After carefully collecting the key, Huang Xuan ordered Lorraine to call Aubrey and Dutoit. All this effort was spent on the drug formula that Guy handed over. According to Lorraine's analysis, the current state of technology is not difficult in terms of raw materials, just simple elements and organic matter. Similar to current pharmaceuticals, the finished product needs to be composed of various complex compounds with unique requirements on spatial conformation, such as rotation and chirality. There are mature or semi-mature methods for these. The real difficulty lies in the purity of the configuration. In comparison, the requirements seem to be higher.
According to Lorraine's information, there are currently only a handful of companies that can produce drugs with this purity, and unfortunately, none of them belong to China. While China was destroying the Four Olds, the United States had accumulated the largest amount of materials in the world, and Europe had completed its renaissance, also in 0 years. The so-called completion of expected goals ahead of schedule only shows that your expectations are too inaccurate - a bad plan itself is wrong.
Of course, for Huang Xuan, as long as there is a company that can manufacture, he is satisfied. He doesn't care which country it is. But when it comes to pharmaceutical companies, not only him, but the entire Huang family is not involved. If they really want to find it, There is some trouble.
If you can't do it yourself, ask professionals for help.
Huang Xuan, who has won half a percent of his mother's true love, immediately thought of Citigroup.
"Lorraine, help me find Aubrey and Dutoit."
"OK."
…
The banking consortium is the leader of the entire capital market. Whether in the United States or Europe, bankers are always the center of businessmen. Even businessmen like Ford and Rockefeller will not easily offend these financial giants - of course, in the big world In most cases, such businessmen already have their feet in the banking world.
In the United States, if you want to build a good relationship with the industry, the first step is to build a good relationship with the bank - the method is very simple, let the bank believe that you have money. Whether you have unnecessary loans or unnecessary deposits, they are both good tools for dealing with each other. Paying back the loan on time will increase the bank's credit evaluation of you. Borrowing and repaying loans are an excellent way to enhance friendship. This is the same as in The same principle applies to socializing with little girls in school. Borrowing a novel or taking the wrong textbook is a very old-fashioned method, but it is more effective.
Compared with Wal-Mart, the world's number one company, Citigroup is unusually strong. On Wall Street, the giants who remain standing always have their own unique methods, and such giants can be counted on one hand: Merrill Lynch, Citigroup, JP Morgan, Goldman Sachs, Bear Stearns, Chase Manhattan, Morgenstern profit. It is no exaggeration to say that these banking consortiums occupy the highest peak of the capital market and dominate all living beings. In the words of Mr. Marx, bankers are inherently demanding social average profits. The simplest explanation of this sentence is: Bankers are trying to use other people's money to make the profits that most people can make with minimal risk.
Aubrey and Dutoit are typical representatives of this kind of consortium.
After watching a movie, Dutoit arrived first and brought another tall white man with him. But Huang Xuan was looking forward to Citigroup more, so he had to ask them to wait for a while.
Dutoit sat down with understanding and introduced his colleagues through a translator, saying: "Mr. Huang, this is Dr. Kelly, a full-time asset manager at UBS Private Wealth Management Company. On the team list we have drawn up for you, Dr. Kelly is the second manager." As he spoke, he handed Huang Xuan a list.
"OK." Huang Xuan finished the list, said hello to Kelly again, and chatted casually. This is a British-style figure, with slightly dull eyes. He only becomes sharper when talking about the economic issues that he specializes in.
There are a total of 8 people on the list, 5 of them are preceded by Doctor, which looks very powerful at first glance. However, Huang Xuan does not have high expectations for the appreciation of his personal assets, and he also does not care much about this list. He folded it and put it in his breast pocket, sat across from Dutoit, picked up a few pieces of information at random, and said, "How are the recent futures deliveries?"
"It's going very well. It's more than half done."
"Very good." Huang Xuan nodded and said, "Where is Furnas Company? I read your plan, but to be honest, it's a bit complicated. If it's not troublesome, I hope you can explain it to me."
Of course it won't be troublesome. Dutoit looked to the side and said, "Dr. Kelly is very familiar with this. He completed the reorganization of Furnas Company."
"Well Well?"
Kelly pushed his eyes on the bridge of his nose, and took out a stack of information from his bag a little impatiently. He spoke quickly: "Well, I conducted an on-site inspection of Furnas Company. I think it has several problems that need to be solved." What needs to be solved urgently is... "
"Dr. Kelly." Huang Xuan had to interrupt him: "We don't have much time. I just want to know now whether this company has been reorganized according to my requirements?"
"Yes." Kelly should be in his thirties, but it seems that his social experience is still limited to communicating with his mentor. He stammered: "But I think this reorganization is wrong. Dividing a company into three departments that are not affiliated with each other will cause many problems, Professor Delny said in a tutorial... "
Huang Xuan breathed a long sigh of relief and could only raise one hand again and said with a stiff smile: "Dr. Kelly! Dr. Kelly?"
"Yes!"
"Tell me, have you restructured the company as I requested?"
"Yes. But..."
"OK." Huang Xuan signaled a pause and said, "That's enough." In front of the doctor, Huang Xuan felt that the ages of the two people were reversed.
Seeing that the atmosphere was a bit cold, Dutoit quickly interrupted and said: "Mr. Huang, actually there is one more thing this time."
"Oh?" Huang Xuan refilled a cup of coffee for him.
Dutoit took out a USB flash drive, put it on the table and said, "Do you know John V. Meriweather?"
Huang Xuan opened his arms slightly, "No."
"This is some information about his new company. Well, this is a genius investor."
While Dutoit was racking his brains for how to describe Meriwether, Aubrey walked in behind the butler and interjected: "A gifted loser too."
Compared with the small villa of Huang Xuan and his son in Sao Paulo, this house in Nanjing can be called "luxury". It not only has a large lawn that Europeans and Americans like, but also has its own back garden and Chinese-style pavilion. It looks like , Mr. Aubrey liked this arrangement very much.
He passed by the ivy corridor, followed Zhou Lian and looked around, but as soon as he entered the living room, he heard the name "Merryweather".
Huang Xuan stood up to greet him and said, "Coffee or tea?"
"Coffee, thank you." Aubrey walked in and sat down, but asked Dutoit: "You don't want to introduce Mr. Huang to JWM's fund, do you?"
"Do you think there's something wrong?"
"Of course." Aubrey said with a red face and a thick neck: "Merriweather almost lost the entire Wall Street two years ago. Today, a Swiss man said to my client that you should invest in JWM. I didn't listen. Wrong."
"There is nothing wrong with Meriweather's investment itself. It was just an accident."
"A $10 billion accident?" Aubrey said, shaking his head.
Kelly also joined the discussion, and the three people's English became increasingly garbled. Huang Xuan had given up understanding what they were saying, and instead leaned on the sofa and asked Lorraine, "What are they talking about."
"It should be Meriweather, the founder of Long-Term Capital Management (LTCM). About four years ago, his company could earn 5% annual profits, which was the most profitable among the entire Wall Street hedge funds. During his A team that included a former vice chairman of the Federal Reserve and a group of Nobel-winning economists raised $150 million and tripled it over the next two years."
"Did you lose money later?" Huang Xuan guessed while listening to the discussion between the three people.
"Yes, there are many reasons, but the biggest reason is that the financial leverage is too high. At most, they controlled US$100 billion in assets through various financial derivatives - all borrowed from banks, and these contracts were traded on Wall Street. Almost every bank spread out endless contracts, and the amount eventually involved reached an astronomical figure, about 1 trillion US dollars.”
"All losses?" Huang Xuan was surprised. 1 trillion is almost the total GDP that ranks among the top 10 in the world.
"Of course not everyone lost, it just involved 1 trillion US dollars, and the final loss was about 10 billion US dollars, but he scared Wall Street because this company involved the interests of almost everyone on Wall Street, with a total value of 1 trillion. If If the major banks had not joined forces at that time - which was rare on Wall Street - the maximum loss would have been close to 100 billion. "
Huang Xuan was still surprised, and Aubrey began to explain to him.
In fact, this is just a very American story. Of course, it really happened and is even stranger than the story.
John V. Meriweather's hedge fund had great prospects and would have become part of Wall Street legend. In the last period, people almost thought he was a legend. However, under the impact of Russia's debt crisis, Long-Term Capital Fund suffered losses. On the largest day, it lost $540 million, which shocked the entire Wall Street. In the last few days of the crisis, the net worth of Long-Term Capital Fund was only US$1 billion, but it managed US$100 billion in assets through financial leverage. As long as it lost 1%, the bank would forcefully liquidate its position. At that point At some point, a crisis may hit Wall Street. Eventually, major Wall Street banks, including the Federal Reserve, had to intervene in the company.
At the same time, when most Chinese people were still looking at Clinton's zipper and paying attention to Lewinsky's every word, a panic quietly occurred and ended quietly.
Today, Meriwether hopes to once again test his theory, or that of the other two partners, so he once again raises funds from major banks and other wealthy investors. When he found UBS, Dutoit It is believed that Huang Xuan is a person who is willing to take risks and pursue profits.
Regarding the arguments between the two parties, Huang Xuan did not comment, but asked Kelly: "Doctor, can you first explain to me what a hedge fund is?"
"Oh, of course." Kelly was still a little flustered and said: "Look, in fact, from the perspective of securities law, there is no such form or institution as a hedge fund. But from a practical point of view, hedge funds are actually Institutional investors formed in the form of limited partners are very risky. Legally speaking, the number of fund investors cannot be more than 99, and the investment amount of each person cannot be less than 1 million US dollars. If it is expanded, investors can increase it. to 500 people, but each person needs at least US$5 million.”
"But what does it do? I mean, what is a hedge?"
Kelly raised his glasses frame, calmed down, and said: "Well, the phrase hedge fund is derived from the phrase 'betting on the same person from both sides of winning and losing'. It mainly relies on betting on the opponent. To minimize the risk of speculation, simply put, sell overvalued stocks or futures or whatever, and then buy undervalued financial products at the same time.”
"Then how do you make money?"
"For example, if I sell $1 billion of light crude oil for delivery in August, and at the same time I buy $1 billion of light crude oil for delivery in January, then if the price of oil rises, as long as the increase in January is higher than that in August , I will make money, or if the decline in August is greater than that in January, I will also make money. In our words, we only care about the narrowing of the spread, and do not care about the actual rise or fall. This reduces the risk accordingly. , while using financial leverage to operate at more than 10 times the capital, the returns are also very high.”
Huang Xuan shrugged and asked casually: "Can you make money?"
"It's also very easy to lose money." Aubrey said: "Mr. Huang, if you are interested in investing in hedge funds, I can introduce you to many famous hedge fund managers, such as Mr. Soros. Meriweather is not a Good choice."
"There is nothing wrong with the model of Professor Merton and Professor Scholes. The failure was an accident." Kelly couldn't help but defend.
Huang Xuan asked: "Who are they?"
Kelly thought for a long time and didn't know how to explain it. Dutoit interrupted: "He is a Nobel Prize winner, economic prize."
It sounded like he was very powerful, but looking at Aub's flushed face, Huang Xuan smiled and said, "We can discuss this issue later. I came to you today because I actually need your help."
"Of course." A large number of customers are looking for help from the bank, and assistance other than business is one of the bank's services. Although this service is not written in its terms, it is obvious that it can help customers obtain more ways to make money and learn more. Banks are more popular among business people. In other words, the more powerful a company is, the more favored it is by wealthy people.
Huang Xuan smiled and said: "I want to invest in a medical research institution or biotechnology company. Well, I hope they have the ability to produce more advanced biological agents. What can I recommend?"
"Do you want to invest in the company or produce the medicine yourself?"
"I hope to be able to research and produce some drugs in small batches. Well, the quantity is very small. As for investment, it doesn't matter."
Aubrey shook his head apologetically and said: "You know, the U.S. government is not very supportive of China's..., well, high-tech industry." He obviously thought that Huang Xuan wanted to get involved in the medical industry, just like he was in the electric power industry. Just like what the industry does.
Of course it is not supported. Huang Xuan smiled, but he still understood the meaning. It was nothing more than a bad thing like an embargo.
Dutoit also shook his head and said: "Mr. Huang, investing in a high-tech company is a very sensitive matter..."
He was thinking about his words when Huang Xuan waved his hands repeatedly and said: "I have no intention of having this company have anything to do with China." He considered the words and said: "I am not interested in taking over a certain company either. I just hope to pass some Invest and get some medical help.”
"Your grandfather?" Dutoit responded quickly.
"Yes."
"Sorry about that. But government is always an embarrassment."
Huang Xuan pursed his lips and said it didn't matter, and then said: "I have no intention of challenging Washington, but, gentlemen, I just want to invest in a pharmaceutical company and get priority access to a small amount of pharmaceutical products. Is there any problem with this?"
Dutoit had to frown and said: "I'm sorry, but Mr. Huang, in fact, new drugs always invest in the market at the fastest speed. In this regard, being connected to a company will not be of much help."
"I think you didn't understand what I meant." Although Huang Xuan said this, his mind was busy, and he lied: "I have some formulas, I hope to use a better laboratory to produce them, and finally It’s good to get clinical trials.”
"Actually, we don't need to invest." Kelly said suddenly.
"Tell me about it." Huang Xuan was still in awe of the title of doctor. My father worked hard for so long, but in the end he was still upset because his mother failed to go abroad.
"In fact, pure sponsorship is easier for people to accept. If you only need medicine for one person, as long as there is enough sponsorship, I think there should be no problem."
Dutoit clapped his hands and said, "What a great idea. We were all a little dizzy just now."
Can you not faint after making such a noise? Huang Xuan smiled indifferently and said: "Which company?"
"Perhaps we can help you ask professionals how much money you are prepared to sponsor?"
"It's enough to make them faint." Huang Xuan stood up as he spoke. Both of them knew his habits. This ended today's conversation. (To be continued)