v3 Chapter 861： Bahrain Bank is in a hurry

The latest website: "Jacob, looking at the current situation, it is almost irreversible. Even if we do it ourselves, the funds needed are very large and cannot be raised in a short time. Once we raise the funds, the situation will be even worse."

Evelyn Rohill sighed slightly, shaking his head.

The failure to threaten Sumitomo Trading Co. was counterproductive and angered them. Sumitomo Trading Co., Ltd. will have more abundant liquidity after the capital contraction, but it will be more difficult to deal with.

Coupled with the fact that the Howard family blatantly joined the long camp, the strength of the long and short positions in the UK LME copper futures and LME aluminum futures markets is very different, and the short positions have lost momentum.

Just a Bright Fund has beaten the Bank of Bahrain steadily and retreats. Now, with the addition of the Howard family and Sumitomo Corporation, which are also strong and tough with the Bank of Bahrain, Bahrain Bank has no chance of winning.

The only way to survive is for the short camp to immediately add three or four giants of the same strength, and have to prepare funds to gradually recover the disadvantage.

With the status of London's international financial center, it is not difficult to find such giants, but how to let them go.

According to the current bad situation for the shorts, the person in charge of a financial institution will not rush in unless the head of a financial institution is drawn.

For the Rohill family, the situation at this time is out of control.

"By the way, Jacob, Sidmund also tested me today and asked me if I would short LME copper futures and LME aluminum futures."

Evelyn Roshere suddenly remembered what happened at G·S. Warburg Company in the morning, hesitated for a moment, and said to Jacob Roshere.

Jacob Rohill heard the meaning of his cousin's words, frowned for a moment, shook his head and said: "Evelyn, this is almost impossible. Sidmund will not take this risk. He is already old. Now that the Warburg family can’t bear too much setbacks, they want them to enter, unless we take the lead.”

My cousin is old friends with Sidmund Warburg, and he knows him better. Hearing what he said, Evelyn Rohill knew there was no way.

Their Roshir family will never go short, so this road has been blocked.

Can we just watch the Bright Fund win?

"Okay, Evelyn, things have reached this point. We can only count on Philip Brothers to play on our own. We have made a little money anyway. Let's keep an eye on the Bank of Bahrain. It is estimated that the Bank of Bahrain is not peaceful now."

When Jacob Rohill talked about the Bank of Bahrain, he subconsciously narrowed his eyes and secretly calculated.

Evelyn Rohill was taken aback and nodded silently.

This is the end of the matter, and we can only get as many benefits as possible.

As Jacob Rosier said, after learning that the Howard family entered the market more and Sumitomo Corporation expressed its optimism to the end, the management of Bahrain Bank panicked.

And the Bahrain family can't sit still.

City of London, Bahrain Bank Headquarters Building, meeting room.

The door of the meeting room opened, and the senior officials of the Bank of Bahrain came in one after another. They only noticed the depressive atmosphere in the meeting room, and saw that it was not the president Peter Niels who was at the top, but the chairman Barrett Bahrain. , Each heart shuddered, even the footsteps subconsciously lightened, and silently walked to their respective positions.

"Who else hasn't arrived?"

Barritt Bahrain scanned his eyes for a week and found that there were still a few empty seats, so he looked at Peter Niels sitting beside him and asked in a deep voice.

Although he is chairman of the board, he still does not understand the company as well as the bank president he appointed.

Peter Niles had been counting the heads of people silently. At this time, when he heard the chairman's inquiry, he immediately replied: "Chairman, the executives in London have arrived, and several senior executives have gone abroad on business."

Barrett Bahrain nodded and said solemnly: "Then the meeting begins, you will host it!"

"Ok!"

Peter Niels responded, and then said: "Some executives may not know why they are meeting. Then I will briefly explain the basic situation to you."

"At 1:14 pm, Sumitomo Corporation issued a research report again, claiming that the current prices of LME copper futures and LME aluminum futures are severely underestimated. It is predicted that in the next six months, the demand for copper in the metal market will increase by 40%, and the demand in the aluminum market will increase by 40%. The volume will increase by 38%."

"Subsequently, Sumitomo Corporation opened a high position again..."

"At 1:40 pm, the LME copper futures and LME aluminum futures markets once again entered a long position. After inquiries, it is the Locke Fund controlled by the Howard family, and the strength is very strong and the attitude is extremely determined..."

As Peter Niels continued to tell, the expressions of executives who did not know the situation became serious, and executives who knew the news subconsciously looked at someone in a special position.

I saw that the middle-aged white man had a solemn expression and his eyes were stunned, not knowing what he was thinking.

"This is the basic situation."

"Next, I would like to ask Manager Curtis Bard to talk about the investment status of LME copper futures and LME aluminum futures."

Speaking of this, Peter Niels looked at Curtis Budd calmly, and the others focused their eyes on him.

Curtis Bard is the senior manager of the metals trading department of the futures investment department of the Bank of Barings.

Curtis Bard woke up like a dream, took a deep breath, opened the prepared detailed investment registration form, and said with a shame: "At present, we have invested 749 million US dollars to short this Of the two types of futures, 11,890 lots of LME copper futures were sold, valued at US$393 million, with an average selling price of US$1322/ton.

"LME aluminum futures sold 5280 lots, valued at US$356 million, with an average selling price of US$2697/ton."

At this, Curtis Budd paused for a long time.

Barrett Bahrain, who was sitting above, looked at him coldly, and said solemnly: "It's a loss!"

Curtis Bard was shocked slightly and continued to read: "As of 2:15, the LME copper futures price was $1,368/ton, with a loss of $13.67 million."

"The LME aluminum futures price was US$2787/ton, with a loss of US$11.88 million."

"The total loss is 25.55 million U.S. dollars."

"This is all the situation, the report is complete."

After speaking, Curtis Budd looked down at the table, as if there was something on the table that attracted him.

After hearing this number, there was some commotion in the venue, and many people looked at Curtis Bard and Barrett Bahrain, secretly trying to figure out the chairman's attitude.

Peter Niels looked at the chairman and found that his face was cold and he did not have a tendency to speak immediately. He looked at another person and said: "Manager George Monroe, the evaluation report given by your risk evaluation department at the beginning It shows that LME copper futures and LME aluminum futures are overvalued and short-selling risks are low. You have seen the real situation now. What do you want to say?"

The main responsibility of the risk assessment department is to conduct risk assessments on the large-scale investment plans submitted by various departments, and give a professional evaluation report, and then submit them to Peter Niles, who will decide whether to sign an agreement to invest.

The risk assessment department of the Bank of Barings has always been running very well, with very strict controls, and there are few cases of wrong assessment, so Peter Niels is very relieved.

When George Monroe submitted the evaluation report before, Peter Niels read it and directly signed and agreed to Curtis Bard’s investment plan.

As the president of the bank, Peter Niles is responsible for the affairs of the entire bank. He is busy and cannot do everything himself. The main focus is on management and operation. Most of the time, the specific investment affairs are in charge of the following departments.

Now that something goes wrong, he is of course also responsible, but mainly responsible for leadership, and the heaviest responsibility falls on Curtis Bard and George Monroe.

George Monroe stood up, bowed his head with shame, and said in a self-reproach: "Chairman, President, I am really sorry because my department has not strictly controlled the company and caused the company a lot of trouble. "

After apologizing, he went on to explain: "At that time, when the risk assessment was conducted, the global market had been collected. At that time, Sumitomo Corporation and Locke Fund did not enter long positions. The U.S. futures market was short-positioned, and the output of copper and aluminum did indeed increase Trends, so my department thinks it is profitable and made that low-risk evaluation report But now looking back, our department’s evaluation report has fatal loopholes, that is, it failed to find out the Bright Fund and the US Galaxy The true power of the fund, even if we exclude Sumitomo Corporation and Locke Fund, in the futures market, after the Galaxy Fund exerts its strength, we have fallen into a disadvantage.

"More importantly, Philip Brothers has been under tremendous pressure in the United States, which has led to a decline in capital investment in London."

"My department has far underestimated the power of bulls, and I am willing to take this responsibility."

George Monroe’s attitude was much more sincere than Curtis Budd’s, and he first admitted his mistakes and then explained in place. He was also very responsible, which made Barrett Ballin and Peter Niels less angry. .

It's just that, the pressure is on Curtis Budd, the senior manager of the metal trading department.

The latter's face became very ugly, and his brain was running wildly, wondering what reason to find to relieve his responsibility later.

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