Singapore.

Jushi Capital Trading Department.

Liu Qiangduan sat in the chief trading seat.

Three days off, so he's in good spirits.

But.

His heart was pounding.

His eyes were full of excitement like flames.

In the morning, Zhao Jiangchuan gave Liu Qiang a phone call.

Just a few words.

Kill them all.

It was these few words that made Liu Qiang's soul tremble and boil.

As the top person in charge of the Singapore market, Liu Qiang knows very well who their current opponents are.

JPMorgan (4) Pass, Goldman Sachs, AllianceBernstein, Tiger Fund, Quantum Fund......

Which one is not the existence of the global financial market.

The quantum fund in charge of Soros is considered the weakest existence among these giants.

But even so, Soros was called the man who broke the Bank of England by the Financial Times.

Bank of England What's that?

That's the central bank of the United Kingdom.

It is equivalent to the sovereignty of the British government.

The defeat of the Bank of England is not much different from the defeat of the British government.

Therefore, for Soros, even if Liu Qiang doesn't want to admit it, he still silently looks up and is in awe in his heart.

He wasn't ashamed of it.

As a position trader who trades for a living, who wouldn't be in awe of that man who hasn't been defeated.

Even European governments feel chilled when they hear the name George Soros.

Be in awe of this undefeated man.

There's really no shame.

But now, this man who is like a myth in the financial market, his quantum fund will usher in the first defeat in his life.

Soldier to soldier to general.

Since Stanley Druckenmiller is the number one general of the Quantum Fund, let me hit you.

"Little four, within the first time of bidding, 100,000 buy orders will be quoted at a price of 24.12......"

"Little three, once the buy order in our hand is traded, we will immediately hedge and open 50,000 short orders......"

......

Bangkok, Bank of Thailand.

Governor Sonny is connecting with several offensive and defensive alliances that have been agreed upon before.

The Hong Kong Monetary Authority, the Monetary Authority of Singapore, and Bank Negara Malaysia.

"Thank you, on behalf of the King of Thailand and the Thai people, I would like to thank you all for your kindness, and I hope that this time Thailand can survive this crisis. ”

"Sonny, you don't have to be so polite, we're doing this to help ourselves. ”

"Yes, Sonny, if the baht can't withstand it, I think it's likely to spread the fire to other places, and the currency crisis in Europe is a lesson from the past. ”

"Sonny, we're ready, when the market opens, we'll buy all the sell-offs in the market. ”

"We're ready and we're going to do our best to take all the baht. ”

"You can do the things that push the price. ”

"Okay, if we work together, we can defeat these damn crocodiles. ”

“......”

During the New Year's holiday, Thai authorities carried out a series of administrative interventions against the Thai baht.

Everyone knows that the baht is going to change.

But even if it is expected, it is not something that anyone can afford when it comes to the real face.

Singapore Exchange.

The price of the US dollar against the Thai baht opened with a gap higher at 24.120.

This price is a full thousand points higher than last Friday's close.

Up to four percent of the gap.

A lot of people are confused.

Such a big increase in the Thai baht, with its leverage ratio of tens to hundreds of times, will mean crazy profits.

Some people have doubled or several times the assets of the account at the moment of opening, and some people have the positions on the account immediately closed at the moment of opening, or even liquidated the liabilities.

Tiger Fund Trading Department.

Robinson's brow tightened.

That Ruchuan's brow seemed to have a king character written on it.

In the last week, Robinson had a premonition that something was wrong.

But it was still too late.

With the large-scale positions held by Tiger Fund in the forward market, there is simply no way to close them out in the shortest possible time.

If it did, Tiger would bury itself alive.

Hundreds of millions of dollars of short contracts will be closed together, which will push the Thai baht to a sky-high price.

As a result, the size of Tiger Fund's position has only been reduced by less than one-third.

Time is too short.

It's so short that even Robinson can't make a choice.

No one could have imagined that the Thai authorities would use a series of combo nirvana in near-cheating methods.

Now, Tiger Fund is a victim of this combination.

"Rosa, what is our current loss. ”

"Altogether... A total of $600 million in losses. ”

$600 million.

Even if he is as strong as Robinson, he can't help but twitch when he hears this number.

That feeling is no less than being stabbed in the heart.

In the market, the price of the Thai baht continues to soar.

Domestic banks are prohibited from lending Thai baht to foreign capital, and the offshore lending rate is raised by 1,200 percent.

These two tricks are extremely vicious.

Everyone knows that the liquidity of the Thai baht in the market is now shrinking sharply.

No one would borrow Thai baht at an interest rate of up to 1,02 percent.

Transaction costs are a crucial point for money.

Even Soros's quantum fund has an annualized return of 25 percent.

However, the current Thai baht lending rate has been increased by 1,200 percent on the original basis.

With such a high interest rate, if you borrow money to sell short Thai baht, where else can you make money.

Robinson's face was full of bitterness.

The Bank of Thailand's pair of combos is both murder and attack.

In this case, those speculators who borrowed money to sell the baht will inevitably return the baht they borrowed as soon as possible.

And those shorts who originally wanted to borrow Thai baht will also discourage the intention of borrowing money again.

In the Thai baht market, a large number of short positions have emerged.

This is the best proof that the bears have been broken up.

It's hateful.

If the Tiger Fund has enough time to collect the baht, it may not be able to suppress the baht's counterattack now.

But that damn boulder capital suddenly got into such a play....

It's disgusting.

was actually put on a stand by this kind of newborn guy.

It's too late to say anything!

Is the boulder capital controlled by the Chinese really Huaguo?

Unlike other wealthy classes in Europe and the United States who despise China.

Robinson has been studying Chinese philosophy for many years, and has a deep admiration for the philosophy of China.

To his extent.

I already knew what financial markets really were.

It's like the Tai Chi of China.

Yin and yang are two sides, but they contain all kinds of changes.

It's like a war between soldiers.

24.012...

Sell flat 3,000 lots.

23.995...

Sold flat 2,000 lots.

The constant selling flats let Robinson know that the tide is over.

For the sake of today, the only way to do this is to abandon the car to protect the handsome.

"Linda, let the trading department stop the loss!"

"But..."

"Go ahead, do as I say. ”

"Yes!"

“......”

New York, Quantum Fund.

Stanley Druckenmiller's face was very ugly.

According to intelligence agencies, the monetary authorities in Singapore and Hong Kong have started to receive Thai baht in the market.

This is bad news.

Now, it is difficult for Quantum Funds to obtain low-cost baht from the market.

The same is true for other institutions.

When the Thai baht circulating in the market is swept away by a few companies, then this attack on the Thai baht can only be declared a failure.

Without enough baht to hit the price, defeat is only a matter of time.

Time...

It would be nice if you could give me another year.

No, not for a year.

Even if you can give me another six months or even three months.

Unwilling, aggrieved and remorseful, Druckenmiller clenched his fists tightly.

It would be nice to have a few more months to gradually open positions.

Damn the megalith capital.

This damn traitor, shit-stirring stick.

At the thought of Megastone Capital's malicious hedging, Druckenmiller felt aggrieved and deeply humiliated.

Quantum Fund, is a quantum hedge fund.

In the field of hedging, quantum funds are the originators.

But now, it has been overshadowed by an investment company in the field of hedging.

It's really damn it.

In one's absolute field, I was pitted with something that I was good at.

That kind of shame and pain is simply unacceptable than the loss on the books.

Druckenmiller wanted to scold his mother.

But in the end, I sighed helplessly.

"Hey..."

After all, the market is right.

The price of the Thai baht continues to soar upward.

23.968..., buy 3,000 lots, 23.968, sell 1 lot.

23.966, 2,000 lots flat, 23.966 1 lot.

Suddenly, Druckenmiller wanted to laugh.

This kind of market of buying large orders and selling small orders makes him feel like a fool.

A fool who is toyed with and applauded.

A loss does not mean that Druckenmiller's ability is poor.

These are two concepts.

It's like a securities analyst, who may be very correct in his analysis, but it doesn't mean that he can make money.

In his long-term capital management, Druckenmiller is known as the second person under Soros in the Quantum Fund.

How could he not see what the situation was like?

The combination of the Thai authorities is bound to kill, and no funds can take it.

The only thing that can be done is to avoid its edge for the time being, and wait for an opportunity later.

And it's this that Druckenmiller wants to laugh about.

With the strength of the quantum fund, it has to avoid the upward edge of the Thai baht at present.

However, there are still people who are selling short the baht.

There are still people who are flattening their long positions.

The one hand is bought flat, and the third hand is sold.

What a bunch of fools.

"Hehe..."

Druckenmiller let out an incomprehensible laugh.

There was an indescribable mockery in that laughter.

It seems to be laughing at those who sell it with three hands and two hands, and I think it is laughing at myself.

The current market is not the same as the market manipulated by the Quantum Fund before.

It's just that this time they're the ones being toyed with.

After a few minutes of distraction, Druckenmiller sighed again, it was time to make a choice.

He didn't hesitate any longer and picked up the phone.

"Robbie, close all the positions in the forward market and settle 70% of our Thai baht. ”

......

Even giants such as Tiger Fund and Quantum Fund cannot forcibly resist the impact of the market, and those small-scale positions are naturally unable to resist.

London, New York, Chicago.

There is a wail in the major foreign exchange forward markets.

"Oh God, I was blown up. ”

"Damn, damn Monolithic Capital, this hateful traitor. ”

"Damn Thailand, how dare you cheat blatantly. ”

"How do I explain to my clients..."

"It's okay, you can answer like this and tell you the unfortunate news, because our investment failed, so all your assets were lost, haha..."

"Damn Dave, you're going to be famous this time. ”

“...”

In the European and American markets, due to the high popularity of financial products, more than 80% of people will manage their finances through various financial channels.

However, unlike the Asia-Pacific region, which mainly focuses on individual transactions, the European and American markets will mostly entrust their own funds to funds.

For example, buying a product issued by a certain fund, or buying a wealth management product issued by a bank or insurance company.

Every year, you only need to pay a certain amount of management fees, and you don't have to worry about operating in the market.

Professional things are left to professional people to do.

This is the main reason why Wall Street is full of investment banks.

Sasha Mitchell is a well-known boxer in the United States.

Like most Americans, he chose to preserve and profit his income through financial management.

In Florida, Mitchell just finished a game.

"Bell bell bell..."

In the locker room, Mitchell's mobile phone rang.

The call was from Mitchell's fund manager, Paul Jones.

"Hi Paul, is there any good news for me?"

“...”

"Why don't you speak, Paul, can you hear me?"

"Sasha, I have some unfortunate news for you, because our investment is going in the wrong direction, so..."

The investment failed.

Mitchell had a bad feeling in his heart.

He said hurriedly.

"So what?"

"So, you lost your assets..."

"Knock knock..."

Mitchell's heart was like being punched in the ring.

After realizing what it was, he cursed angrily.

"Damn it, Jones, you bastard, tell me what the hell is going on, didn't you say you wouldn't be too risky for a hedge fund, how could it..."

"I'm really sorry, we don't want this either, I'm going to inform other customers now, you still have to mourn...."

“......”

.......

"Have you heard that the Quantum Fund suffered a big loss on the Thai baht, and it is said that it was overshadowed by an investment company called Jushi Capital. ”

"The one that bought Standard Chartered?"

"That's right, that's it. ”

"Isn't the quantum fund good at hedging risks, how can it still suffer losses?"

"Oh, hell knows, but I've heard that the Quantum Fund is a one-sided attack on the baht's position, and it doesn't hedge its risk at all. ”

"Is this still a hedge fund?"

The impact of the Thai baht soon spread around the world.

Since the Quantum Fund has publicly launched an offensive declaration against the Thai baht in the market, countless small funds have followed suit for a time.

Because, in the attack on the British pound, the mark, the franc and other currencies to achieve successive victories, the quantum fund has long been a leading banner in the US financial industry.

But no one thought that the Quantum Fund would collapse in the Thai market.

Under the skyrocketing price of the Thai baht, countless accounts that desperately followed the trend and shorted the Thai baht were blown up one after another.

In the major investment banks, the voices of Jushi Capital are being discussed, and there are relevant traders who are also discussing Jushi Capital.

Everyone seems to know what kind of existence Jushi Capital is, which can actually make the invincible Quantum Fund and Tiger Fund deflated.

Hong Kong

Standard Chartered Bank top floor.

George King looked helpless.

He smiled wryly.

"Boss, my phone is about to explode, and a lot of people are asking me for your news. ”

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