My Age of Investment

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"From last year to this year, Xiaoman Fund has been investing in foreign exchange, index, Latin American foreign exchange, bonds and European credit of the Group of Seven."

When Liu Hai finished his report, Jiang Ping immediately started to report.

He also made a set of PPTs with detailed data and played them on the electronic screen.

Jiang Ping stood beside the electronic screen, like a teacher in class, pointing at various data, and gave Xia Jingxing a detailed introduction.

As a trader, Jiang Ping is usually reticent, but once the topic comes to his old business, he can immediately become eloquent.

Xia Jingxing listened very carefully. Compared with the Lixia hedge fund that invests in stocks, Jiang Ping's Xiaoman hedge fund is much more complicated and obscure.

The most troublesome thing was all short-term transactions. Xia Jingxing's eyes felt a little swollen looking at the densely packed delivery orders.

He hardly pays attention to Jiang Ping buying Japanese foreign exchange today and shorting the Italian index tomorrow. He only checks after a while to see if the fund's asset management scale has increased.

He also knows the general trend of some giants in stocks, and he is completely blinded by financial derivatives, because even gods can't remember so many things.

Moreover, after he studied for a master's degree in finance in his previous life, it was a pity that he did not go to Wall Street to be gilded, but went to a start-up company, and later started his own business.

In this case, he did not dare to "micromanage" the Xiaoman Fund indiscriminately.

Jiang Ping also knew that the boss's level was limited, so he slowed down his speech, explaining basic things like a teacher giving lectures to students from time to time.

Xiaoman Fund is not like Lixia Fund, which trades at a high frequency and pays attention to fast in and fast out, and the income obtained is almost accumulated every day.

"From last year to this year, our annualized rate of return is 55%, and the fund management scale has increased from US$600 million to US$930 million."

Xia Jingxing felt that this rate of return was already very good, but Jiang Ping was not very satisfied with this performance, and added a sentence: "The performance return is not very satisfactory. If there is no black swan this year, I am very sure that it will surpass last year."

Jiang Ping's attire is not as full of elite atmosphere as bangs, but very restrained, with a small crew cut with square-frame glasses, and a very ordinary blue Polo on his thin upper body, which looks a bit empty.

He looked more like a college teacher than a Wall Street elite.

At this time, this scholarly man said the most domineering and revealing words - more than last year.

Xia Jingxing knew that the other party was not joking, and it was impossible to use this kind of thing to please the boss.

Either the team has been run-in and the confidence is bursting; or it is adapted to manage a fund with a high degree of freedom.

Last year, when Jiang Ping first started trading, he lost seven to eight million US dollars, because he did not adapt to the change of status and had a certain psychological burden.

According to Xia Jingxing's observation, the other party should be fully adapted to the new company and new fund now.

Xia Jingxing was not too surprised by Jiang Ping's achievements.

During the ten years that the other party worked at Lehman Brothers, he relied on a fund with a scale of only 100 to 200 million U.S. dollars every year to create hundreds of millions of dollars in profits for the company, with an annual return ranging from 30% to 40% to more than double.

It is a pity that Lehman Brothers still exploits this kind of money-making machine, and only gives one-third of the normal commission.

Even though the company was so unfair, Jiang Ping worked for Lehman for ten years and helped Lehman make a unicorn company full of money.

Xia Jingxing felt that he had done the right thing in poaching the other party, and he had lived up to the 12 million USD entry bonus and the 20% company profit commission he had given him.

By pinching his fingers, he can calculate Jiang Ping's salary this year.

Xiaoman Fund earned 330 million US dollars, and the excess income share was 10% higher than that of Lixia Fund, reaching 30%. The company can share 99 million US dollars of it.

20% of this money, or nearly 20 million US dollars, will be paid to Jiang Ping as part of his salary.

At the same time, Jiang Ping subscribed for 2% of the fund's 12 million US dollars entry bonus, and he could get another nearly 5 million US dollars.

Add in the base salary and the entry bonus, and you get almost $40 million in annual revenue.

This is the price of top talent, is it expensive? Xia Jingxing didn't think it was expensive.

"Very good. What I admire most is your calm temperament, which is a must-have quality for every top trader."

Facing Xia Jingxing's praise, Jiang Ping smiled, and said modestly: "Dai Lun, you are overrated!"

Looking at Xia Jingxing, Jiang Ping pondered for a moment, and suddenly said sincerely: "To be honest, I am very grateful to Dai Lun for giving me such a big stage, so that I can have sufficient authority to control a company whose scale is close to 1 billion dollars. fund.

After living for forty years, this is the first time that I have controlled such a large fund, which is considered to have helped me realize my dream.

Although it will be very tiring, I feel that I have endless energy every day. "

This is also what Jiang Ping said in his heart. Is Wall Street fair to the Chinese? His experience over the past ten years speaks for itself.

Only in Xia Jingxing's place did he feel that he was living the way he wanted, without discrimination, without the white people's compliance and risk control to dictate, he could trade as he wanted, and give full play to all his talents.

As for the income, not to mention, it is nearly ten times higher than in Lehman.

Therefore, he is not dissatisfied with his current job. He only regrets that he made less money last year and that he did not welcome his first billion fund sooner.

Xia Jingxing nodded with a smile and gave Jiang Ping a positive look. He knew how important what he gave was to Jiang Ping, and the other party clearly knew this too, so there was no need to say too much.

"Daren, this year I plan to focus on Chinese stocks, Asian stocks, and global oil and energy stocks."

Jiang Ping explained: "Taking China's largest oil company, PetroChina listed on the Hong Kong Stock Exchange as an example, its price-earnings ratio is only 8 times, and its dividend ratio reaches 11%. The rate is only 2.5%.

Xia Jingxing did not limit the financial products that Jiang Ping could invest in, and he also ordered that as long as there is a suitable opportunity, he will do it.

"No problem, you decide for yourself, just let me know before you formally invest."

Jiang Ping nodded, didn't say much, but kept this trust in his heart.

Compared with the previous two bigwigs whose asset management scale is close to one billion, Ricky, who is the last one to report to work, has much less momentum.

He also played a PPT for Xia Jingxing to show the results of his work through data.

Ricky is currently in charge of three VC funds, the Beginning Spring Fund with a management scale of US$27.44 million, the Rainwater Fund with a management scale of US$50 million, and the Equinox Fund with a management scale of US$100 million.

Lichun Fund completed its investment last year and fully shifted to post-investment management. Its investment targets in the United States include Tesla and LinkedIn.

The Rainwater Fund has also basically run out of funds, because Xia Jingxing invested nearly 30 million US dollars last year, and Ricky squandered the remaining 20 million US dollars, investing in seven companies.

Before investing, Rich also reported to Xia Jingxing.

Except for a company named (Palantier) and Slide (Sliding), Xia Jingxing is not very familiar with the rest of the companies, or has no impression at all.

Palantir is a big data analysis company founded by PayPal founder and Facebook investor Peter Thiel. Its main customers are government agencies and financial institutions. The most famous case in its previous life was to help the US military with big data technology Successfully located and killed al Qaeda leader Ben · **.

After learning that Peter Thiel had participated in the founding of this enterprise, Xia Jingxing immediately called this old friend, forcing Peter Thiel, who originally didn't want to raise money from the outside world, to open a back door out of favor.

As for the Slide company, it was the company that made slide shows for social networking. The founder, Max, used to be the CTO and think tank of PayPal, and was also an angel investor of Yelp. He and Xia Jingxing were old acquaintances.

After learning that Slide was planning to start developing third-party tools for Facebook, Xia Jingxing instructed Ricky to invest in it without saying a word.

It is hard to believe that the PayPal gangsters are too good at starting a business, and Xia Jingxing has also had a very big interaction with this gang.

The original founders of Tesla and Youtube, which were cut off by him, were employees of PayPal, and the founders of companies such as Palantir, Slide, Yelp, and LinkedIn that he invested in were also trained by PayPal. talent.

In addition to these two companies, Ricky also invested in five companies of his own choice.

The amount was only a few million U.S. dollars, Xia Jingxing didn't pay much attention to it, and didn't allow Ricky to invest, leaving it to the other party to handle it.

Equinox, a co-investment fund, spent more than 10 million US dollars in investing in Tesla last year, and it has hardly been used this year.

In view of this situation, Ricky suggested: "Dai Lun, the other two funds are out of money, why not use the Spring Equinox Fund as the fund leading the first round of investment, and follow the investment fund... We have too few projects, and it feels like we are temporarily No need to set up."

Xia Jingxing nodded. After he returned to China, Envision Capital's VC business in the United States almost stagnated.

Compared with Vision Capital’s sleight of hand in China, it can only be described as a small scene in the United States. It only invested in seven companies in a year, and the investment amount was less than 20 million US dollars. It is true that there is no need to set up a special co-investment fund.

At the same time, in his opinion, the development of the VC business in the United States is indeed a bit slow, and he needs to find a way to speed it up.

"Oh, by the way, Andrew is preparing to build an incubator recently, you can help.

Take a look at it along the way, and when we encounter potential projects, we will pick them out and vigorously cultivate them.

If all goes well, I plan to set up a large-scale VC fund next year to expand Vision Capital's venture capital business in the United States. "

Hearing Xia Jingxing's words, Ricky instantly became excited.

I just heard that two colleagues were talking about hundreds of millions of dollars or billions of dollars. They said that they were not envious at all, that was a lie.

Now seeing that the boss has the idea of ​​expanding the VC business, how could Ricky not be excited.

"Okay, Darren, I'll talk to Andrew tomorrow."

Xia Jingxing nodded and glanced at the three team members. They were the entire strength of Envision Capital in the United States.

If only the asset management scale is considered, the US division is stronger than the Chinese division, but in terms of business layout, it is far behind China.

This is also determined by the scientific and technological strength and industrial volume of the two countries.

In China, he can be king and hegemony, but in the United States, he is really not very important.

After the meeting was over, Xia Jingxing went home, and Liu Hai and Jiang Ping were with him.

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