See Conquest of the World Chapter 34: Currency Wars (10)

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So in essence, futures are actually bought and sold, not specific commodities, but contracts, that is, if you buy this contract, you have to act in accordance with the contract at that time. 【n Look】

Of course, smart people will find that there is a very important mystery in this.

It is true that if you buy a contract, you will be able to take delivery of it at that time, but there is a big danger that you may be wrong.

For example, if the wheat is now 400 yuan, and you sign a contract to buy it for 420 yuan in three months, you think that it will definitely go up by then.

But in case, if the wheat harvest falls by more than 300, and you still go to execute this contract at that time, won't you lose money in vain?

But is it okay not to do it? I'm afraid it won't work. Since Duan Ye took office, he has convened many meetings with businessmen, but he did not ask for a showdown, but it is very important to emphasize to them that the most important thing in doing business is honesty and respect for the spirit of contract. As long as you promise someone else's things, as long as you sign a contract, you must implement it, even if it is a sea of swords. Duan Ye also said that if you don't respect the spirit of the contract, then don't blame Lord Duan for turning his face and being ruthless!

Of course, everyone listened to this, Lord Duan spoke in a word, this is something everyone knows, and honesty in business, it is nothing, and no one will disobey it unless it is absolutely necessary.

In the above situation, there are people with flexible brains who have thought of a way, and won't it be over if they buy two contracts in opposite directions?

For example, if you still have wheat, you can now sell a 420 contract, so that no matter whether the price rises or falls, there will always be a contract that makes money, and you can use the money to make up for the loss, so that the price risk of the commodity is easy to be avoided, whether it is a profit or a loss, in general, you only need to pay a very small price, that is, the transaction bundle fee.

Many smart businessmen have seen this, but they don't know it, they have unintentionally, they have already figured out an important concept in the financial market - hedging!

In a sense, hedging is the real reason for the emergence of the real financial market in later generations, but this time, Duan Ye did the opposite, first establishing the market, and then introducing these things.

Of course, as soon as the financial market is generated, there will be follow-up derivatives and the like, but Duan Ye does not plan to push it for the time being, after all, excessive advanced development is actually no benefit, and furthermore, Duan Ye's development of the financial market is not only to promote integration, but also for other purposes.

Another important measure is that Duan Ye issued an emergency notice after the market closed, stipulating that from the next day, all trading varieties, except for the first day of listing, the subsequent trading days can not rise or fall by more than five points. That's five percent.

In fact, since there is no open leverage, it stands to reason that there is no need to set such a low price limit, but Duan Ye thought about it again and again, and decided that it would be better to be conservative at the beginning, after all, this financial market has not experienced the test of strong winds and waves, and is not sure how much the world accepts it.

Sure enough, the next morning, as soon as the gong sounded, the combination of Mu Zhao and Chen Wanshui directly quoted the price limit, and continued to buy wheat, and buy as much as they wanted! But this time, no one sold it to them, because everyone knew that Henan was hit by a disaster, and the price of wheat would rise for sure, only five percent, so you want to take away the goods in our hands? Are you calling Hanako?!

Not surprisingly, the second day, the third day, also continued to rise, and at the same time, at the beginning of this day, rice also began to go on the market, but because everyone could not buy wheat, the price of rice was also expected to rise sharply, so, after a short battle between the two sides, the price of rice was also marked on the price limit, closing at 420 money a stone.

After the market closed, Chen Wanshui walked into the inner room of Sihai Qianzhuang with his hands behind his back, Cai Hao was shirtless, holding a tea jar and pouring it.

"shī'fù, you're back?" Cai Hao put down the teapot and said loudly: "shī'fù, it hurts so much today!" This rice has also been attacked by us, hehehehe, we have earned at least six percent today! ”

"Happy?" Chen Wanshui's face looked relatively calm.

"That's right!" Cai Hao wiped the sweat from his forehead, "shī'fù, I think this Lord Shi is right, this trading market is really like leading soldiers to fight, shī'fù you see, with the third son of the Li family today, isn't that a war!" This kid thinks we can't see it? In fact, he just wants to buy at the bottom price and make a big profit, the price of this wheat has risen like this, can the rice not rise? He desperately sold nothing more than to keep the price down, hey, hey, he didn't expect us to pay back so much, and he lost a lot of goods in vain at once, hahahaha! ”

It turned out that many people were surprised when the price of rice opened today, because now the market price of rice has actually risen, but at the beginning of the transaction, some people were crazy to sell, and for a time many people felt that it might be wrong, and joined the ranks of selling.

But the problem is that in this era, the exchange is a shouting transaction, and the businessmen need to go to the scene in person, so in this case, everyone knows who is selling.

The Li family was originally a big grain merchant, and their family has recently been buying a lot of goods from other places, which everyone knows, and the rise in rice prices is actually related to them, but the people of the Li family are actually selling on this exchange, which is obviously not right.

is not a stupid person, of course, I can guess the reason, the Li family sells it, it seems to be aggressive, but compared to their hoarding, it is just a small amount, he just wants to scare away some people who are not determined by selling wildly, knock down the price, and buy it back with money.

In the words of later generations, this is called making a shortfall.

And Cai Hao, who was the first to see it, immediately took out the money, and before the Li family began to make up for it, he bought all the rice sold by the Li family and the trend, and did not give them a chance to correct their mistakes at all, and pulled the price to the limit in one fell swoop.

At this moment, the third son of the Li family was dumbfounded!

Originally, he came to the scene on the first day, but he didn't dare to do it, because his Li family didn't have much wheat, and Old Man Li was very cautious, and he didn't understand what was going on in this market, so he didn't let Li San take risks.

But the thrilling and magnificent waves of the first few days were told to Mr. Li by Li San to go back and add fuel and vinegar to Mr. Li, this Mr. Li saw his son patting his chest and guaranteed that there was no problem, and I heard that the price only went up and not down, if you smash it first and then buy it back, it sounds simply impeccable, so I agreed.

After all, it is the youngest son, and the old father always hurts a little, and it is also an opportunity to cultivate experience.

But I didn't expect that this shot was seen through, not only did he not make any money, but he also sold the thousands of stone wheat applied for from his home at the full reserve price.

Angry, he wanted to go to Chen Wanshui to settle accounts, but as soon as he got out of the private room, a young man dressed in zhì'fú stopped Li San, saluted first, and said, "Third son, Tan Song, the secretary of finance and taxation of the Shifu Assassination Mansion." ”

"Oh, Tan...... Mr. Tan. ”

Originally, Li San still wanted to make a biao, but suddenly remembered that after all, he was an errand boy, he was a businessman, and his status could not be compared, but this kid was more tender than himself, and he didn't have a beard, and after all, he was not an official, and he really couldn't shout when he called an adult, so he reluctantly called Mr.

Tan Song was not angry, and said lightly: "Third son, the humble duty is to tell you, Lord Jun has already said that a transaction is a transaction, a transaction is a transaction, a transaction is a transaction, you can't go back, and you have to admit your profits and losses, so it is inconvenient for you to go to Mr. Chen at this time." ”

"This ......" Li San was about to scold, but he saw several zhì'fú men coming over at the same time, and he remembered that Duan Ye was really a person who couldn't be messed with, and if he lost it, he would pay it, there was no way.

Later, Li San had to go back stupidly, but he was not stupid, and immediately desperately grabbed the goods when the rice began to rise, and finally grabbed some, and he changed from selling to buying, although some people ridiculed him for taking off his pants and farting - this is a big move, but after all, it completely stimulated the enthusiasm of the market, and everyone rushed up, and finally hit the price to the limit.

After all, Li San still made money, but this made people very unhappy, because he could have made more money, but because he was smart, he made wedding clothes for others, which is more uncomfortable than losing money. As for Chen Wanshui Muzhao, they will make a lot of money. Because they are buying goods at the lowest point, and finally pull the price limit, the difference between them is only six or seven points.

Chen Wanshui looked at Cai Hao's smug face and said, "How much do you think you made today?" ”

"That's a lot! Six centimetres a day, that's not much. ”

"Hehehe." Chen Wanshui smiled, "Do you think about it, today and tomorrow, what will happen to the price of this rice?" ”

"Well, of course there will be a limit, this rice is less than 450, I can't see it."

"That's right." Chen Wanshui nodded, "Then if you think about it again, you don't think it's okay to be less than 450, what about others?" Do people think so? In that case, is there anyone else selling? Even if you raise the price and people don't sell it, how many goods can you have? ”

"That ......" Cai Hao was in distress, he obviously hadn't thought of this before.

Chen Wanshui shrugged his shoulders and said, "What are you waiting for?" The news is spread all over the world, and there are still a few days left, let's hurry up and go to other places to grab food! ”

"Oh! How I didn't expect that! Cai Hao patted his head, only to find that although the master has not talked much, his understanding and acceptance of this new market is still better than his own! In the end, ginger is still old and spicy. ”

"Lord Duan, he has done such a big thing, hehe, the whole world is going to be affected by him, let's see, this matter is not over, let's re-evaluate Lord Duan." ~

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