The unparalleled talent of the country started from Harbin Institute of Technology

In the end, Bai Doufu's plan to give up was thwarted by her older sister.

During her summer vacation, she had already planned how to make herself more comfortable and realize the dreams she couldn't achieve when she was a child, such as drinking, eating, playing games, and living a life of debauchery.

These seemingly decadent days were actually something she had never experienced before.

Who told her to be born into the Wang family?

At home, the competition is just too intense.

Their mother, Liu Xiaoli, was originally an ordinary person, but she was influenced and became very proactive. In fact, she was the one who pushed her child the most.

Wang Junhong is not Liu Xiaoli's biological son, nor does she need to push him. Wang Junhong is very self-disciplined and became a genius at a young age, spending most of his time studying with his father.

When it came to the second son, Wang Jun'an, his talent was relatively average. However, when he entered middle school, his talent was brought out and he became very self-disciplined.

They even went on to invest in finance on their own, becoming qualified financial investors, and the profits they earned put many experienced financial professionals to shame.

Then came the third son, Wang Junkang, who needed even less encouragement from his children, especially after he decided to join the army, he was quite self-disciplined.

When it was Wang Yifei's turn, she was influenced by her second brother, or rather, she herself was more proactive in competing with her second brother to see who could make more money, so she was very self-aware.

Only Bai Doufu, being the fifth child, was relatively lazy. If it weren't for her older siblings being so smart and accomplished, and her mother constantly using psychological manipulation on her, she wouldn't have been so self-disciplined.

The most deadly one is Gong Yao, who is simply her opposite, her lifelong enemy!

With Gong Yao, this giant 'catfish,' around, it's hard for Bai Doufu to slack off.

If it weren't for the fact that she could vent her emotions through Weibo, she would have been depressed long ago.

That's why she started her life of giving up immediately after finishing the college entrance exam.

She never expected that her older sister would come and end her life like this.

unacceptable!

After returning to her extended family, Bai Doufu went back to her previous lifestyle, and the first thing her mother asked her was to lose weight!
In addition, her schedule has several more items added: learning to drive, summer job experience week, hobby classes, and so on.

There was no tourism involved!

Why?

Because in Lao Wang's family, tourism is not a necessity. After all, Bai Doufu went to the amusement park for most of the day a little over a week before the exam.

Despondent, Bai Doufu is forced to accept her current life.

She is not yet an adult and can only be subject to the control of adults. Even though she has taken the college entrance examination, she was born in December 1993, so she is only fifteen years old and has not yet turned fifteen.

There are still more than three years until I reach adulthood.

She will be considered an adult after graduating from university.

Others can get married after graduating from university, but for her, graduating from university only means becoming an adult.

The gap is still quite large.

In contrast to Bai Doufu's gloomy mood, her second brother and her eldest brother were very busy and fulfilled, and in a very good mood.

First, let's talk about Wang Junhong. He took over the artificial intelligence research and development project planned by Want Want Group and led the theoretical research and development work.

As a mathematics expert, this was the first time Wang Junhong had used his mathematical knowledge to help complete a research project.

This is a manifestation of the application of mathematics.

Within mathematics, there is also a hierarchy of contempt.

There is a gradual process of specialization within the mathematics major, which is essentially a process in which students gradually eliminate areas they cannot learn.

At the very top is geometry, which requires a high level of algebra and analysis.

Next are the algebraic and analytical directions. Basically, eliminating the one that you can't learn determines the general direction of rotation.

If you don't master abstract algebra, you can basically say goodbye to the field of algebra.

Similarly, if one hasn't mastered a series of courses such as mathematical analysis, complex analysis, real analysis, functional analysis, and differential equations, one will basically be excluded from the analysis field.

Most people eventually find that they can't learn algebra and analysis well, which means they don't have the opportunity to engage in basic research, so they end up going into applied mathematics.

Although Wang Yifei was the top scorer in the college entrance examination and had excellent grades, she did not dare to choose basic mathematics as her research direction. In the end, she chose financial mathematics, which is at the lower end of the hierarchy of academic disciplines.

In the hierarchy of academic disciplines, financial mathematics is ranked below applied mathematics.

Of course, the so-called hierarchy of contempt mentioned above is just a joke.

It's not that geometry is truly superior to algebra and analysis, or that basic research is truly superior to applied mathematics. Everything has its limits, and smart people don't stubbornly stick to one path.

For example, Wang Duoyu's achievements in the field of mathematics are indeed dazzling, but he did not stay immersed in his past glory. Instead, he stepped into other fields such as applied mathematics and engaged in the research and development of technological products.

The eldest brother, Wang Junhong, is an example of this. Of course, the theoretical research work on artificial intelligence systems overlaps quite a bit with his previous work.

So far, he is completely at ease with his work on the artificial intelligence project, and at the same time, he is able to learn new knowledge.

Artificial intelligence is a new cutting-edge technology product that refers to computers possessing intelligent capabilities like humans. It is a cutting-edge interdisciplinary field that integrates computer science, statistics, neuroscience, and social sciences, and can replace humans in performing multiple functions such as recognition, cognition, analysis, and decision-making.

For example, Jarvis in Iron Man, this artificial intelligence was a tremendous help to the genius Tony.

Currently, major global internet companies haven't been actively researching artificial intelligence, not because they're unwilling to start projects, but because they're uncertain about the market prospects and profit potential of AI.

Most importantly, the difficulty and cost of technological research and development are beyond the reach of most giants.

Therefore, currently only Want Want Group dares to play such a big game.

Of course, the most important factor is not that Want Want Group has a huge amount of capital, but that it has accumulated technology and that Wang Duoyu knows the future application direction and technology of artificial intelligence.

In the field of artificial intelligence, where he can both learn new knowledge and apply what he has learned, Wang Junhong is both busy and fulfilled, and he really enjoys his current work situation.

As for the second son, Wang Jun'an, he had previously promised his father to help keep an eye on financial investment projects.

2008 was a very special year. It was a US election year and also the year the subprime mortgage crisis broke out.

As early as the end of last year, the subprime crisis had already swept through Wall Street, but it had not yet taken off to become a real force to be reckoned with.

It's June now, and the subprime crisis has already negatively impacted Wall Street financial firms, such as Lehman Brothers. "Gentlemen, what should we do?"

Inside the Lehman Brothers office building on Wall Street, a group of executives, their faces grim, huddled together trying to come up with a solution.

Lehman Brothers was founded in 1850 by Henry and his brothers Emmanuel and Mayer.

In 1858, Lehman Brothers moved its business focus to New York and gradually developed into an important financial institution on Wall Street.

As one of the world's leading stock and bond underwriters and dealers, Lehman Brothers also serves as a key financial advisor to many multinational corporations and governments worldwide, and has a number of well-known analysts in the industry.

Lehman Brothers is currently the fifth largest investment bank in the United States, with 25,000 employees worldwide.

In the original timeline, Lehman Brothers was the fourth largest investment bank in the United States. However, in this timeline, Maple Capital, a subsidiary of Want Want Group, has squeezed into the top four, forcing Lehman Brothers to fall one place.

Lehman Brothers is now facing an unprecedented crisis, and if it is not careful, it will definitely go bankrupt!

Therefore, all of the company's senior executives and major shareholders are present for today's meeting.

"We're in big trouble now, and if we can't handle it well, then we..."

"President Warren Anderson said in a deep voice."

The capital markets were the core business of Lehman Brothers, accounting for 98% of Lehman's total assets and about 85% of its revenue.

Capital market business is divided into two main parts: fixed income and equity. Distributed activities include securities trading, asset securitization, research and consulting support, etc.

The fixed-income category covers a wide range of items, which is currently the most significant source of crisis for Lehman Brothers.

As early as the beginning of the millennium, Lehman Brothers aggressively expanded its real estate and credit business through the acquisition of multiple mortgage lending institutions, deeply involved in the design, origination and trading of mortgage-backed securities and collateralized debt obligations, and at one time became a top underwriter and leader in the field.

"We act as market makers, trading government and municipal bonds, interest rate products, credit products, mortgage-backed securities, mortgage-backed securities, currencies, and commodities. We also design and initiate mortgage-backed products and derivatives within this sector."

Warren Anderson said:

"This fixed-income business, even if it's just a complete chain of production, sale, and trading of subprime mortgage products, represents the two largest components of our company's revenue: interest and dividend income, and trading gains and losses."

"However, our total revenue started to decline in the first quarter, with the largest drop in principal transactions. In the second quarter, our principal transactions revenue was -8293 million, which almost ate up the revenue of our other businesses."

"This is unforgivable!!!"

Upon hearing this, CEO Richard Fuld's lips twitched slightly, but he remained silent.

The other shareholders stared at Richard with hostility, and the major shareholder immediately said, "Richard, I need an explanation."

If the company makes a profit, then everyone celebrates together and all is well.

But the problem now is that the company has suffered huge losses and is almost bankrupt.

8293 million is 82.93 billion US dollars! That's still a negative profit, meaning they owe that much money.

My God, what did Richard do to cause such a huge loss to the company?
“I have nothing to say about that,” Richard Fuld said without offering any explanation.

Because it is now very clear that Lehman Brothers is on the verge of bankruptcy, so if someone is willing to lend a helping hand, then things will be fine.

But who would be the good guy for a company with nearly $10 billion in debt?
There are no good people on Wall Street, only wolves and tigers.

No one wanted to help Lehman Brothers; everyone wanted it to collapse so they could seize the vast market it would leave behind.

Richard didn't explain because when the decision to invest in these subprime projects was made, all shareholders and executives unanimously agreed.

For so many years, everyone has lived in peace and shared the fruits of victory. Those who deserve high salaries receive high salaries, and those who deserve bonuses receive bonuses. Everyone is happy.

Now, with Lehman Brothers on the verge of collapse, none of the shareholders and executives who have profited immensely are willing to step forward and take responsibility.

This is the bloody reality.

It's just typical Wall Street behavior; there's nothing to explain.

However, major shareholders were still reluctant for Lehman Brothers to collapse, after all, the company had a century-long history, and many shareholders were still very willing to buy its stock.

Furthermore, the major shareholder hopes to sell off their shares before the stock price plummets.

However, it is impossible to find such a buyer in a short period of time.

Ugh!
Therefore, the major shareholders pressured executives like Richard and Warren Anderson to find a way to immediately disrupt Lehman Brothers and see if they could get some money to avoid a disastrous second-quarter financial report.

Lehman Brothers' financial reports were shocking; the extent of their losses was not widely known to the outside world.

However, Wang Junan knew this very well.

Inside the villa on the lakeside island of Harbin Institute of Technology in Harbin, the "Ice City".

Wang Junan had just finished a day's work and returned home when he saw his father sitting on the sofa, with his sister Wang Yifei sitting next to him.

"Dad, are you on vacation?"

"Yeah, you're really busy. I didn't even see you when I came back last time," Wang Duoyu said with a smile.

In early June, after taking the college entrance examination, Bai Doufu went home and stayed for more than a week.

As a result, Wang Junan went to the United States and did not stay in China.

It's almost all sorted out now, and that's when I got back to China.

"It's really busy, but it's exciting and interesting." Wang Jun'an immediately sat down and excitedly reported the situation to his father.

"Lehman Brothers' first-quarter financial report was terrible. Although the second-quarter report has not yet been released, we have already determined that they lost at least eight billion dollars."

"Our unrealized gains this time are at least seven billion dollars. Dad, your foresight is truly amazing!"

hum!
Upon hearing this, a collective gasp filled the living room.

Huang Huiru, Dai Junzhu, and Guan Xin, the three daughters-in-law, were all present. It was the first time they had ever heard that Wang Junan's investment projects were so profitable.

A single investment could generate over seven billion US dollars in profit; such returns are truly terrifying.

Wang Yifei's eyes lit up:
"Wow, wouldn't that be a fortune? Lehman Brothers lost so much, wouldn't the other investment banks that invested in subprime mortgages and real estate suffer the same fate? Second Brother, how much money will we ultimately make?" (End of Chapter)