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Chapter 571: The Flower That Never Wiers

David's decision is that anyone in the world can be betrayed, let alone a Russian ** who is thousands of miles away

So what is there to hesitate about now, if you buy this guy, you can exchange it for 50 million US dollars, and you will fill in a thick amount of credit in your credit book, and the cornerstone of becoming the head of the Morgan consortium in the future will be much more solid.

As for Li Zhiyang and James, after this, whether they can successfully reach a deal with Napu Ting depends on their own ability.

So David no longer hesitated, and began to slowly explain to Li Zhiyang and them...

When he was in the position of first director, he was in the shadow of many investors in Europe and the United States.

At that time, he was in charge of Russia's economic power, and it was his overt or covert operations that completely led to the depreciation of the Russian currency, the restructuring of the national debt, and the bankruptcy of the country's credit.

As a result, 97 years later, the US financial circles, which have been struggling to support, have directly led to the sudden death of the US long-term capital management company, and many other large European and American investment banks and investment institutions that have heavy positions in the stocks of many Russian industrial companies have also fallen by 70 to 90 percent.

The first cannon of the 'August **' was this Vladimir. Listen to it

In 99, this little man became the prime minister of Russia, and a year later, he directly forced the decrepit Yeltsin to pull down the throne and officially ascended the throne as the new Tsar of Russia

After this general hearing came to power, he was also unrelenting, and successively nationalized Gazprom, or Yukos, Rusal, and other companies.

Then Berezovsky and other former Russian giants were forced to go into exile one after another.

Since then, Russia has regained a good opportunity for development because of the rise in the price of crude oil worldwide caused by the United States' violent attack on Iraq.

And this popular listening has also won a high support rate in Russia, and at its peak, it was as high as more than 70 percent

It shows that this old boy is a porcelain business in Russia

But this ordinary listener must be an upright, incorruptible, and sage politician who works for the welfare of the people without asking for anything in return?

Li Zhiyang absolutely scoffed, and now there are loud voices in Russia demanding that everyone should step down

Because many people say that this general hearing will amend the constitution, extend the president's term of office, and then do it, because this year happens to be the arrival date of this general hearing.

But this old boy is a good time to be healthy, can he be willing to just let go of power and return to seclusion?

Li Zhiyang, who is familiar with the history of later generations, scoffed, this is absolutely impossible, it is true that this general hearing did not amend the constitution to extend the presidential term, but this kid turned around and became the prime minister of Russia, and it is estimated that he will have to work for eight years

And in a few years the new president of Russia, Dimitri. Medvedev is the little brother who was pulled up by this Pu Ting during his presidency.

This Medvedev, but Puting's confidant, turned out to be the chairman of Gazprom, who Puting had withdrawn

Therefore, if you want to say that this Pu Ting is a political saint and a role like Washington, Li Zhiyang does not believe it at all

Power is a glass of wine that is hard to refuse, how can someone who has touched it give it up so simply?

Therefore, Li Zhiyang didn't believe that this general hearing would give up his power so resolutely, and then go into seclusion to become a saint.

And when it comes to another aspect, such as whether Pu Ting wants to be as honest as rumored outside, Li Zhiyang also has a big question mark in his heart.

You must know that people with absolute rights like this will, of course, also have absolute **.

But before Li Zhiyang was reborn, the media of the Celestial Empire where he was located certainly had its own limitations, coupled with the special relationship between the Celestial Empire and Russia, so when reporting on Russian affairs, of course, it was always the same as always.

So he really doesn't know much about what kind of secret scoop there is

And now that David, this kid, can actually provide a lot to himself, then he shouldn't hurry up and laugh at it, after all, it won't be long before he and James will deal with that polar bear.

So about each other's news, of course, the more they know, the better

David has already begun to explain to Li Zhiyang at this time...

It is said that in 2000, Maunis, the president of Palomar, spun off a small fund from Palomar Fund, specializing in multi-based trading strategies.

The fund is headquartered in Greenwich, a small town in Greenwich, known as the home of hedge funds, fifty miles from Manhattan, New York.

At the beginning of the fund's creation, there were only 27 people and 450 million assets, and by 2006, the fund had become a large fund with more than 400 employees and 9.5 billion assets under management

In order to please the fund, several key leaders of the company decided to name the fund as the Greek word, which means 'flower that never withers', and the Chinese translation is Amarans.

The fact that these leaders have given this fund such a name shows that these people have given quite deep expectations to this 'flower that will never wither', and they have always hoped that this fund can be like its name, 'gambling for a long time'

It has only been a few years since it opened, and the net worth of this 'never-withering flower' has exceeded his total assets that once reached $9.5 billion, which was nearly twice as high as the original LT, and the other assets he controlled did not need to be much worse than that LT!

And all this, of course, is thanks to their number one trader, Brian. Hunter

Actually, this Brian. If Hunter continues to operate steadily, he may become the next legend of Wall Street, but his fault is that his gambling is too big, and as soon as he continues to shop, he immediately tosses this 'flower that never withers'.

And this Brian. Hunter's unique trick is actually the two tricks of LT, that is, to use hedging to control risks, and then expand leverage to make profits.

This kid is also ruthless enough, and the trading items he operates are also relatively unique, that is, natural gas

From a trading point of view, natural gas is a very strange thing, it is difficult to transport and store, so traditional pricing models based on spot, futures and arbitrage between different markets are not used.

The demand for natural gas is also difficult to predict, and many American homes use it for heating and air conditioning, so natural gas demand is closely related to the weather, and natural gas power plants that are easy to switch on and off but more expensive will also turn on and off as electricity consumption changes, which adds to the variability of natural gas demand.

In short, the natural gas market is complex and volatile, and there is no need for classical models, so traders often rely on intuition and experience.

But for Hunter, he is definitely the best of the gas traders

Mr. Hunt and his team of about 20 people are not based in Greenwich, but in Calgary, Canada, 2,000 miles away, to control the natural gas trade.

Brian, 2005. Hunter hit the jackpot

Between late August and early September, Hurricane Katrina visited Orleans, as well as oil and natural gas producers in the southern United States, concentrated in the Gulf of Mexico.

Many production facilities have been destroyed, and the supply of natural gas in the United States in the winter will certainly face considerable difficulties, so the price of natural gas has of course skyrocketed

And Brian. The group led by Hunter has made billions of profits for the company, and the assets of the entire Amarans have swelled to as much as $9.5 billion. Hunter is a big part of it

After that, Amarans was very optimistic about the natural gas deal, so more and more of the company's assets were transferred to Hunter's name for management.

And Brian. According to his years of experience, he thinks that hurricanes will continue to come to the United States that year, so the price of natural gas in the United States will definitely rise sharply in winter, but in the spring of the next year, as the weather warms up and natural gas inventories increase, the price of natural gas will definitely fall.

So he planned to bet on the difference in the price of natural gas in this winter and spring, and this Hunter was also ruthless, so the company's assets were constantly pushed to the table by him, and by February 2006, 39% of the company's assets had pushed him to the table.

As a result, in May, the company's assets experienced a sharp decline, losing more than one billion at once, and at this time, Brother Hunter was gambling.

Not only did they not close the position, but they increased the stakes, and as a result, such a crazy operation did pay off, and after August, after Amarans smashed into a total of hundreds of millions of dollars, the natural gas market finally attracted hypes after such a frenzied bet.

At that time, the natural gas market was soaring, not only making up for the loss of more than 1 billion yuan in May, but also making a profit of more than 1 billion yuan again

This time, the name of the gambling king Henry caused a sensation on the entire Wall Street, and Amarans also changed from the original multi-trading strategy fund to a casino that focused on natural gas trading

It is said that at this time, of course, everyone should accept it when they see it, throw it away and leave, but this Hunter calculates based on his own experience.

By the end of August, the beginning of September, it is estimated that there will be more hurricanes in the United States, and with the painful experience of Katrina last year, the price of natural gas will still soar at that time.

So this old guy, not only did not retreat at that time, but instead increased his own bets

At that time, 90 percent of the company's assets were staked into natural gas trading

As a result, in September, the hurricane did not come as promised, and the price of natural gas fell, and Amarens was dumbfounded, losing money astronomically every day

For the first time in its history, the fund's internal cash flow management department has received a margin call from a brokerage bank.

The fund's own employees began to realize how serious the situation was and how much capital had been filled in for huge leveraged trading of natural gas, but it was too late.

The fund lost money in one day, and lost another 2 billion as soon as it came up.

At this point, the fund has lost -50% in September, and there is no need to hide it, and it is impossible. President Maunis issued an open letter to all investors.

But it wasn't over yet, as a series of margin calls forced Amaranth to close his position in exchange for cash to meet the redemption demands.

So much so that Amarans had to sell his more valuable European portfolio loans and bonds, including the bonds of Manchester United Football Club.

took advantage of the weakness and bought a lot of contracts for the sale of the clearance price. Amarans' losses in the process of closing positions combined with previous losses, at the end of September, the total loss of the fund was -65%, and the total assets fell from 9.5 billion to only 3 billion.

And this only took a month, and Amarans offended not only his retail investors, including Goldman Sachs' Dynamic Opportunities Fund, Deutsche Bank, Morgan Stanley Bank, Bank of New York, and even Ivy League funds, and many other famous banks, or investment institutions, even took Amarans to court for compensation, because of this fund.

In this storm, it helped them lose more than a billion dollars

Fortunately, the economic environment in the United States back then was quite strong, unlike the moment of the financial crisis in 98 and now, otherwise this Amarans would have caused a financial storm.

In the end, the fund could only be forced to close its position and sell, and in the end, it was JPMorgan Chase that picked up a big bargain, which can also be seen from here The buddy righteousness between the Morgan family and the US government

And that JPMorgan Chase was the real bargain, and the meaning was still different from this time.

But after the 'never-withering flower' withered, it also aroused the suspicion of many people, and the dominant media on Wall Street blamed Brian for the final failure of the 'never-withering flower'. Hunter is too gambling, and Amaranth is too greedy.

But behind this is a lot of unproven gossip, which is looming, but everyone is not sure.

Because many people say that many of the 20-odd people in the trading team led by Na Hunt are Russians, and when someone asked him why he hired so many Russians, he also said that the Russians are strong in calculations

However, this natural gas transaction does not use too many mathematical models at all

And in fact, after he raised the bet in August, in fact, at the beginning, he won money, but why this Brian. Hunter not only did not withdraw, but instead increased the stakes and continued to gamble?

And even if he didn't understand it, could it be that his boss, the president, Maunis, didn't understand the microservice?

Anyway, after this incident, the 'flower that never withers' has withered, but it is said that the stock price of Gazprom did rise by 2.7 percent over the same period

And there are many people who vaguely say that there is a shadow behind this, and he uses the financial and material resources of Gazprom.

And secretly sent people to operate this incident

And the most incredible thing is that the Blackstone Fund, which has a close relationship with the U.S. government and is even called the money laundering machine of the U.S. State Department, did not lose money in this transaction.

It is said that Blackstone was also one of the investors in Amarans, but then they suddenly inexplicably paid two percent of the liquidated damages and redeemed their assets, and it took a long time for the United States to have a disaster.

And no one knows why, when the Fed was trading natural gas in Amarans, suddenly raised interest rates four times, forcing the federal interest rate from 3 percent to 5.25 percent

In short, the final collapse of Amarans is full of suspicions, there are too many, too many suspicious points, but no one from the parties involved has ever come forward to clarify.

That Brian. Hunter disappeared later, and no one knows where he went, and the financial vulture who had a full meal on Amarans' corpse, of course, JPMorgan Chase would not come forward to explain.

And many people who like conspiracy theories are saying that in fact, some people in the US State Department are colluding with some people in Russia, and then there are some people from Morgan, everyone is colluding with each other, using each other, and finally this fund with assets of 9.5 billion US dollars and a market value of 100 billion yuan, but there is no special strong background, is divided into corpses

Everyone has their own benefits, but they don't make a sound, and they make a lot of money

And in the end, crying and bleeding and crying, only some ignorant and fearless retail investors remained, and there were other big investment banks and big institutions that were blinded by huge profits

But the background of the people and institutions who did this this time is quite tough, so everyone can only lose their front teeth and swallow blood in the end.

David's plain and unhurried speech made Li Zhiyang very light

No wonder there are so many Jianghu sects this time, and they unanimously want the Morgan family to come out and top the tank, and these people are even pitted by their own people

You must know that many other investment banks and institutions in the United States lost money that time, among which Goldman Sachs lost a lot

And the most important thing is that there is a shadow of Pu Ting behind this matter, and this David also faintly mentioned that in their hands, there are still a lot of hard currencies in their hands, and the evidence is all pointing to that Pu Ting and hyping up this transaction

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