Those Years When I Was Forced to Top the Forbes List

Chapter 109 Recruiting troops
In the evening, Chen Xuebing and Teacher Wu were looking at materials at the hotel.

Real-time trading records are just a bunch of text data, with stock serial numbers and buy/sell points written on them.

By comparing the stock charts on the trading software, it is easy to distinguish the trading style and profitability.

Avoid stocks with a single selection method and too few trading opportunities.

Avoid frequent stock switching and chasing leading stocks.

Of the five sets of materials that Teacher Wu brought over, Chen Xuebing eliminated three in just twenty minutes.

It's not that these three people aren't good, it's just that he doesn't need people who have an advantage solely in stock selection.

When it comes to stock picking, no one is better than him.

Looking at it this way, the two people Chen Xuebing kept were both trading in waves across several stocks, and one of them was actually the one Teacher Wu was planning to eliminate.

"This Liu Zengcheng used to trade futures. He participated in futures competitions and won some awards. In March, he also won the championship in the first phase of the 'East Asia Golden Rooster Cup' stock market real trading competition. I was quite optimistic about him, but his performance in this competition was not very good. There were also problems with the stocks he chose for his heavy investment. He successfully sold at the top on the first day and made a profit of 4 points. However, he bought them back at the low point that day, and the next day he suffered a limit down at the opening."

"Yes, I've seen it. His operations were good several times, just unlucky. What about the other Xu Jin?"

“He’s a veteran trader who has worked for large institutions. He has a very stable style and is quite familiar with stock market rules. He’ll at least make it to the finals this time. Practical experience isn’t actually his strongest point, but his protégés have won many awards. He’s a master of command and fits the definition of a trader. In comparison, Liu Zengcheng should be considered a trader.”

Chen Xuebing shook his head upon hearing these remarks.

"A good trader must first be a good trader. Here, please bring these two people over here."

"Hmm... When you bring them over, you should disclose their base salary, right?"

What are their educational backgrounds like?

"Hmm... Liu Zengcheng graduated from the Law Department of the Central Party School and was originally a civil servant. Xu Jin is a master's graduate who returned from overseas... You know the Delong Group, right? He came from Delong."

"Holy crap." Chen Xuebing was startled: "The Delong Group, they weren't arrested?"

Tang Wanxin, a member of the Delong Group, was arrested just last year.

China's first financial group that can be called a "system" is also the first private enterprise chain whose bankruptcy process can be described as a "collapse".

In the 90s, it acquired three listed companies and controlled more than a dozen financial companies, including securities, insurance, trust, and city commercial banks. It speculated on stocks, inflated stock prices, and illegally absorbed deposits, causing the bubble to grow bigger and bigger. A few years ago, it had assets of 1200 billion yuan.

What was the concept of 1200 billion a few years ago?
Even if you add up the publicly disclosed assets of the top 20 on the Forbes China Rich List, it wouldn't be this much.

This collapse caused a nationwide uproar and directly led to significant improvements in stock market regulations.

When Chen Xuebing was reborn, he saw news about the Delong Group, where dozens of its financial executives had been arrested.

"He was also arrested, but he was a stock speculator and didn't handle any investment funds. He only bought and didn't sell Delong Group's stock price speculation, so there weren't many illegal operations. Therefore, he was only sentenced to seven months and was released early. His business license was not revoked. However, Delong's case is currently in the spotlight, and Tang Wanxin has not yet been sentenced, so no institution will hire him for the time being."

"Hmm..." Chen Xuebing pondered for a while and felt that this person should have some ability.

"Base salary...let them set their own, or you can help me set a suitable price for them."

After Chen Xuebing finished speaking, he took out an envelope from the bag on the sofa. It originally contained five thousand yuan, but he took out another five thousand yuan, put it on the envelope, and stacked it in front of Teacher Wu.

"Teacher Wu, thank you for your help."

Mr. Wu was pleasantly surprised by Chen Xuebing's generosity, but he didn't understand why Chen Xuebing had just stuffed more money into the envelope.

"Mr. Chen, what's going on...?"

Chen Xuebing smiled.

“Five thousand per person, this is ten thousand. I think the two people you recommended are both good.”

Teacher Wu gave an embarrassed smile, but his hand honestly pressed down on the 10,000 yuan.

"Then... Xu Jin gets 30, and Liu Zengcheng gets 15?"

In the financial world, only annual salary matters.

"Okay." Chen Xuebing smiled faintly.

He was secretly pleased, glad he hadn't spoken carelessly earlier.

He pondered that fund managers in later generations would start with one or two million, and some could even exceed ten million. Now, wouldn't they need several hundred thousand?

Damn, money really does last these days!

……

Liu Zengcheng arrived on Monday morning.

He looks like Xiao Shenyang.

With a slightly arrogant attitude, he followed behind Teacher Wu with one hand in his pocket, glancing at Chen Xuebing as he entered.

As soon as Chen Xuebing gestured for them to sit on the sofa, Liu Zengcheng said quite directly:
“Boss, I made 93 million in the futures market back in 100. I’m a master of short-term trading, and there are few people in the country who can match me. 15 a year isn’t enough, I want 25.”

They immediately made outrageous demands, which made the introducer, Teacher Wu, a little embarrassed.

"Heh, Mr. Chen, Liu Zengcheng happens to be near Guangzhou, so you don't need to spend money on travel expenses. You see, if we can talk, great; if we can't reach an agreement, that's fine too."

Chen Xuebing didn't seem to care. He simply pointed to the computer on the desktop and said, "250,000? No problem. There's over 4 million in this account. We haven't made any trades today. Just buy and sell from your watchlist and current holdings. We'll see how the returns go by 3 PM."

Xiao Shenyang sat in front of the computer for a long time, then became somewhat unconvinced.

"Boss, how am I supposed to trade if you don't let me choose the stocks myself?"

Chen Xuebing grinned: "Didn't you make money back in '93? How many stocks and futures were there back then? Just think of the stock market as having only 40 stocks. If you want to work for me, you can only choose stocks to invest in within the framework I set, and the investment in each stock cannot exceed 10% of the total capital."

This wasn't directed at anyone in particular, but rather it was the ironclad rule for future operations.

In today's stock market, only a small number of stocks have completed the reform of circulating shares. Most stocks have a small number of circulating shares. A few million can drive up the price of a small or medium-sized stock. If they were allowed to choose for themselves, they could decide their own investment amount. But who knows, one day their money might be used to buy stocks from others.

Many private equity funds that absconded with investors' money operated in this way. Unable to withdraw their investors' money, they invested in low-quality small-cap stocks, lurking positions within them, or even colluding directly with shareholders to manipulate the market – pumping the price on one side and selling it on the other.

As his capital grows, he may encounter more issues with buying and selling in the future. Diversifying his portfolio and limiting the upper limit of single-stock investments are essential safety margins. Otherwise, even in the best market conditions, he could easily be ruined by a single stock.

Liu Zengcheng hadn't thought of any of this. As a trader, he didn't consider such things too much. Hearing this, he just felt that the boss was deliberately setting a test for him. While looking at the stocks, he chuckled lightly:

"I usually only look at candlestick charts. Even if it's a dead stock with very little trading volume, I'll still buy it if I see signs of recovery. I'm good at pre-emptive operations. If your watchlist doesn't have any signals that I like, I won't buy a single penny of it."

Chen Xuebing's mouth twitched.

You talk a lot.

Like Captain Dragonfly, he came up to me and started giving me rules.

"If you don't like buying, then sell! Selling your holdings at a high point also contributes to your value!"

"Alright, I see that some of your dozen or so positions are already close to short-term resistance levels."

Chen Xuebing shook his head slightly and went to the outer room to make tea.

Teacher Wu noticed Chen Xuebing's actions, followed him, and whispered:

"What's wrong, Mr. Chen? You didn't like it? How about... I'll refund you five thousand?"

Chen Xuebing couldn't help but laugh: "Teacher Wu, you're overthinking it. How could I take back the money I gave you? I don't look down on him, I just feel like punching him." Teacher Wu also laughed: "Top traders who have been in the market for a long time all have strange personalities. Some are quiet, some are not good at talking. But these wild traders who are eliminated from the market are often more capable than those traders trained by master's and doctoral degrees from prestigious universities... Please forgive them."

Chen Xuebing nodded in agreement, finding the term "wild trader" interesting, and glanced at him sideways.

"Mr. Wu, did you also work in finance before? Were you employed at the New Express or... an event consultant?"

"Oh, I work at the New Express! I used to work at a securities company, but the securities company's branch was shut down, and I didn't want to go to the Shanghai headquarters to wait for placement. Luckily, the New Express opened a financial services section, and I majored in journalism in college, so I came here."

Teacher Wu has gotten to know Chen Xuebing better recently and feels that this young Mr. Chen is straightforward and speaks without much restraint.

Chen Xuebing became interested after hearing his story and began to look him over.

"Teacher Wu, it's been so many days and I still don't know your full name."

"Oh, Wu Zisheng!"

Wu Zisheng immediately took out a business card from his shirt pocket and gave it to Chen Xuebing.

His position is "Editorial Board Member of the Financial Section".

The editorial board of a newspaper and the personnel management committee of an agency are two different things. The editorial board of a newspaper is mostly a nominal position, which is basically just an editor. If it is an editor-in-chief or deputy editor-in-chief, then a specific position will be printed on it.

"Mr. Wu used to work in a securities firm, so you must have passed the certification exam, right?"

"Of course." Wu Zisheng sensed a different meaning in those words and proactively replied:

"I have securities practitioner qualification certificate, investment advisor qualification certificate, and fund practitioner qualification certificate. Back then, it was all the rage to take these exams. Unfortunately, I haven't touched fund-related knowledge for a long time, so I have to learn it all over again."

"Relearn".

These three words are important.

The job-seeking aspect is quite strong.

Chen Xuebing didn't play dumb: "Professor Wu, I do have the idea of ​​starting a private equity fund, and I need someone like you, but..."

Wu Zisheng didn't reply immediately. Chen Xuebing glanced at him and then said:
"I think you're around forty, right? That's the time to really work hard! Our country's first fund industry was in 98, and the first version of the Fund Law only came into effect last year. It's a young industry. Are you interested in learning more advanced skills? By the way, how's your English?"

Wu Zisheng understood now; the other party felt that his professional qualification certificate was insufficient and wanted him to continue taking the exam.

"My English... is alright, I have a few foreign friends..."

"Which school did you graduate from?" Chen Xuebing then asked.

"Oh, I graduated from Lanzhou University in 86. Mr. Chen, what do you mean..." Wu Zisheng was getting a little flustered by the question.

A smile appeared on Chen Xuebing's face.

He didn't know about university rankings before, but now he knows quite a bit.

Lanzhou University is a long-established key university, and now it is a Double First-Class University with both 985 and 211 status, so it can be considered a top-tier university.

The overall cultural level of his two previous companies was dragged down by his colleagues, so this time he was determined to build a highly educated company, and he always asked about people's educational background when recruiting.

Moreover, in the financial industry, there's a certain degree of competition involved in this aspect.

Wu Zisheng was a decent person; he was neither arrogant nor humble, and he was willing to give back the money he had taken. He spoke English and had experience in both finance and media. He was very satisfied with Wu.

“Mr. Wu, it’s not that I’m being harsh, it’s just that the tides of this era are moving too fast. My plans for the future include not only developing in the secondary market, but also exploring primary equity investment. What I need are management talents with multifaceted abilities. I think you have management potential. If you are willing to continue learning professional knowledge, I would like to invite you to come here and grow together.”

Upon hearing this, Wu Zisheng knew it was his turn to ask a question.

"Mr. Chen, I heard you say before that this is a stock trading studio, right? Can your funds afford to invest in private equity?"

"Oh, you don't need to worry about that. The current 1200 million is just a trial fund, and it's also part of our own funds. We'll have 7000 million raised soon."

Hong Yongqiang drew a picture of a cake for Chen Xuebing, and Chen Xuebing added some salt and sprinkled some chopped green onions before handing it to Wu Zisheng.

"Oh? It's already confirmed that an investment has come in?"

Wu Zisheng's eyes lit up, and he opened his mouth, wanting more.

Chen Xuebing transforms into Ma Liang, the master painter with a magic paintbrush.

"Teacher Wu, to be honest, our first trial investment has already achieved an annualized return of 120%. The 7000 million is just the first investment, and the funds will continue to flow in."

Two months of 20%, that averages out to an annualized 120%, right?
"120 percent?" Wu Zisheng couldn't believe it and was about to ask a question.

Chen Xuebing raised his hand and said, "You don't need to worry about the funding. I'll only talk to you about the compensation. Your salary is probably less than three thousand, right? I'll give you six thousand, plus a bonus of at least two months' salary at the end of the year. Your salary will increase by 10% every year. If you pass the CFA (Chartered Financial Analyst), FRM (Financial Risk Manager), or CQF (Quantitative Financial Analyst) exams, your salary will double."

He didn't know if such a salary was considered high in the financial industry, but when it comes to hiring, it's not just about experience, ability, and qualifications, but also about personality and first impression.

In addition, it's easier to find highly educated young talents, but it's harder to find older ones.

He's not just starting out; he's aiming to build a group company. The company can't be made up entirely of young people.

College graduates from the 80s are extremely valuable. Wu Zisheng has 40 years of experience and education, and he needs such an experienced "veteran" who understands finance to be a steady and reliable leader for the company.

Of course, Wu Zisheng is probably not professional enough, and we need to motivate him to continue learning and striving for improvement.

Wu Zisheng's throat bobbed.

Chen Xuebing's offer to him was high, but not extremely high; however, it somehow pierced his long-dormant soul.

It had been a long time since anyone had asked him to do that.

When he first entered the securities industry, he had high hopes for his future development and dreamed of becoming a well-dressed industry elite. However, society kept wearing down his edges and no longer needed him to burn brightly.

Burning it won't help either.

He gradually came to accept that he was getting old.

But today, someone suddenly made various demands of him, which made this person, who had started to get used to drinking tea, reading newspapers, and waiting for retirement, start to work hard again.

He was both excited and apprehensive.

"Mr. Chen, I'm already 41, how can I... You also said that the Chinese fund industry is just starting out, I'm afraid..."

The anxiety was all in the unspoken words.

He was afraid that if he went into detail, it would make him seem too poor.

Chen Xuebing understood perfectly, because he had once been one of those who felt uneasy. Wu Zisheng's few words resonated with him deeply.

So he smiled, tore open a packet of Maxwell House instant coffee that the hotel had given him, dissolved it in hot water, and handed it to Wu Zisheng.

"Just have a cup of coffee, change your taste, what's so difficult about that? You college students of the 80s were all the pride of heaven, but China didn't give you so many opportunities back then. Now the times have changed, you're not old, and you can still give it your all, that's lucky."

After saying that, he patted Wu Zisheng on the back.

"Don't let them down."

Wu Zisheng's heart hadn't raced this fast in years. He stared blankly as the young man walked up behind Liu Zengcheng with a cup of tea, casually observing how others were managing millions of dollars. How similar was that to the self he had once dreamed of being!

He gripped the cup tightly, took a sip of the scalding coffee, and felt the heat on his heart, not his mouth.

(End of this chapter)