Chapter 375 [Empty glove white wolf, being a wolf and a wolf by himself]
If the foundation wants to become an LP member of Tiansheng Capital, it must use money to invest. However, the more than 160 billion currently on the foundation's account cannot be used to invest. Everything has been spread here. Use it to invest here.
Where does the money come from?
And if you want a higher investment return, the higher the principal, the better. So where does the principal of the foundation’s investment come from?
It's very simple, leverage, that is, the foundation adds leverage and debt to itself!
The specific method of operation is that Lu Ming lends his own money to the foundation, intending to lend 300 billion to the foundation as the principal of investment, and then the foundation will entrust the money to Tiansheng Capital Management to become one of its LP institutions.
Once you make money, return it to Lu Ming with interest.
For example, in the future, if the profit is doubled and the profit is more than 300 billion, it will be more than 600 billion in total. The foundation will return the more than 300 billion in debt to Lu Ming with interest, and the remaining 300 billion will be the net assets of the foundation, that is
He is a white wolf with empty gloves, and he is also acting as a white wolf with empty gloves.
However, Lu Ming no longer has so much cash flow to lend to the foundation, and the previously distributed funds were immediately transferred to the Science and People's Livelihood Fund and his family trust fund.
Although his current net worth is as high as 1.3 trillion, this is the nominal value of 55% of Tiansheng Holdings held by him, and the actual disposable cash assets belonging to his personal name are no longer even 10 million, and they will not decrease.
I am holding on to the stocks of Tiansheng Holdings, and the other thing is that his stocks have not yet passed the lifting period, and will not be lifted until April 2019.
But, no problem!
These are not problems at all for Lu Ming. He has stock assets with a market value of 1.3 trillion in his personal name. Isn’t it easy to generate 300 billion in liquidity to lend to the foundation?
Just one equity pledge and you’re done!
If the stock is pledged at a discount and then the current cash flow is obtained, wouldn't this money be available?
300 billion is not enough for banks, but if Lu Ming is willing, the major banks will definitely cross the threshold. What banks like most is to lend money to people who are not short of money. They often give out umbrellas on sunny days and take away umbrellas on rainy days.
All banks know that Lu Ming's business is low-risk and high-quality business. The amount is indeed huge, but it doesn't matter. The banks are not worried that Lu Ming can't repay it. If one family can't afford so much, then several companies can share it together.
, and can further share risks.
If Lu Ming is facing bankruptcy now, it basically means that there is a huge earthquake in the domestic financial market. It is difficult for people to imagine how big a financial crisis it would take to cause Lu Ming to go bankrupt. His bankruptcy does not only represent himself.
Going bankrupt, as well as Tiansheng Capital and the trillions of money it manages means something big is going to happen.
On the other hand, it is too big to fail, so of course the bank can lend it with confidence.
Then an interesting logic emerged. The more this happened, the less Lu Ming could fail. Precisely because he knew he couldn't fail, the bank dared to give more, and then the more he couldn't fail, and the positive feedback continued like this.
However, Lu Ming does not intend to pledge to the bank, but to the LP institution under Tiansheng Capital. However, he cannot pledge to Tiansheng Capital because the "Company Law" stipulates that the company shall not accept the company's stocks as the subject of the pledge right, so
As a shareholder of Tiansheng Capital, Lu Ming cannot pledge his equity to Tiansheng Capital.
However, the company's LP can accept Lu Ming's equity pledge as a pledgee. There is nothing wrong with the LP's money being managed by Lu Ming, but legally speaking, the money belongs to others.
It is indeed quite complicated to go around in circles, but the process must be followed. Lu Ming's operation is completely going around in his own financial system, taking the money out and finally putting it back.
In fact, nothing has changed. The only change is the change of owners. Science and Fund actually did not pay out a penny, but in fact it leveraged 300 billion in principal and became a major LP member of Tiansheng Capital.
.
The total size of Tiansheng Capital’s own assets + managed LP assets has also remained unchanged.
The reason for not pledging it to the bank is also very simple. Tiansheng Capital currently has too much liquid cash. It is impossible to invest more than 300 billion from the bank immediately, and it can only depreciate on the books. Then
It's no longer necessary.
300 billion, it’s not a small amount just to depreciate over the course of a day.
A lot of money has been invested in the bond market, but Tiansheng Capital's liquid cash is still over 1.5 trillion yuan. Lu Ming does not expect to make much profit in the bond market, it is just a means to hedge against inflation as a whole.
If you go all in, you won't be able to get out for a while. The most profitable thing is stocks. It's already mid-to-late April, and there is still about half a year left before you can buy the big A at the bottom.
Lu Ming is now holding on to the cash flow, sitting firmly on the Diaoyutai, waiting for the gold bottom to hit, and then getting in. As for the performance of Tiansheng Capital in the second half of the year, of course, he will also work hard to harvest foreign leeks to enrich the performance.
The funds cashed out from North America are still staying in Hong Kong. When the "vest" is completed, they are ready to attack the world as diving capital. They will have to make a profit in the second half of the year.
It just so happens that Tiansheng QDIE Fund's current overseas foreign exchange quota is useless, and it has risen to 7.5 billion US dollars. After the 300 billion yuan from the Science and People's Livelihood Foundation is implemented, it will officially become Tiansheng Capital LP and directly take the foundation's LP funds.
About 47 billion yuan will be exchanged for US$7.5 billion overseas, and priority will be given to using this money to generate high returns and profits.
Allowing the foundation's funds to earn more profits can also reduce leverage liabilities as soon as possible.
…
The next day, Friday.
This week ushered in the last transaction. On Wednesday and Thursday, the chip and semiconductor sector launched two positive lines that rose by more than +5%.
Yesterday Thursday, the chip sector set off a daily limit trend in the afternoon, but the tide ebbed very quickly. There was a differentiation in the last half hour, and the weak and strong stocks began to disappear that day. I really didn't predict it at the beginning, nor did I guess it at the end.
There was further differentiation today. Those who followed the rising trend directly opened the price at a much lower price during the auction, and were not even allowed to go up. The bowl of noodles they chased yesterday was sour and refreshing.
The leaders in the sector all opened higher today, and Trillion Innovation opened more than 3 points higher, setting a record high.
At this time, many retail investors admitted their mistake again, cut off their hair and chased the leader. The comment area of the barrage was shouting that the strong will always be strong, the leading stock hit a new high, the space above has been opened, there is no pressure, bullish!
Continuous bidding officially opened at 9:30. The chip and semiconductor sector rose sharply at the opening. Huiding Technology, Trillion Innovation, etc. rose by more than 5%, especially Trillion Innovation, which opened straight up, +5.75%, +6.54%.
7.39%……
Investors see that every minute and every second it is breaking new highs. This is the rhythm of entering the second board. If you are anxious, hurry up and buy. The strong will always be strong. The leader is the strongest. Tiansheng Capital is in the first level.
The market has already laid out this ticket, which holds 13% of the total share capital. Why worry about a ticket with a brother in charge?
Just Gan!
Just when everyone thought that Trillion Innovation was going to pull straight to become the daily leader in the semiconductor sector...
At 9:31 minutes and 52 seconds, a sell order of 14,300 lots was thrown out with a "snap", interrupting the straight upward momentum. The time-sharing price was hit +6.29% with a "click", and then all the orders that had just been bought were hit.
The investors who came in felt "thumped" in their hearts when they saw this selling order...
