The Son of Finance of the Great Age

  Chapter 249 Tripartite Force (2)

   The attack on the Thai baht is divided into two markets, the spot foreign exchange market is the main one, and the futures foreign exchange market is supplemented. This is determined by the nature of the two, because once the Thai baht depreciates, the position sold through the spot foreign exchange market will immediately make a profit. Although the same is true in the futures foreign exchange market, due to issues such as liquidity and future expectations, the actual return may be higher than that of the current foreign exchange market. Not the spot foreign exchange market.

  However, the influence of the futures foreign exchange market is no less than that of the spot foreign exchange market. Because of leverage, a small amount of funds can leverage ten times or even a hundred times the contract. Therefore, the price of the futures foreign exchange market has a huge influence on the spot foreign exchange market.

Moreover, with offshore interest rates still high, the foreign exchange market has naturally become the main battlefield for international speculative funds. After all, not everyone is like Quantum Fund and Tianyu Fund, before the BOT announced an interest rate increase. Locked in interest rate.

   "Sure enough, it's here!" At this time, the weather was clear and cloudless, and a large area of ​​strong sunlight shone directly into Zhong Shi's office, making people drowsy. Zhong Shi was half lying on the table and chair, sliding the mouse a little boredly, but his mind was full of Yuan Yuanzhi's shadow. Just when he was thinking wildly, the market software on the desktop suddenly flashed a dazzling red, and then the alarm sounded beeping. This was his pre-set alert, and it would automatically alarm when the Thai baht fell to a certain level.

   Seeing that the program was working, he immediately sat up straight and stared at the computer screen intently, scanning the data such as the number of lots sold, the transaction amount, and the number of pending orders line by line into his eyes, and quickly calculated in his mind. At this moment, the door of his room was suddenly opened from the outside, and Andrew appeared in front of him profusely in sweat, and shouted out of breath: "The baht has been attacked violently, and it is almost approaching the limit."

Although Zhong Shi's office never locks the door during working hours, anyone can come in, but generally only Andrew and Liao Xiaohua can come in and out of this office frequently, and the other employees have a tacit understanding and will not come unless it is absolutely necessary. to here.

  Zhong Shi nodded, and said: "I have already discovered that such a violent attack has exceeded our expectations. It seems that the United States has made another move."

   At this time, after several days of selling day and night, the Tianyu Fund has a position of less than 30 billion baht, which is a little over one billion U.S. dollars when converted into U.S. dollars. Compared with the selling share, this part of the position is already very small. It can be said that Zhongshi's short selling position has been fully established.

   After a pause, Zhong Shi went on to say: "Now is a good time for us. I believe that such a violent attack will definitely arouse the reaction of the market. The BOT will also attack with all its strength. It is a good show to watch."

  Andreu scratched his head, thought for a while, and suddenly said: "What about us?"

"Us?" Zhong Shi glanced at Andrew with great interest, and reprimanded: "Of course we will continue to short and sell all the Thai baht we have in hand. I want to see if BOT can still How long will it last!"

  When he said this, his tone was cold, his face was gloomy, and his whole person showed a kind of domineering. Andrew was startled for a moment, then shook his head, but he didn't take it seriously in his heart, it was just beating a central bank. Not to mention the central banks of Asian countries, even the Bank of England, which has a history of more than 200 years, has been defeated by hedge funds.

   "Do you think defeating a central bank is nothing?" Zhong Shi glanced at Andrew, seeing the indifference in his eyes, and asked lightly.

  Andrew nodded, and said casually: "Didn't we beat the Central Bank of Mexico before, and I also made a fortune in the Brazilian stock market, which is really very proud to say."

At the end of 1994, Zhongshi tried his best to use leverage to sell the Mexican peso in the foreign exchange market. To a certain extent, the value of the peso was unstable, and finally forced the Mexican government to announce the expansion of the fluctuation range, which in turn caused the panic of foreign capital in Mexico. The large-scale flight phenomenon, Mexico's foreign exchange reserves were exhausted within two days, and it was forced to announce the peso's free float, which further triggered stock market fluctuations throughout South America, and finally made Andrew, who had established a short position earlier, a big profit Pen. This is also one of the few glorious achievements in Andrew's investment career that he should be proud of.

  Of course, Andrew was skeptical about Zhong Shi's deployment afterward. Zhong Shi could only tell him the whole offensive process, explaining that this was the result he obtained through analysis. When Andrew heard that the depreciation of the Mexican currency that shocked the world was actually caused by Zhongshi, he was not surprised by the chain decline of the stock markets of Brazil, Argentina and other countries.

   This time when he heard that Zhong Shi was going to repeat his old tricks, he naturally didn't care.

Seeing him nodding, Zhong Shi curled his lips, shook his head, and said, "Southeast Asia is different from Central America. There was a currency crisis in Mexico, and then the United States joined forces with the IMF and other countries to provide assistance in a timely manner without too many additional conditions. The regional currency crisis has been stabilized in the shortest possible time. But this time, the United States will not assist Southeast Asian countries. Although the IMF and the World Bank will not sit idly by, they will definitely use this to raise a lot of harsh The conditions are completely different in nature.”

Andrew's mind is all about the Western free economy, and he doesn't know much about the Southeast Asian market mixed with complicated political factors. Moreover, Hong Kong is also known as the freest market economy in the world, so he is even less interested in studying complicated markets. The economic situation of the Southeast Asian countries, when he heard what Zhong Shi said, he asked in puzzlement: "What's the difference?"

   "You'll know later!" Zhong Shi let it go, and then got up and walked out, saying as he walked, "Let's go out quickly, the researchers outside may be impatient."

   After regaining his senses, Andrew remembered the purpose of coming here, and hurriedly followed Zhong Shi out.

"The current quotation is 25.97, which is almost at the limit of floating. The foreign exchange market has already fallen below 26, and the current quotation is 26.03. Obviously, it is not optimistic about the market outlook." When Zhong Shi appeared in the trading In the room, Ma Jiarui immediately spoke quickly.

   During the conversation between Andrew and Zhong Shi, the spot quotation of Thai baht dropped by another basis point. Obviously, the sellers in the market overwhelmed the buyers, causing the exchange rate to fall further.

  Zhong Shi nodded without saying anything. He looked up at the researchers around him, and found that they were all looking at him with very complicated eyes, including puzzlement, confusion, and inquiry, but more of them were eager to try.

At this moment, someone shouted: "Future Exchange has taken some action. The previous diving has been smoothed out, and it has risen to 26. Judging from this strength, it must be BOT entering the market." The interface switched to the Thai baht futures contract, and found that a long green line rose up, and the quotation was raised to 26 almost in the blink of an eye.

  Under such circumstances, there is probably only BOT in the market that has the ability to raise the Thai baht level to this level in such a short period of time.

  Everyone thinks so, and Zhong Shi is no exception.

"The price of the spot foreign exchange market has also risen!" Almost at the same time, the researcher monitoring the spot foreign exchange market also shouted, and everyone switched back to the spot foreign exchange market, and found that the Thai baht exchange rate, which had fallen just now, had also risen by two basis points. Quotes at 25.95 are back to the previous level at the beginning of the attack.

"It's time for us to take action!" Seeing that Zhong Shi hadn't issued a trading order for a long time, Ma Jiarui couldn't help feeling anxious, "According to the current price, as long as we buy low and sell high, we can consume a considerable part of BOT's funds. .”

   "No!" Zhong Shi flatly rejected his proposal, "Let's directly raise the quotation to 26, let the market know our ultimate goal, and stop entangled with the BOT!"

  As soon as this remark came out, everyone was shocked. Although everyone understands at this time that the ultimate goal of Zhongshi is to destroy Thailand's currency system, the problem now is that no one knows when the Thai baht will collapse. They are all willing to use this form of buying low and selling high to repeatedly arbitrage, Cutting flesh with a knife consumes the funds of the Bank of Thailand like a knife, and finally consumes the BOT step by step.

But now what Zhong Shi said is completely contrary to most people's thinking. He is naked in one step and sold all the remaining Thai baht, and it is the lowest price of the floating limit, which means he wants to buy it back at a lower price. The Thai baht has become impossible, we can only wait for the depreciation of the Thai baht.

Although Zhong Shi said that Thailand's foreign exchange reserves are not as much as they claimed, in fact, no one knows how much foreign exchange reserves Thailand has now, nor whether it will be defeated today, so Zhong Shi's order There is still some uncertainty.

  This kind of uncertainty is a risk in the market. Although this risk is only a few days of visible interest, there is also a potential exchange rate risk, although it is unlikely.

"Should I think about it again?" Everyone looked at Andrew and Ma Jiarui. They knew very well that Zhong Shi hardly listened to most people's opinions. Usually, only Andrew had a few words with him, but recently Ma Jiarui obviously got Zhong Shi's favor, so they also count Ma Jiarui as a person who can speak.

  When Andrew saw the eyes of everyone, his face changed, and then he turned his head away, pretending that he didn't see anything, with a posture that had nothing to do with him, obviously he didn't intend to express his opinion.

   Ma Jiarui had no choice but to bite the bullet and persuade Zhong Shi.

   "No need to persuade, I have already made a decision, you just wait and see!" Zhong Shi ignored the eyes of the researchers, nodded to Ma Jiarui, and said slowly. Although he was facing Ma Jiarui, almost everyone knew that this was for everyone.

"When the Thai baht announces the abandonment of the fixed exchange rate system, I will explain the reason to everyone. Now, you just have to obey the order firmly and start!" Seeing that there was still no response from the crowd, Zhong Shi shouted decisively, without any bargaining room for.

  Seeing that Zhong Shi’s attitude was so firm, everyone could only suppress their dissatisfaction. They all returned to their positions and began to sell Thai baht at the lowest price. At the same time, they began to suppress the rebounding momentum of the Thai baht contract in the foreign exchange market.

Seeing them starting to work, although he knew they were sullen, Zhong Shi didn't care at all, he glanced around slightly, and saw Liao Xiaohua sitting on the seat, his head bobbing up and down like a chicken pecking at rice, he couldn't help but feel moved , quietly walked in front of him, ready to tease him.

   Recently Liao Xiaohua is very tired. Apart from being busy with the board of directors of Huade Real Estate, he also has to work at Tianyu Fund. In addition, Liao Chengde also asked him to help from time to time. He was ready to persuade Liao Chengde to let him hand over the trading company to a professional manager. After all, Hong Kong was about to return to China.

   Just when Zhong Shi was about to draw a turtle on Liao Xiaohua's face with a signature pen, Andrew suddenly appeared next to him, and said with an ugly face: "There is something wrong with uncle and aunt, and I need you to rush there as soon as possible."

  Hearing that Zhong Jianjun and Liu Lan were in trouble, Zhong Shi was shocked, his hands trembled, and accidentally pierced half of Liao Xiaohua's face with a signature pen, and he woke up Liao Xiaohua when he only had time to draw half a turtle.

   Thanks to the book friends waiting for the wind at the mooring and wangxueliang for voting for monthly support! Thanks for the reward of Demon Dragon Warrior Ghost!

  (end of this chapter)