Since 2000, Goodman, Stanley and other most famous investment banks on Wall Street have sent invitations to Tianyu Fund for investor meetings, and they naturally want to work hard to maintain this relationship, so although Tianyu Fund never shows up most of the time, they still happily send invitations to each other, and sometimes even change the rules and actively organize hedge fund groups to raise funds in Hong Kong.

However, there have been many similar invitations, and Tianyu Fund has never shown up with big names, at most they have sent a few analyst-level people to deal with the scene, which makes Goodman and other companies feel very disappointed, but their sales staff do not dare to be careless at all, and still conscientiously launch public relations activities to giants like Tianyu Fund, although their sales have changed one after another.

This time, they also had the attitude of trying it out, and sent an invitation to the Tianyu Fund, who didn't want to really attract a big man, and a legend, Zhong Shi, who was famous even on Wall Street, came in person. Despite the suddenness of the incident, Goodman notified all the hedge funds that were interested in raising it as soon as possible, which also made their investor meetings more popular than ever.

"Mr. Zhong, it's nice to meet you, it's just that I have urgent matters to deal with now, so I'm sorry."

Nick's face was cloudy for a long time, and finally he sighed, said to Zhong Shi apologetically, took out a business card from his arms, held it in both hands and respectfully sent it to Zhong Shi, "Mr. Zhong, this is my business card, the door of the Withering Fund is open for you at any time." ”

After making this solemn statement, Nick hurried away amid everyone's surprised gazes.

After a slight glance at this business card, which is the envy of many people. Zhong Shi casually tugged it in his arms, then waved his hand at the group, signaling the next person to come over.

……

It was already raining heavily outside, and the driver greeted him with an umbrella and asked tentatively: "Boss, driving in this weather is a bit dangerous, should we find a place to live first?" ”

"It's too late!" Nick frowned and walked straight towards the Mercedes, saying as he went, "Something's wrong." I need to go back and deal with it urgently. Thank you for your hard work. ”

The driver nodded expressionlessly, silently sent him into the car, then silently got on the car, started, and then the Mercedes slowly slid out in the pouring rain.

Just ten minutes after the trade ends. Bond. Hunt's Ferrari roared out of the office building. Make a beeline for the airport. There was a private jet waiting for him, a non-stop flight to Greenwich.

After such a big disaster, Hunter knew it very well. This matter is no longer something that I can settle by myself, and the risk control side of the headquarters must have discovered the corresponding situation, and I must go back to give an explanation to all parties as much as possible, and discuss how to clean up the mess by the way.

Not only him, but all the partners and senior management of the Withered Flower Fund were urgently recalled to Nick's home in Greenwich, where they were to discuss how to deal with the matter.

Some people will say that it is only a loss of 640 million US dollars, and it is impossible to make such a move, after all, the withering fund manages close to 10 billion US dollars. However, this is not the case, because of leverage, the total value of this part of the position is actually tens of billions of dollars, and if it continues to lose money, the withered fund will be unsustainable, at least in terms of cash.

The most important thing is not that the broker is calling for margin, but that once the news leaks out, traders across Wall Street will rush over like sharks smelling blood and take a bite of this huge position. This is what the top management of the Withering Fund is most worried about.

In a detached house in a wealthy area on the outskirts of Greenwich, three or four middle-aged men in suits and leather shoes sat on sofas, leaned against the window, or stood with their hands crossed on their hips, in different postures, but each of them had a sad face and was not interested in talking.

On the coffee table in the middle of the living room was a large seafood pizza and dozens of cans of beer, which were their dinners. But no one was interested in touching the fragrant pizza, they were all gulping beer, and some had already lit their cigarettes, and before long the whole living room was in shambles.

As the mistress of the family, Linda. Mahoney had taken refuge upstairs early, despite the fact that Nick. Mahoney didn't say a word to her, but when she saw so many colleagues gathered at her house, she had a gut feeling that something big must have happened.

At eight o'clock in the evening, Bond. Hunter finally arrived from faraway Canada, and after glancing at the dead silence of the living room, he tore off a piece of pizza and devoured it. Strangely, several other people didn't see this situation, and didn't even bother to say even a word of greeting.

At half past eight, Nick's limousine finally drove back from New York, and as soon as he opened the door and took off his trench coat, he saw several partners with sad faces, as well as Bond, who had just filled his stomach and was hiccups. Hunter.

"Tell me, what the hell is going on?"

Nick slammed himself onto the couch, pulled a Marlboro from the table, snapped it on fire, took a deep breath, and asked with a grim face.

"The position is huge, the margin is already in jeopardy, and the broker called and urged us to call the margin." Bond. Hunter took a sip of beer, Heineken beer was not to his taste, which made him frown unconsciously, "Now I have no liquidity on hand, and all the current positions are in the red, not only in the far month, but also in the near month, basically all the extra margin is invested." ”

Although he was very angry in his heart, and even wanted to beat Hunter up, Nick knew very well that this would not solve anything at all, and after thinking about it, he said, "What if you close the position? What happens when the position is closed? ”

"It can't be!"

Hunter's hand shook, and the can fell directly to the ground, and suddenly the white foam was scattered on the ground, and he didn't care about cleaning. He hurriedly said: "All the positions we currently hold that have not been closed, although there are losses, but if we close the positions rashly at this time, it will definitely cause a big fall, and then it will be more than this money, it is simply a blatant admission of defeat to the market." ”

"So until the last resort, we must not close the position, otherwise the consequences will be more than ten times stricter than now." Finally, Hunter said categorically.

"So......" Nick's brow was already raised, "on the one hand, we need to raise cash to maintain our positions, and on the other hand, continue to live with losses?" ”

"Nope! No! No! Hunter shook his head. Raising cash to maintain positions is one thing. In addition, sell a portion of the portfolio to generate cash flow and reduce positions to get through this difficult time, so it's hard to say who will win in the future. ”

The others didn't speak though. But the constant nodding of their heads fully indicates that they have fully assessed the situation. At the same time, I think this is the best strategy at the moment. Not one of them.

"Oh God!" Nick couldn't help but hold his head and complained loudly, "How many positions have you really opened?" How can this happen in one day? Also, what is the leverage ratio, and why did the broker notify the margin call all of a sudden? ”

Although he is the founder and senior partner of the Withered Flower Fund, Hunter does not know about the positions of his subordinate portfolios, and these things are all in charge of the risk control department. Hunt's positions are not binding in any way.

Hunter's face was rarely red with shame, and after a moment of silence, he said with difficulty: "At present, the position of each month exceeds 100,000 lots, accounting for ...... ...... of all open interest in NYMEX 40%, I know that's a bit big, and the leverage is also twice that of NYMEX, but ...... There has never been a problem before, though. ”

Although there was no accident before, it does not mean that there will not be an accident in the future, everyone understands this truth, and of course scoffs at Hunter's justification.

"What about you?" Nick drank the beer in his hand in one gulp, slammed the can, glanced at the others, and asked in a deep voice, "Any other opinions?" ”

"It's basically hard!" Leonard, the head of the risk control department. Trellis shook his head and pointed at Bond. Hunter, "He's right, because the position is so large that we basically don't have any possibility of closing it. In addition to continuing to pay margin and maintaining the current position, the most important thing is to reduce this part of the position as much as possible, because our position is simply too large. ”

"So what we have to do now is call the banks or funds that do commodities and see if any of them are willing to take over our positions, even if it's a little bit of a loss."

Leonard is also helpless, although he controls the risk control department, but driven by interests, he and his team can only do anything about Bond. Hunter's growing position chose to turn a blind eye. Because he knows that the other party is the soul and golden sign of this fund, there is no Bond. Hunter, everyone, including Nick, is nothing.

"In addition, it is important to note that this news must be kept absolutely confidential, at least for our opponents, and it must not be leaked. Therefore, there is no need to inform those energy funds, those commodity trading departments of investment banks, those funds that do not do energy, we can all contact, and we must block this news as much as possible, otherwise we will have no way out when the rumors in the market spread. ”

Finally, Leonard added cautiously.

"Don't worry, if it is an investment bank that is interested in buying our position, it will definitely not leak this news." Nick nodded approvingly, then re-lit a cigarette and said, "Also, Griffin of Castle Investment has a good personal relationship with me, and he has always wanted to make a company that surpasses Goodman, and I think he should be willing to help us at least in this regard." ”

"I hope so!" Hunter hung his head and didn't dare say a word. At this time, although he knew that John. Arnold would never tell the outside world about his attempt to sell his position, but he did not dare to let everyone present know that he had made a similar move.

"Alright, let's go our separate ways!"

Once he made up his mind, the sadness and hesitation on Nick's face vanished, and he pulled out his mobile phone from his bosom and dialed the number as he spoke, which was the phone number of a senior partner at Goodman, managing director and head of the commodities trading department.

Seeing this, the others got up and left, pulling out their phones as they went, and began to make appointments with the investment banking departments they knew well, and asked them to send people to discuss the sale of their positions on Saturday of this week, naturally at the offices of the Withered Flower Fund in Greenwich.

At least so far, although the Withering Fund has suffered a huge loss in its natural gas position, they have at least been able to hold it on, because the time is so tight that they can only hope to sell part of their portfolio to survive it. But now the busy people would never have thought that what would happen to them would be a catastrophe. (To be continued......)

PS: Thanks to q66w66, kalm god, wind waiting to moor, snow shadow fluttering...... Wait for book friends to vote for a monthly pass! Thank you for the miracle of civilization of Xiaoqi, a book friend, for giving Lamei again! It's the last day of the month, and I hope that friends with monthly passes can support it again~