New York, a café just a street away on Wall Street.

The café is small, with soft piano music and Roan and Michael Bray sitting face each other at a round table in the deepest part of the café, where there is no one but them.

Michael Bray, the head of Wall Street's "heirloom capital", was previously approached by Roan for his help in shorting financial products in federal real estate (Chapter 575).

"The coffee in this café is very good, it's a real Blue Mountain coffee."

Michael Bray picked up the metal spoon and stirred it in the coffee cup, and said with a smile:

"Except for being expensive, there are no drawbacks."

Blue Mountain Coffee, one of the most expensive coffees in the world, Luo An picked up the coffee cup and took a sip, smacking his lips and frowning slightly:

"It's okay."

The dense and rich flavor is Luo An's first feeling about Blue Mountain coffee.

Moreover, the coffee itself has an appropriate amount of sweet, sour, and bitter flavors, so it has no bitterness at all, only an indescribable sourness.

Luo An has always been sensitive to sourness, and he doesn't like to eat sour things on weekdays.

Blue Mountain coffee is indeed expensive and tastes good, but this sour taste, which is like nothing, but always reverberates in the mouth, makes Luo An really can't like it.

After taking a sip, Luo An didn't continue to taste, and after a few simple small talks, he introduced the words to the topic, and asked with a smile:

"What's the matter with me today?"

Seeing this, Michael Bray was not talking nonsense, looked left and right to make sure that there was no one around, he coughed lightly, leaned forward, and asked in a low voice:

"Team Leader Roan, have you heard of Bernard Madoff?"

“……”

Luo An's eyebrows were raised, the name was all too familiar to him.

The previous Ponzi scheme case, and Director Elmer's coming to him for help, although he hadn't met Bernard Madoff specifically, he had never forgotten the name.

With a hint of thoughtfulness flashing in his eyes, Luo An nodded and replied:

"Bernard Madoff is the former chairman of the NASDAQ, and I've certainly heard of him."

"Since Team Leader Luo An knows, then I won't introduce it again."

Michael Bray moved his chair to Roan's side, and his voice was lower than before:

"Team leader Ann Roan, Bernard Madoff has recently been selling CDS as a financial product through internal channels.

But the price he sells is only two-thirds of the market price.

You know what CDS is a financial product, so I won't say more. I came to you today to ask you if you would like to add money to buy CDS from Bernard Madoff, after all, this is a rare opportunity! ”

“……”

Roan's eyebrows jumped, and as soon as he heard the name Bernard Madoff, he subconsciously remembered the word Ponzi scheme.

Elmer, the IRS's director, has already launched an investigation and evidence-gathering campaign against Bernard Madoff, but no arrests have been made.

Listening to Michael Bray today, Bernard Madoff is selling CDS at a low price, Roan's first reaction is twofold:

Either Bernard Madoff's money chain went wrong, and he started selling financial products to withdraw his funds.

Either Bernard Madoff may have sensed something was wrong and he was about to do something.

Thousands of thoughts flashed through his mind in an instant, and Luo An's expression remained unchanged, and he did not immediately answer Michael Bray, but asked rhetorically:

"Where did you get this news?"

Michael Bray thought that Roan doubted the truth of the matter, and had some concerns, so he immediately patted his chest and said that it was absolutely fine, and then said in a low voice:

"On Wall Street, stocks are not valuable, information is the most valuable item.

As long as there is demand, there will be a market, and information is no exception.

So on Wall Street, information is also a commodity on the shelf, and it is more expensive than stocks! ”

Luo An frowned slightly, since information can be sold, then it is probably no secret that Bernard Madoff is engaged in a Ponzi scheme.

Luo An shook his head and smiled silently in his heart, sure enough, there are no fools on Wall Street, they are all smart people, but these smart people are more greedy.

Michael Bray picked up his coffee and took a sip:

"So, it's a rare opportunity, Team Leader Luo An, do you want to continue to fund the purchase?"

Luo An shook his head:

"Thank you for the message, but no more."

Luo Anxin is also greedy, he also likes money, and he also likes to watch the numbers in his account increase upward.

But compared to greed, Luo An is more cautious and cautious.

Bernard Madoff has been targeted by the IRS Director Elmer and the FBI for engaging in a Ponzi scheme, and as long as he is caught, all his assets will be completely frozen.

No one knows if or where Bernard Madoff sold those CDSs at a low price.

It's okay that once he has done it, and then he will be frozen by the IRS together, it will be too pitiful, and it will be very troublesome later.

“OK。”

Hearing Roan's refusal, Michael Bray smiled and didn't care, he simply told Roan the news, and it was up to the other party to decide whether to buy it or not.

Michael Bray then took out a document from his briefcase, opened it and handed it to Roan, saying:

"This is the CDS product you bought, Team Leader Luo, the premium for the past two months, etc."

The premium for the last two months was $1.35 million, and Michael Bray had already transferred the money to the bank, and Luo An checked for a moment and found that there was no problem, so he put the documents away.

Michael Bray went on to say that the CDS he had previously purchased for Roan was bbb-rated, which is the lower tier.

During this time, by buying low and selling high, swapping in batches, etc., Michael Bray successfully upgraded these BBB levels to AA levels.

AA and BBB, which are the criteria set by Wall Street rating agencies, have the lowest C rating and the highest AAA (3A).

Taking out another folder and handing it to Ann, Michael Bray smiled proudly:

Previously, Team Leader Luo An spent $450 million to purchase bbb-level CDS products, worth $3 billion.

After the level was upgraded to AA, the value of these products increased from the original 3 billion to 4.123 billion.

In addition, in the course of the transaction, a total of $473 million of $450 million of CDS was sold, with a profit of 23 million, or $23 million.

This profit, Team Leader Luo An plans to arrange it like this? Do you want to continue to invest in CDS, or do you want to withdraw and transfer back to your account? ”

"Wow."

Looking at the numbers in the folder, Luo An's eyebrows suddenly raised.

He thought that the $450 million would be put on hold for a few months, waiting for the subprime mortgage crisis to break out and the real estate crash.

Unexpectedly, Michael Bray's operation was so sweeping, not only sold the low-grade CDS to other buyers, but also bought the high-grade CDS product upgrade for Luo An, and also earned him more than $20 million in the process of selling.

The corners of his mouth raised, and Roan handed the document back to Michael Bray, and said with a smile:

"Keep buying CDS products, you can take care of it."

Luo An is now more and more sure that his original judgment was correct, and it is indeed better and more useful to find a professional fund manager to help him invest than to go to the market by himself.

This period of more than $20 million and product upgrades is a testament to this.

"No problem."

Michael Bray smiled and took back the folder, he also had a commission for helping Roan make money, and the two were a win-win situation.

After a moment of small talk, Michael Bray got up and left first, and the phrase time equals money was completely literal to him.

Luo An left the café and got into the car, muttered for a few seconds, took out his mobile phone to find a number and called, the call was quickly connected, and a male voice came out:

"This is Elmer."

(End of chapter)