In Charles. Winca and Kenneth. In Griffin's mind, the other party's bottom line should be around $1.5 in the price difference, although this price still has an element of fighting with their own side, but it is still an acceptable result relative to the price at which they opened a position. Considering the uncertainties, Griffin deliberately backed down $0.1, believing that the other party should be satisfied with the price.

It's just that after this price appeared on the market, it caused a burst of laughter from Zhong Shi's team, for no other reason, because Zhong Shi has suppressed his own restless forces, and now basically the base fund has lost its bargaining chips. And they are still delusional about closing the position at a higher price, which is a bit whimsical.

"What the hell do these guys have in their heads, do they really think they're the protagonists of the market?" Jiang Shan shook his head helplessly, a hint of sneer appeared on his face, "At this time, it is so naïve for them to think about closing their positions with this price difference. ”

As soon as he finished speaking, there was a fluctuation in the market. On 0703 and 0704, nearly 100 long and short new positions were opened one after another, and the magnitude was almost the same as the beginning of the base fund.

"Look, it's our friends who express their displeasure!"

Looking at what happened in the market, Zhong Shi only pondered for a moment before he understood. Although the forces that are eager to close the position have been subdued by him, they still have the right to say no. It is clear that the act of rejecting the offer of the base fund just now is that they are silently protesting, expressing their dissatisfaction with their offer.

Although Zhong Shi does not need to care about their opinions, it does not mean that they do not have the right to object, although this right is dispensable in Zhong Shi's view. But now that Zhong Shi is thinking about how to reach a liquidation agreement with his opponent, it is inevitable that he will take proper care of them as long as they do not disrupt the overall situation.

"Ignore them and wait for them to quote again!" With a wave of his hand, Zhong Shi asked the traders to stand still and wait for the other party to quote again.

……

"What? They weren't satisfied? ”

Griffin was dumbfounded when he saw his offer devoured. Originally, he thought that he was giving away profits to the other party. Who doesn't want the other party to ignore it first, and then directly open a new position to take all their offers, leaving no love for themselves, it seems that they are very dissatisfied with their own offers.

Griffin was naturally surprised. Then a fury rose in his chest. These guys have gobbled up nearly seven billion dollars from the Withering Fund. Until now, he has refused to give him even a mere $1.3 billion, which is really too greedy. But after the initial irritation, he calmed down again. Because this market is like this, greed is always the best, as long as a little empathy, he will not be satisfied with this price.

Although it was only a concession of $0.1, it was a lot of money to accumulate a huge position, and after gritting his teeth, Griffin said with a bruised face: "$1.35, this is our bottom line, it can't be lower." These guys are so insatiable that we can't afford to give in anymore. ”

Charles. Winka nodded expressionlessly, and at this time he also felt empathy, feeling that the other party was a little aggressive. But what they didn't expect was that in terms of their costs and benefits, they would make a 100% yield in at least a month, which was extremely impressive no matter where they put it. If the other party is insatiable, then they themselves are also greedy to the limit.

Obviously, the signal of the $1.35 spread was put on the market, and it did not make any waves at all, and the other party did not react at all, and the time for subsequent trading was approaching, and the two sides did not reach an agreement.

After the bell opened the next day, the two sides continued to probe, and after a day of calm, both sides had more thoughts on the bottom line price. Soon, the base camp opened a new closing price again, $1.30.

A concession of $0.05 means a concession of $100 million. At $1.30, the profit that the base fund can make on these positions is about $1 billion, which is nearly $300 million less than the previous day, but Griffin is naturally not worried about these, because these are basically enough profits to settle in the future for a period of time, and the difference is only a small amount, which is not worth mentioning compared to the overall number. And in crude oil futures, they are also making a lot of money.

Now, the other party wants to close the position and leave the market, and his own side also needs to settle down and reduce the unnecessary risk caused by market uncertainty, so the possibility of an agreement between the two parties is very high, and Griffin is full of confidence in this.

Griffin has his own considerations for conceding back $0.05 again, and since the other party does not accept his offer, it doesn't matter if he backs down again. Although he was furious yesterday, after thinking about it, he realized that even making $500 million would be enough to satisfy him, because it was almost a perfect opportunity to fall from the sky, and being caught by him was no different from picking up money on the ground.

However, Zhong Shi did not think so, and the $1.20 spread was his psychological expectation. Just as he was about to ignore the other party's offer again, a phone call came unexpectedly.

"Hello Mr. Chung, I'm John of Paulson Fund. Paulson, I'm sorry to disturb you, but I have good news for you here! ”

The phone is the future "king of money" John. Paulson called, and after Zhong Shi invested in his fund, the "money king" paid close attention to the super customer's information, and after Zhong Shi appeared in the American media in a grand manner, he was even more convinced that the other party was his own owner. However, before he didn't make a performance, he categorically didn't dare to call this big customer, and now he dares to call, which naturally means that there is good news.

"Really? It's a good day, it's really exciting. Zhong Shi's heart moved, and he walked quickly to a place where no one was, and only after all around him was quiet did he whisper, "Is it about the mortgage securities market?" If there's any good news, I'm interested in that. ”

"Yes sir!" With a rare moment of humor, Paulson said, "Now the prices in the CDO market have started to slowly decline, and in their related markets, the prices of CDS have started to rise, because the mortgage default rate has risen slightly this month compared to last month, so the prices of these products have fluctuated." And we've made a profit in our portfolio, and even though it's not a lot of money, it's a good start, isn't it? ”

"Wow, that's great news!" Zhong Shi was a little disappointed when he heard this, but he didn't want to discourage the other party's enthusiasm, so he said lightly, "This is indeed good news." But according to your estimates, how much more time will there be if there is a large-scale default on home loans, which in turn affects real estate lenders, insurance companies and even intermediaries? ”

Perhaps hearing the flatness in Zhongshi's tone, Paulson secretly scolded himself for being reckless, and after trying to calm down his mood, he replied carefully and carefully: "Sir, this is not a good assessment. If something like this happens, it will be a catastrophe for the world's financial markets, but if the current environment does not improve in any way, I think it will be possible in six months to a year. ”

"That's the case, then let's keep in touch!" Zhong Shi scratched his head, secretly feeling a little funny, in the face of the future capital redistribution feast, he was still a little unable to hold his breath after all, and he still needed to consult the "king of money". After hanging up the phone, he thought about it and decided that it would be better to cash out all his assets as soon as possible.

"$1.30, we accepted!" Far away, he shouted at the country.

……

Although the Sagittarius Energy Fund still has different opinions, an agreement was reached between the biggest bears and bulls in the market. Arnold had no choice but to close their position at this price. After spending more than a month, the three parties finally flattened this huge burden or threw it to those institutions that were ready to do short-term work in the coming year.

In this four-month-long campaign to encircle and suppress the Withered Fund, the real war only took place in September, and after the loss was exposed and became the target of the entire market, the Withered Fund quickly declared its collapse. Then there was the question of dealing with the aftermath, which took a lot of time, but was solved perfectly.

In the whole incident, Zhong Shi and Hu Ping's team emerged as the biggest winners, earning $2.5 billion in this offensive, in addition to the more than $500 million that was ceded to the base camp fund. The Sagittarius Energy Fund, one of the masterminds behind the scenes, also earned close to $1 billion, and the base fund, which also took over the Unwilted Fund, also earned close to $1 billion in profits. These three companies earned about $4.5 billion, accounting for more than 70% of the entire market liquidity in this incident.

After receiving a share of $300 million, Hu Ping peacefully parted ways with Zhongshi. He is going to set up his own hedge fund, and the remaining $2 billion or so is left in the United States by Zhong Shi, which is about to be invested in the future collapse. (To be continued......)