Chapter 620: Swapping a Shotgun for a Cannon

Chapter 620: Swapping a Shotgun for a Cannon

The bidding process was not as intense as Fan Wumian had imagined, and a premium of around 20% was a reasonable number.

It can be seen from this that it seems that many people still lack confidence and accurate judgment about the recovery of the fund securities market.

Other companies hoped to swallow up the 48% shares of Boshi Fund to increase their market share and speed up the pace of market development, but after paying a premium of more than 3 million yuan, they all backed out.

After all, the A-share index has rebounded from the historical low of 2005 points in June 6 to more than 998 points today. The profit margin has been severely compressed, and many investors have begun to choose to cash out and hold their coins to wait and see.

In the short term, funds and brokerage companies have made good profits, but that does not mean the situation is extremely good and can be maintained in the long run.

The company that has the ability to swallow up these shares of BoShi Fund is already a wealthy industry leader. It participates in the auction just to add icing on the cake. Of course, there is no need to take huge risks and continue to fight with Fan Wumian to the end.

Any expert with a bit of common sense would never have imagined, even in his dreams, to what heights this round of "bull market" would push the mainland stock market.

Just this year, before the financial tsunami really arrived, affected by the tidal effect of the US dollar, it seemed that all the macro-control measures in the mainland had failed. The A-share market was about to see the biggest bubble in history, and the Shanghai Composite Index would more than double from its current level.

In the upcoming bull market, countless investors will surely flock to open accounts and invest their money in the capital and brokerage markets. At the end of last year, the total size of the mainland fund market was only more than 8500 billion yuan. Even if it rises to 20000 trillion yuan this year, Fan Wumian will not find it strange at all.

As long as the scale of the fund market increases, how can the platform business not make money?
Whether in the short or long term, large-scale layout in the asset management field is very beneficial to Fan Wumian.

The more than 600 billion yuan of assets managed by Boshi Fund are now lurking in various A-share listed companies. When A-shares start to rise sharply and reach a crazy height, he can start to sell off large holdings and cash out to help clients reduce risks.

There is no need to achieve completely zero losses. As long as the losses are less than other asset management companies and the rebound is faster than other peers, clients will praise him for his ability.

You can make a comeback afterwards and continue to buy at the bottom after the stock market crash, wait for the market confidence to recover and rebound, and ambush the next round of upward cycle in advance.

Although the specific situation is not clear.

However, Fan Wumian feels that this strategy of boosting emerging markets and then turning around to buy at the bottom will surely allow countless international hot money lurking in the A-share market to make a fortune, and the bubble will also be deeply affected by foreign countries.

If he actively buys at the bottom afterwards and mobilizes market rebound sentiment, he may have a chance to catch multinational hot money off guard and prevent them from picking up too many cheap chips with blood on them.

From some perspectives, Fan Wumian now finds this kind of battle with multinational hot money far more interesting than making money for himself.

Suddenly, a new idea came to him. He tried to spend a little money to set up a financial research institution, continue to have more say in the market, and at the same time establish more financial products that can be priced independently.

It is always easy to get into trouble if one jumps out in person and shows up in public, but if one speaks out through his financial research institute, it is equivalent to setting up a firewall between him and the market, which helps to avoid being criticized.

As the host dropped the gavel, Fan Wumian became the largest shareholder of Boshi Fund. The decision-making power corresponding to this batch of shares was enough to make him the actual controller of Boshi Fund.

It cost 16.4 billion yuan, and he had to pay a little extra handling fee, but the benefit was that it allowed him to avoid a detour of one or two years, greatly shortening the time it took to accumulate strength.

Including projects such as China Merchants Bank Securities, Bandit King Fund, Bank of China Fund and WM-Rogers Hedge Fund, Fan Wumian can already influence and mobilize client assets worth hundreds of billions of RMB.

Although the money was not his own and he was just managing it for his clients, controlling such a terrifying amount of wealth still made Fan Wumian feel relaxed and happy. He felt indescribable and the feeling immediately became different.

It felt like climbing to the top of a mountain, and then moving further up, you saw a more beautiful view.
--------------

There are more than 150 foreclosed assets being auctioned today.

The morning auction lasted until 11:60, and only more than 1 items were sold. There was a short break at noon and it would not continue until : p.m. After the auction ended.

Many people took the opportunity to come to Fan Wumian to congratulate him, including the owner of the Maybach 62S, who said that he wanted his wife to open an account and give him 3000 million yuan of idle funds to manage.

He was clearly a big client from the Northeast, but he didn't even get the chance to dine at the same table with Fan Wumian.

Because the executives of Southern Fund organized a dinner party, there were also people from Shenzhen officials in the party. The table was full of representatives from asset management companies, and the fund business involved was worth three to four hundred billion yuan.

Originally, when Fan Wumian invested in China Merchants Bank Securities and established his own Bandit King Fund, other colleagues could still just watch the fun.

The situation is completely different now.

Fan Wumian seized actual control of Boshi Fund Management Co., Ltd. at one stroke. At the same time, relying on his investment strategy of shorting the U.S. housing and subprime mortgage markets, he made great strides on Wall Street and raised funds equivalent to more than 20 billion yuan.

The bearish view on the global economy a few days ago was widely reported by international mainstream media such as The New York Times, The Wall Street Journal, NBC, BBC, etc. Its influence has greatly increased compared with before and is no longer comparable.

At the dinner table, someone asked about the subprime mortgage issue, and Fan Wumian only mentioned it briefly.

It is said that the root cause is the crazy lending in the United States in the past two years, which forced many consumers with unstable incomes who could not afford houses to buy houses at high prices. With the Federal Reserve raising interest rates, interest rates have increased significantly. Once the US housing market collapses and prices plummet, it is estimated that hundreds of billions of dollars or even trillions of dollars in bad debts will appear, which will crush the global economy.

These opinions alone, without actual data to support them, are not enough to convince everyone at the dinner.

However, the massive influx of Wall Street funds into the Paulson Hedge Fund and the WM-Rogers Hedge Fund made them suspect that there were undercurrents beneath the surface and that Fan Wumian's view was correct.

During the banquet.

Fan Wumian drank two glasses of white wine and felt comfortable. With the intention of getting information, he suddenly asked:
"Among the assets auctioned this afternoon, there is a company called 'Hua Shen Coal Industry' registered in Shenzhen. It owns four large coal mines in Shanqi, with a combined annual output of nearly 200 million tons. Do you know anything about it?"

The official representative of Shenzhen City, who was originally unable to respond, was shocked when he heard this and quickly spoke first:

"I am very familiar with this matter. Starting from March of the previous year, Huashen Coal Industry, which has Hong Kong capital background, went to Shanqi to invest and deliberately lowered the price. It bought several large coal mines in succession at about one-tenth of the real value."

"Later, the interests of villagers in a village were damaged, and they reported it under their real names, which attracted attention. Only then did we follow the clues and get to the bottom of it. Huashen Coal Industry was also seized and frozen, and a total of dozens of people were prosecuted by the court."

"After sorting out the details of the equity and assets, we asked a qualified company to conduct an assessment and found that the actual value of the company's coal mines was around 700 to 800 million yuan, but a large amount of equity had been pledged to banks last year."

"Among the cashed-out funds, more than 4 million is missing. We only found out that it was transferred to Canada in batches through Singapore, but we couldn't find out any further because Canada was unwilling to cooperate."

Fan Wumian knew the general situation, but the details in the information were not comprehensive enough.

Things like running away with the money are very common these days. A screenwriter has suggested before that the scale of money laundering in Hong Kong is as high as 200 billion to 300 billion Hong Kong dollars each year, and that a script can be written based on this and made into a movie.

But Fan Wumian was well aware of how deep the water was behind this. The share of the cake that was touched was too big. He was worried about attracting those desperate criminals and offending the black, white and gray worlds at the same time. In addition, there were not many audiences interested in this kind of subject matter, which was far less than the special subject matter of making and selling counterfeit money like "Wushuang". Therefore, he chose to shelve it for the time being.

Fan Wumian continued to ask:
"If I buy this coal mine, can I delay paying off the bad debts to the bank? Investing too much money in the short term is a bit stressful."

Someone nearby wondered:
"Mr. Fan, are you still interested in the coal mining business? The coal mining energy sector is likely to surge recently, haha! Those bad bank debts are no longer bad debts when they are in your hands, Mr. Fan. I guess the bank is having a headache and will definitely be willing to talk to you." (End of this chapter)