To marry into the family in place of his brother? Impossible!

Jiang Jinhuan lowered his eyes and said, "Uncle Song, please speak."

Respectful but not cowardly.

Jiang Zhe calmly returned to his seat, picked up his teacup, and stared intently at Jiang Jinhuan.

He's waiting to see what happens.

In his previous life, he was sweating profusely from these questions; in this life, he wanted to watch Jiang Jinhuan make a fool of himself in front of him.

Song Yuanshan said, "My Song family is in the business of bulk commodity trading, as you should know. Recently, international copper prices have fluctuated greatly, falling by 15 percent in the three months since the beginning of the year."

What do you think is the reason? If you were the one in charge of the Song family's operations, what would you do?

Jiang Jin Huan did not answer immediately.

He lowered his eyes slightly, as if he was organizing his thoughts.

Seeing this, Jiang Zhe's smile widened even further.

In his previous life, when he heard this question, his mind went blank, and he stammered out a few incoherent words.

Jiang Jinhuan looks exactly the same as he did back then; he really is a good-for-nothing.

"What? Is this question difficult?" Jiang Zhe said with a smile. "If you don't know, that's fine. Don't pretend. If you really don't know, you can ask me!"

Jiang Jin Huan ignored him.

Seeing this, Jiang Zhe's face contorted with rage!

Madam Song looked at Jiang Zhe with curiosity. She had always been wondering why Jiang Zhe, who was supposed to be the one getting married, was here.

But not only did he come, he also targeted Jiang Jinhuan at every turn, and Jiang Jiafeng and his wife never stopped him. So what did Jiang Jinhuan face when he was in the Jiang family?

Not only was Song's mother puzzled, but Song Qingci also looked at Jiang Zhe with a strange gaze.

She keenly sensed that Jiang Zhe seemed to have come specifically to embarrass Jiang Jinhuan.

Jiang Zhe sneered again: "Jiang Jinhuan, do you even know? If you don't, just say so. Don't embarrass yourself here!"

Jiang's father also snorted coldly: "Disgraceful thing..."

"Secondly, the output of the two major copper-producing countries, Chile and Peru, increased by 8% and 6% year-on-year respectively in the first quarter of this year, easing the pressure on the supply side."

"Third, and most importantly, the global manufacturing PMI has been below the expansion/contraction threshold for three consecutive months, especially with weak overseas demand, which has directly affected the willingness to purchase copper in the spot market."

Song Yuanshan stopped tapping his fingers on the table.

He leaned back in his chair, his eyes slightly narrowed.

Jiang's mother and father exchanged a glance, both seeing shock in each other's eyes.

Jiang Zhe's teacup stopped in mid-air, and the smile on his face froze.

He knew the answer.

Because in his previous life he had heard Song Yuanshan's standard answer.

However, the standard answer he heard was completely different from what Jiang Jin Huan was saying now.

What Jiang Jin Huan said was much more detailed and profound than what he had memorized.

That's impossible.

"Then what do you think should be done?" Song Yuanshan's voice held a hint of seriousness.

Jiang Jinhuan pondered for a moment: "If it were me, I wouldn't do simple hedging in the futures market, because the current basis structure is not conducive to short hedging."

The LME copper forward curve is at a discount, meaning the market expects prices to fall further in the future.

"so?"

"Therefore, I will adopt an options strategy. I will buy out-of-the-money put options as protection, while selling even more out-of-the-money call options to reduce the premium cost."

This provides protection if copper prices continue to fall without tying up too much cash flow.

Jiang Jinhuan paused, then added, "If Uncle Song is worried about a rebound in copper prices, he can extend the time frame of the option combination to six months, using time to create space."

Song Yuanshan fell silent.

He remained silent for a long time.

The air in the private room became somewhat heavy.

Jiang Zhe stared intently at Jiang Jinhuan, his fingers unconsciously tightening, causing the water in his teacup to slosh slightly.

He wanted to say something, but his lips moved a few times without uttering a single word.

wrong.

That's not right.

In his previous life, Song Yuanshan asked the same question, but the answer he memorized was completely different from what Jiang Jinhuan said.

He had no idea what those terms, like "nominal position" and "stock options," meant.

What does this tell us?

This shows that Jiang Jinhuan didn't just memorize the answers to get by; he genuinely understood the material.

But how is that possible?

How could someone who grew up in the countryside and never had any pocket money understand these things?

At this moment, Song Qingci's eyes brightened slightly when he looked at Jiang Jinhuan.

She has met many young people, all kinds of people, including the rich, the powerful, and the well-connected.

But she could count the number of people who could talk about commodity trading so calmly in front of Song Yuanshan on one hand.

And all of those people were veterans who had been working in this industry for more than ten years.

Song Yuanshan suddenly smiled.

That smile was faint, yet it made Jiang Guodong's heart leap into his throat.

He had known Song Yuanshan for so many years, and he had rarely seen him show such a smile to anyone.

"Second question," Song Yuanshan held up two fingers, "The Song family is currently considering investing in a new energy battery materials project and needs to prepare a complete financial model. What do you consider to be the three most important assumptions? Why?"

This problem is more difficult than the previous one.

Jiang Zhe breathed a slight sigh of relief when he heard this question.

This question is even more difficult. Although he had heard Song Yuanshan's answer in his previous life, he was still completely confused. No, he couldn't even understand the question back then.

He didn't believe Jiang Jinhuan could answer that question.

He felt his chance to shine had arrived.

If Jiang Jin Huan can't answer, he can answer according to the answer Song Yuan Shan gave him in his previous life.

Then he will be able to completely overpower Jiang Jin Huan.

Let Song Qingci and the Song family know that missing out on him was their greatest loss.

Jiang Zhe looked at Jiang Jinhuan, almost roaring in his heart, "Hurry up and beg me, beg me!"

However, Jiang Jinhuan spoke almost without thinking: "The three most important assumptions are: first, the price center of lithium carbonate; second, the pace of production ramp-up; and third, the risk premium of technology iteration."

Song Yuanshan's brow twitched slightly.

These three assumptions are not entirely the same as what he had in mind.

But it is more profound, more realistic, and it even considers things that he hadn't thought of.

This guy is something else. Did he really just graduate?