【讀者回應💰】Sorry，Private Bank是不會重倉恆大的 (Patreon)

Dear 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。