Vol 3 Chapter 96: Greenspan (2 in 1 large

The call was from Stanley Druckenmiller.
　　
　　 George Soros couldn't help but smile. For this young successor he personally selected, Soros has always been very satisfied, and feels lucky for this.
　　
　　 In terms of reading, Delican Miller has never been a top student, and his grades have always been beyond 10%. The university he attended is also a school that does not require any grades, and he loves sports.
　　
　　 But Deliken Miller's talent in the market is very comparable. The feeling of the market, the pulsation of the market, I feel like myself, no, even better than myself. My sense of the market comes from decades of research on the market, but Drucken Maitreya is born.
　　
　　Moreover, he will not slack off because of his talent. The position on Mark three years ago has proved this point.
　　
　　 And his philosophy is the same as his own, and most importantly, he is still very young. If you want to say that Stanley is still immature, maybe it's just a little bit timid.
　　
　　 "Stanley, good afternoon. What's the matter?"
　　
　　 Holding the phone, Soros greeted him enthusiastically as if he were a friend or a student, without the boss's attitude towards his subordinates.
　　
　　 He is really Hindruckenmiller, many times, he can find his shadow in Druckenmiller.
　　
　　 For this, Druckenmiller has always been very grateful.
　　
　　 In 1987, a book called "Financial Alchemy" appeared in the library, and this book was the autobiography of George Soros.
　　
　　 When Druckenmiller first read this autobiography of Soros, he was deeply attracted by the investment framework behind it. It's like sitting on a high mountain, and its macro-hedging investment framework is far above Miller. It's also like the title of the book itself. Alchemy, real gold is refined from the market, especially Soros's theory of reflexivity. Attracted Miller.
　　
　　 Soon, Druckenmiller got acquainted with Soros through a friend's introduction and maintained regular communication. Finally, after many contacts with each other, Soros offered to invite Druckenmiller to join the Quantum Fund invitation, and hoped that he could serve as the chief investment officer, but... Before that, Soros had already fired nine Personally, the successor he once expressed.
　　
　　 And knowing this, Druckenmiller still heard from Soros’ son himself, hey, man, are you the successor my father is looking for? Unfortunately to tell you, before that, he still had nine successors. Where are you now? Well, they have been fired.
　　
So when he joined the Quantum Fund, Druckenmiller only regarded himself as a piece of gold. There is no denying that, regardless of political stance, in economics and speculation, this big figure who has long been famous on Wall Street is a passing A master alchemist who has been tempered in the market. If he can pass his test and be qualified as a fund manager in Quantum Fund, it means he is already a piece of gold.
　　
　　 This is a trial field.
　　
　　 Soon, Druckenmiller passed Soros’s initial test, took control of his own rights in the Quantum Fund, and had his own fund shares to establish positions.
　　
　　 But because Druckenmiller is still managing the Duquesne Investment Fund, he often has to fly to Pittsburgh. When he returned to his company once, the profitable position was liquidated.
　　
That time, the young Druckenmiller made a big fire at Soros and was ready to leave, but in the end... Soros handed over 90% of the funds. Given management, he left the Quantum Fund.
　　
　　 This is a great decision. To speculate, who is not arrogant, who is not arrogant, but Soros really handed the power to Druckenmiller.
　　
　　 Since then, Soros has rarely appeared in the office and spent most of his time doing political charity in Eastern Europe. It was not until three years ago that Druckenmiller consulted Soros for the first time on Mark's position, and Soros only said a word.
　　
　　 Why do I believe in you, why can’t you believe in yourself? If you believe in yourself, why should you have concerns!
　　
　　 Stanley, trust your own judgment, trust yourself like a pig, until the market is completely different from your own judgment.
　　
　　 What is more important than believing in yourself?
　　
No.
　　
But unfortunately, 99% of people in the world can’t believe in themselves. On the contrary, when the market is completely different from their own judgments, 99% of people try to find reasons to believe in themselves. .
　　
　　 Listening to George Soros's slightly old voice, the excitement in Druckenmiller's heart dissipated a lot. This elder who was like a friend and a teacher was always so peaceful.
　　
　　 After organizing the language, Druckenmiller took the phone and spoke.
　　
　　 "George. My analyst told me that the Finnish economy has reached its limit. I wonder if you noticed it."
　　
　　 "Oh. Tell me about it."
　　
　　 Finland, one of the few neutral countries in the world.
　　
　　 After independence, Finnish education developed very fast. Many young scholars went to Germany to study industry and trained a large number of engineers. Until the end of the 1940s, German was still the first foreign language among Finnish engineers.
　　
　　 After learning skills in Germany, it brought the rapid development of Finland's machinery industry.
　　
　　 When Finland was defeated in 1944, the war indemnity was 300 million gold worth US dollars. Finland had almost nothing. It had to find a way out in industry and produce products as compensation.
　　
At that time, almost a large number of industrial products were drawn to the Soviet Union as compensation. Industrial products included ships, complete factories, power stations, tractors, boilers, locomotives, motors and transformers, wood and wooden houses, etc., and civilian household appliances, clothing, etc. . By 1952, Finland became the only country to pay the war reparations.
　　
In the late 1950s, Finland began the application of computers. By the 1960s, the development of the electronics industry gradually matured. Among them, the development of communications accelerated. This was also due to the use of radio technology to interfere with the Soviet army’s operational foundation during the war. At that time, Finnish radio technology was also very advanced, just as all the equipment of the Finnish radio station was taken away as war reparations.
　　
　　 It’s just that Finland is not rich in natural resources and its own market is small. It must find suitable and valuable products to compete in the international market. Naturally, Finland set its target on the Soviet Union, Europe’s largest market.
　　
During the Cold War confrontation between the United States and the Soviet Union, NATO and the Warsaw Pact also fell into a full-scale struggle. In addition to the competition in weapons and equipment, there was also a complete economic blockade. With the position of a neutral country, Finland found a way to open the door to wealth. Position, expand manufacturing, export to neighboring Soviet Union.
　　
Although the heavy industry in the Soviet Union is developed, the light industry has always been subject to various problems and is very weak. However, as daily necessities, people cannot do without light industry. Coupled with the confrontation and blockade of the Warsaw Pact and NATO, the Soviet Union has no choice at all. .
　　
　　 Then, with advanced light industry, Finland became the second largest importer of the Soviet Union to the West.
　　
　　 Then there is no more.
　　
　　Because the trade with the Soviet Union is based on bookkeeping trade, with the disintegration of the Soviet Union, the bookkeeping money has become waste paper, and Finland’s over-reliance on the Soviet market has immediately driven the Finnish economy into hell.
　　
　　 Workers are unemployed, housing prices have collapsed, the stock market has plummeted, and signs of an economic crisis have been highlighted.
　　
　　 "Yesterday, there was news from Finland that in the first quarter, Finland's gross national product fell by 13%, unemployment rose from 3.5% to 18.9%, and not long ago, the savings bank, one of the five largest commercial banks in Finland, collapsed."
　　
this is a good news.
　　
　　 Holding the phone, Soros smiled plainly.
　　
　　 "What do you want to do."
　　
"I think it's time we need to do something. With Finland's current economy, before finding new economic growth points, Mark's valuation should be greatly weakened. The Bank of Finland will not be able to maintain the current high exchange rate for long. If Mark and Deutsche Mark decouple, then it will be a real opportunity for us."
　　
　　 "Stanley, I'm pretty sure you are correct, then let us do something."
　　
　　 "......"
　　
　　 Hanging up, Soros stroked his chin, his eyes that should have been dull with a strange look.
　　
　　The merger of East and West Germany has strengthened the power of East Germany. It has become an important factor in breaking the European Community. Other currencies are centered around the Deutsche Mark. If the Deutsche Mark appreciates, the currencies of other countries will naturally flow into Germany.
　　
　　How to make the German mark appreciate?
　　
　　 Soros habitually raises his eyebrows. The currency is still good after all. When the liquidity decreases, the logical increase in value is natural.
　　
　　 Rubbing his chin, Soros called the secretary's phone.
　　
　　 Soon, the phone was connected, and a lean female voice came out of the phone.
　　
　　 "Anna. Ask me about Mr. Greenspan. I want to have dinner with him."
　　
　　 Greenspan, full name.
　　
　　 Jewish, the thirteenth chairman of the Federal Reserve Board of the United States.
　　
　　 On October 19, 1987, the global lightning crash, Wall Street experienced a "Black Monday", the Dow Jones Industrial Average Index fell a record 23% throughout the day.
　　
　　 After an order from the Ministry of Finance to hold up the global market, Greenspan quickly issued a short statement, promising to provide loan assistance to any financial institution in trouble. The stock market rebounded the next day, saving the full outbreak of the economic crisis.
　　
　　 It took four years. Under Greenspan's several times of controlling the Fed's interest rate, the United States finally emerged from the quagmire of the economic downturn.
　　
　　 The U.S. dollar has once again become the world's largest currency. Dow Jones has also reached a record high, reaching a new high of 600 points. The real estate market has also gone out of the predicament and successfully stabilized the US economy.
　　
　　 At eight o'clock in the evening, a helicopter landed at the InterContinental Washington Hotel. Soon after, Soros got out of the plane and arrived at the revolving restaurant on the top floor of the hotel.
　　
　　 The restaurant is very large and luxurious.
　　
The 　　 streamer color decoration and glazed lamps reflect the dining room like daylight without any dazzling feeling.
　　
　　 But at this time, there is only one person sitting quietly in the huge restaurant, sitting at the table with the white dining table.
　　
　　 An old man who seems to be about the same age as Soros, with a calm aura, gentle eyes, slightly sparse hair, and a black-rimmed glasses, without any arrogance at all.
　　
　　If I hadn't seen it with my own eyes, I'm afraid no one would have thought that such an old man would be the chairman of the Federal Reserve, the czar of dollar issuance and the economy, Greenspan.
　　
　　 Soon, Soros walked up to Greenspan, and the two did not say anything, they just looked at each other and smiled.
　　
　　 "George, how do you see this game."
　　
　　 Greenspan said with a smile.
　　
　　 On the table in front of him, there was a chess set impressively.
　　
Chinese chess.
　　
　　 Obviously, Greenspan is the player in chess, and Soros...observed the chess game set by Greenspan, he picked up a chess piece and placed it on the board.
　　
　　 Vault, hang a horse to kill, one of the horse's nirvana skills.
　　
　　 Greenspan smiled slightly, took a sip of the red wine on the table, Soros was not polite, pulled the chair away and sat down.
　　
　　"..."
　　
　　"..."
　　
　　 June 6th.
　　
　　晴!
　　
　　 But for some investors on the Dow Jones stock market, this is a day when sunny turns to cloudy, and cloudy turns to light rain.
　　
　　 When the market opened in the morning, the stock market continued to rise under the bullish trend, but no one expected that at noon, the Dow Jones suddenly dived and the closing turned into blood red.
　　
　　 fell, 1.2%.
　　
　　The reason was after the close, and many people knew it.
　　
　　 The chairman of the Federal Reserve made a public speech. From the data point of view, the economy of the United States is improving. The unemployment rate has dropped by three percentage points, the price index has risen by 0.8 percentage points, and non-agricultural data is also relatively objective year-on-year.
　　
　　 The Federal Reserve decided to raise interest rates by 0.5% and does not rule out the possibility of raising interest rates at the next interest rate meeting.
　　
　　 Manhattan, Fifth Avenue, the eighty-first floor of the Empire State Building, Shen Jiannan gently got out of bed and walked into the bathroom.
　　
　　 Plant beans under the South Mountain, and the grass is full of bean sprouts.
　　
　　 Morning Xing Li and Li, bring moon and lotus home.
　　
　　The road is narrow and the vegetation is long, and Xi Dew touches my clothes.
　　
　　 It's not a pity for the clothes to be dipped, but it doesn't break the wish.
　　
　　 But farming, as a farmer, has been a very hard work since ancient times.
　　
　　 There is a poem saying:
　　
　　 At noon on the day of hoeing, sweat drips down the soil.
　　
　　 The weather is hot, going in and out a lot of busy work, Shen Jiannan is naturally covered in sweat, fortunately, young and young are good, take a hot bath, sweat all over, still full of energy.
　　
　　 Soon, this product wrapped in a bath towel and dragged slippers out of the bedroom to the spacious living room.
　　
On one wall of the living room, hung a picture of the world map that was temporarily bought from the street in the afternoon~EbookFREE.me~Light blue dotted in the living room decorated in gilt color, there is a special artistic conception. .
　　
　　 Holding a towel and wiping his hair, Shen Jiannan habitually lit a cigarette with a cigarette, and inhaled hard. The nicotine mixed with the smoke entered the lungs, making people feel intoxicated and leisurely.
　　
　　 The TV is still on, and a host is interviewing Paul James, a famous analyst at Morgan Bank.
　　
　　 "Mr. James, how do you think the Fed's interest rate hike will affect the market's currency liquidity?"
　　
　　"" Although the Federal Reserve's interest rate hikes will shrink currency circulation in a short period of time and have a certain impact on the market, this is good news in the long run.
　　
　　 Because the interest rate hike shows that the U.S. economy has gotten rid of the downturn in the past, the data also shows that the U.S. economy is improving now, and the main purpose of raising interest rates is to curb inflation.
　　
　　 I think that as the Federal Reserve raises interest rates, global capital will be attracted to the US market, which will bring new upward expectations for the future market. "
　　
　　"..."
　　
　　
　　
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