Chen Hui looked at Yu Yingxue's unwilling appearance, pondered for a while, and said, "Okay, Mr. Yu, I am mainly engaged in investment!"

Yu Yingxue was even more puzzled, and said blankly: "Do investment??", she looked at Chen Xiaohui speechlessly and said angrily: "As your teacher, I am really proud!"

Chen Hui swiped his mobile phone, and laughed again: "Teacher Yu, you will know in the future!And you will be even more proud!", at this moment he saw a news that shocked the world.

Devil trader Goro Harano caused $45 billion in losses to Sumitomo Mitsui Financial Group in the copper market!

At present, Goro Harano has been detained by the police and is about to face 30 years in prison!

Goro Harano is also well-known in Toei's financial circles, but this time he also followed in the footsteps of Yamada, a devil trader.

It has refreshed the previous record of $40 billion loss of Yamada Fund!

Goro Harano is the chief trader of Sumitomo Mitsui Financial Group, and has two very intriguing nicknames in the circle, one is called 'General Victory' and the other is called 'Mr. Iron Fist', the former is the honorific title given to him by insiders, and the latter is portraying his character!

The reason why insiders call him "General Chang Sheng" is because the non-ferrous metal trading department of Sumitomo Mitsui Financial Group led by Goro Harano has maintained profits for 7 consecutive years, and then concurrently serves as a fund manager under Sumitomo Mitsui Financial Group, responsible for helping the wealthy people within the consortium to manage their assets, and has been profitable for 3 consecutive years!

In the past ten years, Goro Harano has made great achievements and has never been defeated!

"Mr. Iron Fist" is derived from the English name of Goro Harano, because Goro Harano's English name in English means similar to "Iron Fist". But the reason why this nickname can be called is mainly because it reflects the iron fist-like character of Iron Fist in trading. This personality contributed to his success, but perhaps it was also this personality that forged his failure.

In 1994, at the age of 22, Goro Harano joined Sumitomo Bank. Since then, he has been in the international precious metals market for 20 years. It is extremely unusual for Goro Harano to be able to keep this status for a long time. According to Dongying business insiders, Dongying's trading house usually adjusts traders once every two to three years. It can be seen that Goro Harano's ability in trading is extraordinary.

Subsequently, Goro Harano finally had the opportunity to participate in metal futures trading on the London Metal Exchange, and at that time he mainly worked on tin and nickel futures contracts.

In the beginning, he didn't have much fame, just an ordinary clerk. But in just a few years, Goro Harano began to reveal his heroic nature. By 2000, he was among the world's best copper traders every year, and by 2003 he had a place among the major players in the international metals market, and it was at this time that "General Victory" and "Mr. Iron Fist" were called.

However, no one may have thought that Goro Harano would make such an "unprecedented" super mistake this time. He brought up to $45 billion in losses to Sumitomo Mitsui Financial Group!

Now everyone is shocked, and this incident completely upends people's perception of him.

Sumitomo Mitsui Financial Group President Kitasan Masashi had to admit that it was a mistake to reuse Goro Harano and announced the dismissal of Goro Harano.

At the press conference, Beisan Zhenjie said very frustratedly:

"I had the impression that he was very self-controlled and very logical, so I trusted him and appointed him as the chief metals trader. But I'm very disappointed right now. ”

Goro Harano's mistake was to use the company's name to trade copper futures in a private account, and it was his "iron fist" personality that caused him and Sumitomo Mitsui Financial Group a huge loss of $45 billion.

Goro Harano held a long position in copper futures trading, that is, a large number of copper futures contracts, which was undoubtedly profitable when the price of copper rose, and Goro Harano was secretly happy about this.

But soon, the continuous decline in copper prices caused Goro Harano's long position to lose not only a loss, but also a very serious loss.

In fact, according to Des King, president of the New York Copper and Metal Exchange, as early as a month ago, they had noticed Goro Harano's behavior and warned him several times.

A few weeks ago, Kim received a letter from the president of XXX Agency, Schreel, revealing that Goro Harano had asked him to illegally provide him with false proof of transactions and suggested that Goro Harano be investigated.

The president in charge of trading also summoned Goro Harano and another trader on more than one occasion. On several occasions in previous years, the New York Metal Exchange has expressed concerns about the size of Sumitomo's position in the exchange's copper market.

A week ago, someone realized the unreasonable state of the price spread between the monthly copper futures contracts and asked the board of directors to conduct a detailed investigation. After a clear understanding of the positions held by each client in each contract and the ownership of the warehouse receipts in the exchange's warehouse, the New York Copper Exchange set up a special committee of professionals with no connection with each other and no fundamental conflict of interest to discuss how to deal with it. This special committee includes leading lawyers and senior regulators.

However, it was Goro Harano's "Iron Fist" character that pushed him out of the abyss once again. He naively believed that with his strong financial strength, it would definitely stifle the strong momentum of the continuous decline in copper prices. The poor performance of the fundamentals no longer seemed important in his increasingly bloated mind!

However, a large number of panic selling caused copper prices to plunge by 26% in the following weeks!

Now copper in New York has fallen to the 290.00 level, which is a jaw-dropping decline.

The ensuing panic selling blow widened the loss of Sumitomo Mitsui Financial Group's long position to $45 billion.

Now that it's happened, people are wondering who actually made the money from Sumitomo Mitsui Financial Group, because it's not a general business curiosity, but where the money goes will somehow determine who will play a bigger role in the precious metals market in the future.

Futures trading is a zero-sum transaction, and someone loses and someone earns. So whose hands did the Mitsui Sumitomo Financial Group's huge losses flow to?

At present, there are mainly some international funds that are short in international copper futures, including the large American precious metals investors, the quantum fund, especially the quantum fund under the world-famous Soros, who "defeated" the British government in one fell swoop in the British pound crisis in the 80s, as well as OCH-ZIFF Capital Management, Two Sigma Investments, Siberian Capital Management, as well as dozens of British billionaires, as well as well-known European metal traders.