My absurd experiences in North America over the years

In the first week of May, Li Fu answered a video call from Lina in the morning light of his New York office.

"Mr. Li, as of yesterday's market close, the unrealized foreign exchange profit is approximately US$6.2 million," Lina reported in the video. "The Euro contributed about US$1.8 million, the Australian Dollar about US$3.5 million, and the Japanese Yen contributed relatively less, about US$0.9 million."

Her tone no longer carried the suppressed excitement she used to have.

After all, he had made a huge bet of $50 million with 400 times leverage, betting 80% of the euro against the dollar in a crash, and made a profit of 3 billion in one year.

This is also the only extreme trading strategy in the entire market that did not rely on shorting dollar assets to achieve huge profits during the financial crisis. Goldman Sachs, JPMorgan Chase, and the prototype of the movie "The Big Short" all shorted dollar assets without exception.

That's why industry leaders like Thomas Lee were so curious about him.

"The unrealized gains in US stocks are about 3000 million, and in gold they are about 2000 million, for a total unrealized gain of about 6.7 million." Lina finished her work report.

The unrealized profit of 670 million, less than a month after the initial investment in early April, is nothing short of a miracle to outsiders.

However, the entire Forrest Capital trading team remained calm, having experienced even more thrilling moments when a one-point fluctuation in the Euro/Dollar exchange rate amounted to an average of $1.8 million.

The market conditions at that time were like a "tsunami," while now they are just minor fluctuations compared to that.

Li Fu's performance was also unremarkable, because he already knew the general trend, but was just unclear about the details.

He instructed Lina that if the market experienced a significant pullback, she could continue to add to her position based on the unrealized profits, as long as she maintained a position of 10%.

In the second week of May, Ivanka appeared at the door of Li Fu's office, looking very proud.

"I just came from my dad's place. He was having a video conference with his team in London, and halfway through the call, he suddenly asked me to look at my phone."

"What did he send you?" Li Fu asked, a little curious.

"Fund trading data," Ivanka said, sitting down in the chair opposite him, her eyes filled with admiration and adoration, "he read it aloud right there in the conference room, 'Did you know that Li made the fund over 600 million in just one month?'"

She couldn't describe the scene in words.

The entire audience was stunned and speechless.

Li Fu leaned back in his chair, his expression unchanged. "Your father isn't very good at keeping secrets for others."

But he wasn't surprised at all.

CP's personality is such that he must let others know that he is winning. If he wins big but others don't know, what's the difference between him and someone who is secretly in the dark?

"He wasn't revealing your secret," Ivanka shook her head slightly, "he was showing off, telling the London team that it was 'our' fund."

Li Fu knew the true meaning behind CP's use of the word "we." It was a deep commercial bond and a public declaration that he and CP were one, and that he was deeply involved.

"Of course, this is indeed our fund," he said, looking at Ivanka and reiterating that point.

They are one, one in every sense of the word.

In mid-May, when the market experienced its first correction, Li Fu did not tell anyone that he was increasing his holdings.

But CP got the information from somewhere, perhaps it came from JPMorgan Chase, or it could be the speculation of some industry leaders, or even CP's own conjecture.

In a phone call that evening, he asked directly, "I heard you added to your position when the Australian dollar fell?"

"Pullbacks are normal. An upward K-line is never a straight line, but rather a zigzag upward movement. Pullbacks are opportunities to add to your position. Not adding to your position would be a waste," Li Fu explained briefly.

There was a two-second silence on the other end of the phone, then CP's voice came through with a unique excitement, "Do you know how many people on Wall Street are guessing your next move? I attended a dinner party yesterday, and three people came up to me and asked, 'Does Li Fu's fund still have any quota?' I said I didn't know, you'll have to ask him yourself."

He believed in Li Fu completely, and became increasingly convinced that Li Fu possessed the ability to foresee the future.

Li Fu knew he couldn't let the CP keep a low profile, but since it wouldn't have much of an impact anyway, he simply let it be.

The joint fund will make a fortune again. This time, CP will really win big, until they win so much they won't even realize it.

"You can't just agree to anything. Our foundation has very high entry requirements," he said, making only this one request.

"Don't worry, I know what I'm doing," CP said. He just likes to brag and show off, but he doesn't like to share profits with others.

In the last week of May, the unrealized profit reached $10 billion.

The benefits of 400x leverage become obvious at this point, with profits snowballing.

Ivanka watched Li Fu across the table for a long time during lunch. She had only heard of his legendary trading skills before, but now she witnessed it firsthand.

How can someone be so amazing?

In just one month, the total fund amount has almost doubled?

Even starting a printing press wouldn't be this fast, right?

"What's wrong?" Li Fu felt a little strange being looked at by her.

"It's nothing," Ivanka said, cutting a small piece of steak. "My father just called and said your fund's unrealized gains have returned to $10 billion. He used about seven or eight different words to describe 'amazing' on the phone, which you know is rare of him."

Li Funeng could imagine what the couple would look like, and he couldn't help but laugh out loud.

"He always praised you as the best money-maker he's ever met. He's never used that phrase to describe anyone, not even the world's richest man, Bill Gates," Ivanka said without exaggeration.

CP is an extremely arrogant person, that much is certain.

Li Fu picked up his water glass and took a sip, without responding, because this was just the beginning!

CP will eventually run out of words.

In early June, news of the rapidly growing unrealized profits spread even further. Jackson mentioned on the phone that when he recently attended a private gathering in New York's financial circles, people had already started using "Li Fu's fund" as a starting point for conversation.

It's not about inquiring about whether I can join, but rather using it as a benchmark to judge each other's positions.

Supporters say "that's genius," while skeptics say "that's risky," but no matter which attitude one holds, they cannot evade one fact.

In less than two months, the unrealized profit exceeded one billion US dollars, which is rare at any time.

Most people would choose to close their positions at this point.

Even the most experienced traders will close out most of their positions to lock in profits, after all, the gains have almost doubled.

Jackson then changed the subject, "By the way, when I mentioned you at the internal meeting in the private banking department last week, several of my longtime colleagues sitting next to me looked a little awkward. Do you know why?"

"Why?" Li Fu asked casually.

"Because when you used 400x leverage, they said to me that this young Chinese man would only last six months before his account was wiped out, and you ruthlessly proved them wrong," Jackson said with a laugh.

He was naturally happy; the higher the fund's returns, the greater the likelihood that he would succeed his old boss and take over the private banking division.