Chapter 504 Avalanche

   "Damn, what the **** is going on here?"

  In the conference room of the Never Withering Fund, after Nick hung up the phone, he was furious, and the monstrous anger wished that the entire roof would be blown over. He never expected that things would turn around 180 degrees.

After reading the report in the New York Times, Nick didn't take it too seriously, but just in case, he still called Goodman's head of the commodity department, and whoever didn't want to hear a thunderbolt from the blue News: The two traders sent by Goodman Company have not come back yet. No, it's not that they haven't come back, but that they haven't heard from them for two whole days.

  This...how is this possible? In a panic, Nick hurriedly asked the other party to verify the name of the trader he sent, but what shocked him was that the name of the trader sent by the other party was completely different from the two he received, that is to say, the trader he received The two were not Goodman employees at all.

  God, I was completely played by someone once. Nick only felt a surge of anger bursting out of his stomach, traveling through his internal organs in an instant, and finally gathering at the throat, gushing out directly.

  Faced with Nick's almost crazy gaffe, the other senior executives of the Flower Fund looked at each other in blank dismay, and fell silent for a while, not knowing what happened. However, judging from Nick's furious performance, most of them could guess what went wrong, and it must be that there was a problem with the position sale of the asset portfolio.

After inexplicably getting angry for a long time, Nick finally calmed down. After looking at the silent partners, he said helplessly: "We have been tricked, and the person who made the deal with us is not Goodman at all. The employees of the company. My God, we actually believed them and leaked so many secrets, and now we are basically done for!"

Although there were bids from other institutions, there is no doubt that during the bidding process, the two "analysts" of "Goodman" bid the highest. Therefore, after weighing it, the senior management of the Evergreen Fund declined the proposals from other institutions. Quotation, but who of them would have thought that this kind of behavior would completely drive him to a dead end?

"what should I do now?"

After learning the ins and outs of the whole incident, everyone was shocked. They finally realized that a huge conspiracy against them was unfolding, and it was so cleverly arranged that they were almost unaware before, and when they suddenly realized It's too late now.

  Bond Hunter was the most terrified. He knew very well that after this incident, he might never gain a foothold in the financial industry again. But he didn't care, the money he earned in the past few years was enough for the rest of his life. What worries him the most at present is that if these positions cannot be disposed of in a timely manner, not only the behemoth of Huahua will be dragged down, but also some brokers of NYMEX may be implicated, and even NYMEX's natural gas market gameplay will not be successful. Be changed by it.

Even if the situation does not develop to that point, basically he can't get away with an investigation of "manipulating the market". Although this kind of judicial investigation generally does not result in any charges, once he is found guilty by the court, what he will face at that time is It's time for prison.

   Obviously Bond Hunter was so panicked at this time that his tone of voice began to tremble involuntarily.

"Is there any other way for us?" Nick gave Hunter a blank look, shook his head involuntarily, and replied angrily, "Of course it is to close the position, as much as we can. At this time, how much can we recover?" That’s how much, do you still have more time and methods left for us? God, what are you still doing standing up, hurry up and tell the traders to close the positions as much as possible after the market opens on Monday.”

Everyone is concerned, but at this time, there is indeed only one way, because the news has leaked out, and traders from all over Wall Street will flock to the natural gas market when the market opens on Monday, attacking their positions frantically, And if they don't close their positions in time, their losses will only increase.

  At the moment, everyone didn't say much, and left the meeting room silently to arrange the upcoming impact on Monday.

  …

  The opening of the market on Monday, to the surprise of all the top executives of Bumeihua, the September contract did not have much twists and turns. Although the news of the huge loss in the natural gas position of the Evergreen Fund has spread throughout the market, the eyes of the traders are discerning, and they did not concentrate their firepower on their positions in the near month, but all surrounded the far month. shoulder arbitrage positions.

  In recent months, because of the sudden appearance of this news, the bulls in September couldn't sit still. After offering a price of 4.92, the bulls in September began to concentrate their efforts. Although the momentum of selling orders in the market is turbulent, the power of the bulls should not be underestimated. After a short-term decline, they began to counterattack quickly and directly pulled out a rising Yang line. At the most time, the price of natural gas was even raised to $5.26. This also made analysts in many markets fall through their glasses.

On the other side, the situation is far less optimistic. Basically, the Evergreen Fund is a role at the mercy of others. When there is no way to raise more funds, for every penny fluctuation in the market, they They don't have enough strength to stop them, and can only watch the losses of their positions expand step by step.

The most terrible thing is that after knowing that there is a huge loss in the position of the non-withered flower fund, and that no transaction agreement has been reached, investors, brokers, and lending banks have all asked them to return the loan or call for a margin, which is dealt with by the non-withered flower. Positions create even bigger troubles.

   "It doesn't matter, throw it away!"

   After frantically hanging up another phone call, Nick had time to wipe the sweat off his forehead. Facing Bond Hunter's request for instructions, he sighed and said helplessly.

This is already the thirteenth call he received this morning. The caller covered almost all investment partners. Although Nick tried hard to explain, basically everyone had only one request, to return the funds that belonged to them as soon as possible. They don't listen at all.

The pressure on Nick was unprecedentedly strong. Although he had been mentally prepared in advance, he found that he couldn't calm down at all when the incident happened. After Bond Hunter reported the situation of closing positions several times, he His complexion had become more and more ugly, and finally after another phone call, he had to make this decision quickly.

   "What?" Bond Hunter was taken aback for a moment, and then his face immediately collapsed, "Are you really going to get there?"

  Bond Hunter is very clear that, as a shoulder hedging position, the loss can be controlled within a certain range. Because of the natural nature, the price of natural gas contracts in April will not be higher than the price in March, so even if the price difference between the two is completely smoothed out, they will lose no more than three billion US dollars in funds at most.

  The strategy formulated before is that as long as they liquidate some positions and withdraw some funds, this part of the position may be barely maintained, because not only them, but other investment portfolios are also closing positions. This time, Wall Street is targeting them, not just natural gas positions.

  But what Nick is asking now is to liquidate both profitable and loss-making contracts. Once a profitable contract is closed, it will inevitably cause violent fluctuations in the market, turning profit into loss. And those who lose money will naturally continue to lose money. The consequence of doing so is that the amount of losses will inevitably expand to more than 3 billion US dollars, and the entire Everlasting Flower Fund will be implicated by this.

   "Are you sure you want to do this?" Bond Hunter was silent for a while with a dark face, and finally asked without giving up.

"We have no more choice!" Nick opened his mouth, wanting to defend his decision, but in the end he couldn't say anything powerful, "except that a miracle can really happen!" He added with difficulty .

When Bond Hunter gave the order of Nick to the traders, they were very clear about the current situation. Although no one spoke, the collective silence at this moment is also a language, a sign before the end. .

Everyone knows what serious consequences will happen if they no longer use shoulder arbitrage portfolio positions, but sell them on a monthly basis, but they also know very well that those high-level managers understand the consequences of such selling. If there is a way, they won't do it. Since this is done, then the fate can only be handed over to the market!

  …

   "Mr. Zhong, it's here, it's here!"

When Zhong Shi was leaning on the window alone, smoking a cigarette and looking at the beautiful scenery of the Hudson River, the traders in Hu Ping's team didn't even leave him this rare leisure time. After the complete collapse of the Everlasting Flower Fund, Jiang Shan yelled.

Zhong Shi quickly stood up straight, took two quick puffs and threw away the cigarette butt. When he walked to the computer, he found that in the sales column in March, there was a huge sale order of up to 245 lots. The opposite direction of the lot does not appear.

"This must be their liquidation order!" Jiang Shan looked very excited and explained impatiently, "This price is 0.02 lower than the market price, and the 300 lots that were listed just now, in addition to the transaction, there are also There are so many left. It seems that the short sellers in the market do not intend to let them go like this at all. Now that the market price has fallen to the price they listed, it seems that they will not continue to lower the price, and it will be difficult to completely level it out."

"Also, look at the April contract." Jiang Shan quickly switched the interface to April, only to see that on the right side of the transaction column, the message of continuous transactions pops up quickly, and dozens of transactions can pop up in almost a second. Come on. Zhong Shi glanced at it roughly, and among the ten items, at least six were transaction reminders of double-even, that is, someone was closing positions quickly, and although the number of lots was small, the frequency was quite high.

"Due to the rapid liquidation of short positions in April, the current price has risen by at least 0.5 points, and the price difference between the two months has narrowed to $0.8, which means that the Evergreen Fund has lost at least $2 billion. God, this is still A morning, no, not a morning yet."

  Jiang Shan looked at the numbers on the screen, calculated in his heart, and finally came up with a number that made him feel unbelievable.

   "I'm afraid it's more than that!"

  Zhong Shi smiled slightly, pointed to the position trading situation in March, and said, "See, the pending order just now has been withdrawn, and the price is falling again. This time, they may really collapse."

   Before the words were finished, I heard other traders shouting: "The bulls are backing down, backing down, my God!"

After thinking about it, the two of them understood what it meant. Jiang Shan quickly switched the interface to the spot month contract. As a result, the two were surprised to find that the spot month natural gas position price, which was still firmly above 5.20 just now, appeared a The rapid downward trend, almost in a moment, pulled a shiny red straight line on the screen, and fell below the $5 mark.

  The bulls who wanted to come to the current month also discovered the fact that the Evergreen Fund had collapsed, so they recklessly closed their long positions.

   Thank you book friends for supporting this book and the author for a long time. The author will continue to work hard and strive not to let everyone down

  

  

  (end of this chapter)