On December 6, in the context of the worsening financial crisis in South Korea, Hanla Group, the 12th largest company in South Korea, declared bankruptcy, unfortunately becoming the eighth major chaebol to declare bankruptcy this year.

At the same time, the trading of the shares of four listed companies under the Hanla Group on the Seoul stock market was also suspended, and the shareholders lost all their money. Although the Bank of Korea announced on this day that the first tranche of funds provided by the IMF had arrived, the news did not boost the market in the slightest, on the contrary, due to the bankruptcy of the Hanla Group, investors' confidence in the Korean stock market and foreign exchange market fell back to the freezing point.

Although this is a separate affair and the Hanla Group is no longer the only group that declared bankruptcy, the market has expressed serious concerns about the contagion of the financial crisis in South Korea. In addition, there is a rumor that Korean banks have generally started borrowing dollars from banks in other parts of Asia, including Hong Kong and Singapore, due to difficulties in borrowing dollars. The Bank of Japan's one-month U.S. Offered Rate has risen to 7.2%, which is 1.2% higher than the current U.S. dollar Offered Rate, while the Bank of Korea has shouted an ultra-high 8% Abortion rate, but even so, interbank lending to the Bank of Korea is still difficult.

Under the interaction of the two, the won fell 3% today to close at the level of 1297.8 won per dollar, approaching the 1300 support mark.

"Fortunately, I didn't fall into the trap, otherwise today's 3% would have become someone else's profit!" After reading this day's market, Ren Ruowei still didn't understand what was going on, and wiped the cold sweat on his forehead. I was glad again and again.

Yesterday's rumors in the market and the situation on the market once made Ren Ruowei have the illusion that he can close his position at a low level, just when he was about to enter the market in a big way, he received a call from Zhong Shi, in which Zhong Shi only lightly told him that the financial crisis in South Korea is far from over, and these rumors are very likely to be a trap designed by the institution that knew in advance that there would be a company that declared bankruptcy today. Ren Ruowei decisively stopped at a critical time, which avoided a possible major loss.

Things have developed to this point, anyone can guess that Zhong Shi also has a related internal response in South Korea, but Ren Ruowei is very knowledgeable. I didn't plan to ask that. His eyes rolled for a long time. asked another question in his heart: "Zhong Sheng, who set the trap this time?" It's so ...... It's insidious! ”

Zhong Shi touched his nose, his expression a little embarrassed. In fact, if he had gotten the news earlier, he might have set a trap in the market. Deeply lassoed some of the people who were in the middle of the meter. And then use it to make a lot of money. After all, it is the juncture when the IMF and the South Korean government reach an agreement, and it is almost impossible to believe that a little bit of manipulation on the plate at such a time is a situation that people can't help but believe.

However, the look of embarrassment on Zhong Shi's face was only a flash. Soon he regained his composure and said calmly: "What is this? Isn't this kind of trick common in the capital market? Aren't all the stock commentators who make a big splash on TV every day use this trick? After advocating that a certain stock will rise, and then pulling up a few prices to make people see the tangible benefits, attract funds to enter the market, and then gradually sell the positions that have already been established. The trick is very old-fashioned, the difference is just that what happened yesterday is a big game, and they continue to be bearish and increase their chips. ”

Ren Ruowei thought about it carefully, nodded involuntarily, and agreed with Zhong Shi's analysis.

Seeing that he had no objections, Zhong Shi continued to analyze: "To be able to set up such an institution, first of all, the amount of funds is large enough, so as to attract the attention of the market. Second, they have access to extremely accurate information. The last point, and the most important point, should be that they want to deceive foreign investors, institutions that are also short the Korean won, because the local institutions in South Korea have at least heard of the so-called Hanla Group's predicament, and the participation of domestic financial institutions in the foreign exchange market has obviously declined a lot recently, which basically cannot satisfy the appetite of the players. ”

"Judging from the above points, the number of institutions that can meet these requirements is not very large!" Speaking of the most reluctant, a sneer appeared at the corner of Zhong Shi's mouth.

"You mean?" Ren Ruowei blinked quickly, looked at Zhong Shi's expression, and carefully calculated in his heart, before boldly saying, "Is it a quantum fund?" According to Zhong Sheng's logic, it seems that they are the most suspicious! ”

"Who knows!" Zhong Shi sighed, patted Ren Ruowei's shoulder, and said earnestly, "If you want to live in this market for a long time, you have to pay more attention to news and details than others. ”

Ren Ruowei nodded heavily, thoughtfully.

……

"Spotted?"

Julian Robertson, who was checking his email in his office, was stunned and looked at Billy suspiciously. Jin Liang's eyes, after being sure that it was correct, he patted his head in annoyance, and asked in an unkind tone: "Is there no gain at all?" ”

"It's not that there is nothing to be gained at all!" Seeing Julian Robertson's expression, Billy. Jin was confused, and after quickly organizing some words in his mind, he replied cautiously, "Except for a big fish that slipped through the net, the other predetermined targets were basically caught by us." ”

Hearing that it was not for nothing, Julian Robertson's face was obviously much better, but then he remembered that Billy. When Jin said this, he frowned and asked, "Big fish?" What big fish? ”

Billy. Jin touched his nose and said with some embarrassment: "Originally, according to the strategy we designed before, after making the illusion that the long and short sides are fighting hard, those institutions that are eager to close the position will enter the market to buy the Korean won, and then we can make a lot of money." It's just that in the process of pulling up before, a large institution of unknown origin emerged, and ate our $50 million spot sale in one go. According to our analysis at the time, those few companies simply did not have such a large financial resources to swallow our bait, so everyone agreed that we should focus on luring this agency, but it was ......"

"It's just that they weren't fooled later?" Hearing this, Julian Robertson still didn't understand. It must have been that the agency never showed up again, and their group of people did useless work.

Billy. Jin nodded with a bitter face and said, "Our plan is seamless, and the ones that were originally targeted are unaware, and some people have even emptied their short positions in Korean won. It's just that I didn't expect this agency that suddenly appeared to be so cunning, and I don't know if Lu Dao knew the news in advance or was aware of our intentions, in short, they were not fooled. ”

"I know it!" After shaking his head, Julian Robertson was also helpless, but since the established policy had been completed, he couldn't blame anything. Just said lightly. "Let's go down and do things. I'll let you know when the time is right. ”

Billy. Jin Rumeng was pardoned and quickly exited the boss's room. After going out, he had time to wipe the sweat from his forehead. Recently, the big boss suddenly had a bad temper. Talking to people is almost always a loud attitude. This puts a lot of pressure on the people below who do things, Billy. Kim is no exception.

Yes, this won trap was laid out by the Tiger Fund. After receiving that domestic companies may declare bankruptcy one after another. Julian Robertson had the idea of a way to trade the false news for more positions, because there was no liquidity in the market at this time, and he set his sights on the institutions that followed him.

He felt no guilt at all for this kind of behavior. You must know that these people are following behind him, and so far, at least they have earned more than 30% of the exchange rate difference from the Korean won, and even if they throw it now, it is a situation where they are in the pocket, and they have nothing to lose. The Tiger Fund may take the opportunity to absorb their positions and build a larger short position.

Although he didn't catch the big fish that accidentally broke into the net, Julian Robertson was quite satisfied that he had achieved his goal. Just as he was about to go home, suddenly a ticking sound came from the computer, and Julian Robertson took another look at it and found that a new email had arrived.

Prompt processing of work is Julian Robertson's strength, and it doesn't take long. Julian Robertson sat down again, clicked on the email, and found that it was from Rodney. Jones, the chief economist of Quantum Fund Asia who unwittingly became the "internal response" of Tiger Fund, Julian Robertson's expression immediately became solemn, and he carefully read the email word by word.

"Oh God! What are they doing here? After reading the email in its entirety, even those who knew as much as Julian Robertson could not help but gasp, hardly believing what they were seeing.

……

A little ahead of time, since learning from Susilo that the rupiah may lose support, Rodney. Jones eagerly reported the matter to his boss, and the following day, trading volume in the rupiah market skyrocketed, reaching a staggering hundreds of millions of dollars. Rodney. Jones thought it was the Quantum Fund that was emptying some of his positions, and he was very happy.

Since I have come to Indonesia, I naturally have to do some more due diligence. Although it has the internal response of Bank Indonesia, Rodney. Jones did not pin all his hopes on his old classmate, and in the past few days he has frequently wandered the streets and alleys of Jakarta to inspect the operation of the real economy on the spot, and has also carried out frequent exchanges with economists from various securities companies, trying to grasp first-hand economic data.

After some investigation, Rodney. Jones was also shocked by what he saw and heard, Indonesia's real economy has been damaged far more than previously reported, and in addition to the financial system, most of the private banks are insolvent, and even some state-owned banks have suffered from liquidity confusion due to the run.

Although it has not yet reached the point of economic crisis, there is a situation of panic everywhere. The Indonesian government has done almost nothing, and it is not known what they have done with so much relief money. In addition to these, there are frequent rumors that Suharto's time is running out and that the government is corrupt, which has also caused some extremely wealthy families in Indonesia to quietly transfer funds, and the exodus is quite serious.

On this night, Rodney. Jones's old classmate and Neying quietly came to him again, and the two of them made an appointment to meet in a remote café on the streets of Jakarta. Susilo specially chartered a private room, and after making sure that there was no suspicious situation around, he told Rodney. Jones's specific location.

The place is remote enough for Rodney. It took Jones an hour and a half to find this place, and when he saw Susilo cowering, he couldn't help but complain: "Dear Tiral, can't you just change the place where you can find it?" Look here, it's so remote! ”

"Calm down!"

Susilo looked left and right to make sure that no suspicious person was following, and then lowered her voice to Rodney. Jones said: "I got a document that was so shocking that I thought you should look at it. (To be continued......)

PS: Thank you very much for the awesome and invincible Flying Dragon King's tip!