The trading here is carried out 24 hours a day, so after watching for a while, Yang Jing returned to his room with satisfaction. Henry, David and Cesar also followed him in.
Yang Jing personally poured a glass of champagne for everyone, then raised his glass and said with a smile: "Come on, let's toast to our glory!"
"Cheers to our glory!" the three men raised their glasses and said in unison.
The result of this investment or speculation was very brilliant. After the three major market trends were launched respectively, the three major investment institutions under the name of the Dragon Fund have made huge profits in these three market trends.
Just in terms of international gold and international crude oil futures, the profits of the Dragon Fund have exceeded the market value of General Electric!
Although the global financial crisis caused by the subprime mortgage crisis has not yet reached its climax, the KY Investment Fund, disguised as international hot money, has made a profit of more than 200 billion US dollars just from shorting US subprime mortgages and the US stock market!
Their speculative action this time can definitely be called brilliant.
After taking a sip of wine, Henry smiled and said, "It's a pity that the outside world is amazed by John Paulson's profits. They never know that compared to us, John Paulson's Paulson Fund's profits are only a small part."
Cesar also laughed and said, "Don't forget, we are international hot money."
This sentence made everyone present laugh, even David, who was usually serious, laughed heartily.
Not to mention the profits in the international gold and international crude oil futures markets, just the short selling of US subprime mortgages and the US stock market has made KY Investment Fund's profits exceed the US stock market crash in 1987, and this is just the beginning.
The subprime mortgage crisis in the United States has begun to detonate the global financial market. A global financial crisis is inevitable. This is the battlefield for KY Investment Fund and Pacific Capital to gain greater profits in the future.
"You and those little guys did a great job, and we have a John Paulson in front of us to attract outside attention. We will be safer this time." Yang Jing said with a smile.
Yang Jing was not making this up. It was actually extremely dangerous to try to make money from a national disaster in the United States. When the U.S. stock market crashed, the U.S. government arrested many people who made money from a national disaster. If KY Investment Fund had not "actively" stepped forward to support the market and repurchased a large number of stocks, Henry might have been invited to have tea by the U.S. government.
The same is true for the current subprime mortgage crisis. However, compared with the stock market crash 20 years ago, the financial regulation in the United States has become more relaxed at this time. John Paulson, who was later known as the "God of Short Selling", happened to be at the forefront. Therefore, the KY Investment Fund was like a fish in water during the subprime mortgage crisis.
From the mid-to-late 1990s to the first decade of the new century, there were two famous "Paulsons" on Wall Street. One was Henry Paulson, the former chairman and CEO of Goldman Sachs and the US Treasury Secretary in 2006. The other was John Paulson, who made a fortune by shorting subprime mortgages during the subprime mortgage crisis and was later hailed as the "God of Short Selling."
Before the subprime mortgage crisis broke out, John Paulson was not well-known on Wall Street until he met his old friend Paul Pellegrini in 2004. The two guys with the same bad taste saw the huge bubble in the US real estate market and decisively shorted subprime mortgages. In the end, he placed a heavy bet of 25 billion US dollars in the US real estate market to short US subprime mortgages. Then, in more than a year, the 25 billion US dollars turned into 45 billion US dollars, with a direct profit of up to 20 billion US dollars.
John Paulson was also hailed as the "God of Short Selling" because of this short selling.
In fact, John Paulson's success is inseparable from Paul Pellegrini.
Paolo Pellegrini was born in Italy and came to Wall Street in the 1980s. He worked as a mid-level investor at Lazard Brothers and tried several venture capital investments. It was also at that time that he met John Paulson, who was working at Bear Stearns.
In that era, the two of them were just two small shrimps on Wall Street.
Unlike John Paulson who had a smooth career, Pellegrini worked as a broker in several different jobs after leaving Zarad Brothers, but none of them were successful, and his two marriages also ended in failure.
Even before he met John Paulson again in 2004, the guy was unemployed.
However, after years of experience in the workplace, Pellegrini has developed outstanding financial analysis skills, which has created his unique investment thinking. He is no longer constrained by the rules and regulations of the Wall Street financial system, and no longer relies entirely on credit ratings and ratings from rating agencies. Instead, he collects massive amounts of financial information and conducts his own comprehensive analysis, and uses this as the basis for investment decisions.
When the two met again, John Paulson was not having a very comfortable life.
After four years at Bear Stearns, Paulson decided to switch from investment banking to fund management and joined Gross Partners as a partner, officially starting his fund management career. In 1994, he saw the momentum of hedge funds and rented an office with several other small hedge funds to establish the Paulson Hedge Fund, specializing in merger arbitrage and event-driven investment.
In those years, Paulson lived a pretty good life, especially at the beginning of the new century. Paulson saw the huge bubble hidden in the Internet and decisively began to short the Internet. This allowed his Paulson Fund to make profits of more than 5% each year in the first two years of the new century, and the size of his fund also increased to US$600 million.
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