for a month, if the book yield of these three accounts is less than the Dow Jones index at that time, then the GROUPIII you said is yellow, you can honestly be a junior salesperson in the third sales department for me, give me 300 strange calls a day, or visit more than 20 customers on the spot every day like Phoenix! Don't show me your GROUPIII combo because other people's opinions will always influence you, and I hope you'd better fail so that I at least have one junior salesperson with an amazing memory back to the right job! ”

Old Wood is actually really righteous, the total amount of funds added up to Jiang Yelin's three accounts is 500,000 US dollars, which is almost the basic customer of Old Wood's bottom of the box, one of which is the old college friend of Old Wood's old classmates, with a capital of 200,000 US dollars, and the other is simply the account of Old Wood's distant cousin, with a capital of 200,000 US dollars, and the last account is the account of Old Wood's mother-in-law, with a capital of 100,000 US dollars, when these three accounts were handed over to Jiang Yelin, 30% of the $500,000 is held in mutual funds, 40% in trust products, and the remaining 30% in several industrial and commercial stocks.

"Mannie, the head has promised to let me try my hand and gave me 500,000 funds in three accounts, do you want to make a big vote?" Out of Old Wood's office, Jiang Yelin aimed at the head of Manis, the secretary assistant who had been listening outside for a long time.

"Uh, can you do it, Django, the knowledge of securities investment is great, the market has fluctuated a lot recently, don't smash your hands all at once, I won't be able to save you when the time comes......" Manness's favorability towards handsome Asian guys is undoubted, but it can't be equated between American favorability and Money, even between husband and wife or between parents, children, brothers and sisters, it is generally settled by brothers, and many men and women even pay their own accounts in the AA system when dating, so now Mannie has a good impression of Jiang Yelin, but when it comes to money, It's not that simple.

"Mannie, what do you think this is?" Jiang Yelin's eyes rolled, and he took out a bunch of keys from his pocket and shook them in front of the freckled beauty assistant's eyes.