Vol 35 - For Good Times, And Bad Times
- Ann Yu
- Sep 28
- 4 min read
September 28, 2025
The stormy week has finally passed, and we hope all our readers are safe and well 🌧️☀️.
But the financial markets are still riding the waves, so we encourage everyone to stay cautious with their investment portfolios 📉📈.
This week, we heard your feedback loud and clear - our social media posts can’t be in Chinese only! To be truly international, we’ll continue posting in Chinese on Facebook, but all our Instagram content will now be in English.
Hopefully, this helps us reach readers from all around the world (if any🤣)!
Contents of This Week's Newsletter
Topics from Jadewell's Social Media
🍬 The Sweet Spot on the U.S. Yield Curve
After last week’s post about TSMC buying U.S. corporate bonds, I got several questions:
👉 Why is TSMC only buying bonds maturing within 5 years?
👉 If I want to buy bonds myself, which tenor should I choose?
While the answer varies for different people, one thing’s clear: many bond funds are clustering around the 5-year mark - widely seen as the “sweet spot” on the yield curve. Why is that? 👉 Facebook (Chinese) / Instagram (English)
⚡One Year Since the 924 Shockwave
Remember last year’s 924?
Confidence in China and HK stocks was rock bottom - then boom! PBOC, CSRC, and others unleashed a wave of stimulus to lift A-shares.
📈 One year on, markets have surged. But beneath the surface… what major shifts have reshaped A-share market cap? 👉 Facebook (Chinese) / Instagram (English)
🚀 HSBC's Quantum Moment!
Remember a few months ago when even Jensen Huang from NVIDIA said quantum computing was still a far-off technology? (Though he later changed his tune.)
Well, guess who was the first to actually apply quantum computing in real-world finance?HSBC! 😮
What exactly did HSBC do to take the lead? And how are the unique features of quantum computing being used in financial market trading? 👉 Facebook (Chinese) / Instagram (English)
HKUST x CFA Society Hong Kong - My Family Office Presentation Experience
🎤 This Week’s Recap｜Family Office Panel Highlights
We had the honor of speaking at the Family Office seminar co-hosted by HKUST and the Hong Kong CFA Society 🙌.
As one of the roundtable speakers, we shared our journey - from leaving private banking to building a multi-family office from scratch 🏛️.
👩🎓👨🎓 Fun fact: nearly half the audience were HKUST students!
After the talk, many came up to ask:
“How can I get into this secretively private industry?”
🔍 Is the Family Office World Really That Secretively Private?
Honestly… yes. Due to its boutique nature, hiring rarely goes public - it’s mostly whispered referrals within trusted circles 🤫.
Even though “family office” is a buzzword in the news, for most people (especially students), it’s still a foggy concept 🌫️.
We hope to keep sharing our startup journey online, so more curious minds can get a clearer view 💡.
🍸 Off the Record｜What Do Family Office Pros "Fear" The Most?
At a private gathering this week, a few family office veterans shared their biggest fear: When the boss says, “I’m going to a cocktail party!” 😱
Why? Because every time they come back, they bring a stack of “ideas” from their “friends” …And say to his/her family office staffs, “This sounds promising - can you look into it?” 🧠💼
The "look into" isn’t the hard part.
The real challenge? If the idea’s terrible, how do you say so without bruising the friend’s ego? 🤐
🤔 So Who’s Trickier - Boss’s Friends or Private Bankers?
I had to ask:
“Which is harder to deal with - boss’s ‘friends’ or pushy private bankers?”
One senior replied instantly:
“Definitely the ‘friends’! If a banker pitches nonsense, I shut it down. No mercy.”
Another sighed:
“You guys are lucky. My boss’s ‘friends’ are the bankers. I’m stuck in the middle 😩.”
💬 Final Thought｜EQ > IQ
In this line of work, emotional intelligence often matters more than raw intellect.
Just like any service industry - reading the room, knowing when to speak, and how to say it - is everything 🎯.
Key Events to Watch in the Week Ahead
China/HK - Eco Data | Sep 30 (Tue) - Manufacturing PMI |
US - Eco Data | Oct 3 (Fri) - Nonfarm Payroll, Unemployment Rate |
Others | Sep 30 (Tue) - Reserve Bank of Australia Rates Decision |
About Jadewell Family Office
Jadewell is committed to offering proactive, customized services akin to a “single-family office,” yet within the ease of a “multi-family office” environment.
Ann Yu
Co-Founder and CEO
Jadewell Family Office
FOR INSTITUTIONAL & PROFESSIONAL CLIENTS ONLY – NOT INTENDED FOR RETAIL CUSTOMER USETHESE ARE NOT STOCK OR PRODUCT RECOMMENDATIONS
This document is intended for informational purposes only. It should not be considered as advice or a recommendation for any specific investment product, strategy, plan feature, or any other purpose in any jurisdiction. It is educational and does not represent a commitment from Jadewell Family Office to participate in any mentioned transactions. Any examples used are generic, hypothetical, and for illustration purposes only.
This material is insufficient to support an investment decision and should not be relied upon to evaluate the merits of investing in securities or products. Users should independently assess the legal, regulatory, tax, credit, and accounting implications, and work with their own financial professional to determine if any mentioned investment is appropriate for their personal goals. Investors should ensure they have all relevant information before making any decisions.
Any forecasts, figures, opinions, or investment techniques and strategies provided are for informational purposes only. They are based on certain assumptions and current market conditions and are subject to change without prior notice.
All information presented herein is considered to be accurate at the time of production, but no warranty of accuracy is given and no liability in respect of any error or omission is accepted.
It should be noted that investment involves risks, the value of investments and the income from them may fluctuate in accordance with market conditions and taxation agreements and investors may not get back the full amount invested. Both past performance and yields are not reliable indicators of current and future results.