The Son of Finance of the Great Age

  Chapter 344 Shocking news

   On December 6, under the worsening financial crisis in South Korea, Hanla Group, the 12th largest company in South Korea, declared bankruptcy, unfortunately becoming the eighth chaebol to declare bankruptcy this year.

   At the same time, the stocks of the four listed companies under the Hanla Group were also suspended from trading in the Seoul stock market, and the shareholders lost their money. Although the Bank of Korea announced on this day that the first funds provided by the IMF had arrived, the news did not boost the market in the slightest. On the contrary, the bankruptcy of the Hanla Group made investors more concerned about the Korean stock market and foreign exchange market. Confidence dropped to freezing point again.

  Although this is only a separate matter, and the Hanla Group is no longer the group that declares bankruptcy, the market still expresses serious concerns about the financial crisis spreading in South Korea. In addition, there is also such a rumor circulating in the market that due to difficulties in borrowing US dollars, South Korean banks have generally begun to borrow US dollars from banks in other Asian regions, including Hong Kong and Singapore. The one-month lending rate for the Bank of Japan to borrow U.S. dollars rose to 7.2%, which is 1.2% higher than the current U.S. dollar lending rate, while the Bank of Korea called out an ultra-high lending rate of 8%. Bank lending remains difficult.

  Under the interaction of the two, the Korean won fell 3% today, closing at the level of 1297.8 won to 1 US dollar, approaching the support mark of 1300.

   "Fortunately, I didn't fall into the trap, otherwise today's 3% would have become someone else's profit!" After watching the market of this day, Ren Ruowei didn't understand what was going on, wiped the cold sweat from his forehead, and was overjoyed.

The rumors in the market yesterday and the situation on the market once gave Ren Ruowei the illusion that he could close his position at a low position. Just when he was about to enter the market in a big way, he received a call from Zhong Shi. During the phone call, Zhong Shi He just told him lightly that the financial crisis in South Korea was far from over, and these rumors were most likely a trap designed by an organization that knew in advance that a company would declare bankruptcy today. Ren Ruowei stopped decisively at the critical moment, thus avoiding a possible heavy loss.

  Things have developed to this point, anyone can guess that Zhong Shi also has relevant internal support in South Korea, but Ren Ruowei is very sensible and didn't intend to ask about it. He rolled his eyes for a long time, and asked another question in his heart: "Zhong Sheng, who set the trap this time? It's really... too insidious!"

  Zhong Shi touched his nose with an embarrassed expression. In fact, if he could get the news earlier, maybe he would also set up relevant traps in the market, trap some people in the trap, and then use this to make a lot of money. It is the juncture when the IMF and the South Korean government reach an agreement. At this time, it is almost unbelievable to make a slight move on the board.

However, the embarrassment on Zhong Shi's face was just a flash, and he soon regained his composure, and said calmly: "What's the matter? Isn't this kind of trick very common in the capital market? Those stock commentators who talk nonsense on TV every day Don’t marketers all use this trick? First, advocating that a certain stock will go up, and then pull up a few prices, so that people can see the real benefits, and then attract funds to enter the market, then push it up and sell it gradually. The position. The trick is very old-fashioned, the difference is that what happened yesterday is a big game, and they are still bearish, and they need to increase their bargaining chips."

  Ren Ruowei thought about it carefully, and couldn't help but nodded, agreeing with Zhong Shi's analysis.

Seeing that he had no objection, Zhong Shi went on to analyze: "Institutions that are able to deploy such a game must first have sufficient funds to attract the attention of the market. Secondly, they have channels to obtain extremely accurate information. The last point , and the most important point, what they want to deceive should be foreign investors, and institutions that are also shorting the Korean won, because local institutions in Korea, even if they are not supernatural, at least have heard of the plight of the so-called Hanla Group. Moreover, the participation of Korean domestic financial institutions in the foreign exchange market has dropped significantly recently, which basically cannot satisfy the appetite of the players.”

   "Judging from the above points, there are not many institutions that can meet these requirements!" At the end, a sneer appeared on the corner of Zhong Shi's mouth.

"You mean?" Ren Ruowei blinked quickly, looked at Zhong Shi's expression, and carefully calculated in his heart before he said boldly, "Is it the Quantum Fund? According to Zhong Shi's It seems that they are the most suspect!"

   "Who knows!" Zhong Shi sighed, patted Ren Ruowei on the shoulder, and said earnestly, "If you want to survive in this market for a long time, you must pay more attention to news and details than others."

  Ren Ruowei nodded heavily, thoughtfully.

  …

   "It was discovered?"

  Julian Robertson, who was checking emails in his office, was taken aback for a moment, and looked at Billy King suspiciously. After he was sure, he slapped his forehead angrily, and asked in a bad tone, "Isn't there any gain?"

"It's not that there is no gain at all!" Seeing Julian Robertson's expression, Billy King was confused, and after quickly organizing his words in his mind, he replied cautiously, "Except for a big fish Except for those who slipped through the net, the other intended targets were basically caught by us.”

   Hearing it was not in vain. Julian Robertson's face obviously looked better, but then he remembered what Billy King said, frowned and asked, "Big fish? What big fish?"

Billy King rubbed his nose and said with some embarrassment: "Originally, according to the strategy we designed before, after making the illusion that the long and short sides are fighting hard, those institutions eager to close their positions will enter the market to buy Korean won, and then we will You can make a lot of money. It’s just that in the process of pulling up before, a large institution of unknown origin popped up and swallowed up our 50 million US dollars of spot selling. According to our analysis at the time, those few There is no such large financial resources to swallow our bait, so everyone agrees that we should focus on luring this institution, but..."

   "It's just that they didn't fall for it later?" Hearing this, Julian Robertson didn't understand why, it must be that this organization never showed up again after that, and their group did nothing.

Billy King nodded with a bitter face, and said: "Our plan is flawless. Those companies that were originally targeted were not aware of it, and some people even emptied their short positions in Korean won. I just didn't expect the sudden appearance This organization is so cunning, and we don’t know whether they knew the news in advance or perceived our intentions, but they were not fooled.”

"Understood!" After shaking his head, Julian Robertson was also very helpless, but since the established policy had been completed, he didn't have to blame anything, he just said lightly, "Go down and do things. When the right time comes, I will come back again." Notified you."

  Billy Jin quickly exited the boss' room as he was pardoned. After he went out, he had time to wipe off the sweat from his forehead. Recently, the big boss suddenly became very bad-tempered, and he almost always spoke with a stern attitude when talking to people. This increased the pressure on the people working below, Billy. Kim is no exception.

  Yes, this Korean won trap was set up by Tiger Fund. After learning that Korean domestic companies may declare bankruptcy one after another, Julian Robertson had an idea and thought of a way to exchange false news for more positions. Because the liquidity in the market was insufficient at this time, he set his sights on those who followed agency behind him.

  For this kind of behavior, he has no sense of guilt at all. You must know that these people are following him. So far, at least they have earned more than 30% of the exchange rate difference from the Korean won. Even if they sell it now, it is a safe situation, and they have not lost anything. And Tiger Fund may take the opportunity to absorb their positions and build a larger short position.

  Although he didn't catch this big fish that accidentally broke into the fishing net, Julian Robertson is quite satisfied now that he has achieved his goal. Just when he was about to go home, suddenly there was a ticking sound from the computer. Out of curiosity, Julian Robertson took another look and found that another new email had been sent.

   Timely handling of work is Julian Robertson's strength, and it doesn't take long. Julian Robertson sat down again, and after clicking on the email, he found that it came from Rodney Jones, the chief Asian economist of Quantum Fund who unknowingly became the "insider" of Tiger Fund, the expression of Julian Robertson Immediately became dignified, and carefully read the email word by word.

   "God! What are they going to do?" After reading this email in its entirety, even someone as knowledgeable as Julian Robertson couldn't help but gasp, almost unable to believe what he saw.

  …

The time was set a little earlier. Since he learned from Susilo that the Indonesian rupiah might lose its support, Rodney Jones couldn't wait to report it to his boss. The next day, the trading volume in the Indonesian rupiah market soared, reaching staggering billions of dollars. Rodney Jones thought that Quantum Fund was liquidating some of his positions, and he was very happy.

  Since I have come to Indonesia, I naturally have to do some more due diligence. Although he has internal support from the Bank of Indonesia, Rodney Jones does not pin all his hopes on his old classmate. These days, he frequently wanders the streets and alleys of Jakarta to investigate the real economy The operation of the company, and also carried out frequent exchanges with the economists of various securities companies, trying to grasp the first-hand economic data.

After some investigation, Rodney Jones was also shocked by what he saw and heard. The extent of damage to Indonesia's real economy far exceeds what was reported before. In addition, the financial system is also experiencing frequent problems. Most of the private banks are insolvent, and even some state-owned banks are suffering from liquidity confusion due to being run on.

  Although it has not reached the point of economic crisis, panic is everywhere. The Indonesian government has done almost nothing, and they don't know what they have done with so much rescue funds. In addition to these, rumors of Suharto's time is running out and government corruption are frequently circulated among the people, which has also caused some wealthy families in Indonesia to quietly transfer funds, and the situation of fleeing abroad is quite serious.

  That night, Rodney Jones' old classmate and insider came to him quietly again, and the two agreed to meet in a remote cafe on the streets of Jakarta. Susilo reserved a special box and told Rodney Jones the specific location after making sure that there was nothing suspicious.

This place is remote enough that it took Rodney Jones a full hour and a half to find it. When he saw the timid Susilo, he couldn't help complaining: "Dear Tilar, don't you Can't you find another place that's easier to find? Look at this place, it's so remote!"

"calm!"

Susilo looked around, and after making sure that there was no suspicious person following him, he lowered his voice and said to Rodney Jones: "I got a document, the content inside is really shocking, I miss you Should take a look."

   Thank you very much for the reward of the book friend Shu Awesome and the Invincible Flying Dragon King!

  (end of this chapter)