A Returner’s Successful Investment Method - Chapter 641



Only Krnovel

Episode 641. malay scandal (2)

Trish was startled by my words.

“really? “Didn’t all the Hollywood celebrities come there?”

“It seems like that.”

“Have you seen Leon Laclair’s new lover?”

“Who is that?”

Since he dated more than one woman, I don’t even know their names.

Anyway, I think I saw him hugging and kissing a girl who looked like a model.

“There were a lot of pretty women there, right?”

“I think so.”

Everyone was gathered around Eden Craig.

If all the good-looking guys died… … .

Trish asked with a slightly blunt expression.

“Who was the prettiest there?”

“well.”

Actually, I don’t even remember.

Because from the moment I met Ming Liu, my mind was full of thoughts about what would happen in the future.

“I don’t think there was anyone prettier than Trish.”

“Eck!”

Trish’s face instantly turned red at those words.

“No, don’t be kidding. “There must have been a lot of models there.”

“Hey, what’s so great about models?”

Of course it’s amazing.

In the first place, if you come to Leon Laclair’s party, you are not just a model, you are a top model.

However, because she usually goes about things half-heartedly, Trish’s appearance is as good as that of any model.

She’s tall, has a nice body, and has a pretty face. Wouldn’t she look amazing if she dressed up?

“What is it? “If you keep teasing me, I’ll get angry.”

Despite his words, his expression was good and I didn’t know what to do.

I laughed to myself when I saw that.

After all, I’m not good at compliments.

“There was one more interesting thing that happened there.”

“What is it?”

“There is a person who is Leon Laclair’s best friend… … .”

I told him about meeting Ming Liu.

Trish tilted her head.

“Ming Liu? “I think I’ve heard of it.”

“Do you know 1IDB?”

“ah! i know. “It’s a Malaysian state-owned investment company.”

As expected, you know this as a journalist.

“that’s right. It appears that this person named Ming Liu is currently serving as an advisor to 1IDB.”

“If it’s advice… … “Aren’t we just giving investment advice?”

“It would be like that originally.”

There is a separate representative of 1IDB, and strictly speaking, Ming Liu is merely an advisor and not the person in charge.

but… … .

Positions are assigned responsibilities and authority, and a check and control system also exists.

But what if a person without a proper position only wields authority?

Then there is no responsibility and no checking mechanism.

In other words, no one cares what you do.

I said, leaning forward slightly.

“I think this person is a bit suspicious.”

Trish pricked up her ears at my words.

“What?”

“We have to find out about that now.”

Trish looked depressed.

“what? “Are you doing this without even knowing?”

“If done well, this could be a huge scoop.”

Trish’s eyes widened at the word scoop.

“Really?”

“yes. “After we finish eating, we’ll go to work and finish talking.”

Then Trish quickly put the remaining hamburger in her mouth and took a shot of beer.

“what are you doing? “Let’s go!”

* * *

After leaving O’Connor Pub, Trish and I headed to Continue Capital’s headquarters.

Then Trish said:

“where are you going? “It’s this way.”

“what… … ah!”

You moved while I was away, right?

I almost went back to my old place.

“Follow me.”

“yes.”

I followed the guidance of Trish, a New Yorker.

And after a while, we stopped in front of a building.

When I see the words ‘Continue Capital’ written on the building, I am deeply moved.

Does it feel like you’ve finally found your own home after all the hardships you’ve had living in rent?

Moreover, this is the middle of Wall Street, famous for expensive building prices.

How many investment companies have their own buildings in places like this?

Wouldn’t it be safe to say that this is a success?

Trish saw my expression and said,

“You made so much money, are you impressed by just one building?”

“Because I have Korean blood flowing through me.”

“What does it mean?”

“It means that Koreans like real estate.”

That’s why people in other countries give up on buying a house if they don’t have money, but Koreans take their souls and buy it.

Perhaps because he had told us in advance that he would come, David came directly to the entrance and greeted us.

“welcome.”

We exchanged warm greetings.

“How have you been?”

“of course.”

It feels like meeting an old friend again.

“I think you’ve become even more handsome.”

David chuckled.

“Thank you for the compliment. “First, I will show you to the boss’s office.”

We followed David into the elevator.

We arrived at the top floor.

As soon as she entered the office, Trish burst out in admiration.

“wow! “It’s so nice here.”

There are desks and sofas in the spacious space, a secretary’s office outside, and a shower room and lounge inside.

Space is space, but what I like most is the open view beyond the glass wall.

“Is this my office?”

“That’s right. “This is the office that Michael Preston originally used.”

“is it so?”

Michael Preston once built an invincible reputation by succeeding in all his investments, and wealthy people came to him with money and begged him to allow them to invest.

Shark Management was on a roll, but they lost face after failing one after another, starting with Thomas Motors.

And during the Game Start incident, he suffered huge losses by engaging in short selling.

The final blow was the purchase of Sunir Motors bonds.

Eventually, Sunir Motors went bankrupt and Shark Management also collapsed.

Who would have imagined that Shark Management, which once dominated Wall Street, would go bankrupt?

If I had hired David a long time ago, that wouldn’t have happened.

I once again realize that there are no eternal winners in this world.

I should retire quickly before I fall behind.

I stood at the window for a moment and looked down at downtown Wall Street.

As I am doing this, I feel like I have become a greedy capitalist who only cares about money.

okay. After all, money is the best.

I will have to work harder to earn more in the future.

“How’s Maggie doing?”

“yes. Very healthy. How about having dinner together tonight? “Maggie also wants to see Boss a lot.”

“uh! “Is that so?”

Trish said quietly.

“Can I go too?”

“of course. “Maggie would love it.”

After chatting for a bit, we started talking about work in earnest.

“I investigated Ming Liu as you instructed.”

Trish and I looked at the material David had given us.

Current age is 36 years old.

Nationality is Malaysia.

As you can see from the name, they are Chinese.

His grandfather was a businessman from Guangdong Province who came to Malaysia via Hong Kong. He steadily accumulated wealth through liquor business and real estate investments.

Thanks to this, it was a family that lived well enough to be considered a wealthy person, if not a chaebol.

After attending middle school in Malaysia, he later went to England to study and entered Eton College.

Here, he became friends with the British upper class and children of prominent families.

And here he meets someone who will change his life.

This is Lizzy Lime.

I’ll look at the explanation later… … .

Anyway, after finishing his studies in England, Ming Liu entered the Wharton School, a business school in Pennsylvania, where he again became friends with financiers and businessmen.

Trish stuck her tongue out.

“They’re so elite.”

“Iknow, right.”

At this rate, wouldn’t graduates from Korean universities not even be able to hand out business cards?

“After graduating from college, Ming Liu began investing in earnest at the age of 25. In order to manage her family’s assets, she established a private equity fund called WM Cross in Hong Kong, and appears to have received investments from several sources. “She seems to have mainly participated in consortia and made investments in real estate and M&A.”

“How is your investment performance?”

“I advertised that I had achieved great success in several investments… … I don’t think I’ve really made much money. On the other hand, it doesn’t seem like there was any major loss.”

“okay.”

Anyway, up to this point, it can be said to be great enough.

Of course, investors with this level of experience abound on Wall Street.

But the really great thing starts now.

To understand what is happening, you need to know about 1IDB.

When it comes to buildings that symbolize Malaysia, everyone will think of the Petronas Twin Towers.

This building was built by PETRONAS, Malaysia’s national oil company.

Malaysia is an oil-producing country, with the oil industry accounting for a whopping 20% ​​of GDP and 30% of national finances.

Countries that make money by selling resources often use that money to invest overseas.

Representative examples include the Norwegian Sovereign Wealth Fund (GPFG) and the Saudi Arabian Sovereign Wealth Fund (PIF).

Prime Minister Binti Lime, who won the general election, announced a huge project to increase the assets of Malaysians and establish a sovereign wealth fund to promote overseas investment.

So a state-run investment company called 1IDB (1 Invest Development Berhad) was born.

David said.

“This is where Ming Liu appears again. He had a long-standing friendship with Lizzie Lyme, whom he met at Eton College. And the father of this Lizzy Lime is Vinti Lime.”

“So Binti Lime became the Prime Minister of Malaysia.”

“That’s right. “It seems like Ming Liu played quite a role in the election process.”

In the process, he gained the trust of Prime Minister Binti Laim.

Trish nodded.

“ah! That’s why I was able to serve as an advisor.”

As he is his son’s friend, has experience in the investment industry, and has a wide network of contacts, he is said to have trusted him and entrusted him with various tasks afterward.

David said.

“My guess is that 1IDB may have been designed by Ming Liu.”

“really?”

“yes. “This is something you can’t do unless you know the global financial system well.”

As expected, it’s sharp. I nodded.

“That would be very likely.”

There is a good reason for thinking this way.

This is because 1IDB was established without any capital, virtually without capital.

The money earned from selling oil has already been used and cannot be spent carelessly. However, it does not make sense to collect taxes and spend them on a sovereign wealth fund.

Trish asked as if she didn’t understand.

“Then how did 1IDB raise the investment funds?”

“It’s a bond issuance.”

It is a great plan to first issue bonds, use the money to make investments, and then repay the bonds with the money earned from selling oil.

Since these are bonds issued by a state-run investment company, it is virtually as if the Malaysian government has guaranteed payment.

Moreover, since you can extract the oil from the ground and sell it, there will be no need to repay it.

As 1IDB was established for global investment, most of the bonds were issued in dollar denominations in the United States, Singapore, and Hong Kong.

Of these, a whopping $7 billion worth of bonds were issued in the United States alone.

“Where is the 1IDB bond issued?”

David answered my question in one word.

“This is Richman Sachs.”