Coquettish Rebirth

Barings Bank (barings bank) was founded in 1763 by Sir Francis Barings. Due to its flexibility and innovation, Barings Bank soon achieved great success in the international financial field.Its business scope is also quite extensive. Whether it is refining copper ore in the Congo, trafficking wool from Australia, or digging the Panama Canal, Barings Bank can provide loans.This Barings Bank can be said to have been well-known at home and abroad for many years, but although this Barings Bank is a commercial bank, it has a very interesting feature, that is, it does not open services to ordinary people, but only serves big customers, so many times they bank You can't be a merchant, you can't wait for customers to come to your door, but you have to take the initiative to look for opportunities.

In 1803, when the newly born United States purchased the southern state of Louisiana from France, the funds used came from Barings Bank. In 1886, Barings Bank issued the "Guinness" securities. Buyers flooded into the bank with application forms in their hands. Later, they had to use energy to maintain it. Many people bought a small amount of stocks after queuing for several hours, and then Opportunistic throw.By the time it was sold the next day, the stock price had doubled. In the early 20th century, Barings was honored to have a special client: the British royal family.Due to the outstanding contribution of Barings Bank, the Barings family has won five hereditary titles.This can be regarded as a world record, thus laying the foundation for the prominent status of Barings Bank.

And such a world-famous bank was destroyed by a trader in the securities department of the Singapore branch.How a tiny trader ruined Barings BankThis guy named Nick Leeson was a staff member in the bank clearing department of Morgan Stanley before entering Barings Bank.After joining Barings Bank, because of his good performance, he quickly went to the Indonesian branch to work in liquidation. Because of his good performance, he was soon regarded as an expert in futures and liquidation.

Barings Bank was very satisfied with Leeson's performance and promised him a better position in an overseas branch. So in 92, he was sent to Singapore as the director of futures delivery.Soon to be the head of trading.The fact that one person is in charge of both transaction and delivery makes the function of mutual restraint organization within the bank lose.After arriving in Singapore, he received a call from the headquarters asking him to set up a "wrong account" with a small amount in the Singapore branch.This so-called wrong account means.That is used to fill in the holes for all kinds of mentally handicapped employees in the bank!For example, a client originally entrusted Barings Bank to help buy 6 copper futures in June, but the staff made a mistake and bought them in March.In this case, of course, the contract bought in March cannot be given to the customer. Instead, he will buy another contract in June according to the customer's request, and then throw the contract bought in March into the wrong account "3". It was bought by the bank itself!

When Li Sen came to Singapore.The head office felt that there were too many erroneous transactions of large and small amounts in the account 99905, so they wanted to separate, so Li Sen was responsible for setting up a small account in the Singapore branch.Li Sen saw that there are many Chinese in Singapore, so he set up five accounts with "88888" according to Chinese habits.And this 88888 account is equivalent to giving each branch a small privilege, allowing them to handle small losses or mistakes by themselves, and don't put trivial matters into the wrong accounts in the head office.

soon.This 88888 account must be used. On July 1992, 7, Wang Jin, a trader under Li Sen who had joined Bahrain for only one week, made a mistake-when a customer Fuji Bank requested to buy 17 ri economic index futures contracts, the trader mistakenly sold 20 contracts .The error was discovered when Leeson was doing liquidation work that night. If you want to correct this mistake, you must buy back 20 contracts, indicating that the loss calculated by the closing price of that day is 40 pounds, and you should report it to the London head office.However, under various considerations, Leeson decided to use the wrong account "2" to undertake 88888 ri economic index futures short contracts to cover up this mistake.

But soon, Li Sen's colleague and friend made the same mistake again, buying the same amount of futures that Li Sen had ordered him to sell in September.This is a loss of 9 million pounds!Originally, this kind of thing should be reported to the head office, but Li Sen was involved again!Because of Li Sen's lax supervision, his good friend will make mistakes. If he reports to the head office, this kind of problem will appear shortly after he takes office, and Li Sen himself will not be able to get involved.So I had no choice but to transfer the 8000 million loss to the 8000 account.

But it doesn't matter if it's transferred in. The problem is what to do when the head office checks in the future?Always be found!In order to avoid being discovered as much as possible, Li Sen simply embezzled public funds from the bank and started speculating in stocks and futures.But I don't know if it's because of the pressure or bad luck. Anyway, I didn't make much money, but I lost more and more!It can be said that in order to make money to make up for the loss, Li Sen has lost his sense of normalcy. He began to rush to the place with the greatest risk and the most profitable, and he couldn't even analyze it objectively.

Before the Great Hanshin Earthquake, Li Sen watched the Japanese exchange rate continue to rise, and was always optimistic about the rise of the Japanese Economic Index, so he invested a lot of public funds to buy the rising futures of the Japanese Economic Index.If Li Sen had been less ambitious and hadn't taken the riskiest way, then the most he would lose this time would be a little principal.But Li Sen was afraid that the head office would find out, and the result of such a crazy speculation was that Barings Bank lost as much as 14 billion US dollars directly after the Hanshin earthquake!Directly insolvent and bankrupt!

In the end, Li Sen, who wanted to escape, was caught in Germany and sentenced to more than ten years in prison.For a person, a fixed-term sentence of more than ten years is terrible, but what is even more terrible is that such a promising guy has brought down an international commercial bank with branches all over the world by himself...

But Jia Hongjian and the others are different. They also trade in stock index futures. Jia Hongjian and the others are now earning more than one!Specifically, if the Chinese stock market is an example, making money by doing stock index futures is equivalent to playing games with the points of the stock index.It is not the same as calculating how much money is earned based on the price and increase of a single stock in ordinary stock trading. Stock index futures calculate money based on points!For example, the price of stock index futures in the Chinese stock market is 300 yuan, so at 2000 points, the total price is 60 yuan.And the 60 is "one lot" or "one bite", but when playing with this stock index futures, there is financial leverage. 60 as a deposit is fine!

If you are long, that is, if you buy up, if the large-cap stock index rises from 2000 points to 2030 points, then if you close your position and sell it at this time, you can earn a profit of 30*300=9000 yuan!The handling fee for removing some leverage is messy, which is equivalent to earning a few thousand or nearly 6 yuan from a principal of 1!What kind of money making method is this?Isn't it more profitable than trading stocks in the usual stock market?

Moreover, what you need to know is that in the case of the Japanese economic index futures, the Japanese economic index itself was more than 19000 points before Jia Hongjian entered, and nearly 20000 points!A total of 25% fell, which is a drop of nearly 2500 points!Even if it is calculated based on 300 yuan for one point of China's stock index futures, you can earn 2500 yuan with a drop of 75 points!Of course, because the Chinese stock index itself has a relatively small plate, the price of one lot is also relatively small, while the price of one lot is much more expensive in Japan, but in general, Jia Hongjian and the others earn more!

In terms of economic index futures, the price of nearly 500 points of the index is 950 yuan per point, so Jia Hongjian and the others bought a lot at about 11 million yuan, or more than 8 US dollars, and because of the high leverage , so it actually costs less than $7000 to be short!So after investing 25 billion yuan, Huaxia Hi-Tech shorted 2500 lots of ri index futures!But now it has fallen by nearly 7 points, so 3 lots can make a total profit of 57 million US dollars, a total of 8 billion yuan!This is still not the principal!If the principal of 6 billion yuan is included, it is equivalent to throwing in 25 billion yuan and taking out more than 25 billion yuan!The money earned in such a month is almost comparable to the net profit of Huaxia Hi-Tech in a year!

Seeing that they had made so much money, Hideaki Hatta and his wife were completely dumbfounded, and Jia Hongjian also muttered a little-"No wonder the elites in the United States have all gone to Wall Street to play financial derivatives, this shit is more serious than doing business Is it possible to make more money?" And when Jia Hongjian called home and told his parents, when his parents heard that they would get back a total of 80 billion, Su Ping's reaction was like this-"80 One hundred million? Ri yuan? You child!"

"No, it's RMB!" When Jia Hongjian said this, Su Ping and Jia Gang fell silent for a while on the spot!After Jia Hongjian's explanation, although the two of them still felt that the stock index futures were cloudy and misty and difficult to understand, they also understood that Jia Hongjian was serious—"You mean, you spent less than tens of millions. 60 million to help the common people in Japan, and then relying on the earthquake in Japan, I made back nearly [-] billion? Is this considered a disaster for the country?"

"Forget it! But it's not our national calamity, it's the national calamity of our deadly enemy. We sold him, and then coaxed him to sing praises to us. Isn't that bad?" Jia Hongjian asked his mother back with a smile.