Chapter 33： John Paulson
In the end, Tom agreed and would help William Chen find a suitable teacher as soon as possible to teach him to write the script, as well as the director to split the script.
As for Chen William, it's a slap in the face, and he's used to it at this time. After all, it's a good thing to be willing to learn. It's better than he used to drink and fool around all day in Hollywood. Sure enough, when a person's lower limit is very low, his room for improvement is particularly large.
However, when Nielsen called and said that he had arranged a meeting with John Paulson for William Chen, the other party was willing to meet him.
At this time, William Chen remembered that he almost forgot that he had entrusted the other party to help him meet with the king of short sellers.
But fortunately, he still has time to do this now. It is best to quickly get this big short and let him come over to help him short the real estate market.
"William, you can't do this anymore." Before William Chen could see John Paulson, Alicia found him first. She came to see William Chen this time because his financial situation made her very dissatisfied.
Because Chen William's current tax planning is handed over to Alicia, Alicia will get Chen William's financial records regularly, so that she can make advance planning for Chen William's tax return next year. And Alicia also found with a headache that the account transactions on William Chen's side were really confusing.
"William, I hope you can clearly distinguish the funds of the company and the individual in the future. Although your Meta investment company is completely yours, if you always make frequent transfers between the company and your personal account , would be a disaster for your tax stats.
Although there are many differences between China and the United States in terms of taxation, William Chen also managed a company in his previous life, and he still knew that the simplest company funds and personal funds should not be confused.
But his real situation is a bit special. After all, he can't explain to others that he has a future bank, and during this time, he also needs the profit from investment to pay his bank debts. Therefore, it seems that there will be the current situation of frequent transfers between corporate accounts and personal accounts.
And the weirdest thing is that the records of future bank deductions cannot be queried at all, so it looks like a sum of money disappeared out of thin air in his personal account, and then a sum of money appeared out of thin air. Fortunately, William Chen did not give Ai directly. Licia's specific transfer records will only be indicated in the accounts given to her, otherwise she will be even more mad.
However, William Chen doesn't know what method the bank will use in the future. It seems that no one has noticed this except for his accident. Maybe it's like this record doesn't exist, but everyone ignores this inexplicably.
"Sorry, Alicia, but my situation is that some of the funds invested are borrowed from other places, and they are all short-term funds that need to be returned in time, so this situation occurs."
"If this is the case, William. There are two ways to solve this problem: one is to borrow personal funds as a company, but in this case, after the investment is profitable, the company can repay the loaned principal and appropriate interest, and cannot take Too much profit is transferred to the personal account. If such a situation occurs, it can only be marked as a dividend and needs to be paid by the individual.
Another is that your investment company can set up an investment fund, and then use personal funds as capital to participate in the fund. The advantage of this method is that as long as you do not redeem the fund or distribute dividends, then as long as you hold the fund Over a year, your capital gains tax rate will be significantly lower.
Moreover, for financial investment in the form of a fund, the investment company only needs to pay a very low tax, because the process of investing in this fund is essentially that the company uses the customer's funds for financial management. "
In Alicia's view, William Chen's investment talent is indeed very high. She came to this conclusion from what she saw about the profitability of Meta Investments. But the same, William Chen's understanding of the company's financial aspects. It just doesn't match his status as a son of a rich family.
In the United States, when the wealthy are cultivating successors, they can ignore each other's artistic accomplishment, educational level, and even school grades, but knowledge of finance and taxation will definitely be the skills that need to be mastered the most.
However, considering that William Chen's parents were killed when he was still young, his current behavior is understandable. After all, given the fact that the film projects he had invested in had suffered heavy losses, he might not need much knowledge in this regard.
Next, Alicia patiently explained some basic financial knowledge to William Chen, and helped William Chen sort out his financial situation, and also put forward many opinions on his future company structure. Overall, William Chen felt that he had benefited a lot from this conversation.
Of course, the matter of Alicia can only be regarded as a small episode. Next, the most important thing for William Chen is to arrange a meeting with John Paulson, after all, this is related to the benefits he can get in the coming subprime mortgage crisis.
The meeting between the two went relatively smoothly. After an in-depth conversation, John Paulson finally accepted William Chen's invitation. He will join Meta Investment Company later, and his most important task is to continue to study the situation of the real estate industry in the United States and prepare to short real estate bonds.
This result was also expected by William Chen. Now, John Paulson's situation is not very good. After the fund he was in charge of before suffered heavy losses due to shorting real estate subordinated bonds, he has been idle at home.
During this period, he also took the initiative to look for job opportunities, but he was always rejected by various fund companies. Even if he was willing to hire him, he just hoped that he would do other jobs, and would not be assured that he would be in charge of a small scale. investment fund.
So far, John Paulson has maintained his view that there is a huge bubble in the American housing market, and because banks cooperate with mortgage companies to package those subprime loans with bad credit as financial products for sale, It magnifies the size of the bubble.
Because the interest rate of the loan is fluctuated according to the lender's assets and credit rating, people with high assets and high credit, the loan interest is lower, which is very reasonable, because their repayment ability is stronger, the risk of the bank will be lower , and therefore willing to lend them money.
And those who don't have qualified asset certificates and low credit ratings, the interest on their loans will be very high. In order to sell more houses and gain more income, the mortgage company lowered the qualification requirements, and took out the sub-prime loans with the highest risk, and cooperated with banks and financial companies to launch related financial products, because these sub-prime loans originally The interest rate is high. This financial product called CDO is very popular after its launch because of its high yield.
But there is leverage in the financial market. When the housing market continues to partner, housing prices keep rising, and those who take out loans to buy houses can make money, the game can continue to be played.
Once this kind of prosperity cannot be sustained, with the large-scale subprime loan defaults, and then gradually magnified, the final damage will also increase exponentially, and finally it will become a major crisis affecting the global economy.
Although it was too early for John Paulson's fund to short the crisis, he is now more and more certain through the performance of the market that this growing bubble is about to meet. Time to be punctured.
William Chen is the only person who agrees with his point of view so far and is willing to provide funds for him to personally short the real estate market. This is also the biggest reason why John Paulson is willing to join William Chen's investment company.
Because he firmly believes in his own judgment, and his situation is that after the loss caused by his operation error, the fund he was in charge of was fired without the opportunity to correct the mistake. In addition, he insisted on looking at the vacant American real estate, which made Many fund companies are worried that hiring him as a fund experience will cause losses to the company's fund because of the views he insists, so they no longer trust him.
It is precisely because of this that he held his breath in his heart, hoping to prove his judgment was correct with practical actions.
Through the eyes of the future, William Chen knew that the subprime mortgage crisis in this world would break out at the end of September. At the same time, he also understands that this kind of investment must be deployed in advance, and it will be too late to start the layout after the crisis breaks out.
Because once the crisis breaks out, many funds will respond quickly. In order to hedge their possible losses will carry out bearish operations accordingly, and the prices of those bonds will be greatly affected.
Therefore, in his plan, after completing this investment in the international purchase price, he will immediately take part of the profit and hand it over to John Paulson to set up a fund dedicated to shorting the real estate market. During this crisis profit in.
…………
Erica came to William Chen's office again and started today's class. In the meantime, Chen William told her about his upcoming study plan. In William Chen's plan, when the teacher in screenwriting and other aspects that Uncle Tom found for him arrived in New York, he was ready to start studying intensively for six days.
Of course, it would be difficult for him to complete these studies in such a short period of time based on his current state, but his reliance is the experience boosting ring in the inventory of the bank in the future. With this, William Chen is willing to give this challenge a try.
In William Chen's plan, he will spend these six days like this: get up at 6 in the morning, run in the morning, and eat breakfast; then he will start the first class at 8 o'clock, and after the 3-hour class, he will End the first class at 11.
Then he'll take an hour for lunch and a short break, starting the second class at 12 o'clock. By the time the second course was completed, it was 3:00 pm; he went on to start the third course, which was from 3:00 to 6:00; another hour was spent eating dinner and doing some other work matter.
Finally, the fourth class starts at 7pm and ends at 10pm. In this way, he still has an hour and a half to deal with things, take a shower, and finally go to bed at 11:30, which leaves him almost six hours of sleep every day.
As for Chen William, it's a slap in the face, and he's used to it at this time. After all, it's a good thing to be willing to learn. It's better than he used to drink and fool around all day in Hollywood. Sure enough, when a person's lower limit is very low, his room for improvement is particularly large.
However, when Nielsen called and said that he had arranged a meeting with John Paulson for William Chen, the other party was willing to meet him.
At this time, William Chen remembered that he almost forgot that he had entrusted the other party to help him meet with the king of short sellers.
But fortunately, he still has time to do this now. It is best to quickly get this big short and let him come over to help him short the real estate market.
"William, you can't do this anymore." Before William Chen could see John Paulson, Alicia found him first. She came to see William Chen this time because his financial situation made her very dissatisfied.
Because Chen William's current tax planning is handed over to Alicia, Alicia will get Chen William's financial records regularly, so that she can make advance planning for Chen William's tax return next year. And Alicia also found with a headache that the account transactions on William Chen's side were really confusing.
"William, I hope you can clearly distinguish the funds of the company and the individual in the future. Although your Meta investment company is completely yours, if you always make frequent transfers between the company and your personal account , would be a disaster for your tax stats.
Although there are many differences between China and the United States in terms of taxation, William Chen also managed a company in his previous life, and he still knew that the simplest company funds and personal funds should not be confused.
But his real situation is a bit special. After all, he can't explain to others that he has a future bank, and during this time, he also needs the profit from investment to pay his bank debts. Therefore, it seems that there will be the current situation of frequent transfers between corporate accounts and personal accounts.
And the weirdest thing is that the records of future bank deductions cannot be queried at all, so it looks like a sum of money disappeared out of thin air in his personal account, and then a sum of money appeared out of thin air. Fortunately, William Chen did not give Ai directly. Licia's specific transfer records will only be indicated in the accounts given to her, otherwise she will be even more mad.
However, William Chen doesn't know what method the bank will use in the future. It seems that no one has noticed this except for his accident. Maybe it's like this record doesn't exist, but everyone ignores this inexplicably.
"Sorry, Alicia, but my situation is that some of the funds invested are borrowed from other places, and they are all short-term funds that need to be returned in time, so this situation occurs."
"If this is the case, William. There are two ways to solve this problem: one is to borrow personal funds as a company, but in this case, after the investment is profitable, the company can repay the loaned principal and appropriate interest, and cannot take Too much profit is transferred to the personal account. If such a situation occurs, it can only be marked as a dividend and needs to be paid by the individual.
Another is that your investment company can set up an investment fund, and then use personal funds as capital to participate in the fund. The advantage of this method is that as long as you do not redeem the fund or distribute dividends, then as long as you hold the fund Over a year, your capital gains tax rate will be significantly lower.
Moreover, for financial investment in the form of a fund, the investment company only needs to pay a very low tax, because the process of investing in this fund is essentially that the company uses the customer's funds for financial management. "
In Alicia's view, William Chen's investment talent is indeed very high. She came to this conclusion from what she saw about the profitability of Meta Investments. But the same, William Chen's understanding of the company's financial aspects. It just doesn't match his status as a son of a rich family.
In the United States, when the wealthy are cultivating successors, they can ignore each other's artistic accomplishment, educational level, and even school grades, but knowledge of finance and taxation will definitely be the skills that need to be mastered the most.
However, considering that William Chen's parents were killed when he was still young, his current behavior is understandable. After all, given the fact that the film projects he had invested in had suffered heavy losses, he might not need much knowledge in this regard.
Next, Alicia patiently explained some basic financial knowledge to William Chen, and helped William Chen sort out his financial situation, and also put forward many opinions on his future company structure. Overall, William Chen felt that he had benefited a lot from this conversation.
Of course, the matter of Alicia can only be regarded as a small episode. Next, the most important thing for William Chen is to arrange a meeting with John Paulson, after all, this is related to the benefits he can get in the coming subprime mortgage crisis.
The meeting between the two went relatively smoothly. After an in-depth conversation, John Paulson finally accepted William Chen's invitation. He will join Meta Investment Company later, and his most important task is to continue to study the situation of the real estate industry in the United States and prepare to short real estate bonds.
This result was also expected by William Chen. Now, John Paulson's situation is not very good. After the fund he was in charge of before suffered heavy losses due to shorting real estate subordinated bonds, he has been idle at home.
During this period, he also took the initiative to look for job opportunities, but he was always rejected by various fund companies. Even if he was willing to hire him, he just hoped that he would do other jobs, and would not be assured that he would be in charge of a small scale. investment fund.
So far, John Paulson has maintained his view that there is a huge bubble in the American housing market, and because banks cooperate with mortgage companies to package those subprime loans with bad credit as financial products for sale, It magnifies the size of the bubble.
Because the interest rate of the loan is fluctuated according to the lender's assets and credit rating, people with high assets and high credit, the loan interest is lower, which is very reasonable, because their repayment ability is stronger, the risk of the bank will be lower , and therefore willing to lend them money.
And those who don't have qualified asset certificates and low credit ratings, the interest on their loans will be very high. In order to sell more houses and gain more income, the mortgage company lowered the qualification requirements, and took out the sub-prime loans with the highest risk, and cooperated with banks and financial companies to launch related financial products, because these sub-prime loans originally The interest rate is high. This financial product called CDO is very popular after its launch because of its high yield.
But there is leverage in the financial market. When the housing market continues to partner, housing prices keep rising, and those who take out loans to buy houses can make money, the game can continue to be played.
Once this kind of prosperity cannot be sustained, with the large-scale subprime loan defaults, and then gradually magnified, the final damage will also increase exponentially, and finally it will become a major crisis affecting the global economy.
Although it was too early for John Paulson's fund to short the crisis, he is now more and more certain through the performance of the market that this growing bubble is about to meet. Time to be punctured.
William Chen is the only person who agrees with his point of view so far and is willing to provide funds for him to personally short the real estate market. This is also the biggest reason why John Paulson is willing to join William Chen's investment company.
Because he firmly believes in his own judgment, and his situation is that after the loss caused by his operation error, the fund he was in charge of was fired without the opportunity to correct the mistake. In addition, he insisted on looking at the vacant American real estate, which made Many fund companies are worried that hiring him as a fund experience will cause losses to the company's fund because of the views he insists, so they no longer trust him.
It is precisely because of this that he held his breath in his heart, hoping to prove his judgment was correct with practical actions.
Through the eyes of the future, William Chen knew that the subprime mortgage crisis in this world would break out at the end of September. At the same time, he also understands that this kind of investment must be deployed in advance, and it will be too late to start the layout after the crisis breaks out.
Because once the crisis breaks out, many funds will respond quickly. In order to hedge their possible losses will carry out bearish operations accordingly, and the prices of those bonds will be greatly affected.
Therefore, in his plan, after completing this investment in the international purchase price, he will immediately take part of the profit and hand it over to John Paulson to set up a fund dedicated to shorting the real estate market. During this crisis profit in.
…………
Erica came to William Chen's office again and started today's class. In the meantime, Chen William told her about his upcoming study plan. In William Chen's plan, when the teacher in screenwriting and other aspects that Uncle Tom found for him arrived in New York, he was ready to start studying intensively for six days.
Of course, it would be difficult for him to complete these studies in such a short period of time based on his current state, but his reliance is the experience boosting ring in the inventory of the bank in the future. With this, William Chen is willing to give this challenge a try.
In William Chen's plan, he will spend these six days like this: get up at 6 in the morning, run in the morning, and eat breakfast; then he will start the first class at 8 o'clock, and after the 3-hour class, he will End the first class at 11.
Then he'll take an hour for lunch and a short break, starting the second class at 12 o'clock. By the time the second course was completed, it was 3:00 pm; he went on to start the third course, which was from 3:00 to 6:00; another hour was spent eating dinner and doing some other work matter.
Finally, the fourth class starts at 7pm and ends at 10pm. In this way, he still has an hour and a half to deal with things, take a shower, and finally go to bed at 11:30, which leaves him almost six hours of sleep every day.
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