Time flies, and two weeks have passed in the blink of an eye.

Wednesday, September 23rd.

Lin Zuhui came to Hengjin Investment early, and the USD/JPY closed at 121 points yesterday and plummeted 2.2% throughout the day, once falling to 120.5 points, which made him overjoyed.

After all, in his memory - the lowest in 1992 was 120 points, in 1993 it was 100 points, in 1995 it was 80 points, and now that he has reached the lowest index this year, what reason does he have not to close his position?

After all, there are still three months to go, and it may rise to about 125 points, which can make a difference, and can also return a large amount of money. Even if it does not rise to 125 points in December, no matter what index, he will take out his funds to short sell again, and next year will be another year of yen appreciation.

"Notify George to close the foreign exchange position?" As soon as Lin Zuhui saw Wu Guoming, he asked.

The drop was sudden, from above 124 to 121, so George is still in the United States.

Wu Guoming said: "The president was notified that all positions below 122 points were closed. ”

Lin Zuhui nodded, if the liquidation goes smoothly, he will get a profit of more than 4 billion and return more than 5.5 billion funds; Coupled with the 3.5 billion cash flow in hand, there is enough cash flow of 9 billion; Of course, Hengjin Investment also has a loan of 3.5 billion.

This money is spent quickly, and financial investments such as gold futures and foreign exchange need to continue, as well as the purchase of New Era Group's equity swap bonds (to avoid dilution of shares).

The New Era Group needs to issue bonds of 3 billion yuan at the end of the year to maintain cash flow at more than 6 or 7 billion yuan, so as to ensure that it can get the 'land king' in Xiangjiang next year (every time the real estate season is in the peak season, the Hong Kong government will launch the land king, speculate on land prices and property prices), and also ensure that it can make great strides in the mainland and overseas next year.

Because Lin Zuhui knows the real estate development of Xiangjiang, he estimates that the profit of New Era Group next year may be more than 14 billion. In addition to the growth of development properties, rental properties will be the second largest growth point. It can be said that the life of the New Era Group will be better next year.

Lin Zuhui continued: "You inform George that we will enter the gold futures market at the end of the year, and let him arrange for the company to prepare. The amount of funds is 1 billion, and the leverage is 20 times, so it is necessary to reduce influence and confidentiality. ”

Wu Guoming nodded and said, "Okay, I'll arrange the business of Xiangjiang, and then go on a business trip to the United States, just tell him." ”

The assets of Hengjin Investment are already quite large, holding 2% of Microsoft (with a total market value of about $25 billion), Nike 3.9% (with a market value of about $4 billion), Starbucks 7.5% (with a market value of about $600 million), and also owning Hengjin Real Estate, with a property value of more than 20 billion.

With the addition of cash, the asset value of Hengjin Investment is more than 40 billion, second only to Lin Zuhui's company's equity wealth; And the wealth of the family office is only more than 30 billion, which cannot be compared.

Lin Zuhui is more worried about one thing, next year the United States will officially rank the world's wealth list, and he will definitely be the richest man in the world without any suspense.

Because the market value of New Era Group is estimated to be 120 billion at the end of the year, ATV's market value is 15 billion, Wanhui Media is 10 billion, and LEIT Group's market value is 12 billion (accounting for 35% of the shares).

He only holds shares in these four companies, which were worth around $10 billion at the end of the year.

And he remembered that the richest man in the world in 1993 was either Warren Buffett about 8.5 billion, or Yoshiaki Tsutsumi, a Japanese whose company was not listed, about 9 billion US dollars.

In short, Lin Zuhui has almost no suspense.

Even, it is estimated that it will be him for at least a few consecutive terms, until Microsoft grows up in the real sense, probably after 1996, and will lose the title of the world's richest man.

This is difficult, Lin Zuhui no longer wants to be in the limelight, but the stock price of New Era Group has soared too fast, causing his book wealth to swell greatly.

However, there are two sides to this, one is that it can bring more channels and convenience to Lin Zuhui's business, and the other is that being 'too famous' is easy to create jealousy.

It's useless to think about it, you can only go with the flow.

.........

Maosha Street, Sheung Wan, at the entrance of the Heung Kong Gold and Silver Trading Ground.

"Boss, this is Zhang Renqiang of the Han Annuity Bank. Zhang Sheng, this is my boss! Huang Weichang, President of Luk Fook Jewellery, introduced.

Zhang Renqiang hurriedly said: "Hello Mr. Lin, I have admired your name for a long time!" ”

Lin Zuhui said politely: "Zhang Sheng is polite, this time please take me to see the most distinctive places in Xiangjiang!" ”

After a polite look.

"Lin Sheng, please come here!" Zhang Renqiang pointed to the gate.

It is said that if you come to Hong Kong and have a look at the gold exchange, it is difficult to feel the pulse of Hong Kong's economy beating day and night, and it is difficult to understand why Hong Kong has become the world's third largest financial center.

At the door of the gold and silver trading ground, the appearance of the building was very inconspicuous, and two tall, heavily armed British Indian JC stood at the gate, seeing Zhang Renqiang with Lin Zuhui and Huang Changnian, they were slightly stunned, they obviously knew Lin Zuhui.

However, the two still asked Zhang Renqiang about the situation in fluent and accurate official dialect of Guangdong Province, and the exchange generally refused to allow outsiders to visit, which is why Lin Zuhui wanted to visit and had to ask someone to get in.

If your reputation is not good, it will not be a shame.

"Excuse me, Mr. Lin!" British-Indian JC made a gesture of invitation and said politely.

"It's okay, it's your duty, we should cooperate!" Lin Zuhui said with a smile.

In fact, it was just a casual question, Zhang Renqiang has been in the gold and silver trading center for so many years, and there is no problem with him.

As soon as you enter the door, the noise of 'gold frying' in the hall is like a heat wave blowing from the desert, and it is inevitable that the nerves will tremble for those who often work quietly in the office.

The people who speculated on gold looked at Lin Zuhui curiously, and they all smiled, but they quickly concentrated on speculating on gold. It can be seen that everyone doesn't want to miss the opportunity to make a fortune, even if they are curious about what Lin Zuhui is doing.

"Lin Sheng, let's go to the second floor, we can better see the grand occasion here!"

"Good"

Second floor.

Looking down through the railing, there is a 2,000-square-foot patio below, where more than 100 gold traders in dark yellow shoulder uniforms, like Spanish bullfighters, roam in the middle of the hall, searching for their prey, and the "hotline" is densely packed around the wall.

After Zhang Renqiang's introduction, Lin Zuhui understood that each telephone clerk kept reporting the rise and fall of the gold price to the boss of the bank with a simple phone in hand, and at the same time constantly gesticulated to the buyers and sellers in the market to convey the boss's instructions in a timely manner.

The other end of the "hotline" is directly connected to the office building of the boss of the gold bank. The closed-circuit loudspeaker kept hearing the murmuring of quotations, and the boss stared intently at the fluorescent screen of the TV next to his desk, weighing the rise and fall of the London gold price sent by Reuters via satellite 24 hours a day.

"Mr. Lin, there is a saying here that 'information' is life for the boss of the gold bank, and the slightest omission will have unimaginable consequences. The boss of the gold bank is tired every day in order to inquire about all kinds of relevant information and analyze the market. Zhang Renqiang said with a sigh.

He knew that Lin Zuhui was known as a god, and his ability in finance should not be underestimated.

Lin Zuhui nodded and said, "Are they all spot trades?" ”

Suddenly, a trader standing in the middle of the patio raised his right hand, but seeing a few of his fingers bent outward, a few gestures, a dozen traders immediately rushed towards him, grabbed him tightly, and his eyes were quick to pat on the shoulders of each of the five people, so the crowd quickly dispersed.

Intense footage like this appears every minute or two, like a marquee, which is dazzling and nerve-wracking.

张仁强 says:

"It's spot, but you don't have to do it. Don't underestimate the trader who just slapped someone on the shoulder a few times, and they may have made a transaction of hundreds of thousands, or even millions of yuan. ”

"Speculating on gold in the trading field is calculated in units of one hundred taels, commonly known as 'one lot'. There is a set of knowledge in buying and selling hand gestures, and bending the finger outward is selling, and bending inward is buying. The price also relies on gestures, only hitting the two mantissas behind the gold price. The seller slaps the buyer on the shoulder to close the deal (the seller or the buyer has the right to choose the object), and then both parties write down the amount of the transaction in a notebook. They used Chinese numerals instead of Arabic numerals, which has been used for many years. At the end of the morning market at 12:30 p.m., both parties went to the Accounting Section of the Exchange to post the accounts by computer. ”

"After the deal is made, it is not immediately given money to gold, but three days. During these three days, it is the time to make the difference! A buys B's gold, and then A sells the gold at a high price within three days, which is a profit, and B buys it at a low price in three days......"

"The cycle of such transactions is endless. The rise and fall of the gold market price does not depend entirely on supply and demand. Human factors and changes in the international situation, and even the words and deeds of the head of state of any major country may cause fluctuations in gold prices. Speculating on gold is always a big risk. Some became nouveau riche in a morning market, and some went bankrupt, which is really a few joys and a few sorrows! ”

After listening to the commentary, let's take a look at the leeks off the field!

No, it's a gold speculator.

Lin Zuhui couldn't help but shake his head, count the balls.

9 to 5, delusional to make a fortune, but unfortunately they never know who the winner is.

Lin Zuhui did not visit the gold and silver trading center on a whim, but planned to buy a large amount of gold spot here. Moreover, it is to let Octopus Bank carry out gold reserves (gold speculation).

Without leverage, Lin Zuhui feels that he has a profit of 2% (currently $340 per ounce), which is also more cost-effective than lending. What's more, the money lent is not cash flow, but if there is gold reserves in the hands of HSBC, it can be borrowed when there is a run, of course, this is just in case, Lin Zuhui's reputation is still very high.

In addition, for example, the loan-to-deposit ratio is only about 48%, but if you buy spot gold, the loan-to-deposit ratio can be increased to 80%, and there is not much risk.

Of course, because Octopus Bank is currently a shareholder, it can operate in this way as the sole shareholder.

The reason why Lin Zuhui let Octopus Bank participate in gold speculation is to wipe out the losses before listing. In this way, the listing of Octopus Bank may be worth tens of billions of dollars, and the money raised by the listing can be used as a spin-off, and the money raised will be allocated to the Octopus Financial Group, which is equivalent to Lin Zuhui cashing out.

After bidding farewell to Zhang Renqiang, Lin Zuhui said to Huang Weichang in the car: "If I want to buy a large amount of gold spot, how many tons can Lukfook Jewellery contribute in a month?" ”

The gold in Hong Kong is free trade, and the government doesn't care how much you import or how much you sell, and the tax is very low, almost nothing.

Huang Weichang said: "Xiangjiang imports 300 tons of gold a year, and our import of 30 tons a month will not cause too much fluctuation in the market. He guessed that Lin Zuhui was an investment of billions at every turn.

1 ton of gold is about 90 million Hong Kong dollars, and the annual import of gold is only more than 27 billion, but if you have been buying spot for a few months, you can still make a gold bar of more than 5 billion.

Similarly, the gold futures market is far from being comparable to USD/JPY, and Lin Zuhui lost his mind for a while.

After a long time, he said: "Mainland gold is 20% more expensive than ours, and it is impossible to open it in recent years." But when mainland tourists come to Hong Kong, gold jewelry must be a must-buy, and it may reach more than 50% of the gold sold in Hong Kong, which is why I let you expand in the last two years! ”

Huang Wei often said with admiration: "Boss, we have 12 stores at present, surpassing King Fook Jewelry and becoming the jeweler with the fourth most stores in Xiangjiang. ”

Lin Zuhui nodded and said: "Don't make any effort in the mainland market, although I can ask Lukfook Jewellery to open a showroom in Guangdong Province, but in fact, the effect is limited, and it is a waste of human affection." As for opening a processing plant in the mainland, forget it, and laying off employees is not what I want to see. ”

He knew that in order to develop the gold market, the mainland would have to join the WTO in 2003. At that time, it is enough to prepare a few years in advance.

The main thing is that he doesn't want to run relationships, so in order to open a showroom (not for sale) and a joint venture processing plant (not allowed to sell in the mainland), there is no need to make a big fuss.

Huang Weichang nodded and said, "Okay, then I'll concentrate on taking care of the Xiangjiang market, and then choose the opportunity to develop overseas." ”

"Well, maybe in another ten years, the mainland will open up the gold market, so we don't have to worry, jewelry brands still need to settle down."

In fact, Lin Zuhui doesn't attach much importance to it, after all, he definitely can't do Chow Tai Fook and Chow Tai Sheng.

During this visit, Lin Zuhui roughly determined the strategy of investing in gold:

Allow Octopus Bank to hoard around 100 tonnes of gold by the end of the year and store some of it in HSBC for cash dismantling.

Lin Zuhui personally invested another 1 billion Hong Kong dollars to buy gold futures with 20 times leverage.

At the same time, Hengjin Investment still shorted 1.5 billion USD/JPY at the end of the year, which is also 20 times leverage.

In this way, he can have a large amount of money left (at least more than $5 billion left after the $1.5 billion bond purchase) as a supplementary guarantee, or as a 'support fund' from Octopus Bank.

Lin Zuhui is now very casual in investing in financial products and has a very good mentality. Because he has more than 10 times the industrial assets to support him, it is impossible to go bankrupt.

82 Chinese Net