It takes nearly 20 hours from Heathrow Airport to the Capital Airport, and Tian Dongliang got on the British Airways plane in the early morning, and it was late when he got off the plane.

However, Tian Dongliang's spirit was so high that he didn't mean to rest at all.

"Manager Tian, please come with me. "The person waiting at the airport was not from the bank, but an officer from the public relations department of Dahua Industrial, a young man who looked like a recent graduate.

Tian Dongliang looked left and right, but found no other pick-up person, and couldn't help asking: "When will my report be submitted?"

"We're going to the information bureau now, and after reviewing it, we'll find a way to send your report to you. The young man got into the driver's seat and started driving.

Tian Dongliang's face changed slightly: "Do you still want to censor? I told you Su Dong that my article must be completed by me independently, otherwise I would rather not publish it." ”

"We won't revise your article, but since we submitted it, we should always know what's inside. ”

Tian Dongliang pursed his lips and said, "What if the review is not satisfactory?"

"We hope you can change it, and if you can't change it, we will have to stop submitting it. The young man in the driver's seat looked in the rearview mirror and said.

If Tian Dongliang had been two days ago, he would definitely be at a loss at this moment, but the time in London is too exercised, even an honest husky can become a cunning wolf. He also looked in the rearview mirror and smiled for a while: "It's impossible, even if you can't change it, you can't help but submit it." This is your chairman's plan, and if it weren't for the urgency of time, he wouldn't have sent me back to China overnight. Do you say?"

The young man's smile seemed to be frozen, and after a while, he was relieved and said, "Li Bu said, if you are not convinced, just let me notify you." All in all, the review is still the review, and what is the outcome. The people above decided. ”

After saying that, he concentrated on being a driver.

Tian Dongliang stared at him for a while, and reluctantly accepted the result. In his position, he is not qualified to deliver reports to the State Department, and this is undoubtedly a shortcut to the south, a strip of gold with countless empirical examples, from a vulgar point of view. Tian Dongliang looked forward to the appearance of his name. To be able to break the rising ceiling in the bank, and from a less vulgar point of view, Tian Dongliang also hopes that one day, he can really become a pillar and not live a life of following the footsteps of loan merchants every day.

Dahua Information Bureau.

A three-member review team was formed by an analyst trained by Dahua itself, a former political cadre at the department level who had recently retired, and a retired media reporter. They will be based on the scope of their own review. Give Tian Dongliang's report a score.

In addition, the Strategy Department also sent two people over. Always ready to rewrite reports.

It is obviously not appropriate to change a person, but it is not powerless. If the content of Tian Dongliang's report really cannot be passed, and he refuses to revise it, there must be a backup plan.

Only then did Tian Dongliang realize that Dahua Industry was fully prepared, and he quietly wiped his sweat, glad that he focused on the financial process and nothing else.

"That's it. The political work cadres were the last to read it and handed over the review results to Dong Feng.

"Good rating. Dong Feng looked at Tian Dongliang outside the window in surprise.

The political cadre smiled: "No matter how you say it, you are also a person in the system, and if you pay a little attention, there will be no big problems, but I don't understand finance." ”

"It's good that there are no political issues. Dong Feng Shicai also read the copy of the report, and at this time, there are retired veteran cadres to check it, so it is much more reassuring.

Retired politicians and senior government officials abroad often consult with companies, but at home, this trend is not popular, and Dahua Industrial does not want to set a precedent or rob state-owned enterprises of their tricks, so they use the methods commonly used by Japanese conglomerates to pay salaries from overseas companies and then provide serious project analysis. Although many people felt that this was an extra move, Sioux City insisted, and Dahua Industrial also persevered.

After nearly 8 years of indoctrination, Sioux City's will has been fully instilled in Dahua Industrial. Such a long time is enough to win the Anti-Japanese War, and it is naturally enough for Dahua to build its own system.

"Congratulations, Manager Tian. Dong Feng went out and shook Tian Dongliang's hand, and sent Tian Dongliang, who was peeking at the political work cadres through the glass, out of the door.

Tian Dongliang didn't know what mood he was in at the moment, a little weird, and a little excited.

……

Lunch.

Su Zhenguo finished a 30-minute short nap, sat on the edge of the bed and drank today's ration of water, let out a sigh of relief, and under the protection of the nurse, he was ready to go to the yard for a walk twice.

When he passed through the side door, he saw his secretary waiting there with a notebook.

"Something?" Su Zhenguo is full of energy, compared with senior leaders of the same age, his health is good, and at this status, living long and being healthy is the biggest trump card, and the secret of the Su family's longevity seems to be this.

The secretary nodded and said softly: "You said that Pan Asia Fund is trading futures in London, and I will tell you if there is a new situation." ”

"What's new?"

"Crude oil futures in London are at $15, and in New York they are starting to recover, above $16. ”

"What's the change?"

"On the surface, it doesn't seem like much has changed, but I asked a few people and guessed a bit. "The secretary of the Su Office is definitely the best of the best, and it is necessary to have two eyes and prepare more information for Su Zhenguo's work.

Su Zhenguo walked slowly under the grape trellis, sat firmly, and asked, "What guess?"

The secretary spread out the notebook, looked at it as if to be sure, and said, "We suspect that the Pan Asia Fund, or Sioux City himself, may have invested in the contract for difference between New York and London." ”

"Oh?" Su Zhenguo obviously didn't know what it was.

The secretary briefly introduced: "The contract for difference is to bet on the price difference between New York and London, and if you guess the right direction, a small spread can also make a lot of profits." ”

"Did Sioux City guess right?"

"We reckon. The secretary whispered: "I asked people to compare the futures contracts in London and New York, and asked a few more banks. They should have invested a significant amount of money and made a decent profit. ”

The exchanges in London and New York are relatively transparent, and most of the financial firms' investments are traceable. As long as you know some relevant information, it is not difficult to find clues.

Su Zhenguo pulled a little grapevine down, chewed it in his mouth, and asked, "Tell me, how much does this kid earn? If he doesn't make much, you won't report it, right?"

"It is currently estimated that at least $2 billion. The secretary spat out the number. Say no more.

Su Zhenguo bit off the grapevine: "$2 billion?"

"There should be so many. "The secretary didn't dare to make a categorical guarantee, in fact, when the figure came out. He was much more frightened than Su Zhenguo.

And the real profit is much more than what he told Su Zhenguo.

At this moment, London has already opened, and oil prices are still volatile. New York, on the other hand, thinks it is free from OPEC......

The difference between the two places. It has expanded from 50 cents at the opening of London to 80 cents.

If you were to accurately estimate Sioux City's profits, it would have increased by at least 60 percent to more than $3.5 billion.

But with such a large number, the secretary of the Su Office would not use "at least" to describe it, even if he used a very stable "2 billion US dollars", he felt shocked.

If it weren't for the timeliness of futures, the secretary would have waited for a more accurate result. only to report to Su Zhenguo.

Su Zhenguo also knew the code of conduct of the secretaries, so he added a little bit to this number in his heart. Then he asked, "How many barrels of crude oil is the equivalent of?"

"The price of oil in London is currently $15 a barrel, which is 133.33 million barrels, and if you look at $18 a few days ago, it is almost 111.1 million barrels. The secretary quickly mentally calculated the result.

"It is equivalent to earning a year's production of Shengli Oilfield. Su Zhenguo sighed and said: "This financial speculation is really powerful. ”

"Yes, and the cost is very low, the cost of crude oil exported by Shengli Oilfield accounts for more than half. "The quality of China's crude oil is generally poor, Daqing's is slightly better, and the crude oil in Shengli Oilfield is much worse, and the more light oil is extracted, the less heavy oil, the cost is rising, and all kinds of selling prices are falling.

Su Zhenguo held a horizontal piece of the grape trellis with his hand, stood up and asked, "If Su Cheng makes a mistake, will he have to lose so much money?"

"If he keeps adding margin, he will have to accompany so much, and if he doesn't add it, it will stop losing all the margin, we guess, about 200 million US dollars. ”

Su Zhenguo nodded "um" and said, "It's so bold ......"

After a pause, just as the secretary quietly left, Su Zhenguo said to himself again: "Like me." ”

……

More and more people are paying attention to CFDs.

As a contract product developed in the 70s, the spread contract is also an early financial derivative, however, before 2000, financial derivatives were not popular, whether it is customers or traders, or prefer real futures.

Yes, compared with financial derivatives, futures are more real, taking crude oil as an example, if the long futures contract fails, you can also choose to deliver, and the short futures contract fails, or you can choose to buy it in the spot market, and then transport it to the delivery warehouse.

In contrast, financial derivatives are more like futures of futures, there is nothing that can be delivered, and the leverage is generally high, once lost, it is easy to lose the essence. For example, financial derivatives that bet on good or bad weather, which include all kinds of agricultural futures, and perhaps stocks of logistics companies, once the bet is in the wrong direction, it is almost impossible to reduce losses from other directions.

In the '90s, when investment banking was not yet rampant, there were very few crude oil futures traders who touched the spread contract, but when they found out that Sioux City was making money, and making a lot of money, the number of followers began to increase.

This makes the situation more and more chaotic, those who make money, those who lose money, and those who do not make money and do not lose money......

As the number of participants increased, financial institutions that had previously stayed out of the equation began to get involved. Lehman Brothers, Société Générale, Aruba Investment Company and other companies that are not optimistic about the Pan Asia Fund even felt that the time was ripe and held high the green money to enter.

Even Enron of the United States, which has closed its positions and pledged losses, has re-dispatched traders and started intermittently testing the waters.

…… (To be continued......)