Allen quantifies digital currency transactions
Publish: 2021-04-07 20:15:20
1.
As a blockchain project, license is one of the important compliance documents of the exchange. It is equivalent to a business license. In particular, after Huoyuan won the Japanese license, the US license and applied for the Canadian license, the license was pushed to a new height. Obtaining the US MSB license also means that the company can reasonably conct business in most states of the United States. This is the reason why the major exchanges have started to apply for licenses. If they want to carry out business formally and legally, they have to apply for licenses
the basic process of applying for MSB license in the United States is to provide a company name and director information to register an ordinary company in the United States, and then the American company applies for the MSB license as a regulatory condition, First of all, people in the traditional foreign exchange circle know the importance of the regulatory license of the foreign exchange platform. Even this traditional mode will create a future blockchain trading platform. Therefore, blockchain exchange license is bound to become a trend of development
2. Basic study of Economics: microeconomics, macroeconomics, accounting, corporate finance, technical analysis of stock market trend, etc
basic learning of management: principles of management, management psychology, etc
I majored in management in University, but some textbooks are rubbish, so I directly recommend them. In addition, many books on economics and management are in foreign languages. It is recommended that you read the original version directly and learn foreign languages at the same time
after having a general understanding of economics and management, we can expand our reading range. For example, there are some famous magazines in Harvard University, such as business week, Forbes, Harvard Business Review, etc. If you don't like foreign languages, magazines like professional manager are also good. Another learning method, I think, is the best way for self-study. It is to study monographs written by different people. For example, you can download the monographs of Lang Xianping and Wu Jinglian. If you don't understand the problems mentioned in their articles, you should understand them first. In this way, you can learn a lot. First of all, they are both famous economists, and they have different views on the domestic economic reform. In addition, their articles are easy to find online, so they don't have to spend a lot of money to buy books
the two books mentioned by friends upstairs, "the earth is flat" and "currency war" are also good books. However, I think it's better to learn some basic theories first at the beginning. Otherwise, it's easy for people to become lazy and develop the problem of not seeking to understand them.
basic learning of management: principles of management, management psychology, etc
I majored in management in University, but some textbooks are rubbish, so I directly recommend them. In addition, many books on economics and management are in foreign languages. It is recommended that you read the original version directly and learn foreign languages at the same time
after having a general understanding of economics and management, we can expand our reading range. For example, there are some famous magazines in Harvard University, such as business week, Forbes, Harvard Business Review, etc. If you don't like foreign languages, magazines like professional manager are also good. Another learning method, I think, is the best way for self-study. It is to study monographs written by different people. For example, you can download the monographs of Lang Xianping and Wu Jinglian. If you don't understand the problems mentioned in their articles, you should understand them first. In this way, you can learn a lot. First of all, they are both famous economists, and they have different views on the domestic economic reform. In addition, their articles are easy to find online, so they don't have to spend a lot of money to buy books
the two books mentioned by friends upstairs, "the earth is flat" and "currency war" are also good books. However, I think it's better to learn some basic theories first at the beginning. Otherwise, it's easy for people to become lazy and develop the problem of not seeking to understand them.
3. Investment Banking Division: deals directly with companies that issue stocks and bonds,
is responsible for most of the preparatory work of IPO or bond issuance. Some investment banks put the fixed income department outside the investment banking department, which is only responsible for issuing stocks; However, most investment banks still combine stocks and fixed income into investment
banking department, and only set up equity team, fixed income team, money market
team and so on under the investment banking department<
capital market division: after the investment banking department completes the preliminary preparation, the capital market department is responsible for investigating the needs of the buyer's customers (mainly institutional investors), determining how many stocks or bonds should be issued, and determining the approximate price range. Some investment banks also put sales and transactions in the capital market department
in general investment banks, the capital market department is a layer of cheese sandwiched between the investment banking department and the sales and trading department, and its development prospects are relatively small<
sales and trading division: after the investment banking department and the capital market department have completed all the preparatory work, the sales and trading department is responsible for directly dealing with the buyer's customers and successfully completing the sales task of stocks or bonds. After the listing of stocks or bonds, the sales and trading department is also responsible for stabilizing the stock price, assisting
dealers to decide whether to issue additional shares, and so on<
merger and acquisition Division: responsible for consulting the merger and acquisition instry of other companies, including merger strategy, selection of merger objects, determination of merger methods, financing for merger and acquisition,
and helping the acquired objects to carry out anti takeover, etc. Some investment banks put the M & a department in the investment banking department< The M & a department is the fastest growing investment banking department in recent years<
Research Division: responsible for providing research services for other departments and even other companies, including equity research, fixed income research, merger and acquisition research, macroeconomic research, etc. It is no exaggeration to say that the research department is the foundation of other departments of investment banks. Without a large amount of information provided by researchers, IPO and merger are unlikely to happen<
asset management division: manages assets for clients, mainly managing funds or setting up accounts independently, similar to the work of traditional fund companies. Twenty years ago, most investment banks did not have an asset management department,
but now the investment banking business and fund business are increasingly integrated, and some funds have begun to do investment banking business; In a word, the asset management department is the Department that most investment banks focus on at present<
prime brokerage division: provides brokerage services for institutional investors, especially mutual funds or hedge funds. It mainly involves large amount of transactions, which is essentially different from retail brokerage. Some investment banks put the prime brokerage department and the sales and trading department together, because the nature of their work is very similar<
private equity group: use its own funds or raise funds for private equity investment,
that is, invest in non listed companies, or buy out the listed companies to make them become non listed companies. Private equity business is another major growth point of investment banking business in recent years<
principal investment group: use its own funds for short-term trading or long-term investment. It is a controversial topic for investment banks to invest on their own, because it is difficult to take the interests of customers into consideration. Some investment banks mix self investment, private equity and even asset management, which leads to greater conflicts of interest
according to the salary level of each department:
1 private equity Department
2 investment banking department
3 merger and Acquisition Department
according to the development prospect:
1 sales and trading department
2 research department
3 investment banking department
investment banks help enterprises and governments issue securities, help investors purchase securities and manage financial assets, Conct securities trading and provide financial consulting services. Leading investment banks include Merrill Lynch, Salomon Smith Barney and Morgan Stanley Dean Witter; Stanley) and Goldman Sachs (Goldman Sachs). These investment banks operate in huge markets Other investment banks operate only in one region, or in medium-sized markets Such as Piper Jaffray). There are also some small professional companies called "boutiques". They are likely to focus only on stock trading, M & a consulting, technical analysis or project trading. These companies have a deep understanding of certain securities. The company is made up of different departments. In most companies, securities holders trade, and issuers (companies and governments) engage in investment banking. It is worth noting that the investment banking market has been weak since the spring of 1999 e to the impact of last year's events, such as the devaluation of Brazil and the insolvency of Russia. Unemployment is widespread and likely to continue. Nevertheless, there are still many people who believe that there are many employment opportunities, especially in the telecommunications instry, in the European market and in the field of e-commerce. In fact, as long as people can pay attention to their own skills training, keep learning, do more information consultation and actual investigation, the problem will be easy to solve. If you look at the investment banking market in 1998 / 99, you will be warned that you must be fully prepared and have the spirit of balance when looking for a job in this instry. Maybe the best job next year will be in corporate American or other fields, such as market research. Large scale companies always have a lot of employees and are highly mobile. Note: the impact of the current market deterioration is likely to accelerate the stability of the investment banking sector< In an interview with the Italian business daily sole / 24 ore, Allen wheat, chairman and general manager of Credit Suisse First Boston, President of investment banking of Credit Suisse Group, said, "the deterioration of the financial market has accelerated the change of the banking instry, especially the graal formation of a stable process. Apart from Credit Suisse, only the European banks with the potential to develop in the international market are UBS AG. " But they have slowed down in investment banking. Deutsche Bank may "come back to the game by buying bank of America." He was quoted in the newspaper. Some institutions, such as Lehman, Bankers Trust and even J.P. Morgan, are destined to be merged. On September 3, referring to the strategy of CSFB (Credit Suisse First Boston) towards Russia, the bank's foreign exchange balance amounted to US $2.15 billion. Wheat said the bank's strategy was very clear, but unfortunately the results were unsatisfactory
ability and requirements investment banks want their employees to have strong analytical and social skills. Some jobs are more focused on one skill For example, brokers are mainly sellers.) An asset analyst's job requires analytical and social skills. The required abilities include:
social skills: strong, sales skills: general communication skills: strong; Analytical ability: strong
comprehensive ability: strong, creative: strong, innovative: average, working hours: 50-90 / week
it shows that investment banking is a high-level, high-risk and high return instry. When you enter the instry, you usually work longer hours, but it's really exciting. So be prepared to accept the frustration when you're overtired and the joy when you're doing well
it is relatively difficult to develop investment banking business. Therefore, you should be prepared to constantly look for companies that may have opportunities to cooperate after your own conditions are fully met. Investment bankers are generally the object of social contempt in movies. Are they really greedy narcissists? They may be, but don't forget that people's quality of life is constantly changing as they bring capital into the company. In this process, they played a decisive social role
MA
many college graates start as analysts when they first enter investment banks. To succeed in this job, you must have special skills, good skills in dealing with spreadsheets, and be able to analyze problems clearly. Next, you may become a partner. It requires the same skills, just higher requirements. In the middle of your career, generally, your success depends on your ability to communicate with customers and successfully do business. At the same time, you need to understand the market situation, the political and macroeconomic situation and the operation mechanism. Some jobs in investment banks require strong mathematical skills. If you are good at mathematics, you can consider taking a higher degree in science and Engineering (such as stochastic calculus and differential equations). Then continue to take a few deeper financial courses in subjects such as pricing and stock evaluation. Finally, apply for a R & D department on Wall Street Carnegie Mellon's fast course is one of the best to train math and physics talents for working on Wall Street.)
in the work of most analysts, it is very important to analyze financial figures correctly. If you want to be a securities analyst, you must strive to get the title of CFA. If one day, you want to engage in "financing" business, and become a financial analyst of the company, you'd better consider taking CMA (certified management accountant). It's hard to say what kind of person is a good trader. But at least you must be able to fully understand the market, react quickly and make accurate analysis. I suggest you read Michael Lewis's liars poker. You will learn a lot about trading
most companies do not have offices in New York. Although you want to work in other places, your main job search is likely to be in New York. Other places worth your attention include Hong Kong, Tokyo, London, Moscow and Singapore. If you're looking for an investment banking job, you should go to New York more times. The key to success in investment banking is group collaboration. Being able to unite everyone and serve customers together is a huge challenge, and the return is likely to be very high< There is no doubt that people with scientific and legal background are very valuable to investment banks. Scientists can do anything from computing financial derivatives to bioengineering. Lawyers can help design new securities, conct leasing operations and use their outstanding analytical skills to communicate with clients. That is to say, it's necessary to learn to sell yourself. It's not a bad thing to go back to a famous university for an MBA. Then reconsider looking for a job in investment banking
the key to enter the investment banking instry
is responsible for most of the preparatory work of IPO or bond issuance. Some investment banks put the fixed income department outside the investment banking department, which is only responsible for issuing stocks; However, most investment banks still combine stocks and fixed income into investment
banking department, and only set up equity team, fixed income team, money market
team and so on under the investment banking department<
capital market division: after the investment banking department completes the preliminary preparation, the capital market department is responsible for investigating the needs of the buyer's customers (mainly institutional investors), determining how many stocks or bonds should be issued, and determining the approximate price range. Some investment banks also put sales and transactions in the capital market department
in general investment banks, the capital market department is a layer of cheese sandwiched between the investment banking department and the sales and trading department, and its development prospects are relatively small<
sales and trading division: after the investment banking department and the capital market department have completed all the preparatory work, the sales and trading department is responsible for directly dealing with the buyer's customers and successfully completing the sales task of stocks or bonds. After the listing of stocks or bonds, the sales and trading department is also responsible for stabilizing the stock price, assisting
dealers to decide whether to issue additional shares, and so on<
merger and acquisition Division: responsible for consulting the merger and acquisition instry of other companies, including merger strategy, selection of merger objects, determination of merger methods, financing for merger and acquisition,
and helping the acquired objects to carry out anti takeover, etc. Some investment banks put the M & a department in the investment banking department< The M & a department is the fastest growing investment banking department in recent years<
Research Division: responsible for providing research services for other departments and even other companies, including equity research, fixed income research, merger and acquisition research, macroeconomic research, etc. It is no exaggeration to say that the research department is the foundation of other departments of investment banks. Without a large amount of information provided by researchers, IPO and merger are unlikely to happen<
asset management division: manages assets for clients, mainly managing funds or setting up accounts independently, similar to the work of traditional fund companies. Twenty years ago, most investment banks did not have an asset management department,
but now the investment banking business and fund business are increasingly integrated, and some funds have begun to do investment banking business; In a word, the asset management department is the Department that most investment banks focus on at present<
prime brokerage division: provides brokerage services for institutional investors, especially mutual funds or hedge funds. It mainly involves large amount of transactions, which is essentially different from retail brokerage. Some investment banks put the prime brokerage department and the sales and trading department together, because the nature of their work is very similar<
private equity group: use its own funds or raise funds for private equity investment,
that is, invest in non listed companies, or buy out the listed companies to make them become non listed companies. Private equity business is another major growth point of investment banking business in recent years<
principal investment group: use its own funds for short-term trading or long-term investment. It is a controversial topic for investment banks to invest on their own, because it is difficult to take the interests of customers into consideration. Some investment banks mix self investment, private equity and even asset management, which leads to greater conflicts of interest
according to the salary level of each department:
1 private equity Department
2 investment banking department
3 merger and Acquisition Department
according to the development prospect:
1 sales and trading department
2 research department
3 investment banking department
investment banks help enterprises and governments issue securities, help investors purchase securities and manage financial assets, Conct securities trading and provide financial consulting services. Leading investment banks include Merrill Lynch, Salomon Smith Barney and Morgan Stanley Dean Witter; Stanley) and Goldman Sachs (Goldman Sachs). These investment banks operate in huge markets Other investment banks operate only in one region, or in medium-sized markets Such as Piper Jaffray). There are also some small professional companies called "boutiques". They are likely to focus only on stock trading, M & a consulting, technical analysis or project trading. These companies have a deep understanding of certain securities. The company is made up of different departments. In most companies, securities holders trade, and issuers (companies and governments) engage in investment banking. It is worth noting that the investment banking market has been weak since the spring of 1999 e to the impact of last year's events, such as the devaluation of Brazil and the insolvency of Russia. Unemployment is widespread and likely to continue. Nevertheless, there are still many people who believe that there are many employment opportunities, especially in the telecommunications instry, in the European market and in the field of e-commerce. In fact, as long as people can pay attention to their own skills training, keep learning, do more information consultation and actual investigation, the problem will be easy to solve. If you look at the investment banking market in 1998 / 99, you will be warned that you must be fully prepared and have the spirit of balance when looking for a job in this instry. Maybe the best job next year will be in corporate American or other fields, such as market research. Large scale companies always have a lot of employees and are highly mobile. Note: the impact of the current market deterioration is likely to accelerate the stability of the investment banking sector< In an interview with the Italian business daily sole / 24 ore, Allen wheat, chairman and general manager of Credit Suisse First Boston, President of investment banking of Credit Suisse Group, said, "the deterioration of the financial market has accelerated the change of the banking instry, especially the graal formation of a stable process. Apart from Credit Suisse, only the European banks with the potential to develop in the international market are UBS AG. " But they have slowed down in investment banking. Deutsche Bank may "come back to the game by buying bank of America." He was quoted in the newspaper. Some institutions, such as Lehman, Bankers Trust and even J.P. Morgan, are destined to be merged. On September 3, referring to the strategy of CSFB (Credit Suisse First Boston) towards Russia, the bank's foreign exchange balance amounted to US $2.15 billion. Wheat said the bank's strategy was very clear, but unfortunately the results were unsatisfactory
ability and requirements investment banks want their employees to have strong analytical and social skills. Some jobs are more focused on one skill For example, brokers are mainly sellers.) An asset analyst's job requires analytical and social skills. The required abilities include:
social skills: strong, sales skills: general communication skills: strong; Analytical ability: strong
comprehensive ability: strong, creative: strong, innovative: average, working hours: 50-90 / week
it shows that investment banking is a high-level, high-risk and high return instry. When you enter the instry, you usually work longer hours, but it's really exciting. So be prepared to accept the frustration when you're overtired and the joy when you're doing well
it is relatively difficult to develop investment banking business. Therefore, you should be prepared to constantly look for companies that may have opportunities to cooperate after your own conditions are fully met. Investment bankers are generally the object of social contempt in movies. Are they really greedy narcissists? They may be, but don't forget that people's quality of life is constantly changing as they bring capital into the company. In this process, they played a decisive social role
MA
many college graates start as analysts when they first enter investment banks. To succeed in this job, you must have special skills, good skills in dealing with spreadsheets, and be able to analyze problems clearly. Next, you may become a partner. It requires the same skills, just higher requirements. In the middle of your career, generally, your success depends on your ability to communicate with customers and successfully do business. At the same time, you need to understand the market situation, the political and macroeconomic situation and the operation mechanism. Some jobs in investment banks require strong mathematical skills. If you are good at mathematics, you can consider taking a higher degree in science and Engineering (such as stochastic calculus and differential equations). Then continue to take a few deeper financial courses in subjects such as pricing and stock evaluation. Finally, apply for a R & D department on Wall Street Carnegie Mellon's fast course is one of the best to train math and physics talents for working on Wall Street.)
in the work of most analysts, it is very important to analyze financial figures correctly. If you want to be a securities analyst, you must strive to get the title of CFA. If one day, you want to engage in "financing" business, and become a financial analyst of the company, you'd better consider taking CMA (certified management accountant). It's hard to say what kind of person is a good trader. But at least you must be able to fully understand the market, react quickly and make accurate analysis. I suggest you read Michael Lewis's liars poker. You will learn a lot about trading
most companies do not have offices in New York. Although you want to work in other places, your main job search is likely to be in New York. Other places worth your attention include Hong Kong, Tokyo, London, Moscow and Singapore. If you're looking for an investment banking job, you should go to New York more times. The key to success in investment banking is group collaboration. Being able to unite everyone and serve customers together is a huge challenge, and the return is likely to be very high< There is no doubt that people with scientific and legal background are very valuable to investment banks. Scientists can do anything from computing financial derivatives to bioengineering. Lawyers can help design new securities, conct leasing operations and use their outstanding analytical skills to communicate with clients. That is to say, it's necessary to learn to sell yourself. It's not a bad thing to go back to a famous university for an MBA. Then reconsider looking for a job in investment banking
the key to enter the investment banking instry
4.
At present, there are many MSB licenses in the United States, which belong to a kind of financial license under the registration system. That is to say, as long as you submit an application, you can issue the license. The difficulty of handling the currency application system is much smaller. Why does the exchange want this US MSB license
1. Investor recognition - the company law and financial supervision in the United States are very perfect. With the U.S. license, your digital currency trading platform will be more recognized by global investors
2. Get authoritative approval - with the authoritative approval of the U.S. Treasury Department, you can carry out relevant business in the United States and around the world, which represents the compliance supervision of digital currency platform
3. Becoming a first-line platform - MSB license is also a standard license for global digital currency trading institutions. Platforms such as coinbase, bitfinex, poloniex and hotcoin.com all hold this license to operate
4. Diversified services - MSB license allows currency exchange and delivery services, so that you can better meet customer needs and provide more diversified services
the conditions for registering the MSB license in the United States:
the information required for establishing a local company
the registration time of a U.S. company is about 7 working days
< P > the information for applying for a license:1, the information of a previously registered U.S. company
2, the application for a U.S. tax number
3 Due diligence documents
the current operation status of the exchange (if the exchange is currently in operation) and most of the information are prepared by lawyers ·
US MSB license, with low registration cost and fast application time, is the lowest application fee among the current financial license
the application time is about one week
5. Because investment banks have great potential for development, there are mainly the following four points:
four new opportunities for the development of investment banking business
it is generally believed that the development opportunities of investment banking business come from excess liquidity, which leads to the rise of asset prices, the rise of bulk raw material prices, the expected interest rate increase in the future and the continuous appreciation of RMB
first of all, the rise of asset prices, especially those with good liquidity, such as real estate and stock equity, makes social capital flow to these assets, which makes these assets proce a premium. For enterprises, direct financing has been able to rece the cost of financing. If they can get premium income by issuing shares, they will definitely be willing to take equity financing instead of bank loans. Recently, the Shanghai Port Authority has obtained the overall listing qualification through Shanghai container terminal, and the issuance of shares of Bank of China and Daqin Railway show that the enterprises are taking advantage of the favorable opportunity of the capital market to accelerate the pace of listing. As far as the financial regulatory authorities are concerned, the increase of the proportion of direct financing can not only rece the bank risk, but also rece the pressure of excess liquidity brought by the increase of bank deposits, which is naturally what they are willing to see. And the investment banking department can obtain considerable underwriting fee income through this business, so as to strengthen its strength
in addition, the rising cost of upstream raw materials will also force enterprises to integrate resources through mergers and acquisitions to achieve the purpose of recing costs. For example, through vertical merger and integration of instrial chain to rece costs; Through horizontal merger and acquisition to rece competitors in order to improve the bargaining power of procts. These M & A activities are also inseparable from the participation of investment banks, which also brings opportunities for the development of investment banking business
moreover, RMB appreciation is concive to recing the cost of overseas investment. When the domestic asset pricing is too high e to poor investment channels, the valuation of overseas equity or fixed income assets is very advantageous. For investment banks, the development of QDII business will broaden new business channels, and through overseas investment, it can also offset the pressure of excess liquidity caused by foreign investment, Such operations should also be encouraged by financial authorities. In addition, the cost advantage of equity financing will also be reflected when the domestic interest rate increases to deal with the excess liquidity
in addition to benefiting from excess liquidity in the M & a market, investment banking will also benefit from transactions in the secondary market. Because with the appreciation of RMB and the increase of interest rate, the investment cost of real economy is bound to increase, while the yield tends to decline. A large number of funds will flow into the capital market, which will also bring active transactions to the capital market and promote the introction of innovative varieties in the secondary market. As a matter of fact, since the beginning of this year, the business volume of securities companies has increased dramatically, and the capital has obviously flowed from instry and even from real estate, futures and other fields to the stock market
it can be predicted that China's excess liquidity will continue, and it is difficult to predict whether the outcome will be happy or sad. Looking back to the mid-1990s, people regarded the savings of bank residents with only 2 trillion yuan as a "tiger in the cage". They were worried that once it gushed out, it would lead to hyperinflation. However, in the end, hyperinflation did not happen, but deflation appeared instead. Time has changed. Now we are looking forward to 15 trillion yuan of savings for consumption. It can be seen that once everyone is worried, tragedy will not happen. But anyway, for investment banking, the good days should be just beginning
don't tell the interviewer that there is too much money, it's too vulgar! Because of the great potential, so there is a future, because there is a future, so there will be earning!
four new opportunities for the development of investment banking business
it is generally believed that the development opportunities of investment banking business come from excess liquidity, which leads to the rise of asset prices, the rise of bulk raw material prices, the expected interest rate increase in the future and the continuous appreciation of RMB
first of all, the rise of asset prices, especially those with good liquidity, such as real estate and stock equity, makes social capital flow to these assets, which makes these assets proce a premium. For enterprises, direct financing has been able to rece the cost of financing. If they can get premium income by issuing shares, they will definitely be willing to take equity financing instead of bank loans. Recently, the Shanghai Port Authority has obtained the overall listing qualification through Shanghai container terminal, and the issuance of shares of Bank of China and Daqin Railway show that the enterprises are taking advantage of the favorable opportunity of the capital market to accelerate the pace of listing. As far as the financial regulatory authorities are concerned, the increase of the proportion of direct financing can not only rece the bank risk, but also rece the pressure of excess liquidity brought by the increase of bank deposits, which is naturally what they are willing to see. And the investment banking department can obtain considerable underwriting fee income through this business, so as to strengthen its strength
in addition, the rising cost of upstream raw materials will also force enterprises to integrate resources through mergers and acquisitions to achieve the purpose of recing costs. For example, through vertical merger and integration of instrial chain to rece costs; Through horizontal merger and acquisition to rece competitors in order to improve the bargaining power of procts. These M & A activities are also inseparable from the participation of investment banks, which also brings opportunities for the development of investment banking business
moreover, RMB appreciation is concive to recing the cost of overseas investment. When the domestic asset pricing is too high e to poor investment channels, the valuation of overseas equity or fixed income assets is very advantageous. For investment banks, the development of QDII business will broaden new business channels, and through overseas investment, it can also offset the pressure of excess liquidity caused by foreign investment, Such operations should also be encouraged by financial authorities. In addition, the cost advantage of equity financing will also be reflected when the domestic interest rate increases to deal with the excess liquidity
in addition to benefiting from excess liquidity in the M & a market, investment banking will also benefit from transactions in the secondary market. Because with the appreciation of RMB and the increase of interest rate, the investment cost of real economy is bound to increase, while the yield tends to decline. A large number of funds will flow into the capital market, which will also bring active transactions to the capital market and promote the introction of innovative varieties in the secondary market. As a matter of fact, since the beginning of this year, the business volume of securities companies has increased dramatically, and the capital has obviously flowed from instry and even from real estate, futures and other fields to the stock market
it can be predicted that China's excess liquidity will continue, and it is difficult to predict whether the outcome will be happy or sad. Looking back to the mid-1990s, people regarded the savings of bank residents with only 2 trillion yuan as a "tiger in the cage". They were worried that once it gushed out, it would lead to hyperinflation. However, in the end, hyperinflation did not happen, but deflation appeared instead. Time has changed. Now we are looking forward to 15 trillion yuan of savings for consumption. It can be seen that once everyone is worried, tragedy will not happen. But anyway, for investment banking, the good days should be just beginning
don't tell the interviewer that there is too much money, it's too vulgar! Because of the great potential, so there is a future, because there is a future, so there will be earning!
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