Hollywood Hunter

Excellent model is very pleasing, especially the present, and the fashion circle has not been occupied by the new two-generation ITGIRL that will only 'walk'. It is necessary to go to the platform.

ELITE's training base.

Simon appreciated a real-time performance, but did not stay too much, soon with Grace, leaving a group of disappointing girls from all over the world.

Still affected by the big butterfly of Simon, the fashion circle has also faced unrecognizable.

Just like this, in addition to the two Korean models of the South Korea, the two Korea model Shen Yibei and the whole bless are really, there is no one in history, other, Simon does not know. Only one is just a water young face, and the outer waist is long-legged.

Leaving Brooklyn, Western Western Take the helicopter to fly to Greenwich.

I haven't played a big gun for a long time. The time left in the afternoon, I took a dozen gathers.

Gray is accompanying, looking at your little man with an exaggerated Baret, standing in the shooting range, simultaneously, a moment is very self-destructive, thinking about going to be his The target is as gray to smoke, how good.

End of the manor in the northern suburbs of Greenland evening.

Tonight invited guests to eat dinner together, blessing couple, and the long-term capital management company of the blessing husband Mark Sinar, John Merrehaser.

With the rapid competenar with Bloomberg, Alia software has become an important information transmission tool that the Vistenlo system affects the international financial trend, in fact, it is important, so Simon has been Keep your attention to a stall of the B girl.

However, today's dinner topics are not A Laya, but long-term capital management company.

Si Mon's previous time, the A girl collected various mainstream national bonds on the punch data, regarding the basis of this dinner topic.

First, you must also say the operational means of long-term capital management company.

This is the financial transaction model created during the Solomon Brothers, once contributed more than half of the profits for Solomon Brothers, and later Solomon brothers collapsed because the national bond scandal collapsed, the team of Merrevese did not be affected, but the independent portal Established a long-term capital management company.

Its main way of operation is to use the world's bonds in different periods of interest fluctuations in different periods.

The core is also a zero and game of futures to gambling.

The professional model is of course very complicated. However, the easiest thing is, such as the United States issued a group of 10 years of national debt, and the annual interest rate of the ticket is 8%. Because the international financial environment is different, it is not necessarily 8% in the actual transaction process, may be 7%, or 9%, of course, this is only convenient for example, actually volatility and the US dollar foreign exchange ratio, very Low, there may be only 0.01%.

Long-term capital management company with this issue of gambling, I am optimistic about three months, this group of US Treasury bonds will rise from 8% to 9%, and establish a multi-position, which is probably.

However, because the ratio of bond interest rate fluctuations is very low, 0.01%, you want to get enough revenue, you need to use a larger position with a large size of the leverage.

Just the data collected in Simon, long-term capital management company currently holds the spread to the punch, larger size of more than $ 300 billion, while long-term capital management company is only 2 billion US dollars, more than 150 times the lever.

If it is ten years ago, even five years ago, this thing and Simon did not have too much relationship.

It is now different now.

With the size of the Vistro system, the relevance of the entire Vistrando system and the global economic direction is getting stronger, one glory, and it is damaged.

Therefore, Simon does not want to see a large systematic financial risk that may affect the Vistrando system.

Has long-term capital management company almost triggered how the global financial tsunami happened?

Very simple.

Probably in the second half of 1998, the Asian financial storm wave and global, the eyes turned to Russia, and the Mao Bear economy was in jeopardy, as asked in many countries in Asia, IMF asked to help.

At this critical time point, long-term capital management companies believe that in accordance with the practice, Russia will definitely reach a rescue agreement with IMF, the most unjust, involving national sovereign credits, Russia, and I will not let my own national debt default.

Since the direction of determination, because the system panic leads to the sharp decline, long-term capital management company has chosen to see more, and the ultra-high lever has established hundreds of billions of dollars.

As a result, everyone knows.

Russia suddenly slammed the table, did not play, let go of rubles, active national debt default, close the trading market.

The result is that there is more than Russian bonds, Europe, Latin America, and Southeast Asia are a sorrowful, falling in the whole line, and extreme markets directly lead to long-term capital management companies to be broken.

The fundamental financial market is based on the national credit established by the country's 100-year time as the foundation. If the losing can be cashed, if the credit collapse, the whole financial system is also asze, so, under extreme market, huge losses will first The devour the trader itself, then is the exchange platform where the position is located. If the exchange capital is exhausted, if you don't want the international financial system to collapse, you will need a national shot to help.

In 1987, the federal government has successfully rescued the Chicago futures exchange overnight, just this.

In 2008, the same extreme market, in order to avoid the financial system to collapse, the US government has picked up hundreds of billions of dollars in the huge number of huge positions in Wall Street to make up for the hole.

Between the two, the long-term capital management company crisis in 1998 is the same.

Even just according to the current position of the company, 150 times the lever, the highest support of the bond spread is 0.67%, and normal, often fluctuations in the 0.01% level, will not explode, however, the bear is a table This extreme market, directly allows the volatility of international bond interest rates in the short term to exceed 1%, and the burst is inevitable.

In the estate restaurant in the northern suburbs of Green.

John Merrevi thought that Simon is like the rich people who have become the rich in long-term capital management companies in recent years, they want to invest in their own companies, and it is inevitable in their hearts. I didn't expect it, I chatted, the other party's topic Steering let him compress the company's position to avoid extreme market things.

Even if the Solomon brothers faded, John Merrevis did not experience any setbacks, including 87 stations of the year, but they did not lose money, but they earned money.

Therefore, even if there is a trillion US dollar asset, it has a surprising performance of Simon Vistro, and the self-owned model is absolutely no harmful, John Merrevi is still very unhappy: "Simon, maybe you are not too Understand our model, huh, say, can understand the people of our model absolutely, this is made by the two Nobel Prize winners, I think you are worried. "

Simon has just been patiently explained his concerns, see John Merreva, it is not angry, standing too high, overlooking all beings, he is now difficult to have a strong emotional fluctuation of too many things, heard words: "John, frankly, how do your company operate, unrelated to me, if the long-term capital management company's operation, the loss loss is limited to itself, I will not pay attention, but your position is too large, and the current international financial form is at any time. There may be extreme fluctuations, which in turn triggers a systemic financial tsunami. Therefore, you better consider my suggestion, compress your leverage to 50 times as soon as possible, and the size of the position should not exceed $ 100 billion. "

Simon is still peaceful, even if the heart is still a little reluctant, John Merrevi is not stupid to the face of Vistlo, it is still a bit: "Well, Simon, I will consider it carefully."

Simon continued, with a few things in the tone: "Not considered, John, if you don't make a response, then I will respond to you, a few phones."

This is a little bit of the expression of Merrevi.

Bi Lang and his husband Mark Hill look at the eyes, and there is no inserted words.

Simon's gesture is still flat, but the so-called "a few calls", in the Mervese, a few people, but it is like a thunder.

Very simple.

The bottom of the clavicle salary.

Since the special invitation of Merrevis, naturally, it will not let yourself in the mouth.

If Meriwet is reluctant, Simon will greeze the investors of long-term capital management companies to withdraw. The influence of the Vistrando system is the wrong festival, and it is not difficult to do this.

At the end of the dinner, the Mervese couple leaving, and the Simon also stayed in the biteng couple talked some of the A Laye's things to send the other party.

Time came to 9:00 pm.

I sent a couple of blessing, Simon returned to an interior of the villa side, asked a thing, A girl took a good information to finish during the day.

From just dated, Gerai always listened, because the man was stuffed with a director of New York Merlong Bank, I didn't want to have a smeared man's inspiring, and Gerai was very finished, so I had just dinner process. It also probably understands Simon and Merrevis discussions.

At this point, I went to the man around him. When I sent fruit to the man, I asked: "The one you said, Asian or Eastern Europe may have a contract default, should it be too easy to happen?"

Ximeng baked an apple and continued to read the documents in front of him, saying: "It is necessary to pay attention to everyone does not happen."

Geli thought, said: "Since you think this kind of thing maybe, maybe, can you take a short?"

Xi Mon smiled and said: "The original accumulation stage, in order to get enough funds as soon as possible, let go of a few times, but if you have been doing it, there is a day of turn over the morning and evening, so, for me, financial means essential But it is absolutely only auction, the core is still doing real business business, the most important issue of the federal now is to reverse this thing, remember that Buffett said a fun little story, Buffett, you know ? "

Grace chin is in the man's shoulder, and the appearance of the washing: "Of course."

Simon continued: "Buffett said, a group of financial elites fell into the island due to the aircraft accident, only two people ran to plant, collect, hunting and other production activities, other people, all of these two people's production materials start playing Various financial operations, do you know what the result is? "

"It is definitely all starved to death," Gray laughed: "However, I think there is such a group of people, I should not be stupid to do this kind of stupid thing."

"The problem is that the trend of the federality is the case, the proportion of the financial industry and other financial industries such as foreign minus, investment, insurance and other financial industries are getting bigger."

Gedi thought, said: "Now it is not talking about globalization, I think this is just a division of labor."

"Imagine," Simon works "," If some extreme events have occurred in the future, such as war, globalization suddenly break, you will find that the federal suddenly becomes two people to produce a group of people to make financial lonely island What would the result? "

Gerai thought about the man's idea, and then played a small chill, looking up to Simon: "So, what do you want to do?"

Simon continued to turn over the front of the information, faint: "If you can't change it, we can only take into account yourself, Westerosian, you, you are now a Westerosian."

The man's words seem to have a bit of the singular magic, Glarish listened to him, very natural, and headed by him: "I am just a Westerosian."

"Then don't be lazy, give me an apple."

"Well, huh, huh."

Gray only felt soft soft, laughed and sent a piece of apple to the man's mouth, carefully holding the fruit plate, aiming that the documents just have been watching: "What is this?"

"The draft of the G8 Summit."

Glarish thought of reacted: "I have recently seen it in the news, June 8, Birmingham, Birmingham."

"Yup."

The G8 summit is definitely familiar to the later people.

Coincidentally, this year's summit is the first G8, and Russia was approved in the second half of last year. In addition, the core of this year is also very interesting and global.

Gelar curiously continued: "What do you see this?"

"I will pass at the time," Simon said: "It has arranged a seater, everyone gathered, just talk."

"Ok."

Gray said it is so uncomfortable to give birth to a bit of worship and pride.

My little man is very calm and written a group of people who talk about it, but the world's most powerful group of states.