Tao Liangchen
Chapter 190 One Must Have Ideals
Projects like Sihai International’s cultural tourism city might not show results for three to five years.
However, the funds that Vice President Zheng Yongwen was managing for Su Yehao had new developments just two days after their last meeting.
On Thursday, October 23rd, his assistant called Su Yehao.
He told him that the New Taiwan dollar was plummeting! In just a few hours, they had earned over 77 million from the foreign exchange futures market, and they had already closed out their positions and taken delivery, putting the profit in his pocket.
And that wasn’t all.
While shorting the New Taiwan dollar, Vice President Zheng Yongwen also allocated some funds to short the Hang Seng Index.
Hong Kong stocks plummeted after opening today.
Not counting previous gains, Su Yehao had made nine figures in profit in just the past week.
Calculating the total profit to date, after deducting the agreed 5% commission for Zheng Yongwen, there was still over 100.2 million left...
When Su Yehao heard the news, he couldn't help but gasp.
He finally understood why so many people, even knowing the extreme risks, still chose to plunge headfirst into this industry.
At this moment, Su Yehao was on the HKU campus.
He immediately hurried to the library, flipped through today's latest newspapers, and found that the front pages were all about the collapse of the New Taiwan dollar.
To figure out what had happened, Su Yehao suppressed his excitement and patiently read through the news.
In short.
International hot money, led by George Soros, had once again targeted Hong Kong, mainly focusing on the Hong Kong dollar.
Hong Kong hadn't made any significant moves yet, but the island had been unable to hold on, and had announced that it would abandon the old plan of pegging to the US dollar and implement a floating interest rate.
This directly led to the collapse of the New Taiwan dollar, which plummeted in just a few hours.
According to the newspaper, its unexpected decision to abandon its defense caught everyone by surprise.
Previously, the island had spent about $5 billion, and the currency had depreciated by about 3.3%, but its foreign exchange reserves still had more than $80 billion, and it was generally estimated that they had the ability to defend the New Taiwan dollar.
But today.
It suddenly lay flat and abandoned all efforts to stabilize the exchange rate.
Su Yehao called John Chow and asked him to check the Hang Seng Index's gains and losses. He found out that international hot money had begun to consolidate its forces and focus its strength on the Hong Kong dollar, causing the Hang Seng Index to plummet by 7.6% at the opening.
This meant that in addition to the original profit, shorting the Hang Seng Index also brought considerable gains.
He hadn't mentioned it on the phone, so Su Yehao didn't know exactly how much he had earned. This experience felt like robbing money.
As previously mentioned, earning one million from 100,000 was much more difficult than earning one million from one million.
And this time investing in Zheng Yongwen, if the plan to short the Hang Seng Index went smoothly, the profit margin Su Yehao would earn would be at least 200%, in just over ten days. The total return was basically the same as holding Yahoo stock for half a year with great effort.
He wasn't in the mood for class anymore.
After quietly telling Nangong Tian this good news, Su Yehao immediately skipped class and went to Vice President Zheng Yongwen's company, where he had gone last time, to see how to arrange things next.
The last time, with a profit of over 30 million, he could choose to let go and continue to gamble.
But now, his appetite was satiated, and he just wanted to cash out as soon as possible, and at most take out some of the gains to continue gambling.
What Su Yehao wanted was just the start-up capital to support the company's development, and he had basically gotten it now. There was no need to be greedy like others, lest he end up with nothing.
This much profit was enough to do many things.
For example, investing in the tourism company he co-founded with Jiang Yu's father and his buddies, and adding to his position to buy Yahoo on the dip.
Furthermore, he would advise the little girl and co-invest with her to establish a film company, and give Nong Qingying more money to make her vice president more worthy of the name.
Others needed to take risks for the future, but Su Yehao didn't need to be too ruthless.
Even if he continued to develop at the current slow pace, the probability of success was still very considerable. Stability was the most important thing.
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On the way, he unexpectedly received a call from Vice President Zheng Yongwen.
After Su Yehao answered the phone, he laughed and said, "President Zheng is indeed a well-known financial mogul! I've heard the news, and I'm on my way to your company to thank you in person!"
He immediately buttered him up. The other party had made him so much money, so it was only right to praise him.
At this moment, Su Yehao was in a very good mood, even brighter than the weather today.
Zheng Yongwen asked on the phone, "You're coming? I was just about to meet with you. There's something I need to talk about."
"Okay, let's talk when we meet."
Driving himself, Su Yehao subconsciously felt that his aunt's ex-boyfriend wanted to talk about future investment plans.
Although making money like this was too amazing, and the possibility of continuing to successfully short was relatively high, Su Yehao, after considering it, still insisted on the idea of cashing out and leaving after making a killing.
The returns were high, but the risks were equally significant.
He knew that the overall trend would continue to decline, but it was difficult to grasp the short-term trends. Maybe it would plummet today, but rebound tomorrow, and be jointly crushed by the bulls.
He prepared his speech along the way.
When he saw Zheng Yongwen, before Su Yehao could say anything about withdrawing his investment, Zheng Yongwen took the lead and said, "The Hang Seng Index fell by 10.1%. I sold everything. I made so much money for you. Don't be greedy anymore. Eating and drinking will be enough for a long time."
"...Why did you sell everything?" Su Yehao asked.
Zheng Yongwen replied calmly:
"Luck is hard to come by repeatedly. I can't grasp the situation. Soros and the others will have a hard time succeeding this time, and they may withdraw at any time. When the shareholders have confidence, the possibility of a rebound is relatively high, and I have serious business to attend to, so it's not suitable for me to personally enter the market."
"Isn't making money serious business?"
Smiling and shaking his head, Zheng Yongwen said:
"The situation in the financial field has been changing rapidly recently, so I have to prepare in advance... I can give you all the profits, and I don't want the 5% commission we agreed on before, but I want to ask you to do me a small favor. Spread the news that I made money for you and help me build momentum. I'll arrange the media, how about it?"
Hearing this.
Su Yehao immediately understood.
This honorary vice president's ambition didn't seem to be in making money itself, but rather in being interested in being a consultant to the Hong Kong government.
Considering that once he became the chief consultant, he would have the opportunity to manipulate hundreds of billions of dollars in funds and, to some extent, influence a "financial war."
For Zheng Yongwen, a financial scholar who was no longer short of money, the current opportunity was indeed quite valuable, and he might only encounter it once in his life.
People, after they have enough to eat and drink, always need some ideals.
The current financial battlefield was the opportunity that Vice President Zheng Yongwen dreamed of, where he could show off his skills.
The so-called "building momentum" was naturally also to allow him to successfully become the chief financial advisor. In the face of this matter, even a few million Hong Kong dollars in commissions could be waived by Zheng Yongwen.
Su Yehao was much more vulgar.
Thinking of making a few million more, he didn't say anything and nodded with a smile:
"Don't worry, I will definitely praise you to the skies. If anyone dares to compete with you, I will point at his nose and call him a good-for-nothing..."