Chapter 624: Mr. Fan is really conscious
With the change of the actual controlling shareholder, the company will inevitably undergo a major reshuffle.
Almost all employees within Boshi Fund have anticipated this, but it is not yet clear where the new official's first three moves will focus.
Even the security guard standing guard at the door and the aunties cleaning the floors above and below, after hearing the gossip that the new boss might come at any time, became extremely alert today, fearing that they would lose their hard-earned jobs due to a small mistake.
This was obviously an overestimation of Fan Wumian's professionalism. He didn't even notice details like the security guard rarely wore a tie today and the cleaning lady wiped the floor until it was reflective. He had too many employees under him and it was difficult for him to take care of everything like when he first started his business.
Forced to do the job without any prior preparation, Fan Wumian stood on the stage and explained some recent work priorities, which only took a few minutes.
The efficiency was so high and the speeches were so concise that even the employees who were used to the long speeches of senior executives felt a little uncomfortable.
Suddenly, everyone became an employee of the company under Fan Wumian's name, from the girl at the front desk, to the female manager of the marketing department, to the accounting and finance department which was almost dominated by women. Everyone was so excited that it was almost like Chinese New Year. After the meeting, they talked about him in a buzz, and the topic was nothing more than how handsome and powerful he was.
Some middle and senior managers who escaped the audit process after the collapse of their parent company are now worried about the upcoming comprehensive audit, fearing that certain problems will be found out and they will become the chicken to be killed to scare the monkeys.
Many employees in fund managers, investment managers, research analysts and other positions are busy pondering Fan Wumian's words: "There is no need to doubt, just do as I say. A systemic financial crisis is brewing on Wall Street."
Although it is unclear what Fan Wumian saw, the fact that he couldn't wait to steer this "giant ship" to change its course as soon as he acquired 48% of the shares of Boshi Fund seems to indicate that the situation is already very serious.
Some people believe that the view that a financial crisis is about to come is probably not groundless, while others think that Fan Wumian is too young and lacks experience in fund funding, and is simply acting recklessly as a young man.
Similar to many companies with official backgrounds, sometimes relationships are more important than ability in climbing to the management level.
Especially many middle-aged people in their forties and fifties are only willing to believe that their own ideas are correct and will not listen to other opinions at all. It is almost impossible to make them agree with Fan Wumian's views from the bottom of their hearts just because of a few words.
Of course.
Fan Wumian doesn't need them to be convinced. As the actual controlling shareholder with a 48% stake, he just needs these people under him to execute according to his ideas. Anyway, facts will always prove that he is right.
As long as he can lead this large company with assets under management of more than 600 billion yuan to accomplish a feat of accurately picking the bottom throughout the bull and bear markets, all doubts will be resolved, and even the title of "Little Stock God of Hong Kong" mentioned jokingly by the media will seem well-deserved.
After giving a few instructions at the meeting, Fan Wumian once again came to the chairman's office, which had been carefully cleaned and decorated with green plants and modern artworks.
The vice president, Wang Yu, who is only 42 years old, smiled and reminded us indirectly:
"Since the previous actual controller was taken away for investigation, this office has been idle for a long time. During this period, it was used as an office by multiple investigation teams and was reviewed several times."
"Any employee who had any ulterior motives would have been fired or hired to work for the government. It's fine if Mr. Fan wants to conduct an audit, but there's no need to make people panic. After all, the Spring Festival is only a dozen days away."
"Please don't get me wrong, Mr. Fan. I just want to say that at least I can guarantee that I am absolutely clean. Apart from the salary and bonus I deserve, I never do anything messy. So many executives went to jail, but I was the one who took over. I created another brilliant achievement last year and led our company to a new height."
I originally thought that Vice President Wang had something to hide and wanted to persuade me not to do a comprehensive audit right away.
After hearing the latter part, Fan Wumian realized that he was just bragging. Since the position of president had been vacant for a long time, he probably wanted to take the opportunity to move up to avoid being taken advantage of by other people who were parachuted in.
Fan Wumian explained with a smile:
"Don't get me wrong, the purpose of an audit is to gain a comprehensive understanding of the company. I don't know anything about the company's accounts, human resources, customer information, etc. I need to understand the situation thoroughly before I can proceed with the next step."
"What do you think of my prediction of the financial crisis, Vice President Wang?"
"Boshi Fund is so big that it is difficult to adjust it in a short time. After I have reviewed the situation of each fund, some work will have to be prepared before the New Year. I will trouble you to work harder then."
Vice President Wang Yu immediately stated:
"Mr. Fan is young and successful. He started from scratch and earned more than 10 billion Hong Kong dollars. How could it be all luck? Since you think there is a high possibility of systemic financial risks, there must be a reason. I admire his actions such as investing heavily in Penguin Group and Sanyao Heavy Industry, going long on Apple stocks, and opening a hedge fund on Wall Street. All these actions make me admire them very much. All the fund managers in our company are simply not worth mentioning compared to Mr. Fan's achievements."
It was really hard for him to compliment Fan Wumian in such a serious manner and yet make it seem like it came from the heart and was the right thing to do.
Fan Wumian was worried that the next work would be difficult to carry out and would encounter resistance from within the company, so he whispered in a light tone:
"My judgment is indeed reasonable." Vice President Wang thought he was a bit arrogant at first, but then he heard Fan Wumian continue:
"In New York, I received a piece of news that has not been announced yet. There is evidence that a bank that ranks in the top five of The Banker's ranking of the world's 1000 largest banks will write down tens of billions of dollars in assets recently, mainly because of the heavy losses in its North American mortgage business."
After listening.
Vice President Wang Yu felt numb all over, with an expression as if he had seen a ghost on his face. It was as if a chill ran straight up from the soles of his feet to the top of his head, instantly making his hair stand on end.
Last year, The Banker magazine ranked the world's 1000 largest banks, and the top five were Citigroup, Forex, Bank of America, Morgan Stanley and Mitsubishi UFJ Financial Group.
No matter which one goes wrong, it will be enough to cause a major earthquake in the securities and financial markets.
Fan Wumian smiled, feeling happy about his impending wealth, and asked:
"Do you understand my plan now? The appearance of a cockroach in the house usually means that there is already a nest of cockroaches. I can't imagine how huge the scale of all the bad debts would be if they were added together."
Vice President Wang asked hurriedly, "Such a big thing, how come I didn't hear anything?"
"It's because the matter is too big, so big that no one can handle it, so you can't hear it."
Fan Wumian further explained:
"If the shoe drops, how can those who received the news in advance pass the parcel to others? And as long as homebuyers know that others have started to default on their loans, others will follow suit, turning subprime derivatives into complete garbage."
"I think the mainland stock market will be pushed up to a crazy height with the tide of the US dollar, and then fall suddenly, probably within the next few months, and no more than half a year at most."
“Based on this conclusion, you should make a comprehensive plan as soon as possible to help investors preserve their assets as much as possible. Holding on to your coins and waiting may be the best option in a few months.”
Based on the fact that "a big cockroach has appeared in the house", Vice President Wang immediately understood Fan Wumian's recent seemingly crazy behavior and suddenly realized:
"No wonder the hedge fund company you founded on Wall Street, Mr. Fan, can attract so many clients. I thought it was just the enthusiastic support of foreign fans. If that's the case, then wouldn't we make a lot of money?"
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Ordinary people can only see risks in the financial crisis, but asset management tycoons like Vice President Wang can clearly realize the opportunities that come with it.
Fan Wumian reminded:
"The company is under your management now. You and I know about this matter. Don't tell anyone else. As long as you help me get it done, I will give you at least an eight-digit bonus afterwards."
"Some opportunities only come once in a lifetime. This one is worth waiting for. If there are troublemakers in the company who are unwilling to follow my instructions, just fire them for me."
"However, while making money is important, we must also cooperate with the official actions to help cool down the market. We must not lose the big picture for the sake of penny wise."
Vice President Wang was immersed in the dream of an "8-digit bonus" and said after a long pause:
"Mr. Fan is really conscious. If it were me, I would only consider the interests of the company and would never think of cooperating with the official actions. No wonder you can become a boss and be so popular in the mainland! Don't worry about handing the task to me. I have been an investment manager and a research analyst. Once I find the data and build a model, I will soon figure out what to do!"
As soon as he drew a big pie in the sky, Vice President Wang Yu immediately transformed himself into a "nuclear-powered donkey" and prepared to do something ambitious.
Fan Wumian had just spent over a billion to buy 48% of the company's shares, and then went to Wall Street for large-scale investment. Vice President Wang certainly didn't think he was joking with him. He was really curious and couldn't help asking:
"Mr. Fan, the company you just mentioned that is about to write down tens of billions of dollars in assets, could it be Huifeng Bank? Those American companies can work together to cover up the problem and prevent others from seeing the tattered underwear. Huifeng Bank is from the UK, but no one will help it. If they short it, how much money will it make?"
Fan Wumian just smiled and asked back:
"How do you know that others are not shorting? I just borrowed 30 billion Hong Kong dollars from Bank of China Hong Kong, and also raised some money from outside."
Some things don't need to be said too clearly. Just saying enough will make people imagine more. Vice President Wang instantly became his "little fanboy", sucking in a breath of cold air and giving a thumbs-up repeatedly. (End of this chapter)