Chapter 640 I'm afraid they will run away

Qi Xiao did his best to include the list of new oil companies and financial institutions in the market. It is relatively simple to count financial companies, so it is difficult to count oil companies without seats. Although many companies are not included, it is still a very long list, and there are dozens of well-known companies.

"Bearns also joined?" Su Cheng's expression was strange.

Qi Xiao nodded solemnly and said, "The two funds of Bear Stearns have joined the market."

"Do more?"

"Yes, Bear Stearns also published a report saying that the price of crude oil was in the end, and then persuaded investors to enter the market." Qi Xiao's expression was serious. Bear Stearns is the fifth largest financial company on Wall Street and one of the world's top 500 companies. Its reports and its funds are naturally heavyweight.

Su Chengqiang suppressed his smile and continued to ask, "Anran is back too?" Do more again?"

Qi Xiao nodded heavily and said, "They lost at least tens of millions of dollars in the last round, maybe more than 100 million dollars. They want to make up for it."

Enron is also a world-class company, with sufficient capital and confidence.

Su Cheng's finger stroked from top to bottom, and then asked, "And Lehman Brothers Holding Company?"

Qi Xiao's face was covered with clouds at this time, and he said, "It's also too much. They mainly sell financial products in this regard to customers. The total amount is not too much, and the operation is relatively frequent. It is surprising that London crude oil did not exceed $16 at the opening.

Hearing this, Su Cheng finally couldn't help laughing.

Qi Xiao looked at him with a stunned face and really wanted to ask, "Why did the lord laugh?"

Su Cheng shook his head with a smile, and he couldn't explain it. For many Chinese in later generations, people who know Enron and Lehman Brothers are probably much more than they know Morgan Stanley. They are typical of a failed company. The former can also be studied in accounting textbooks - if any Chinese accountant can learn one-fifth of Enron's false accounting skills, he will not have to worry about buying a house, a car and marrying a wife in China.

The new Bear Stearns is not much better. Although it is a super financial company, the world's largest securities company in some years, and has created tens of billions of revenue, but in the 2008 financial crisis, it sold itself to JPMorgan Chase for a total price of $236 million.

In the eyes of Su Cheng, these prominent companies are more like symbols of failed finance.

They magically come together and stand aside, which is the main reason for Su Cheng's laughter.

However, Qi Xiao couldn't feel the smile of Su Cheng. He looked at Su Cheng with a sad face and thought to himself: The chairman is not mad.

Su Cheng took the opportunity to laugh for a while and released the pressure of the past few days. Although the profit on the book has reached about 5 billion US dollars, how to change this money into cash is the real time to test them.

As a pan-Asian fund of short-party giants, we can't relax now. We can't not only withdraw a penny, but also keep accumulating a lot of money on the short side.

Su Cheng's own price difference contract can be withdrawn at any time, but its profit has not been maximized, and Su Cheng still wants to wait a little longer.

Therefore, the funds in Sucheng's hands are actually decreasing.

The longer it takes, the more risks will be concentrated. Qi Xiao naturally ** this risk. Looking at Su Cheng's laughter stopped, he whispered, "Su Dong, the market trend is not particularly good. We also have to be careful of these companies. Although Bear Stearns and Lehman Brothers only have their own funds and branches. There are also a lot of funds that can be invested to participate. Enron has made a comeback, and the momentum is even greater. I'm afraid it's not a good thing..."

Qi Xiao's chatter is very different from usual, and it is also a manifestation of great pressure.

If he had the right to decide, he would definitely close the position now, even if there was some loss.

Sucheng does not have much financial knowledge and background, but it has a firm will cultivated over the years. He is going to be a century-old company, but he doesn't want to spend money with a century-old company. For this futures war, he has made a lot of preparations. I'm afraid it's more than other companies. With Su Cheng's heart, no matter how difficult it is, he will stick to it.

Qi Xiao has known Su Cheng's thoughts for a long time. This is also a reminder, and then he began to report on various transactions in the market.

The futures market is ever-changing. Su Cheng has no time to stay in the office to read the data. Qi Xiao will report the sorted results and always let him know the trend of the market.

While listening, Su Cheng tapped on the table with his fingers and had the right to think.

Because overnight, yesterday's bearish news has almost exhausted its strength, and the pattern of steady rise in crude oil prices has gradually become a success. Qi Xiao's anxiety also comes from this. While he speaks, he is also observing Su Cheng's expression.

Su Cheng's answer was unexpectedly reasonable, and it was summed up in one word: "Wait."

While waiting, the price of crude oil is rising step by step.

The traders of the Pan-Asian Fund looked at the upward curve, sweating coldly.

This is not a business of taking out a little spare money to invest in stocks and making some spare money. In the futures market, there is no such thing as trap or trap, or make a profit or cut meat, or make a big profit or lose money... Ten times 20 times the leverage given by banks and other financial institutions is 10 times 20 times the margin Jin, the cost of using this money is not low.

Once the curve is raised, it is not easy to wait for the curve to come down.

Stock investors can shout that I am trapped, and then wait for a few years to look forward to the release of the trap. Even if futures speculators can continue to hold the contract, the contract will always be delivered.

The crude oil contract in August expires in August, and the crude oil futures contract in September expires in September. You can choose to just close the position or deliver.

The rising oil price has undoubtedly devoured everyone's profits.

From $18.52 to $15, the profit of the Pan-Asian Fund has reached more than $20 billion, from which Suzhou City alone can get more than $5 billion.

And if the price of crude oil does not jump up by 10 cents, the total profit will fall sharply by hundreds of millions of dollars. Because the current Pan-Asian Fund is almost fully in operation.

$17.5 billion in capital, borrowing 15 times leverage, represents a total investment of $260 billion. Although it is not as good as the bond market and the foreign exchange market, nor can it be compared with the derivatives market in the mature period, the nearly $300 billion in capital is also the same as the best of Morgan Chase. The free funds of the class consortium are almost enough.

By the time the electronic market opened, the oil price rose to $15.68, which seemed to hit $16.

Su Cheng finally came to the big office and began to pay attention to the electronic disk.

Qi Xiao was inexplicably relieved and thought: As long as Su Dong is careful, he should be fine.

When he was working, he always paid attention to Sucheng and was ready to provide advice.

In addition to Qi Xiao, other people in the office are also paying attention to Sucheng. This time, the futures operation of the Pan-Asian Fund does not follow common sense, but is basically carried out within the framework set by Sucheng. Therefore, traders and staff, including Qi Xiao, are not so confident as trusting Sucheng.

He has earned more than $20 billion in book income for the Pan-Asian Fund. With such a large amount of money, even if it is placed on Wall Street, it should be very popular, not to mention that Su Cheng is still the boss.

After a while, the price of crude oil in October jumped two levels.

Su Cheng showed an "like this" expression, which seemed to be very relaxed.

Qi Xiao, who should have been nervous, was also at peace in his heart, as if affected by Su Cheng's ease. He calmly ordered, "Keep the original short-selling rhythm and let the Vulture not worry."

Su Cheng listened and nodded slightly.

Qi Xiao suddenly calmed down.

Then two rounds of jumping, Su Cheng still looked at the electronic disk flatly.

Then, there is a small round of downward adjustment.

Qi Xiao smiled gently. As long as he could come and go, it would be good. The upward market put great pressure on these short-selling people.

He kept smiling and turned his head, trying to see the same smile on Su Cheng's face.

To his incomprehension, Su Cheng's expression was nervous.

"What's going on?" Qi Xiao showed a puzzled expression, almost the same as that of Su City.

A few minutes later, the price of crude oil fell slightly.

There are always some band traders, or pure technologyists who don't care about the basic market. They are the main force of chasing ups and downs, and have also caused constant changes in the floating market. In this round of ups and downs, some traders can earn hundreds of thousands of dollars or lose hundreds of thousands of dollars.

For Pan-Asian funds, this may mean hundreds of millions of dollars in book income.

But what Qixiao saw from Su Cheng's face was not an expression of making money, but more like suspicion.

"Have you shown me the institutions that have just been sold short, have they closed their positions in multiple ways?" Su Cheng came to a computer.

The staff pressed the keyboard and said, "It will take about a minute."

"Hurry up."

"30 seconds... crackling..."

"A little faster."

"Ah... I found... here it is."

"Do you have it?" Su Cheng is still staring at the curve of the big screen, which is changing all the time.

The man in front of the keyboard looked at it carefully and said, "There is no big one."

"Are you sure?"

"Determine."

Qi Xiao was completely confused and asked in a low voice, "Su Dong, what's wrong with you?"

"What's wrong?"

"That's right, why are you not in a hurry when the price of crude oil rises, but the price of crude oil has fallen, a little... nervous."

Su Cheng suddenly said, "Oh, I'm afraid that they will run away."

"Did you run? Who ran away?"

"These long-stocked guys, especially several companies that build high-level positions, such as Sumitomo Trading Co., Ltd." Su Cheng smiled and said, "If they take advantage of the rising market in the past two days, we will make a lot less money."

Qi Xiao was stunned and didn't know what to say at all.

For normal financial institutions, the more allies, the better, but they fell on Su City for fear that there would be fewer enemies.

However, the futures market is a zero-sum game. Some people will lose money if they make money. Now they have more money to do more money. At that time, the more meat will be cut, but Su Cheng's idea is abnormal.

......RS