The day after Bloomberg's special program was broadcast, almost all Financial Media in China followed up.
It's not a reprint, it's a reprint.
The consensus among the editorial offices was surprisingly consistent:
Although the Bloomberg program was in-depth enough, it looked at Zhao Chen from the perspective of Wall Street--
An upstart capital straddling the two major markets of China and the United States, and a young fund manager who escaped unscathed from the hunt of Short Sellers.
Domestic media want different angles. The questions they want to answer are:
How did this 23-year-old young man go from Shan City to New York?
"Finance" magazine was the first to come up with a complete and in-depth report.
The title of the cover story directly quoted the comment of the veteran fund manager in the Bloomberg topic, but added two words--
"Three Years from Shan City to Wall Street: Zhao Chen".
This report employed three senior reporters,
The three timelines from Henglong's seizure of power, Bitcoin's position building, and US Stocks Bulls and Bears's duel are intertwined and sorted out.
Finally, a complete path map of Zhao Chen from the end of 2016 to mid-2019 was pieced together.
The last paragraph of the report concluded:
"Zhao Chen's investment territory spans the three major markets of A-share, Hong Kong Stocks and US Stocks.
Covering the five golden tracks of New Energy cars, artificial intelligence, Energy Storage Materials, Consumer Healthcare and Baijiu.
The total management scale of Henglong Capital and Era Vanguard has exceeded 30 billion US Dollar.
But what attracts more attention to the market is every major decision this person has made in the past three years.
Almost all of them happened at the time when the market was most panicked or Euphoria.
And when he stepped on it, most people were running in the opposite direction."
At the same time, the new financial media "Wall Street News" launched a timeline review at a faster speed,
The entire path of Zhao Chen seizing power from Henglong, Short Selling Henglong Holdings, bargain hunting Bitcoin, investing in Tesla and Nvidia was made into a long chart.
It was wildly forwarded on WeChat Moments and Weibo, and the number of reads exceeded 100,000 in less than two hours.
The long picture has an open question marked at the end:
"Where else can Zhao Chen's asset territory be expanded?"
Some people in the comment area speculated that he would continue on the Add Position AI track,
Some people think he will push Green Energy Technology to STAR Market, and others half-jokingly said -
"His next step should be to buy the entire NASDAQ."
Several senior domestic fund partners also forwarded relevant reports on their social media and added personal comments.
One of the veteran investors who has been in the asset management industry for more than 20 years and is known for his precise and extremely picky stock picking vision wrote on Weibo:
"The Zhao Chen incident has been highly discussed in my circle these days.
But I don't want to comment on those beautiful transactions of Era Vanguard in the past - those are phenomena, not logic.
What is worth pondering is the industrial structure he laid out.
From New Energy car to AI Computing Power, from Energy Storage Materials to Consumer Healthcare, these five tracks have nothing to do with each other individually.
But combined together, you will find that he is actually only doing one thing:
Bet on the long-term collaboration between China and the world in the new technology cycle.
This kind of awareness of top-level allocation across markets and asset classes is extremely rare among the younger generation of investors."
He paused for a moment and added a more straightforward short comment on the forward button--
"Every bit of trust Era Vanguard and Henglong Capital gave him did not come from media releases.
It grows out of those trading disciplines and compliance documents that have been proven repeatedly."
At the same time, an English post from Hong Kong, a certain Hedge Fund founder, was frequently translated, quoted and sent back to China.
The original post was posted on an overseas investment forum. The tone was sharper and the stance was more subtle than that of domestic counterparts--
Because the author himself held a small amount of Tesla Short Position last year, although the loss was not large,
But after witnessing the operation of Zhao Chen in May's Fight to the Death,
He chose to close all his positions at the end of the first quarter and left this sentence on the social platform that has been screened countless times:
"In May, I made a private bet with several friends on whether Era Vanguard could survive the round of replenishment.
I lost. What I lost was not the money, but my lack of judgment on the preparedness of a young opponent.
He can file every statement of Bitcoin in advance,
The deduction of Liquidation Threshold can be accurate to cents in advance.
You can activate both Henglong and Hong Kong's capital channels at the same time when you are most short of ammunition--
This kind of composite front mobilization ability cannot be learned by looking through Bloomberg in the office."
When he wrote this, he added in the restrained tone of a courtroom examination:
"If you still want Short Selling him in the future,
I suggest you first read every attachment in EDGAR System that he has personally signed.
That's closer to his playbook than any Short Selling report."
In these intensive industry discussions,
The founder of a domestic quantitative private equity company focusing on Algorithmic Trading and programmatic strategies also rarely sent a long article,
Let's look at Zhao Chen's operating style from another angle.
He wrote, "The circle has been reviewing Era Vanguard's position opening timeline on Nvidia and Tesla.
Most people focus on the price, but what interests me more is his trading structure in the bottom range.
He seems to have a layered execution ability that those of us who work on Algorithmic Trading are particularly familiar with:
When the market was still panicking, he was already using multi-channel small orders to continue to accumulate funds.
It can complete large-scale position building in an orderly manner without being noticed by the market.
This kind of regularity that can almost be reproduced with Model is not a talent.
It is more like the traces of thinking left by a person who has repeatedly deduced various risk parameters in countless sleepless nights.
He probably doesn't trust intuition at all - he trusts every possibility calculated in advance."
Zhao Chen read through these reports and comments one by one in Suite.
The response from the domestic Financial Media and investment circles made him feel the need to take it seriously than when he counterattacked Short Sellers and won a big victory--
Wall Street's approval or doubt can be responded to with positions and profits.
In China, this kind of scrutiny from peers to seniors to potential partners,
Behind every look is someone he may need to cooperate with, compete with, or overcome difficulties with in the future.
He put his mobile phone on the coffee table and said something to Chen Xi who was sorting out the domestic Public Sentiment Briefing:
"The valuable part of these comments is not to praise us, but to point out where we may have been underestimated or misjudged.
Archive all these articles and use them when reviewing internal strategies later."
Chen Xi classified the link and saved it, and typed today's date in the folder name—September 6, 2019.
A few days later, Zhao Chen attended a small-scale roundtable discussion at a domestic industry forum.
During the intermission tea break, a middle-aged man he didn't know walked up to him with coffee.
He introduced himself as a strategic consultant to a large domestic manufacturing group.
The other party showed no politeness and went straight to the core with his first sentence:
"Zhao Zong, I have seen your Era Vanguard's latest update Schedule 13D Amendment Filing,
The wording about long-term lock-up impressed me deeply.
But I want to ask you face to face today - when you said you would not interfere in operations or seek Control, is it true, or is it a more advanced form of control?"
Zhao Chen put the Pu'er in his hand on the high round table next to him. He did not rush to answer. He paused for a second before saying:
"The essence of lock-up is to allow the management of the invested company not to worry about me suddenly selling off on a certain day.
This is not control, it is freedom from being controlled - their freedom, and my freedom."
The other party was silent for a while, nodded slowly, drank the cup of black coffee in his hand, and didn't ask any more questions.