Chapter 937 - Harvesting Chives
Chapter 937 – Harvesting Chives
One week later, Feng Yu felt SGD had fallen to its limits. SGD is not like Thai Baht and will not plummet too low, and Feng Yu settled his future contracts, earning over 2 billion.
Once again, Soros reacted later than Feng Yu, and his percentage of earnings is lower. But the actual profits he got is still higher.
When Feng Yu settled the future contracts for Ringgit, he noticed Soros is also doing it at the same time. Feng Yu can confirm that one of the brokers in his team is working for Soros.
Feng Yu told He Zhaoji privately and asked him to monitor the brokers from New York. Someone must be acting as an informer for Soros.
When He Zhaoji knew about this, he was furious.
Feng Yu had treated everyone well, and they are using his money to invest based on his instructions. Furthermore, Feng Yu is paying them commissions and giving out high bonuses.
The one who betrays Feng Yu is an ungrateful bastard!
If He Zhaoji finds out who the betrayer is, he will not let him off lightly.
Philippines Pesos had fallen to Feng Yu’s expected value, but this time, Soros settled the future contracts earlier than Feng Yu.
Feng Yu frowned as Soros had settled his contracts before the profits from the Philippines Pesos had reached the peak. Is he preparing to attack a new market? Is it Indonesia Rupiah or another country?
Very soon, Feng Yu got the answer. Soros is preparing to attack Taiwan.
Huh? Soros did not inform Feng Yu and went to attack Taiwan himself? Something is not right.
By right, it will be easier to suppress the currency with more funds.
Feng Yu rubbed his chin and thought hard about Soros’s actions. What is he trying to do?
Wait. It is not easy to suppress Taiwan’s currency, as Taiwan has strong foreign reserves and gold reserves. The rate should be like SGD and will not plummet too severely. If Taiwan is determined, it can even prevent its currency rate from falling.
If Feng Yu followed Soros and start to build a massive portfolio against Taiwan’s currency, his funds will be stuck in the Taiwanese market, and Soros can happily settle his future contracts in the other markets.
Damn! This is another setup!
Soros is a cunning old fox, and every step he takes might be a trap. Feng Yu has no intention to attack Taiwan. Although he wants Taiwan’s economy to crash, the returns from attacking Taiwan is too low and risky. If he can make money easily from other markets, why should he take the risk?
Feng Yu had planned to let Soros attack Taiwan, and he will pretend to follow, and at the same time, entice Soros to attack Hong Kong. Feng Yu is prepared to give Soros a heavy blow in Hong Kong!
Since Soros had set the bait, Feng Yu will pretend to bite it.
“Old He, short 5 billion USD on TWD, with five times leverage.” Feng Yu said.
“Boss, TWD is the same as SGD. Both are strong currencies, and Taiwan has a strong foreign reserve. Although their currency rate will be affected, it will not be easy to suppress it. Once Taiwan adjusts its policy, we might suffer losses.” Zhaoji said.
Also, five times leverage will mean that they will need to use 1 billion USD for a 5 billion contract. If this amount is used in Indonesia Rupiah, their returns will be much higher.
Five times leverage is also the lowest leverage used by Feng Yu during this period. Why does Feng Yu become so conservative suddenly?
“I know. I am looking forward to Taiwan to adjust its policies.” Feng Yu smiled. “Don’t forget that it’s the Quantum Fund who attacked first. Even if there are losses, their losses will be much higher than us.”
He Zhaoji finally understood what was going on. This is a setup!
Previously, Boss had set up Soros on SGD and trapped a significant portion of his funds in the Singapore market. Is Boss going to do the same thing again?
He Zhaoji immediately went out to inform the rest. But this time, Feng Yu was tricked. Soros did not continue to short TWD and used all his funds on Indonesia Rupiah.
He Zhaoji was in the office, looking at the gloomy Feng Yu, not knowing what to say.
TWD rate did not fall but even rise. Luckily, Feng Yu had only used five times leverage. If they had used 15 times leverage, they would be forced to cancel their contracts now!
Feng Yu did not expect Soros to be so cunning, and he had been tricked by him.
“Old He, cancel our TWD contracts.”
“Boss, we will suffer losses if we settle the contracts now. It’s not normal for the TWD rate to rise at this time, and the rise is not high.”
He Zhaoji is advising Feng Yu to wait a while more. It must be the Taiwanese government pushing up the TWD rate now to prevent speculators from shorting. Also, Feng Yu had used five times leverage, and TWD can’t rise more than 20%. So, they don’t need to worry about being forced to settle their futures contract.
“It’s fine to suffer some losses. We can earn back our losses from other markets. Withdraw our funds from the Taiwanese market and use it on Indonesian Rupiah. We will recover our losses very soon.”
Since they can make money within a short period, why should they wait for something longer? Feng Yu also felt what He Zhaoji said was right about TWD returning to normal and had a high possibility that it might even drop lower.
But investing in Rupiah will make money faster. Furthermore, Feng Yu does not believe that Soros will give up on TWD. After the TWD rate returned to normal, he will continue to short it and try to recover his losses. He might even use high leverage to make more money.
In investments, humans are the critical factor as their decisions cannot be forecast based on data.
……
“Brother Feng, did we earn a lot from Pesos and Ringgit?” Fu Guangzheng asked.
“Of course. I am sure you will be satisfied with your earnings. We will also be settling the Rupiah in a few days, and continue after that.”
“Huh? This is not over yet?” Fu Guangzheng thought everything would be over after they settled the Rupiah contracts. “Which country will we be attacked next? South Korea?”
“We will attack South Korea for sure, but we got to wait for around one month. We will be attacking Thai Baht next.”
“Thai Baht again? Baht had fallen a lot and is slowly recovering now!”
“That’s right. It is recovering because we did not continue to suppress Baht. If we continue to suppress Baht’s rate, Baht will continue to depreciate. I don’t dare to exaggerate, but depreciating another 10% is not a problem.”
Feng Yu plans to return to those few countries again and get one more round of profits. Now, these few countries’ currencies in Southeast Asia are falling, and Feng Yu only need to use Soros’s name to attack them, and the international speculators will follow. It will be easy to make Baht depreciate again.
This is like harvesting chives. Cutting them again and again when new sprouts grow out!