Wall Street Legend

For internal problems within the company, no one except the hedge funds suffered losses, so this matter did not involve the Securities and Exchange Commission. There have been many examples in history of investigations by this agency due to trader mistakes.

Before Tom came in, Mr. Wu Di came quickly.

This rare Chinese-American executive in the American financial circle has taken over some affairs from Ye Dongqing since he left Citibank and came here. He has rich management experience and past achievements. , seems to be doing pretty well, at least better than Ye Dongqing imagined. He has not been 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 the offshore trading of RMB, successfully making up for it. return some losses.

Hedge funds are more challenging for Ye Dongqing. He can predict long-term fluctuations, but it is difficult to avoid the immediate pitfalls.

At the end of last year, the RMB experienced a period of exchange rate appreciation, which was relatively large. When he entered the market, he was relatively aggressive. It happened to encounter a negative policy period, and he lost more than 200 million US dollars. Later, he made up for the increase. , successfully controlled the loss to about 120 million US dollars. If there was no hedging, the loss would be even greater.

Until now, this company is still profitable. The total gross profit for more than a quarter has been as high as over 900 million U.S. dollars. This is mainly due to Google's sharp rise in the second half of last year and the beginning of this year. In the past few days, it has made money by shorting it. One stroke, Ye Dongqing accurately seized the opportunity, was indeed more interesting in comparison. It was like gambling continuously and winning many handicaps. It was like sitting at the gambling table waiting for the lottery draw every day.

"It came just in time. I asked someone to make a pot of ice brew for me. Recently, I would watch the ice water melt and fall drop by drop on the Mandheling coffee bean powder at home. It takes several hours to harvest a cup of coffee. The taste of ice brew Not bad, but not as charming as Ice Drops.”

Ye Dongqing helped pour the cup while he was talking. After thinking of something, he added: "Remember to check out Qualcomm for me recently. Their executives are very interested in iTouch. They will probably OEM the chips for this product in the next year or two." It is likely to detonate a wave of market conditions. Enter the market early now, 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 spread. If you invested in Apple before then, it would probably be considered insider trading. However, the problem is not big now. It can be explained that you are simply optimistic about the market.

Still trying to figure out how to cooperate with each other, far from the tacit understanding between Mr. McCord and Ye Dongqing, Operation Officer Wu Di politely said thank you and replied: "You mentioned to me before that I am also paying attention to Qualcomm. , their technology is indeed quite good, and their revenue is within a reasonable range. I will ask people to pay attention and follow up.

Recently, I got to know more about other hedge fund companies and invited some former friends to play golf together. I found that many bosses are wandering in gray areas. If their handle is exposed, they may be caught, or they may never be caught. The kind you caught. The prosecutor of the Eastern District is an old fraternity friend of mine. He asked me to tell you that there is no need to imitate others. The money is already too much to spend. "

Ye Dongqing smiled and said: "Was Bernard Madoff short of money before? With a fortune of two to three billion US dollars, plus a lot of age, it seems logical that he will not be short of money. But he still took the risk. Your friend didn't get to 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 industry. It can't be done easily. They will quit, and wandering in the gray area can also make them feel stimulated.

Don't worry about me. I'm different from them. I'm a serious businessman and don't like the feeling of being watched by prosecutors all the time. "

This is the truth.

I used to be worried and scared for so long, but now I have finally escaped completely. There is no reason to go back to wallowing in the quagmire. Compared with Tamsui Investment Group, hedge funds are just an insignificant small industry. Time is so valuable, why should I get involved in it? .

After leaving Citibank, Mr. Wu Di was satisfied with all aspects. What he was most worried about was that Ye Dongqing was hiding his secrets and imitating other people's insider trading practices. He felt a little relieved after hearing this, and then said: "How is the crude oil market? You have been paying attention to it recently, right? Several traders below have suggested to me that they are bearish. The company still has a lot of funds on its books with nowhere to go. It should be okay to be more prudent."

After hearing this sentence, Ye Dongqing opened the terminal to check the real-time oil price data and recent trends. There have been two small peaks this quarter, and then fell quickly. The overall trend is upward. The current WTI price is forty-seven US dollars and sixty US dollars. Two cents is a small premium.

It’s the beginning of 2005.

If the trend is the same as in the previous life, the price of oil will remain high until it rushes to the terrifying figures that make people despair. After making a short judgment, he also tends to play it safe: "For hedging, be conservative and long for now. If it falls early, It just fell. The recent trend is very strange. I will increase investment after I study the current situation. Don’t be too aggressive for the time being.”

Compared with these things, Tom's side is just a small thing.

After talking about other things first, Ye Dongqing brought the topic to today's accident, asking Wu Di to use the topic to make management more strict in the future.

The financial industry is different from Silicon Valley. Programmers need a relaxed environment to inspire inspiration, but the hedge fund industry is better off adopting a high-pressure management model. If it is relaxed, these traders will go to heaven.

Office door.

Trader Tom walked in with a dead look on his face and stood there with his head lowered. An elite in the eyes of others, he had completely lost his energy at this moment and was waiting for the baptism of a storm.

Ye Dongqing said directly to him: "Take a drug test, talk to a psychiatrist for ten hours within a month, and accept questions from the management committee. If there are no problems, I can keep you, but after all, you have caused losses to investors." With so much profit, my punishment is no bonus or dividend for three years. All transactions within half a year must be reviewed and approved by Wu, and I will be assigned an intern assistant.

If you make more than 100 million US dollars in profit within 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 think you are not that kind of coward and can do 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 this period. "

Mr. Wu Di looked at him and asked in Chinese: "Not fired?"

"Forget it, I fired him. I guess it will be difficult to find a job in New York in the future. I'm just going to be merciful this time and won't do it next time."

Ye Dongqing replied in Chinese