The Son of Finance of the Great Age

  Chapter 355 Druckenmiller

   To Ma Jiarui's disappointment, Soros did not come to Hong Kong, but sent his most capable assistant, Druckenmiller, to personally handle the business.

  Although the position in Indonesian rupiah is as high as 2 billion US dollars, this is only one-tenth of the total fund management scale of Quantum Fund, so Soros does not need to personally take action. In fact, he was so disheartened that he and his traders called almost every bank during this period, but no one wanted their rupiah, not even Bank Indonesia.

  So when he heard that someone thought of the Indonesian rupiah they had on hand, Soros thought for a second before agreeing. As for the specific price, the other party asked them to send out a senior manager to negotiate. Soros immediately sent Druckenmiller to Kennedy Airport. What he hopes most now is to get rid of these **** positions as soon as possible.

  Since he was able to negotiate, it meant that there was still room for maneuver in terms of price. Druckenmiller spent a sleepless night on the plane, carefully analyzing and rehearsing countless details, and deliberating every possible situation. It wasn't until the plane landed at Hong Kong Kai Tak Airport that he was able to figure out all the details of the negotiation that he thought might happen. Regardless of the fatigue of the journey, Druckenmiller took a seat with a pair of scarlet eyes. Pick-up car.

In the process of rushing to the office of Tianyu Fund, he and Rodney Jones, who was also sleepless all night, quickly analyzed the above details. Until the moment before entering Tianyu Fund, they were still working on a certain Arguing over the details. But when the figures of Zhong Shi and others appeared in front of them, the two of them stopped discussing and walked up quickly.

  Drukenmiller is tall, a full 1.9 meters tall, and also very burly, with a strong body that supports the suit in style. He has a standard face of a white man, not handsome, but rather bookish, and looks very gentle and refined. If his identity is not known, I am afraid that he will be regarded as an ordinary middle class, or he can be labeled as a Catholic or well-educated.

While Zhong Shi was observing Druckenmiller, Druckenmiller was also observing Zhong Shi quietly: this is a typical Asian elite, young, handsome, and full of energy, perhaps his operating style is Radical and risky, it is precisely because of this that he was able to dare to short the Indonesian rupiah when the entire market was bullish. Perhaps this was just a fluke, but it is not necessarily true. But to be able to achieve such achievements at this age and manage a fund with at least $1 billion in size is very rare even on Wall Street.

  The two sides shook hands and greeted each other, and after introducing each other's negotiation team, they walked towards the Tianyu Fund's office under the leadership of Ma Jiarui.

Passing by the busy trading floor, Druckenmiller found a phenomenon that surprised him, that is, his appearance did not cause much commotion. Most of the traders and analysts in the hall just looked at them. After taking a look, he turned his head and went about his own business. It is basically impossible for this phenomenon to happen in other places. You must know that although Druckenmiller is not as famous as Soros in the world, at least in the financial industry, he is definitely a well-known name. Moreover, in professional media such as Bloomberg, Reuters, Wall Street Journal, and Financial Times, his large-scale photos are also frequently exposed, so there is no reason for professionals not to recognize him.

  In some small hedge funds or investment banks on Wall Street, once Druckenmiller appears, there are always three or five analysts who find various reasons to come and talk to him, the purpose is to communicate with him face to face. But now in this little-known hedge fund on the other side of the ocean, all the traders and analysts turned a blind eye to him. This extremely abnormal phenomenon caught Druckenmiller's attention.

It's just that before he could figure out the deep meaning contained in it, a group of people had already walked to the conference room. After the two parties sat down, they were ready to start negotiating the Indonesian rupiah transaction. Let go of the abnormal phenomenon first, and devote yourself to the negotiation with all your heart.

"The latest quotation of Indonesian rupiah in the market is 5900, but according to my estimation, the price will continue to fall after our negotiation is over." After the market projection, a meaningful smile appeared on his face.

"I don't agree with this." Druckenmiller, who didn't want to be led by the nose, immediately launched a sharp counterattack, "Mr. Zhong, when I just landed, I heard that the South Korean side just announced a news , It is said that they will issue 10 billion U.S. dollars of national bonds, and at the same time cancel the 10% daily fluctuation range of the Korean won, allowing it to float freely in the market, I wonder if Mr. Zhong has heard of it?"

  The reason why he avoided talking about the performance of the Indonesian rupiah, and talked about the Korean won, which seems irrelevant, was not only to divert Zhong Shi’s attention, but also to examine his opponent’s economics.

Sure enough, after Druckenmiller said these words, Rodney Jones, who was sitting next to him, showed a knowing smile in cooperation. After touching his smooth chin, his eyes did not blink Staring at Zhong Shi on the opposite side, he wondered what kind of reason this too young fund manager would say.

For this kind of small trick, Zhong Shi is naturally very insightful. He picked up his cup in a hurry, took a sip of coffee, and then said calmly: "The South Korean side rescued itself in time, and released several consecutively in two days. News, I believe today’s market will continue to rise. It’s just that the performance of a currency market in South Korea may not be able to support the entire market’s confidence in the currencies of Southeast Asia.”

  The eloquent analysis clearly explained the logic between several markets. Druckenmiller was still a little calm, at least nodded subtly, but Rodney Jones' reaction was a little big, the smile on his face froze for a while, and then disappeared without a trace. He was a bit contemptuous, and his expression was solemn at this time, and he began to really pay attention to his opponent.

"Maybe one South Korean market is not enough. But if you add yesterday's performance of the New York stock market and London stock market, and the Japanese economic rescue plan that will be handed over to the Liberal Democratic Party for consideration today, I believe it should be enough to make investors feel that the market is recovering." Drew Ken Miller was still relentless, and after Zhong Shi pointed out his intentions, he released several other heavy news.

New York stocks rose 1.1%, the Dow Jones Industrial Average rose 84.29 points, and London also rose, driven by banks and oil stocks 1.5%, the performance of these markets will undoubtedly stimulate the rise of Asian markets to some extent, but this is not absolute.

  As Druckenmiller threw out today's market news one by one, the pressure returned to Zhongshi. Ma Jiarui, who was beside Zhong Shi, lowered his head and quietly wiped the sweat from his forehead while no one was paying attention, apparently extremely nervous. A smile appeared on the face of Rodney Jones opposite him again.

"Yes, what you said may have a good chemical reaction to the Korean won, no, to the entire Asian regional currency. But if I remember correctly, even if the Indonesian rupiah rebounds on these few news, then It seems that there is still a big gap from the average price of your opening positions, don't forget, we are the ones who sold you these Indonesian rupiah." Zhong Shi rubbed the tip of his nose and replied with some malicious intentions.

  At the beginning, Quantum Fund believed too much in its own judgment, and bought Indonesian rupiah everywhere in the market at high prices. The batch of Indonesian rupiah that Zhongshi sold to them was sold at an exchange rate of 3,500 to 1 US dollar, and the current market price of Indonesian rupiah is 5,900 to 1 US dollar, a drop of 68.5%, and they want to recover in a short time Getting to this price level is almost impossible.

Druckenmiller clenched his fists, and his pale eyebrows twitched quickly, before he replied unwillingly: "The average price of our positions is a bit high, but we can hold them for a long time. And we have There is an alternative, that is to invest in the Indonesian domestic market, maybe you can buy some oil, gold or something. Such things can allow us to avoid inflation, and it is also possible for us to sell when the market recovers.”

"Oil? Gold?" Zhong Shi snorted, and replied coldly, "I originally thought that the famous Quantum Fund was a leader in the financial industry and a leader in the industry, but I don't know when you started to do business? It's just I don’t know, when investors are about to withdraw their capital, are you going to use a bunch of junk to perfuse them?”

  Using the money to exchange for real objects has also been discussed within the Quantum Fund, but it has long been denied. One is that due to the unscrupulousness of the Indonesian government and the central bank, prices will definitely soar in the future, and the gains will outweigh the losses; the other is what Zhongshi said now, if there is a large-scale redemption phenomenon, it will take time for these real goods to be realized. Is it really necessary to use these things to deal with customers?

  For hedge funds, the most taboo thing is the issue of liquidity, which is the same as most companies. Because they have to face the problem of customer redemption all the time, and due to regulatory restrictions, hedge funds cannot open to investors on a large scale. Each hedge fund can only have a maximum of 100 investors. In this way, each investment People require a large amount of redemption, and they need to obtain absolute returns while coping with the redemption pressure that may come at any time. Therefore, this requires hedge funds to be able to raise sufficient liquidity in a short period of time, and to ensure that they will not be affected by it. Being lowered by the other party, etc., and holding physical objects is definitely not within the scope of investment consideration.

  Drukenmiller was at a loss for words for a while, not knowing what to say.

Zhong Shi would not accept it as soon as it is good, and continued to attack: "If the market rumors about Bank Indonesia's excessive currency issuance are true, the Indonesian market will not know what will happen by then. Under such circumstances, choose to hold Indonesian domestic real currency. It is definitely not a wise choice. Gold, oil and other markets continue to slump, and I am afraid that there will not be much improvement in two or three years. Stanley, I believe you will make a choice that is most beneficial to you.”

"Don't forget, I didn't spread the news to the market that you are long Indonesian rupiah. If the market knows this situation, I'm afraid you and I don't know what will happen. But what is certain is that this situation will definitely not Appear." Seeing that the other party was completely speechless, Zhong Shi turned out the last hole card, pouted his mouth towards the projection screen, leaned back, chose the most comfortable position, and smiled Looking at Druckenmiller with a helpless expression on the opposite side.

   Everyone looked in the direction indicated by Zhong Shi, and found that at some point, the Indonesian rupiah rebounded, and soon after falling below 5900, it began to rise strongly. It's just that when Druckenmiller saw this scene, he could only smile wryly and shook his head.

  Bringing the wind is the most common way to influence the market, and it is understandable if the other party wants to do so. Druckenmiller is well aware of the reputation of his fund in Southeast Asia. If there is news that they are long Indonesian rupiah at this time, they can figure it out with their toes. At that time, short sellers will definitely flock to it, thinking Take a bite out of Quantum Fund.

  For the market, the most taboo thing is to expose one's position and direction, and Quantum Fund has both. What Zhongshi said was fatal, and Druckenmiller couldn't do anything about it.

After discussing with Rodney Jones in a low voice for a while, Druckenmiller raised his head again, stared into Zhong Shi's eyes and said, "Young man, you impress me very much. Frankly speaking , We have thought about countless plans before this, but they were all rejected in the end. You are a formidable opponent, and I hope we will not collide again. Next, we should talk about the specific price."

Now that the other party has compromised, Zhong Shi also took advantage of the situation to get off the donkey, and said with a smile: "Stanley, you just made a mistake in judgment for a while. I believe in your ability and am happy to learn from you. I believe we will meet again opportunity."

  Drukenmiller just smiled, but he didn't take Zhong Shi's words seriously in his heart.

  …

  After some intense bargaining, the two parties finally reached an agreement at position 5600. This transaction ended with a huge loss of 60% for Quantum Fund, that is to say, they lost all the profits they made on the Thai baht. And Zhong Shi and his Tianyu Fund took in another 1.2 billion US dollars quietly.

  The next step is some details, which are left to other personnel to operate. Druckenmiller got up to leave, and Zhong Shi accompanied him to the door, but when Druckenmiller just walked to the door, he suddenly stopped and said to Zhong Shi puzzledly: "Mr. Zhong, I have another I have a question, can you give me an answer?"

  Zhong Shi was taken aback for a moment, then nodded with a smile, and replied: "No question, Stanley, if I can answer, I will tell you frankly."

It’s just that Zhong Shi didn’t expect that Druckenmiller didn’t ask questions about the transaction, but pointed to the trading room where people were coming and going, and asked with doubts: “Don’t they know who I am? ?”

"come here!"

   Regarding this question, Zhong Shi secretly felt a little funny, but he didn't expose it face-to-face. Instead, he waved to the nearest trader and signaled him to come over. After the man walked quickly to Zhong Shi, Zhong Shi pointed at Druckenmiller and asked with an unnatural expression: "Do you know who this gentleman is? Leo, is your name Leo?"

"Yes, Zhong Sheng!" The trader named Leo first nodded respectfully at Zhong Shi, then looked Druckenmiller up and down, and said with a little disdain, "Isn't he just Stan?" Leigh Druckenmiller? The manager and partner of Quantum Fund, who once defeated the Bank of England. But it’s nothing special!”

Druckenmiller, who was still a little complacent, was stunned for a moment, looked suspiciously at Zhongshi, who was suppressing a smile, and then at the trader named Leo, and couldn't care about anything anymore. Etiquette, just walk away on the spot.

   "Did I say something wrong?" Seeing that the other party didn't even say a word, Leo was at a loss, scratched his head, and asked Zhong Shi in a daze.

   "Hahahaha..." Zhong Shi couldn't hold back his laughter any longer, and burst out laughing under the watchful eyes of everyone, laughing so hard that he almost couldn't even breathe.

   PS: In real history, Quantum Fund did long Indonesian rupiah, and it is said that the loss reached 40%. I didn’t just talk nonsense for writing a novel~ BTW: Thanks to the book friend Shihuangtian, I don’t pretend to be cool, and I called my brother to vote for support! Thanks to the book friends Xiaoyao Confidence and Super Killer for their rewards for this book!

  (end of this chapter)