super energy power

Qi Xiao tried his best to include new oil companies and financial institutions in the market. It is relatively easy to count financial companies, but it is more difficult to count oil companies without seats. Although many companies are not included in the list, this It is still an extremely 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 the funds under Bear Stearns have joined the market."

"Do more?"

"Yes, Bear Stearns published 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 one of the world's top [-] companies. Its reports and its funds are naturally heavyweight.

Su Cheng suppressed a smile, and continued to ask: "An Ran is back too? Go long again?"

Qi Xiao nodded heavily, and said, "They lost at least tens of millions of dollars in the last round, maybe more than 1 million dollars. They probably want to make up for it."

Enron is also a world-class company, well capitalized and confident.

Su Cheng swiped his finger from top to bottom, and then asked: "And Lehman Brothers Holding Company?"

At this time, Qi Xiao's face was full of clouds, and he said: "It's also long. They mainly buy financial products in this area from customers. The total amount is not too much, and the trading is relatively frequent. The opening of London crude oil did not break through 16." The dollar is amazing enough."

Hearing this, Su Cheng finally couldn't help laughing.

Qi Xiao looked at him in astonishment, and really wanted to ask "Why is my lord laughing?"

Su Cheng shook his head with a smile, he couldn't explain.For many Chinese in later generations, there are probably far more people who know Enron and Lehman Brothers than Morgan Stanley.They are typical bankrupt companies, and the former can be studied in accounting textbooks—if any Chinese accountant can learn one-fifth of the fake accounting skills of Enron Accounting, he will not have to worry about buying a house, buying a car and marrying a wife in China problem.

The newly joined Bear Stearns is not much better. Although it is a super financial company, it was the largest securities company in the world in some years, and had generated tens of billions in revenue. In the crisis, after all, it was sold to JPMorgan Chase for a total price of 08 million U.S. dollars.

In the eyes of Sioux City, these prominent companies are more like a symbol of failed finance.

They miraculously got together and stood aside, which was the main reason that made Su Cheng laugh.

However, Qi Xiao couldn't feel Su Cheng's smile, he looked at Su Cheng with a sad face, thinking: The chairman must be mad because of anger.

Su Cheng took the opportunity to laugh for a while, releasing the pressure of the past few days. Although the book profit has already reached about 50 billion US dollars, how to convert this money into cash is the real test for them.

As the giant of the short side, the Pan Asia Fund cannot relax now, not only cannot withdraw a single cent, but also keep piling up heavy money on the short side.

The price difference contract invested by Sioux City can be withdrawn at any time, but its profit has not been maximized, and Sioux City wants to wait a little longer.

Therefore, the funds in Sioux City's hands are actually decreasing.

The longer the time, the more the reduction, and the more risks will accumulate. Qi Xiao is naturally more sensitive to this kind of risk. Seeing Su Cheng's laughter stopped, he said in a low voice: "Su Dong, the direction of the market is not special. Well, we also have to be careful with these companies. Although Bear Stearns and Lehman Brothers only have their funds and branches involved, they still have a lot of money to invest. Enron has made a comeback with even more momentum, and I’m afraid it’s not a good thing..."

Qi Xiao chattered a little, which was quite different from usual, and it was also a sign of great pressure.

If he had the right to make the decision, he would definitely close the position now, even if he had some losses, he would not hesitate to do so.

Su Cheng didn't have much financial knowledge and background, but he had a firm will that he had cultivated over the years, so he said "hmmm" and let it go.He is planning to build a century-old company, but he doesn't want to spend a century-old company.For this futures war, he has made so many preparations, probably more than other companies combined. With Su Cheng's heart, he will persevere no matter how hard it is.

Qi Xiao already knew what Su Cheng was thinking, and this time he just wanted to remind him, and then he began to report on various transactions in the market.

The futures market is ever-changing, and Su Cheng has no time to stay in the office and read the data, so Qi Xiao will report the results after sorting out, always letting him understand the market trend.

While listening, Su Cheng tapped his fingers on the table, thinking.

Because after one night, yesterday's bad news has almost exhausted its power, and the price of crude oil is gradually rising steadily. Qi Xiao's anxiety also comes from this. While he was talking, he was also observing Su Cheng expression.

Su Cheng's answer was unexpected and reasonable, and it can be summed up in one word: "Wait."

While waiting, the price of crude oil picked up step by step.

The traders of Pan Asia Fund looked at the upward curve, and all of them were sweating.

This is not a business that uses a little spare money to speculate in stocks and earn some spare money. In the futures market, there is no such thing as getting stuck or unwinding, or making a profit or cutting the meat, or making a big profit or losing everything...Banks and other financial institutions give Ten times and twenty times leverage is ten times and twenty times the margin funds, and the cost of using this money is not low.

Once the curve is adjusted up, it is not easy to wait for the curve to come down.

Stock investors can shout that I am locked up, and then wait for a few years to wait for the 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 undoubtedly devoured everyone's profits.

Starting from US$18.22 to US$15, the profit of Pan Asia Fund has reached more than US$0 billion, and Sioux City alone can get more than US$50 billion in profits.

If the price of crude oil does not jump up by 10 cents, the total profit will drop by hundreds of millions of dollars.Because the current Pan-Asia Fund is almost fully operating.

The capital of 175 billion U.S. dollars, borrowing 15 times leverage, represents a total investment of 2600 billion U.S. dollars. Although it is not as good as the bond market and foreign exchange market, nor can it be compared with the mature derivatives market, it is close to 3000 billion U.S. dollars. , It is almost the same as the investment funds of one of the best super consortiums like JP Morgan Chase.

By the time the electronic market opened, the oil price had risen to $15.68, and it seemed that it was about to attack $16.

Su Cheng finally came to the big office and began to pay attention to the electronic disk.

Qi Xiao felt relieved inexplicably, thinking: As long as Director Su pays attention, he should be fine.

When he was working, he also kept an eye on Su Cheng, ready to provide consultation.

Besides Qi Xiao, other people in the office were also paying attention to Su Cheng.This time, Pan Asia Fund's futures operation does not follow common sense, and is basically carried out within the framework set by Sioux City. Therefore, the traders and staff including Qi Xiao are not so much confident as they are trusting. Sioux City.

He has already earned more than one billion US dollars in book income for the Pan Asia Fund. With such a large sum of money, even if it is placed on Wall Street, he should be very popular, not to mention Sioux City is the boss.

After a while, the price of crude oil in October jumped up two gears.

Su Cheng showed an expression of "Is that so", seeming very relaxed.

Qi Xiao, who should have been nervous, also felt at peace, as if he was affected by Su Cheng's relaxation, and calmly ordered: "Keep the original short selling rhythm, and let the vultures not be in a hurry."

Su Cheng listened and nodded slightly.

Qi Xiao suddenly settled down.

Then there were two rounds of jumping up, and Su Cheng was still looking at the electronic board calmly.

Then, there was a round of small downgrades.

Qi Xiao showed a slight smile, as long as there are exchanges, it will be fine, the upward market puts enormous pressure on short sellers like them.

He kept smiling and turned his head, wanting to see the same smile on Su Cheng's face.

What puzzled him was that Su Cheng's expression was actually tense.

"What's the situation?" Qi Xiao showed a puzzled expression, similar to Su Cheng's.

A few minutes later, crude oil prices had another small drop.

There are always some swing traders, or pure technicalists who don't care about the basic market. They are the main force chasing ups and downs, and they also cause the constantly changing floating market. In this round of ups and downs, 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 book income.

But what Qi Xiao saw from Su Cheng's face was not an expression of making money at all, but more like suspicion.

"The institution that just sold short that you showed me, has any multiple positions been closed?" Su Cheng came to a computer.

The staff pressed the keyboard and made a "snap" sound, and said, "It will take about 1 minute."

"hurry up."

"30 seconds... bang bang bang..."

"Faster."

"Ah... found... here."

"Is there?" 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 is no such thing as a big multi-party turn-off."

"Sure?"

"determine."

Qi Xiao was completely confused, and asked in a low voice: "Su Dong, what's wrong with you?"

"What's wrong?"

"That is, you are not in a hurry when the price of crude oil has risen, but the price of crude oil has dropped, so you are a little... nervous."

Su Cheng suddenly said, "Oh, I'm afraid they ran away."

"Run away? Who ran away?"

"These guys who are long, especially those companies that have built 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 cut their meat and close their positions, we should be less Earn a lot."

Qi Xiao was stunned and didn't know what to say.

For normal financial institutions, the more allied forces, the better, but when it fell on Su Cheng, they were afraid that there would be fewer enemies.

However, the futures market is a zero-sum game. Some people gain and others lose money. Now that you have more funds to go long, you will cut more meat when the time comes. Su Cheng's thinking is abnormal and normal.

... (To be continued.)