Chapter 952 – Dividing the loot
When Feng Yu and his allies cooperated with Soros again, the South Korean government cannot hold them back. Feng Yu released news that their funds are running low and need to raise funds. He cannot continue to buy the Won dumped by Soros, and the South Korean Government will have to buy it themselves.
One billion USD worth of Won was bought by the South Korean Government, but the next day, 2 billion USD worth of Won is dumped into the market!
Where did Soros borrow such a big amount of Won? Which bank had issued this loan to Soros, despite government orders?
Closely after the appearance of the 2 billion USD worth of Won, the South Korean Government noticed many short positions future contracts on Won appearing in the market. These contracts did not belong to Soros and were scattered among many accounts, including one Hong Kong fund company, which had been helping them defense against Soros.
The Hong Kong tycoons are working with Soros?
At this time, Soros also threw his trump card, and start to dump Korean Won he borrowed from other markets. Korean Won fell by 5% that day!
The South Korean government immediately asked the International Monetary Fund for assistance. But it will take some time before help arrives.
The South Korean government does not have time to wait!
Korean Won was forced to switch to the Floating Rate system, and the market will decide its value. At least, this will lower the inflation rates in South Korea.
After the switching of the currency rate system was announced, Korean Won dropped another 8%. Feng Yu and Soros had a landslide victory!
This time, Feng Yu and his allies had used high leverage and increased the amount they shorted. Naturally, their returns will be higher and gotten high profits even after including their losses previously.
Soros had also recovered his losses and made a small profit. But his profit is nothing when compared to Feng Yu.
Before Christmas, Feng Yu and his allies settled their remaining future contracts and gotten back all their funds.
“Let’s have a toast. We had made a killing this time!” Fu Rongqi laughed. Not only he and the Fu Family had made high profits, but he had also still earned from those tycoons’ commission.
“Hahaha… Soros is getting all the blame in front, but no one will know that we are the ones who had gotten the most profits.” Fu Guangzheng laughed. His assets had increased a lot, and is now the second wealthiest in the family, behind his eldest uncle.
Fu Guangwei doesn’t dare to think of exceeding his Eldest Uncle in terms of personal wealth, but he is proud to have exceeded his other uncles.
Among Hong Kong’s second generations, maybe only Superman Li’s eldest son, Li Zeju can be Fu Guangzheng’s equivalent. But Li Zeju’s assets are inherited from Superman Li, and not earned by him.
No one knows who the next Hong Kong wealthiest man among the Second Generations will be.
“Thanks to everyone’s help, we can achieve this victory, especially Professor Liang. Without your help, we will not achieve this result.” Feng Yu raised his glass towards Professor Liang.
“I had only made some suggestions, and you all are the ones deciding whether if you all want to use it.” Professor Liang is in a good mood. He hates those incapable people who ignored advice from others. But in this room, he felt highly respected and is pleased with it.
Kirilenko said a lot in Russian, and everyone looked at Feng Yu. Feng Yu had a helpless look on his face. Damn! I still got to be a translator!
“Brother Ki said you all are all his friends and all of you must give him a call if anyone of you goes to Russia. If not, he will be pissed!”
“Hahaha… Kirilenko is so straight forward with his words. Don’t worry. I will be going to Russia for a short holiday soon, and I believe he will be a good host.” Fu Guangwei said with a mischievous smile. He should be looking forward to Kirilenko hosting him.
“Alright. There will be a celebration at the Peninsula Hotel tomorrow.” Fu Rongqi announced.
“Uncle, let’s talk about the celebration tomorrow. We should split our loot first. I promised to buy a sapphire necklace for my mother.” Fu Guangwei shouted.
Fu Rongbing laughed as he looked at his son. His son had grown up and knew how to buy gifts for his parents. Someone said that surrounded by good friends will make one grow up faster. Seems like Feng Yu is a good friend, and you can see it through the changes in Guangwei and Guangzheng.
Fu Rongqi laughed and shook his head. “You should learn how to invest from Nephew Feng if you got the money, and not be spending unnecessarily. These are the documents. Come and take a look. After you all sign it, I will transfer the profits.”
“So much?!” Fu Guangwei exclaimed. He did not expect his investments to be doubled.
Fu Guangzheng raised his brows. Do you call that much? I had made much more than you.
Fu Guangzheng was grinning from ear to ear and did not say anything, as he signs the document. But he. He had invested with his Eldest Uncle and Feng Yu.
“How come I am included?” Professor Liang looked at the document in front of him and asked.
“You had helped us a lot, and this is what you deserved. If you think it is too little, just tell me how much you want. We are going to be one big family, anyway.” Fu Rongqi laughed.
“If I still think this amount is too little, I will be too greedy. As for other matters, just let the children resolve it themselves.” Professor Liang said and looked at Fu Guangzheng.
Fu Guangzheng smiled and did not say anything. Liang Yin had agreed to dine with him, and Fu Guangzheng knows that she will agree to be his girlfriend sooner or later!
Feng Yu also signed a document. The agreement between them includes profit sharing, and Feng Yu must also split his profits with Fu Rongqi. Feng Yu also took out a stack of documents for Kirilenko, Fu Rongqi, and the rest.
Kirilenko saw the numbers in the document and quickly signs it.
Fu Guangwei looked over Fu Guangzheng’s shoulders to looked at the document he was signing. How come it’s so much? He was about to exclaim, but Fu Guangzheng gave him a stare.
Feng Yu had also given Professor Liang a share of his profits, and he did not reject it. Compared to the rest, Professor Liang’s returns are the highest in terms of percentage. He had invested 10 billion HKD in Guangzheng Fund. But he had helped Fu Rongqi and Feng Yu and had gotten four shares of the total profits. Each share is higher than what he had invested.
With the money he has gotten, Professor Liang can officially retire. But he will most likely continue to teach or manage Guangzheng Fund. A retirement life does not suit him.
“Brother Feng, are you going to invest your money again? What are you going to invest in? Can you bring me along?” Fu Guangwei asked.
Look at Brother Guangzheng. He had invested with Brother Feng, and his assets had increased by several folds.
“Sure. I need some time to think about what to invest next. If you are interested, you can join me.”