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The cake is only so big. If someone else eats part of it, it means you will eat less. How is this okay?

It is very difficult for the main funds to completely abandon other people. It is easy to say that the operation of a security is targeted at one market. Do you want to go it alone? Of course not.

Lei Hao needs teammates, but no matter which financial institution he is, one thing is very clear: his teammates are also the ones who do the calculations.

There are no emotions in the financial market, only interests!

"Short sellers are crazy." Leo's whirring voice kept ringing in the earbuds: "Even if the KOSPI index falls, don't they want any chips?"

"Buy!" Lei Hao's only instruction was this.

"This is unreasonable. Their risk exposure is too great!" Leo was a little surprised. "Lei, you have to read the document I sent you on Tuesday! You must read it!"

"I've seen it, and I know what you mean, but if they don't suppress their positions, where will the selling come from?" Lei Hao simply replied: "It's impossible for us to keep our funds in the Korean capital market for a long time. They Spot this!"

"Okay." Leo was speechless.

How quickly does the Thunder make money? That's quite appalling.

Even if the KOSPI index falls, Thunder has suffered a book loss. With Thunder's profit and development speed, will Lei Hao be willing to bear the loss and let the funds stay in the Korean capital market? Definitely not.

If Lei Hao's books suffer losses, his Asia-Pacific strategy determines that his funds cannot stay in South Korea for a long time. This is what short sellers are targeting.

Even if Lei Hao is willing to bear the book losses and let the funds stay in South Korea, waiting for a turnaround, the short sellers will not mind. They would rather Lei Hao does this than let Lei Hao go and let him cause trouble in the Asia-Pacific.

Therefore, the strategic goal of the short sellers is not only to make money, but the deeper goal is to slow Lei Hao's footsteps in the swamp of South Korea, and then... find an opportunity to strangle him.

"Twenty billion US dollars is enough to build an aircraft carrier battle group, and what I hold is cash. I go to buy national bonds, which is enough for the country to get a lot of benefits. I can't fall into trouble in South Korea!" Lei Hao made a mental calculation. account.

In the South Korean capital market, stocks, stock indexes, options, futures, foreign exchange and other markets are experiencing violent fluctuations. A large amount of funds are being used to hedge and open positions, and both long and short parties are exposed to increasing exposure risks.

Take bulls as an example. They hold a large number of stocks, but they also hold a large number of hedging contracts, so the risk is not great. For example, if there are US$10 billion in stocks, there are also US$8 billion in corresponding hedging contracts. They also exposed $2 billion in risk exposure.

But when selling stocks, shorting futures, selling call options, buying put options, etc. are all done together, the risk exposure quickly increases.

I sold $100 million worth of stocks, and then sold $100 million in face value futures. I also sold $100 million in call options and bought $100 million in put options. That’s 400 million.

As for the rules of the Korean securities market, large institutions have many ways to get around the so-called regulations that each account can only hold 5,000 futures contracts. As long as it does not affect retail investors and keeps the volume within the default range, countries like South Korea In countries with almost completely open capital markets, the costs and prices they have found are higher than the price of laissez-faire.

The confrontation in the capital market is certainly not a hedging in the stock market alone.

Lei Hao's risk exposure is gradually exposed to opponents. Before the 13th, Lei Hao's positions were as high as 40 billion U.S. dollars, and the stock market was 8 billion U.S. dollars. Others were in fields such as futures, options, and even foreign exchange with higher leverage. .

However, Thunder's holdings can be regarded as unilateral bullishness in the stock market. The holdings are all securities that are positively correlated with the rise of the stock market. They have no hedging meaning at all. The amount of its own funds is as high as 20 billion US dollars.

On Friday the 13th, that is, today, as soon as the securities market opened, within half an hour, Thunder's risk exposure surged by 5 billion, reaching 45 billion US dollars.

And now everyone's focus is on the stock market. Half of the risk exposure and volume are exploded in the stock market, which means... 2.5 billion US dollars.

Calculated in Korean won, it is 25 trillion won, which directly scares market participants. Words such as financial tsunami, financial crisis, and financial war appear in everyone's minds.

"With such a huge amount of energy, they want to scare off other market participants and arouse the market's risk aversion." This thought flashed through Lei Hao's mind, and he immediately issued another order.

In less than ten minutes, a voice appeared in the Korean market: "The identity of the short sellers has been revealed, and the big chaebols have reduced their positions! Where will their funds go? Will they flow abroad? Under the premise of a volatile situation, they cannot go out, and it is possible that they will eventually return to the country. Sex is up to 90%.”

"The facts still show the influx of external funds, and there is more cash in South Korea's capital market, which may be explained by the inflation rate in the coming period."

"Is this a show? Is it a washout? Shake out small and medium investors, and then absorb the selling chips back at a low level. It is even said that these chips are simply transferred from left to right?"

"After the KOSPI index falls, there may be calls for so-called bailout."

Each piece of information made bulls vomit three liters of blood.

The ones causing the trouble are foreign-funded institutions like Thunder. Don’t be deceived. They are doing long positions to clear their positions at high levels. They cannot hold Korean capital market securities for a long time.

But will anyone listen to these words? What Li Enjing regrets now is why he wanted to hedge against Thunder and let the bulls hold bilateral positions to boost or suppress the stock market. Why should he get involved?

But no one would believe these words.

"I know!" People who were familiar with Lei Hao finally reacted.

"Thunder's goal has always been to hold positions unilaterally! I finally know why Lei Hao wants to hold positions unilaterally!"

"It was a calculation from the beginning!"

"In terms of fundamentals and technical aspects, Lei Hao calculated the market psychology, and the short sellers cooperated with him and staged a drama."

"Is he accurate?"

The last question is the key. Is Lei Hao accurate?

You know, people's hearts are unpredictable. Market psychology is the force that affects everything, but market psychology is also affected by all other factors. This is a game of market psychology. Lei Hao is betting that his calculation can succeed.

From the beginning, Lei Hao would rather let the funds idle and hold unilateral positions. The reason is very simple. He only needs to hold unilateral positions, which means that if the original bond holders want to hedge, they can only reduce their positions. He is such a big piece of fat. Put it there, can others bear it?

When you reduce your position, it proves that there is more cash flow in the market. No matter where this cash flows, as long as it does not all flow out of South Korea, it will support the South Korean capital market.

But with the emergence of a series of bad news, will Lei Hao's view that "Korean people are very confident" be borne out? This is the most critical point. He led the short sellers by the nose and acted out a Korean securities drama. After watching the drama, can Koreans be more confident?

"Financial Wizard, the Wall Street Journal gave him the right title, this guy... is too scary." Foreign institutions such as Keda and HSBC felt shuddering.

Wizards are beings who can manipulate people's hearts. Lei Hao is scheming and slowly manipulating people's hearts. Under the unknowing gaze of others, he stretched out his hand and almost grabbed the throat of fate.

PS: I know that staring unconsciously is a bad sentence...