Chapter Seventy-Five: Selling the Thai Dollar
After lunch, the group of three returned to Jinquan Securities Company, and according to Lin Cheng's wishes, Chen Huiyi converted all of Lin Cheng's 30 million Hong Kong dollars into US dollars and put them into a short position of selling Thai baht.
At present, the exchange rate of Hong Kong dollars to US dollars is 7.75 Hong Kong dollars for one US dollar, and Lin Cheng converts 30 million Hong Kong dollars into 3.87 million US dollars, and then invests 3.8 million US dollars into a short account of Thai baht, and uses 20 times the leverage that is relatively risky.
As Lin Cheng's trading manager, Chen Huiyi naturally advised him, saying that there is no need to take such a big risk in shorting the Thai baht, if the Thai baht exchange rate has huge fluctuations, it is very likely that the tragedy of margin call will occur, and the trading system will take the initiative to close the position, so Lin Cheng's more than 3 million US dollars will be all lost.
Lin Cheng insisted on going his own way, and now it is 30 June, and the current exchange rate of the US dollar against the Thai baht has been controlled by the Thai government in the range of 1:25, but Lin Cheng knows that in two more days the Thai government will give up the "pegging system", and the Thai baht will depreciate by nearly 20 percent in one day, and the carnival of bears is about to come, and in 1998, the Thai baht will even depreciate to the point of 1:55.
Chen Huiyi could not dissuade Lin Cheng, and immediately signed a self-financing agreement with Lin Cheng, saying that once Lin Cheng's investment fell into a loss, Jinquan Securities and Chen Huiyi would not be liable for a dime.
Lin Cheng didn't say anything about this, two days later, Chen Huiyi would understand how wise and martial Lin Cheng was, and there was no point in arguing with her now.
……
Leaving the foreign exchange market, Lin Cheng and Li Muzhen stayed at the famous Shangri-La Hotel in Xiangjiang, originally Lin Cheng wanted to stay in the more famous Peninsula Hotel, but due to the imminent return, the Peninsula Hotel stayed in many big leaders and big figures who came to watch the ceremony, and the hotel had long been blocked by outsiders, so Lin Cheng had to retreat and chose the nearby Shangri-La Hotel to stay.
Shangri-La Hotel, the highest hotel in Hong Kong, is located in the financial and shopping malls of the Central and Western districts of Hong Kong Island, offering a panoramic view of the world-famous Hong Kong, Victoria Harbour, Hong Kong and Kowloon, as well as the peaks of the New Territories.
As a glutton, after Lin Cheng got the key to the hotel room, he did not check in as soon as possible, but pulled Li Muzhen to the hotel's dining area, which has a noodle shop, Hong Kong Island gourmet, Summer Palace, lobster bar, Hong Kong Island coffee shop, Naidaman snack bar, Shibu Anopi restaurant and many other famous restaurants.
Lin Cheng and the two finally chose the Summer Palace Chinese Restaurant, which was designed by a famous architect, and the tables and chairs in the restaurant and the porcelain vase bonsai are all imitated by the ancient court furnishings, which is very charming.
Lin Cheng and Li Muzhen sat in an elegant small box, enjoying all kinds of excellent delicacies comparable to the Manchu and Han banquets, drinking Moutai shipped from China, and enjoying the prosperous scenery of Victoria Harbour outside the window.
Li Muzhen, who took two sips of Moutai, quickly lost his strength to drink, leaned on Lin Cheng's arms with a flushed face, and suddenly sighed: "Such a beautiful life, I couldn't have imagined it before!"
Li Muzhen's eyes were intoxicated, and no matter who she was, she could see that the happiness in her eyes was about to overflow.
Hearing this, Lin Cheng lightly scratched Li Muzhen's little Qiong nose, and chuckled: "Little fool, this is nothing at all, in the future, we will go to the Champs-Elysées in Paris, France, go skiing in the Swiss Alps, go to Iceland in Antarctica to see penguins, go to the Empire State Building of the United States to see the scenery, and even in the future, I will buy a London castle and hire the most professional British butler, so that you can become the castle hostess that all women are jealous of!"
Li Muzhen was completely drunk, and muttered with his mouth: "If this is a dream, then let me be drunk forever!"