Reborn in Hong Kong as a Tycoon

Chapter 297 The Consequences of Greed

Early in the morning, Lin Baicheng and Yamaguchi Baihui came down from upstairs. The butler Dolce told Lin Baicheng that Mineryu Iwasaki had called and told Lin Baicheng to call back after he woke up.

"When did he call?"

Lin Baicheng asked aloud, walking towards the landline phone.The reason why he asked this question is because the time in Tokyo is 16 hours ahead of Los Angeles, and the time difference between the two places is not small.

Dolce replied, "At eight o'clock in the morning."

"So the call came at twelve o'clock in the middle of the night?"

Lin Baicheng was a little surprised. He looked at the wall clock on the wall and found that it was almost nine o'clock in the morning.In other words, it was almost late at night in Tokyo, and Mineryu Iwasaki might have fallen asleep at this time.

Dorche said: "Mr. Iwasaki said that no matter what time you get up, sir, I want you to call and reply after you learn about this."

"In such a hurry?"

Lin Baicheng sat down on the sofa and picked up the handset of the telephone with an international dedicated line.

"What's going to happen?"

Yamaguchi Baihui was very puzzled. As Iwasaki Mineryu, no matter how big things happened, he could handle them well.

"I'll find out when I get on the phone."

Lin Baicheng made a call while talking.

After a while, the phone was connected.

"Is it Mr. Lin?"

Iwasaki Mineryu's voice on the other side of the phone sounded a little hoarse.

"it's me."

Lin Baicheng responded: "Iwasaki-kun, did something happen?"

"It's related to gold futures. Mr. Lin, you are aware of the violent fluctuations in international gold prices these days, right?" Mineryu Iwasaki's voice was full of bitterness.

"Well, I'm all concerned."

Lin Baicheng was indeed concerned. After all, he had only sold his gold futures for a few days, and he really wanted to know whether he had sold his gold futures at a loss or right.

At the beginning, Lin Baicheng sold at a loss, and the international gold price broke through the price of 240 US dollars per ounce, then continued to rise, and then accelerated the sprint in the afternoon of the day before New York time, reaching a peak of 246.6 US dollars per ounce.

However, also in the afternoon of the day before yesterday, after the international gold price rose to a high of 246.6 US dollars per ounce, it turned straight down and fell to 234.8 US dollars per ounce by the end of the day.

The international gold price on this day started from 242.18 US dollars per ounce. At the highest price, it rose by 1.825%, but the actual increase and decrease of the day was a decrease of 3.047%.If it is counted from the highest point, the amplitude of the day reached nearly 5 percentage points.

This is the trend of the day before yesterday. The international gold price continued to fall yesterday, and it fell quite violently, falling to 224.3 US dollars per ounce, a drop of 4.472%, and fell back to the shock range of the previous few days.

The problem is that the international gold price, which took several days to rise, has not fallen in two days, which shows the strength of the short sellers, and it is conceivable that the international gold price will still fall to a certain extent later.As for which price will be the bottom, no one knows now.

"Mr. Lin, you informed me after the buy order was closed. The price of gold was still rising. My team told me that the price of gold would continue to rise. I was greedy and believed their judgment, so."

Lin Baicheng already knew the unfinished meaning of Iwasaki Mineryu's words, it was nothing more than that he did not close the long position, but still held the long gold futures.

"Iwasaki-kun, you don't need to worry. If I remember correctly, your long order was bought around $200 per ounce, and there is still an increase of more than ten percent. With the five times leverage you used Come to think of it, a profit of 5000 million U.S. dollars is not a lot.”

Lin Baicheng comforted him, thinking that although Mineryu Iwasaki made less money, there was no need to think too much about it, after all, he still made money now.

"Mr. Lin, I'm telling you the truth."

Iwasaki Mineryu on the other side of the phone was silent for a while, and then said: "When the price of gold broke through the price of 240 US dollars per ounce, I added a long order of the same amount."

Lin Baicheng was a little speechless after hearing this: "A long position of [-] million US dollars in principal and [-] million US dollars after leverage?"

".right!"

"In this way, your average cost price is around $220 per ounce, and today's gold price is already close to your cost line."

Lin Baicheng didn't expect Iwasaki Mineryu to be so greedy, and he didn't believe his judgment at all, otherwise, how could he close the long position, but Iwasaki Mineryu increased the long position instead, taking the completely opposite path to Lin Baicheng.

"Yes!"

Iwasaki Mineryu said in a low voice: "I don't believe the judgments of those under me anymore, I just want to hear your thoughts, Mr. Lin, and I hope you can give me some pointers. I am very grateful."

"Iwasaki-kun, I can't tell you how the gold price will go next, because I don't know the specific trend of the gold price. If I knew, I would close the long position at a higher price, and then open a short position at a high price It’s a pity that I don’t even know.”

"What I can tell you is that if the price of gold continues to fall, I will start buying long orders around $210 per ounce. Just as I have been telling you, I still say the same thing, with a one-year or even longer-term In terms of time, I am bullish on gold prices, and I believe that sooner or later it will break through the $300/oz price.”

Lin Baicheng didn't tell Iwasaki Mineryu how to operate, but the meaning of his words was already quite obvious.

"Lin Jun, I believe in you, I will continue to hold these long orders for the time being!"

Iwasaki Mineryu decided to believe in Lin Baicheng's judgment. If the price of gold will continue to fall, at least Lin Baicheng will accompany him to lose money, not just him losing money.Iwasaki Mineryu will make people pay attention to Lin Baicheng's account at Mitsubishi Bank. When the gold price reaches around 210 US dollars per ounce, he will know whether Lin Baicheng has bought it or not.

"Iwasaki-kun, let me put the ugly words first, I can't guarantee that the price of gold will not fall below 200 US dollars per ounce, I can only say that if this happens, you will not only lose money, but I will also be added. Myself!"

Lin Baicheng put his ugly words up front, he didn't expect to be blamed at that time.

"Mr. Lin, don't worry. If the price of gold really falls below $200 per ounce and falls to a lower price, that is my own decision, and it has nothing to do with you, Mr. Lin."

Iwasaki Mineryu expressed his understanding.

"It's good for you to understand, how to operate it, you can figure it out yourself."

After that, the two didn't talk any more and ended the call.

While going to have breakfast, Lin Baicheng asked his secretary Qin Lan to contact Vivien Kelly and ask her if she could resign from Merrill Lynch sooner.Vivien Kelly has agreed to work for Lin Baicheng, but she said that it will take about half a month to go through the resignation procedures.

Lin Baicheng did not fool Mineryu Iwasaki. If the price of gold falls to 210 US dollars per ounce, no matter what happens next, his funds will go long.

Now, Lin Baicheng hopes that Vivien Kelly can come to help him quickly and set up an offshore company, so as not to miss the buying period for long gold futures.

(End of this chapter)