Reborn Xiangjiang as a Tycoon

Chapter 297 The consequences of greed

Early in the morning, Lin Baicheng and Yamaguchi Momoe came down from upstairs. The housekeeper Dorchi informed Lin Baicheng that it was Iwasaki Mineryu who called and asked Lin Baicheng to call back after he woke up.

"When did he call?"

Lin Baicheng asked aloud, while walking towards the landline phone. The reason why he asked this was because the time in Tokyo is 16 hours ahead of Los Angeles, and the time difference between the two places is not small.

Dorchi replied: "At eight o'clock in the morning."

"So the call was at twelve o'clock in the night?"

Lin Baicheng was a little surprised. He looked at the wall clock on the wall and found that it was almost nine o'clock in the morning. In other words, it was almost one o'clock in the night in Tokyo, and Iwasaki Mineryu might have fallen asleep by this time.

Dorchi said: "Mr. Iwasaki said that no matter what time you get up, sir, after you learn about this, you should call and reply."

"So urgent?"

Lin Baicheng sat down on the sofa and picked up the handset of the telephone with the international dedicated line.

"What could happen?"

Yamaguchi Momoe was very confused. As Iwasaki Mineryu, no matter how big things happened, he could handle it well.

"We'll find out after we get on the phone."

Lin Baicheng said making a call.

After a while, the call was connected.

"Is it Mr. Lin?"

Iwasaki Mineryu's voice sounded a little hoarse on the other side of the phone.

"It's me."

Lin Baicheng responded: "Iwasaki-kun, did something happen?"

"It has something to do with gold futures. The international gold price has fluctuated violently these days. Lin, do you know about it?" Iwasaki Mineryu's voice was full of bitterness.

"Well, I'm paying attention to them all."

Lin Baicheng was indeed paying attention. After all, his gold futures had only been sold for a few days, and he wanted to know whether he had made a loss or made the right decision.

At the beginning, Lin Baicheng made a loss on the sale, and the international gold price broke through the price of 240 US dollars per ounce. After that, it continued to rise, and then accelerated the sprint the day before yesterday in New York time, rising to a maximum of 246.6 US dollars per ounce.

However, also in the afternoon the day before yesterday, after the international gold price rose to a high of 246.6 US dollars per ounce, it turned straight downward and fell to 234.8 US dollars per ounce by the settlement of the day.

The international gold price on this day started from 242.18 US dollars per ounce. It rose by 1.825% at the highest price, but the actual increase or decrease of the day was a decrease of 3.047%. If calculated from the highest point, the amplitude of the day

reached nearly 5 percentage points.

This was the trend the day before yesterday. Yesterday, the international gold price continued to fall, and the fall was quite fierce. It fell to 224.3 US dollars per ounce, a drop of 4.472%, and fell back to the shock range of the previous few days.

The problem is that the international gold price, which took several days to rise, fell in two days. This shows the strength of the short sellers. It is conceivable that the international gold price will fall to a certain extent in the future. As for the specific price to which the bottom will be,

No one knows now.

"Lin Jun, you notified me after you closed your long order. At that time, the gold price was still rising. My team told me that the gold price would still rise. I was greedy and trusted their judgment, so."

Lin Baicheng already knew the unfinished meaning of Iwasaki Mineryu's words, which was that he did not close his long orders and still held long gold futures.

"Iwasaki-kun, there is no need for you to worry. If I remember correctly, your long order was purchased at around 200 US dollars per ounce. Now there is still an increase of more than ten percent. With the five times leverage you used,

If you think about it, a profit of US$50 million is quite a lot."

Lin Baicheng expressed his comfort, feeling that although Iwasaki Mineryu had made less money, there was no need to think too much, after all, he was still making money.

"Mr. Lin, I'm telling you the truth."

Mineryu Iwasaki on the other side of the phone was silent for a while, and then said: "When the gold price broke through the price of 240 US dollars per ounce, I added a long order of the same amount."

Lin Baicheng was speechless after hearing this: "A long order of US$100 million in principal and US$500 million in leverage?"

".right!"

"In other words, your average cost price is around US$220 per ounce, and today's gold price is close to your cost line."

Lin Baicheng did not expect Iwasaki Mineryu to be so greedy, and he did not believe his judgment at all. Otherwise, how could he close the long order, but Iwasaki Mineryu increased the number of long orders, taking the completely opposite path to Lin Baicheng.

"Yes!"

Iwasaki Mineryu said in a low voice: "I no longer trust the judgment of those under my command. I just want to hear your thoughts, Mr. Lin. I also hope that Mr. Lin can give you some advice. I am very grateful."

"Iwasaki-kun, I can't tell you what the gold price will do next, because I don't know the specific trend of the gold price next. If I knew, I would close my long orders at a higher price, and then open a short position at a high price.

I’m single, but it’s a pity that I don’t even know.”

"What I can tell you is that if the price of gold continues to fall, I will start buying long orders near $210 per ounce. As I have always told you, I still say the same thing, with a one-year or even longer-term horizon.

Looking at time, I am bullish on the price of gold, and I believe it will break through the price of $300 per ounce sooner or later."

Lin Baicheng did not tell Iwasaki Mineryu how to operate, but the meaning of his words was actually quite obvious.

"Lin Jun, I believe you. I will continue to hold these long orders for the time being!"

Iwasaki Mineryu decided to trust Lin Baicheng's judgment. If the price of gold really continues to fall, at least Lin Baicheng will accompany him to lose money, not just him. Iwasaki Mineryu will make people pay attention to Lin Baicheng's account at Mitsubishi Bank.

When the price of gold reaches around US$210 per ounce, he will know exactly whether Lin Baicheng has bought it or not.

"Iwasaki-kun, let me start with the ugly words. I can't guarantee that the price of gold will not fall below 200 US dollars per ounce. I can only say that if this happens, you will not be the only one who loses money, but I will also be the one who loses money."

Myself!"

Lin Baicheng said the ugly things first, and he didn't want to be blamed later.

"Don't worry, Mr. Lin. If the price of gold really falls below 200 US dollars per ounce and falls to a lower price, that will be my own decision and has nothing to do with you, Mr. Lin."

Iwasaki Mineryu expressed his understanding.

"As long as you understand it, you can figure out how to operate it."

After that, the two didn't talk any more and ended the call.

When going to have breakfast, Lin Baicheng asked his secretary Qin Lan to contact Vivien Kelly and ask her if she could resign from Merrill Lynch sooner. Vivien Kelly had agreed to work for Lin Baicheng, but she said it would take about half a month.

time to complete the resignation procedures.

Lin Baicheng did not fool Iwasaki Mineryu. If the gold price fell to 210 US dollars per ounce, no matter what happened next, his funds would enter the market and go long.

Now, Lin Baicheng hopes that Vivien Kelly can come over quickly to help him set up an offshore company so as not to miss the buying period for long gold futures.

(End of chapter)