Manhattan, New York, USA, Goldman Sachs Headquarters, Investment Department

"Boss, the situation is not good, Merrill Lynch has reduced its holdings of 70 million shares or more in three waves, and we have now bought as many as 145 million shares, and there is not much money left in the proprietary disk account, if the other party throws it again, we will have to close the other stocks held and withdraw the funds!" Senna, the deputy manager of the investment department, was obviously unable to sit still in a hot sweat, and the top boss Mygo Jackson was obviously staring at the stock price trend on the big screen with a grim face, and no one knew what was going on in the boss's mind.

"Less nonsense, what is our average cost now?!" Mai Gao Jackson suppressed the boredom in his heart, turned his head and asked the beautiful female assistant, "It's $4.825 per share, but we borrowed 80 million shares before and after, and there are actually 65 million shares in the account...... If you close the position now, I'm afraid the stock price will plummet all the way......"

"The three private equity accounts that borrowed and sold short from the sales department haven't been closed yet?!" Maigao-Jackson's goal is to cut the wool of these three big customers who dare to short sell securities at Goldman Sachs, but I didn't expect the wool to be sheared, but the stock price fell to near the cost price of its own position under the pressure of Merrill Lynch's large-scale selling, and now of course it can't be shorted, as the only remaining main bull in the market, once the backhand is short, the stock price is definitely flying down 3,000 feet, after buying up to 145 million shares of Saturn cars, In fact, the 80 million shares of Saturn Auto bought today have been set above $5, and if the market is smashed again, it is not Merrill Lynch Securities, which underwrote Saturn Motors for $3, that is seen as a joke, but Goldman Sachs, which increased its holdings of Saturn Motors above $5!

"There is no liquidation, BOSS, now the stock price is falling, the other party has made more than a dozen points from short selling, how can you close the position lightly......" The deputy manager of the investment department is not complaining or complaining, but an objective fact, since the other party has not closed the position in the case of a floating loss of more than 10 points after the short sale, and now the short seller occupies more room for active maneuver in the case of floating profit, and it is probably unrealistic to expect the opponent to close the position, unless the stock price rebounds violently to trigger the short seller to take profits.

“Boss…… The customer of the sales department asked for an additional 30 million shares of securities lending......" The voice of the beautiful female assistant covering the phone report made Mai Gao-Jackson seem to see a life-saving straw, this guy pinched his waist and roared, "Then what do you need!" Doesn't it mean that as long as customers want to borrow and lend securities, they are satisfied! We don't cut the meat ourselves, as long as the other party doesn't close the position after short-selling, sooner or later we have to spit out the profits into our bowl! Promise them to borrow and lend securities! Margin leverage can be a little bigger! No more than 5 times as much! ”

As long as the other party does not close the position, it will not be considered real money, and once the other party tries to close the position at a low level, he will use a large buy order to pull the stock price back in one go...... At that time, there will be a lot of Saturn cars in Goldman Sachs' account, and Merrill Lynch's attempt to cut its own flesh will fail! Hmph, look who laughs at the end!

soon The result of Goldman Sachs lending 30 million shares to its own large customers is that the share price of Saturn Motors fell from the price of 4.750 to 4.125 in one breath, with a trading volume of more than 40 million shares in 45 minutes, and the average transaction price was 4.350, for Goldman Sachs Investment Department and Mai Gao Jackson, the good news is that Merrill Lynch seems to have completed the day's reduction plan, or that the price below 4.750 does not belong to the range of Merrill Lynch Securities to reduce its holdings, so the sell-off is a short-term liquidation order and a profit cash-out order, and the three private equity accounts of Goldman Sachs Securities Lending and Short Selling up to 110 million shares have not yet been closed!

"Boss, what now? Do you want to pull the stock price up? The market thinks that we Goldman Sachs are selling short and buying short, and we are playing......" Senna, the deputy manager of the investment department, looked at his boss with a wry smile, and thousands of grass and mud horses galloped past in his heart...... Goldman Sachs Investment Department shears sheep and shears their big customers, but even then they haven't sheared successfully. Now the stock price has fallen to the price of 4.125, and the average cost of Goldman Sachs' position is 4.825, and what is worse is that the 145 million shares of Saturn cars bought, only 35 million shares are left in the account, and the rest are no longer held because of securities lending, this confused account does not know how to close the position, and now whether it is from the book or in fact, Goldman Sachs has lost a huge loss of $0.70 per share on Saturn cars, with a floating loss of up to 14.5%!

"How much money is left in the account?!" Mai Gao Jackson is irritable but his brain is not confused, although the net assets of the self-operated market are less than 1 billion, the available funds are only 600 million US dollars, and if you add financing leverage, at least 12 billion will be used for the big battle on the Saturn car, and the ammunition should not be exhausted so quickly, of course, once the stock price cannot be supported, the board of directors may have to find itself accountable when there is a huge loss on the books, but it is not yet time to win or lose, as long as the stock price is pulled up and forced to close the position of the three securities lending customers, That brother is still a hero who has made a fortune!

"If you don't raise money, the $700 million in your account is already gone...... If you buy it again, you can only buy it with financing......" Goldman Sachs' female assistant replied cautiously.

"Start financing and buy from the current price, buy 30 million shares, and I'll see how long these bastards can hold out!" The vice president of Goldman Sachs Investment ripped off the tie of his shirt and gave the order to fight against the water.

Soon, the Goldman Sachs traders on the floor executed the buy order issued by the investment department. The stock price rose from the price of 4.125 in a straight line of 90 degrees, soaring above $5 in one breath, the trading volume in just a few minutes did not exceed 10 million shares, and the average transaction price was a tragic $4.925, which means that Goldman Sachs' large buy order was ambushed by the short seller's short chips hanging at a high level, and as the stock price came above $5, it became a tug-of-war in the range of $5.125 to $5 within ten minutes, and finally Goldman Sachs invested 30 million shares of buy funds were all traded above $5, but the stock price was suppressed from $5 to $4.225 by the 5 million shares sold by Merrill Lynch in one fell swoop......

"Boss, I think we have to stop, so our amount of funds is limited, Merrill Lynch's sell-off is simply endless, and the other party made it clear that we insisted on it on our cost line, and people waited to see our jokes if they fell below our cost line...... We can't make up for the low cost ......."

The deputy manager of the investment department of Goldman Sachs almost cried and shouted and took the hand of the boss and said let's admit defeat, so many empty battles to be sheared are definitely us and not opponents, the cost of 3 US dollars a share, our cost has now soared to 4.850 US dollars per share, and we have eaten a stomach of up to 175 million chips, once the stock price begins to turn down, the unjust head who is looking for a takeover can not be found at all, and it is not Merrill Lynch but Goldman Sachs itself that makes people laugh!

"Continue to buy 30 million shares of Saturn cars at a price of no more than $6!" Mai Gao Jackson can be the vice president of Goldman Sachs investment depends on his unique judgment and execution, and now his opponent is not Merrill Lynch Securities, but from Goldman Sachs Rong took 1100000 shares of Saturn Auto stock short sold three private equity funds from Cayman Island, Nima Dou Merrill Lynch Securities may not be able to fight, run a few private equity shearing each other's wool This head office, right?!

Goldman Sachs Investment Department gritted its teeth and bought another 30 million shares of Saturn Auto by means of financing purchase. The stock price has not been able to break through the high of 5.525, 30 million shares of buying orders within 20 minutes were all traded, and the average transaction price was as high as 5.325 US dollars, and after Goldman Sachs' buying funds were consumed, another 2 million shares of the sale of Saturn Auto stock price smashed to the 4.950 position, at this moment, the entire Goldman Sachs investment department was in mourning, and everyone's eyes were on Mai Gao Jackson, so if it continues, today is likely to become the Waterloo battle of the investment department's proprietary market!

"Boss, I think we can no longer let customers borrow and lend securities to smash their own field, Merrill Lynch Securities reduced its holdings by about 100 million yesterday, and the Saturn Auto shares sold today are close to 100 million, as long as we don't lend securities, the stock price of Saturn Auto will not continue to fall...... But we can't buy big anymore, in that case, Merrill Lynch may continue to reduce its holdings......"

Before Senna could finish his ramblings, he was interrupted by a roar from Mygo-Jackson, "What do you want to say, Rory?" We now have a holding cost of $4.90 per share, how can we let the stock price fall at this time? Do you not buy it? Is it someone shearing my wool or is it our Goldman Sachs shearing our opponent's wool? ”

"Boss, perhaps, our reverse selling, will change Merrill Lynch's trading strategy? After all, the other party's shares in Saturn are more than four times that of ours, and it is the other party that suffers more losses from the decline in stock prices than us! Goldman Sachs' female assistant's words made Mai Gao-Jackson stunned, and Senna glanced at the female assistant on the side, and then said, "I think it's okay, even if it's a test plate, let's throw 1,000 shares out to try the plate?" ”

"Alright! I give you a chance to prove yourself by informing the market to start selling 10 million shares at the current price of not less than 4.50, no, 5 million shares of Saturn Automobile, and in addition, the sales department will now stop continuing to lend securities to customers......"

Goldman Sachs Investment Department backhanded out 5 million shares originally just to test the market, but the rumors of long Goldman Sachs changing hands and selling short quickly spread throughout the market, and the short-term funds have joined the ranks of short selling Saturn Motors, and the market traded 25 million shares within half an hour, and the stock price of Saturn Motors fell directly below $4 before closing...... In the last half hour, Meilin Securities sold at least 10 million shares! Goldman Sachs Investment Department was completely dumbfounded!