Chapter 122： backhand short
Thursday, October 15, 2009.
In the morning, after coming to Meta Investment Company, William Chen asked John Paulson to close all his gold futures positions today. The current price of gold is around $1,100 per ounce. Close the position.
So the trading team started a busy operation. At two o'clock in the afternoon, all gold futures positions were closed. The closing price was around $1,110 per ounce, and the current account balance was $2.163 billion.
Then he left $363 million in the account and put the remaining $1.8 billion on a 5% margin ratio, or 20 times leverage, above $1,120 an ounce, and began shorting gold.
When John Paulson heard William Chen's request, his eyes widened and he hesitated for a moment.
This is $1.8 billion. With a leverage of 20 times, it will leverage a capital of $36 billion. You must know that the daily trading volume of New York gold futures is only a little more than $1 trillion, and these funds have already taken up more than one-thirtieth of the daily trading volume!
The most important thing is that as long as the price of gold rises by more than 5%, it does not need to reach this figure, and the funds of 1.8 billion US dollars will face a liquidation, which will be wiped out.
However, after William Chen firmly repeated his request again, John Paulson chose to obey his order and began to direct the trading team to start operations.
Although Chen William is very calm at this time, the pressure in his heart is also very great. This is 1.8 billion US dollars, which is close to 12.3 billion Chinese dollars. This figure can occupy the top 30 in this year's Forbes China Rich List.
And William Chen's $1.8 billion here is all cash!
If, just if, the data of the [Volatility Master Experience Card] is deviated from reality, then the 1.8 billion US dollars is likely to be wiped out.
On the trading day, the trading hours of New York gold futures are 24 hours a day, so there is still time to open positions.
As time went by, William Chen saw that at 14:35 today, the price of gold reached the current highest price today, but this price was not the previously predicted $1122 per ounce, but a slightly lower $1117 per ounce. per ounce.
Chen William breathed a sigh of relief, at least in terms of time, the prediction was accurate, and the price was slightly lower, it should be the influence of his short-selling funds this time.
However, shorting such a large amount of money is not an easy task. William Chen has been on the side of Meta Investment Company, waiting for the final result. Finally, four hours later, John Paulson completed the operation. The average price of shorting is about $1,106 per ounce.
Although the position has been successfully established, there is still a doubt lingering in William Chen's mind, that is, after the gold price reached a high point today, what happened later, causing the price to drop so much?
Anyway, so far, there has been no bad news about gold in the market, and after reaching $1,117 per ounce, the price of gold has only fallen slightly, but it still remains above $1,100. It can re-break through today's highest price of $1117.
This situation is also very nervous. After all, William Chen uses 20 times leverage. As long as the gold price rises by 5%, the position will definitely be liquidated. With his current position, as long as the gold price exceeds 1160 US dollars per oz, his $1.8 billion is about to be wiped out.
Now William Chen knows why those gamblers are addicted to it. This feeling of life hanging by a thread, the tension is really nervous, and the stimulation is also really exciting. Every time the gold price fluctuates upwards, dopamine will be secreted frantically, and the heartbeat will speed up. In the long run, it will definitely affect normal judgment. I am afraid that in order to pursue this kind of stimulation, there are many people who want to walk a tightrope on the cliff.
Up to now, Chen William still has 363 million US dollars of funds in his company account, of which 16.67 million US dollars will be transferred to Siri Company. When the company was acquired before, there were still 16.67 million US dollars of capital injection remaining, and now there is money in the account. Yes, it should be turned around.
There is also 60 million, which is the money invested in the two "Hangover" movies, which will be transferred to the account of Future Pictures later.
In this way, there is another 286 million US dollars left, and I will invest in Marvel again soon. Hey, the money is really worthless.
However, although the position has been completed, Chen William couldn't help thinking about the price of gold, for fear that if there is a mishap and the price of gold fluctuates a little, he will bury his funds.
The consequence of this was that she would occasionally wander off on a date with Paris at night, which made her quite dissatisfied.
Paris went back to New York again. After she went to Lindsay Lohan's house for a party with her last time, and she got drunk, William Chen taught her a lesson and told her that she was not allowed to drink any more. ban.
Paris was naturally dissatisfied with this ban, but when she saw William Chen's serious expression and raised hand, he still chose to obey.
Of course, there is still a small temper, and the next day, I left New York with the bodyguards to go on a field trip to her perfume workshop.
Now that she is back in New York again, Paris is also ambitious. She said that she plans to shoot another reality show, and then find a TV station to broadcast it to continue to increase her popularity and promote her brand.
Uh, of course William Chen can't escape. The reality show that Paris is currently planning is called "Paris and Her Friends". In order to arouse the audience's curiosity, there will definitely be some more controversial friends among them. Appear.
After hearing Paris finish speaking, he had to admit that this girl really knew what the public wanted to see most, because at present, among the guests she expected to invite, there was Ivanta... In William Chen and the two women After the scandal came out, their previous relationship was also speculated by many reports, and even many fans directly left a message on Paris' Twitter to ask. Before Paris, there was no positive answer, but it was officially said that the two were still are good friends.
Unexpectedly, this time, Ivanta was directly included in her reality show. Chen William was very skeptical, and the other party would not agree so easily.
"What did you say? Ivanta agreed?"
What kind of trouble is this? William Chen didn't understand.
However, after having a relationship with both women, he rarely mentions the other in front of one of them, so in fact, he is also a little confused about the current relationship between the two women. , William Chen couldn't help but be a little optimistic.
Paris' next words shattered his illusions:
"William, do you think if we fight on the show, will the ratings explode? I've figured it out, I'm going to wear a hat that day, so that she can't catch my hair, I'll definitely pull her clothes off, hum ."
Want to be so hot? But there is one thing to say, Chen William is really looking forward to what happened in that scene. Of course, the premise is that he just makes himself optimistic. If it is broadcast, the fun will be great, and it will not be the headlines of the national newspapers for several days in a row. .
"And you, William, you'll be a guest too, so behave better then."
It doesn't matter if the guest is a guest or not. Anyway, Paris has his own investment, and if he can help her, William Chen is also very happy. But the premise is, don't let yourself and Ivanta have a show with Paris at the same time.
But when it comes to Paris' reality show, William Chen thinks of his cousin Roger. I don't know if he's done it now. In addition, his relationship with Kadaishan, I am afraid that when Paris's reality show invites Kadaishan, he will also be on camera? Thinking of his uncle's expression when he saw this scene William Chen felt like laughing.
Fortunately, Chen William's concentration is not bad, at least he thinks so. Mainly because he was able to hold on to not looking at the trend of gold prices when he was in a free fight with Paris. It was only after the end that he took a quick glance. Fortunately, he never crossed today's high point.
He thought of the interesting rumors he had heard in his previous life, that is, the self-cultivation of futures traders lies in the fact that he is always concerned about the market during the interval between exercising with his girlfriend, er, it is too real.
Chen William's worries continued until the next morning, and he finally breathed a sigh of relief——
Friday, October 16.
HSBC said defaults on subprime mortgages were far worse than expected.
New Century Financial Corporation said that the company pre-lost in the fourth quarter of 2009, and the company failed to correctly estimate the severity of losses suffered in the first three quarters of 2009 in housing loan defaults and arrears. Its shares fell more than 35% by the end of the day.
Seeing this news, William Chen realized that the subprime mortgage crisis was about to explode.
In the morning, after coming to Meta Investment Company, William Chen asked John Paulson to close all his gold futures positions today. The current price of gold is around $1,100 per ounce. Close the position.
So the trading team started a busy operation. At two o'clock in the afternoon, all gold futures positions were closed. The closing price was around $1,110 per ounce, and the current account balance was $2.163 billion.
Then he left $363 million in the account and put the remaining $1.8 billion on a 5% margin ratio, or 20 times leverage, above $1,120 an ounce, and began shorting gold.
When John Paulson heard William Chen's request, his eyes widened and he hesitated for a moment.
This is $1.8 billion. With a leverage of 20 times, it will leverage a capital of $36 billion. You must know that the daily trading volume of New York gold futures is only a little more than $1 trillion, and these funds have already taken up more than one-thirtieth of the daily trading volume!
The most important thing is that as long as the price of gold rises by more than 5%, it does not need to reach this figure, and the funds of 1.8 billion US dollars will face a liquidation, which will be wiped out.
However, after William Chen firmly repeated his request again, John Paulson chose to obey his order and began to direct the trading team to start operations.
Although Chen William is very calm at this time, the pressure in his heart is also very great. This is 1.8 billion US dollars, which is close to 12.3 billion Chinese dollars. This figure can occupy the top 30 in this year's Forbes China Rich List.
And William Chen's $1.8 billion here is all cash!
If, just if, the data of the [Volatility Master Experience Card] is deviated from reality, then the 1.8 billion US dollars is likely to be wiped out.
On the trading day, the trading hours of New York gold futures are 24 hours a day, so there is still time to open positions.
As time went by, William Chen saw that at 14:35 today, the price of gold reached the current highest price today, but this price was not the previously predicted $1122 per ounce, but a slightly lower $1117 per ounce. per ounce.
Chen William breathed a sigh of relief, at least in terms of time, the prediction was accurate, and the price was slightly lower, it should be the influence of his short-selling funds this time.
However, shorting such a large amount of money is not an easy task. William Chen has been on the side of Meta Investment Company, waiting for the final result. Finally, four hours later, John Paulson completed the operation. The average price of shorting is about $1,106 per ounce.
Although the position has been successfully established, there is still a doubt lingering in William Chen's mind, that is, after the gold price reached a high point today, what happened later, causing the price to drop so much?
Anyway, so far, there has been no bad news about gold in the market, and after reaching $1,117 per ounce, the price of gold has only fallen slightly, but it still remains above $1,100. It can re-break through today's highest price of $1117.
This situation is also very nervous. After all, William Chen uses 20 times leverage. As long as the gold price rises by 5%, the position will definitely be liquidated. With his current position, as long as the gold price exceeds 1160 US dollars per oz, his $1.8 billion is about to be wiped out.
Now William Chen knows why those gamblers are addicted to it. This feeling of life hanging by a thread, the tension is really nervous, and the stimulation is also really exciting. Every time the gold price fluctuates upwards, dopamine will be secreted frantically, and the heartbeat will speed up. In the long run, it will definitely affect normal judgment. I am afraid that in order to pursue this kind of stimulation, there are many people who want to walk a tightrope on the cliff.
Up to now, Chen William still has 363 million US dollars of funds in his company account, of which 16.67 million US dollars will be transferred to Siri Company. When the company was acquired before, there were still 16.67 million US dollars of capital injection remaining, and now there is money in the account. Yes, it should be turned around.
There is also 60 million, which is the money invested in the two "Hangover" movies, which will be transferred to the account of Future Pictures later.
In this way, there is another 286 million US dollars left, and I will invest in Marvel again soon. Hey, the money is really worthless.
However, although the position has been completed, Chen William couldn't help thinking about the price of gold, for fear that if there is a mishap and the price of gold fluctuates a little, he will bury his funds.
The consequence of this was that she would occasionally wander off on a date with Paris at night, which made her quite dissatisfied.
Paris went back to New York again. After she went to Lindsay Lohan's house for a party with her last time, and she got drunk, William Chen taught her a lesson and told her that she was not allowed to drink any more. ban.
Paris was naturally dissatisfied with this ban, but when she saw William Chen's serious expression and raised hand, he still chose to obey.
Of course, there is still a small temper, and the next day, I left New York with the bodyguards to go on a field trip to her perfume workshop.
Now that she is back in New York again, Paris is also ambitious. She said that she plans to shoot another reality show, and then find a TV station to broadcast it to continue to increase her popularity and promote her brand.
Uh, of course William Chen can't escape. The reality show that Paris is currently planning is called "Paris and Her Friends". In order to arouse the audience's curiosity, there will definitely be some more controversial friends among them. Appear.
After hearing Paris finish speaking, he had to admit that this girl really knew what the public wanted to see most, because at present, among the guests she expected to invite, there was Ivanta... In William Chen and the two women After the scandal came out, their previous relationship was also speculated by many reports, and even many fans directly left a message on Paris' Twitter to ask. Before Paris, there was no positive answer, but it was officially said that the two were still are good friends.
Unexpectedly, this time, Ivanta was directly included in her reality show. Chen William was very skeptical, and the other party would not agree so easily.
"What did you say? Ivanta agreed?"
What kind of trouble is this? William Chen didn't understand.
However, after having a relationship with both women, he rarely mentions the other in front of one of them, so in fact, he is also a little confused about the current relationship between the two women. , William Chen couldn't help but be a little optimistic.
Paris' next words shattered his illusions:
"William, do you think if we fight on the show, will the ratings explode? I've figured it out, I'm going to wear a hat that day, so that she can't catch my hair, I'll definitely pull her clothes off, hum ."
Want to be so hot? But there is one thing to say, Chen William is really looking forward to what happened in that scene. Of course, the premise is that he just makes himself optimistic. If it is broadcast, the fun will be great, and it will not be the headlines of the national newspapers for several days in a row. .
"And you, William, you'll be a guest too, so behave better then."
It doesn't matter if the guest is a guest or not. Anyway, Paris has his own investment, and if he can help her, William Chen is also very happy. But the premise is, don't let yourself and Ivanta have a show with Paris at the same time.
But when it comes to Paris' reality show, William Chen thinks of his cousin Roger. I don't know if he's done it now. In addition, his relationship with Kadaishan, I am afraid that when Paris's reality show invites Kadaishan, he will also be on camera? Thinking of his uncle's expression when he saw this scene William Chen felt like laughing.
Fortunately, Chen William's concentration is not bad, at least he thinks so. Mainly because he was able to hold on to not looking at the trend of gold prices when he was in a free fight with Paris. It was only after the end that he took a quick glance. Fortunately, he never crossed today's high point.
He thought of the interesting rumors he had heard in his previous life, that is, the self-cultivation of futures traders lies in the fact that he is always concerned about the market during the interval between exercising with his girlfriend, er, it is too real.
Chen William's worries continued until the next morning, and he finally breathed a sigh of relief——
Friday, October 16.
HSBC said defaults on subprime mortgages were far worse than expected.
New Century Financial Corporation said that the company pre-lost in the fourth quarter of 2009, and the company failed to correctly estimate the severity of losses suffered in the first three quarters of 2009 in housing loan defaults and arrears. Its shares fell more than 35% by the end of the day.
Seeing this news, William Chen realized that the subprime mortgage crisis was about to explode.
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