Chapter Ninety-Five: Bean-Bean Hedging
Wang Huiling said suspiciously: "I know that you are a little embarrassed to earn your senior brother's money, and I see that other girls are pitiful, and I want to leak a little from the cracks of my fingers to give her, and the 100,000 yuan from the usury is enough, so it should be a good deed." But what are you doing with 1.5 million yuan for people like Li Heng? If it weren't for Teacher Su and them coming back to say, I wouldn't have known that you handled it like this. ”
"What did you think I was going to do?"
"I thought you would choose to go to court, what should you do, inexplicably pestering you for money, are you bullying us for not being able to pay the lawyer's fees or bullying us for not being able to find a good lawyer?"
Chang Tianhao smiled: "Do you really think so?"
"Really, is there a problem?"
"Yes, it's been a lot of progress, I thought you would persuade me to find someone to do something. ”
"I've also thought about finding someone, but it's not easy to find someone for such a big case, right? ”
"It's good, in the end, the consideration level of becoming a general manager is different, the legal thinking has been strengthened a lot, the progress is great, the board of directors is very satisfied with your performance, and I want to send you a little red flower!"
Wang Huiling was a little unconfident by his ridicule, and said coquettishly: "If people say something wrong, you will criticize it...... Don't tease me like that, I'm panicked when you say that, do you know?"
"No, I mean the truth. Chang Tianhao groaned, "I originally wanted to come back and talk to you in detail, but since you asked, I will talk about my thoughts." ”
"You say, I'll listen. ”
"First of all, what you see is that 1.6 million has to be paid, and what I see is that 6 million has to come in first, and this fund is very helpful to dock the operation, and the popular saying is that money makes money, and I can use this 6 million to create a far better income than 1.6 million, so I will not actually lose;
Secondly, Li Heng is the head snake in Qiantang, the local investment circle is very familiar, the network is very strong, and the investment will be operated on a large scale after the year, which is a good breakthrough - today's face and posture are not so much for Li Heng to see, but for the local Qiantang to see, let them see my responsibility and ability, the 1.6 million miles also include advertising costs.
I have emphasized that it is very important to have confidence in investment, and word of mouth is also very important, and there is no foreign favor above the law, and you will go to court at every turn, and you are a customer, do you panic? Of course, justice is a remedy, but it can only be used as a last resort; after all, China and the United States have different national conditions, and they cannot be a lawsuit at the beginning.
Last but not least, I don't like to see him doing this in the new century, and I have to get rid of him, I am far away in Shanghai, but Li Heng is in Qiantang, and this is the basis of our cooperation. So he later changed his mind and asked for an extra 300,000 yuan, obviously asking me for a benefit fee. As for Mr. Niu, the usury, of course, is also a local snake, you can use the next three indiscriminate methods to toss and toss that bullshit Director Xue, and I'll just call him when I go back...... I can't do everything myself, right? There are some things that I'm afraid of getting my hands dirty. ”
"300,000? Isn't it 500,000?"
"There are still 200,000 houses for Xiaoxue. ”
"You're quite benevolent, and this wave of operation is very good. ”
To be honest, I can pretend I don't know, but the inner entanglement will not be resolved for a while. ”
Wang Huiling covered her mouth and laughed: "The Dao heart is unstable. ”
Little Bourgeois often laughed at himself: "You see, I haven't cultivated to my home yet, and my heart is still too soft, although I think it's much harder than before, I used to meet people like Director Xue, I just forget it, this time I have to make him look good." ”
"I think it's very good, you have told me that you must have benevolence and righteousness in doing big business - you have to pretend to be it! Liu Bei is hypocritical enough, isn't it true that many people will obey him?" Wang Huiling muttered, "As for people like Director Xue, they naturally have to return the color." ”
"Actually, I worship Cao Cao, but it's a pity that I would rather teach me to bear the world, and Hugh told the world to bear me and I can't learn it......"
"How old are you? 20 years old to learn such an old and cunning man, how can we mix?" Wang Huiling asked, "But this Li Heng is a fool, since 5 million can get back 1.5 million profits, then why not just borrow 20 million to get back 6 million." ”
"First, I won't agree, second, the 20 million extra loan is not a small risk for him, and third, he is not completely sure, just like we operate small accounts and large accounts are different. Chang Tianhao smiled, "This is the best, just the next step can attract to participate in the company's projects, with an annualized fixed priority income of 12%." ”
"What are you going to do?"
"How much stock has been absorbed?"
"It's almost 11 million. ”
"Stocks continue to ...... The next step is to launch futures. Has the mung bean market been paying attention lately?"
"Mung beans?" Wang Huiling didn't look at the word "mung beans" when she heard the word, "I didn't see it! I deleted it from the self-selected varieties! I didn't look at any of the varieties of Zhengshang!"
"You said that if you operate the Zheng Shang Institute again, you will write the word king upside down......" Chang Tianhao teased her, "Now I plan to let you write it upside down, why don't you do it?"
"You're teasing me again, you won't really toss mung beans, right?"
"No kidding with you. Chang Tianhao prompted, "Hurry up and turn on the computer to see." ”
Wang Huiling couldn't help but sigh "Huh" after reading it, things were indeed unexpected: she thought that after the 118 strong draw, the mung bean variety should be smelly and unattended, but the reality is completely opposite to what was expected.
Since January 19, the trading volume and open interest of mung beans have increased steadily, and the open interest of GN007 has reached more than 37,000 contracts by January 28, and by February 4, the position of the July contract has exceeded 50,000, and other contracts have also shown signs of rising open interest. The total positions of contracts in May, September and November add up to more than 100,000 contracts.
She was surprised: "Strange thing, how can this be? Don't these people have brains? Or are they all amnesia, still playing like this?"
"Linda, you have a big misunderstanding of human nature, it's human nature to gamble...... The memory of the fish is only 7 seconds, how good can the memory of shareholders or prospectives be?" Chang Tianhao smiled, "What are you competing with the casino......? Just like some fields, the spring breeze blows again as soon as the police sweep it, and there are still people who go to play? They think it's safe to sweep over. ”
Wang Huiling "giggled", this reverse thinking is used well.
"How does it work?"
"Long!" Chang Tianhao said, "Since the current position is not too large, so it can't be as fast as last time, the method must be safe, and stocks, 7, 9, 11 three contracts in batches, the price is placed at the 2450 line, tomorrow to start dipping it." ”
Wang Huiling browsed the news and found that the spot price was basically stable at 2700-2800, and the future price was lower than the current price, which was an opportunity to go long.
At this time, she suddenly understood the exact meaning of Chang Tianhao's statement that the 6 million funds were valuable: now the mung bean margin is 10%, and the leverage ratio is directly half lower than before, so she can only do things with more money.
However, the other party's second sentence caught her off guard: "This operation also needs to set up a weak hedge and short the soybean contract of the big commercial exchange." ”
"Empty soybeans?" she was stunned, "soybeans have been falling since the year before, they have fallen by a third, and will they fall again?"
"I don't know if it will fall again, but I want to tell you about the spread. Suppose that the same acre of land can be planted with both soybeans and mung beans, how should you choose if you are a farmer?"
"Whoever harvests and grows high!" Wang Huiling thought for a while and added, "It's not about the yield per mu, it's about the total income." ”
"The yield of soybeans per mu is about 700 catties, which is usually half higher than the yield per mu of mung beans, that is, the theoretical equilibrium price between green and yellow beans should be 3:2. I studied all the spreads since the futures records in China and found that although the value spanned 200-1800 yuan, the equilibrium line was 1000 yuan/ton......"
Wang Huiling instantly realized: from the perspective of agricultural prices, it is natural for mung beans to be higher than soybean prices, and it is normal to be about 1,000 yuan higher, but now mung beans are only 200 more than soybeans in futures prices, which is obviously in a state of distortion. In general, distortions must be corrected.
Since the price difference between the two should theoretically move towards 1,000 yuan, then a single direction is about to come out: more mung beans and empty soybeans.
or mung beans rose sharply, soybeans remained unchanged, and the price spread returned reasonably;
or soybeans plummeted, mung beans remained unchanged, and the price spread returned reasonably;
Or the two move together to achieve a reasonable return.
Whether it is morning or night, this balance will be slowly realized - Chang Tianhao is betting on the realization of this process when he makes a single layout!
This is the first time he has established a bilateral hedging order on futures, in the past he did unilateral, now the amount of funds is large, and the unilateral impact on the market is greater, and the mung bean position is not as crazy as before, the impact must be controlled, so as not to have an accident. He hadn't even thought about doing such a thing, why did he jump out and be beaten up when he could follow the trend to eat and develop obscenely?
He is here to seek wealth, not to be angry! Not to mention to slap a swollen face and become fat, isn't the lesson of Han Jun and Feng Yimou beaten deep enough?
Making a fortune in a muffled voice is the king!
"Theoretically, complete hedging should be roughly balanced on both sides, but soybean trading activity is not as active as mung beans, so it is appropriately reduced to form incomplete weak hedging...... The overall risk degree is appropriately improved, which is convenient for effectively improving the utilization rate of funds. Chang Tianhao advised, "In Tongtian Building, I mortgaged 5 million real estate to Li Heng, and 10 million and vehicles to go to the bank to negotiate the credit, and if necessary, you can directly use it to add." ”
The latter immediately nodded in agreement.
As for why the remaining 10 million is not 25 million, the main reason is that Tongtian Technology and the developer have three installment agreements, and only the first installment is paid, which naturally leaves room for mortgage to facilitate the performance of the contract.
Chang Tianhao finally explained: "I have a bunch of things here, it will probably take about the 10th to go back to Shanghai, considering the company's car needs, let Lao Zhou return to the company first, anyway, I will drive it myself, and you will take care of the company's management these days." ”
Wang Huiling smiled: "In order to reflect the company's humanized care, non-local employees will have a holiday after the 10th, and you are also considered to be out of town, do you want to come back after the New Year?"
"I also want to take a vacation, but so many things are waiting for me, the teacher's knight draft to read, the plot plan of "The Legend of the Water Margin" to be reviewed, and the Q version of the Journey to the West planning to be completed, it's really too busy......"
"If you can't finish it, take your time...... Wang Huiling said coquettishly, "I'll accompany you." ”
The call lasted more than an hour, and just a few minutes after hanging up, Lu Xiaomin's phone came in......
ps: The next chapter is definitely 404, and it's a safe house directly, please tell each other for easy browsing......
。 m.