The third branch of the Merrill Lynch Center Business Department, World Financial Center, Manhattan, New York

With the establishment of the G3 internal fund of the third business department, Jiang Yelin's work focus has shifted to trading, and the responsibility of developing high-end customers to subscribe to the G3 fund has been handed over to Marbury, Phoenix and Manny, of course, Phoenix, as a former senior salesman of the first business department, is a little suspicious of Jiang Yelin's G3 fund, but since Old Wood sent a message to Jiang Yelin and the G3 fund for a month, However, the promised rate of return and the mechanism of redemption at any time of the G3 fund are more attractive than other internal funds in the sales department, so Phoenix still pinched his nose and plunged into the ranks of promoting the G3 fund.

The scale of the first day of the establishment of the G3 fund is 800,000 shares, and the second day completely breaks through the limit of the original 7 accounts, because of the dare to promise that the guaranteed annualized return is not less than 10 years of treasury bonds, the promise can be redeemed at any time without handling fees, and the actual annualized return of the promised is more than 3 percentage points above the US Treasury bonds. Objectively, this newly established internal fund has become a star product for the three business departments to develop new customers externally and tap the potential of old customers.

In the first week of the establishment of the G3 fund, the number of fund subscription customers surged to 25 customers, and the average account investment amount reached 400,000 US dollars.

Among the 25 VIP customers who subscribed to the G3 fund, Old Wood contributed 8, Marbury contributed 5, Phoenix contributed 7, and even Mannie also contributed two VIP customers with a capital scale of more than $100,000, as for Jiang Yelin, he has three top-level VIP customers directly under his name, including Mrs. Hudson's account, and two other new Merrill Lynch customers who also subscribed to 500,000 G3 funds each.

By the end of the first week of operation, the fund size was 10 million, and the net value of the unit fund increased from $1.0000 to $1.0687, in other words, the return of the G3 fund in the first week of existence was as high as 6. 87%, this is still the net value of the unit obtained after deducting the handling fees and transaction commissions, as well as the financing interest, the fund asset size of 10.687 million US dollars plus 10 million credit financing, Jiang Yelin's chips are nearly 20.7 million funds.

This week, the Dow Jones Industrial Index fluctuated up and down by no more than 1.02%, the S&P 500 index floated by only 1.2%, and the yield change of the US 10-year Treasury bond was -0.32%, if the G3 fund can maintain such a crazy weekly return, then the annualized return will exceed 384%, in fact, it is rare for funds with an average weekly return of more than 1% in the market, which means that the annualized return will be more than 56%, you must know that the annual return of Buffett Partnership Fund in 91 years is only 39%, In '92 it fell to 20%.

Of course, the G3 fund has only been in operation for a week, and Jiang Yelin's G3 fund has only bought and sold the shares of the big blue chip GE, and the GE stock price has fluctuated in the range of $84-85 this week, but the accuracy of Jiang Yelin's ultra-short-term operation seems to be like a divine help, so Leng is buying and selling GE stocks short, and the G3 fund has won a dazzling weekly net value growth of 6.87% in the first week!

In the first week of the establishment of the G3 fund, although the capital size was only 20 million US dollars with the addition of financing leverage, Jiang Yelin used the characteristics of the credit account T+0 to become an out-and-out day trader, trading nearly 230,000 shares of GE stocks each time, and 20 million funds made a turnover of 700 million US dollars in a week, and on average, he had to buy and sell as many as 7 times a day. With a turnover of 700 million US dollars, the average stock price of GE is 84.50 US dollars, and the number of GE shares traded back and forth is as high as 8.28 million shares.

If this trading scale is maintained every week, regardless of whether the final net value of the G3 fund increases or decreases, the commission income of the third business department will reach 14 million US dollars for the whole year! Remove all kinds of apportioned operating costs, net profit of at least 12 million or more, this dazzling achievement made Old Wood and Phoenix obediently shut their mouths, and devoted themselves to the development of customers to promote the work of the G3 fund, as for the black boy Marbury, it is even more like a fish in water, since there is a trump card product in hand, I am not afraid of not being able to pull high-end customers, the only thing that makes everyone feel unsteady is nothing more than the growth of the trading volume and net value of the G3 fund, whether it can be maintained, not to mention the weekly net value growth of 6%, Even if it can only grow by 0.6%, the annualized return will also exceed 33%! This achievement can also throw the annualized return of Buffett's partner fund more than a few streets later!

At the end of the first week, all 25 investors of the G3 fund were the first to get the G3 fund net value report delivered by written express delivery from Merrill Lynch's business department, and all customers were glad that they made the right choice a week ago, of course, the net value of the fund unit rose by 6% every week, which is something that no one dared to think, for these customers who invest in the G3 fund with the mood of trying, if the weekly fund net value growth can be maintained to more than 0.5%, it is quite a high-quality investment fund. That's an investment that's definitely worth investing in!

There is no impermeable wall in the world, especially in the business department of Merrill Lynch Securities Center, at the weekly meeting, the third business department of Old Wood won the praise and praise of the general manager of the business department, and the performance table of the internal fund G3 is not far away, because it is an internal fund, theoretically all customers of Merrill Lynch Securities can subscribe, but the threshold line delineated by Jiang Yelin is not low, and the balance of personal credit account funds must be greater than 100,000 US dollars to apply for subscription, and, The upper limit of the subscription limit for a single account is still limited to no more than $500,000!

At the beginning of the second week, the scale of the G3 fund expanded to 100 customers, of which 35 came from the third business department to explore and expand, and the remaining 65 customers came from the customers of the first and second business departments. It's normal for customers to switch their investments to other better products!

The size of the first week of the G3 fund is that 25 customers subscribed a total of 10 million shares, and the fund shares redeemed for various reasons in the second week are 750,000 shares.

Therefore, the scale of the G3 fund in the second week is to have 100 VIP customers, with an average subscription of 420,000 shares, and the total fund size has reached 42 million shares. In fact, the net value of the fund unit at the time of the second phase of fund subscription was 1.0678, so the increase of 32 million new subscription funds brought 34.2 million new funds to the G3 fund.

However, the elder Wood did not agree, the majority of investors in the United States have not yet advanced their understanding of investment to that level, and the dividend ex-rights themselves will make the net value of the fund recover to $1 at each subscription, so that those investment laymen feel that this G3 fund has not increased in value at all.

At the beginning of the second week, everyone in the third business department was eager to try, and the salesmen in the first and second sales departments who recommended their customers to subscribe to the G3 fund were of course a little upset in their hearts, if it weren't for the G3 fund in the first week only invested in and bought big blue chip star stocks like GE, there are really not many people who dare to casually recommend the G3 fund as a high-quality product to their customers, GE is not only the top ten weighted shares of the Dow and the S&P, but also the first industrial stock in the United States, the third largest giant in the United States in terms of market capitalization, The G3 fund's investment in GE stocks is reassuring to everyone, and if GE falls miserably, I'm afraid other stocks and financial derivatives will fall even worse, right?!

For Jiang Yelin, the start of Merrill Lynch Securities can be described as perfect, in fact, the two of them have hardly been out of the house on the weekend with Matsushima, the island beauty in the Morgan Stanley Investment Department is like a budding pink rose, and in just a few weeks after entering the company, the suitors sent flowers to eat and watch movies add up to more than an infantry squad, of course, the iceberg beauty is still the iceberg beauty, only when she is with Jiang Yelin, and her Django sauce is greasy together, the pink rose will bloom unreservedly!

The second week was much more challenging for Jiang Yelin than the first week, the share of the G3 fund soared to 42 million, and the amount of funds was as high as 44.2 million, and he actually had nearly 88.4 million available funds under the 1:1 financing leverage, which almost allowed him to buy or sell 1.04 million shares of GE shares at a time, which accounted for 10% of the daily trading volume of GE, and if he added his back-and-forth operation as a day trader, the number of shares of GE stocks bought and sold by the G3 fund every day would be as high as 50% of the daily trading volume of GE Obviously, this is no joke!