The Son of Finance of the Great Age

  Chapter 479 The Final Word (2)

   Two days later, the yen market finally stabilized.

In the end, BOJ still quietly suffered from Zhongshi’s dumb loss, and finally took action to continue the rise of the yen, and even once raised the yen to a super high level of 111.62 yen to 1 dollar, but in the end the market This was automatically corrected, and eventually the exchange rate of the yen hovered around 115.

  In just four days, from 135 to 115, the yen fluctuated close to 15%. Although the yen market has always been unstable, fluctuations of this magnitude have been very rare in recent years. While making many experts break their glasses, it also caused the short side to suffer heavy losses.

  Afterwards, the market gradually tended to be peaceful. Both long and short sides finally accepted the fact that the yen appreciated, and moved around 115 after finishing their positions. So far, the foreign exchange market of the yen has temporarily entered a period of calm.

The raid on the yen’s foreign exchange market was truly over. Under political pressure, the BOJ had no choice but to support the yen. While giving an explanation to Southeast Asian countries, it also made it difficult for international speculators who shorted the yen. As for a long period of time, funds from all over the world dare not easily bet heavily on the yen and foreign exchange.

  …

   "It's amazing, we lost so much in the same time, it's unbelievable!"

  In the most prestigious Alsis restaurant in New York, Soros leisurely forked a piece of veal, put it in his mouth and chewed it slowly, and took a sip of Maggio red wine after a while, and said this lightly.

  For these top rich people, no matter how much they lose, it will not affect their pursuit of quality of life in the slightest. With their wealth, even if they don't pursue it deliberately, the things around them may be the best on the planet. For example, the veal that Soros ate just now was airlifted from Australia this morning, and the red wine he drank was also made from Cabernet Sauvignon grapes. Naturally, they are all excellent things.

Sitting opposite Soros was Julian Robertson, who had just recovered from the hospital. It was just that he was flushed and energetic at the moment, and he didn't look like a patient at all. He was tasting the steak with gusto. The words he said seemed unaware.

   These two people came together again!

  Naturally, neither of them mentioned a word about the previous quarrel, as if nothing had happened, but neither of them had forgotten such a thing, and it was deeply hidden in their hearts.

"Yes, I also lost a lot!" After filling his stomach heartily, Julian Robertson picked up his glass, took a sip, and said with lingering fear, "If it weren't for my investors, they would be more loyal. If not, I’m afraid it will be difficult this time. But even so, there has been a fund redemption application of up to two billion U.S. dollars recently.”

   "Oh? So much money? Is it the public fund?" Upon hearing this, Soros narrowed his eyes immediately, his face fluctuating, and he didn't know what he was thinking.

Julian Robertson didn't understand what this old opponent was thinking. He smiled and said with a little disdain: "George, don't think about it. Do you think I haven't redeemed it? I flew over to them personally. Interviewed by the supervisors, they are afraid of the current financial market turmoil, and they would rather invest in other public funds or government bonds than stocks and other derivatives. So don’t even think about it, and don’t expect From me, the identity of the investor can be found out."

  As a top hedge fund manager, there is no shortage of investors' favor, especially in the case of outstanding performance, global investors waved checks and cried and asked them to help manage funds. However, the current situation has undergone some reversals. Due to the severe decline in performance in the short term, snobby investors have begun to reconsider the capabilities of these fund managers. With the increase in the scale of fund management, it is becoming more and more difficult to achieve high growth every year as before, and the most indispensable thing on Wall Street is young talents. These people have sprung up one after another, and some of them even Create a jaw-dropping annualized rate of return. Under such circumstances, funds are naturally willing to turn to these young talents.

  Even though there are investors chasing Soros everywhere, it is clear that Soros understands the principle of planning for a rainy day, but Julian Robertson made a little noise, and he inquired about it.

   For the source of funds, the favorite of these hedge funds is various public funds. These public funds based on pensions and pensions have a huge base. In addition to being managed by special personnel, additional investment channels are needed to diversify risks. At some point, hedge funds became one of their favored investments.

  For hedge funds, what these funds want to pursue is not such a high excess rate of return, but to outperform the market and inflation. From this point of view, the pressure on hedge funds that fully pursue performance is not too great, so these public funds have also become one of the favorite customers of hedge funds.

   Every year, hedge fund managers hold meetings to pitch themselves or people who want to start new funds. Of course, these are only in fixed circles. Those long-established top bosses naturally don't need to participate in it, but sometimes they have to personally act as lobbyists, persuading the managers of those public funds to hand over the funds to themselves.

Regarding Julian Robertson's teasing, Soros just smiled and did not explain much, then changed the topic, "Julian, you and I have suffered serious losses recently, it seems that we should do something What, to make up for these losses?"

  In all fairness, the three recent huge losses suffered by these two funds were all caused by political factors. Strictly speaking, the Hong Kong government's deception, the Russian government's shamelessness, and the Bank of Japan's contradictory support are all irresistible factors. Economy and politics are inextricably linked, and the two are mutual aid. But investors won't listen to your explanation, they just want their own money to roll over and grow more and more.

   Therefore, how to appease investors with performance has become the most urgent thing in front of them.

"I know what you mean. But I'm afraid it will take two or three months to prepare before launching the next offensive. After all, they are currently gaining momentum. But if we can persuade Tianyu Fund to sell stocks at a critical time, we will The time can be greatly advanced.”

  Julian Robertson wiped his mouth with a clean white tablecloth, snapped his fingers at the waiter, and soon the handsome young waiter came over, swiftly taking away the plate in front of Julian Robertson. After everything was tidied up, he said calmly.

"I'm afraid it's difficult!" Soros frowned immediately, and after thinking about it, he said slowly, "About the Tianyu Fund and Zhongshi, our people have contacted them. Difficult little guy, very tough, very stubborn, very tricky. But it doesn't matter, as long as we join forces, I believe it won't take long for him to finish playing with Hong Kong."

"Oh, is it?" Julian Robertson deliberately avoided the word "joint forces" and focused on Zhongshi, "In my impression, George, you have not put similar words on anyone On the body, what kind of little guy is this, who can get such a high evaluation from you?"

"I can only say that this is an amazing guy!" Soros thought and thought, and finally used a word like "amazing" to describe, "In 1992, it was said that I met him once in England. , but I have no impression of him at all. Looking at it now, I am afraid that at that time, he even stepped in to attack the pound. You know, he would not have been a teenager at the time."

"This time we lost in his hands. It is estimated that he managed more than 20 billion US dollars. God, it took us old guys decades to manage funds like this, and he is a 20-year-old man. It’s a miracle that a kid around the age of 10 can manage a fund of the same size as ours.”

   Even after knowing these things for a long time, Soros still couldn't hide his inner surprise when he narrated, so that when Julian Robertson saw his expression, the horror in his heart was several times more intense than him.

"Hong Kong, what a surprise!" After listening carefully, Julian Robertson was silent for a long time, and then said slowly after a long time, "It may be the government's funds, and it is not really meaningful to manage them through this person." After all, this matter is too appalling, and I cannot believe it anyway."

"Maybe the phenomenon you mentioned will happen, but it's basically unlikely. If we just failed there, and now we have to return, I'm afraid it will be difficult to convince the hot money to follow us. It will take time, whether it is for you or For me. Of course, as far as I am concerned, there are still problems with Hong Kong's economic system, and we cannot let them go."

"As for the specific situation, I still need time to think about it. There may be a wave in the US stock market recently, and my staff and I need to study it carefully. However, our global market will always monitor the situation in other markets. If we If the time is right, I will contact you."

   After finishing speaking, Julian Robertson stood up, nodded politely towards Soros, and then walked straight out the door.

   "Neither gave a positive response, nor refused in person. Well, this effect is good!" Soros looked at Julian Robertson's back, with a weird smile on his face. He is very clear that he has already planted a seed in the heart of the other party, and he will wait for the right time to germinate.

Regarding the current situation, what cannot be avoided is to obtain new profits in the shortest possible time to convince investors. Therefore, even if Julian Robertson did not give a clear answer, Soros is also very clear that the other party is also the same as himself. Distraught. However, because of that incident, both parties still don't trust each other enough, and once this heart is crossed, it will be a matter of time before the two parties join forces again.

  Interests, only interests are eternal friends.

   After secretly complacent for a long time, Soros turned his head calmly, ready to continue the unfinished meal. After enjoying a sumptuous meal, Soros beckoned, and the waiter immediately stepped forward and handed over the bill. After just a slight glance, Soros' face immediately changed drastically, and he blurted out: "Damn it, this guy didn't pay the bill!"

The waiter secretly despised in his heart, but he didn't dare to show any dissatisfaction on his face. He knew the identities of the two diners very well, so he could only slander: "Just relying on the wealth of the two of you, you can spend hundreds of dollars for such a meal. Dollar dinner, worth splitting between you and me? God, what kind of monsters are these people!"

After reluctantly writing a check for $1,000, Soros did not forget to say to the waiter: "give/me/the/change." This made the waiter even more contemptuous of him. a bit.

   I hope that all book friends will continue to support, thank you!

  (end of this chapter)