"Are you sure it's an agency?" After going to work during the day, Billy. Kim reported the situation to Julian Robertson for the first time, and the "tiger" pondered for a moment before asking with a frown.

"You can't go wrong!" Billy. Kim's head was like a chicken pecking rice, "Each purchase is 2 billion won, and when one is over, I don't seem to care at all about the price rebound or the market's attention, this kind of obviously provocative transaction can be seen by anyone with a little trading experience." ”

Julian Robertson was silent for a moment, touched his hair and thought for a long time, and then said slowly: "It shouldn't be the Central Bank of Korea, they are now too busy to take care of themselves." According to you, they sold at least a few hundred million dollars of positions. But if it weren't for the Central Bank of Korea, then there would be only a handful of people with this financial resources, could it be that they are currently bullish on the won? ”

"It's also a possibility!" Sneaking a glance at Julian Robertson and seeing that "Tiger" didn't perform, Billy. Kim reassured and boldly continued, "Maybe they are also shorting the won like us, and according to their operations in the market, it can be determined that the other party has thought that the won has fallen to the bottom, and now the behavior is to close the position at hand." ”

Pause, Billy. Kim continued: "I just thought about this possibility, so I didn't eat more won positions." After all, if the other party is a character with hands and eyes to the sky, and knows something that we may not know about the way, then we are passive. ”

"Passive?" Julian Robertson snorted disdainfully. Tiger said with a face, "You should know the average price of our position, due to the lack of preparation before, we still have about 1,000 billion won on hand that have not been sold in time, and now there is a huge buyer in the market, how can we let go of this opportunity?" ”

"But...... But now that the won is approaching the 1600 to 1 level, I am worried that if I continue to short at this level, the profit margin is not very large. "Billy. Kim said worriedly.

If Tiger Fund also sells KRW at this time, on the one hand, it will pull down the average price of all positions, and on the other hand, because the KRW will fluctuate too much. In the event of a rebound, it is likely to squeeze their previous profit margins. Although there is a disagreement with the big boss. I also hold the idea that more is better than less, but Billy. Kim still persuaded more.

Julian Robertson's face sank, his expression was a little displeased, and he looked at Billy with deep meaning. Kim at a glance. After a while, he said slowly, "Don't worry." I'm measured. It won't be a few days. There will be bad news coming from the South Korean side, and the current crisis has not yet passed. ”

After being glanced at by Julian Robertson with displeasure, Billy. Kim's heart was tense to the extreme. I'm afraid that this boss will have some misunderstanding about himself, after all, his Korean identity is there. With fine beads of sweat out of Julian Robertson's office, he still looked lost and depressed, until he walked a long way, he came back to his senses, carefully remembered Julian Robertson's words just now, only then did he realize that his boss had already made arrangements, thinking about his ridiculous worries, his mood became happy, humming a brisk melody back to the apartment to rest.

……

On December 12, a South Korean foundation civil society and some members of the National Democratic and Korean Unification Alliance Party rallied in Seoul to demand that the government start new negotiations on a $57 billion bailout package with the International Monetary Fund. They see the bailout package as a naked "humiliation" that South Korea has lost its economic autonomy in the face of the International Monetary Fund, led by the United States and Japan, and that the South Korean economy has become a vassal of foreigners.

In addition to the demonstrations, the leaders of these groups issued public statements calling for punishment of President Kim Yong-sam and his administration, declaring "relentless resistance to the agreement reached between South Korea and the International Monetary Fund" while protesting against the use of the IMF by the United States and Japan to carry out "economic aggression" against the South Korean economy.

The number of these people is not very large, only a few about 30, but the impact on the market is like a nuclear bomb. Analysts believe that this may be a test by South Korean political groups, with the ultimate goal of taking advantage of the election to completely repudiate the Kim Yong-sam regime. This concern eventually sparked widespread concern about whether South Korea's new cabinet, which is about to go ahead with the general election, will continue to deliver on the agreements reached so far, and in this case, the won naturally plummeted again.

Just 4 minutes after the opening of the day, the won fell by 9.9%, and the market was full of selling, and almost every second the won was refreshed against the US dollar. Just when it was close to the fall limit, Zhongshi made a decisive move and began to buy on a large scale at the 1720 level.

After tens of billions of won bought into the market, the decline of the won was stabilized, and after watching the real-time exchange rate on the screen no longer continue to fall, Zhong Shi had time to wipe the cold sweat on his forehead, and secretly said in his heart that it was dangerous.

"A small group of dozens of people can create such a situation, and it seems that investors' confidence in the won has really fallen to the bottom, and it is not an exaggeration to describe it as a rumor!" After taking a long breath, Zhong Shi's face still had a palpitating expression, "But this news is very strange, it doesn't come sooner or later, but it broke out at this time, is it really a coincidence?" ”

Thinking of this, Zhong Shi immediately couldn't sit still, and after instructing the traders to stabilize the market, he quietly returned to the office, touched the phone and dialed a number starting with 0082.

"What? You don't know the way? ”

“……”

"It seems that someone with ulterior motives is doing something wrong. The other party is still very hidden, according to your judgment, who is the most likely? ”

“……”

"Not him? It wasn't him, which was really surprising to me. Have you made any recent moves from the Bank of Korea? ”

“……”

"What? Is he crazy? They actually want to resell dollars at this time, where did they get the capital. Could it be that the misappropriation of IMF funds is not possible? ”

“……”

"Don't worry! $1,000,000 has already been deposited into your Swiss bank account. As long as this week passes, we will never be in touch again. No one in this world will know the secrets of you and me, so don't worry. ”

“……”

With a beep in the microphone, Zhong Shi's face immediately became gloomy, and after a long silence, he came up with a possibility.

"The other side is going to continue to short, not giving the South Korean side a chance to breathe at all. This move should have been prepared a long time ago, maybe it was because I saw my large-scale liquidation yesterday, so I couldn't wait to throw it out, and the target was me! ”

"Hmph. Do you really think that the won can fall to 2000? Dream on! A bunch of insatiable guys. Since you want to play, then I'll play with you! Thinking of this, Zhong Shi's face showed a fierce look, and he looked like he had a chilling feeling.

……

"Boss. The other party has appeared again! ”

The night was not as usual for Julian Robertson. Go home in the evening. Instead, he stayed in the company with the evening traders, keeping an eye on the changes in the market.

When the won was about to fall to the pause position, tens of billions of won of buying suddenly appeared on the market. The surging selling orders at the bottom stopped the downward trend of the won at once. Julian Robertson leaned in front of the screen, and after looking at it carefully, he determined that each lot was a buy order of 2 billion won, and a dozen lots were thrown at a time, and in addition to passing through the market, the trader who operated by the phone also confirmed the news.

"Okay, since you're so optimistic about the won, then I'll sell it to you and see how much you can eat!" Julian Robertson was naturally overjoyed. Now the big buyers who are emerging in the market can not only digest the spot won he borrowed before in the short term, but also indirectly give themselves a part of the exchange rate profits, which is a good thing that cannot be found with a lantern.

The problem now is that there are too many selling orders in the market, and if they don't take the lead, then these buying orders may be absorbed by other sellers, so Julian Robertson didn't have time to think about it, so he ordered traders to quickly sell off the KRW spot on hand.

The two institutions began to collide again on the won, this time on a much larger scale than the previous day, and the intensity was much more ferocious than before, and the two sides began to buy and sell frantically at the 1715 position, with the amount of funds both in the amount of 1 billion won.

Soon, this heated exchange attracted the attention of the entire market, and traders put down what they were doing and began to pay close attention to the engagements between the two sides. It's not good to keep going, because this level of trading can wipe out their buying or selling almost instantaneously, so it's very difficult for them to have a chance until the two sides come to a life-or-death outcome.

As for the identity of the two parties, it has also begun to be widely speculated by the market, some people say that the buying party is the Bank of Korea, and some people say that it is a hedge fund that took the opportunity to close the position, which is very likely to be a quantum fund, a tiger fund, etc.; There is a wider speculation about the identity of the selling party, among which the Quantum Fund, Tiger Fund, etc. have been shot again and have become the object of heated discussion.

In any case, before the winner is decided, other traders will not easily bet, and the result is a situation in which two institutions are fighting, and others are either watching from the sidelines, or taking advantage of the two sides to fight, and secretly use ultra-short term to make a small profit in the place where the two sides are seesawing.

In this way, Tianyu Fund and Tiger Fund launched a big fight without knowing each other, one bought won because they wanted to close their positions, and the other sold won in order to establish more short positions in South Korean won.

After fighting for most of the night, Julian Robertson was shocked that the other side had been buying, and the price remained between 1715 and 1720. Although the two sides were fighting fiercely and were evenly matched, he knew very well that for a period of time, he deliberately slowed down the speed of selling the won spot, hoping that the other party would be able to jump out, but the other party did not accept this move at all and was still hovering in this range.

At that moment, he immediately understood that the other party was indeed not a Korean bank that was on the side, but most likely a hedge fund that closed its position. As soon as he thought of this, he immediately made people slow down the momentum of selling. However, the rest of the market did not know about this situation, and when they saw the decline in the amount of money on the selling side, they thought that they had an opportunity to take advantage of it, and immediately flocked to the market and put out a list of sellers, quickly filling the gap given by the Tiger Fund.

At this time, the most shocking scene for Julian Robertson appeared, the other party did not give in the slightest, and even didn't care who the other party was, still frantically swept into the won spot in the previous range, and there was a great posture of being the enemy of the entire market.

"Let's stop selling!" After looking at it for a while, Julian Robertson gave the order to terminate the transaction with a bitter face. The situation is stronger than people, and through this comparison, he was surprised to find that the other party's financial strength was not below him, which made him begin to doubt whether his previous judgment was correct.

"Could it be that the Bank of Korea is not willing to be lonely and intervenes in the market again?" (To be continued......)

PS: Thank you to angel-steel, let me think about it, Xiao Yuting, Dai Qing, hsiaocr and other book friends for voting for the monthly ticket! Thank you book buddy book awesome for another tip on this book! Thanks to angel-steel for voting for the review! At the end of the month, it's the last day.,I hope that book friends with tickets can support it at the most.,Thank you~.