"Professor Li, news from London, our contract is at risk, should we close it? If we close it now, we might only lose 5 million US dollars..."
"No! Professor Li, we are about to reach the dangerous line of forced liquidation. Should we sell? If we don't, the 30 million US dollars will be reduced to zero."
…
With the news of such a high density of declines and liquidations, Professor Li and others could no longer bear it.
"Sell it! Sell it quickly! How come it dropped so much? It dropped so fast?"
"Right, right, right! Sell it now, don't think about making any profit now. If you can get back as much of your capital as possible, get as much as you can."
"It's over! It's over! Why did this happen? If we had known earlier, we would have stopped when we made more than 20 million!"
…
After giving the order to sell over the phone, the three professors seemed to have all the strength drained out of them. They slumped back in their chairs, nervously waiting to receive the final result.
Soon, two minutes later, a call came from London, reporting that of the 30 million principal, about 6 million US dollars were finally recovered.
"call……"
Upon hearing this result, Professor Li looked dejected.
The conditions of the other two professors were not very good either.
Of the original capital of 30 million US dollars, only 6 million US dollars were left, which meant that in less than a month, the three of them had lost the country 24 million US dollars.
Wow!
This was 1977!
Such a huge loss has been caused to the country, and it is a loss of foreign exchange funds. The three of them know very well what kind of crime this is.
"Lao Li, we..."
Professor Wu was about to speak, but Professor Li blocked his way with his hand and said, "Don't talk, this is all my fault. I was greedy and reckless.
These losses have nothing to do with you. I will write a report to explain the problem later.
I will note that when the profit was 20 million, you two advocated selling, but I insisted on continuing to hold on to gain greater profits.
All the responsibilities are borne by me alone.”
In fact, within a few seconds after hanging up the phone, Professor Li had already thought of everything, completely cutting off all his escape routes and taking all the blame on himself.
"No! Lao Li, no matter what the result is, it was decided by the three of us together. How can we let you bear the consequences alone?
Anyway, if you insist on writing the report like this, I won’t agree to sign it.”
Professor Chang was the first to object.
Professor Wu also took a deep breath and said, "Old Chang is right. We lost this money together. How can we let you bear the responsibility alone?
Let me write the report! The three of us will bear the responsibility for this loss together."
"How foolish! You two, don't you understand? Is it because of you that I took on this responsibility?
No! I am doing this for our country's financial industry!
If all three of us were to die, who would pass on these painful experiences and lessons?
Sacrifice me, and you two should work hard and learn from this painful lesson.
Alas! It seems that the old man is truly foresighted. He does not support us to continue speculating in futures to earn foreign exchange. I am afraid that he has seen the ruthlessness and volatility of the capital market.
It’s a pity that we think we have mastered the rules of futures price fluctuations, but in fact we are still just pawns played by capital.
Blame us for being too naive and too eager for quick success. This is a lesson learned through blood and tears!"
Professor Li waved his hand, as if saying goodbye to the other two professors, "I will go to the leader to report and review my mistakes now. You two should be good. If you have the chance in the future, you must avenge me."
After saying that, Professor Li left the office.
Professor Chang and Professor Wu looked at his leaving back and felt very uncomfortable.
Looking at the table again, the piles of analysis reports they wrote after spending so many sleepless nights there really look like a huge joke.
…
Similarly, at the London Futures Exchange, the big players are indoors.
The futures broker reminded Huo Zhenting countless times: "Mr. Huo, make a decision quickly. Your capital is almost gone. It will all go bankrupt soon."
"I need to cover my position! I need to cover my position! Wait a minute, I need to call my dad..."
With all his might, Peter Ho called home.
"Hello!"
As soon as Huo Yingdong's voice sounded.
Huo Zhenting shouted anxiously: "Daddy! Silver has fallen and I have suffered heavy losses. I want to cover my position! Give me another 50 million US dollars!"
…
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