Everyone wants to buy good things, but the market needs to rely on investment to maintain value and outperform inflation in the retirement and pension funds capital. It is said that more than 100 billion yuan is less.

Based on the 242 million population in the United States in 1973, the minimum estimated retired population over 60 years old is more than 2,420.

The average per capita of 10,000 US dollars is 242 billion US dollars.

But this number is definitely the most conservative estimate. The reason is very simple. The debt ratio of the United States in 1970 was only 7%.

By 1973, it was only 10.3%.

In other words, if half of the retired population have fixed assets and deposits, they will not only have assets of 50,000 or 100,000.

There is still $30,000.

The 300 billion yuan pension and retirement funds are looking for investment projects in the market, and the intensity of competition can be imagined.

So, everyone will grab those high-credit rating bonds, but what should you do if you can't?

Or you only grab a part of the fund management funds, where do you invest the rest?

And for retirement and pension fund management, their primary goal is not to make 10% or 30%.

It is a level 3a stable income that is comparable to treasury bonds.

Even for the commission and salary next year and the following year, the management of retirement and pension funds will actively lower the fund's returns.

To avoid customers being stimulated by high returns, they will become harsh on management.

So 60% of high-yield bonds, plus 40% of junk bonds, will it become the first choice for these stable funds?

Isn't it ridiculous?

For Citi, once such a portfolio is promoted to selected funds, various contracts and confidentiality terms are signed.

Citigroup earns more than 40% more money every year than other commercial banks.

And this 40% means that the annual net profit is 100 million or 200 million US dollars more than the previous year.

Comparing the profits of other commercial banks and investment banks, a 40% increase will make it impossible for stock prices to not soar.

Also, subprime mortgage is not necessarily the case, and junk stocks in real estate are completely needed.

Since oil and gold will rise in the next ten years, and the United States will definitely issue a large number of government bonds.

You can use these stable income assets and various junk stocks to combine them, and specifically promote them to various value-preserving funds.

Moreover, the income from the subprime mortgage loan is only the first one.

As Li Changheng thought of, there was an insurance company rating the packaged bond products with rating agencies of 50,000 US dollars per coupon.

In order to get more treasury bonds, we also make bumpers for funds to recognize and accept subprime loan products.

If you help the Fed lend the printed US dollar bills to investors, you can earn two more transaction fees.

The contracts that lend to investors are selected to select garbage contracts with low repayment capabilities, and packaged with spot contracts such as treasury bonds, gold, oil, and other spot contracts.

Then use contracts with high repayment capabilities and other junk bonds to form a second financial product and hand it over to the rating agency for evaluation.

It can easily transfer debts and risks to investors, and also earn another transaction fee from trading types.

Of course, some people will say that oil and gold will rise, and Citi will suffer losses by selling it.

But Citi is a commercial bank, which not only absorbs deposits, but also has all the functions and powers of investment banks.

This morning, I took out 10 million gold and oil contracts as portfolio bonds, and in the afternoon, Citi can buy back the same number of spot contracts in the market with a lower price than subprime loan transaction fee.

In other words, as long as gold and oil do not fall, Citi can always make transaction fees and price differences, and take both up and down.

Even bite your mouth at the Fed.

However, in order to keep it confidential, the profits of this model will be left out of the Fed.

After all, except for Citi, other capitals are not fools. It is impossible to not detect them after a long time.

Fortunately, the Americans have always been very strict in controlling financial institutions due to the unlimited expansion of several major consortiums in this era.

The harm of financial derivatives is certainly not as serious as it will be decades later.

Moreover, it has always existed, but banks did not expect to combine junk bonds and excellent assets, make the cake bigger, and earn more transaction fees than excellent bonds.

As for who will suffer in the end, it must be the US government and ordinary people.

Capitalists don’t care about issues such as conscience and morality.

What's more, those who maintain high credit and high-quality life in the United States are often the group of vampires on Wall Street.

Investors want to kill their investment managers and fund managers, but they are simply encountering financial crisis.

But when the bull market is over, American leeks will be like flies, chasing Wall Street elites who can make money.

Therefore, since you enter the market, you must be prepared to lose money.

Li Changheng, who had finished thinking about these things in a few seconds, looked at the shareholders and bewitched again.

"In the next ten years, as long as you are a shareholder of Citi, even if you only hold 0.1% of the shares, I guarantee you can become a billionaire."

Now, whether it is the major shareholder or the small shareholder, they are all quiet and stare at Li Changheng with bright eyes.

No one would believe whatever Li Changheng said, but at this time no one would be a fool to question him.

The prospect of word processors with TV shopping, vertical farms and office integration, and computer alternatives has forced shareholders to give up their doubts and choose to believe in Li Changheng.

Moreover, since they dare to make public promises to shareholders, everyone is willing to give Li Changheng a little time to prove themselves.

And Li Changheng's next words made everyone more convinced that he was not talking nonsense.

With a shareholder entering the conference room, Li Changheng kissed Annie and asked her to go to the luxury reception room to wait for her.

However, Annie's expression was entangled, and she showed a cautious look in her eyes, holding her hand.

After thinking about it for a while, Li Changheng understood that this girl should have wanted to tell her father-in-law to buy Citigroup shares as soon as possible.

But he was worried that he would anger his men.

After thinking about it, since I can’t buy stocks in the stock market, it’s better to be cheaper than others.

Even if Anne doesn't say that, Philip will most likely use the fund to buy Citi stocks.

Take the initiative to remind you, it will definitely be better than saying nothing.

However, it is a bit particular about how to say it, "Don't call or write a letter, let Butler Meryl fly to London, so as not to be caught in the insider information.

Moreover, you are my fiancée, and you must not buy Citi stocks at this time.”

Annie nodded happily, then grabbed Li Changheng's hand and shook it a few times, and asked with a smile, "It's winter almost, I want to buy a sable coat, okay?"

Of course, Li Changheng would not be stingy about this matter. Not to mention tens of thousands of dollars, it would be fine if it was tens of thousands of dollars. "I will accompany you to go shopping in the afternoon."

Anne immediately smiled brightly.

Li Changheng burned incense on her mouth a few times, and asked Banks and Blade to take good care of Annie.
Chapter completed!