I am the only one who practices magic: I practice magic in the city

Chapter 438: Wrong Status (5115)

After saying Jiang Nanzhen's name, Robert Capito seemed casual, but in fact he was concentrating on observing Larry Fink's reaction.

It is true that he was "captured" by Jiang Nanzhen, but he did not become an idiot.

The reason why he could promise Jiang Nanzhen to join the Executive Committee must be that it was feasible, otherwise he would not have made such a promise.

This operability comes from Larry Fink and BlackRock's emphasis on ESG and DEI.

ESG is BlackRock’s most important strategic direction at present, without a doubt.

The Alcatraz and Newport office incidents not only failed to dissuade BlackRock from pushing ESG, but instead strengthened their determination.

Because anti-fur consciousness has risen again in the entire Western society.

Ever since the Alcatraz incident, "their" influence in the media field has suffered a severe blow. Whether on the Internet or in traditional media, the amount of bad things about Israel and "them" has increased a hundred times more than before.

People's views on everything are actually guided and instilled. As this kind of remarks become more common, the gender narrative, orientation narrative, and skin color narrative that had been guided by them and gradually became the main contradictions in the West began to recede, and the public's attention returned to "them".

Both Robert Capito and Larry Fink clearly realized that the risks for the Jude people in today's Miami are becoming increasingly greater.

During the past few decades, the Jude people have invested almost all of their chips in the Mai country, and have not yet found the next target to parasitize. If the anti-Jude sentiment in the Mai country becomes stronger, the possibility of a repeat of the tragedy of 70 years ago is small, but not impossible.

For now, in addition to planning the next parasitic target and using all our strength to block the spread of harmful information, using ESG to divert people's attention is more important than before Alcatraz.

This also became an innate advantage for Jiang Nanzhen to join the BlackRock Executive Committee.

Sure enough, when Larry Fink heard Robert Capito say this, he immediately figured out Capito's intention.

"Jane?" Larry Fink nodded with satisfaction. "We do need to further increase our investment in DEI. However, this woman from Da Zhou doesn't seem to have a strong background or ability. Wouldn't it be more appropriate for us to find an African-American to take this position?"

Robert Capito's eyes flickered. "You're right, Larry. However, the reason why I proposed that Jane join the Executive Committee is not just for the promotion of DEI."

"Do you still remember the fund company called 404? I proposed to acquire them at the last executive committee meeting. This is the cumulative rate of return of their second phase No. 4 fund in the first fifty days. You can take a look."

Larry Fink took the pad from Robert Capito, and there was an open PPT on the screen.

"293%!?"

When Larry Fink saw the numbers on the PPT, he sat up straight and pushed up his glasses.

Are you kidding me?
What they are doing is short-term arbitrage, not quantitative analysis.

How can short-term arbitrage have such high returns? Besides, there haven’t been any good investment opportunities in the secondary market in the past two months, right?
"Bennett analyzed their arbitrage model, which is actually mainly based on the identification of risk factors."

“It is the core of their trading model to prefer to make less profit and ensure no loss.”

"In other words, their Woking system can basically identify almost all risks in the current market."

Robert Capito rested his hands on his thighs naturally, and said calmly: "Basically, we can now confirm that the AI-based Woking system has a much higher risk factor recognition accuracy than Aladdin, and the recognition accuracy is more than twice that of Barra and Axioma."

Barra and Axioma are considered Aladdin's competitors in the field of risk control, and their performance is actually far superior to Aladdin's risk module.

But the Woking system is surprisingly stronger than Barra and Axioma!

And it is far ahead of the others!
"404 relies on the Woking system's advantage in risk identification to conduct short-term trading. The profit from each transaction may not be the largest, but due to excellent risk control, more than 70% of losing transactions have been reduced, thus making stable profits."

"The way they use it is undoubtedly a waste of resources. This system can play a greater role in both quantitative and index investment!"

“The advantage of AI lies in its continuous evolution and learning. Perhaps due to the lack of high-quality training data, their Woking system currently does not support index investment and passive investment, but this is precisely our strength. No institution in the world has a more powerful transaction database than BlackRock.”

"In fact, we are not the only one interested in them. As far as I know, Morgan Stanley, Vanguard and UBS are also very interested in their trading strategies. At the same time, several other asset management companies are also in contact with them."

"It's not that easy to successfully acquire 404."

Robert Capito's eyes sparkled. "Jane is one of the developers of the Woking system. She previously worked at 404."

Capito did not draw any conclusions, but laid out all the conditions and let Larry Fink analyze it himself.

Larry Fink's brows were twisted into a knot, and he read the PPT several times.

The rise of AI has set off a new and largest arms race in the financial industry.

Wall Street has been one of the largest consumers of computers since their inception.

Whether it is the earliest trading automation, or the later flash trading and high-frequency trading, to the current quantitative and passive trading, every time a new trading method comes out, Wall Street giants will wave their checkbooks and spend a lot of money to update their equipment.

Wall Street has long been accustomed to this kind of investment.

But the AI ​​revolution is still the largest arms investment in Wall Street's history, far exceeding the supercomputing investment during the quantitative high-frequency transformation period ten years ago.

As one of the three cornerstone funds in the global financial industry, BlackRock naturally invests more in this area.

In the first half of the year alone, BlackRock spent more than $1.5 billion on AI innovation, and is negotiating several acquisitions totaling nearly $5 billion.

Even with so much hot money invested, it may not be successful.

Now, as long as it acquires this small fund company, it will not have to make all the previous investment preparations. At most, it will make some protective acquisitions. BlackRock will be able to complete the AIization of the system before all its competitors!
Larry Fink read the PPT several times, his brows gradually relaxed, and he smiled at Capito: "You old man still have such a keen sense of smell. Rebuilding Aladdin with the Woking system as the core can indeed maintain our long-term competitiveness."

Larry Fink tapped the table with his fingers: "In that case, let's confront Bob as soon as possible."

"However, you still have to comfort him afterwards. After all, we just want to train him, not destroy him."

Robert Capito's eyes flickered and he smiled without saying a word.

Jane, I will definitely do what I promised you.
-

"This whole thing has nothing to do with other people. I put pressure on the approval team and asked them to omit risk items so that the approval could be passed by management as soon as possible. I should indeed take full responsibility and am willing to accept the punishment given by the company."

To Larry Fink's surprise, as soon as he mentioned Chihiro's 3 billion dollar loss, Goldstein calmly admitted his fault and fully accepted the punishment he had just announced.

"Well, actually I..." Robert Capito coughed and was about to speak when he was interrupted by Goldstein.

"The President's Office once raised this risk item. After communicating with Luna, I downplayed this risk item. Therefore, I am indeed the person with the greatest responsibility in this matter."

When Larry Fink heard this, he reacted.

Goldstein is helping Robert Capito avoid responsibility.

In order to make old man Capito not responsible at all, Goldstein actually took all the blame?
Larry Fink couldn’t help but glance at Robert Capito.

This old bald guy has a good disciple who is so loyal to him.

But, does it feel like Goldstein has misunderstood something?
"Well, I don't need to say anything else. Israel is very important to us. I believe that with your ability, you will be able to expand our business in Israel. You can discuss the rest with Rob."

Larry Fink took a sip of his coffee.

Goldstein stood up expressionlessly, glanced at Robert Capito, and turned to leave Larry Fink's office.
-

"Larry didn't mean anything against you." Robert Capito said in a low voice, looking at his proud student with a depressed face in front of him, "Don't worry, after going to Israel, you will be able to return to Mai Country in two years at most."

Goldstein was silent for a while. "Boss, I want to ask, who will take my place? How will the seats of the executive committee be arranged later?"

Capito's eyes flickered. "The COO position will be temporarily cancelled. As for the seat on the Executive Committee, based on the importance of DEI's strategy, Larry and I have discussed and decided to include Jane, the Director of DEI Development, on the Executive Committee."

Goldstein shuddered.

"I object! There must be something wrong with this woman. She cannot be allowed to join the Executive Committee!" Goldstein stood up suddenly, shocked and angry.

"Do you know that this bitch actually framed me in my office?" After saying that, Goldstein suddenly felt something was wrong.

Could it be that... the suspicion that flashed through my mind before was true?

"Boss, don't believe anything this woman says. She's just a show..."

Ouch!
"Enough!" Robert Capito slammed the table hard. Goldstein looked up and saw hatred flashing in Robert Capito's eyes, which scared Goldstein. But when he looked carefully, there seemed to be nothing.

"Your prejudice has blinded you!" Capito shouted angrily, "From the incident with Qianxun, don't you realize how important the Woking system is to us?"

“If the Woking system is obtained by other companies, can you ensure that we can also develop an AI model with the same performance?”

"If Jane is not allowed to join the Executive Committee, who will serve as a bridge of communication between the Executive Committee and 404? Are you an idiot?"

"Look at what you've done recently! Even after being warned of the risks several times, you still made this mistake! It's fine if you want to suppress Yuzu Technology, and it's fine if you want to invest in Qianxun, but your arrogance is the problem!"

"Your arrogance has not only made you lose your humility, but also made you lose your judgment!"

"Three billion dollars! Three billion dollars! You still think it's not a big deal. Don't you know that thirty years ago, Larry and I were kicked out of First Boston for a loss of just one hundred million dollars?"

"This is the largest single investment loss in BlackRock's history! Even if this investment was decided by 'us' together, do you think this will not become your Achilles' heel in the future?"

"Look at your expression when you heard that you were going to Israel! Do you think that letting you go to Israel is to harm you? The three elder rabbis, Isaac, Milam, and Esther, are all in Israel. Don't you understand why I let you go to Israel?"

"This is to get you on good terms with them!"

"I just had cancer surgery last year, and I don't know how long I can hold on! If something happens to me, you can only get their support to eliminate the negative impact of this huge loss and take over BlackRock smoothly after Larry!"

"You really disappoint me!"

Robert Capito's chest heaved, and he was obviously very angry.

Goldstein was speechless. As he suddenly realized what had happened, he felt a huge sense of guilt.

BlackRock is a very typical example of Jude Capital. On the surface, Larry Fink and Robert Capito control the entire company, but in fact they are just spokesmen for Jude Capital.

The elders of the Temple of Jude undoubtedly have a huge influence on Jude Capital.

It is so huge that it can even influence BlackRock’s senior management selection.

The three elders just mentioned by Robert Capito are the three most influential people in Jude Capital.

If we can get their support, it will undoubtedly be of great help to Goldstein's future development.

"Sorry... Boss... I, I..." Goldstein lowered his head in shame.

Thinking back to when I was still doubting that Mr. Capito was suppressing me on purpose because of that woman, and I was feeling sorry for myself because I had taken the blame for the teacher, I never expected that the teacher would think so far ahead for me.

"I understand, boss." Goldstein raised his head, his eyes slightly red, and his expression firm, "I won't let you down."

After saying that, Goldstein bowed deeply to Robert Capito, strode out of Capito's office.

As soon as he walked out of Capito's office, Goldstein took out the satellite phone and pressed the dial button.

"Fishing Cat, act according to the plan." Goldstein whispered to the person on the other end of the satellite phone with a grim look on his face.

Damn Chihiro! Damn Robert! If it weren't for you, I wouldn't have suffered such a big loss!

Since the money is not in your hands, there is no point in keeping it.

I want everyone to see that BlackRock’s money is not so easy to cheat!

If you take something from me, I will make you spit it out!
-

New pickaxe.

"Very good, Grandpa, you have already mastered the trick of cultivation. Don't be disturbed by these noises. Maintain the rhythm of breathing and hold on a little longer. The longer you hold on, the better the effect will be."

"By the way, the health department should have the results of the tranquilizing oral solution I brought last time after testing. Drink a bottle after each practice. It will effectively relieve headaches."

Still in the heavily guarded small building, Fang Yu and Chen Shian sat opposite each other, posing as if in meditation, while a piece of "Dingjun Mountain" was playing on the record player in the corner.

Fang Yu's dozens of mental power lines, like steel ropes tightly wrapped around a hemp core, firmly wrapped around Chen Shian's mental power lines, acting as interfaces to connect the nodes of the magic network.

Soon, beads of sweat appeared on Chen Shian's forehead.

"Hmm~" Chen Shian's eyes went dark, and the line of mental power and the magic network node were automatically disconnected.

This was already the third time he had practiced the breathing method taught to him by his grandson. Every time after practicing it, his head would hurt as if it were splitting open. But as long as he got a good night's sleep, he would wake up feeling refreshed and full of energy.

Ever since he tested this method on Liu Feifei, Fang Yu has been using the banner of teaching qigong to have all his relatives start "practicing".

It can not only help your loved ones achieve extraordinary things, but also speed up the growth of your own mental power. Why not do it?

So far, in addition to my uncle Chen Xi, even my little cousin Yi Yi has been able to successfully connect to the magic network node.

As for Chen Xi, it was purely because of laziness.

In addition, seeing that Zhang Yalan had mastered the technique but there was no change, Chen Xi had even less motivation.

Fang Yu reminded Chen Xi several times, but seeing that Chen Xi didn't take it seriously, he stopped talking.

When your aunt-in-law becomes extraordinary and can drain you dry in one go, you will regret it.

Unfortunately, none of them could construct their own spell model, so they were unable to cast spells.

After all, everyone's spell models are different, and Fang Yu can't take over and help them build them.

Unless they learn Python themselves.

Fang Yu stood behind Chen Shian and gave Chen Shian a head massage with her ten fingers in a special rhythm.

A trace of magic power entered Chen Shian's sea of ​​consciousness from Fang Yu's fingers, soothing his brain nerves that were twitching due to excessive overdraft of mental energy.

And Chen Shian gradually fell into a deep sleep under Fang Yu's massage.

Seeing that Chen Shian had fallen into a deep sleep, Fang Yu tiptoed to pack up his things. When he was about to leave, he felt the Eseran core in his sea of ​​consciousness suddenly move.

Eh? This ball wants to find me for something? This is really rare.

Generally speaking, if I don't set tasks for Youzi, he will basically just muddle through, indulge in watching TV series, and basically won't contact me on his own initiative.

Fang Yu didn't think much about it, and communicated with the Core of Eseran to connect with Yuzi.

"Master! Master! Something bad has happened!"

Yuzu's panicked cry came from the Etheron Core.

"Uncle Wang, grandpa is asleep. Oh, it's okay. He should wake up soon. I'll leave first." Fang Yu went downstairs and said hello to Chen Shian's personal secretary. Then he replied to Yuzu in the Etheron Core, "What's wrong?"

"Ling'er... Ling'er... her condition is not quite right." Youzi said in panic and hesitantly.

Liu Feifei?
Fang Yu was stunned. What was wrong?

And Liu Feifei is not in good condition, how did you know?
(End of this chapter)