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

"Mr.Ye, I must warn you that what happened this afternoon could be the end of your career, and you pulled the third business department into the water and dragged you into your chariot when everyone was unprepared, and misled investors Once you are targeted by the SEC, the gods will not be able to save you!" Old Wood's face turned pale, and he yelled at the innocent-looking Asian junior salesman.

"This, head, indeed, if you think that the buying of just 18,000 shares can manipulate the stock price of an elephant like GE with a market value of 73 billion and a total share capital of 858 million, I think this is something that the SEC itself will not believe such a myth! Besides, I just called the New York Business Radio FM 77.7 audience hotline three times as an enthusiastic listener, even as an ordinary investor or listener, that is my right, compared to those media reporters who listen to the wind and rain, my few phone calls are not worth mentioning at all......"

On a television suspended above the office, an impromptu press conference at GE's headquarters in Fairfido was played, and an embarrassed-looking spokesperson on the screen was bombarded with questions from media reporters denying market rumors that GE would wholly acquire Sweden's Saab Motors, calling it nonsense, and that GE and GM were two completely independent companies......

Then the camera switched to the GM General Motors press conference in Detroit, the GM spokesperson claimed that he was not dissatisfied with the current situation of holding 50% of the Swedish Saab, and did not plan to sell these shares of Saab, the cooperation between the two sides has been a win-win situation, Saab Motors' performance has increased by 18% compared with GM three years ago when it acquired 50% of Saab's shares, and it is expected to continue to maintain double-digit growth this year!

"I said Django, your dude is really dancing on a tightrope, I was stunned this afternoon...... But the head is right, we are all practitioners with a securities broker license, although this idea of playing an enthusiastic audience works very well, but the risk is too great, and if I change it, wouldn't it be better for the media to do all this dirty work? "Marbury, a black guy, is not a rigid guy, and after being surprised by Jiang Yelin's audacity, his mind can't help but become lively, and he feels that there is a better and more secure way to replace the rumor offensive similar to this afternoon.

"Head, I think, as a salesperson in the third sales department, it is king to increase the value of customers' investment, and everything else is a small section, although I don't know where Django saw the news, but the rumors that GE wants to buy the Saab held by GM are too strange, and this time I am afraid it was really made up by Django out of thin air...... As for the factory fire in Fairfido City, it was also published on the Wall Street Journal's 17th page of the social news, and it was not made up by Django...... If we follow the rules and develop our business step by step, how can we fight the elites of the first and second departments with just a few guns?! ”

Assistant manager, secretary and big housekeeper of the third sales department, Manis, spoke for Jiang Yelin with a proud chest, the older freckles beauty assistant now regards Jiang Yelin as a celestial, if his method of rapid investment and short-term operation can always work, the development and growth of the third sales department is not a pipe dream or a castle in the air!

There was silence in the office, Old Wood was at war in his heart, the supervision of American securities practitioners is much stricter than other markets in the world, of course, it is not so strict that practitioners are prohibited from opening accounts and speculating in stocks, Jiang Yelin now no matter what he says, the operation is the public account of the third business department, and the funds on the customer account of the third business department are used, and in terms of internal management, there are no violations, 7 credit accounts with 800,000 funds, plus the leverage of 1:1 financing, It can be said that it was used to the extreme by Jiang Yelin's short-term trading method this afternoon.

"Head, if the CSRC says that our third business department uses 800,000 funds to manipulate GE's stock price, I'm afraid the whole world will laugh off its teeth, GE traded 15.6 million shares today, with a turnover of $1.3 billion, and you say that the 18,000 shares we bought and sold can affect and interfere with GE's stock price? In addition to long-term holding and dividend income, investing in stocks is originally based on the increase in bid-ask spreads to increase returns, I think, of course, this matter should be low-key, but the winner should not be blamed, right? ”

Marbury also stood up to defend Jiang Yelin, this black young man felt for the first time that what Jiang Yelin did opened his eyes, Metersbonwe is not going the usual way, to be honest, no matter how many customers with less than $20,000 per capita account investment amount invest in mutual funds, the low yield is terrible for brokers, and fund investment accounts are often long-term low-frequency transactions, which makes salesmen have to discover new customers every day, otherwise even if you have more customers in your hands, people will not trade for a long time with investment. It is equivalent to a locked account, which cannot provide more commissions and commission returns for the brokerage.

"Head, I think, you can let Django continue to experiment, this afternoon his short-term trading can be described as superb, the average price of 18,000 shares of GE for the first time is 84.42, the price of closing 18,000 shares and then shorting 18,000 shares is 84.95, and then the average price of the 18,000 shares that are bought and closed before the close of trading is 84.16, excluding transaction costs, a net profit of $1.38 per share! And GE's closing price of 84.12 today is only 1 cent 2 higher than yesterday's closing price! ”

Of course, the figures and earnings quoted by Mannie are exciting, if Jiang Yelin has this kind of miraculous level every time he trades, it is definitely a super-first-class stock god, with his 800,000 funds this afternoon, today's half-day yield has reached 3.1%, of course, there is a reason for financing 1:1 leverage, but in terms of trading GE such a big blue-chip behemoth can get such a record cleanly, even in terms of Old Wood's harsh and conservative character, it is still exciting!

"Head, not every private equity fund can get more than 3% of the yield in a day on a big blue-chip stock like GE, I think we can set up the first internal investment and wealth management portfolio of the third business department......" Mannie took advantage of the fire, Jiang Yelin used the public account of the third branch of the business department of Merrill Lynch Securities Center in the afternoon, and now the account has 18,000 shares of GE stocks bought before the close of the market, which can be registered in the public account of the third business department. It is also possible to distribute the shares directly to the 7 customer accounts on a pro-rata basis, as long as they are registered with the exchange before the deadline of registration and settlement on the same day.

In fact, before the completion of the daily routine registration, these shares of GE are in the large account of Merrill Lynch, such as the third branch of the central business department is just the internal securities investment account of Merrill Lynch, and the delivery will be based on the registration of the investor's personal account or similar fund account, trust account, etc., and under the public account of the third business department, you can also set up sub-accounts for various investment portfolios, and these investment and wealth management portfolios become Merrill Lynch internal products. For Merrill Lynch clients to invest in.

Therefore, Jiang Yelin's GROUPIII aggressive stock portfolio, if formally established internally, can start internal issuance and subscription among Merrill Lynch customers, the first batch of 800,000 funds in the 7 accounts, you can directly subscribe for 800,000 shares of GROUPIII internal funds, the funds on the customer account are converted into fund shares through guò subscription and subscription, and the GROUPIII fund account will obtain the funds paid by the customer subscription, and use these subscription funds to start real external investments. For example, the buying and selling of stocks, warrants, treasury bonds, and other public funds.

In fact, there are many kinds of similar brokerage internal investment and wealth management fund portfolios, at least 20 such internal funds are available for their customers to invest and choose from, and there are nearly 10 such internal fund portfolios in the second business department, these internal funds do not belong to the public offering and subscription funds in the securities market, only for the internal subscription and selection of customers who open accounts and invest in brokers, and the yield is often about 1 percentage point higher than that of mutual funds in the market, and some can even be more than 10 percentage points higher. The advantage of the internal fund of the brokerage is that the allocation is flexible and convenient for customers to subscribe and choose, and the disadvantage is that it can only be subscribed or redeemed internally, unlike mutual funds, which can be directly traded and circulated in the securities market.

In addition to these brokerage internal funds, large brokerages like Merrill Lynch also issue a variety of public funds and ETF fund portfolios facing the entire securities market, which are managed by the best fund management team of the brokerage, open to all social investors to subscribe and subscribe, of course, like stocks and other financial derivatives subject to stricter supervision, and internal funds and private funds, the biggest feature of public funds is that the fund shares themselves can be traded and circulated in the market. Of course, the transaction price will be higher than the net value of the fund most of the time, and when the market fluctuates greatly, it may be the opposite, and the transaction price of the fund will be lower than the actual market value.

"Just one day's performance can't explain the problem, the success that can be replicated is the real success, Django, the third sales department can apply to the central sales department for the record to set up an internal G3 partial stock aggressive investment fund portfolio, but before you can prove yourself thoroughly, you can't promote and recruit customers outside the third department of customers...... Even if the customers of the third business department are willing to invest in the G3 fund, it depends on whether the customers are willing, except for the seven basic customers that have been given to you, other customers need to fight for it yourself! Old Wood got up and walked around the cramped office several times with his hands behind his back, finally gritting his teeth and relenting.

"Head, I'm fine, but the ugly words ahead, first, what kind of performance is the real success you are talking about? Second, as long as I am in Merrill Lynch for one day, this internal G3 fund in the third business department is only managed by me! Don't say that when the time comes, see that the yield is high, and then snatch it away for me and hand it over to others, then I don't agree to it! Jiang Yelin followed and asked.

"What does it mean to be truly successful? Daily returns can be negative, but weekly and monthly returns must be positive and must not be less than 3 percentage points higher than the S&P 500 growth rate! It can't be lower than the yield of the U.S. 10-year Treasury bond, which is only for you to try for a month, if the G3 fund you operate reaches the target, then I will apply for it as a class B internal fund portfolio that can be developed to all clients of Merrill Lynch...... If you don't reach your goal, I'll take back these rights from you at any time! You kid, the salesman's serious words don't learn or do, and he is ambitious to be a fund manager, I'll see what you can toss for the third sales department! ”