James was just a middleman, he didn't mean to get too involved, and as soon as lunch was over, he was ready to leave.

"Chen, there's a drinking party tonight, you must attend. ”

"What kind of drinking party do I have to attend?" Chen Qiaoshan was a little puzzled, he was ready to leave, what kind of drinking party he was going to attend.

James smiled: "You can't refuse, Mr. Yu specially explained that you must be there." ”

Obviously, it should be Yu Xiaowan's father who has gone to Hong Kong.

Chen Qiaoshan knew in his heart that the cocktail party was definitely not held for him.

He doesn't have that much face, the reason why he received the invitation is more in passing, if he really wants to express his gratitude, it will be more sincere to entertain him alone.

Chen Qiaoshan is very self-aware, in the eyes of these people, he is really insignificant, but he did not refuse, anyway, it is good to have time to see the world.

After all, the other party is a private client of Goldman Sachs, and the guests invited to the banquet must be either rich or expensive, and he also wants to see what the origin of this surname Yu is.

"James, you're so uninteresting, I'm right in front of you, and you don't know how to call me if there's a drinking party?" Elliot complained a little exaggeratedly, and it was clear that he and James should have a good personal friendship.

James asked with a smirk, "Are you sure you want to participate?"

"Why not?" Elliot shrugged, "Even if you can't get a client, it's okay to get to know a few more beauties." ”

"As long as you're not afraid of being troubled by the compliance department, I'll send you an invitation when I get back. James replied with a smile, and Elliot shook his head helplessly, it was better not to ask for trouble.

Chen Qiaoshan couldn't help but laugh, among the major investment banks, the investment banking department (IBD) and the investment banking trading department (S&T) are two departments with completely different natures.

Even if it is the same investment bank, there is a strict physical boundary between IBD and S&T, even if there is work between each other, the communication needs to be approved, otherwise there will be internal control departments looking for trouble.

S&T people must not be able to enter IBD's office area, and in the internal system, S&T, IBD, ER cannot communicate directly with each other, even in order to communicate with customers in a unified voice, work communication needs to be recorded.

This is one of the regulatory tools, but it has a limited effect.

There is no stupid person who can enter this industry, and even if you want to engage in insider trading, no one will leave a handle from time to time.

……

James left first, but Chen Qiaoshan still had to stay, the matter had just begun to be discussed, and it would definitely not end for a while.

Chen Qiaoshan will not rashly invest money in UBS because of its big name.

Deutsche Bank is famous enough, but it still makes the famous director Chen Kaige's famous ex-wife suffer heavy losses, so much so that he scolded on Weibo: Deutsche Bank's private wealth management is the most pitiful in the world.

How pitted Deutsche Bank is, only the people who have been cheated know in their hearts.

I don't know how much money I lost, anyway, it must be indispensable, people want to be face-saving, and they can let the so-called famous people run out and scold the street, thinking that it should be bleeding profusely.

In 08, a large number of mainland tycoons were bloodbathed by the Hong Kong financial community, and the losses could not be counted.

Among them, the most heaviest loss is the boss of CITIC Pacific, not to mention the loss of 18.6 billion Hong Kong dollars, and finally lost the management of the company, losing more than 100 million yuan a day on average, which feels extravagant when you think about it.

Behind the scenes, it is five or six foreign banks led by Citibank, DBS Bank, and ABN AMRO.

There is no discipline in the financial market, and there is no distinction between Chinese and foreign.

Zhuyu is in front, and Chen Qiaoshan can't help but deal with it carelessly, not to mention that his money is borrowed, once something goes wrong, no one will help him to cover it, and it will hurt his muscles and bones, that's for sure.

"Mr. Chen, are you going to my office, or is you looking for another place?" asked Elliot politely.

He has more than 10 customers in his hands, and there are also two and three generations of Shaodong in Hong Kong and Macao, Chen Qiaoshan is not the most capitalized, but he is the youngest one, especially from the mainland, he is even more concerned.

With the gradual opening up of the mainland's capital market, it is clear to all financiers that the center of gravity of Asia's financial sector will inevitably shift to China.

If nothing else, just look at the senior officials of the US Treasury Department who are running to China one after another, and even if the purpose is not pure, whether it is to pull the strings or exert pressure, China's economic position is also growing stronger day by day.

Elliott is well aware that the mainland market is the main battlefield in the future, and there will be more and more customers like Chen Qiaoshan.

I have to participate in a drinking party in the evening, and Chen Qiaoshan doesn't want to toss, "There's a café next door, let's go and sit there."

……

At the Costa Café in Lane Crawford on the third floor of the IFC, the two chose a parasol location at the end of the terrace.

Sitting here, with a panoramic view of the unobstructed Victoria Harbour, it is a good place to talk because of the remote location, few people will come here.

"Elliot, you are a friend of James, I trust you, and I don't want you to hide anything from me. ”

"Chen, please rest assured that as a professional financial advisor, I have strict professional ethics. ”

There is no evidence for the empty mouth and white teeth, Chen Qiaoshan will not believe it easily, but the time is pressing, and he can only go straight in, "I need to complete the account opening process before the 15th, can this be done?"

Elliot was a little embarrassed, it was less than two weeks to be full, and the time was indeed a little tight, and after thinking about it, he asked, "Chen, do you want to do carte blanche or choose a consultant commission?"

The so-called discretionary mandate can be delegated to a financial advisor, to UBS's portfolio management team, or even to a third-party investment manager, who only provides risk warning services for authorized accounts.

"Carte blanche, of course. "Chen Qiaoshan can't stay in Hong Kong all the time, and he doesn't have any transaction experience, so he can only find an agent to deal with it.

Elliot laughed, "If that's the case, then there's no problem. ”

UBS accounts don't even need to be registered with their real names, as long as the money arrives, any other problems are not a problem.

"Chen, what are the types of investments you are used to, as well as risk appetite, you might as well say that we can customize an investment plan for you. ”

"I don't have any preferences, as long as I can make money. Chen Qiaoshan rarely told the truth, of course, there were mostly jokes.

Elliot smiled, after all, he was a young man, so it was in line with his expectations, but before he could speak, Chen Qiaoshan said again: "I'm going to do futures." ”

"Futures?" Elliot was a little surprised, most of his clients' personal finance business is aimed at outperforming inflation.

No matter what kind of investment portfolio, the preservation of wealth is always the first, and the allocation of high-risk assets must be the smallest.

Elliot hesitated, "Chen, you mean only futures?"

"Yes, international crude oil futures. Chen Qiaoshan went straight to the bottom, "But for the time being, we can only consider derivatives." ”

Before the price of crude oil reached the peak, Chen Qiaoshan did not dare to wade into this troubled water, as opposed to long.

During the period of violent market volatility, even if the historical highs are already known, there is a risk of liquidation if you go long, and of course, taking the opportunity to enter the market and go short is definitely a sure thing.

Before that, Chen Qiaoshan will not be idle, China Aviation Oil lost billions of dollars because of selling call options, and he doesn't mind taking a piece of the pie.

Similarly, knowing the future all-time highs, the risk of buying a call option is infinitely close to zero.

Elliot frowned, how could he not understand that Chen Qiaoshan was the rhythm of placing heavy bets.

He vaguely knew Chen Qiaoshan's intentions, and in today's market, Japan's Mitsui Bank, Société Générale, Barclays Bank and Singapore Development Bank have jointly signed a VAM agreement with the Singapore branch of China Aviation Oil outside the crude oil futures trading market, worth nearly two billion US dollars.

Obviously, Chen Qiaoshan should have the idea of playing this crude oil options trade.

Elliot calculated in his heart that although Chen Qiaoshan did not have a lot of funds, if he entered the market with full leverage, he would still be able to leverage a large order of nearly 60 million US dollars, and even if the transaction rate was reduced to the minimum, there would be 1.5 million US dollars in the account, of course, this money would have to be split in half with the underwriting bank.

Of course, this is only a theoretical value.

Due to the particularity of options trading, especially the international crude oil futures market, which is second only to the foreign exchange market, the trading volume and the strike price are guaranteed.

Buying a call option, Chen Qiaoshan will accompany the principal at most, and if the bet wins, the theoretical income can be infinitely magnified.

But the bullish oil market, Elliot feels crazy to think about it.

Since the U.S. military attacked Iraq, oil has soared by nearly 50% in a year, and now OPEC does not express its position, demand continues to decline, bearish is the mainstream of the market, and major investment banks are also bearish on the market.

Elliot did not interrupt Chen Qiaoshan, and waited for him to finish his speech before he said: "Chen, crude oil futures continue to fluctuate this year, with all due respect, it is unwise to enter the market at this time. ”

If it weren't for the violent fluctuations, where would Chen Qiaoshan get the opportunity to make money.

"Don't worry, this money is used to practice, even if you lose it all, it doesn't matter. Chen Qiaoshan had never pretended to be a big-tailed wolf like this in his two lives, and even he felt a little too much when he said it.

However, seeing Eliot's constipated expression, Chen Qiaoshan suddenly felt a breath of Wang Ba filling his chest, from the heavenly spirit cover to the soles of his feet, he was very comfortable, and even looking at the private yacht in Victoria Harbor was much more pleasing to the eye, maybe it won't be long before he Chen Lao Er can become famous and become a rich generation who can afford luxury yachts.

"Well, Mr. Chen, or you should think about it again. Elliot had a feeling of beeping a dog in his heart, and at first he was quite grateful to James, after all, he brought in a big customer, but now it seems that this is a financial idiot, a typical person who is stupid and has a lot of money.

It doesn't matter if you have money and are willing to pay it off, but he still has to mix in this business, if the news gets out, who can trust him, thinking of this, Elliot is a head and two big, he regrets it very much, why don't you ask James clearly.

"Don't think about it. "Chen Qiaoshan is in high spirits at this time.

The buyer of the option only has the right to exercise or not to exercise, and does not have to bear the obligation to perform the contract, and the income changes with the fluctuation of the market, at most the loss of the premium, according to his understanding of Goldman Sachs during this time, this alone, conservatively estimated that he can make a profit of nearly 10 million US dollars.

Chen Qiaoshan couldn't help but feel a little pity, China Aviation Oil lost more than 400 million yuan in this order, if it weren't for the limited funds, how could these capitalists take advantage.

This is how finance is engaged, capital is king, the dealer eats the lion's share, and the rest of the soup and water will be divided.

Chen Qiaoshan is not depressed, there will be opportunities in the future, you know, China Eastern Airlines also lost 6.5 billion yuan in crude oil options in 08.

Of course, when it comes to being more miserable, Air China is better, and when it comes to the ability to waste money, those big men will always exceed people's imagination.

Chen Qiaoshan said: "There are several banks in Hong Kong that have taken over large call options sold by China Aviation Oil, and I know that this deal was brokered by Goldman Sachs, and this matter should have spread, right?"

Elliot's face was a little stiff, it was no secret in the first place, but no one dared to bet on the rise in oil prices.

I also know that those banks are also happy to share the risk with others.

"Yes, but Mr. Chen, there is a great risk of losing money when you buy a call option. ”

Chen Qiaoshan was unmoved, "Elliot, I know what I'm doing, don't worry, I will be responsible for the decisions I make." ”

Elliot was helpless, he wanted to persuade but couldn't speak, he couldn't help but be very annoyed, he said it to death at first, and now he can't take orders if he doesn't want to, if there is really any bad news, it will be the same as smashing the signboard.

Anyway, he has fulfilled the obligation of risk notification, even if Chen Qiaoshan loses the bottom, and the commission is indispensable for him, thinking about it, Elliot has to grit his teeth and take over this ironclad list of options economy.