super energy power

The capital of the Pan Asia Fund is invested cumulatively, and its leverage is gradually increased. .175 billion U.S. dollars leveraged the most funds, almost 3000 billion U.S. dollars.

Of course, it is not that US$175 billion can only leverage US$3000 billion, but it is a reasonable contraction for safety reasons.

Even so, this is 17 times leverage, and ordinary crude oil traders will not easily use such a large amount of leverage.

The Pan-Asian Fund obtained a return of more than 3000% through the US$10 billion, that is, more than US$300 billion.

As for how much it is, it depends on whether the withdrawal of these funds goes smoothly.

If there is a tail left, even if only 30% is left, then [-] billion US dollars of funds will be wasted. If the withdrawal is not smooth, the tail may cause losses.

Su Cheng looked at the electronic screen of the exchange and at the same time looked at his own computer screen, urging in his heart to speed up the liquidation.

Qi Xiao became even more nervous. Before he came to Dahua Industrial, he had never invested in a project worth 3000 billion US dollars. At this time, a correct operation and a wrong operation would cost at least several million dollars. The difference, such a huge responsibility, needless to say the pressure.

"14.26." A trader called out quickly in English.

Su Cheng and Qi Xiao also saw it, and the latter said with certainty: "Buy."

The trader repeated "buy" and began to operate on the electronic market.

This is also the difference between electronic trading and manual trading. If the vultures in the trading pool dare to buy crude oil now, as the biggest short, it may cause a major reversal in the crude oil market.

However, there is not so much trouble when placing an order through the electronic market. Although the transaction is also conducted through a broker with a seat, there are many transactions undertaken by the broker, which will not make the market think.

The oil price quickly recovered to the price of 14.32. The trader who worked first clicked the keyboard a few times and said, "I bought 4 lots."

1 lot is 1000 barrels of crude oil, and 4 lots is 42 barrels of crude oil, worth about 600 million US dollars. It can't be said much, but it is a good start.

If calculated on average, the Pan Asia Fund can earn almost US$1.5 per barrel, and if it is calculated based on the initial US$18.22, the profit per barrel is as much as US$4, 42 barrels of crude oil, which is an average of 60 , or up to $160 million.

Qi Xiao glanced back at Su Cheng, and saw that he was satisfied with touching his chin, so he felt satisfied too.

For Pan Asia Fund, this is their first real profit.Before that, it can only be said to be book income at best, and only by repaying the borrowed crude oil can real profits be generated.

If Sioux City is a retail investor, 4 lots of contracts are considered quite a lot, and now they can go out with money and turn left, celebrating happily.

However, with the large number of contracts currently held by Pan Asia Fund, it is still far away from closing positions, that is to say, there is still a considerable amount of time before putting money in pockets.

A few seconds later, the oil price fell below 14.30 again, and Pan Asia Fund bought more than 600 lots of crude oil from the electronic market again.

Now, except for the big short of Pan Asia Fund, other crude oil traders dare not continue to buy more. In fact, there are many small longs who secretly closed their positions or even turned short, because the situation in front of them is very clear. , Continuous bad news can at least guarantee the advantage of the short side within a few hours. If you earn too much, you can't guarantee it, but the profit of about 10 cents is very impressive under the leverage of about 10 times, let alone 5 cents. % profit, which is much better than a "scalping" transaction.

Under the operation of the Pan Asia Fund and the market itself, the oil price fell to around 14 for a while, and rose to around 14.30 for a while.

After coming and going for more than half an hour, various financial institutions finally confirmed the new news of OPEC, and some large parties began to make decisions one after another.

It was An Ran who cut the meat first.The would-be collapsed Fortune 1994 company was known for its fraudulent accounting, but in the present, in [-], it was best known for its idiosyncratic financial regime.To put it in simple terms, Enron was the first energy company to use mathematics to manage the company.

Fortunately and unfortunately, Enron, which was too advanced, did not receive enough supervision.To be more precise, the current U.S. government, or any government in the world, does not have enough strength to supervise Enron. With the government’s shortage of manpower and an average salary of less than 10 U.S. dollars, how can it be compared with It is comparable to hundreds of thousands of senior elites with annual salaries of millions.If Zhengfu really has more talented elites, companies like Enron can’t afford tens of millions of dollars in annual salary. In the end, what Zhengfu has is either ordinary mediocrity or idealists. For the latter to play a role, it is best to understand some politics. Such a requirement is obviously too difficult, so that Enron not only uses mathematical methods to manage the company, but also uses mathematical methods to create fake accounts.

Although the final result was not good, the current Enron Company is the company that pays the most attention to risk control. In the first round of long and short battles, they were the first to withdraw, and in this decisive battle, they also made a judgment and did not Give up again without hesitation.

When tens of thousands of crude oil futures contracts were sold, Sioux City had some admiration for An Ran.

It is a remarkable thing for any company to be able to faithfully and firmly obey the established strategy without being influenced by emotions.As for whether they will make a profit in the end, it can only be said that they will make a profit after all.

Of course, from another point of view, only dead American companies are good American companies.

With the fall of Enron, many parties in the trading pool got out of hand.

Small and medium-sized businesses such as Deutsche Bank, UBS, and Boston Financial have announced their collapse.They do not have sufficient funds in the crude oil futures market, and the margin they can invest is basically less than 2 million US dollars, and most of them operate with a leverage of more than 10 times.In this way, when the price of oil falls by more than 10%, which is 1.4 US dollars, these financial institutions will definitely liquidate their positions. At that time, even if the crude oil falls back to 100 US dollars, it will have nothing to do with them.

As for the financial companies behind them, it is impossible to invest too much power in one market. Every year, tragic long-short wars break out in various futures markets around the world. Financial institutions set capital quotas in order to prevent risks.

If every long and short battle, they can't help but put all their strength into it, not to mention whether they are willing to give up other futures markets, the risks involved in it alone are enough to destroy these century-old stores.

They are different from spot oil traders like Dahua Industrial. The seven shareholders of Fanya are all ready to leave with a fortune. Aliyev, who is not a shareholder, may never enter the futures market again in his life, but financial institutions are To be immersed in this forever, for them, it is more correct to cut the flesh and escape than to fight to the death. Even if the fight to the death has a 70% winning rate, they may not necessarily agree, let alone the current situation.

Some of these small and medium-sized multi-businesses entered the market at around US$15, some at US$16, and some at US$17. Even on average, they are almost on the verge of liquidation. The margin has been passed once or twice, so once you lose confidence, it will be difficult to maintain the same position of many parties.

Pan-Asian Fund, through three dealers, aggressively absorbed crude oil futures contracts, thus closing its own long orders.

The so-called short selling is to borrow crude oil out of thin air from the exchange to sell. Buying crude oil to close the position now is equivalent to repaying the lent crude oil. The difference between the two is the profit or loss of the short seller. .

When **p company's 150 billion US dollars large warehouse was sold out, Qi Xiao was pleasantly surprised to find that his position had been reduced by two-thirds.

And the profit is even more impressive, as much as 180 billion US dollars.

Although the latter two-thirds will definitely not have such a large profit, thinking of the meaning it represents still makes Qi Xiao tremble with excitement.

"It's too exciting, it's too exciting!" Qi Xiao couldn't help saying it twice.

Su Cheng also saw the small note he handed over, chuckled and threw it into the shredder, saying: "Don't forget, Dahua Industrial only has 25% of the shares."

"That's also..." Qi Xiao didn't say it, but still scribbled on the paper: 45 billion US dollars.

A quarter of 180 billion is 45 billion US dollars, which is a simple calculation, but Qi Xiao calculated it twice before confirming it.

It's simple arithmetic, but an incredible reality.

Su Cheng thought for a while, folded the piece of paper and put it in his pocket, and said, "This round, if we win a big victory, I will send this piece of paper to the exhibition room of Dahua Industrial, and let us It is a witness to history."

Qi Xiao froze for a moment, then laughed out loud: "When we win a big victory, I will write another note and write all the profits on it. Maybe it will be a three-digit number."

Su Cheng shook his head and said, "It must be a three-digit number."

"Ah?" Qi Xiao was puzzled.Regardless of the remaining two-thirds of the position, the position of the Pan-Asia Fund is too heavy, and many of them are released as chips. Now there are small and medium-sized financial institutions that have turned short to support the short side The market, but the Pan-Asian Fund that has quietly closed positions will eventually turn the balance. At that time, crude oil may go back to $15, $16 or even $17. On average, there are always some positions that cannot be earned money, or even a small amount of money lost.Therefore, the remaining two-thirds of the position may not make a profit of 45 billion US dollars.

Su Cheng smiled and said, "You forgot about our contract for difference, let's close the position now."

Qi Xiao's eyes immediately lit up like a cat's.

Contracts for difference are not like buying short and short selling on a single futures exchange. It has extremely high leverage and great risk, but it is very easy to close a position.

Qi Xiao immediately picked up the phone and dialed out, and at the same time asked his assistant to adjust the price difference between the two places.

The process of closing positions on the London Futures Exchange was so tense that he didn't have the energy to pay attention to the New York market.

After all, the price difference contract that Dahua Industrial reads to buy, the determined average price difference is only 1.1 US dollars, and the New York market will not follow up in any case with this kind of decline in London.

Sure enough, the crude oil futures contract in the New York market remained above $16.50.The U.S. economy is recovering well, and then there is the peak of air-conditioning electricity consumption. In the U.S., which mostly uses fuel oil for power generation, they have always followed their own price rules and will not be as easily affected by the international market as London.This is also the energy orientation pursued by successive US administrations since the oil crisis in the 70s.

Qi Xiao didn't care what Americans cared about, but he was intoxicated by the $2.2 price difference.

For Dahua Industrial, under the leverage of 2 to 300 times for US$500 million, every 10 cents in the spread will generate a profit of US$3 million to US$6 million. Now that the spread has expanded to more than 1 cent, the profit is reasonable Well over $40 billion.

As a result, the total profit of Dahua Industrial must exceed tens of billions of dollars.

Ten billion dollars!

And it's tens of billions of dollars in cash!

In China in 1994, the real thing was the assets of a wealthy country.

"Hey!"

When the phone was connected, Qi Xiao suppressed the flood of thoughts, and first issued the order to close the contract for difference.

"Understood, close all positions." On the other end of the phone, there was also an excited voice.

... (To be continued.)