The Son of Finance of the Great Age

  Chapter 372 Double Attack

   "Stanley, is everything ready?"

  Just back from South Korea, Soros, ignoring the jet lag, rushed to his office in Central Park immediately, and asked Druckenmiller impatiently as soon as he put on his windbreaker.

Druckenmiller nodded, looked Soros up and down, gave a thumbs up and said: "George, you did a great job in Korea! Did you know that the Korean stock market rose by 30% after your speech? %, this is a remarkable achievement."

"God!" Soros was unimpressed. "Who the **** cares about the Seoul market? I'm terrible there. Besides dealing with government bureaucrats, I have to tout the country's economy as they say. But Who cares about my investors, who cares about my performance?"

"Calm down, George." Druckenmiller was also a little annoyed when he mentioned the recent performance of the Quantum Fund, but he still maintained his usual rationality, "Isn't there a chance now? After we get everything done, before Everything will be erased.”

   There is a reason why these two people are called the golden combination in the industry. Soros is bold and dares to bet everything as long as he thinks it is right, while Druckenmiller is a master at finding opportunities, professional and rational. Usually, it is Druckenmiller who discovers investment opportunities first, and then Soros bets heavily on them. This combination has been tried and tested in the financial market, and has achieved impressive results in the British pound and 94 London copper Shocking gains.

   Of course, they are not omnipotent, at least in the Indonesian rupiah market. However, this is also determined by the unique political ecology of Asia. According to normal economic logic, the Indonesian rupiah should rise, but under the destruction of the entire bureaucratic system, the Indonesian rupiah fell abruptly, and the fall was very serious. serious.

  The lesson that this speculative mistake taught the two of them can almost be described as painful. In the end, only 800 million of the investment portfolio of 2 billion was recovered, and the loss reached 60%, which is a figure that may be liquidated. Fortunately, Quantum Fund has a big business. If it were to switch to another fund with a smaller scale, I am afraid that it would have been redeemed by investors long ago.

Thinking of the Indonesian rupiah, Druckenmiller said casually, "George, there is a situation you need to understand. The Indonesian rupiah has fallen below 7,500 today, which is much lower than when we closed the position. .Because Standard & Poor’s lowered the credit rating of the Indonesian government, there was a serious panic in the market. And according to my understanding, there are other rating agencies that will lower the credit rating of the Indonesian government in the near future.”

"God!" Soros finally couldn't help complaining, "Stanley, don't tell me this **** country anymore, who knows how corrupt their bureaucracy is, even dare to hand out rescue funds! Our future investment will definitely To avoid this **** country, they have no rules and no credibility."

  Since returning from South Korea, Soros has become very angry. The performance pressure on his shoulders made him fluctuate violently. Of course, these are only shown in front of senior partners. For those low-level employees, he still has a smiling face.

"No!" After complaining for a long time, Soros finally reacted, "Stanley, what's wrong with this? You won't mention the Indonesian market for no reason, after all, we have put this place on our blacklist gone."

  Because the Indonesian government is too corrupt and does not operate the country according to normal logic at all, and the Indonesian foreign exchange market has limited liquidity and too many restrictions, Soros simply put this country into the ranks of prudent investment regions.

"Yes." Druckenmiller didn't make any more detours, "Speaking of which, this matter is still related to what we are doing now. Peregrine has a lot of investment in Indonesia, and the current deterioration of the Indonesian rupiah As a result, their investment cannot be recovered, and this investment bank has fallen into a serious financial crisis."

"Is this true?" Soros' eyes lit up, his eyebrows twitched unconsciously, but after thinking for a while, he remembered something, and asked hesitantly, "If I remember correctly, they have already met with other The consortium has reached a shareholding agreement, and the problem of funding is no longer a problem, is that true?"

Since the Zurich Center Group is a consortium from Europe, even if Soros and others want to destroy this business, they will be beyond their reach. You must know that Zurich Insurance is a giant in the European insurance industry, and it is one of the largest consortiums in the world. The strength is no less than that of several large consortiums in the United States. Soros is not qualified to issue orders to these consortiums.

   Obviously, Soros and Druckenmiller wanted to go together. However, Druckenmiller took a closer look and suggested calmly: "George, what we have to face is not Zurich Insurance, but their subsidiary Zurich Center Group, so the difficulty is much less difficult. According to my point of view, on the one hand, we can spread the word that we want to short the company to exert pressure; on the other hand, we can exert pressure on the other party through official channels. We must know that what we are doing now is largely It also follows the meaning of the U.S. government.”

  His proposal is undoubtedly very tempting. In fact, they only need to make Zurich Center Group give up the investment plan of buying shares in Peregrine at this time, which is simply a piece of cake for the other party. And if the other party wants to go its own way, I am afraid that it will eventually face the challenge of international hot money. No matter what the final result is, I am afraid that this company will inevitably suffer serious losses.

   As long as there is a little bit of rationality, no one will choose to confront international hot money at this time. These hot money can even overwhelm a country's foreign exchange system, let alone certain companies.

Undoubtedly, Soros was immediately tempted. After his eyes flickered for a long time, he said leisurely: "If this can be successful, we might as well give it a try. If there is a real crisis in Peregrine, when the time comes for our plan But it was a big help.”

  The plan to short Hong Kong again has never stopped. Apart from Indonesia and South Korea, Rodney Jones has studied the capital market of Hong Kong the most on weekdays. Now under the careful preparation of these capitals, the time is ripe for the third wave of attacks against the Hong Kong dollar.

In a recent report to Quantum Fund, Rodney Jones specifically mentioned Peregrine’s position in Hong Kong’s capital market. In addition to being the largest investment bank in Asia, the number of transactions using their seats is also ranked in the market all year round. Top five, and more likely to rise to No. 1 this year.

  This ranking refers to the statistics of the number of stocks bought and sold in the Hong Kong capital market using Peregrine's floor seats and brokerage channels, and the fees incurred are Peregrine's income commissions. The more capital uses this channel, the greater the influence of this investment bank. And once something happens to such a company with extensive influence in the market, the impact on the market will be immeasurable.

  Peregrine was targeted by hedge funds in this way.

After Peregrine and Zurich Center Group reached an agreement again, the news was quickly spread to New York by Stanley Hong Kong, the financial advisor of Zurich Center Group. Speaking of which, everyone is in the investment industry, and it is inevitable that there will be grievances between each other. . If a giant collapses suddenly, its share will be divided up by others. This is what all colleagues like to see, and Stanley Hong Kong is no exception.

   And after Druckenmiller got the news for the first time, he started to use his brain, trying to do everything possible to disrupt this business, not only for Stanley Hong Kong, but also for their current plan to suppress the Hong Kong stock index again. Originally, he only thought of being able to use one or two rumors about Peregrine to hit the Hong Kong capital market, but now the opportunity is really in front of him, and this well-known fund manager will naturally not miss it.

   "Julian, how are your preparations going?"

  Soros and Druckenmiller discussed the details for a long time, and finally the two finally made up their minds. As soon as Druckenmiller walked out of Soros' office, Soros called Julian Robertson.

"Everything is ready." Julian Robertson's tone on the phone was a little lazy, "This time I expect to sell about the same amount as last time, and I believe it will have the same effect as last time, haha. "

In mid-October last year, under the leadership of Julian Robertson, international speculators dumped US$6 billion in Hong Kong dollars overnight in London, New York and other markets. The high lending rate finally successfully repelled the attacks of international speculators on the Hong Kong dollar. Unexpectedly, this is exactly what the international speculators expected. The other party used the chain reaction to establish an astonishing number of short positions on the Hong Kong stock futures index, and made a fortune by taking advantage of the high interest rate. It's a rewarding experience.

Hearing that the other party wanted to do the same, Soros frowned, "Julian, I'm afraid it won't work this time. If the Hong Kong side finds out that our numbers are the same, sooner or later their 'super cash machine' will find out. Our intention is that they won't care about selling at this level by then."

   "What do you mean..." Julian Robertson tilted his head and thought it made sense, so he asked. Since the other party said so, there must be a corresponding way.

Soros chuckled, "If the Hong Kong side is not to be suspicious, then we need to increase our short-selling efforts. This amount must convince them that we are really determined to attack Hong Kong, rather than making a fool of ourselves. I have prepared 2 billion Hong Kong dollars in U.S. dollars, and other people have prepared no less than this amount of Hong Kong dollars. As long as we let the wind out, we can at least double this number. At that time, there will be at least tens of billions of Hong Kong dollars in the market. An attack of this scale, I believe the Hong Kong government will never consider it a tentative act."

"More than 70 billion Hong Kong dollars?" Julian Robertson here took a breath and was shocked by the number. After a long silence, he spoke again, "Is this number too large? You know, if the Hong Kong stock market does not If it falls to a certain level, it will still lose money in the end.”

"But it's not you and me!" Soros ignored it at all, "Those people just let them die. Who made them only want to hitchhike and not want to show up? This time, it is time to give them some Lesson learned. By the way, is that little guy in the trap now?"

"Little guy?" Julian Robertson tilted his head and thought for a long time before he remembered that the guy surnamed Zhong that Soros was referring to, "I really don't know. But since Stanley Hong Kong has done so much work before, I believe this guy is deeply involved and is now complaining."

"Hahaha..." Soros on the other end of the phone laughed unscrupulously. The laughter was full of permeating indifference and cruelty. Even through the microphone, Julian Robertson could clearly capture it, "Since you offended me, then I will definitely retaliate severely."

  Hearing Soros's almost maddened clamor, Julian Robertson suddenly felt a shuddering feeling. A gust of cold air rose from the soles of his feet and rushed to the Tianling Gai in an instant, making him shiver uncontrollably.

  In the early morning of January 8 in the Eastern Hemisphere, the Hong Kong dollar market in London fluctuated again, and national speculators made a comeback.

   I don’t know why, the recent situation is so sluggish... No matter what, the author will continue to write with the same enthusiasm as before. I only hope that everyone can do their best to support, thank you~!

  (end of this chapter)