Ji Sheng originally thought that the person he wanted to meet was the chairman of State Street Bank.

But when he really arrived at his destination, he realized that the person he saw was actually the chairman of State Street Group.

It has to be mentioned here that State Street Bank is a wholly-owned subsidiary of State Street Group, and State Street Bank has an independent board of directors, but the chairman and the chairman of State Street Group are not the same person.

Manhattan, a luxury residential complex.

Ji Sheng, Michael. Baker, led by Egnam, met in the living room of this luxury villa with Lynn Brown, the current chairman of State Street Group. Elson Hans.

Lynn. Elson Hans was a white woman in her fifties, who wore a pair of glasses, perhaps because she was rich, and had few wrinkles on her face except for the scattered freckles.

"Hello, Mrs. Elsonhans."

"Hello, Ji."

The two got to know each other preliminarily.

Subsequently, Lynn. Elson Hans asked the servants to make them each a cup of coffee to refresh themselves, and then looked at Egnan and said, "Patrick, is there anything you have to do with you bringing Mr. Ji to me so late?" ”

Aignan repeated what Ji Sheng had just said.

Lynn. After listening to this, Elson Hans pushed the frame of her glasses and looked at Ji Sheng, she leaned slightly on the sofa and crossed her legs, and asked lightly: "Can I ask, what kind of foreign exchange are you going to speculate if you want to get so much money to speculate?" ”

This middle-aged woman looked quite thin and spoke very calmly, but I don't know why, Ji Sheng could feel a lot of pressure from her, "I am more optimistic about the continued rise of the US dollar against the yen and the West German mark, so I want to get a large amount of money to invest in the US dollar." ”

"Two billion dollars worth of yen and West German marks?" Lynn. Elson Hans continued.

Ji Sheng pondered for a moment and said, "The more money the better, and the two billion dollars is just my guaranteed estimate." ”

Lynn. Instead of answering his question head-on, Elsenhans took a sip from his coffee cup and asked again: "Do you want to hedge?" ”

Ji Sheng was stunned, not understanding what this meant.

Agnam also seemed to see Ji Sheng's doubts, and took the initiative to explain, "The chairman means to ask you if you want to use the yen and the West German mark as a hedge to avoid risks." ”

Oh!

This time I got it!

What does hedging mean?

Hedging is a financial term that refers to an investment that deliberately reduces the risk of another investment.

It is a way to reduce business risk while still making a profit on the investment.

Generally, hedging is to carry out two transactions at the same time, which are related to the market, in opposite directions, with the same amount and the profit and loss are offset.

Market correlation refers to the unity of market supply and demand that affects the price of the two commodities, and if the supply and demand relationship changes, it will affect the prices of the two commodities at the same time, and the direction of price changes is generally the same.

Opposite direction means that two trades are bought and sold in opposite directions, so that no matter what direction the price changes, there is always a profit and a loss.

Of course, in order to achieve profit and loss, the size of the two transactions must be determined according to the range of their respective price changes, and the number is roughly the same.

In a sense, hedging can be absolutely profitable.

But while hedging is risk-averse, it also loses "miraculous profits", i.e., you can only earn the difference from it.

For example, Ji Sheng is optimistic that the US dollar will rise by more than 14 percent against the yen this time, and if he operates normally, he will be able to earn more than $1.4 billion by one billion dollars, but if he is hedging, I am afraid that he will only be able to earn one or two million dollars in the end, and the gap is too big.

Ji Sheng replied truthfully: "No, I just want to simply speculate on foreign exchange." ”

Lynn. Elson Hans frowned, "That's too risky, I can't give you support, if you want to choose, I can recommend you to do foreign exchange futures." ”

Foreign exchange futures are at your own risk.

Ji Sheng must not be happy, he said helplessly: "Isn't there any other way to get a lot of money?" ”

"What do you have to pledge?" Lynn. Elson Hans returned to what Egnan had asked in the first place.

Ji Sheng smiled bitterly: "I don't have anything to mortgage." ”

Lynn. Elson Hans shook his head, "I'm sorry then. ”

Ji Sheng was a little anxious, after all, if the price of the dollar dragged on further, the price of the dollar would get higher and higher, and then he would be able to make less money, and now he couldn't get the funds to speculate in foreign exchange, he must be in a hurry, and he even made a desperate bet: "What if I am willing to sign a foreign exchange futures gambling agreement with you?" ”

Normal forex speculation is when the currency exchange rate changes and benefits from the market.

However, futures gambling is different, but the platform and the customer are involved in futures trading, the platform and the customer are each other's opponents, and the formation of a "you win, I lose" profit distribution method, that is, if the customer loses, the loss funds are obtained by the platform, the customer makes a profit, and the platform cashes out to the customer.

This method is often considered a fraud by the authorities handling the case in China.

However, it is not uncommon for large companies to gamble with large companies in the beautiful country, because the futures "VAM" itself is a product of the "market maker" system in the futures market, a trading habit, and is recognized by the mature market, so the real "VAM" futures trading does not necessarily constitute fraud.

Over-the-counter transactions in beautiful countries are not uncommon, and Ji Sheng has shorted and bought crude oil futures before, and a lot of funds have come from over-the-counter allocation.

Obviously, the few people present didn't expect Ji Sheng to be so bold and actually want to bet with State Street Bank.

Egnan's face changed.

Michael. Baker frowned even more.

Lynn. Elson Hans was slightly stunned, and then asked, "How many assets do you have now?" ”

Ji Sheng recalled that if you count Huajin Capital and the villa he just bought before, plus cash and the equity of Futai Pharmaceutical, he probably has assets of more than 100 million US dollars, and he reported a little, "About 100 million US dollars in assets." ”

"So how long do you want to bet on foreign exchange futures?" Lynn. Elson Hans asked again.

Ji Sheng calculated the time, "One month and ten days." ”

Lynn. Elson Hans bowed slightly, "It's not a long time, in this way, I think you seem to be in urgent need of funds, if you want to bet, I can propose to the board of directors to give you a billion bet funds." ”

One billion is enough.

Even if Ji Sheng used all of this money to tinker with the yen, the final income would only be about 14.5 billion.

His goal is to earn more than $300 million this time, and one billion will definitely not be happy, "It's too little, I guarantee more than two billion." ”

"Then you can find someone else." Lynn. Elson Hans refused.

Negotiations have reached a stalemate.

Ji Sheng felt helpless for the first time, he knew that this was a way to get rich, but because of the lack of funds in his hands, he couldn't make this money.

If he has billions of dollars in hand, he can easily earn hundreds of millions of dollars.

But the reality is so cruel.

Even if you know that you can make a fortune, there is no so-called start-up capital, it is just a sweet dream.

Do you really have to take the risk to do forex futures? If the intermediate price fluctuates greatly, Ji Sheng has managed to accumulate so many assets until now, but it will really be gone.

No way!

Forex futures can't be done!

Ji Sheng took a deep breath, he was already thinking about the hepatitis B vaccine in exchange for funds, of course, not really selling the hepatitis B vaccine to others, but mortgaging it in exchange for money.

For this technology, he believes that it is not impossible to mortgage two billion dollars, provided that the integrity and practicality of the technology are verified.

And the fastest to verify the technical integrity and practicality of his work, it seems that only Merck has the ability, but even so, Merck may need a while to verify it, and then the dollar rally will be over, and Ji Sheng's bamboo basket will be empty.

Unless...... He and Merck also have a gambling agreement!

Thinking of this, Ji Sheng's eyes gradually flickered, and he gradually had a way.

"Mrs. Elsonhans." He suddenly said: "If I take out 100 million dollars, you are willing to bet 100 million with me, so if I can take out 500 million or 1 billion, are you willing to bet ten times the funds?" ”

Agnan was stunned, "Ji, what do you mean by that?" ”

Lynn. Elson Hans doesn't seem to understand too much, since you have 500 million, 1 billion, why don't you just take it out and bet on it at the beginning? Why did you just say that there are only 100 million assets? However, she still nodded and said: "Yes, as long as the capital to open a position does not exceed 10 billion US dollars, I can agree, provided that you can get that much money." ”

Hearing this reply, Ji Sheng smiled, and he said, "Okay, tomorrow night at the latest, I will definitely come to you again with at least five hundred million dollars." ”

Lynn. Elsenhans didn't put this at ease, but replied casually, "Okay." ”

Ji Sheng didn't say anything more, and Lynn. Elsenhans said goodbye and got up to take Michael with him. Baker walked out.

……

Back in the car.

Michael. Baker was a little worried: "Sir, where are you going to get 500 million so much money in one night?" ”

"Five hundred million?" Ji Sheng chuckled, "If I'm lucky, maybe I can get a billion." ”

Michael. Baker was stunned, "Since you have the means to get so much money, why do you have to bet against State Street?" Isn't it safer to directly use so much money to speculate in foreign exchange? ”

At first, Ji Sheng also thought so, but it was based on the fact that he didn't take out the hepatitis B vaccine technology, and he was content just to make two or three hundred million.

But now he is forced to have no choice but to take out the hepatitis B vaccine technology in exchange for a certain amount of money, although it is not necessarily sold to Merck, but at least the technology is licensed, and he will make a lot less money in the future.

Since he has sacrificed his future interests, why doesn't he take a big opportunity to make more money?

Gambling can maximize benefits!

Suppose he can borrow a billion dollars from Merck with the help of hepatitis B vaccine technology, then he can go back and make a bet with State Street to build a $10 billion position, and in the end he will not make more than a billion?

Of course, there are risks associated with this, and if the bet fails, Ji Sheng will become destitute and even in debt.

This risk is very big for ordinary people, but for Ji Sheng, who has long collected complete exchange rate changes from the modern society, it is actually basically equal to nothing, that is, as long as he can get the money, he will definitely make a lot of money.

Dude originally just wanted to make some money from State Street Bank, and then let State Street Bank also earn some commissions, but now since State Street Bank is only willing to accept the VAM agreement, then I'm sorry, buddy is afraid that this time I will make State Street Bank regret it.

Ji Sheng knew that State Street Bank would definitely use other financial means to transfer or avoid risks, such as hedging, and the money he earned in the end was not really taken out by State Street Bank.

But no matter what, if Ji Sheng wins, he will really step on the top of State Street Bank this time, and naturally, State Street Bank will definitely regret it.

Well, it's a bit of a showmanship to do this, and it's not in line with your own philosophy of making a lot of money in a muffled voice.

It's just that Ji Sheng was cornered, so he could only choose to be high-profile, he was ready to make a name for himself on Wall Street!