With the final highlight moment, after the Hang Seng Index reached 17,000 points a day, Gu Kun was able to ensure that the money invested by international short speculators in the Xiangjiang financial market was completely wiped out.

This point is absolutely broken through the opponent's leveraged liquidation line.

Kong Shangzhong, as a traitor, ended his life of crime, and he was innocent, so there is nothing to say - joining forces with international forces to short, strictly speaking, is not a traitor, it may just be a matter of confidence. admitting gambling and losing and going bankrupt can be regarded as paying off the debt for his judgment error.

The reason why he is said to be a traitor is because in order to suppress Gu Kun, he used all kinds of cross-border methods, especially cooperating with the Brittany invaders and sponsoring the invasion and plundering of the Brittany Mitchell Hatcher. And who made this guy have Breton nationality in the first place.

Soros's personal situation has not yet been reported, and Gu Kun only knows that the part of the money he threw in has evaporated. However, the psychological quality of this old immortal may be a little better than Kong Shangzhong's, and it may also have left a little coffin book, and he may not necessarily find a short-term vision, so if he wants his life, it is estimated that he will have to figure it out slowly.

After confirming that the other party was bankrupt, Gu Kun's attention was quickly pulled back.

He didn't even have enough time to inquire about the other party's personal safety, and he quickly began to feel sorry for his own expenses in the final sprint.

"Trough, those small scatters of Hong Kong stocks are really despicable, and Lao Tzu finally got so much money into the high position. ”

Looking at the bill sent by Liang Jinsong, Gu Kun could be said to be in pain and happy.

At the last moment, the small scattered in the Hong Kong stock market withdrew as much as $10 billion or 20 billion! These agile livestock cashed out at a high level and fled for their lives!

Therefore, in the trading week from June 29th to July 3rd, Gu Kun's total capital entered the market after leverage reached an astonishing 20 billion US dollars!

The principal amount of US$700 million was borrowed from CCB as a convertible bond. There is also 13 billion, which is raised by an additional double leverage in the stock market.

This money can be regarded as a high-level receiver, and the average cost of opening a position is as high as 16,300 points.

You must know that in the history of another time and space, when Soros was repulsed, the Hang Seng Index reached the threshold of more than 12,000 and close to 13,000. After Soros left, because of the inertia of the market and market confidence, it rose one after another, and it reached the highest level of 14,000 points.

Gu Kun now wants to completely knock out Soros's capital, but he has spent extra effort to pull the Hong Kong stock market to an additional 3,000 points than the highest level in history in 98 years, so it is very empty.

If you want to completely untie the trap, it is impossible to rely on this wave of market. Unless it is combined with next year's Internet frenzy, Yingke Digital and Heung Kong Telecom and other local network concept stocks, digital communication concept stocks soaring.

Of course, the "complete unwrapping" mentioned here is only for the 7 billion principal and 13 billion leverage of the last high-level takeover.

Most of the funds that Gu Kun opened a position before, because the average cost of opening a position is very low, so the profit must be explosive.

Even if Gu Kun took the opportunity to cut off all the shares he held within half a year, he would still make a lot of money from the overall point of view, but in the end, the 20 billion high position pulled down the expected profits in front.

In addition, when Soros and other shorts are forced to liquidate, those short futures contracts will also be forced to "buy the corresponding number of shares from the market at the current price to repay the previous securities borrowing".

Therefore, at the beginning of July, Gu Kun used Soros's forced liquidation funds to throw off part of the pot.

(The essence of the "short interest contract" is to borrow so many shares half a year ago, and then sell them one after another in this half year, depressing the stock price, betting that the stock index will fall, and saying that it will return so many shares to the original borrower after half a year.) But because the stock has risen back, there is a risk of liquidation.

After evaluation, the securities borrowing and lending agency believed that all the funds of Soros and others were almost unable to buy back the stocks they had borrowed at the beginning, so they forced the money in the margin account to buy shares at the current price and repay the shares originally lent. So the moment Soros went bankrupt, the essence was that Soros's money was forcibly used to take over a part of Gu Kun's plate)

It's just that this account is more complicated.

He felt that it was better to calm down completely and do the math first.

……

After combing through all the data brought by Liang Jinsong, Gu Kun temporarily summed up his profit and loss:

At the beginning of the year, he started with a principal of $5 billion, plus the money he later drew from other businesses from selling aircraft carriers and sunken ships, and the total principal of this part was $5.5 billion.

And that money is increased to about 10 times through leverage, that is, 55 billion US dollars (5.5 billion principal, 50 billion leverage)

Among them, there are about 22 billion funds, which were successfully established at a relatively low average level, when the Hang Seng Index was only 7,000 points, and the national team had not yet considered protecting the disk, which was the stage when Gu Kun and the other bulls fought separately, and the cost was very low.

At the end of March, when the national team protection began to show signs of protection, until the end of April, when the national team protection was completed and the funds were precipitated and no longer entered the field, Gu Kun made up another $26 billion at this stage.

This period should have been the period when the stock index rose the most, the trading volume was the fiercest, and the capital consumption was the fastest. Soros and others on the side of the bears, the most significant part of the ammunition was also consumed at this stage.

The national team has been pulling from more than 7,000 points to 12,000 points, and Gu Kun's cost of building a position at this stage is more than 9,000 points on average.

The third stage of capital consumption is from the withdrawal of the national team to mid-June, that is, after Gu Kun basically ran out of empty ammunition, he changed his methods to create good news for bulls and raise money by himself to continue to rise. However, the trading volume at this stage is actually the smallest, from 12,000 to 15,050, and the total trading volume of Gu Kun is only 7 billion US dollars, and the average opening point is 13,060.

The final stage is the general attack after getting the oil financing, that is, the $20 billion in receivership funds mentioned above. The average cost of opening a position for these dollars is an epic fifteen-thousand-nine.

At this moment, on Monday, July 6, the real-time Hang Seng Index after the opening of Hong Kong stocks is 16,005. In other words, in the end, Gu Kun only earned a meagre 600 points of this $20 billion in funds.

You must know that this is still a state of unrealized, if his funds are further shipped wildly, the Hang Seng Index of 16,005 will collapse in minutes, this thing is virtual, and it is just book wealth before it is settled.

"The $22 billion position of 7,000 points, if you pinch it to 16,500 now, the market value is $51.8 billion (the approximate abbreviated algorithm is to directly divide the original gold by 7,000 times 16,005)"

"$9,300 billion is now worth $46.2 billion, $13,600 is $7 billion and is worth $8.5 billion, and $20 billion is $20.8 billion. The sum of the four stages shows that the total book value is 127.3 billion.

My total principal investment is $13 billion, and the leveraged financing I owe is $630, a total of 76 billion dollars, and the market value of stocks is 127.3 billion, an increase of 68%. At present, the money that has been run away is mainly the more than 200,000 enforced futures contracts of international shorts......"

The algorithm of futures contracts is more complex, and laymen do not necessarily need to understand it.

Roughly speaking, the futures contract of the Hong Kong Stock Exchange at that time should have been "each futures contract needs 1 million Hong Kong dollars to buy back when the Hang Seng Index is 10,000 points." ”

When Soros and others were finally forced to liquidate, the Hang Seng Index was 16,005, so the cost of each futures contract rose to 1.65 million Hong Kong dollars.

230,000 contracts were forcibly liquidated, equivalent to 380 billion Hong Kong dollars, according to the exchange rate of Hong Kong dollars that rose to about 7 yuan 5 at that time, that is, 50.7 billion US dollars.

It's a pity that not all of the 50.7 billion are taken over Gu Kun's order, even if Gu Kun has high liquidity, high priority, and is willing to ship at a lower price, in the end, only 180,000 of the 230,000 are received by Gu Kun (other main institutions are also shipping. Xiaosan can pinch until July 6th, basically will not panic and run, if you want to run, you will run early on June 30th)

After calculation, Gu Kun relied on Soros and other bears to successfully cash out the amount of $39.7 billion.

In other words, after July 6, the market value of the Hong Kong stock market that Gu Kun still holds will be reduced from US$127.3 billion to US$39.7 billion, leaving 87.6 billion.

Gu Kun's remaining total cost will also be reduced by 39.7 billion by 76 billion.

In addition, it is necessary to subtract the financial costs, interest, and handling fees of leveraged financing for half a year, which add up to a lot, and the half-year financing cost of 50 billion yuan is more than 5 billion.

Therefore, the total remaining cost of the market is still as high as 41 billion US dollars.

Among them, 13 billion is Gu Kun's capital (including 7 billion yuan of convertible bond financing for the ownership of oilfields), and 28 billion is the leverage he still owes to margin financing institutions.

In the future, he will continue to sell various stocks with a market value of $87.6 billion to recover the 13 billion capital and 28 billion leveraged arrears.

Because without the "must-take" injustice of Soros futures contracts, other receivers in the future will definitely not take it at such a high position.

Gu Kun didn't expect the index of 16,005 to hold all the time, nor did he expect that the current highest level looked like it was 87.6 billion at its best, and it could be completely realized.

Speaking of conscience, even if he finally withdraws when he falls back to an average of 13,000 points, Gu Kun can accept it. Even 12,000 is not non-negotiable.

In other words, he hopes that this 87.6 billion can fall to a value of 600~70 billion, and let him escape, he will be very happy.

Even such a conscientious requirement is not easy to achieve. The Hang Seng Index is so high, the total market value of the Hong Kong stock market has approached 5 trillion Hong Kong dollars, equivalent to 670 billion US dollars.

Gu Kun's 87.6 billion chips are already equivalent to 12~13% of the entire Hong Kong stock market. That is to say, for every 8 yuan of stocks in Hong Kong stocks, 1 yuan is bought by Gu Kun (more precisely, for every 24 yuan of Hong Kong stocks, 1 yuan is bought by Gu Kun with capital, and 2 yuan is bought by Gu Kun with leverage)

With such a big plate, who can take it?