Rebirth capital madman - Chapter 1161

The general pattern of the operation of the capital circle is one “layer” on top of another. The latest and highest “layer” in this period is financial derivatives including stock index futures. The following are stocks, bonds, and futures. And so on, and the current Hong Kong, under the promotion of Sir Gao of the Hong Kong Monetary Authority, is seizing the unique opportunity of the times, consolidating the traditional “layer” and developing the new “layer”.

Taking Gao Xian’s chaos into time and space as the dividing line, banks and stocks are the “traditional layer” of Heung Kong; futures are the “contemporary layer” that Gao Xian founded and developed the Heung Kong Futures Exchange; and Gao Xian also participated, with Hang Seng Index Futures The financial derivatives represented by covered warrants belong to the “emerging layer”.

The Hong Kong stock market crashed in 1973, the Hong Kong stock market crashed in 1981, the Hong Kong stock market crashed in 1987, the Hong Kong banking crisis in the 1980s, the Hong Kong dollar crisis in 1982… He has been deeply involved again and again, so that no one can deny that even the “traditional layer” of Hong Kong such as banks and stocks can develop to the current situation, and his great contribution is absolutely indispensable; as for the “emerging layer”, it is even more so. Not to mention.

For example, there is a broad consensus in the outside world for the vigorous innovation of the Hong Kong securities industry led by Gao Xian, aiming to develop and expand the entire market, and the prospects are optimistic, because the battle-hardened President of Hong Kong Monetary Authority, Sir Gao, has rich governance experience. , especially holding a “trump card” – ample balance of the Exchange Fund.

Anyone who knows the business understands the energy of the free funds that can be mobilized at any time by tens of billions of dollars!

This batch of ammunition is placed in the cannon of the Hong Kong Monetary Authority, which is the central bank of Hong Kong. Through the actual bank reserves, central bank bills and other mechanisms, the power is multiplied. In case any link in the reform process goes wrong, It is enough to kill the cancerous tumor easily as the cost of trial and error.

In fact, the participants of the Hong Kong International Financial Leaders Investment Summit were also extremely interested in the securities industry, which accounted for the largest part of the exhibition of the work results of the Hong Kong Monetary Authority.

After receiving this feedback, Gao Xian, who only briefly and concisely said a few words in the previous welcome speech, made a slight adjustment in his speech at the summit to highlight the securities industry of Heung Kong.

To sum up the long discussion, Xiangjiang, an international financial center, provides the most free and open poker table, and the rake ratio is low enough. Welcome everyone to play!

Sir Gao’s status as the president of the Hong Kong Monetary Authority, especially the one that knows each other well, is placed on the table dignifiedly. There is no doubt about his natural authority. As long as he does not fall, the rules of the field are like this. !

However, Gao Xian still sat down with the top leaders of Wall Street and held a small closed-door meeting. The number of people could be counted with ten fingers, including Morgan Stanley, which was immediately thought of. Chief executive Richard Fisher, JP Morgan CEO Dennis Weatherstone, Chase Manhattan CEO Willard Butcher, Goldman Sachs chairman of the board of management John Weinberg and other big names.

The seating arrangement in the conference room is quite particular. There is a large round table surrounded by a circle of chairs. There is no clear priority for sitting in the center. It seems to convey a meaning. Sir Gao did not sit in his official position as the president of the Hong Kong Monetary Authority. Here, but in the name of a private person.

In fact, even if the round table meeting is “round”, the seating arrangement still implies some doorways.

For example, sitting next to Sir High is Chase Manhattan CEO Willard Butcher, reflecting the continuing connection between the Ko Yi family and Chase Manhattan, and High Strings and David Rockefeller.

The person next to Willard Butcher is John Weinberg, chairman of the Goldman Sachs Management Committee, and there is also an argument, even including, that there are some common ideas between John Weinberg and Goldman Sachs.

The subtleties here are still necessary to be briefly mentioned. After all, there is a taste of different ways.

As the representative of family power in Goldman Sachs, John Weinberg still adheres to some traditions. For example, he only plays the role of the “white knight” in saving the acquired company in the acquisition battle. No matter what the future of Goldman Sachs is in the “old script”, At least now that John Weinberg has not stepped down, indeed.

This involves some so-called Wall Street culture. To put it bluntly, it is a relationship bank. It is easy to understand if you compare the current Morgan Stanley with strong colors.

Suppose Morgan Stanley has two clients – A and B, the former wants to find Morgan Stanley to buy the latter, Morgan Stanley may have three actions – well, help A to buy B; or, secretly to B Whistleblowing, or you can counter-acquisition of A, forget it; even, after jumping out of C halfway, help C and acquire B without telling A and B.

As for which action it is, it depends on whose hands Morgan Stanley can get the most benefits.

There is also a situation with a higher pattern. Since the 1970s, hostile takeovers in the US capital market have become popular. In the 1980s, the scale has become larger and larger, and Morgan Stanley is often the hostile takeover. Push hands.

In fact, there is a non-negligible proportion of such acquisitions. It is just a transfer of control rights. It has no positive effect on the development of related industries in the United States.

When it was replaced by Gao Xian, in Xiangjiang, the Gao Yi family he actually controlled did something and did not do something, so that there was a hidden contradiction between this and the British capital such as Huifeng and some Chinese capital.

On the other side of Sir Gao sits William Miller, Chairman and CEO of Glory America, and Harvey Kruger, CEO of Lehman Brothers, which was acquired by Glory America, which is a bit of a lift for them. The status of the Wall Street position, as for the effect, it depends on the results of this small closed-door meeting.

So, an interesting situation emerged.

The most important big man will definitely appear at the end!

In the end, Dennis Weatherstone, CEO of JP Morgan, and Richard Fisher, CEO of Morgan Stanley, walked in one after another, listening to Sir Gao’s warm greeting “Sit wherever you want”. His eyes rolled, and he quickly looked at the seat and the people who were already seated.

When it was noted that William Miller, Chairman and CEO of High Yield USA, and Harvey Kruger, CEO of Lehman Brothers, sat next to Sir High, in the tacit syndicate on Wall Street, playing words Richard Fisher, the head of Morgan Stanley, nodded slightly and sat down opposite Sir Gao.