"Ladies and gentlemen, thank you for coming!"

Boaz. Weinstein began his speech on the stage, "In the next time, I will tell you comprehensively and honestly about some of the excellent investment opportunities that I have found in the market. ”

It's been a week since Bloomberg, the Wall Street Journal, and the Financial Times broke the news that the CDX market had been rigged. Although the news caused a stir within a certain range, it made Boaz. Weinstein despaired that the situation in the IG9 market has not improved significantly, and the spread between the five-year and 10-year contracts is still slowly widening.

Originally, it was intended to force the biggest "pick-up man" in the market to make a move, but the other party seemed to be indifferent to this, which made Boaz. Weinstein was frustrated.

Of course, he didn't gain nothing. Since the news spread, the credit derivatives market has begun to investigate the true identity of this big bank. Eventually, they came to the conclusion that JP Morgan's London Investment Unit was likely to be the ultimate culprit in manipulating the market.

None of this work, Boaz. Weinstein quickly went up his sleeve and sent out direct invitations to his peers around the world to join forces in the fight against JP Morgan's team.

So there was this semi-public meeting.

It is unknown whether it was intentional or unintentional, but the venue for the meeting was chosen to be held in a conference room at JP Morgan's headquarters in New York.

More than 300 hedge fund managers and investors gathered to listen to what Ackerman organized for a so-called "seminar."

Being able to go from less than $200 million in capital in a matter of years to billions of dollars in management today, Saba Capital is to some extent a model for emerging hedge funds, although it is still not enough for large hedge funds, but it is sufficient.

Investors from all over the world filled the room. Get ready to hear what this rising star in the hedge fund world has to say.

The meeting was organized by Ackerman, the same Ackerman who was making waves with Bell Stone in the European market. While he was a small and inconspicuous player on Bell Stone's team, Ackerman had an unrivaled reputation among smaller hedge funds.

It was in such a recommendation meeting that he sounded the horn to attack the Kaminari brothers, and since then he has become famous. Become a big guy in the eyes of small and medium-sized hedge funds.

The nature of such a seminar is largely well known to the participants. To a certain extent, they gather their strength and challenge a certain force in order to obtain profits.

All they have to do is find a recognized, profitable direction and pour into it together.

To Boaz. Before Weinstein took office, many hedge fund managers had listened to several speeches, and they were disappointed that those in front of them were not articulate. Either the direction is unclear, and there is no convincing reason to be found.

Just when they were feeling disappointed, Boaz. Weinstein's next words immediately caught their attention.

"What I'm talking about is market manipulation in the credit derivatives market!"

Boaz. Weinstein looked at a few hundred people and said confidently, "I'm sure you've seen the story." Yes, it is the market manipulation of IG contracts that is happening in the CDX market. ”

As soon as these words came out, there was a low buzz from the audience.

Despite the high quality of the attendees. There was no loud conversation or noise, but hundreds of people whispered. It still converged into a big voice.

Nodding in satisfaction with the reaction of the venue, Boaz. Weinstein clicked on the prepared PPT, coughed lightly, and began to say aloud: "I believe that everyone here is like me, there are many people who are doing arbitrage work in the market......"

For the next ten minutes, he arbitraged the space between the IG contract price and the single CDS price. He talked about the unusual price difference between the five-year and 10-year IG9 contracts, and the anomaly that the two remained the same despite the constant influx of arbitrage funds.

"What is certain is that this market must be manipulated!"

Finally Boaz. "This is the best investment opportunity I've ever recommended," Weinstein said categorically. Purchase an index of a five-year credit default swap with an investment sequence of 9. ”

There was silence in the audience, everyone was thinking silently, and surprisingly no questions appeared.

Boaz. Weinstein was a little disappointed, made a gesture to everyone, and walked off the stage gloomily.

Originally, he thought that there would be a scene of turmoil, but this was not the case. At this time, he was not sure whether his analysis had been accepted by everyone, and since no one had come to inquire about the specific situation, he had to leave the podium first according to the established procedure.

"Boaz, please wait a moment!"

Right here in Boaz. When Weinstein tried to return to his seat, Ackerman, who had been backstage, stopped him, "Well done, Boaz, I have to say your analysis impressed me!" ”

"Really?"

Rewarded by the big guys, Boaz. Weinstein's face finally showed a little smile, "So William, are you going to buy the target I introduced?" ”

"This ......"

Ackerman hesitated for a moment, but finally said the truth, "Boaz, can you tell me who is the institution that ultimately manipulates this market?" Or rather, who do you think is the biggest suspect? ”

"JP Morgan!"

Don't even think about it, Boaz. Weinstein blurted out, "So far, although the big five banks have the possibility of manipulation." But by all indications, JP Morgan is the most likely target of manipulation. They have the most incentive to do so in order to protect their large deposit positions. But in the process of protection, they realized that they could make money by doing so, so they ......"

"That's ......"

Ackerman fell into deep thought for a moment, and then said, "Boaz, you've already fought them on the IG contract. According to your predictions, even if this news leaks out, what are the chances that they will stop it? ”

To put it simply, Ackerman is just a hedge fund manager with less than $10 billion under management, and he wants to go head-to-head with JP Morgan, who has trillions in money. He didn't have any confidence at all.

Boaz. Weinstein immediately understood what Ackerman meant, and he was quite disappointed, but he still said honestly: "Sorry, William, I don't know. I don't know how JP Morgan is doing it, or what their attitude is about it. Here's what I can tell you, though. There is another giant in the market, which is fighting against JP Morgan. ”

"Oh? And such a thing? ”

Ackerman's eyes lit up suddenly, "Where did you get this news from?" Why didn't you say it at the recommendation meeting just now? ”

As soon as he blurted out the words, he realized why Boaz. Weinstein wanted to hide his secrets, and his face immediately turned red.

If Weinstein leaks this news, then in this case, investors will think that someone is behind it and will enter the market unscrupulously, which will inevitably squeeze the profit space of Saba Capital. And keep the message. Even if someone comes in later, based on the sense of risk, it is impossible to be too crazy, then most of the profits in the market will be left to Saba Capital and the so-called big crocodile.

Boaz. This is where Weinstein's selfishness lies. If you believe him, then you can make a lot of money. And if you question him, then you can only pass by with huge profits.

"Do you know who the other person is?"

Coughing vigorously twice to hide his embarrassment, Ackerman continued to ask. "Maybe you have a clue? Is it a large bank like JP Morgan? ”

"I don't know about that!"

Boaz. Weinstein shook his head helplessly. said softly, "The news in the newspaper and today's recommendation meeting are all means for me to elicit the other party." But it seems that there are no super-agency employees today. I'm very puzzled by this, is it that the other side doesn't care about this position, or does they think they have enough ability to fight JP Morgan? ”

"Enough to stand up to JP Morgan?"

This sentence is like lightning in the night. Ackerman, who was in a fog, suddenly opened up, "Could it be ...... Could it be ......," he muttered to himself.

"Do you know something?"

Glancing at Ackerman strangely, Weinstein couldn't help but ask, "Did you think of something?" ”

"Nothing, nothing."

Ackerman's head shook like a rattle. "I just thought of something else that had nothing to do with it. Sorry, I just got distracted. ”

Just a few seconds ago, Ackerman remembered a phrase that Bell Stone had said when he was breaking up, that some super agency was already among his sniper targets. If JP Morgan was Bellstone's sniper target, then the whole thing is easy to explain. Why did Weinstein lure the big crocodile to show up again and again, but he didn't show up.

There is only one answer, and that is that so far, JP Morgan's position has not been able to satisfy Zhongshi's appetite.

Thinking of this, Ackerman couldn't help but shudder, and silently mourned for JP Morgan in his heart.

Boaz, who doesn't know anything here. Weinstein returned to his seat with a slight bow, only to find that the people around him were not listening to what the people on the stage were saying, but were fiddling with their phones.

"What are you doing here?"

Curious, he asked a person next to him who was staring at the screen of his phone, "What's going on?" ”

"I'm looking at the divergence between the IG9 contract and the market price!"

The other party was a middle-aged white man in his forties, and replied without raising his head, and only after a while did he realize that the person who asked did not stop there, so he raised his head and wanted to say something, but when he looked at it this way, he realized that the person who asked him was Boaz. Weinstein, who had just spoken to them on stage, immediately looked overjoyed, hurriedly stretched out his hand, and said, "Fortunately, Mr. Weinstein." ”

"You're saying you're looking at the divergence between the IG9 contract and the price of a single CDS?"

Weinstein politely shook his hand and asked with a smile, "Is that what I just said?" ”

"Not bad!"

Although the other party lowered his voice, his excitement was still overflowing, "If your discovery is not wrong, then there is serious manipulation in this market." For us, this means a lot of room for profit! ”

As he spoke, he pointed around and whispered to Weinstein, "Mr. Weinstein, I can swear to God that at least 80% of the people here are interested in what you have to say." As long as it has been verified, I can guarantee that the referral meeting is not over yet, and at least tens of millions of dollars of funds will enter this market. ”

"Really?"

Looking at the flickering phone screen in the dark, Weinstein grinned silently.

Finally, his purpose was achieved.

……

"Mr. Zhong, is that you?"

In the background Ackerman, wait until Boaz. After Weinstein disappeared, he immediately dialed Zhong Shi's phone, and regardless of the time difference, he asked in the first sentence, "You said that a super agency entered your sniper list, is it JP Morgan?" ”

"What are you talking about?"

Zhong Shi, who was sleeping in a daze, asked a little brain short-circuit for this headless sentence, and asked puzzledly, "William, what are you talking about?" ”

"Here's the situation, at the recommendation meeting in New York today, a small hedge fund found a case of market manipulation, specifically......"

Ackerman crackled a lot, and after recounting what happened here in detail, he asked, "I'm wondering, is the big crocodile in this market you, or after hearing the news, do you plan to enter this market to snipe JP Morgan?" ”

"Does anyone else know about this?" Zhong Shi slammed down on the pillow and asked weakly.

Zhong Shi's words immediately made Ackerman ecstatic, and he said again and again: "No one else will know, I swear in my grandmother's name." ”

Naturally, when he speaks of other people, he is referring to the small team that used to be. And Zhong Shi's words undoubtedly admit that the "big crocodile" is the Tianyu Fund. (To be continued.) )

PS: Thank you for your love of industrial literature and water? Bo, QHIOU, Four-Eyed Prodigal, Crane Xiang Yuntian, and Xiaoyi voted for a monthly ticket! Thank you for the fear of visiting the flower market and the reward of Wong Tai Sin 007! Seeing everyone's enthusiastic support, the author is very grateful and continues to work hard~