【讀者回應💰】Sorry，Private Bank是不會重倉恆大的
Added 2021-10-03 05:01:03 +0000 UTCDear Dr Shen：
回應一篇讀者分享：So happens that I used to work with Morgan Stanley Private Bank as in house and one of my technical expertise and biggest clients these days are private banks. But to be fair we have a terminology - 四大毒品 - accumulator, decumulator, TARF, contingent convertibles。恆大股票並不入流。
JP Morgan Private Bank 最低入場門檻係USD$30 million，仲要沒人會理你。上年幫佢地掃走一D「低級客户」，去而家好popular 嘅multi-family office，即是you are not rich enough to set up a family office yet，so you share it with other rich people。
況且自從迷債後，HKMA、SFC 見到個bond 字，就sort 左，對 bonds (especially junk bonds) 管得好嚴。 The regulations apply to rich people too, even in Private ank。沒有Private bank 會俾你「重倉」恒大，因為concentration limits，仲有complaint risk。所以我先可以呃下飯食。
還有，Private Bank 從來没靚仔靚女bankers，只有富二代。Because only they have the relationships (or their parents have their relationships) to mega rich people. This is the sad truth.
四叔自己個family office，就喺IFC，年年D banker 送禮同讚美説話，堆到上山，四叔係房中房聽real time translation。除咗private banker，仲要多數係老外嘅product specialist ，佢俾margin call，一晚200 million 。反而佢側面嘅傍友，賭輸I kill you later 就唔找數。
呢個先係金權交易核心世界。
Comments
富2代好多都係得個位, 呃個名, 做野既都係背後班9-12 Private Bank 當然唔會重倉恆大, 係都係幫手渣注。 另外bonds. 發公開bonds都好少有人香港 ( 香港唔掂) 九成九係新交易發。 又其實我希望聽到大陸基金既某D故事聽唔到, 比較失望, Private bank 台面做既野啊水都識知啦, 反而佢地夾埋D 基金手下果下無被爆, 博士下次搵個真係搞金融既金融人爆下仲好啦
Good Year
2021-10-05 02:03:47 +0000 UTC富二代應該好多靚仔靚女喎，首先有錢可以娶靚老婆/嫁靚仔老公，先天條件至少有一半優質DNA下一代，再加後天用錢堆砌外觀.. 富二代靚仔靚女機率應該比一般市民大
Devilada
2021-10-04 11:07:55 +0000 UTC『没靚仔靚女bankers』← 除咗講專業嘢，夾雜一啲八卦雜誌嘅嘢，先至係夠地道香港討論區 😁
悉尼 袋鼠
2021-10-04 06:51:17 +0000 UTC同意 MS 唔會重倉恒大，專業既 banker 都唔會重倉單一投資。但係退休基金有好多恒大既債券，原因係退休基金只可以投資 AAA 級項目，恒大啲債券本來穩陣，但佢經歷幾次債務重組之後已經溝左好多爛數，其實係廿年前既美國房貸基金翻版。
Wilson Chu
2021-10-04 00:02:42 +0000 UTC睇睇下 The Economist 無啦啦變左睇 BuzzFeed…
Dennis Lee
2021-10-03 16:35:26 +0000 UTC我相信 Private Banker 唔會狂推 High Risk Return Products 因為保住 AUM 比 High Return 更重要。company as a whole 可能有不少 High Risk Producs 但每一個客戶的 Concentration 唔會好高。
Paul Wabash
2021-10-03 14:13:53 +0000 UTCIs it as though Daisy Wong is not a lawyer? :-)
George
2021-10-03 09:33:37 +0000 UTC@r0ArRRr To determine whether a person is a 1st, 2nd or even 3rd tier private banker, in essence it depends on how capable he/she is of constantly drawing new investable assets to his/her firm. Little does one doubt that “fuerdai” (scions of wealthy/nouveau riche families) have the overwhelming edge over other bankers. In addition, it’s not easy to get a private banking job for ordinary fresh graduates. Yet I would say it’s a bit unfair if this’s the only metric to evaluate a banker’s career. My cousins and my colleagues (though my job per se is quant trading) are private bankers at bulge bracket firms. Most are locals having no “special relationship” with wealth families but are all doing fairly good. Clients out of ultra-high net worth groups are now encouraged by large private banks to adopt their automated systems to place standard orders and their RMs not to reach out to their clients privately for the sake of banks’ own interests and internal regulatory issues. @Frances To certain extent I agree with your point. Even beyond the scope of private bankers, there’re “wealth brackets” within the circle of wealthy people. Super rich people, those in the 1st tier bracket typically having a net worth of US$10 billion or above, are served obsequiously by the 2nd tier wealth men of net worth between US$1-10 billion (only my ballpark range) who indeed are served in the same manner by the 3rd tier of net worth less than US$1 billion. This’s the ecosystem of wealth games as I know.
George
2021-10-03 09:30:29 +0000 UTCKOL寫野不嬲都係嘩眾取寵，如果唔係點做到個人設出黎搵食？入中環first lesson就係唔好信晒人地講既野。
Mikan
2021-10-03 09:23:49 +0000 UTC富二代冇靚仔靚女？ Good luck. How bad we will see. Post here is just a good piece to read. Real life is always different.
Dennis Ng
2021-10-03 09:10:29 +0000 UTCWhen I'm saying 24 7 serving, I'm not saying 24 7 order placing. And the next generation, they are private bankers' target, not private bankers. Maybe you mixed up with private bankers and ibankers? Anyways, i think no one will jump off from bridge just because of buying 恒大bonds. It's nothing like 2008 financial crisis.
Frances
2021-10-03 08:18:30 +0000 UTCPB bankers do not need to be on call around the clock.... They just bring you in and pass you to ICs. Prolly when they need some new AUM they will call you again. Best for people with relationship. For those without they are 3rd tier bankers
r0ArRRr
2021-10-03 06:04:03 +0000 UTCAs far as I know IFC 張智霖 is not PB RM...
r0ArRRr
2021-10-03 06:01:41 +0000 UTC你覺得有幾多富二代會做24小時on call 嘅private banker？唔係無,好少囉!唔好諗得private banker 好神, 佢哋係serve 有錢佬,唔係有錢佬! IFC 張智霖比較真實
Frances
2021-10-03 05:34:02 +0000 UTC「Private Bank 從來没靚仔靚女bankers？」咁係咪間接話IFC張智霖係一個虛構人物？定係佢一路都唔似撐警張？或冇揸重倉恒大之至係文章真正重中之重？😅
George
2021-10-03 05:09:43 +0000 UTC
