More than once, Hirano Hidetomo had the idea of cutting his flesh to escape, but the rising price of crude oil and the fact that the losses had not yet been filled prevented him from realizing this idea.

Perhaps, oil prices have really started to rebound, and if Dahua Industrial leaves the market with a profit, the price of crude oil may rise to $17.

Looking at the oil price of around $15.50, Hirano Hidetomo thought of closing the position several times and vetoed it several times, but he didn't even make any actual moves.

Sumitomo Corporation's current floating loss is more than $2 billion, and if it closes its position, it may have to lose $4 billion to completely escape, and it is about to catch up with the "worst loss in history". If you go back with such a report card, no one in the head office will think that he is "cutting meat to escape", and most of them will accuse him of erasing the hope of turning the tables.

On the other hand, Hirano Hidetomo didn't want to make the senior trader hiding on the second floor happy, so he ordered the position to be closed, which was tantamount to taking all the blame on himself and getting rid of these two guys.

The reality factor and the small hope made it difficult for Hirano Hidetomo to make up his mind, and by the afternoon, he didn't need to make up his mind.

Michio Matsumoto from Sumitomo Trading's headquarters and his subordinates took over the accounts and funds in the London office.

Hirano Hidetomo couldn't tell whether he was glad or disappointed and stood aside, he still stayed in the exchange, nominally to be for consultation, but in fact to let him explain all the details of the transaction, and a newcomer who had only joined the trading company last year stayed by his side, looking like he was watching and ready to ask.

But Hirano Hidetomo knew that the trading company would only decide on his disposal based on the final result.

He stared at the newcomer Michio Matsumoto with playful eyes. This guy is a senior who entered the company two years before him, and the two sides had a brief contact. Michio Matsumoto has overcome difficulties several times because of his excellent work. He then became the head of the second sales department. In Japanese trading companies, the minister, that is, the manager-level cadre, can only be said to be middle-level. However, as a general trading company with assets of 300 billion US dollars, the head of the second sales department of the headquarters is the core of the core, and it is said that one of the shortcuts to becoming the president is to become the president.

Of course, I want to become the president. First of all, you can't make mistakes.

Hirano Hidetomo thought to himself: The futures market is not something you can do without making mistakes.

Michio Matsumoto obviously expected it, and under heavy pressure, there was not a trace of a smile in his eyes. Looking at Hirano Hidetomo, there was no sympathy.

What makes him better than Hirano is that the trading company will not ask him for $18 at the starting point, and at the same time, he also has full authority. Don't overstep. However, in the face of many losses, no one will feel easy.

"Narrowing the loss to $1 billion is success. However, if you can't reduce your losses, don't increase them either. Michio Matsumoto still remembers the personal entrustment of the vice president before leaving, as a super-large general trading company, it is basic common sense to pay attention to the crushing of peers while doing things, and he does not want his good future to become bleak in London.

I listened to the report roughly. Michio Matsumoto straightened his short body, his small eyes widening. "Now, I ask you to make a plan to withdraw first, based on the current situation, and find out as soon as possible, if you close the position, or withdraw part of the funds, the losses will be caused." The timing is important, and the loss should be as small as possible. ”

"As small as ...... To what extent?"

"$500 million is the tolerable limit, and if you can't do it, you'd better buy some T-shirts and get ready to retire in the tropics." "Michio Matsumoto is murderous. The tropics are all places where trading companies are weak, which means that the future is slim. Correspondingly, if Matsumoto can't do this, he might have to prepare a T-shirt as well.

The two senior traders, Hasei and Hirota, were full of bitterness, and it was not too difficult for them to close their positions as long parties, but to reduce the loss to $500 million, which is now one-sixth or even one-eighth, is really beyond their ability.

Hirano Hidetomo was inexplicably a little happy, his guilt had been decided, there was no need to bother anymore, these tiresome things belonged to the two senior traders.

Under the shock of Michio Matsumoto, Hasei held on for 30 seconds and said: "Then we can only wait, we have no choice, Hirano bets heavily on many sides, not that you can withdraw if you withdraw." ”

He tried to put the blame on Hidetomo Hirano, who pouted, but didn't hear it.

Matsumoto wouldn't follow his train of thought either, and "hummed" and said, "So...... I want you to make a plan, I want you to make a prediction based on your own experience, how much do you think the price of crude oil in London will rise, at which price we will sell will be less volatile, and we will have to sell in several steps to successfully close the position, I want to see the detailed plan, understand?"

This requirement is very simple, it is often done by traders on exchanges, and many ordinary orders will have similar operations.

But in the current state, the tone of this plan is a plan rather than a petition, and if something goes wrong, Matsumoto can put a large part of the blame on the two traders for not estimating accurately as long as he comes up with a plan.

And it is obviously extremely difficult to estimate accurately.

Hase's face turned green, and he hurriedly said, "Since Your Excellency Matsumoto is here, we should act according to your plan, for the price of crude oil, the current fluctuations are too strong......"

"You're a senior trader on the London Crude Oil Exchange, and I haven't been paying attention to London crude oil futures in detail lately, so of course I want you to estimate the price. Write now, I'll see the plan in two hours, otherwise, you can report back to the headquarters yourself. "Matsumoto's momentum is stronger than that of a man in a room.

Hasei thought to himself, let us do everything, what are you going to do.

He puffed out his cheeks twice, and gradually lost his courage.

In Japanese trading companies, it is common for subordinates to take the blame for their superiors or to be robbed of credit by their superiors, especially for people like them who are not in the same system and have made mistakes.

When the time comes, even if the report is correct, Matsumoto can take it as his own advice.

The same thing has been done by both Hasei and Hirota, and this kind of lawsuit is useless to the headquarters, and it will make colleagues feel excluded.

It's all to blame on Hidetomo Hirano!

Hasei began to regret not stopping Hirano's aggressiveness earlier, and both senior traders glared fiercely at Hidetomo Hirano. Although the latter is punished more, everyone wants to bear the punishment.

"During this period......" Michio Matsumoto saw that they were subdued, and said solemnly: "The business society has reviewed all your operations in the past two days, and I will suspend all your permissions, and other intermediate traders and junior traders who are not involved in this matter, all have transaction applications reported to me......"

Michio Matsumoto adopted the strategy of hitting batches and pulling batches, but what he didn't expect was that his seemingly complete orders wasted the last day of Sumitomo Corporation.

A day passed quickly.

Sioux City's tension did not ease, and he got up before 6 o'clock and began to pay attention to oil futures trading around the world. In addition to crude oil futures in London and New York, exchanges such as Tokyo, Dubai, and Singapore also have other oil transactions, such as fuel oil, diesel, aviation fuel, etc., which are naturally not large quantities than crude oil, but they are also futures contracts on their own, and the number cannot be considered small.

The price of these oils is, to a certain extent, to reflect the price of crude oil, but Sioux City is mainly to ease the mood.

These two days are the last window period before the decisive battle, and it is difficult to say how many financial institutions will flee if oil prices do recover.

Especially those guys who entered the market before $16, some of them may have made a profit, and if they take profits, they will really make money and leave.

In the eyes of the empty giant's Sioux City, these many parties who ran away took away their own money.

Long and short betting, too many chips on the opposite side is not a good thing, but when it comes to winning, it is not worse to have fewer chips.

Qi Xiao didn't understand at all, and accompanied Su Cheng for two days with dark circles.

It wasn't until the evening of the second day that Sioux City's expression really relaxed.

"Sumitomo, Xingye, and Enron have not closed their positions?" asked Su Cheng and the bell rang for the closure of the market.

Qi Xiao didn't feel relaxed at all, checked the information, and said: "Enron seems to have reduced his holdings by 10,000 hands, and there hasn't been much change in other institutions." ”

10,000 lots is 10 million barrels of crude oil, and the selling price is more than 100 million US dollars, and if you calculate profit and loss, it is about 20 million.

Su Cheng rubbed his neck and said with a headache: "An Ran is still quite clever." ”

"Yes. ”

"It's a pity. ”

"Yes. Qi Xiao secretly thought: What if we all run away, we can make at least $2 difference, if they don't run, who knows what will happen tomorrow.

Su Cheng sighed twice more and made sure that there were no major changes in the market, so he went back to rest.

He slept well this night, got up at 7 o'clock in the morning, spread out a pile of newspapers and read.

Sure enough, in the corners of several financial editions, I saw the news of several companies increasing production, whether it is Repsol, or companies like British Global, they all control a large number of oil fields around the world, limited by technical costs and sales pressure, there are always oil fields that are limited or reduced.

Western oil companies have a tradition in this regard, and in the development boom set off by oil-producing countries around the 70s, they found reserves of more than 20 billion barrels, and tens of millions of barrels of daily production, all caused by the concealment of oil companies.

However, just the increase in the company's crude oil production cannot cause immediate results, and the news on the front page of the financial edition, the news of OPEC's inventory of global crude oil production, is the killer feature of the bayonet.

…… (To be continued......)