The Son of Finance of the Great Age

  Chapter 356 Big brothers join forces

"What? So young? What is the origin? Could it be the son of a senior official of the Indonesian government?" Soros was shocked after hearing Druckenmiller's report, and asked several questions like a cannonball question.

  In his heart, he has categorically denied the possibility of Zhong Shi being an excellent fund manager. You must know that even on Wall Street, young people in their twenties who manage at least one billion dollars of capital do not exist. Moreover, this young man was able to boldly short the Indonesian rupiah when everyone was unanimously optimistic about it, which obviously cannot be explained by ordinary logic.

  The biggest possibility is that this young man is from within the Indonesian government and has been exposed to relevant information as early as a few months ago. In this way, it can explain not only why he was short, but also why he was able to manage such a huge amount of money at a young age.

  Soros, like Druckenmiller, subconsciously believed that Zhongshi used leverage, but even if leverage was used, this Mr. Zhong still has at least hundreds of millions to billions of dollars in management funds. This surprised them in particular.

Druckenmiller, who was far away in Hong Kong, looked helpless, and replied dumbfounded: "According to my judgment, the other party does not seem to be from Indonesia. And what surprised me the most is that this company called Tianyu Capital The management company staff were not too surprised by my presence, they treated me like a normal person, which is very rare."

  For the sake of self-esteem, Druckenmiller did not say the scene where he was "humiliated", but used words such as "ordinary people". But even so, it is enough to surprise Soros. You must know that except for a few places, wherever Soros and Druckenmiller go now will inevitably arouse the crazy pursuit of including the media and colleagues.

Before he had time to think too much, Soros frowned and said, "Stanley, although we have gotten rid of this trouble now, bigger troubles are yet to come. If we can't smooth out this hole in a short time, maybe Investors already have opinions on us.”

  Because the whole world believes that the currency speculation of Soros and others led to the outbreak of the Asian currency crisis, most of them believe that Quantum Fund must have made a lot of money in this financial feast. But in fact, apart from making a little money in the Philippines, Malaysia, South Korea and other currencies, I didn’t make much money in other markets. I finally made a lot of money in Thai baht, and in the end I lost all of it to Indonesian rupiah. position, which made Soros face very dull.

  The problem is not whether Soros has face. In fact, he doesn’t care about whether he has face at all, but the attitude of investors. Earlier Soros made a statement in Hong Kong, declaring that the Asian currency crisis has become a thing of the past. In fact, he also thought so. After initially judging that the US government had achieved its initial goal, he published it privately without consulting the government. Naturally, the White House was very angry at such remarks, and directly put him in the cold palace.

But the actual trend has far exceeded Soros's expectations. The United States has no intention of stopping at all, and soon hits the local currency and financial markets in Hong Kong, South Korea and other places again, making the already somewhat subdued The currency crisis broke out again, and the scope and harm were far greater than those that occurred in Southeast Asia before, which made Soros immediately fall into an extremely passive position.

   On the one hand, he needs to bear the dissatisfaction from investors, and on the other hand, he has cut off the government's clues. Soros urgently needs a victory to consolidate his reputation, especially in the case of just a huge loss of 1.2 billion US dollars.

Druckenmiller is naturally well aware of the current situation, and after thinking hard for a long time, he replied with some hesitation: "Currently the Korean won market has risen, and it has reached the point where 1,400 won is exchanged for 1 US dollar. It seems that There is basically not much possibility of shorting the Korean won. The liquidity of the Indonesian market is extremely poor, and there is considerable uncertainty in the government. We cannot bet on a government that does not follow market rules and do not abide by the promise. Yizhou, The capital control measures are quite strict, and I'm afraid we won't be allowed to enter easily. China Mainland is a huge market, but it's a pity that capital can't circulate freely."

   "So what's your opinion?" After listening to the chatter for a long time, Soros finally figured out a little bit of taste, and asked in a meaningful way.

"Hong Kong! Only Hong Kong can make up for our losses in the shortest time!" Druckenmiller no longer hesitated, and said firmly, "This is Jones's suggestion. In fact, he has the most say in this regard According to the content of the conversation with him, I found that Hong Kong's capital market is a strange place. The economy here is severely kidnapped by real estate, and the entire index is greatly affected by heavyweight stocks. The rise or fall is like a roller coaster. That is to say Investor confidence is very fragile here, which is entirely in our favor to operate."

After a pause, Druckenmiller continued: "In addition, Jones and I also carefully analyzed the slump in Hong Kong last month. In fact, short-selling institutions only sold stocks in London and New York. The Hong Kong dollar position of 6 billion U.S. dollars made the entire Hong Kong government impatient to take countermeasures, including selling U.S. dollars and increasing margin positions. These measures had a major impact on the market, and those who had expected it in advance The short-sellers who saw the relevant situation made a lot of money by shorting stocks and stock index futures. I think if we can also participate in it and make trouble at an appropriate time, I believe that we will not make less than them.”

   "Really?" Soros on the phone asked after being silent for a long time, "Then do you know who these short sellers are selling Hong Kong dollars? If possible, I would like to chat with them."

With Soros' current reputation in the market, if he joins, even if he will not contribute too much in terms of funds, the pressure on the short-selling party will not be a star, so many short-sellers are willing to name Soros Soros is naturally happy to see this happen.

Druckenmiller here touched his nose, thought for a while, and then carefully reminded: "George, what I need to remind you is that it is said that the attack on the Hong Kong dollar last month was carried out by Julian Robertson's Tiger Fund Leading, and they still have a lot of positions in Hong Kong stocks. Should we consider cooperating with them again?"

  As the saying goes, one mountain cannot accommodate two tigers. Although the relationship between Quantum Fund and Tiger Fund has not reached this level, both parties try their best to avoid appearing in places where the other party may appear.

In the previous attack that provoked the devaluation of the Thai baht, Julian Robertson and Soros joined forces for a rare time. This is of course because both parties saw that there was a major problem in the Thai economy, and because the US government asked them to attack the currency system in Southeast Asia. The two sides unanimously chose Thailand, the most serious problem.

Then both sides intentionally avoided each other, one bet heavily on Korean won, and the other bet heavily on Indonesian rupiah. Although the results were different, both sides did not let go of the opportunity to make profits on the other side's territory, at least Soros What is known is that Julian Robertson also made a lot of rupiah.

"It's okay." Soros twitched his brows a few times. Although he had concerns in his heart, he still comforted Druckenmiller, "Julian is still very trustworthy. Besides, our goal is Hong Kong. As long as we join hands Come, believe that he has no reason to refuse."

Soros didn't know at this time that Rodney Jones, one of his most powerful men, was already under Julian Robertson's 24/7 surveillance, and even the conversation between him and Druckenmiller at this time would be sent to Zhu Leanne Robertson's desk. If he really knew this situation, I am afraid that he would never have the idea of ​​"trusting Julian Robertson".

"Okay." After thinking about it, Druckenmiller decided that there was no better opportunity, and then agreed, "I will fly back to New York tomorrow. I will leave the matter here to Jones. I have to say that he The work is very impressive.”

   After a few more compliments to Rodney Jones, Druckenmiller hung up the phone.

  …

   Soros on the side thought for a while, then called Julian Robertson, and said first, "Julian, I have a message about Indonesian rupiah. I wonder if you are interested?"

   "Oh, is that so? What's the news?" Julian Robertson on the other end of the phone resisted the disdain in his heart and replied in an ignorant tone.

Soros was a little excited, and lowered his voice and said: "That's right, after our economists confirmed that Bank Indonesia is indeed spamming currency, and it's for their cronies. Also, their president's health is worrying, I think It's time for you to clear your rupiah position."

   "..."

Julian Robertson on the phone laughed back angrily. After a few sneers, he said in a bad tone: "George, thank you for your kindness, but I have already cleared all Indonesian rupiah positions. Up to now, I'm afraid I've lost a lot of money, don't you think so?"

"That's right. If I hadn't thrown away the Indonesian rupiah in time, I'm afraid I would suffer a huge loss now." Soros followed up with a dry laugh, and then said, "Julian, I heard that you made a lot of money in the Korean won market." Little, congratulations."

   "Aren't you the same?" Julian Robertson retorted bluntly.

Although the cost of shorting the Korean won is very low, the foreign exchange of the Korean won has been surging in the past two days, and there has been an abnormally violent rebound. If it is not expected that there will be rumors of "hedge fund liquidation" in the market, the profit of Tiger Fund may be reduced now. A big part, so Julian Robertson's words are rather unkind.

   Hearing Julian Robertson's words, Soros was a little surprised, but the thought just passed by, and he went on to say: "Julian, there is still a chance to make money now, let's join forces, what do you think?"

  Julian Robertson had already prepared in his heart for this call to go to the Three Treasures Hall for nothing, but after hearing Soros's suggestion, he was still a little surprised. But after thinking about it for a while, he knew that Soros was deeply in the quagmire of the Indonesian rupiah. He proudly lit a thick Cuban cigar and said triumphantly on the phone: "No problem." .George, if the two of us join forces, I believe the entire market will follow us."

  Although Julian Robertson felt that the tone of Julian Robertson was a little weird today, Soros didn’t think about it any further. He just thought about it for a while, and then revealed his plan to short Hong Kong.

  For this plan, Julian Robertson naturally fully agrees. In fact, since he made a fortune in the Hong Kong capital market in November, he has never given up his coveting of this "super cash machine". It can be said that the two sides hit it off immediately. After plotting on the phone for dozens of minutes, they finally agreed to launch another attack on Hong Kong at an appropriate time.

   Thanks to the book friends Sudao Duanyou, born4u.lwd, and Mouse Fei for their monthly support!

  (end of this chapter)