My Age of Investment

Chapter 757

"Mr. Paulson, please sit down!"

Xia Jingxing was exhausted all over, but he still pulled himself together, and with a smile, he beckoned John Paulson to sit on the sofa in his office.

Jiang Ping and Liu Hai, who were sitting beside the sofa, kept looking at Paulson.

The boss called them to the company early in the morning and explained everything to them.

This makes them have a strong interest in this man who yells "short the housing market and win huge returns for LP".

This is the first time that they have heard of a colleague who has the same idea as them, and they are eager to hear this person's views on the housing market and subprime mortgage bonds.

"These two are my firm's hedge fund managers, William and Peter."

Paulson nodded to the two, who returned the courtesy.

Then, Paulson began to take out documents and materials from the briefcase.

A thick stack of materials was placed on the coffee table, and Paulson said indifferently: "This is a comprehensive report on subprime mortgage bonds that my team and I spent nearly a year investigating, visiting and researching."

Jiang Ping picked up the top stack of materials, and gave half to Liu Hai, and the two looked at it intently.

Paulson looked at the two without blinking, feeling a little uneasy.

He had shown the same material to countless LPs, but most of them took it as a joke and advised him to change his career and start a research company.

These people don't think the problems reflected by these materials are serious, or think that although the problems are serious, they are not so serious that the housing market is about to collapse immediately.

Housing prices will only rise and not fall, which has almost become the consensus of the American people at this time.

This is faith, and it will never waver.

In the past few years, the experts and scholars who talked about the empty housing market have been dragged out for several rounds, because they caused countless people to get on the bus one step late, and they were burdened with hundreds of thousands of dollars in mortgage loans for house purchases.

After a while, Jiang Ping and Liu Hai put down the materials in their hands, and the former said, "Mr. Paulson, are these reports drawn up by you and your team visiting real estate brokers, companies, mortgage companies, and loan officers?"

"Yes!"

Paulson said with firm eyes, "The situation in the report is by no means a farce, but an absurd thing happening in all fifty states of the United States at this time..."

Paulson described his findings, including how poor the qualifications of borrowers, how loose the credit conditions are, how the financial institutions responsible for housing mortgages do not act, and so on.

This is similar to the discovery of Vision Capital.

It's just that Jiang Ping and Liu Hai also noticed that the report of Paulson's team was actually more detailed than the information obtained by their investigation.

Then they thought, after all, it took nearly a year for others to use it, but they only used it for a few months, so they cleared their doubts.

Both of them looked at Xia Jingxing together and asked the boss for his opinion.

Xia Jingxing leaned on the sofa, crossed his legs, and said lightly, "Mr. Paulson, can you tell me how much money you raised for this new fund?"

Paulson was suddenly at a loss for words, and this question just hit his sore spot.

“To be honest, I only raised $15 million, and the investors were from Europe.”

Paulson smiled self-deprecatingly, "Investors in the United States think I am crazy, and many people plan to read my jokes.

They would rather believe that shitty "AAA" credit rating than a detailed report that a hedge fund manager and his team spent nearly a year coming up with. "

"You are very frank, I thought you would avoid this question." Xia Jingxing straightened up, looking straight at Paulson.

"I have always been like this. I never keep or hide anything in front of LP."

Paulson said proudly: "Because I always believe that smart and truly far-sighted investors should be on the same channel as fund managers, so that they understand what I am doing and trust me."

Xia Jingxing nodded, "That's right, what impressed me the most about you yesterday was your sincerity, and you told me when you came up that you were going to start the vacant house market, which shocked me a lot.

Regardless of your investigation report, I appreciate your candor, which is why I have this opportunity to meet you today. "

Paulson smiled. He was really forced to the point of no choice yesterday. He didn't think too much about it, so he could only bite the bullet and treat a dead horse like a living horse doctor.

"Okay, let's stop here today, I am very interested in your materials, but it involves such a large sum of money, we need to conduct some rigorous analysis."

Paulson nodded. He understood Xia Jingxing's concerns. If it were him, he would have to think twice before investing.

In short, Xia Jingxing didn't dismiss his report, nor did he reject it bluntly, it was already an ideal result.

Xia Jingxing looked at the materials on the table, then glanced at Paulson who was full of joy, feeling emotional in his heart.

To be honest, he really felt that Paulson was honest.

If it were him, he would never explain such details to investors.

But then again, Paulson doesn't feel like he has the mental load.

He was sure that the subprime mortgage crisis would happen, while Paulson only speculated.

It is not surprising that Paulson confided this to him. After all, he and the other party see things from different angles.

"Daren, let me ask you a question, if you get a satisfactory result from your analysis, how much can Vision Capital's fund of funds invest in "Credit Opportunity" at most?"

The short fund Paulson raised was called "Credit Opportunities."

Xia Jingxing looked at Paulson and said with a faint smile, "How much do you need?"

"My fund is going to raise $150 million."

When it came to the figure of "150 million", Paulson seemed less confident.

He took a look at the calm Xia Jingxing, and hurriedly added: "It would be the best if you can invest tens of millions of dollars in me, Dai Lun."

"I can invest up to 400 million U.S. dollars in you!"

Hearing Xia Jingxing's words, Paulson was immediately overjoyed.

"If there is $400 million, I can start investing immediately and don't look for other people to raise funds. Because time is precious, I am afraid of missing this opportunity."

Xia Jingxing waved his hand, "It's not a big problem, we will answer you as soon as possible."

The four of them exchanged for a while, and Paulson said goodbye and left amidst the gratitude.

"Jing Xing, where did we get the 400 million US dollars?"

Jiang Ping looked at Xia Jingxing with doubts in his eyes, "Our 3 billion US dollars are all planned, so it's not good to disrupt the plan."

"yes!"

Liu Hai frowned and said, "The Paulson Fund is not our vest, they charge 20% of the profits.

Even if Paulson has vision and can see the problems in the real estate market, he may not be able to do better than us in actual operation. "

"I have emphasized many times that all the funds cannot be concentrated in our hands, and some of them can be used to cover our actions.

At the same time, you can also compare with him to see who has created a higher rate of return. "

Jiang Ping looked at Xia Jingxing and said, "But where do we get 400 million US dollars to invest in him?"

"Mortgage the building under your feet, won't you have it?"

Xia Jingxing stomped his feet, the corners of his mouth slightly raised.

He has already calculated that if he buys the building and mortgages it, based on his friendship with the two major investment banks, he should be able to borrow about 400 million US dollars.

Investing this money in Paulson, with the ability of the other party, it is not difficult to earn several times the income a year.

Judging from the current situation, Paulson's need for money is very urgent. He can't delay any longer, and must complete the transaction of the building as soon as possible.

As for the $20 million he added to Ivanka's price, Paulson, a tool man, earned it back for him.

Paulson walked downstairs, looked at the towering 40th Wall Street, and shook his fist vigorously, feeling very excited.

Although Xia Jingxing didn't give him a specific answer, he could clearly feel that the other party had a strong investment intention.

As long as the fundraising problems that plagued him are solved, the sky and the sea will let him jump.

Paulson looked back at the building again, walked away with firm steps, and disappeared into the street.