MTL - Wall Street Legend-Chapter 383 Hedging those things (1)
Chapter 383 Hedging those things (1)
Inside the company, no one suffered losses except for the hedge fund, so this kind of matter cannot be involved in the Securities and Exchange Commission. There have been many examples in history that this agency has come forward to investigate because of the mistakes of traders.
Tom hasn't come in yet, but Mr. Wu Di will come soon.
This rare Chinese executive in the American financial circle has taken over part of the business from Ye Dongqing since he left Citibank and came here. He has rich management experience and previous achievements. , it seems to be doing well, at least better than Ye Dongqing imagined. He hasn't come to the company recently, but he can also know that this kind of transaction is still going on normally, and he has made a little money from offshore RMB transactions, successfully making up for it. some losses back.
Hedge funds are more challenging for Ye Dongqing. He can predict long-term fluctuations, but it is difficult to avoid the pits in front of him.
At the end of last year, the renminbi experienced a round of exchange rate rises, the one with a relatively large range. When he entered the market, he made a lot of money. It happened to be in a bad policy period, and he lost more than 200 million US dollars. Later, he made up for it. , and managed to control the loss at about 120 million US dollars. If there is no hedging, the loss will be even greater.
Until now, the company is still in a profitable state, with a total gross profit of over US$900 million for more than a quarter, mainly due to the sharp rise of Google in the second half of last year and the beginning of this year. A sum, Ye Dongqing seized the opportunity accurately, it is indeed more interesting in comparison, it seems to be gambling continuously, and betting many handicap, every day is like sitting at the gambling table waiting for the lottery.
"It happened just in time. I had someone make a pot of iced extract for me. Recently, I would watch the ice water melt and drop on the Mandheling coffee bean powder at home. It took several hours to harvest a cup of coffee. The taste of iced extract Not bad, but not as glamorous as ice drops."
Ye Dongqing poured a glass for him while he was talking, and added after remembering something: "Recently remember to help me see more about Qualcomm. Their executives are very interested in iTouch, and they will probably produce chips for this product. In the next one or two years It is likely to detonate a wave of market conditions, now enter the market early, otherwise I will be convicted of insider trading, and I will be very passive."
Apple’s iTouch has been released, and the news has already been spread. If you invest in Apple before then, you will probably be identified as insider trading.
Still groping for mutual cooperation, far from the tacit understanding between Mr. McCord and Ye Dongqing. After Wu Di said thank you politely, he replied: "You mentioned to me before that I also pay attention to Qualcomm. , Their technology is really good, and their revenue is also within a reasonable range. I will let people pay attention to follow up.
Recently, I had a deeper understanding of other hedge fund companies. I asked a few former friends to play together. I found that many bosses are walking in a gray area. The one you caught, the East District prosecutor and I are old friends from the fraternity, he asked me to tell you that there is no need to learn from others, the money is already too much to spend. "
Ye Dongqing smiled, and said: "Was Bernard Madoff short of money before? With a wealth of two to three hundred million dollars, plus a lot of age, it seems logical that there is no shortage. But he still took the risk. Your friend missed the point. Money is only one aspect, and the more important thing is the sense of accomplishment. My colleagues are all gamblers. The higher the achievement, the more obsessed with this profession. They will withdraw, and wandering in the gray area can also make them feel stimulated.
Don't worry about me, I'm different from them, a serious businessman who doesn't like the feeling of being watched by prosecutors all the time. "
This is the truth.
I used to worry about being scared for so long, but now I finally get out completely, and it makes no sense to go back to rolling in the quagmire. Compared with Danshui Investment Group, hedge funds are just a small and insignificant industry. Time is so valuable, why put yourself in it .
After leaving Citibank, Mr. Wu Di was quite satisfied with all aspects. What worried him most was that Ye Dongqing was hiding from him and imitating other people's insider trading. Hearing this kind of words, he was a little relieved, and then he said: "How about the crude oil market, you have been paying attention to it recently. Several traders below suggested to me to be short-term. There is still a lot of money lying on the company's books with nowhere to go. It should be no problem to be safe."
After hearing this sentence, Ye Dongqing turned on the terminal to check the real-time oil price data and the recent trend. Since this quarter, there have been two small peaks, and then fell back quickly, showing an overall upward trend. The current WTI price is 47 US dollars 60 Two cents is a small high.
It was the beginning of 2005.
If the trend is the same as in the previous life, then the oil price will remain high until it rushes to the terrifying numbers that make people desperate. After a short judgment, he also tends to be more cautious: "Hedge, for now, be conservative and bullish. It just fell, and the recent trend is very strange. I will increase investment after I study the current situation, and don’t be too aggressive for now.”
Compared with these things, Tom's side is just a small matter.
After talking about other things first, Ye Dongqing brought the topic to today's accident, and asked Wu Di to make use of the topic, and manage it more strictly in the future.
The financial industry is different from Silicon Valley. Programmers need a relaxed environment to inspire inspiration, but it is better for the hedge fund industry to adopt a high-pressure management model. If they relax, these traders will go to heaven.
The door of the office.
Trader Tom walked in with a dead face at this moment, and stood there with his head bowed. An elite in the eyes of others, he was completely despondent at the moment, waiting for the baptism of a storm.
Ye Dongqing said directly to him: "Do a drug test, talk to a psychiatrist for ten hours in a month, and accept questions from the management committee. If there is no problem, I can keep you, but after all, you have caused investors to lose money." With so much profit, my punishment is no bonus for three years, all transactions within half a year must be reviewed and approved by Wu, and I will be equipped with an intern assistant.
If you make a profit of more than 100 million US dollars in three years, you can get dividends as usual. I am very disappointed to make such a low-level mistake. If you are not satisfied, you can choose to resign, but I don’t think you are such a coward. You can do it. It's far more than what it is now. Let's take a month's rest before coming back. The vacation starts today, and there will be no salary during the period. "
Mr. Wu Di looked at him and asked in Chinese: "Not fired?"
"Forget it, I fired him. It is estimated that it will be difficult to find a job in New York in the future. I will only be merciful this time, and I will not be an example."
Ye Dongqing replied in Chinese
(end of this chapter)
