The rise of a great power: starting with military industry

The Huo family seems to be prosperous, but in fact the hidden dangers are very obvious.

That is, among the children of Stanley Ho, none of them can compare to Stanley Ho, including the eldest son Stanley Ho, who is just average.

After the death of Henry Fok, the prestige and ability of Henry Fok will inevitably be challenged.

Even under the arrangement of Ho Ying-tung, Ho Chun-ting successively served as the president of the Hong Kong Football Association, Hong Kong legislator, president of the Hong Kong Sports Association and Olympic Committee, member of the International Olympic Committee, and other positions.

When it comes to the Huo family's external affairs, Huo Zhenting is responsible for most of the time.

However, Huo Zhenting is still not the number one person in Hong Kong. There are no less than ten people of similar age who are more prestigious than Huo Zhenting.

If the older generation is excluded, Huo Zhenting's own status, influence and prestige would not even be among the top 30 in Hong Kong.

More reliance is placed on the Huo family!
After Stanley Ho passes away, those who give face to the Ho family now may not be able to do so by then.

Even in mainland China, Ho Chun-ting's status is far inferior to that of Ho Ying-tung.

In recent years, Ho Ying-tung has been more inclined to train his eldest grandson, Ho Kit-seng, and has racked his brains and spent a lot of effort on Ho Kit-seng.

Even more, when Ho Ying-tung trained Ho Ka-tong, it was not in business but in politics to pave the way for his future.

This is also why Henry Fok personally selected an Olympic champion as the wife of his eldest grandson.

As a veteran who has been in the business world for decades, how could Ho Ying-tung not see the hidden dangers of the Ho family?

In the 80s, Ho Ying-tung more than tentatively proposed a marriage between the two families to Liu Tao, that Ho Kit-yung be engaged to Liu Tao's eldest daughter, or that his other granddaughter be engaged to Liu Tao's son.

But they were all rejected by Liu Tao.

By the 90s, the temptations became more frequent.

Later, Liu Tao had to make his attitude clear to Ho Ying-tung that he would not interfere with his children's freedom of marriage, nor would he sacrifice his children's marriage. If Ho Ying-tung's grandchildren were capable, he would support them. But as for engagement, marriage, etc., then there was no need to even think about it.

In fact, it's not that Ho Ying-tung didn't try hard. For example, Ho Kai-kong once sent flowers to Liu Ying-ching, but Liu Ying-ching just didn't like him. When Liu Jingming went to the United States, Ho Ying-tung's granddaughter went to the United States under the name of studying abroad, and then went to the same school as Liu Jingming. As a result, Liu Jingming didn't like Ho Ying-tung's granddaughter, but fell in love with Feng Nan, who was the same color as Ho Ying-tung's granddaughter.

I can only say that marriage is a magical thing. It’s not just about talent and beauty that a couple can really be attracted to each other.

new York.

As Buffett’s popular investment motto goes: Be fearful when others are greedy, and be greedy when others are fearful.

If this were to be performed as a play, John Paulson might be the best actor.

It is worth mentioning that the current US Treasury Secretary Henry Paulson has a similar name to him, but the two people do very different things.

What Paulson is doing is a fund that specializes in shorting mortgage bonds!
Before that, it was in cultivation.

What's worse is that there is an overwhelming amount of positive news about the housing market, with optimistic housing market experts and lenders constantly touting that house prices will continue to rise or that federal authorities will lower interest rates to maintain the market.

But John Paulson firmly believed that winter would come.

By then, no matter how prosperous the market is, it will wither away in the bone-chilling cold.

John Paulson was in a good mood because he had just received $30 billion in funds to manage and short mortgage bonds.

This shows that there are still people who share the same view as him.

John Paulson did not investigate the information of this fund because he knew that if he wanted to do well on Wall Street and live longer, it would be best not to investigate it in case he found out anything.

He only knew that if it went as he thought, he would be rewarded handsomely.

John Paulson was very confident about shorting mortgage bonds because the North American housing market had started to soar since 2001. In response to the bursting of the technology bubble and the market panic caused by terrorist attacks, Alan Greenspan, then head of the Federal Reserve, quickly lowered short-term interest rates from 6% to 1.75%, and then further lowered them to 1% in the next two years, which lasted until 2005.

Excessively low interest rates caused liquidity to overflow. The Case-Shiller index of 20 major cities in North America almost doubled in five years. From the year before last to last year, almost everyone was immersed in the bright market situation, and all financial institutions were engaged in subprime mortgages.

The market appears to be booming on the surface, but in reality it is facing great pressure.

John Paulson specializes in subprime mortgage products. Through the mathematical model he established, he found that the housing market does not need to fall. It only needs the annual growth rate to drop below 5% for the subprime mortgage default rate to rise sharply.

In fact, analysis of a large amount of data has shown that the default rate has now risen a lot.

This confirms John Paulson's point of view.

In fact, John Paulson didn't know that the $30 billion was not the only short position in mortgage bonds.

In fact, there are tens of billions of dollars in short selling.

In the U.S. stock market, there are also tens of billions of dollars of funds using leverage to short sell certain listed companies or sectors.

There are also tens of billions of dollars of short selling in South America, Europe, Japan, etc.

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The short sellers have received hundreds of billions of additional funds.

The subprime mortgage crisis and the financial crisis are both crises, but also opportunities.

Short selling also becomes more secretive.

A large part of them pass through offshore islands.

These offshore funds are difficult to trace.

There are hundreds of offshore islands controlled by Panshan Group.

This is a rare opportunity. Liu Tao hasn't had such an opportunity for many years. Now that he has encountered it, he will naturally not let it go.

And it just happens to be able to be used domestically.

After dealing with the affairs in Hong Kong, Liu Tao left Hong Kong.

Take a special plane directly from Hong Kong to Beijing.

He has to stay in the capital for a few days.

One reason is that the academician conference needs to be held and new academicians need to be elected. Both the Chinese Academy of Sciences and the Chinese Academy of Engineering need to hold academician conferences.

The second reason is the annual National Science and Technology Awards Conference.

Both of these major events required him to attend the meeting in person.

As early as December, there were a lot of reports about the election of new academicians, and there were also some controversies, and some people were very dissatisfied with being eliminated.

It’s almost the same every time there is an election of new academicians. There are always people who think they can be elected but in the end they are not.

As for the annual National Science and Technology Awards Conference, it goes without saying that it is the capital of China's science and technology field and it also rewards those and units that have made outstanding achievements.

Among them, the winners of the National Highest Science and Technology Award have extremely high exposure and are also lifelong honors, which is the highest recognition from the country.

Each of them has fought for the country all their lives, and some of them have been hiding their identities and unknown to the outside world. (End of this chapter)