Chapter 60: Research Reports Earning Over Ten Thousand a Day
"Thanks a lot for your help today, Xiaolong. Care to grab a bite together?"
"I'll skip the meal; I have a couple of clients coming over later. Let's not stand on ceremony with each other, we're practically family."
"Then I'll treat you another time."
"I'll definitely be there."
After a brief exchange of polite pleasantries between Tao Yu'ang and Zhang Xiaolong, the latter took Zhang Yang away from Hongyue Investment and found a mid-range restaurant for lunch.
Since his future career was at stake, Tao Yu'ang took the opportunity during lunch to remind him, "Don't go overboard with leverage; it's very easy to lose your shirt."
"I'll operate cautiously."
Zhang Yang nodded in response.
Once they had finished their meal, the two drove straight back to Shanghai University of Finance and Economics.
...
After a drive of nearly two and a half hours, as they neared the campus, Zhang Yang glanced sideways and said, "Senior Brother Tao, please pull over at the Construction Bank ahead. I need to pop inside to take care of some business."
"No problem." Tao Yu'ang was very familiar with Wudong Road and knew there was a bank just ahead.
Shortly after.
The BMW M3 came to a halt right in front of the Wudong Road branch of the China Construction Bank.
"I won't go in with you; there are still things to take care of back at the company," Tao Yu'ang said as he watched Zhang Yang unbuckle his seatbelt.
Zhang Yang said, "Alright, sorry to trouble you today."
"Just minor stuff."
Tao Yu'ang dismissed it offhandedly.
Right now, he didn't expect much; his only wish was that Zhang Yang wouldn't go all-in on leverage. If something actually went wrong, he wouldn't even know who to turn to for research reports in the short term.
Through this margin financing episode, Tao Yu'ang also realized he couldn't rely solely on Zhang Yang; he had to build his own market research team immediately.
"I won't take up any more of your time, Senior Brother Tao. Goodbye."
"Goodbye."
"Bang—"
Zhang Yang closed the car door.
The engine of the BMW M3 roared to life, speeding away like a silver flash.
Watching him leave, Zhang Yang pushed open the bank doors, pulled his ID card to get a queue ticket, and then waited in the lobby.
While waiting for his number to be called, he took out his Nokia phone, switched the profile from silent back to ringing, and checked his incoming transfer text messages.
[Respected customer, your Construction Bank account ending in 2389 received a transfer of 90 CNY (in words: Ninety CNY only) on April 23, 2009, at 09:32. Available balance: 40,114 CNY. Remarks: QQ number 109...859.]
[Respected customer, your Construction Bank account ending in 2389 received a transfer of 90 CNY (in words: Ninety CNY only) on April 23, 2009, at 09:40. Available balance: 40,204 CNY. Remarks: QQ number 122...877.]
...
[Respected customer, your Construction Bank account ending in 2389 received a transfer of 90 CNY (in words: Ninety CNY only) on April 23, 2009, at 09:44. Available balance: 40,294 CNY. Remarks: QQ number 158...999.]
As far as the eye could see, it was a sea of text messages confirming monthly subscriptions for market research reports.
Ever since he started driving from Hangzhou, Zhang Yang's phone had been vibrating incessantly, so he had simply switched it to silent to avoid any disruption to his important business.
Now that the matter of leveraged financing was settled and it was past three in the afternoon, taking advantage of his free time, he planned to adjust the notification threshold for bank deposit alerts to stop the endless stream of texts, and coincidentally pay He Jing her labor fee.
According to Zhang Yang's rough estimate, at least 130 people had paid him 90 CNY today, which came out to 11,700 CNY. This portion constituted risk-free income, serving as a financial cushion.
What was the use of a financial cushion?
To put it bluntly, after getting liquidated, it could help you make a comeback!
Retail investors without a stable source of income were easily driven to jump off rooftops because they possessed zero risk-tolerance capacity.
"Ding-dong!"
"Number 0104, please proceed to Window 2 for service."
Hearing the automated broadcast, Zhang Yang put away his phone and walked briskly towards Window 2.
Seeing someone sit down, the female bank teller glanced at Zhang Yang and asked, "Hello, sir, how may I help you today?"
"I'd like to adjust the notification threshold for incoming transfer text messages. Change it so it only alerts me for 500 CNY and above," Zhang Yang said concisely, handing over his bank card and ID card.
"Please wait a moment."
After a flurry of keystrokes, the female teller looked up at Zhang Yang again and said, "Please enter your bank card transaction PIN on the terminal next to you."
"Alright." Zhang Yang followed her instructions and entered the PIN.
Shortly after.
The female teller completed the modification.
"Done. I've adjusted the text alert threshold for you. Are there any other transactions you'd like to process?"
"Help me make a transfer as well."
"Is it an interbank transfer?"
"Agricultural Bank of China."
"For interbank transfers, we charge a service fee of 0.5% of the total transfer amount, capped at 50 CNY. You can fill out this..."
"Never mind, I'll just withdraw cash instead."
Zhang Yang interrupted her.
He had forgotten that in 2009, banks had not yet reformed their transfer systems. At that time, whether transferring to a different region or a different bank, hefty service fees were required.
It wasn't until the rise of third-party payment platforms like Alipay and Tenpay that the Big Five state-owned banks (ICBC, ABC, BOC, CCB, and BC) announced on February 25, 2016, that they would waive service fees for both interbank and out-of-town transfers, as well as waive fees for online banking transfers and remittances of domestic currency under 5,000 CNY for customers.
Only those who had lived through it knew how expensive bank transfer fees were before the reform!
A transfer of 20,000 CNY would incur a 50 CNY service fee. It wasn't that Zhang Yang couldn't afford it, but he felt it was completely unnecessary—50 CNY in 2009 was enough to cover his breakfasts for more than ten days.
"Here is twenty thousand. Please count it carefully; once you leave the counter, we will not accept any responsibility." The female teller handed the bundle of cash through the lower window to Zhang Yang.
Zhang Yang counted it once. After confirming the amount was correct, he added, "Get me a black plastic bag and two sheets of scrap newspaper."
"..."
The female teller fell silent for a moment, but complied anyway.
Putting aside how accustomed he seemed, she was actually quite terrified of twenty-something young men because the things they knew were all over the map.
If he decided to make a complaint phone call, her 200 CNY performance bonus would vanish, and the female teller didn't dare take that gamble.
Armed with the newspaper and the plastic bag, Zhang Yang wrapped up the twenty thousand yuan and tucked his ID and bank card into his pocket.
Just as he was about to leave, a thought occurred to him, and he asked, "By the way, do you know of any custom-made men's suit shops nearby?"
"Uh..."
The female teller thought for a moment, shook her head, and said, "No idea."
"Thanks, sorry to bother you."
Zhang Yang didn't press further.
Since he had never indulged in domestic luxury consumption in his past life, he had no idea where Shanghai's high-end bespoke tailoring shops were located.
Perhaps many people didn't understand why other people's suits always had such a sharp silhouette and flattered their figures so well, while the ones they wore themselves made them look either like insurance salesmen or real estate agents.
This was because what others wore were custom-made garments, while ordinary people wore mass-produced standard sizes.
High-end bespoke suits were tailored based on an individual's shoulder width, body proportions, and various other precise measurements.
For example, if someone had uneven shoulders, a high-end custom suit would add padding to the lower shoulder side to visually achieve a balanced look.
This was somewhat similar to hairstyles. People always said that a buzz cut was the true test of a handsome man, but not every guy could pull off a buzz cut. On the other hand, when someone like Chow Yun-fat combed his hair back and slicked it with pomade, he instantly transformed into the pinnacle of Asian beauty; yet if you shaved his head into a buzz cut, he would only look average.
Asking the female teller was just a whim, figuring that someone interacting with so many people might know where the best high-end tailoring shops were. But he wasn't in a rush to get a suit made anyway, so he took the cash and headed back to the Shanghai University of Finance and Economics.
...
Arriving at the female students' dormitory building for the finance department, Zhang Yang called He Jing.
Shortly after.
The call was connected.
"Hello, Zhang Yang, what is it?"
"Are you in the dorm?"
"Yeah, organizing some market data."
"I'm downstairs at your dorm building. Put aside whatever you're working on for a moment and come down to pick up some money."
"Pick up money?"
"Your labor fee for putting together the research reports."
After Zhang Yang explained the situation, He Jing quickly came down to the first floor of the dormitory.
Zhang Yang didn't drag things out. He handed her the black plastic bag filled with cash and said, "Twenty thousand yuan. Get the remaining two research reports to me as soon as possible."
"Oh, oh."
He Jing nodded blankly.
At that moment, she was somewhat stunned, because twenty thousand yuan was an absolute fortune to a student. She had assumed Zhang Yang was just blowing hot air and would at most give her ten or eight thousand yuan for her trouble once everything was done.
She never expected her boss to be so extravagant and straightforward!
"If the amount is wrong, look me up anytime. I'm heading back." Zhang Yang turned and left.
If you want the horse to run, you have to feed it grass. Now that the VIP market research group was on the right track, he needed He Jing to consistently produce timely reports.
"Wait."
He Jing suddenly called out, stopping Zhang Yang, and asked a question that had been tormenting her for a long time: "A government agency or Huaxin Securities—Zhang Yang, tell me, how should I actually choose?"
Zhang Yang stopped in his tracks, turned around, and replied, "You've had the answer in your heart all along. Right now, you're just trying to use me to validate your own choice. There's no need for that; just follow your inner convictions."
With those words spoken.
He turned and walked away.
Watching Zhang Yang's retreating figure, He Jing felt as if she had received a sudden flash of enlightenment, achieving total clarity.
When a second option presents itself and you still remain indecisive, it means that the second option holds limited attraction for you; because for a choice that your mind and heart truly endorse, you would go all-in without a moment's hesitation.