"We lost all our positions!"

Rodney. Jones walked up to Soros and said with a solemn face. After thinking about it, he added, "Maybe we may have more to lose!" ”

"That's why I'm scanning around 300 euros!"

Soros's face trembled slightly, and the corners of his mouth slanted upward, revealing a trace of disdain, "Only by dispelling the luck psychology of the bears can we achieve the psychological prediction of the bulls as soon as possible, and only by letting the bulls ship, can we make up for the losses as much as possible!" ”

"If I'm not mistaken, by the close of trading tomorrow, the Volkswagen Group's share price will be much higher than it is now." Soros continued to sneer and said, "There is no need for any luck at this time, since they don't know the situation clearly, let me help them understand." ”

It is also a blessing in disguise, because the number of short positions is too large, which makes Soros realize the real situation of this long short force: even if the bulls sell all the shares, the bears in the market will not be able to close all their positions. Theoretically, the encounter was an infinite loss, which made Soros calm down and carefully calculate the strategy of closing the position.

The asymmetry of information allowed him to inadvertently grasp a lot of advantages, and at the same time coaxed up the price of short liquidation, but in Soros's calculations, the final liquidation was much higher than the current price, so even if the quantum fund lost a lot of money, he didn't care at all.

"It's almost time, let the news out!"

For all this, Rodney. It's hard for Jones to understand that he's been away from the first-tier market for a long time. Naturally, it is impossible to concentrate on the study of theories as a generalist like Soros. However, he is a person with strong executive ability, after hearing Soros's words. With a straight face, he glanced at the traders.

Soon traders began to call around.

……

At this time in the Frankfurt market, Volkswagen Group's stock trading has become the focus of the entire market, and the soaring rate of more than 100% not only stunned the traders on the floor, but also made the investors who watched from the market speechless. And the rapid increase in the volume of 400 euros shocked them, and called the whole market crazy.

But at this time, a piece of news from an unknown source suddenly circulated in the market. It has added fuel to the fire of this frenzy and made the market even crazier.

It's just that this news is downright negative for the bulls.

"Porsche AG will take advantage of the current high share price. Take the opportunity to reduce its stake in the Volkswagen Group by 5%. When the time is right, they will make a margin call, and in the course of doing so, they may make tens of billions of euros in profits. The reduction proposal is said to have been submitted to the Frankfurt Stock Exchange. The aim is to clear the suspicion of insider trading. ”

Blockbuster news. Absolutely nuclear bomb-level news.

For the bulls, if they are not able to sell at the high price at this time, then the market price will definitely fall immediately as soon as Porsche's reduced stock appears. So without being confirmed, they began to sell their shares like crazy.

For the bears, this news strictly contradicts the Porsche Group's previous intention to force more shorts. But when they thought about the real intention of the Porsche Group, which was to annex the Volkswagen Group, it all dawned on them. Forcing short is just driving away the vultures of the market. It is not possible to really bring yourself a cash profit, in this case to put out a part of the chips. It is not only good to sell vulture funds, but also to allow the Porsche Group to get a lot of cash from the stock market for acquisitions, which is simply killing two birds with one stone.

This is extremely important news for both long and short periods. This "importance" is reflected in the market, and the immediate reaction is that the number of sellers has risen sharply, while the number of buyers has become very few, and the share price of the Volkswagen Group has fallen almost at a rate of free fall.

The situation is reversed, and the changes are dizzying.

"What happened?"

Allan. Howard was also dumbfounded, this kind of sharp rise and fall of the market made him feel frightened, this was a long-lost feeling, which made him feel extremely uncomfortable, "Where did this news come from?" Is it reliable or not? ”

"I can't be sure of the authenticity of the news for the time being!" James. Whitehead calmly analyzed, "However, the increase in the number of sellers is a good thing for us anyway, so it is better for us to take the opportunity to buy and close our positions as soon as possible." ”

At present, there are only two ways in front of most hedge fund managers, the first is naturally to take advantage of the current volume trading, close the position as soon as possible, and completely admit defeat and leave the market. The second is to wait until the Porsche Group releases its chips, and although the market price will be high, it will never be as outrageous as it is now, and it will not be too late to close the position at that time.

The difference between the two is the amount of losses, and the uncertainty factor is whether the news is true or false. At such a time, the test is the overcoming of nature, that is, how much rationality can be left in the face of great interests. In fact, according to hindsight, even the best investors still struggle to overcome greed and luck at this time.

Allan. Howard is no exception, "Don't worry, let's take a look first and wait until the market changes." Let the traders hang up the buy orders and eat them at any time. ”

In the middle of that, the Volkswagen Group's share price has fallen to 340 euros, a full 60 euros, and this plunge has only intensified the panic of the sellers. At one time, a large number of sell orders were piled up in the sell column, and the number reached a staggering 2 million to 3 million shares. In the buy column, there are only 400,000 to 500,000 shares, which is seriously disproportionate.

The market situation reversed, and the Volkswagen Group's share price continued to fall, soon approaching 300 euros. At this time, there were close to 5 million shares of sell orders in the sell column, and there was no pressure to break through 300 euros, but at this moment, the change was abrupt, and suddenly a buy order of 3 million shares appeared on the buying side, which steadily supported the downward trend, and then at 320 euros, 330 euros, 350 euros and other prices, large buy orders of more than 500,000 shares appeared one after another, although the price did not rise immediately. But it is unlikely to fall any further.

"What's going on?"

Allan. Howard rubbed his eyes, couldn't believe what he saw, and asked repeatedly. "How can such a large sum of money appear at this point? Don't they want to keep falling? ”

"Hurry up and place the order, immediately!"

James. Whitehead didn't have time to answer his question, but ordered the trader to place a buy order immediately, and then had time to reply, "Boss, we've been scammed." The news just now must be fake news released by big bears, in order to release the liquidity of the market. Close the position at a low price. If I'm right, I believe that the Porsche Group should soon make a move to refute the rumors. ”

"What?"

Allan. Howard sat down on the ground and was speechless for a while.

He figured out the joints in an instant. It also indirectly confirmed the authenticity of the news just now. At this time, his heart was full of chagrin, if he had been more rational just now, he might have closed the position and fled now. And now, he will once again step into the torment of living like a year.

He pounded his head. The level of exertion is staggering. Until James. Whitehead hugged him tightly. He stopped this crazy self-harming action.

It's not just Blevin. Howard Asset Management, and many hedge fund managers, even bulls, were deceived by the news. And when the quantum fund's big buy order appeared, they immediately woke up, but it was too late. The Quantum Fund has already taken over more than 4 million shares of the Volkswagen Group on the market and has re-raised the price to more than 350 euros.

Once again, the market reversed.

The bulls are busy canceling orders again, while the bears are buying like crazy, and both sides are cursing at this guy who is messing up the market. But no one knows exactly who.

The Volkswagen Group's share price soon rose again to 400 euros, unlike the last time it was here. The bulls don't care if the bears lose all their money and go bankrupt, and still don't want to sell the few shares they already have.

The price rose further, soon breaking through 410 euros and showing no signs of stopping.

"Well done, gentlemen."

In the temporary office of the Quantum Fund, there was a cheer. Many traders quickly swept away the liquidity released by the bulls due to panic. Combined with the chips swept at 300 euros last time, the Quantum Fund has closed almost 40% of its positions. Despite the loss, the trader's hard work made the loss much smaller than expected, which is still a significant achievement.

Traders were relieved and smiling. It stands to reason that they are accustomed to trading under heavy pressure, but this time the situation of losing is still unbearable for them. They high-fived, fist-thrown, and shouted loudly at each other to vent their sullen feelings.

Soros complimented everyone with a smile on his face, ordered them to bid freely, and when he turned around, his face had become serious, and there was no smile in it.

"This time we're in danger!" He said lightly to Rodney. Jones said, "As soon as this trick comes out, the best people in the market can basically guess what the situation is." It becomes especially difficult to close the position later. ”

"Anyway, we'll be able to close at least half of our positions!" Rodney. When Jones heard this, he was speechless for a while, and reluctantly said a reassuring word, "We have lost more than 2.5 billion euros so far. Tomorrow it shouldn't be crazy to this point, even if it is doubled, our loss will only be 7.5 billion euros. ”

Rodney. Jones originally wanted to say a little more optimistic, but Soros's brows frowned even higher, "Twice as crazy? This is unlikely. If that were the case, we would most likely lose more than 10 billion euros. My estimate is between 500 euros and 600 euros. Even so, our conservative losses are more than 7 billion euros. In this case, even if all of our profits today are basically filled in, the final performance will be dismal. ”

Because of its participation in shorting several major U.S. investment banks, as well as its investments in indices, CDOs, CDSs and commodities, this year would have been a bumper year. But after this battle, even Rodney. Jones knows he's lucky to be able to reduce his losses to 50 percent.

"Damn the Porsche Group, they are so vicious, I can't imagine it!"

Soros scolded viciously twice, but he was stunned to find that he was not this kind of character in the eyes of others? At the moment, he kept his mouth shut and did not continue.

At this moment, the trader shouted: "The Porsche Group has made a statement!" ”

With half an hour left in the trading hours, the Porsche Group posted a statement on its website in which it sternly denied the rumors and said they reserved the right to hold the rumors legally responsible.

As soon as this statement came out, the Volkswagen Group's share price rose uncontrollably, and by the end of the day, it had managed to break through to an astonishing 500 euros per share. Calculated from the closing price of the previous trading day, it has risen by more than 200% throughout the day. What's worse is that even though the need for short buying is so strong, most of them still haven't closed their positions.

And tomorrow on the last trading day, they will continue this tragic fight. (To be continued......)

PS: Thank you for the tips of book friends during this time, such as the Demon Dragon War Ghost, Xiaoqi Civilization Miracle, cpower, and blank reading! Thank you to 8112268536, Xiaowu Dad, aassddffxx, Xingzhi0 and other book friends for voting for the monthly ticket! At the same time, thank you to all the friends who voted for the monthly ticket during the holiday! Although there are many speechless in reality, I still have to insist on writing the book unswervingly, I hope that the results of this book will improve, and I look forward to the support of more book friends! For many public chapters that cannot be displayed, and there are still comments that cannot be posted, the author is trying to find a way to modify and solve them...... At the same time, for errors in the content, they will be corrected as soon as possible~