Therefore, Xing Baohua not only trades short-term in the Hong Kong market, but also in the Singapore market and the Swiss market.
This team was brought in from within China, with a mix of veterans and newcomers; the majority of them are recent college graduates.
There were fewer than fifty people in total, all recruited through deception. The HR staff went to several finance colleges to recruit recent graduates. The first person to identify themselves was someone from the US HR department. The first requirement for applicants was fluency in English; the second, no academic record was required; and the third, the ability to adapt to frequent business trips, mostly overseas.
Given these conditions, they were practically fighting tooth and nail to get their hands on them.
The 1990s were also a time of great enthusiasm for going abroad! Who didn't want to go abroad? As soon as your family mentioned that you were working overseas, all the neighbors on the street would be green with envy.
Even if you go to Ethiopia, that's still working abroad!
Nobody cares how much money you make; they only care whose child has gone abroad and is doing well.
Of the fifty-odd people who were brought here, most were men, with only a few women.
Before they went abroad, DaMi paid three months' salary in advance so that these college students could give it to their families. They were told that DaMi was going to do a research project and there were requirements for going abroad. They were not allowed to contact their families for a year. If there was an emergency at home, they could contact DaMi's HR department using DaMi's employee number.
Furthermore, according to the rice company's requirements, the basic salary card should be kept at home, and the rice company will deposit the basic salary into the card monthly.
University students who go abroad receive a scholarship, with a minimum of three hundred US dollars and no upper limit.
There's no upper limit, and they don't know what that means. Basically, when doing short-term trading, you get a commission for each transaction. That's standard practice; traders earn their money from commissions.
The more you trade, the more commission you earn. This applies regardless of whether your account is losing or making a profit.
Previously, when trading, there wasn't enough manpower, so they had to hire people from various places to help. This wasn't a long-term solution, so Xing Baohua wanted to train a group of his own traders.
Xing Baohua ruined this group of finance students. Although they were related to finance, it was a completely different matter.
A trader may not need to understand such complex financial knowledge; they only need to know the market fluctuations.
The group of more than fifty people was divided into ten teams, each led by a trader who had previously worked with Xing Baohua.
Each team has three members responsible for gathering information: one to collect, one to analyze, and one to summarize.
The traders on the field this time don't need to use their brains; they just need to follow the instructions.
You can sell whenever the price rises by one yuan. That is, if you buy at 14.85 yuan, you can sell at 15.85 yuan.
If it can't be achieved, then wait.
Institutional investors have all set their sights on major players like Xing Baohua, while these short-term, diversified accounts are going unnoticed, even though they hold nearly 30 billion yuan in funds.
Yes, Xing Baohua took out nearly half of what he had earned from the Japanese and invested it in this oil crisis.
The remaining half is to ensure funding for various research and development expenses, as well as world-class buildings and other projects.
It's not that he doesn't want to invest that much money, but investing too much could easily lead to financial strain.
Many contractors may not have the capacity to return their profits after the contract expires. Such a large-scale operation could also bankrupt many contractors.
However, after rising by nearly one cent, oil prices gradually fell within a week, even falling two cents lower than the price Xing Baohua paid for the contract.
Those who didn't follow the trend started making sarcastic remarks. The oil market is the second largest financial trading market after the foreign exchange market. Xing Baohua's 10 billion yuan wouldn't cause any waves if he threw it in. Look, it has already dropped by 20 cents. How much has he lost with a 20% loss?
At the time, some people countered that Xing Baohua was doing long-term investing, and that it had only been a week, with more than fifty weeks to go.
Besides, even if he loses two yuan, or two hundred points, Xing Baohua won't lose money as long as his margin is sufficient.
That being said, it will take a long time, and ordinary people don't have access to oil contracts. At most, they might dabble in a few trades when trading futures.
The vast majority of orders are placed by the government or large oil companies.
Xing Baohua stayed in Hong Kong for a month before returning to central Shandong. Old Mou, who had long since figured out the rice factory, was finally able to welcome Xing Baohua back.
He was gone for a whole month. If it weren't for waiting for Xing Baohua, that old rascal would have run away long ago.
Before leaving, he still wanted to visit the rice laboratory, but when he met Xing Baohua and made the request, Xing Baohua refused.
“You don’t understand technology, so there’s no need for you to look at it. Even if you did, you wouldn’t understand it,” Xing Baohua said decisively.
"I may not understand the technology, but I know what can be used. You're asking me to do integrated electronics, like mobile phones, and I don't even understand the structure. That's not fair!"
"You want to know why a chicken lays eggs just because you're buying one? You just need to manage the business well with knowledgeable people. They'll make what you want. If you really want to learn, buy a few ebooks, go home and read them several times, and you'll understand."
"real?"
"Look at those top talents in the lab, they all became that way by reading books. I became one too. If there's nothing else, you can go back now, I'm very busy!"
Xing Baohua impatiently chased Lao Mou away. He had been gone for a month and indeed had a lot of things to take care of.
Old Mou left, and Wei Laisong came to deliver good news to Xing Baohua: the Luzhong Rice Workers' Team had qualified for the next round in their last match before New Year's Day.
He could theoretically reverse the situation and participate in the 1991 Jia-A League season.
This time, he came not only to report the good news, but also to apply for team funding. After all, he had previously made a bold statement that as long as the rice team could enter the Jia-A League, he would personally ask the boss for 100,000 yuan as a bonus to distribute to everyone.
"I remember the team had a million or two in the books, and it's all gone in just a month or two?" Xing Baohua asked Wei Laisong when he heard him ask for money. He didn't seem to care much about the team's comeback to qualify for the Jia-A League.
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