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Free Web Novel,Novel online - All in oicq.net -> Romance -> super energy power Text Chapter 640: I¡¯m afraid they¡¯ll run away
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- Qi Xiao did his best to include the new oil companies and financial institutions that have joined the market on the list. It is relatively simple to count financial companies, but it is more difficult to count oil companies that do not have seats. Although many companies are not included, this It is still a very long list, with dozens of well-known ones.
"Bear Stearns also joined?" Su Cheng had a strange expression.
Qi Xiao nodded solemnly and said: "Both funds under Bear Stearns have joined the market."
¡°Go long?¡±
"Yes, Bear Stearns issued a report at the same time, saying that the price of crude oil has reached the bottom, and then persuaded investors to enter the market." Qi Xiao's expression was serious. Bear Stearns is the fifth largest financial company on Wall Street and a Fortune 500 company. Its reports and funds are naturally heavyweights.
Su Cheng suppressed his laughter and continued to ask: "An Ran is back too? Going long again?"
Qi Xiao nodded heavily and said: "They lost at least tens of millions of dollars in the last round, maybe more than 100 million US dollars. They probably want to make up for it."
Enron was also a world-class company, well capitalized and confident.
Su Cheng moved his fingers from top to bottom and asked again: "And Lehman Brothers Holdings?"
Qi Xiao's face was already full of clouds at this time, and he said: "It's also long. They mainly sell financial products in this area to customers. The total amount is not too much, and the operations are relatively frequent. It is enough that London crude oil does not break through 16 US dollars at the opening. It¡¯s amazing.¡±
Hearing this, Su Cheng finally couldn't help laughing.
Qi Xiao looked at him with astonishment on his face, and really wanted to ask, "Why is my lord laughing?"
Su Cheng shook his head with a smile, he couldn't explain it. For many Chinese people in later generations, I am afraid that many more people know about Enron and Lehman Brothers than they do about Morgan Stanley. They are typical examples of failed companies. The former can be studied in accounting textbooks - if any Chinese accountant can learn one-fifth of Enron's accounting skills of false accounting, he will not have to worry about buying a house, a car and a wife in China. problem.
The newly joined Bear Stearns is not much better. Although it is a super financial company, in some years it was the largest securities company in the world, and has generated tens of billions of revenue, but in 2008 the financial situation During the crisis, it was finally sold to JPMorgan Chase for a total price of US$236 million.
In Su Cheng¡¯s eyes, these once-prominent companies are more like symbols of failed finance.
They magically come together and stand on one side, which is the main reason why Sioux City laughs.
However, Qi Xiao couldn't feel Su Cheng's laughter. He looked at Su Cheng with a sad face and thought: The chairman is going crazy with anger.
Su Cheng took the opportunity to have a good laugh and release the pressure of the past few days. Although the profit on paper has been about 5 billion US dollars, how to convert this money into cash will be the real test for them.
As a giant on the short side, Pan Asia Fund cannot relax now. Not only can it not withdraw even a penny, it also has to keep piling up heavy funds on the short side.
Su Cheng¡¯s own investment in the spread contract can be withdrawn at any time, but its profits have not yet been maximized, and Su Cheng wants to wait a little longer.
Therefore, the funds in Su Cheng¡¯s hands are actually decreasing.
The longer time goes by, the more it will be reduced, and the more risks will accumulate. Qi Xiao will naturally be more sensitive to this kind of risk. Seeing Su Cheng stop laughing, he whispered: "Dr. Su, the direction of the market is not special. Well, we also have to be careful about these companies. Although Bear Stearns and Lehman Brothers only participate in their funds and subsidiaries, they also have a lot of money to invest. Enron is making a comeback with even greater momentum, which may not be a good thing"
Qi Xiao¡¯s somewhat coquettish speech was very different from usual, and it was also a sign of great pressure.
If he had the decision-making power, he would definitely close his position now, even if he suffered some losses.
Su Cheng didn¡¯t have much knowledge or background in finance, but he had a firm will that he had cultivated over the years. He just said ¡°hmm¡± twice and settled. He is planning to build a century-old company, but he does not want to squander it with a century-old company. For this futures war, he has made so many preparations, probably more than other companies combined. With Su Cheng's character, he will persevere no matter how hard it is.
Qi Xiao had already known what Su Cheng was thinking, and this time he also gave a reminder, and then began to report on various transactions in the market.
The futures market is ever-changing, and Su Cheng doesn¡¯t have time to stay in the office to read the data, so Qi Xiao will report the compiled results to always let him understand the market trends.
Su Cheng listened and tapped his fingers on the table, thinking.
Because after one night, yesterday¡¯s bad news has almost been exhausted.As a result, the price of crude oil is gradually rising steadily. This is also the source of Qi Xiao's anxiety. While he was talking, he was also observing Su Cheng's expression.
Su Cheng¡¯s answer was unexpected and reasonable, and could be summed up in one word: ¡°Wait.¡±
While waiting, the price of crude oil rose step by step.
The traders of the Pan-Asia Fund looked at the upward curve and broke into cold sweats.
This is not a business where you spend some spare money to speculate in stocks and then make some spare money. In the futures market, there is no way to get stuck or unwind, either to make a profit or to cut off the flesh, or to make a huge profit or lose all your money Banks and other financial institutions provide The leverage of ten times and twenty times is the capital of ten times and twenty times the margin. The cost of using this money is not low.
Once the curve is adjusted upward, it will not be easy to wait for the curve to come down.
¡°Stock investors can cry out that I¡¯m trapped, and then wait for several years in anticipation of unwinding. Even if futures speculators can continue to hold the contract, the contract will always be delivered.
The August crude oil contract expires in August, and the September crude oil futures contract expires in September. You can choose to just close the position or deliver.
Rising oil prices have undoubtedly eaten into everyone¡¯s profits.
Starting from US$18.22 to US$15, Pan Asia Fund¡¯s profits have reached more than 20 billion US dollars, and Sioux City alone can get more than 5 billion US dollars in profits from it.
??And if the price of crude oil does not jump 10 cents, the total profit will plummet by hundreds of millions of dollars. Because the current Pan-Asia Fund is almost fully operating.
US$17.5 billion in capital, borrowing 15 times leverage, represents a total investment of US$260 billion. Although it is not as high as the bond market and foreign exchange market, nor can it be compared with the mature derivatives market, it is close to US$300 billion. , which is almost the same as the free funds of one of the top super consortiums like JPMorgan Chase.
By the time the electronic trading opened, the price of oil had risen to $15.68, and it seemed that it was planning to launch an attack on $16.
Su Cheng finally came to the big office and began to pay attention to the electronic disk.
Qi Xiao felt inexplicably relieved and thought: As long as Mr. Su takes it seriously, everything should be fine.
When he was working, he kept an eye on Su Cheng and was ready to provide consultation.
Apart from Qi Xiao, everyone else in the office is also paying attention to Su Cheng. This time Pan Asia Fund¡¯s futures operations did not follow common sense and were basically conducted within the framework set by Su City. Therefore, traders and staff, including Qi Xiao, were not so much confident as they were trusting Su City. .
He has already earned more than 20 billion US dollars in book income for Pan Asia Fund. With such a large amount of money, even if it is placed on Wall Street, it should be widely welcomed, not to mention that Sioux City is still the boss.
After a while, the price of crude oil in October jumped up two levels.
Su Cheng showed an expression of "That's it" and seemed very relaxed.
Qi Xiao, who should have been nervous, also felt at peace. As if affected by Su Cheng's relaxation, he calmly ordered: "Keep the original short-selling rhythm and tell the vulture not to be anxious."
Su Cheng listened and nodded slightly.
Qi Xiao suddenly became calm.
After two more rounds of jumping, Su Cheng still looked at the electronic board calmly.
Then, there is a round of small downward adjustments.
Qi Xiao smiled softly, as long as there could be comings and goings, the rising market put huge pressure on short sellers like them.
He kept smiling and turned his head, hoping to see the same smile on Su Cheng's face.
What puzzled him was that Su Cheng's expression was actually nervous.
"What is going on?" Qi Xiao showed a puzzled expression, similar to Su Cheng's.
A few minutes later, crude oil prices fell slightly again.
There are always some swing traders, or purely technical people who don¡¯t care about the basic market. They are the main force chasing the rise and killing the fall, and they also cause the ever-changing floating market. In this round of rising and falling changes, some traders You can make hundreds of thousands of dollars, or lose hundreds of thousands of dollars.
For Pan Asia Fund, this may mean hundreds of millions of dollars in paper income.
But what Qi Xiao saw on Su Cheng's face was not an expression of making money at all, but more like suspicion.
"The institutions you just showed me that were short-selling, did any of the long positions close out?" Su Cheng came to a computer.
The staff member pressed the keyboard and made a "pop, pop, pop" sound and said, "It will take about a minute."
"hurry up."
"30 seconds bang bang bang"
"Hurry up."
"Ah found arrived."
"Is there any?" Su Cheng was still staring at the curve of the big screen, which was changing every moment.
The man in front of the keyboard looked at it carefully and said: "There are no big long positions that turn short."
"Sure?"
"Sure."
Qi Xiao was completely confused and asked in a low voice: "Dr. Su, what's wrong with you?"
"What happened?"
"That's why you are not anxious when the price of crude oil rises. Instead, the price of crude oil falls. You are a little nervous."
Su Cheng suddenly realized: "Oh, I'm afraid they ran away."
"Run away? Who ran away?"
"These guys who are long, especially the companies that have opened positions at high positions, such as Sumitomo Corporation." Su Cheng smiled and said: "If they take advantage of the rising market in the past two days to close their positions, we need to be less Make a lot of money.¡±
Qi Xiao was stunned, not knowing what to say at all.
For a normal financial institution, the more allies the better, but when it comes to Su City, they are afraid that there will be fewer enemies.
" However, the futures market is a zero-sum game. If some people make money, others will lose. Now there are more funds to go long, and when the time comes, more will be cut. Su Cheng's idea is abnormal and normal.
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