Hong Kong's new giants

Chapter 469 [Fried Gold]

Time flies, and two weeks pass in a blink of an eye.

Wednesday, April 9.

Lin Zuhui came to Hengjin Investment early. USD/JPY closed at 121 points yesterday, plummeting 2.2% throughout the day, and fell to 120.5 points at one point, which made him overjoyed.

毕竟他的记忆里——1992年最低是120点、1993年最低是100点、1995年是80点，而如今已经达成今年的最低的指数，他还有什么理由不平仓呢？
After all, there are still three months to go, and it may rise to around 125 points. It is completely possible to make a price difference, and a large amount of funds can also be withdrawn.Even if it does not rise to 12 points in December, no matter what index it is, he will take out funds to sell short again, and next year will be another year when the yen appreciates.

"Have you informed George to close the foreign exchange position?" Lin Zuhui asked when he saw Wu Guoming.

The drop was sudden, falling directly from above 124 points to 121 points, so George is still sitting in the United States.

Wu Guoming said: "Notify the president, all positions below 122 points will be closed."

Lin Zuhui nodded. If the position is closed smoothly, he will get more than 40 billion in profits and return more than 55 billion in funds; plus the 35 billion in cash flow in his hand, there will be a full 90 billion in cash flow; There are 35 billion loans.

The money will be spent quickly, and financial investments such as gold futures and foreign exchange must be continued, and New Era Group’s convertible bonds need to be purchased (to avoid being diluted).

The New Times Group needs to issue 30 billion bonds at the end of the year to maintain the cash flow at more than 70 billion, so as to ensure that it can win the "land king" in Hong Kong next year (every real estate peak season, the Hong Kong government will launch a land king to drive up land prices. and property prices), and at the same time ensure that it can make great strides in the mainland and overseas next year.

Because Lin Zuhui knew the real estate development of Xiangjiang, he estimated that the profit of New Times Group next year might be more than 140 billion.In addition to the growth of development real estate, rental property will be the second largest growth point.It can be said that the life of New Era Group will be better next year.

Lin Zuhui continued: "Please inform George that we will enter the gold futures market at the end of the year and ask him to arrange for the company to prepare. The amount of funds is 10 billion, the leverage is 20 times, and the influence must be reduced and confidentiality."

Wu Guoming nodded and said, "Okay, I'll make arrangements for Xiangjiang's business and then go on a business trip to the United States, so I'll just tell him."

恒金投资的资产已经相当庞大了，持有微软2%（总市值250亿美元左右）、耐克3.9%（市值40亿美元左右）、星巴克7.5%（市值6亿美元左右），还拥有恒金置业，物业价值怕是得有200多亿了。

Including cash, Hengjin Investment's asset value is more than 400 billion, second only to Lin Zuhui's company equity wealth; while the family office's wealth is only more than 300 billion, which cannot be compared.

Lin Zuhui is more worried about one thing. Next year, the United States will be officially ranked on the world wealth list. There is absolutely no suspense that he will be the richest man in the world.

Because the market value of New Era Group is estimated to be 1200 billion by the end of the year, the market value of ATV is 150 billion, Wanhui Media is 100 billion, and the market value of LEIT Group is 120 billion (accounting for 35% of the shares).

His stakes in just those four companies were worth around $100 billion at the end of the year.

And he remembers that the richest man in the world in 1993 was either Buffett with about 85 billion dollars, or Japanese Yoshiaki Tsutsumi whose company was not listed with about 90 billion dollars.

In short, Lin Zuhui has almost no suspense.

Even, it is estimated that he will be the richest man in the world for at least several consecutive terms until Microsoft grows in a real sense, probably after 1996.

This is difficult to deal with. Lin Zuhui already doesn't want to show off, but the stock price of New Times Group has soared too fast, causing his book wealth to inflate greatly.

However, this has two sides. One is that it can bring more channels and convenience for Lin Zuhui to do business, and the other is that being "too famous" can easily make people jealous.

It's useless to think about it, you can only let nature take its course.

Masha Street, Sheung Wan, at the entrance of Xiangjiang Gold and Silver Exchange.

"Boss, this is Zhang Renqiang from Hannian Gold Shop. Zhang Sheng, this is my boss!" Huang Weichang, president of Luk Fook Jewelery, introduced.

Zhang Renqiang quickly said: "Mr. Lin, hello, I have admired your name for a long time!"

Lin Zuhui said politely: "Zhang Sheng is polite, please show me the most distinctive places in Xiangjiang this time!"

After some politeness.

"Lin Sheng, this way please!" Zhang Renqiang pointed to the gate.

For a long time, Lin Zuhui only knew that the Hong Kong Gold and Silver Trading Office was very powerful. It is said that it is difficult to feel the pulse of Hong Kong’s economy beating day and night without visiting the Gold Exchange in Hong Kong, and it is difficult to understand why Hong Kong has become a world leader. The third largest financial center.

At the gate of the gold and silver trade field, the building is very inconspicuous. Two tall, heavily armed British Indian JCs stood at the gate. Seeing Zhang Renqiang leading Lin Zuhui and Huang Changnian, they were slightly taken aback. They obviously knew Lin Zuhui. .

However, the two still turned to Zhang Renqiang and asked about the situation in fluent and accurate Cantonese Mandarin. The exchange generally refused to visit outsiders, which is why Lin Zuhui had to ask someone to sneak in if he wanted to visit.

Wouldn't it be embarrassing if one's reputation didn't work well.

"Excuse me, Mr. Lin!" British Indian JC made a gesture of please and said politely.

"It's okay, this is your duty, we should cooperate!" Lin Zuhui said with a smile.

In fact, it was just a few random questions. Zhang Renqiang had been in the Gold and Silver Trade Center for so many years, so it was no problem to bring someone with him.

As soon as you enter the door, the noise of "gold speculation" in the hall is like a heat wave blowing from the desert. For those who often do quiet work in the office, the nerves will inevitably tremble.

Those speculating in gold looked at Lin Zuhui curiously, and all smiled, but soon concentrated their energy on speculating in gold.It can be seen that everyone does not want to miss the opportunity to make a fortune, even if they are curious about what Lin Zuhui will do.

"Lin Sheng, let's go to the second floor, so we can see the grand occasion better!"

"it is good"

The second floor.

Looking down through the railing, below is a courtyard of more than 2000 square feet. More than 100 gold traders in dark yellow vest uniforms, like Spanish matadors, wandered in the center of the hall, searching for their prey. The walls are densely packed with "hotline" telephones.

After being introduced by Zhang Renqiang, Lin Zuhui understood that each telephone operator kept reporting the ups and downs of the gold price on the spot to the boss of the bank with his hand in hand, and at the same time constantly gestured to the buyers and sellers in the field to convey the boss's instructions in a timely manner.

The other end of the "hotline" was directly connected to the office building of the boss of Jinhang.The closed-circuit loudspeaker continuously transmits the babble of quotes from the quote clerk, and the boss stares intently at the fluorescent screen of the TV beside the table, weighing the ups and downs of the London gold price that Reuters sends via satellite 24 hours a day.

"Mr. Lin, there is a saying here that 'information' is life for the boss of Jinhang. If there is a slight omission, the consequences will be disastrous. The boss of Jinhang is exhausted every day in order to inquire about various relevant information and analyze the market." Zhang Renqiang said with a sigh.

He knows that Lin Zuhui is known as the God of Stocks, and he should not underestimate his financial ability.

Lin Zuhui nodded and said, "Are they all spot transactions?"

Suddenly, a trader standing in the middle of the patio raised his right hand, but seeing his fingers bent outwards and making gestures a few times, a dozen traders immediately rushed towards him and grabbed him tightly. With sharp eyes and quick hands, he patted each of five of them on the shoulders, and the crowd quickly dispersed.

Such tense and intense shots would appear like a revolving lantern every one or two minutes, dazzling and nerve-wracking.

Zhang Renqiang said:
"It's a stock, but it doesn't matter. Don't underestimate the few pats that the trader just had on other people's shoulders. They may have sold hundreds of thousands, or even millions of dollars."

"Frying gold in the trading field is based on 100 taels as a unit of calculation, commonly known as 'one hand'. There is a set of knowledge in hand gestures by buyers and sellers. Curling outward means selling, and bending inward means buying. The price also depends on gestures. The two mantissas behind the gold price. The seller pats the buyer on the shoulder to complete the transaction (the seller or the buyer has the right to choose the target), and then both parties record the transaction amount in their notebooks. They do not use Arabic numerals for counting, but Chinese characters. This is a habit that has been used for many years. At the end of the morning market at 12:[-], both parties go to the accounting department of the trade fair to post accounts through the computer."

"After the deal is concluded, the money is not given to gold immediately, but there are three days. Within these three days, it is time to make a price difference! A buys B's gold, and then A sells the gold at a high price within three days to make a profit , B buys at a low price in three days and it is considered a profit.”

"Such transactions are repeated and endless. The rise and fall of the gold market price does not entirely depend on the relationship between supply and demand. Man-made factors and changes in the international situation, and even the words and deeds of any head of state may cause fluctuations in the price of gold. Fluctuations. Gold speculators have to take great risks at any time. Some become upstarts in a morning market, and some go bankrupt. It’s really happy for several families and sorrowful for others!”

After listening to the commentary, let's look at the leeks off the field!
No, they are gold speculators.

Lin Zuhui couldn't help but shook his head, counting it as a ball.

They work nine to five, trying to make a fortune with one trick, but unfortunately they never know who the winner is.

Lin Zuhui didn't visit the gold and silver trade center on a whim, but planned to buy a large amount of spot gold here.Moreover, it is for Octopus Bank to reserve gold (gold speculation).

Without leverage, Lin Zuhui feels that 2% of the profit (currently $340 per ounce) is more cost-effective than lending.What's more, the loaned money is not counted as cash flow, but if there are gold reserves in the hands of HSBC, they can borrow money in the event of a run. Of course, this is just in case, and Lin Zuhui's reputation is still very high.

Also, for example, the loan-to-deposit ratio is only about 48%, but if you buy spot gold, the loan-to-deposit ratio can be increased to 80% without much risk.

Of course, it is also because Octopus Bank currently has only one shareholder, so it can operate in this way as the sole shareholder.

The reason why Lin Zuhui let Octopus Bank participate in gold speculation is to smooth out the losses before listing.In this way, the market value of Octopus Bank may be tens of billions of dollars when it goes public, and the funds raised from the listing can be used as a spin-off, and the funds raised can be allocated to Octopus Financial Group, which is equivalent to Lin Zuhui's cashing out.

After bidding farewell to Zhang Renqiang, Lin Zuhui said to Huang Weichang in the car: "If I want to buy a large amount of spot gold, how many tons can Lukfook Jewelery contribute in a month?"

Xiangjiang's gold is free trade. The government doesn't care how much you import or sell. The tax is very low and almost doesn't count.

Huang Weichang said: "Xiangjiang imports 300 tons of gold a year, and we import 30 tons a month and it won't cause too much fluctuation in the market." He guessed that Lin Zuhui's investment was billions of dollars.

1 ton of gold is about 9000 million Hong Kong dollars, and the annual import of gold is only more than 270 billion. However, if you have been buying spot for several months, you can still get more than 50 billion gold bars.

Similarly, the gold futures market is far from being comparable to the US dollar/yen, and Lin Zuhui lost his mind for a while.

After a long time, he said: "Gold in the mainland is 20% more expensive than ours, and it is impossible to open it up in recent years. But when mainland tourists come to Hong Kong, gold jewelry must be bought, which may reach more than 50% of the gold sold in Hong Kong. The reason why I let you expand in the past two years!"

Huang Weichang said in admiration: "Boss Huiyan, we now have 12 stores, surpassing King Fook Jewelery and becoming the jeweler with the fourth most stores in Hong Kong."

Lin Zuhui nodded and said, "Don't bother with the mainland market. Although I can let Lukfook Jewelery open a display store in Guangdong Province, the effect is limited and it's a waste of favor. As for opening a processing factory in the mainland, forget it." Well, dismissing employees is not what I want to see."

He knew that to develop the gold market, the Mainland had to join the WTO in 2003.At that time, it will be enough to make preparations a few years in advance.

The main reason is that he doesn't want to run a relationship, just to open a display shop (not for sale) and a joint venture processing factory (not for sale in the mainland), there is no need to make a fuss.

Huang Weichang nodded and said, "Okay, then I will concentrate on managing the Xiangjiang market, and then choose an opportunity to develop overseas."

"Well, maybe in another ten years, the mainland will open up the gold market, so we don't have to worry about it. Jewelry brands still need to settle down."

In fact, Lin Zuhui didn't pay much attention to it, after all, he definitely couldn't do Chow Tai Fook and Chow Tai Sang.

During this inspection, Lin Zuhui roughly determined the strategy for investing in gold:

Let Octopus Bank start hoarding about 100 tons of gold at the end of the year, and store some of it in HSBC as cash that needs to be dismantled.

And Lin Zuhui personally invested another 10 billion Hong Kong dollars to buy gold futures with 20 times leverage.

At the same time, Hengjin Investment still shorted 15 billion USD/JPY at the end of the year, which is also 20 times leveraged.

In this way, he can leave a large amount of funds (excluding 15 billion to buy bonds, there are at least 50 billion left), which can be used as a supplementary guarantee fund, and can also be used as a "support fund" for Octopus Bank.

Lin Zuhui is now very casual about investing in financial products, and has a very good attitude.Because he has more than 10 times the industrial assets to support, it is impossible to go bankrupt.

(End of this chapter)