The Son of Finance of the Great Age

  Chapter 869 The King of Wall Street (9)

   "Ladies and gentlemen, thank you for coming!"

  Boaz Weinstein stood on the stage and started his speech, "In the coming time, I will tell you in a comprehensive and honest manner about some excellent investment opportunities I found in the market."

   At this time, it has been a week since Bloomberg, the Wall Street Journal and the Financial Times broke the news that the CDX market was manipulated. Although this news caused a sensation within a certain range, Boaz Weinstein was disappointed that the situation in the IG9 market has not improved significantly, and the price difference between the five-year contract and the ten-year contract is still slowly increasing. expand.

   Originally planned to force the biggest "taker" in the market to make a move, but the other party seemed indifferent to this, which made Boaz Weinstein feel frustrated.

   Of course, he didn't get nothing. Since the news spread, the credit derivatives market began to investigate the real identity of this big bank. In the end, they came to the conclusion that JP Morgan's London investment department is likely to be the ultimate culprit in manipulating this market.

   One plan failed, Boaz Weinstein quickly made another plan, and directly sent invitations to colleagues around the world, asking them to encircle and suppress JP Morgan's team together.

  So there was this semi-public meeting.

   I don’t know whether it was intentional or unintentional, the location of the meeting was chosen to be held in New York, a conference room at JP Morgan headquarters.

  More than three hundred hedge fund managers and investors gathered to listen to the so-called "seminar" organized by Ackman.

Being able to go from a capital of less than 200 million U.S. dollars to management capital of billions of U.S. dollars in a few years, Saba Capital is a model of emerging hedge funds to a certain extent, although this capital is still insufficient among large hedge funds Look, but that's enough.

  Investors from all over the world filled the conference room, ready to hear what this rising star in the hedge fund world had to say.

   This meeting was organized by Ackerman, the same Ackerman who was making waves with Zhongshi in the European market. Although he was only a minor player in Zhongshi's team, Ackman has an unrivaled reputation among smaller hedge funds.

   It was in such a recommendation meeting that he blew the horn to attack the Leimen Brothers. Since then, he has become famous in the first battle and has become a big shot in the eyes of small and medium-sized hedge funds.

  The nature of such a seminar is basically well understood by the participants. Gather their forces to a certain extent, group together to challenge a certain force, and use this to gain profits.

  All they have to do is find a recognized, profitable direction and rush into it together.

Before Boaz Weinstein came to power, many hedge fund managers had listened to several people's speeches, and they were disappointed that the previous people were either unclear in their descriptions, or they had no clear direction, and they couldn't find any of them. persuasive reasons.

   Just when they were extremely disappointed, Boaz Weinstein's next words immediately caught their attention.

   "What I want to talk about is market manipulation in the credit derivatives market!"

  Facing hundreds of people, Boaz Weinstein said confidently, "I believe everyone has seen the report. Yes, it is the market manipulation of the IG contract that happened in the CDX market."

  As soon as these words came out, there was a low buzzing sound from the audience.

  Although the quality of the participants was very high, there was no loud conversation or noise, but the whispered discussions of hundreds of people still gathered into a big voice.

Satisfied with the reaction of the venue, Boaz Weinstein clicked on the prepared PPT, coughed lightly, and began to say loudly: "I believe that everyone here is like me, there are many people doing arbitrage work in the market ..."

In the next ten minutes, he talked about the arbitrage space between the IG contract price and the single CDS price, the unusual price difference between the five-year and ten-year IG9 contracts, and the continuous influx of arbitrage funds Next, the two remain the same abnormal situation.

   "What is certain is that this market must be manipulated!"

  Finally, Boaz Weinstein said categorically, "This is the best investment opportunity I recommend, buying an index of five-year credit default swaps with an investment sequence of 9."

  The audience was quiet, everyone was thinking silently, but surprisingly, there were no questions asked.

  Boaz Weinstein couldn't help but feel a little disappointed. He made a gesture towards the crowd and walked off the stage sadly.

  Originally he thought there would be a turbulent scene, but it was not the case. At this time, he was not sure whether his analysis was approved by everyone. Since no one came to ask about the specific situation, he had no choice but to leave the podium in accordance with the established procedures.

   "Boaz, please wait a moment!"

   Just when Boaz Weinstein was about to return to his seat, Ackerman, who had been in the background, stopped him, "Good job, Boaz, I have to say that your analysis moved me!"

"yes?"

  Received the award from the boss, Boaz Weinstein finally showed a little smile on his face, "Then William, are you going to buy the target I introduced?"

"this…"

  Ackerman hesitated for a while, and finally said truthfully, "Boaz, can you tell me who is the institution that ultimately manipulates this market? Or, who do you think is the biggest suspect?"

   "JP Morgan!"

Without even thinking about it, Boaz Weinstein blurted out, "So far, although the five major banks have the possibility of manipulation. However, according to various indications, JP Morgan is the most likely target of manipulation. In order to protect their huge deposit positions , they are most motivated to do so. But in the process of protection, they realized that doing so can actually make money, so..."

   "Is that so..."

Ackerman fell into deep contemplation for a while, and said after a while, "Boaz, you have already fought against them on the IG contract. According to your estimation, even if the news leaks out, there is a good chance that they will stop. How big is it?"

   After all, Ackman is just a hedge fund manager who manages less than tens of billions of dollars. If he wants to go head-to-head with JP Morgan, who has funds worth trillions, he has no confidence at all.

Boaz Weinstein immediately understood what Ackerman meant. He was quite disappointed, but he still said truthfully: "Sorry, William, I don't know. I don't know how JP Morgan operates, nor do they know What's your attitude on this matter. But what I can tell you is that there is another giant in the market, which is against JP Morgan."

   "Oh? Is there such a thing?"

  Ackerman's eyes lit up immediately, "Where did you get this news? Why didn't you say it at the recommendation meeting just now?"

   As soon as he blurted out the words, he realized why Boaz Weinstein wanted to hide his secrets, and immediately blushed.

  If Weinstein leaks this news, under such circumstances, investors will think that someone has the bottom line and will enter the market unscrupulously, which will inevitably squeeze the profit space of Saba Capital. And keep this news, even if someone comes in later, based on risk awareness, it is impossible to be too crazy, then most of the profits in the market will be reserved for Saba Capital and the so-called crocodile.

  Boaz Weinstein's selfishness lies here. If you believe him, you can make a lot of money. And if you doubt him, you can only pass by the huge profits.

   "Do you know who the other party is?"

   Coughed twice hard to cover up his embarrassment, Ackerman continued to ask, "Maybe there is some clue? Is it a large bank like JP Morgan?"

   "I don't know about this!"

Boaz Weinstein shook his head helplessly, and said softly, "The revelations in the newspapers, as well as today's recommendation meeting, are all ways I want to lure the other party. But it seems that no employees of the super organization showed up today .I am very puzzled by this point, do they not care about this position, or do they think they have enough ability to fight against JP Morgan?"

   "Sufficient enough to take on JP Morgan?"

  This sentence was like lightning in the dark night, and Ackerman suddenly realized in the fog, "Could it be...could it be..." he said to himself.

   "Do you know something?"

  Given Ackerman a strange look, Weinstein couldn't help asking, "Did you think of something?"

   "Nothing, nothing."

  Ackerman shook his head like a rattle, "I just thought of another thing, which has nothing to do with this one. Sorry, I just lost my mind."

   Just a few seconds ago, Ackerman thought of a sentence that Zhong Shi once said when he was disbanding the group, that a certain super organization was already among his sniper targets. If JP Morgan was the target of Chungshi's sniping, then the whole thing is easy to explain. Why did Weinstein lure the big crocodile to show up again and again, but he didn't show up.

   There is only one answer, that is, so far, JP Morgan's position has not been able to satisfy the appetite of Zhongshi.

  Thinking of this, Ackerman couldn't help but shudder, and silently mourned for JP Morgan in his heart.

Boaz Weinstein, who didn't know anything here, returned to his seat in a low voice, but was surprised to find that the people around him were not listening to what the people on the stage were saying, but were fiddling with phone.

   "What are you doing?"

   He curiously asked a person beside him who was staring at the phone screen, "What happened?"

   "I'm looking at the divergence between the IG9 contract and the market price!"

The other party was a middle-aged Caucasian man in his forties, and he replied without raising his head. After a while, he realized that the person who asked the question did not stop there, so he raised his head and wanted to say something, but after looking at it this way, he realized that the questioner The person who spoke was Boaz Weinstein. The person who spoke to them on the stage just now had a happy expression on his face. He quickly stretched out his hand and said, "Nice to meet you, Mr. Weinstein."

   "You mean, you're looking at the divergence between the IG9 contract and the single CDS price?"

  Weinstein shook hands with the other party politely, and asked with a smile, "Is it what I just said?"

"good!"

  Although the other party lowered his voice, his excitement was still palpable, "If your discovery is correct, then there is serious manipulation in this market. For us, this means that there is a lot of room for profit!"

As he said, he pointed around and told Weinstein in a low voice: "Mr. Weinstein, I can swear to God, at least 80% of the people here are very interested in what you said. As long as it has been verified, I can guarantee that you will recommend it. The meeting is not over yet, at least tens of millions of dollars will enter the market.”

"yes?"

  Looking at the flickering phone screen in the dark, Weinstein grinned silently.

  Finally, his goal was achieved.

  …

   "Mr. Zhong, is that you?"

Ackerman in the background, after Boaz Weinstein disappeared, he called Zhongshi immediately, regardless of the time difference, and asked in the first sentence, "You said that a super agency entered Is it JP Morgan on your sniper list?"

"what are you saying?"

   Zhong Shi, who was in a drowsy sleep, was short-circuited by this nonsensical question, and asked in confusion, "William, what are you talking about?"

   "The situation is like this. At the recommendation meeting in New York today, a small hedge fund discovered a situation of manipulating the market, specifically..."

Ackerman said a lot, and after describing what happened here in detail, he asked again, "I'm wondering if you are the big crocodile in this market, or after hearing the news , Do you plan to enter this market to snipe JP Morgan?"

   "Does anyone else know about this?" Zhong Shi asked weakly as he fell heavily on the pillow.

   Zhong Shi’s words immediately made Ackerman ecstatic, and he said again and again: "No one else will know, I swear in the name of my grandmother."

  Naturally, the other people he mentioned refer to the former small team. As for Zhong Shi's words, he undoubtedly admitted that the "big crocodile" is Tianyu Fund.

   Thanks to the book friends who love Gongyewen, Shui? Bo, qhiou, Four-Eyed Prodigal Son, Hexiang Yuntian, and Xiaoyi for voting monthly! Thanks for the fear of visiting the flower market, and Huang Daxian 007 for the reward! Seeing everyone's enthusiastic support, the author is very grateful, keep going~

  (end of this chapter)