The Son of Finance of the Great Age

  Chapter 477 Misfortunes never come singly (10)

  The Japanese Yen soared 7.66% in one day, plus yesterday’s 2.52%, within two trading days, the Japanese Yen rose from a peak of 134 Yen to 1 US dollar to 120 Yen to 1 US dollar, an increase of 10.44%. Moreover, there are rumors in the market that this is the BOJ pulling up the yen. The original expectation of the yen being bearish in the near future has been turned upside down immediately, and various institutions have given the latest operating strategies in the first time. Different from the previous bearish strategy, except for a few more conservative brokerages who suggested to continue to observe, most of the others gave bullish or even strong buying suggestions.

  For the bears who have accumulated a large number of short positions on the yen, today's market is undoubtedly disastrous, especially Tiger Fund. When the day's trading was over, they were surprised to find that almost all the yen short options could not be executed, and the yen had risen to the bottom line of their position opening, which meant that while the previous floating profit was wiped out, , and also lost a large amount of option premiums.

  These are not the most important. On the yen futures and forward contracts, they are the real losses of real money. A 10% increase is enough to cause fatal damage in a market with dozens of times leverage. Although their brokerages still haven't called for margin calls, these people know very well that this is only a matter of time.

  Although hedging was also done, such as placing a large amount of buy orders at important points such as 130 and 120 as a defense, and buying long contracts in distant months as a hedge, these obviously could not save Tiger Fund’s decline in the yen. Within two days, the huge loss of 1 billion US dollars also made the staff of Tiger Fund in Tokyo tremble. No one dared to stand up and take responsibility for the matter. In desperation, the matter could only be brought to New York.

When the specific figures came out, Robert Citron was so shocked that he almost fainted on the spot. Although he was the person in charge of the global market, he didn't dare to make more claims on this matter. He took the information and went to Colombia and Cornell Presbyterian Hospital rushed.

This hospital with a huge name comes from the merger of two well-known hospitals. The Affiliated Hospital of Cornell University School of Medicine and the Affiliated Hospital of Columbia University School of Medicine merged at the beginning of the year to become the largest and most comprehensive hospital in New York State. The region is particularly well-known.

  In the United States, middle-class families have their own family doctors, and once there is a problem that the family doctor cannot handle, the patient will go to the hospital for help. The doctor's consultation and medical expenses are extremely expensive, and it is one of the typical high-paying occupations in the United States. Therefore, Americans have developed the habit of buying various insurances in their daily lives, and these expenses will be paid out of the insurance premiums when they are needed.

  Of course, these are only for ordinary people. For a top rich man like Julian Robertson, this small amount of money is simply a drizzle. For the sake of health, he was admitted to the VIP ward. Under the advice of the top heart expert in the United States, he underwent several body checks. In case, still stay in the hospital for observation for a period of time.

  While sniffing the smell of soda water, while walking heavy steps, Robert Sitron felt uneasy. His boss was hospitalized for observation, and he still had a key heart problem, but he wanted to disturb him at this time, which made him feel very disturbed. But if he doesn't report the situation in time, I'm afraid he will be even more disturbed.

  However, all these concerns disappeared immediately the moment he arrived at the ward. In this ward with a size of hundreds of square meters, there was only one hospital bed for Julian Robertson. Except for some unnamed medical equipment, the other furnishings were basically the same as those in a five-star hotel. Precious murals, cashmere carpets, crystal chandeliers, etc., make the entire ward luxuriously decorated.

But it wasn't these things that shocked Robert Citron, but at one end of the room, there was a big TV, and Julian Robertson just glanced at Robert Citron, and continued to watch TV show.

   What is broadcast on TV is CNBC, the real-time dynamic news of the global financial market. Seeing this, Robert Citron didn't understand why, his boss probably knew about what happened in Japan long ago. Silently walked into the room, he put the flowers in the vase by the bed, sat down quietly, watched the program on TV together, and at the same time looked at Julian Robertson from the corner of his eye, hoping to get a glimpse of his face. Something is captured in the expression on it.

A full half an hour passed, and after the news at this time period was completely over, Julian Robertson lay down slowly, flicked the remote control on the counter by the bed, and said with a gloomy face: "Say Well, what's going on?"

"It's a lot of losses!" Robert Satron replied subconsciously at first, and then realized something was wrong. He hurriedly looked at Julian Robertson's face, and at the same time aimed at the electrocardiogram on the instrument, for fear of any accidents. What he was calm about was that the curve on the instrument did not show too many twists and turns, and it was still beating at a leisurely pace.

   "God! What's going on!" Julian Robertson didn't continue to ask, but just sighed softly and muttered to the sky.

Recently, his luck has been very bad. First, he burned the carpet tiger that he has always regarded as a mascot, and then bad news came one after another. It was their turn to Japan, the capital base of their funds. Compared with several other markets, the Japanese market is the most critical, so the situation after the accident is also the most serious.

   "What should we do next?" Robert Sitron scratched his head anxiously, not knowing what to do. However, he knew that he couldn't put more burden on his boss at this time, so he could only endure the torment in his heart and asked in a tone that sounded very plain.

  Julian Robertson took a deep look at him, then pressed his hands on the bed, and stood up abruptly. Seeing this, Robert Citron hurried to push the instrument. This instrument for monitoring the heart condition is placed on a movable stand, which can follow the person being monitored. Just like that, Robert Citron pushed the instrument and followed Julian Robertson, and the two walked to the balcony.

"Look, that's Mercury (the morning star)!" In the dark night sky, the stars in the sky are particularly shining, and the brightest star, Venus, is hanging in the eastern night sky, twinkling and twinkling radiating light. Julian Robertson pointed to Venus and said with emotion, "I originally thought that the cooperation between us, just like this star, would bring light to the world. But who would have thought that at the end of the day, I Betrayed and killed terribly. It was hard for me to take, so you see, and here I am, lying here. God, it was a terrible experience."

"You? We?" Robert Sitron was confused, but he quickly realized that his boss was probably explaining why he fainted in the first place, and he pricked up his ears to continue listening. At the time, Julian Robertson stopped talking.

"It would be great if the changes in the market can be traced like these stars. It's a pity that no matter who you are, you must maintain enough humility in front of the great market, otherwise it will mercilessly tear you apart !" After looking at the sky for a while, Julian Robertson suddenly lost interest and said such a nonsensical remark.

   "Boss, what do you mean..." Robert Citron stuttered, hearing a hint of meaning. At this time, he vaguely guessed a possibility in his heart, but he couldn't believe it, so he dared to ask.

   "That's right!" Julian Robertson turned his head, stared at Robert Citron with burning eyes, and said word by word, "I want to quit the foreign exchange market, forever!"

  The financial market is divided into many types. If it is divided according to the nature of the product, it can be roughly divided into two categories: traditional financial products and derivatives. And if it is divided according to the target of investment, it can be divided into stock market, bond market, foreign exchange market, futures market, option market and so on. Among these markets, although the foreign exchange market is not the largest, due to the time difference, it has an unparalleled advantage over other markets, that is, it can be traded around the clock.

  A never-ending market means never-ending opportunities to make money. It is indeed incredible to want to give up such a market. Robert Citron opened his mouth wide, wanting to say something to make the boss take back his opinion, but when he thought of Tiger Fund's strongest stocks, he swallowed the words he wanted to blurt out, because there was no foreign exchange market, Tiger Fund can also thrive in the stock market and related markets.

  Perhaps it is really a good thing to quit the foreign exchange market, he thought again in his heart.

"However, boss, if we withdraw from the yen market now, the loss will be more than the current 1 billion US dollars. It may be even greater, and the loss may even expand to more than 50%." After thinking for a long time, Robert Citron still Express your concerns.

   As the main force of short selling, if large-scale liquidation occurs at this time, it will undoubtedly be captured by the bulls in the market. And this way of admitting defeat will not attract any mercy. The other party will only take the opportunity to sprinkle salt on the wounds of the short sellers, and then continue to swarm them until they are routed out of the market.

"Otherwise?" Julian Robertson shook his head and said helplessly, "Firstly, the foreign exchange market is indeed not our strong point, and secondly, do we have the strength to compete with institutions like BOJ? I understand what you mean, but this One lesson was too impressive, so I had to make this difficult decision."

"I think we should wait for a while. There should be some short-sellers who will not be willing to fail. They will definitely fight BOJ. When the yen depreciates slightly, it will not be too late for us to enter the market!" Seeing myself The boss's determination to quit remains unchanged, that's all Robert Citron can persuade.

"Alright!" Julian Robertson nodded and agreed after thinking for a while. After entering the room, just lying on the bed, he suddenly remembered something, and quickly told Robert Satron, "Give investors Send an email and tell them that the redemption cycle has been changed from one month to three months, and this must be done immediately. The news of our huge loss will soon be heard in the market!"

  Robert Sitron agreed, and then quietly retreated out. At this moment, he didn't feel much. Even though his boss decided to withdraw from the foreign exchange market, even after Tiger Fund lost as much as 3.6 billion U.S. dollars in capital in the past half month, he still believed that his boss could Revive the reputation again.

   It’s just that he would never have imagined that Tiger Fund lost another 600 million U.S. dollars in Japanese yen because of the temporary refusal he said just now, and the total loss reached 1.6 billion U.S. dollars.

   A sentence is so expensive, it must be unprecedented!

   Thanks to book friend Bookworm 18622 for voting monthly!

  (end of this chapter)