저자: KenGriffin · 외국인
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결론: 켄 그리핀은 중국 시장 확대(시타델 증권의 유동성 공급·자본 조달 역할)에 의욕적이나, 영상 전반은 투자 예측이 아닌 경제·금융 개방 논평이며 대상 자산에 대한 가격 방향 예측은 없음. [미국 경제] 미국 경제는 팬데믹 이전보다 커졌으나 노동시장은 약 500만 명 감소, 구인 1000만 건 수준. 공급망 병목과 노동력 감소가 인플레이션 압력으로 작용하며, 연준이 2022년 긴축으로 대응할 수 있다고 우려. [중국 경제] 중국은 팬데믹 대응을 잘해왔고 내수 중심 성장 정책이 충격을 완화할 수 있으나, 글로벌 둔화 시 파급이 있다고 봄. 천연가스·석탄·원유 등 원자재 부족은 중국에도 부담. [미중 금융 연계] 금융 연결 강화는 양국 성장에 중요. 중국의 JP모건·씨티·블랙록 등 라이선스 허용은 금융시장 개방 신호로 평가. 미국은 중국 직접투자의 최대 원천, 중국은 미국 국채 주요 보유국. [중국 금융 개방] MSCI 편입과 스톡커넥트를 긍정 평가. 시타델은 1990년 아시아 진출 후 홍콩·중국 본토에 관여해 왔음. [운용 성과·전략] 2020년 플래그십 펀드 수익률 24.4%, 2021년도 양호. 성과 비결은 인재 중심 문화와 팀 협업. 중국 내 헤지펀드는 전자상거래·핀테크 기업 투자, 시타델 증권은 중국 시장 유동성 공급 확대 희망. [장기 견해] 중국 시장에 약 30년간 참여해 온 장기 투자자 입장. 중국 정부의 내수 강화 정책을 긍정 평가, 알리페이·위챗페이와 디지털 위안화 추진을 높이 평가. [개인사] 하버드 재학 중 전환사채 차익거래와 옵션 거래 시작, 기숙사 옥상 위성안테나로 주식 시세 수신. IBM PC 고향인 보카러턴에서 자라며 수학과 소프트웨어의 결합이 자본시장을 바꿀 것이라 확신. [리스크·조건] 글로벌 성장 둔화, 연준 긴축, 공급망 병목이 주요 리스크로 언급. 개별 종목·지수에 대한 가격 목표나 방향 언급은 없음. [출연자 전망] 그리핀은 미국 인플레이션과 연준 긴축 가능성을 우려했고, 중국에 대해서는 장기적으로 낙관적이고 금융 개방을 환영하는 입장.
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what is going on ape nation so i ran across a very interesting video today a video which of course would be about ken griffin because we love to talk about ken griffin on this channel as a matter of fact it's actually an interview and we're gonna play this interview on the channel today but uh before we do please go ahead and smash that thumbs up button and go ahead and subscribe if you're new here because i drop content just like this every single day anyhow without any further ado let me uh quickly tell you what in the hell is going on here so apparently after stealing from millions of americans in the united states and of course lying to millions of americans every single freaking day ken griffin decided that he's now going to try to expand his reach uh in china and his exact words were and let me just read them off to you because unfortunately i don't have him memorized but hey in my defense neither does kenny because he was reading a teleprompter throughout his entire interview so ken says that he would like citadel securities to be more engaged in china over the years to come as a thoughtful partner both in providing liquidity in the chinese market and in working with chinese corporates in accessing capital from around the world now we all know what that means and we all know what he's trying to do in china just by listening to those words so i'm gonna let you listen to it for yourself i'm gonna let you watch well pretty much the entire interview i did edit some dead spaces but uh i left some of them in there just to make it super obvious as to just exactly how much of this interview is being read from a teleprompter and i wanted you guys to see how he's kind of screwing up the interview even reading but yeah we're going to go ahead and run the clip hello everyone welcome to the day one planner in session at taishin summit 2021 unleashing the managing editor of taishi global and sitting with me at the virtual fire site is mr khan griffin one of the most recognized names in the wall street he is the founder and ceo of citadel one of the leading hedge funds with 38 billion dollar assets under management by august this year and he funded the company right after graduating from harvard all the way back in 1990 he's also founder of citadel securities one of the world's largest market makers which was set up in 2002 so very glad to have you here with us ken it is such an honor to be here today i wish i could join you in person next year so ken let's start from the u.s economy what is your outlook for the u.s economy especially how much do you worry about inflation in the us so first the good news the u.s economy today is larger than it was before the pandemic it's been a remarkable remarkable story of a recovery from a very dark moment now the challenge is that our labor market has shrunk significantly since the pandemic began today there's about five million fewer americans working in the workforce than the world pre-pandemic and there are 10 million jobs open this has caused incredible challenges in our supply chain in fact chinese corporates are quite aware of the challenges that we have in our ports in moving goods from ships to trucks to the end consumer the combination of supply chain bottlenecks and a reduced workforce has incredibly incredibly put pressure on inflation here in the united states and we're concerned that the fed is going to have to start to hit the brakes with tighter monetary policy to control inflation in 2022 if we do not see more people return back to work here in america um how about china city chicago what is your outlook for the chinese economy and especially the country's financial markets what is remarkable is how well china has navigated the pandemic the policy response to this dreadful disease has been incredible and the protection of human life has been remarkable now clearly china and the united states are very tightly integrated by virtue of trade and of course any steps that take place in the united states to slow inflationary pressures will put pressure on global growth hurting the economies of both countries china also struggles with many of the same challenges that the west struggles with for example scarcity of commodities such as natural gas coal or oil that are putting pressure on all of our industries the good news is china's strong focus on its domestic economy strong policies oriented towards growth should help to protect the chinese economy from much of the current pressure but of course if we see a slowdown globally we're going to see a ripple effect take place in china you just mentioned the u.s china are entirely integrated by global trade and a lot of worries on decoupling between u.s and china from trade to investment what steps can us and china take to strengthen the financial ties so obviously stronger financial ties will bring our two countries closer together and that is so important for the world's growth story and innovation globally i'm i'm pleased to see the return of our two countries to the negotiating table to pursue a more constructive tone on trade in financial services the government of china has been very focused on improving and strengthening the ties between our two countries they have placed an importance on thoughtful growth and thoughtful integration in their policy decisions we've seen new licenses granted to the jp morgans and citigroups and black rocks of the world that signify china's commitment to opening its financial markets to u.s participation and this is against a very important backdrop the united states is the most important source of foreign direct investment in china china is one of the largest owners of u.s sovereign debt our countries have a long-standing financially integrated economy but the steps by the government of china to further that integration are important to the joint growth of our two countries just like you said that despite the jew political tensions and the financial sector opening up has always been front and center at the chinese regulator's agenda um you've been a player in china's financial markets for quite a few years how would you evaluate the development of china's financial opening in recent years it has been remarkable to see china's embracing of foreign investment within its domestic economy you know for example the inclusion of china in the msci index was an incredible event for china with respect to attracting capital flows from around the world and i give great credit to the chinese regulators for putting forth a set of policies that made that event take place stock connect has been an incredibly important channel for foreign investors to invest in chinese companies so we are seeing in china a very thoughtful focus on how to broaden the ability for foreign investors to participate in the great chinese companies that are driving so much of not only growth in china but also growth around the world so citadel has entered china in 2010 when it's both poor and bear markets a big crash and the falling wrong so regulation changes this and that in your view what roles can following firms play in helping china develop a more mature capital market especially with greater long-term investment so i think it's important to recognize that citadel has been active in asia since 1990 the year of the founding of the business and in fact we were an important investor in hong kong throughout the 1990s where we saw a tremendous opportunity created by the hong kong entrepreneurs we've been involved in mainland china from the early days of citadel securities and we've seen a continued focus by the chinese policy makers on creating one of the world's most transparent and fair markets in which to participate china has for example been at the forefront of embracing markets that have openness and transparency through electronic trading that helps to give people around the world confidence in the equity and fairness of dealing in china now that we see american firms working with chinese firms on a number of different fronts for example raising capital we're seeing the sharing of best practices between our two countries in the allocation of capital and how to think about risk management and how to think about the development of new markets for example a high-yield financing market that will broaden the tools available to chinese corporates to accelerate growth and at the same time creating more opportunities for chinese savers to deploy their savings in thoughtful ways uh 2020 marks another year a very good performance for serato your flagship fund was 24.4 readers um what are those successful experiences that can be learned by your chinese peers so if i if i look at our success in 2020 and this year's as thus far fortunately been equally successful it all comes down to our focus on talent we are incredibly proud of the people that work here at citadel and we're incredibly proud of how our team collaborates and works together to solve problems and to identify opportunities where we can deploy capital thoughtfully on behalf of the pension plans and sovereign wealth funds and endowments and foundations that entrust us with their capital one of the important advantages that we've had over the course of much of the pandemic is that our team has been together in our offices around the world collaborating in a way that's that's very hard to find in the western society today but we find that the tight working of our team together is important to developing and mentoring our junior members of our team to helping them to understand the insights and observations that our more experienced team members have in making investment decisions what instead of future strategy in china in that regard so we have a two-prong strategy in china for the hedge fund we are an active participant in the chinese markets looking for investment opportunities across the various incredibly well-run chinese companies what's remarkable is that china today is the source of so much innovation around the world particularly e-commerce and in fintech and we are very excited to see these opportunities to participate in these companies which have been led by incredibly incredibly thoughtful entrepreneurs with very hard working teams behind the ideas and concepts that are being brought to market at the same time citadel securities is hoping to expand its region to china we are the largest market maker in equities around the world and we would like to be more engaged in china over the years to come as a thoughtful partner both in providing liquidity within the chinese market and working with chinese corporates in accessing capital from around the world you in china for the short term or for the long term profit well having participated in china for almost 30 years of my life i would view ourselves as an incredibly long-term investor in china and it has been it has been unbelievable to witness the economic miracle that's taken place in your country and it's nothing less than a miracle from a regulatory perspective i believe that the government of china is very focused on strengthening the domestic economy and reducing the dependency that china has on the global economy as a source of growth i think that's a very wise decision to strengthen china from within as china heads towards being the largest economy in the world from a regulatory perspective the push in fintech has been a remarkable transformation of china's economy so for example payments at alipay or at wechat is the envy of the west it's incredible how efficient chinese consumers and merchants can deal with the acts of purchasing goods and services and i applaud china for its focus on a digital currency the central bank of china appears to be far ahead of most of its western peers in advancing towards a digital based world for currency um i know you have a fascinating personal story and i want to ask about that before we end up our conversation today your entrepreneurship was evident from the very young age around that in college you started trading convertible funds by put options and to facilitate uh your around-the-clock trading somehow you convinced harvard to allow you to install a satellite dish on the roof of your dormitory to receive stock votes how did all this happen what inspired you to start doing what you do today so i was very fortunate to have grown up in boca raton florida where ibm developed the ibm personal computer and had a perspective that the integration of mathematics and software engineering would reshape the world's capital markets that was the thesis of citadel and today of citadel securities was that the integration of talented professionals empowered with world-class predictive analytics and superior tools with which to identify opportunities would change how capital was invested and deployed and if i look for example citadel securities which is run by pong chao pong like myself is an entrepreneur he grew up in mainland china he attended peking university he did his phd here in the states of berkeley and joined us back in 2006.
as ceo of citadel securities pang chow has dramatically taken our business forward by embracing our focus on talent on a culture of strong risk-taking and risk management and on a platform that has developed some of the most advanced predictive analytics ever built in financial services that's an incredibly important platform that meets the needs of corporates pension plans of sovereign wealth funds and of retail investors around the world
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