Chapter 522 Departure (3)

In the minds of Charles Winka and Kenneth Griffin, the other party's bottom line should be about a price difference of 1.5 US dollars. Although this price still has an element of vindictiveness against their own side, it is still relatively low compared to their opening price. an acceptable result. Taking into account the uncertain factors, Griffin deliberately backed down by 0.1 US dollars. They believed that the other party should be satisfied with this price.

   It’s just that after this price appeared in the market, it caused a burst of laughter from Zhongshi’s team. There was no other reason, probably because Zhongshi had suppressed his own restless forces, and now basically the base camp fund has lost bargaining chips. And they are also delusional to close the position at a higher price, which is a bit whimsical.

"What are these guys thinking in their heads? Do they really think they are the protagonists of the market?" Jiang Shan shook his head helplessly, with a trace of sneer on his face, "At this time, they still want to use this kind of price difference. It’s so naive to close the position.”

   As soon as he finished speaking, there were fluctuations in the market. On 0703 and 0704, nearly a hundred new long and short positions were opened one after another. The range is almost the same as that of the base camp fund just now. With the cooperation of the market, this force quickly opened the base camp fund The price difference smoothed out and returned to a level near $1.

   "Look, this is our friend expressing their displeasure!"

  Looking at everything that happened in the market, Zhong Shi only thought for a while before he understood. Although his side's eagerness to close the position has been subdued by him, they still have the right to say no. Obviously, the act of repelling the quotation of the Base Camp Fund just now is their silent protest, expressing their dissatisfaction with their quotation.

  Although Zhong Shi does not need to care about their opinions, it does not mean that they have no right to object, although this right is dispensable in Zhong Shi's view. But now that Zhong Shi has already considered how to reach a liquidation agreement with his opponent, so it is inevitable to take proper care of their ideas under the condition that they will not disrupt the overall situation.

   "Don't pay attention to them, wait for them to quote again!" Zhong Shi waved his big hand, telling the traders to stand still and wait for the other party to quote again.

  …

   "What? They're not satisfied?"

Griffin was dumbfounded when he saw that his quotation was swallowed up. He thought he was giving the other party a profit. Who would have thought that the other party would ignore it first, and then directly open a new position to take all his quotations. He didn't keep any sympathy for himself, and it seemed that he was very dissatisfied with his offer.

Griffin was naturally very surprised, and then a burst of anger rose in his chest. These guys swallowed nearly 7 billion U.S. dollars of funds from the Flower Fund, and even now they are not willing to "give out" a mere 1.3 billion U.S. dollars. "Give it to him, this is too greedy. However, after experiencing the initial irritation, he calmed down again, because this market is like this, greed is always the best, as long as he thinks a little bit, he will not be satisfied with the price.

Although it is only a concession of 0.1 US dollars, it is a huge amount when the huge position is accumulated. After gritting his teeth, Griffin said with a veiny face: "1.35 US dollars, this is our bottom line. Low. These guys are getting greedy, and we can't budge any more."

  Charles Winka nodded expressionlessly. At this time, he also felt the same way, feeling that the other party was a bit aggressive. But what they didn't expect was that based on their costs and benefits, they earned a 100% rate of return for at least one month, which is extremely amazing no matter where they are placed. If the other party is greedy, then they themselves are greedy to the point of no limit.

  Obviously, the signal of the price difference of 1.35 US dollars was put on the market, which did not make any waves at all.

  After the bell opened the next day, the two sides continued to test. After a day of calm, both sides had more thoughts on the bottom line price. Soon, the base camp again offered a new closing price, $1.30.

  A $0.05 concession means a $100 million concession. And when it reaches US$1.30, the profit that Base Camp Fund can earn on these positions is about US$1 billion, which is close to US$300 million less than the previous day, but Griffin is naturally not worried about this, because these Basically, they are profits that will be enough to pocket in the future for a period of time. The difference is only a small amount, which is not worth mentioning compared with the overall figure. And in crude oil futures, they also made a lot of money.

Now, the other side wants to close the position and leave the market, and one side wants to be safe, reducing the unnecessary risks caused by market uncertainty, so the possibility of the two parties reaching an agreement is very high, and Griffin is also full of enthusiasm for this. confidence.

  Griffin has his own considerations about giving back another $0.05. Since the other party does not accept his offer, it doesn't matter if he backs down a bit. Although he was furious yesterday, after thinking about it carefully, he realized that even earning 500 million US dollars is enough to satisfy him, because this is almost an excellent opportunity that fell from the sky. Picking up money makes no difference.

  But Zhong Shi doesn’t think so, the price difference of $1.20 is his psychological expectation. Just when he was about to ignore the other party's offer again, a phone call came unexpectedly.

   "Mr. Zhong, hello, I'm John Paulson of the Paulson Institute, I'm sorry to disturb you, but I have some good news for you!"

The call was from the future "King of Making Money" John Paulson. After Zhong Shi invested in his fund, the "King of Making Money" paid close attention to the information of this super client. After Shi majesticly appeared in the American media, he was even more convinced that the other party was his benefactor. However, before he had made a performance, he absolutely did not dare to call this big client, but now that he dared to call, it naturally meant that he had good news.

"Really? Today is a good day. It's really exciting." Zhong Shi's heart moved, and he walked quickly to no one's place. After the surroundings were quiet, he whispered, "It's about the mortgage securities market." Is it? If there is really good news, please tell me more in detail, I am very interested in these."

"Yes, sir!" Paulson said with a rare humor, and then he said, "Now the price of CDO market has begun to decline slowly, while in their related markets, the price of CDS has begun to rise, because this month's Mortgage delinquency rates are up a little bit from last month, so the prices of these products have fluctuated. And our portfolio has turned a profit, which is not a huge profit, but it’s a good start, isn’t it?”

"Wow, this is really good news!" Zhong Shi was a little disappointed when he heard that, but he didn't want to discourage the other party's enthusiasm, so he said lightly at the moment, "This is indeed good news. But according to your estimation, if there is a housing loan How much time will there be for large-scale defaults, which will affect real estate lending companies, insurance companies and even intermediaries?"

Perhaps because he could hear the flatness in Zhong Shi's tone, Paulson scolded himself for being reckless. After trying to calm down, he replied carefully: "Sir, this is not easy to evaluate. If a similar situation really happens, then It’s a catastrophe for financial markets around the world, but if the current environment does not improve in any way, I think in half a year to a year, maybe all of this is possible.”

"That's it, then let's keep in touch!" Zhong Shi scratched his head, feeling a little funny secretly. In the face of the feast of capital redistribution in the future, he was still a little bit impatient after all, and he still needed to ask the "king of making money" Advice. After hanging up the phone, he thought about it and decided that it would be better to realize all his assets as soon as possible.

   "$1.30, we accept!" He shouted at Jiangshan from a long distance away.

  …

  Although the Sagittarius Energy Fund still has different opinions, an agreement has been reached between the biggest shorts and bulls in the market, and John Arnold has no choice but to liquidate their positions at this price. After spending more than a month, the three parties finally either flattened this huge burden, or dumped it on those institutions that plan to do short-term operations in the coming year.

In this four-month-long siege of the Evergreen Fund, the real war only took place in September, and after being targeted by the entire market due to the exposure of losses, the Evergreen Fund quickly announced collapse. Then came the issue of dealing with funeral affairs, which took a lot of time, but were finally resolved perfectly.

  During the whole incident, Zhong Shi and Hu Ping's team became the biggest winners. Excluding the more than 500 million US dollars retreated to the base camp fund, they made a full 2.5 billion US dollars in this attack. The Sagittarius Energy Fund, one of the behind-the-scenes players, also earned close to US$1 billion, and the Base Camp Fund, which also took over the Evergreen Fund, also made a profit of close to US$1 billion. These three companies earned about 4.5 billion US dollars, accounting for more than 70% of the entire market liquidity in this event.

   After Hu Ping received a share of 300 million US dollars, he parted ways with Zhong Shi peacefully. He is going to set up his own hedge fund, and Zhongshi left the remaining 2 billion US dollars in the United States. This part of the funds will be invested in the future crash.

  (end of this chapter)