Chapter 438: Wrong Status (5115)
After saying Jiang Nanzhen's name, Robert Capito seemed casual, but in fact he was concentrating on observing Larry Fink's reaction.
It is true that he was "captured" by Jiang Nanzhen, but he did not become an idiot.
The reason why he was able to promise Jiang Nanzhen to join the Executive Committee must be that it was feasible, otherwise he would not have made such a promise.
This operability comes from Larry Fink and BlackRock's emphasis on ESG and DEI.
ESG is BlackRock’s most important strategic direction at present, no doubt about it.
The Alcatraz and Newport office incidents not only failed to dissuade BlackRock from pushing ESG, but instead strengthened their determination.
Because anti-fur consciousness is rising again in the entire Western society.
Since the outbreak of the Alcatraz incident, "their" influence in the media field has suffered a severe blow. Whether on the Internet or in traditional media, the bad things about Israel and "them" are more than a hundred times more than before.
People's views on everything are actually guided and instilled. As such remarks become more common, the gender narrative, orientation narrative, and skin color narrative, which had been guided by them and gradually became the main contradictions in the West, began to recede, and the public's attention returned to "them".
Both Robert Capito and Larry Fink clearly realized that the risks for the Jude people in today's Miami are becoming increasingly greater.
Over the past few decades, the Jude people have invested almost all their chips in the Mai country and have not yet found the next target to parasitize. If the anti-Jude sentiment in the Mai country becomes stronger, the possibility of a repeat of the tragedy of 70 years ago is small, but not impossible.
For now, in addition to planning the next parasitic target and using all our strength to block the spread of harmful information, using ESG to divert people's attention is more important than before Alcatraz.
This also became an innate advantage for Jiang Nanzhen to join the BlackRock Executive Committee.
Sure enough, when Larry Fink heard Robert Capito say this, he immediately figured out Capito's intention.
"Jane?" Larry Fink nodded in satisfaction. "We do need to further increase our investment in DEI. However, this woman from Da Zhou doesn't seem to have a strong background or abilities. Wouldn't it be more appropriate for us to find an African-American to take this position?"
Robert Capito's eyes flashed. "You're right, Larry. However, the reason I suggested that Jane join the Executive Committee wasn't just for the promotion of DEI."
"Do you remember that fund company called 404? I proposed acquiring them at the last Executive Committee meeting. This is the cumulative rate of return for the first fifty days of their second phase, Fund No. 4. You can take a look."
Larry Fink took the pad from Robert Capito, and there was an open PPT on the screen.
"293%!?"
Seeing the numbers on the PPT, Larry Fink sat up straight and pushed up his glasses.
Are you kidding me?
What they are doing is short-term arbitrage, not quantitative trading.
How could short-term arbitrage possibly yield such high returns? Besides, there haven't been many good investment opportunities in the secondary market in the past two months, right?
"Bennett analyzed their arbitrage model, which actually focused on identifying risk factors."
"Preferring to make less profit to ensure no loss is the core of their trading model."
"In other words, their Woking system can basically identify almost all risks in the current market."
Robert Capito rested his hands on his thighs and spoke calmly, "Basically, we can now confirm that the AI-based Woking system has a much higher risk factor recognition accuracy than Aladdin, and its recognition accuracy is more than double that of Barra and Axioma."
Barra and Axioma are considered Aladdin's competitors in the field of risk control, and their performance is actually far superior to Aladdin's risk module.
But the Woking system is actually stronger than Barra and Axioma!
And it is so strong that it is far ahead!
"404 relies on the Woking system's advantages in risk identification to conduct short-term trading. While the profit from each trade may not be the highest, due to excellent risk control, we have reduced losing trades by over 70%, resulting in stable profits."
"The way they're using it is undoubtedly a waste of resources. This system can play a greater role in both quantitative and index investing!"
"The advantage of AI lies in its continuous evolution and learning. Perhaps due to a lack of high-quality training data, their Woking system currently does not support index investing and passive investing, but this is precisely our strength. No institution in the world has a more powerful trading database than BlackRock."
"In fact, we are not the only one interested in them. As far as I know, Morgan Stanley, Vanguard and UBS are also very interested in their trading strategies. At the same time, several other asset management companies are also in contact with them."
"It's not that easy to successfully acquire 404."
Robert Capito's eyes sparkled. "Jane is one of the developers of the Woking system and previously worked at 404."
Capito did not draw any conclusions, but laid out all the conditions and let Larry Fink analyze it himself.
Larry Fink's brows were twisted into a knot, and he flipped through the PPT several times.
The rise of AI has triggered a new and largest arms race in the financial industry.
Since the advent of computers, Wall Street has been one of the largest consumers of computers.
Whether it is the earliest trading automation, or the later flash trading and high-frequency trading, to the current quantitative and passive trading, every time a new trading method comes out, Wall Street giants will wave their checkbooks and spend a lot of money to update their equipment.
Wall Street has long been accustomed to this kind of investment.
But the AI revolution is still the largest arms investment in Wall Street's history, far exceeding the supercomputing investment during the quantitative high-frequency transformation period ten years ago.
As one of the three cornerstone funds in the global financial industry, BlackRock naturally invests more in this area.
In the first half of the year alone, BlackRock spent more than $1.5 billion on AI innovation, and was negotiating several acquisitions totaling nearly $5 billion.
Even with so much hot money invested, it may not be successful.
Now, as long as it acquires this small fund company, it will not have to make all the previous investment preparations. At most, it will make some protective acquisitions. BlackRock will be able to complete the AIization of the system before all its competitors!
Larry Fink reviewed the PowerPoint presentation several times before his frown gradually relaxed. He smiled at Capito, "You old fellow still have a keen sense of smell. Rebuilding Aladdin with the Woking system at its core will indeed help us maintain our long-term competitiveness."
Larry Fink drummed his fingers on the table. "In that case, let's confront Bob as soon as possible."
"However, you still have to comfort him afterwards. After all, we just want to train him, not destroy him."
Robert Capito's eyes flashed and he smiled without saying a word.
Jane, I will definitely do what I promised you.
——
"This whole thing has nothing to do with anyone else. I was the one who pressured the approval team to omit risk items so that management could approve it as quickly as possible. I should take full responsibility and am willing to accept the punishment imposed by the company."
To Larry Fink's surprise, as soon as he mentioned Chihiro's 3 billion US dollars loss, Goldstein calmly admitted his fault and fully accepted the punishment he had just announced.
"Ahem, actually I..." Robert Capito coughed and was about to speak when he was interrupted by Goldstein.
"The President's Office once raised this risk, but after discussing it with Luna, I downplayed it. Therefore, I am indeed the person most responsible for this matter."
When Larry Fink heard this, he immediately realized it.
Goldstein is helping Robert Capito avoid responsibility.
In order to make the old man Capito not responsible at all, Goldstein actually took all the blame?
Larry Fink couldn't help but glance at Robert Capito.
This old bald man has accepted a good disciple who is so loyal to him.
However, it seems that Goldstein may have misunderstood something.
"Well, I don't need to say anything else. Isril is very important to us. I believe that with your ability, you will be able to expand our business in Isril. You can discuss the rest with Rob."
Larry Fink took a sip of his coffee.
Goldstein stood up expressionlessly, glanced at Robert Capito, and turned to leave Larry Fink's office.
——
"Larry didn't mean anything against you," Robert Capito said in a low voice, looking at his proud student with a dejected face. "Don't worry, after going to Israel, you will be able to return to Miami in two years at most."
Goldstein was silent for a moment. "Boss, I want to ask, who will take my place? How will the Executive Committee seats be arranged later?"
Capito's eyes flickered. "The COO position will be temporarily eliminated. As for the Executive Committee seat, given the strategic importance of DEI, Larry and I have discussed it and decided to include Jane, the Director of DEI Development, on the Executive Committee."
Goldstein shuddered.
"I object! There must be something wrong with this woman. She cannot be allowed to join the Executive Committee!" Goldstein stood up suddenly, shocked and angry.
"Do you know that this bitch actually framed me in my office?"
After saying this, Goldstein suddenly felt something was wrong.
Could it be that... the fleeting suspicion I had before was true?
"Boss, don't believe anything this woman says. She's just a show..."
Bang!
"Enough!" Robert Capito slammed the table hard. When Goldstein looked up, he saw hatred flashing in Robert Capito's eyes, which scared Goldstein. But when he looked carefully, there seemed to be nothing.
"Your prejudice has blinded you!" Capito shouted angrily. "From the Chihiro incident, don't you realize how important the Woking system is to us?"
“If the Woking system is obtained by other companies, can you ensure that we can also develop an AI model with the same performance?”
"If Jane isn't allowed to join the Executive Committee, who will serve as a bridge of communication between the Executive Committee and 404? Are you an idiot?"
"Look at what you've been doing lately! Despite being repeatedly warned of the risks, you still make this mistake! It's fine if you want to suppress Youzi Technology, and it's fine if you want to invest in Qianxun. Your arrogance is the problem!"
"Your arrogance has not only made you lose your humility, but also your judgment!"
"Three billion dollars! Three billion dollars! You still think it's not a big deal? Don't you know that thirty years ago, Larry and I were kicked out of First Boston for a mere loss of one hundred million dollars?"
"This is BlackRock's largest single investment loss in history! Even if this investment was a joint decision made by 'us', do you think it won't become your Achilles' heel in the future?"
"Look at your expression when you heard you were going to Isril! Do you think I'm harming you by asking you to go to Isril? The three elder rabbis, Isaac, Milam, and Esther, are all in Isril. Don't you understand why I'm asking you to go there?"
"This is to help you build a good relationship with them!"
"I just had cancer surgery last year, and I don't know how much longer I can hold on! If something happens to me, only with their support can you overcome the negative impact of this huge loss and successfully take over BlackRock after Larry!"
"You really disappoint me!"
Robert Capito's chest heaved, and he was obviously very angry.
Goldstein was speechless. When he suddenly realized what had happened, he felt a huge sense of guilt.
BlackRock is a very typical example of Jude Capital. On the surface, Larry Fink and Robert Capito control the entire company, but in fact they are just spokespersons for Jude Capital.
The elders of the Temple of Jude undoubtedly have a huge influence on Jude Capital.
It is so huge that it can even influence the selection of senior executives at BlackRock.
The three elders just mentioned by Robert Capito are the three most influential people in Jude Capital.
If we can get their support, it will undoubtedly be of great help to Goldstein's future development.
"Sorry... Boss... I, I..." Goldstein lowered his head in shame.
Thinking about how I was just suspecting that Teacher Capito was suppressing me because of that woman, and I was feeling sorry for myself because I thought I had taken the blame for the teacher, I didn't expect that the teacher actually thought so far ahead for me.
"I understand, boss." Goldstein raised his head, his eyes slightly red, and his expression firm. "I won't let you down."
After saying that, Goldstein bowed deeply to Robert Capito, strode out of Capito's office.
As soon as he walked out of Capito's office, Goldstein took out the satellite phone and pressed the dial button.
"Fishing Cat, act according to the plan." Goldstein whispered to the person on the other end of the satellite phone with a grim look on his face.
Damn Chihiro! Damn Robert! If it weren't for you, I wouldn't have suffered such a huge loss!
Since the money is not in your hands, there is no point in keeping it.
I want everyone to see that BlackRock’s money is not so easy to cheat!
If you take what's mine, I'll make you spit it out!
——
New pickaxe.
"Very good, Grandpa, you have mastered the trick of cultivation. Don't be disturbed by these noises. Maintain the rhythm of breathing. Persevere a little longer. The longer you persist, the better the effect."
"By the way, the health department should have the results of the tranquilizing oral solution I brought last time after testing. Drink a bottle after each practice session. It should effectively relieve headaches."
Still in the heavily guarded small building, Fang Yu and Chen Shi'an sat opposite each other, assuming a meditation posture, while a piece of "Dingjun Mountain" was playing on the record player in the corner.
Fang Yu's dozens of mental power lines, like steel ropes tightly wrapped around a hemp core, firmly wrapped around Chen Shi'an's mental power lines, acting as interfaces connecting the nodes of the magic network.
Soon, beads of sweat appeared on Chen Shi'an's forehead.
"Hmm~" Chen Shian's eyes went dark, and the line of mental power and the magic network node were automatically disconnected.
This was the third time he had practiced the breathing method taught to him by his grandson. Every time after practicing, his head would hurt as if it were splitting open, but as long as he took a good sleep, he would wake up refreshed and full of energy.
Ever since he tested this method on Liu Feifei, Fang Yu has been using the banner of teaching Qigong to have all his relatives start "practicing".
It can not only help your loved ones achieve extraordinary things, but also speed up the growth of your own mental strength. Why not do it?
So far, in addition to my uncle Chen Xi, even my little cousin Yi Yi has been able to successfully connect to the magic network node.
As for Chen Xi, it was purely because he was lazy.
In addition, seeing that Zhang Yalan had mastered the technique but there was no change, Chen Xi had even less motivation.
Fang Yu reminded Chen Xi several times, but seeing that Chen Xi didn't take it seriously, he stopped talking.
When your aunt-in-law becomes extraordinary and can drain you dry in one go, you will regret it.
Unfortunately, none of them could construct their own spell model, so they were unable to cast spells.
After all, everyone's spell models are different, and Fang Yu can't take over and help them build them.
Unless they learn Python themselves.
Fang Yu stood behind Chen Shian, and gave Chen Shian a head massage with her ten fingers in a special rhythm.
Threads of magic power flowed from Fang Yu's fingers into Chen Shi'an's sea of consciousness, soothing his brain nerves that were twitching due to excessive mental overdraft.
And Chen Shian gradually fell into a deep sleep under Fang Yu's massage.
Seeing that Chen Shi'an had fallen into a deep sleep, Fang Yu tiptoed to pack up his things. When he was about to leave, he felt the Eseran core in his sea of consciousness suddenly move.
Huh? This ball wants to find me? That's really rare.
Generally speaking, if I don't set tasks for Youzi, he will basically just muddle through, indulge in watching TV series, and basically won't contact me on his own initiative.
Fang Yu didn't think much about it, and communicated with the Eseran Core to connect with Yuzi.
"Master! Master! Something bad has happened!"
Yuzu's panicked cry came from the Etheron Core.
"Uncle Wang, grandpa's asleep. Oh, it's okay. He should wake up soon. I'll leave first." Fang Yu went downstairs and said hello to Chen Shi'an's personal secretary. Then he replied to Yuzu in the Esseron Core, "What's wrong?"
"Ling'er... Ling'er... her condition is not right." Youzi said in panic and hesitantly.
Liu Feifei?
Fang Yu was stunned. What was wrong?
And Liu Feifei is not in good condition, how did you know?
(End of this chapter)
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