Reinventing the Millennium.

Chapter 932 Two and a Half Production Lines (4k)

On the first night when he arrived in Silicon Valley from New York, Kong Yu couldn't sleep because of tossing and turning.

The red wine is very expensive, the hotel is very luxurious, Mr. Fang is very kind, but he is not sleepy at all, instead his heart is full of various emotions.

This life of a person... is really hard to predict.

Kong Yu believes that if he writes a memoir, these few short years will surely be magnificent, such as Shanghai, New York, Washington, Paris, London... He has been to too many places, and he has also seen famous people in the financial circles all over the world. He also witnessed the last carnival and demise of institutions such as Lehman, Merrill Lynch, Bear Stearns, and Washington Mutual.

However, at this moment, the red wine in the glass was tasteless, and he was just extremely homesick.

Mr. Fang didn't restrict his freedom, and even if he wanted to, he could fly back to Shencheng by plane tonight.

However, Mr. Fang's will is the strongest restraint.

Without his approval, this position cannot be resigned.

Even, Kong Yu is sometimes very pessimistic. It is difficult to predict a person's life, and his final destination...is also difficult to predict.

He suspected that in the end he would either die as a guest...a guest of the Mississippi River, or a host of the Huangpu River.

Kong Yu put down the red wine glass in his hand and climbed back onto the bed, restraining his wild thoughts.

His greatest hope now is that he can stop the short-selling operations that have left his name in history for more than a year, and return to his hometown just by virtue of his status as the helm of a well-known Wall Street fund.

Maybe, maybe, it's really like Mr. Fang said, just stop after one more vote?
He hasn't paid attention to Greece recently, but there are rumors in the circle that Goldman Sachs' financial operations for Greece's entry into the European Union may be rooted here.

This time the financial crisis is global, and the turbulent changes in Europe are likely to bring more opportunities.

Kong Yu felt that Mr. Fang and Goldman Sachs had a vague connection or even a tacit understanding, or that the series of people in the NYE were the source of inside information. In short, what Mr. Fang said today was definitely not aimless.

But how much money does it take to be satisfied?
Kong Yu opened his eyes and looked at the ceiling. He knew that he was not in charge of the operation of all the funds of Mr. Fang, and he also noticed that the deputy around him was probably supervised by Mr. Fang in good faith, but he could have a vague judgment.

Paulson, the big short, made $120 billion by shorting CDOs last year, and he has more than $300 billion in funds. After deducting his personal share of $60 billion, one-third of the remaining $60 billion is own side.

This year, Paulson switched to shorting bank stocks, with an estimated profit of more than $80 billion, and he still has one-sixth of his own profit here.

In this way, the short-selling profits that can be delivered by the big short sellers are around 30 billion US dollars.

This is the operation from unknown to Wall Street star.

However, I am not bad either!

Thinking of this, Kong Yu suddenly sat up from the bed. Although he couldn't say it publicly, he was not bad at all!

Lehman, Fanfang, bank stocks, and Qimonda's small short-selling with ulterior motives are not counted... From last year to this year, the profit of these short-sellers who stepped on the wind has exceeded 60 billion US dollars, which is enough to put all the microphones on Wall Street to their mouths. , Enough to make many customers flock to it!

Considering Mr. Fang’s other arrangements, Kong Yu estimates that the profit on paper from 07 to this year is more than [-] billion U.S. dollars, and after removing the money distributed to customers, various nesting and penetration, there should be some Large billions of dollars of liquidity.

Therefore, today he mustered up the courage to speak out the advice of "enough money". These are all liquid funds. Rich customers with hundreds of millions of net worth in the fund have only tens of millions of liquid funds that they can take out.

Kong Yu lay down helplessly after a short period of chicken blood.

What Mr. Fang said is not unreasonable - what is enough?
Kong Yu can understand Mr. Fang.

As a tool of the boss, he has to try to figure out the boss's mind from time to time, and Mr. Fang is most willing to spend money on the ice core in his hand.

When Kong Yu was invited by the FBI to drink tea, he was just looking through the global semiconductor information carefully. Today's ice core has a 65nm process production line, and the investment cost of a 45nm production line in the next step is more than 30 billion US dollars.

After working hard for more than a year, I can build two and a half production lines with the money I get?
All the magnificence comes back to reality and only 2 and a half production lines?
Thinking of this, Kong Yu became a little depressed again, when did this f*cking happen!
This is still 45nm. With the upgrading of the process, the investment in 32/28 may have to be doubled in the future, and it is even more exaggerated to make progress in the future... When will this be a head!
Kong Yu tossed and turned, and suddenly turned his head to look, it was dawn.

He rubbed his face, trying to lull himself to sleep.

It took more than a year of hard work to build 2 and a half production lines!
I'm so capable!

……

On the afternoon of the second day after arriving in Silicon Valley, Kong Yu, who had a disturbed schedule, met Mr. Fang in the R&D center and found that he was reading the work report he had submitted.

"Sit down, Xiao Liu, and pour tea for Mr. Kong."

Kong Yu took the tea from Liu Zonghong, took a sip and drank it was the top Biluochun, which was his favorite tea.

He tasted silently for a while, waiting for Mr. Fang's voice.

"I asked again about what happened yesterday, and it was confirmed that it was Goldman Sachs' problem." Fang Zhuo spoke at a leisurely pace, "This investigation started earlier than we thought, it started last year, and even Dabao was asked to testify , to explain what role Goldman Sachs played in triggering the subprime mortgage crisis.”

"The scope of the investigation is very broad, from the various stages of mortgage securitization, to the institutions that bundled and packaged, and the banks that ultimately held the securities. They are all included in the investigation."

"In addition to large financial institutions such as Goldman Sachs and JPMorgan, various rating agencies such as Moody's, Standard & Poor's, and Fitch International have all been investigated."

"However, such a broad investigation is not a big problem. Executives of many organizations have similar situations where they have been asked for assistance."

"It's our old friend. Deutsche Bank is probably being seriously targeted."

Fang Zhuo has been trying to figure out what happened since yesterday's accident, and he probably really understood the process. The unconventional operations of large financial institutions are the focus of this investigation. Goldman Sachs' behavior of packaging CDOs in its own name is obviously taken care of up.

"Deutsche Bank sold US$142 billion of MBS securities to Fanfang and Freddie last year. This time it is really in trouble."

When Kong Yu heard Mr. Fang say even the exact figures, he couldn't help asking: "Will Deutsche Bank be caught?"

"Whether it is light or heavy, there must be an explanation." Fang Zhuo shrugged, "As for who is light and who is heavy, let's see."

Kong Yu asked again: "Where is Xiao Bao?"

"He won't have any problems." Fang Zhuo is very sure, "Yesterday besides us, there were other people who were helping to say hello, probably his other clients. After all, what we do is within the process, not like us .”

Shorting is legal, but making money in a crisis can easily lead to other problems.

Regardless of whether it is Yike's market in the United States or the review of ice cores, these are areas that need attention.

Therefore, customers such as Jermaine O's family foundation, Geithner's small coffers, Summers' pocket money, and the Golf Friendship Club also have their due share.

Now, the investigation of the MIGA Fund here is over, and Mr. Kong can fly around happily again.

"President Fang..." Kong Yu said hesitantly.

Fang Zhuo waved his hand, and secretary Liu Zonghong left the office knowingly.

Kong Yu continued: "If necessary, I also know the situation of some short sellers."

Fang Zhuo frowned, you are a bit out of order.

He thought for a while, and suddenly asked: "In the past two years, there should not be many short-selling institutions?"

"Not many, like CDS, in the United States, more than 3000 hedge funds and thousands of other investment institutions have the license to invest in CDS, but there are only about 100 companies that are really willing to get involved in CDS." Kong Yu is the market situation Knowing it well, "Most of these 100 companies are still for hedging the real estate in their hands."

He continued: "There may not be more than 20 companies that really bet on the collapse of the real estate market. After all, their opponents are essentially a huge machine mixed with administration, banks, the Federal Reserve, and rating agencies."

Kong Yu commented calmly: "The process of short selling and betting against each other is still very tormenting."

Fang Zhuo nodded, he believed that this was the deepest feeling of President Kong.

Kong Yu said again at this time: "However, at the end of the torment, there are two production lines."

Fang Zhuo was startled, he didn't expect to talk about this.

He glanced at Guang Guangtou, and said with a smile, "What's more? The function of funds is to activate more funds, to provide support at critical moments, and to mop up bargain hunters. These functions are immeasurable, so, Mr. Kong, I It seems that you should go to Bingxin to be an independent director, without you, I don't have the confidence to toss about semiconductors."

Even though Kong Yu knew that Fang was always being courteous, it was still somewhat helpful.

He drank two sips of tea and asked his doubts: "I know that ice cores are developing rapidly, and I know that more investment is needed in the future, but when will this end?"

Fang Zhuo wasn't sure if the gasoline man wanted to beg for bones again, or if he really had doubts about the development of the ice core.

"Ice Core's operation is actually relatively healthy, and the positive effect brought by 65nm is great. Although it is also affected by the crisis this time, it is okay. After all, our own mobile phone chips eat up part of the production capacity, and there is no Yike Mars. If it’s a hot sale, it will probably be more difficult.”

"Yike and Ice Core are in a positive cycle, and the further this cycle goes, the more it can form its own system."

Fang Zhuo explained patiently: "As for when you said it will be a head, according to our estimation by Dr. Bing Xinliang, although the 45nm process upgrade is also very revolutionary, because the high-K metal gate transistor composed of new materials is used. , but the bigger stage is still 28nm."

"It's already November, and Dr. Liang said that in almost 11 years, we can see the hope of competing with Tai Ji."

Kong Yu thought to himself, this is not a trick, Mr. Fang, you yourself said it was staged...

But he didn't continue to ask, the boss had already patiently said so much to himself.

Kong Yu took a deep breath and said seriously: "President Fang, the impact of the financial crisis on Europe is indeed profitable, and I am also very interested in continuing the work, but when Europe is over, I really want to Spending time with my family, I have been busy with work all these years, and I always feel that I owe them a lot."

Fang Zhuo didn't hold back this time, and simply said, "Okay."

Kong Yu: "..."

What's the fat thing?

Feeling scared all of a sudden?

Is it the Mississippi River or the Huangpu River?

Kong Yu swallowed unconsciously, the boss promised too simply, which is not quite right.

He hurriedly lowered his head to drink tea, and then asked, "Then who is in charge of the MIGA fund?"

"We'll talk about it when the time comes. Are you right? I really need to spend more time with my family." Fang Zhuo also really considered Kong Guangtou's mental health and family life, and he was not the kind of person who stole money.

Kong Yu's heartbeat accelerated.

He drank the remaining half cup of tea, thinking left and right: "Mr. Fang, I will first participate in the disposal of toxic assets in the United States, and then think about the work in detail. The clients of MIGA Fund It is very important, and this cannot be neglected.”

Fang Zhuo glanced at Mr. Kong in surprise.

"Funds are still responsible for their clients after all, and put their needs first." Kong Yu is very serious.

Fang Zhuo nodded slowly, he saw the right person, Mr. Kong put the courage to carry gasoline on work, what career can't be done well?
He said sympathetically to his subordinates: "Mr. Kong, you should rest for two days. The night after tomorrow, there will be a banquet held by Xiao Ao in Silicon Valley and high-tech companies. Then we will meet our big customers together."

Kong Yu nodded energetically, and Xiao Ao has truly been promoted to the fund's first client.

He got up to say goodbye.

"Oh yes, give me a list of the short-selling institutions you mentioned just now." Fang Zhuo remembered this, "Nokia's case against us is about to start."

Kong Yu knew Mr. Fang's plan of defense and counterattack in Yike, he nodded, and suddenly asked: "Mr. Fang, we have two or three short-selling institutions as partners... Do you want to list them?"

"Is the shorting over?" Fang Zhuo asked.

Kong Yu nodded, it was basically over.

"Then they are no longer partners." Fang Zhuo said flatly.

Kong Yu inhaled lightly, Boss, you are really not a good person.

He agreed: "Okay, Mr. Fang, I will give you the list tonight."

Fang Zhuo waved his hand and ended the interview with Mr. Kong.

Mr. Kong's mental state may really need to be paid attention to, and he always feels a little fluctuating.

Yesterday's investigation probably really frightened him. I hope that meeting all the big customers can soothe his heart and let him go into battle with vigor again.

It stands to reason that the big customers are on the top, and it is okay for everyone to eat and eat together for a small amount of money in the past few years.

Fang Zhuo poured himself a cup of tea, picked up the work report submitted by Mr. Kong again, glanced at it and picked up another independent report.

It says the speculation of this short market in English, besides the active John Paulson, there seems to be a big ferocious fish wandering in the dark.

The big fish is unidentified because of John Paulson's analysis at a party, he is called the big bear X of the century.

Some people wondered whether X really existed, thinking it was just Paulson's obfuscation.

Some people firmly believe that such a person or institution or even several institutions do exist.

Others believe that the big short X of the century is Paulson. Paulson is still playing with huge amounts of funds in secret.

(End of this chapter)